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PFCS
Pale Fire Capital SE Portfolio holdings
AUM
$1.14B
1-Year Est. Return
42.87%
This Fund
S&P 500
This Quarter
Est. Return
+37.95%
1 Year Est. Return
+42.87%
3 Year Est. Return
+176.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$975M
AUM Growth
+$133M
(+16%)
Cap. Flow
-$100M
Cap. Flow
% of AUM
-10.26%
Top 10 Holdings %
Top 10 Hldgs %
85.56%
Holding
75
New
13
Increased
24
Reduced
13
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceuticals
TEVA
|
+$17M |
| 2 |
Match Group
MTCH
|
+$12.5M |
| 3 |
Angi Inc
ANGI
|
+$12.1M |
| 4 |
SPPP
Sprott Physical Platinum and Palladium Trust
SPPP
|
+$11.9M |
| 5 |
IAMGOLD
IAG
|
+$9.26M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
B
Barrick Mining
B
|
+$146M |
| 2 |
Coeur Mining
CDE
|
+$27.5M |
| 3 |
NGD
New Gold Inc
NGD
|
+$3.36M |
| 4 |
Uber
UBER
|
+$2.19M |
| 5 |
Dole
DOLE
|
+$1.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 40.43% |
| 2 | Communication Services | 39.65% |
| 3 | Consumer Staples | 8.94% |
| 4 | Healthcare | 5.67% |
| 5 | Energy | 1.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
McEwen Inc
MUX
$1.02B
| $119K | 0.01% |
+12,350
| New | +$101K |
|
52
Kura Oncology
KURA
$803M
| $116K | 0.01% |
+20,100
| New | +$123K |
|
53
X4 Pharmaceuticals
XFOR
$368M
| $114K | 0.01% |
60,051
-7,794
| -11% | -$31.9K |
|
|
VZLA
54
Vizsla Silver
VZLA
$1.1B
| $114K | 0.01% |
38,800
+7,900
| +26% | +$20.6K |
|
55
Lexeo Therapeutics
LXEO
$330M
| $111K | 0.01% |
27,650
+8,750
| +46% | +$28.8K |
|
56
Larimar Therapeutics
LRMR
$396M
| $108K | 0.01% |
37,518
| – | – |
|
|
ODV
57
DELISTED
Osisko Development Corp
ODV
| $105K | 0.01% |
49,065
-16,200
| -25% | -$30K |
|
|
NEWP
58
New Pacific Metals
NEWP
$848M
| $90.6K | 0.01% |
67,630
-5,800
| -8% | -$7.33K |
|
59
ASP Isotopes
ASPI
$496M
| $75.8K | 0.01% |
10,300
-400
| -4% | -$2.68K |
|
60
enGene Therapeutics
ENGN
$116M
| $62.8K | 0.01% |
17,254
| – | – |
|
61
Bumble
BMBL
$372M
| – | – |
-10,000
| Closed | -$43.4K |
|
62
Cleveland-Cliffs
CLF
$6.76B
| – | – |
-10,000
| Closed | -$82.2K |
|
|
CMCT
63
Creative Media & Community Trust
CMCT
$9.73M
| – | – |
-16
| Closed | -$9.95K |
|
64
Coursera
COUR
$1.48B
| – | – |
-10,000
| Closed | -$66.6K |
|
|
B
65
Barrick Mining
B
$61.6B
| – | – |
-7,498,976
| Closed | -$146M |
|
|
INZY
66
DELISTED
Inozyme Pharma
INZY
| – | – |
-440,807
| Closed | -$401K |
|
67
Iovance Biotherapeutics
IOVA
$1.92B
| – | – |
-42,897
| Closed | -$143K |
|
68
Navios Maritime Partners
NMM
$2.34B
| – | – |
-34,011
| Closed | -$1.33M |
|
|
ADAM
69
Adamas Trust
ADAM
$812M
| – | – |
-27,301
| Closed | -$177K |
|
70
Sagimet Biosciences
SGMT
$439M
| – | – |
-10,989
| Closed | -$35.8K |
|
71
TScan Therapeutics
TCRX
$48.3M
| – | – |
-47,734
| Closed | -$65.9K |
|
72
Triple Flag Precious Metals
TFPM
$5.94B
| – | – |
-14,520
| Closed | -$278K |
|
|
73
Uber
UBER
$142B
| – | – |
-30,000
| Closed | -$2.19M |
|
74
UroGen Pharma
URGN
$1.93B
| – | – |
-20,893
| Closed | -$231K |
|
|
VERV
75
DELISTED
Verve Therapeutics
VERV
| – | – |
-34,500
| Closed | -$158K |
|
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Pale Fire Capital SE's Q2 2025 Portfolio in Review
As of Q2 2025, Pale Fire Capital SE held 75 positions worth $975M, up 16% from $842M the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Pale Fire Capital SE withdrew a net $100M in Q2 2025, closing 15 positions and reducing 13 holdings. Its most notable exit was Barrick Mining, an estimated $146M position sold in full.
By sector, the portfolio is most concentrated in Materials at 40% of assets, down from 57% a quarter earlier, followed by Communication Services and Consumer Staples.
Against the trend, Pale Fire Capital SE opened a new position in Teva Pharmaceuticals worth $17.6M.
- Pale Fire Capital SE's largest Q2 2025 buy was Teva Pharmaceuticals: 1,050,649 shares worth $17.6M.
- Pale Fire Capital SE added most to Angi Inc in Q2 2025, an estimated $12.1M increase.
- Pale Fire Capital SE's biggest Q2 2025 reduction was Coeur Mining, cutting an estimated $27.5M.
- Pale Fire Capital SE fully exited Barrick Mining in Q2 2025, selling an estimated $146M.
- Pale Fire Capital SE's ten largest holdings make up 86% of its $975M portfolio in Q2 2025.
- Pale Fire Capital SE opened 13 new positions and closed 15 in Q2 2025.
- Pale Fire Capital SE's portfolio value rose 16% quarter-over-quarter to $975M.
Based on Pale Fire Capital SE's 13F filing for Q2 2025, filed 13 Aug 2025.