We are live on
!
Find out more
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
+20.48%
1 Year Est. Return
+42.87%
3 Year Est. Return
+176.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$914M
AUM Growth
-$61.1M
(-6.3%)
Cap. Flow
-$120M
Cap. Flow
% of AUM
-13.17%
Top 10 Holdings %
Top 10 Hldgs %
89.68%
Holding
70
New
10
Increased
24
Reduced
14
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dole
DOLE
|
+$33.9M |
| 2 |
IAMGOLD
IAG
|
+$22.9M |
| 3 |
Teva Pharmaceuticals
TEVA
|
+$11.2M |
| 4 |
TECX
Tectonic Therapeutic
TECX
|
+$5.36M |
| 5 |
Kura Oncology
KURA
|
+$4.19M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
B2Gold
BTG
|
+$61.9M |
| 2 |
Hecla Mining
HL
|
+$44.6M |
| 3 |
Pan American Silver
PAAS
|
+$18.4M |
| 4 |
SPPP
Sprott Physical Platinum and Palladium Trust
SPPP
|
+$13.8M |
| 5 |
Match Group
MTCH
|
+$12.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 44.29% |
| 2 | Communication Services | 30.49% |
| 3 | Consumer Staples | 12.71% |
| 4 | Healthcare | 10.93% |
| 5 | Energy | 1.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
enGene Therapeutics
ENGN
$117M
| $118K | 0.01% |
17,254
| – | – |
|
52
Cullinan Oncology
CGEM
$1.01B
| $86.7K | 0.01% |
+14,615
| New | +$107K |
|
|
ODV
53
DELISTED
Osisko Development Corp
ODV
| $71.6K | 0.01% |
21,133
-27,932
| -57% | -$74.1K |
|
|
NEWP
54
New Pacific Metals
NEWP
$879M
| $70.4K | 0.01% |
25,978
-41,652
| -62% | -$77.4K |
|
55
ASP Isotopes
ASPI
$522M
| – | – |
-10,300
| Closed | -$75.8K |
|
56
Burford Capital
BUR
$922M
| – | – |
-128,054
| Closed | -$1.83M |
|
57
Coeur Mining
CDE
$15.9B
| – | – |
-1,146,022
| Closed | -$10.2M |
|
58
Celcuity
CELC
$4.26B
| – | – |
-15,940
| Closed | -$213K |
|
|
CIM
59
Chimera Investment
CIM
$1.06B
| – | – |
-107,708
| Closed | -$1.49M |
|
|
60
Hecla Mining
HL
$9.66B
| – | – |
-7,438,818
| Closed | -$44.6M |
|
|
61
Match Group
MTCH
$9.48B
| – | – |
-416,533
| Closed | -$12.9M |
|
62
Noble Corp
NE
$6.43B
| – | – |
-8,000
| Closed | -$212K |
|
63
Ocular Therapeutix
OCUL
$1.83B
| – | – |
-530,135
| Closed | -$4.92M |
|
|
64
Pan American Silver
PAAS
$18.4B
| – | – |
-649,493
| Closed | -$18.4M |
|
|
QIPT
65
DELISTED
Quipt Home Medical
QIPT
| – | – |
-460,303
| Closed | -$824K |
|
66
uniQure
QURE
$3.05B
| – | – |
-529,798
| Closed | -$7.39M |
|
67
Ultragenyx Pharmaceutical
RARE
$2.46B
| – | – |
-5,600
| Closed | -$204K |
|
|
SCPH
68
DELISTED
scPharmaceuticals
SCPH
| – | – |
-57,128
| Closed | -$218K |
|
|
SPPP
69
Sprott Physical Platinum and Palladium Trust
SPPP
$573M
| – | – |
-1,172,523
| Closed | -$13.8M |
|
70
Talos Energy
TALO
$2.46B
| – | – |
-87,994
| Closed | -$746K |
|
Similar funds
WFAG
ACM
SAM
HMCP
OHIF
WM
BBP
AT
Pale Fire Capital SE's Q3 2025 Portfolio in Review
As of Q3 2025, Pale Fire Capital SE held 70 positions worth $914M, down 6.3% from $975M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Pale Fire Capital SE withdrew a net $120M in Q3 2025, closing 16 positions and reducing 14 holdings. Its most notable exit was Hecla Mining, an estimated $44.6M position sold in full.
By sector, the portfolio is most concentrated in Materials at 44% of assets, up from 40% a quarter earlier, followed by Communication Services and Consumer Staples.
Against the trend, Pale Fire Capital SE opened a new position in Tectonic Therapeutic worth $4.08M.
- Pale Fire Capital SE's largest Q3 2025 buy was Tectonic Therapeutic: 259,726 shares worth $4.08M.
- Pale Fire Capital SE added most to Dole in Q3 2025, an estimated $33.9M increase.
- Pale Fire Capital SE's biggest Q3 2025 reduction was B2Gold, cutting an estimated $61.9M.
- Pale Fire Capital SE fully exited Hecla Mining in Q3 2025, selling an estimated $44.6M.
- Pale Fire Capital SE's ten largest holdings make up 90% of its $914M portfolio in Q3 2025.
- Pale Fire Capital SE opened 10 new positions and closed 16 in Q3 2025.
- Pale Fire Capital SE's portfolio value fell 6.3% quarter-over-quarter to $914M.
Based on Pale Fire Capital SE's 13F filing for Q3 2025, filed 13 Nov 2025.