Pale Fire Capital SE

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Pale Fire Capital SE reported 54 stock positions worth $637.7 million. Its top holding was AT&T (T) at 33.1% of the portfolio, followed by Dole (DOLE, 16.7%) and Groupon (GRPN, 15.6%). Compared with Q2 2024, it opened 21 new positions, sold out of 10, added to 18 and reduced 13. The biggest buy was Teladoc Health (TDOC, shares +92%) and the biggest sale Shell PLC-ADR (SHEL, shares −98%).

Most Recent 13F
Q2 2026
Location
Prague, 2N
CIK
0001922318
Portfolio Value
$637.7M (Q3 2024)
SEC Filing
0000921895-24-002578 ↗ filed Nov 12, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $717.3M Q1 2024 Q2 2024: $886.8M Q2 2024 Q3 2024: $637.7M $637.7M Q3 2024 Q4 2024: $426.9M Q4 2024 Q1 2025: $830.4M Q1 2025 Q2 2025: $958.3M Q2 2025 Q3 2025: $912.4M Q3 2025 Q4 2025: $775.8M Q4 2025 Q1 2026: $1.1B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 54 stocks · $637.7M
T AT&T Inc. 33.13% 9,603,558 $211.3M Reduce -8.4%
DOLE Dole PLC 16.73% 6,547,483 $106.7M Reduce -20.1%
GRPN Groupon Inc. 15.61% 10,181,070 $99.6M No change
BTG B2GOLD Corp. 8.30% 17,186,079 $52.9M Reduce -11.1%
INSW International Seaways Inc. 6.10% 754,415 $38.9M Reduce -21.2%
TDOC Teladoc Health Inc. 2.95% 2,047,323 $18.8M Add +91.9%
CGAU Centerra Gold Inc. 2.49% 2,216,410 $15.9M Reduce -22.2%
ANGI Angi Inc. 2.18% 5,395,100 $13.9M Reduce -15.9%
TEN Tsakos Energy Navigation Ltd. 1.99% 504,398 $12.7M Reduce -0.6%
IAUX I-80 Gold Corp. 1.80% 9,889,569 $11.5M Add +2378.3%
NMM Navios Maritime Partners LP 1.67% 170,226 $10.7M Reduce -75.3%
CIM Chimera Investment Corp. 0.84% 339,473 $5.4M New
PRAX Praxis Precision Medicines I 0.61% 67,284 $3.9M New
OCUL Ocular Therapeutix Inc. 0.60% 438,200 $3.8M New
SSTK Shutterstock Inc. 0.53% 95,810 $3.4M New
STNG Scorpio Tankers Inc. 0.51% 45,310 $3.2M Reduce -87.4%
ORANY Orange-Spon ADR 0.45% 251,125 $2.9M No change
SHEL Shell PLC-ADR 0.42% 40,925 $2.7M Reduce -98.2%
ADVM Adverum Biotechnologies Inc. 0.34% 308,371 $2.2M New
DHC Diversified Healthcare Trust 0.29% 442,298 $1.9M Reduce -31.1%
QURE Uniqure NV 0.26% 336,468 $1.7M Add +412.9%
MLYS Mineralys Therapeutics Inc. 0.26% 136,897 $1.7M Add +292.4%
CRBU Caribou Biosciences Inc. 0.23% 734,904 $1.4M Add +1779.2%
ADAM Adamas Trust Inc. 0.21% 207,971 $1.3M New
DESP Despegar.com Corp. 0.19% 99,938 $1.2M New
XFOR X4 Pharmaceuticals Inc. 0.17% 1,602,792 $1.1M Add +805.4%
RAPT THERAPEUTICS INC 0.16% 510,724 $1.0M Add +3078.1%
MITT TPG Mortgage Investment Trus 0.16% 133,271 $1.0M New
INZY Inozyme Pharma Inc. 0.15% 188,537 $986K Add +384.7%
RNW Renew Energy Global PLC-A 0.06% 59,289 $373K Add +236.5%
IOVA Iovance Biotherapeutics Inc. 0.06% 37,375 $351K Add +154.3%
IRON Disc Medicine Inc. 0.05% 6,609 $325K New
IMTX Immatics NV 0.04% 24,462 $279K Add +112.3%
BHVN Biohaven Ltd. 0.04% 5,496 $275K New
CELC Celcuity Inc. 0.04% 17,458 $260K Add +49.8%
CREATIVE MEDIA & CMNTY TR 0.04% 486,378 $239K Add +11.7%
CMRX Chimerix Inc. 0.04% 254,963 $237K Add +53.4%
BDTX Black Diamond Therapeutics I 0.04% 52,985 $230K Add +35.9%
VERV Verve Therapeutics Inc. 0.03% 45,600 $221K New
TCRX Tscan Therapeutics Inc. 0.03% 43,723 $218K Add +102.7%
LRMR Larimar Therapeutics Inc. 0.03% 32,309 $212K Add +126.1%
EWTX Edgewise Therapeutics Inc. 0.03% 7,686 $205K New
ACHV Achieve Life Sciences Inc. 0.02% 33,119 $157K New
AQST Aquestive Therapeutics Inc. 0.02% 24,000 $120K New
RZLT Rezolute Inc. 0.02% 24,289 $118K New
SYRS Syros Pharmaceuticals Inc. 0.02% 49,211 $106K New
CMPX Compass Therapeutics Inc. 0.01% 30,507 $56K Reduce -63.1%
CLRB Cellectar Biosciences Inc. 0.01% 25,030 $54K New
OSISKO DEVELOPMENT CORP 0.01% 24,291 $52K Reduce -30.7%
BWEN Broadwind Inc. 0.01% 22,026 $50K New
NEWP New Pacific Metals Corp. 0.01% 33,530 $50K New
PPSI Pioneer Power Solutions Inc. 0.01% 10,500 $49K New
ATAIBECKLEY INC filed as ATAI LIFE SCIENCES NV 0.01% 37,384 $43K Add +50.8%
VXRT Vaxart Inc. 0.01% 51,028 $43K New

Portfolio Sells Q2 2024 → Q3 2024
SHEL Shell PLC-ADR Reduce -98.2% 0.42% −17.58
STNG Scorpio Tankers Inc. Reduce -87.4% 0.51% −2.78
NMM Navios Maritime Partners LP Reduce -75.3% 1.67% −2.30
NE Noble Corp. PLC Sold out 0.00% −0.94
DAR Darling Ingredients Inc. Sold out 0.00% −0.56
NOMD Nomad Foods Ltd. Sold out 0.00% −0.48
DO Diamond Offshore Drilling Inc. Sold out 0.00% −0.45
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.37
CAH Cardinal Health Inc. Sold out 0.00% −0.29
LUMN Lumen Technologies Inc. Sold out 0.00% −0.29
INSW International Seaways Inc. Reduce -21.2% 6.10% −0.28
TNK Teekay Tankers Ltd. Class A Sold out 0.00% −0.20
CDLR Cadeler A/S-ADR Sold out 0.00% −0.08
LYG Lloyds Banking Group PLC-ADR Sold out 0.00% −0.00
CMPX Compass Therapeutics Inc. Reduce -63.1% 0.01% −0.00
OSISKO DEVELOPMENT CORP Reduce -30.7% 0.01% +0.00
DHC Diversified Healthcare Trust Reduce -31.1% 0.29% +0.07
TEN Tsakos Energy Navigation Ltd. Reduce -0.6% 1.99% +0.31
CGAU Centerra Gold Inc. Reduce -22.2% 2.49% +0.33
ANGI Angi Inc. Reduce -15.9% 2.18% +0.79
BTG B2GOLD Corp. Reduce -11.1% 8.30% +2.42
DOLE Dole PLC Reduce -20.1% 16.73% +5.41
T AT&T Inc. Reduce -8.4% 33.13% +10.54

Portfolio Buys Q2 2024 → Q3 2024
TDOC Teladoc Health Inc. Add +91.9% 2.95% +1.77
IAUX I-80 Gold Corp. Add +2378.3% 1.80% +1.75
CIM Chimera Investment Corp. New 0.84% +0.84
PRAX Praxis Precision Medicines I New 0.61% +0.61
OCUL Ocular Therapeutix Inc. New 0.60% +0.60
SSTK Shutterstock Inc. New 0.53% +0.53
ADVM Adverum Biotechnologies Inc. New 0.34% +0.34
QURE Uniqure NV Add +412.9% 0.26% +0.23
CRBU Caribou Biosciences Inc. Add +1779.2% 0.23% +0.22
MLYS Mineralys Therapeutics Inc. Add +292.4% 0.26% +0.21
ADAM Adamas Trust Inc. New 0.21% +0.21
DESP Despegar.com Corp. New 0.19% +0.19
MITT TPG Mortgage Investment Trus New 0.16% +0.16
XFOR X4 Pharmaceuticals Inc. Add +805.4% 0.17% +0.16
RAPT THERAPEUTICS INC Add +3078.1% 0.16% +0.16
INZY Inozyme Pharma Inc. Add +384.7% 0.15% +0.14
IRON Disc Medicine Inc. New 0.05% +0.05
RNW Renew Energy Global PLC-A Add +236.5% 0.06% +0.05
BHVN Biohaven Ltd. New 0.04% +0.04
IOVA Iovance Biotherapeutics Inc. Add +154.3% 0.06% +0.04
VERV Verve Therapeutics Inc. New 0.03% +0.03
EWTX Edgewise Therapeutics Inc. New 0.03% +0.03
IMTX Immatics NV Add +112.3% 0.04% +0.03
ACHV Achieve Life Sciences Inc. New 0.02% +0.02
LRMR Larimar Therapeutics Inc. Add +126.1% 0.03% +0.02
CMRX Chimerix Inc. Add +53.4% 0.04% +0.02
TCRX Tscan Therapeutics Inc. Add +102.7% 0.03% +0.02
CELC Celcuity Inc. Add +49.8% 0.04% +0.02
AQST Aquestive Therapeutics Inc. New 0.02% +0.02
RZLT Rezolute Inc. New 0.02% +0.02
SYRS Syros Pharmaceuticals Inc. New 0.02% +0.02
BDTX Black Diamond Therapeutics I Add +35.9% 0.04% +0.02
CLRB Cellectar Biosciences Inc. New 0.01% +0.01
BWEN Broadwind Inc. New 0.01% +0.01
NEWP New Pacific Metals Corp. New 0.01% +0.01
PPSI Pioneer Power Solutions Inc. New 0.01% +0.01
VXRT Vaxart Inc. New 0.01% +0.01
ATAIBECKLEY INC Add +50.8% 0.01% +0.00
CREATIVE MEDIA & CMNTY TR Add +11.7% 0.04% −0.09

Options Activity Q2 2024 → Q3 2024
MNKD Mannkind Corp. call Sold out 37,100 $194Kbefore exit
AVXL Anavex Life Sciences Corp. call Sold out 23,000 $97Kbefore exit
RVNC Revance Therapeutics Inc. call Sold out 20,000 $51Kbefore exit
REVIVA PHARMACEUTCLS HLDGS I call Sold out 25,000 $32Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 71$1.4BGRPN, BTG, ZD, DOLE, COUR
Q1 2026 60$1.1BBTG, DOLE, GRPN, ZD, PHR
Q4 2025 55$775.8MGRPN, BTG, DOLE, ZD, BAX
Q3 2025 52$912.4MBTG, GRPN, DOLE, IAG, NGD
Q2 2025 59$958.3MGRPN, BTG, DOLE, HL, NGD
Q1 2025 61$830.4MGRPN, BTG, B, DOLE, HL
Q4 2024 50$426.9MBTG, GRPN, DOLE, INSW, CGAU
Q3 2024 54$637.7MT, DOLE, GRPN, BTG, INSW
Q2 2024 43$886.8MT, SHEL, GRPN, DOLE, INSW
Q1 2024 46$717.3MSHEL, GRPN, DOLE, INSW, STNG