Pale Fire Capital SE
Annual return '25
+10.5%
SPY '25
+17.7%
Alpha
-7.2ptsvs SPY
Invested
$1.1B
Holdings
61
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 99%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$BTG
B2GOLD CORP
Q4 2025: Sold 21.4% (50.02M → 39.31M shares)
27.8%
02
$DOLE
DOLE PLC
Q4 2025: Increased +9.1% (8.59M → 9.37M shares)
11.8%
03
$GRPN
GROUPON INC
Q4 2024: New position (10.18M shares)
10.6%
04
$ZD
ZIFF DAVIS INC
Q4 2025: Increased +201.1% (401.8k → 1.21M shares)
10.3%
05
$PHR
PHREESIA INC
Held since at least Q1 2024
6.4%
06
$COUR
COURSERA INC
Q2 2025: Exited (was 10.0k shares)
5.4%
07
$LSPD
LIGHTSPEED COMMERCE INC
Held since at least Q1 2024
4.3%
08
$CARS
CARS COM INC
Q4 2025: New position (661.5k shares)
2.8%
09
$IAUX
I-80 GOLD CORP
Q4 2025: Sold 8.2% (22.52M → 20.67M shares)
2.8%
10
$ANGI
ANGI INC
Q4 2025: Increased +57.3% (1.37M → 2.15M shares)
2.4%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 08:26 UTC.