Pale Fire Capital SE Q4 2025 Filing
Filed February 13, 2026
Portfolio Value
$1.5B
Holdings
60
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (60 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | COINCOINBASE GLOBAL INC | 1,271,800 | $287.6M | 19.30% | Put |
| 2 | TSLATESLA INC | 520,000 | $233.9M | 15.70% | Put |
| 3 | HOODROBINHOOD MKTS INC | 1,656,000 | $187.3M | 12.57% | Put |
| 4 | GRPNGROUPON INC | 10,181,070 | $179.3M | 12.03% | |
| 5 | BTOB2GOLD CORP | 39,311,603 | $177.3M | 11.90% | |
| 6 | DOLEDOLE PLC | 9,372,776 | $140.5M | 9.43% | |
| 7 | JXC1ZIFF DAVIS INC | 1,209,952 | $42.5M | 2.85% | |
| 8 | BAXBAXTER INTL INC | 2,074,016 | $39.6M | 2.66% | |
| 9 | IAUI-80 GOLD CORP | 20,668,315 | $30.2M | 2.03% | |
| 10 | ANGIANGI INC | 2,152,919 | $27.8M | 1.87% | |
| 11 | GAUGALIANO GOLD INC | 7,914,409 | $20.0M | 1.34% | |
| 12 | TDOCTELADOC HEALTH INC | 1,944,203 | $13.6M | 0.91% | |
| 13 | LQDALIQUIDIA CORPORATION | 379,392 | $13.1M | 0.88% | |
| 14 | CGCENTERRA GOLD INC | 591,222 | $8.5M | 0.57% | |
| 15 | CARSCARS COM INC | 661,501 | $8.1M | 0.54% | |
| 16 | RGNXREGENXBIO INC | 499,526 | $7.2M | 0.48% | |
| 17 | GUTSFRACTYL HEALTH INC | 3,209,942 | $7.1M | 0.47% | |
| 18 | TENTSAKOS ENERGY NAVIGATION LTD | 295,909 | $6.6M | 0.45% | |
| 19 | GONGERON CORP | 4,788,594 | $6.3M | 0.42% | |
| 20 | SNDXSYNDAX PHARMACEUTICALS INC | 284,460 | $6.0M | 0.40% | |
| 21 | TECXTECTONIC THERAPEUTIC INC | 261,026 | $5.4M | 0.37% | |
| 22 | DAWNDAY ONE BIOPHARMACEUTICALS I | 544,063 | $5.1M | 0.34% | |
| 23 | KURAKURA ONCOLOGY INC | 452,245 | $4.7M | 0.32% | |
| 24 | 0J7QIAC INC | 96,507 | $3.8M | 0.25% | |
| 25 | DERMJOURNEY MED CORP | 444,642 | $3.4M | 0.23% | |
| 26 | OEFISHARES TR | 19,600 | $3.3M | 0.22% | Put |
| 27 | WIXWIX COM LTD | 31,000 | $3.2M | 0.22% | |
| 28 | CMRCCOMMERCE.COM INC | 748,925 | $3.1M | 0.21% | |
| 29 | NVDANVIDIA CORPORATION | 11,000 | $2.1M | 0.14% | Put |
| 30 | HRTXHERON THERAPEUTICS INC | 1,469,655 | $1.9M | 0.13% | |
| 31 | SGMTSAGIMET BIOSCIENCES INC | 221,875 | $1.3M | 0.09% | |
| 32 | HELPCYBIN INC | 153,505 | $1.3M | 0.08% | |
| 33 | ABEOABEONA THERAPEUTICS INC | 174,705 | $920K | 0.06% | |
| 34 | AGROADECOAGRO S A | 84,637 | $671K | 0.05% | |
| 35 | XFORX4 PHARMACEUTICALS INC | 167,590 | $670K | 0.04% | |
| 36 | LDELIFECORE BIOMEDICAL INC | 71,040 | $581K | 0.04% | |
| 37 | HROWHARROW INC | 11,785 | $577K | 0.04% | |
| 38 | PESIPERMA-FIX ENVIRONMENTAL SVCS | 43,220 | $544K | 0.04% | |
| 39 | DCTHDELCATH SYS INC | 40,085 | $404K | 0.03% | |
| 40 | MLYSMINERALYS THERAPEUTICS INC | 10,354 | $375K | 0.03% | |
| 41 | CRTOCRITEO S A | 18,097 | $372K | 0.02% | |
| 42 | AGIOAGIOS PHARMACEUTICALS INC | 11,850 | $322K | 0.02% | |
| 43 | ONITONITY GROUP INC | 6,833 | $312K | 0.02% | |
| 44 | PTHSPELTHOS THERAPEUTICS INC | 8,100 | $251K | 0.02% | |
| 45 | RAREULTRAGENYX PHARMACEUTICAL IN | 10,211 | $234K | 0.02% | |
| 46 | LXEOLEXEO THERAPEUTICS INC | 22,302 | $221K | 0.01% | |
| 47 | ENGNENGENE HOLDINGS INC | 24,004 | $216K | 0.01% | |
| 48 | RLMDRELMADA THERAPEUTICS INC | 44,550 | $215K | 0.01% | |
| 49 | VZLAVIZSLA SILVER CORP | 38,201 | $208K | 0.01% | |
| 50 | TARSTARSUS PHARMACEUTICALS INC | 2,452 | $200K | 0.01% | |
| 51 | CGEMCULLINAN THERAPEUTICS INC | 19,318 | $199K | 0.01% | |
| 52 | ANNXANNEXON INC | 38,600 | $193K | 0.01% | |
| 53 | ATAIATAI BECKLEY NV | 45,811 | $187K | 0.01% | |
| 54 | LRMRLARIMAR THERAPEUTICS INC | 45,218 | $172K | 0.01% | |
| 55 | IMTXIMMATICS N.V | 16,272 | $170K | 0.01% | |
| 56 | PALIPALISADE BIO INC | 70,710 | $166K | 0.01% | |
| 57 | CRBPCORBUS PHARMACEUTICALS HLDGS | 18,650 | $151K | 0.01% | |
| 58 | NVCRNOVOCURE LTD | 10,723 | $138K | 0.01% | |
| 59 | NUAGNEW PAC METALS CORP | 28,477 | $99K | 0.01% | |
| 60 | RZLTREZOLUTE INC | 33,519 | $79K | 0.01% |