Pale Fire Capital SE

CIK 0001922318 · Q1 2026

13F Equity AUM

$1.1B

-23.6% QoQ

Positions

0 QoQ

AUM Rank

#2,585

Top 21%

Skill Alpha (FF)

+23.1%/yr^ns

No Clear Edge

Rank #74 · Top 0.9%

vs S&P +1.7%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 66.9%Top 10: 84.6%Top 20: 96.5%

BTO27.8%

DOLE11.8%

GRPN10.7%

JXC110.3%

PHR6.4%

COUR5.4%

LSPD4.3%

CARS2.8%

IAU2.8%

ANGI2.4%

Others (50)15.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Basic Materials28.6%

Communication Services23.3%

Consumer Defensive17.7%

Healthcare15.9%

Technology6.2%

Consumer Cyclical5.2%

Unclassified2.8%

Other0.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 60Median: 0.08%Avg: 1.67%

0–0.5%

38(2.4%)

0.5–1%

8(5.4%)

1–3%

7(15.6%)

3–5%

1(4.3%)

5%+

6(72.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 59Unique: 1vs 20 funds

0.8%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

GEODE CAPITAL MANAGEMENT, LLC

1.5%

BlackRock, Inc.

1.3%

MORGAN STANLEY

VANGUARD CAPITAL MANAGEMENT LLC

1.5%

STATE STREET CORP

1.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.5%

BANK OF AMERICA CORP /DE/

0.9%

JPMORGAN CHASE & CO

0.7%

FMR LLC

0.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New21Increased23Decreased8Exited21

New Positions

PHR6.4%

+8.6M

COUR5.4%

+10.5M

LSPD4.3%

+5.5M

PTON2.4%

+6.2M

WEAV0.6%

+1.5M

UDMY0.5%

+1.3M

SPT0.2%

+344K

DV0.1%

+111K

KOS0.0%

+145K

EXFY0.0%

+481K

Increased

BTO27.8%

+30.4M(+77%)

CARS2.8%

+3.3M(+498%)

GUTS0.2%

+2.7M(+84%)

CMRC0.7%

+2.2M(+294%)

ANGI2.4%

+1.8M(+83%)

JXC110.3%

+1.6M(+130%)

TDOC1.6%

+1.5M(+75%)

AXD20.2%

+1.2M(+85%)

KURA0.6%

+405K(+90%)

MLYS0.9%

+355K(+3431%)

Decreased

GAU0.9%

-3,914,409(-49%)

BAX2.3%

-491,273(-24%)

ABEO0.0%

-104,860(-60%)

0J7Q0.2%

-42,226(-44%)

RLMD0.0%

-12,900(-29%)

RGNX0.4%

-5,800(-1%)

CGEM0.0%

-5,100(-26%)

HROW0.0%

-3,270(-28%)

Exited

COIN

-1,271,800

TSLA

-520,000

HOOD

-1,656,000

-591,222

-295,909

-261,026

-544,063

-19,600

-31,000

-11,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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