Blacksheep Fund Management Ltd — 13F Holdings & Portfolio
CIK 1800249 · latest 13F-HR filed 2026-08-25
Blacksheep Fund Management Ltd manages $309.6M in 13F-reported U.S. long-equity assets across 7 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are MA (25.46%), V (20.67%), TDG (19.69%).
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$309.6M
Long-equity book
7
Distinct positions
2026-06-30
Filed 2026-08-25
+0 / −0 / ↑0 / ↓0
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Share-count changes vs the prior 13F.
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | MASTERCARD INCORPORATED | MA | 57636Q104 | $78.8M | 25.46% | 153,430 | SH |
| 2 | VISA INC | V | 92826C839 | $64.0M | 20.67% | 186,550 | SH |
| 3 | TRANSDIGM GROUP INC | TDG | 893641100 | $60.9M | 19.69% | 45,754 | SH |
| 4 | MICROSOFT CORP | MSFT | 594918104 | $48.5M | 15.68% | 130,140 | SH |
| 5 | LIBERTY MEDIA CORP DEL | FWONK | 531229755 | $33.5M | 10.81% | 351,706 | SH |
| 6 | TUCOWS INC | TCX | 898697206 | $14.7M | 4.75% | 1,091,985 | SH |
| 7 | LIBERTY MEDIA CORP DEL | FWONA | 531229771 | $9.1M | 2.94% | 104,010 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $309.6M | 7 | 0001172661-26-003773 |
| 2026-06-30 | 2026-08-25 | $309.6M | 7 | 0001172661-26-003992 |
| 2026-03-31 | 2026-05-13 | $247.2M | 8 | 0001172661-26-001782 |
| 2025-12-31 | 2026-02-13 | $246.0M | 8 | 0001172661-26-000795 |
| 2025-09-30 | 2025-11-13 | $117.3M | 4 | 0001172661-25-004772 |
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