Blacksheep Fund Management Ltd reported 7 positions worth $2.31M for the quarter ended Jun 30, 2026, down 99.1% on the prior quarter. It opened 0 new positions, added to 0, trimmed 7 and exited 1. Its largest holding is TransDigm Group INC at 76.7% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
No positions were added to this quarter.
| Holding | Change | Trade Value | Weight |
|---|---|---|---|
| TDG TransDigm Group INC | -44.4K -97.1% | $59.17M | 76.71% |
| MSFT Microsoft Corp | -129.8K -99.7% | $48.41M | 6.02% |
| MA Mastercard Inc | -87.1K -99.4% | $44.75M | 11.39% |
| V Visa Inc. | -100.4K -99.7% | $34.43M | 5.09% |
| FWONK Liberty Media Corp | -351.6K -100.0% | $33.45M | 0.391% |
| GRND Grindr Inc. | -1.24M -100.0% | $15.00M | Exited |
| TCX Tucows Inc | -1.09M -100.0% | $14.71M | <0.01% |
| FWONA Liberty Media Corp | -103.9K -99.9% | $10.88M | 0.394% |
No new positions this quarter.
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| GRND Grindr Inc. | -1.24M | $15.00M | 6.07% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | TDG TransDigm Group INC | Industrials | 1,332 | $1.77M | 76.71% | -44.4K | -97.1% | Reduced | 0% |
| 2 | MA Mastercard Inc | Financial Services | 513 | $263.48K | 11.39% | -87.1K | -99.4% | Reduced | 0% |
| 3 | MSFT Microsoft Corp | Technology | 373 | $139.14K | 6.02% | -129.8K | -99.7% | Reduced | 0% |
| 4 | V Visa Inc. | Financial Services | 343 | $117.68K | 5.09% | -100.4K | -99.7% | Reduced | 0% |
| 5 | FWONA Liberty Media Corp | Communication Services | 87 | $9.11K | 0.394% | -103.9K | -99.9% | Reduced | 0% |
| 6 | FWONK Liberty Media Corp | Communication Services | 95 | $9.04K | 0.391% | -351.6K | -100.0% | Reduced | 0% |
| 7 | TCX Tucows Inc | Technology | 13 | $175.11 | <0.01% | -1.09M | -100.0% | Reduced | 0% |
Tip. Select a row to see that position’s full history at Blacksheep Fund Management.
As of its Q2 2026 13F filing, Blacksheep Fund Management Ltd’s five largest positions were TransDigm Group INC (TDG) at 76.7%, Mastercard Inc (MA) at 11.4%, Microsoft Corp (MSFT) at 6.0%, Visa Inc. (V) at 5.1%, Liberty Media Corp (FWONA) at 0.4% of the reported portfolio.
Blacksheep Fund Management Ltd reported a 13F portfolio worth $2.31M across 7 positions for Q2 2026. That is down 99.1% from the previous quarter.
Its largest sales by value were TransDigm Group INC ($59.17M), Microsoft Corp ($48.41M), Mastercard Inc ($44.75M). It exited 1 positions entirely.
From the Form 13F-HR reports Blacksheep Fund Management Ltd files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.