Blacksheep Fund Management
Blacksheep Fund Management reported 7 stocks worth $310M in its 13F filing for Q2 2026, filed Aug 25, 2026. Its largest holdings are MA (25.5%), V (20.7%) and TDG (19.7%). Compared with Q1 2026, the fund added to MA and V and sold out of GRND.
Holdings
| # | Stock | Value | Weight | Shares | Change | Shares, 8 qtrs | Held |
|---|---|---|---|---|---|---|---|
| 1 |  MA Mastercard Incorporated | $78.8M | 25.5% | 153K | +66K (+75%) | 3 of 8 | |
| 2 |  V Visa Inc | $64M | 20.7% | 187K | +86K (+85%) | 3 of 8 | |
| 3 |  TDG Transdigm Group Inc | $60.9M | 19.7% | 46K | No change | 4 of 8 | |
| 4 |  MSFT Microsoft Corp | $48.5M | 15.7% | 130K | No change | 3 of 8 | |
| 5 |  FWONK Liberty Media Corp Del | $33.5M | 10.8% | 352K | No change | 7 of 8 | |
| 6 |  TCX Tucows Inc | $14.7M | 4.8% | 1.1M | No change | 8 of 8 | |
| 7 |  FWONA Liberty Media Corp Del Class Series A | $9.1M | 2.9% | 104K | No change | 7 of 8 |
Positions at Jun 30, 2026, as reported. Change is against the fund's Q1 2026 filing; weight is the share of the fund's reported stocks.
Sold out
held in Q1 2026, gone in Q2 2026| Stock | Value last quarter | Shares sold |
|---|---|---|
 GRND Grindr Inc | $15M | 1.2M |
Reported value
last 8 quartersThe value of the US stocks the fund reported, at quarter end prices. It moves with the market as well as with buying and selling.
Filings for Q2 2026
straight from the SEC| Filed | Form | Quarter | |
|---|---|---|---|
| Aug 25, 2026 | 13F-HR/A Amendment | Q2 2026 | SEC filing ↗ |
| Aug 14, 2026 | 13F-HR | Q2 2026 | SEC filing ↗ |
Includes an amendment, which can add positions the fund kept confidential at first, or replace the original report.
Other superinvestors
All hedge fund holdings →Blacksheep Fund Management 13F FAQ
What does Blacksheep Fund Management own?
Blacksheep Fund Management reported 7 stocks worth $310M in its 13F filing for Q2 2026, filed Aug 25, 2026. Its largest holdings are MA (25.5%), V (20.7%) and TDG (19.7%). The table above lists every position in the filing (the top 10 without an account).
What did Blacksheep Fund Management buy and sell in Q2 2026?
Compared with Q1 2026: 0 new positions, 2 added to, 0 trimmed and 1 sold out. It sold all of GRND.
When will Blacksheep Fund Management file its next 13F?
Holdings as of Sep 30, 2026 are due by Nov 16, 2026. The filing appears on this page within minutes of reaching the SEC.
How much is Blacksheep Fund Management's portfolio worth?
The Q2 2026 filing reports $310M in US stocks. That leaves out cash, bonds, short positions and most foreign holdings, so the fund's total assets are usually larger.
For informational and educational purposes only. Not investment advice, and not a recommendation to buy or sell any security. Holdings come from the fund's SEC Form 13F filings as reported and show positions at the end of the quarter, up to 45 days before the filing. The fund may have changed its positions since. A 13F leaves out short positions, cash, bonds and most foreign holdings. See all hedge fund holdings.