Blacksheep Fund Management Ltd 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Blacksheep Fund Management Ltd disclosed 4 US equity positions worth $117.3m in its Q3 2025 13F filing. The largest position was TDG at 43.0% of the reported book, followed by LLYVK and TCX. Against the Q2 2025 filing, it opened 1 new position, added to 0 and reduced 1 among the top 4 holdings.
What did Blacksheep Fund Management Ltd own in Q3 2025? Top 4 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | TDG TRANSDIGM GROUP INC | Industrials | 43.0% | $50.4m | 38,220 | – | new |
| 2 | LLYVK LIBERTY MEDIA CORP DEL | 31.3% | $36.7m | 351,706 | -8% | reduced | |
| 3 | TCX TUCOWS INC | 17.3% | $20.3m | 1,091,985 | 0% | held | |
| 4 | FWONA LIBERTY MEDIA CORP DEL | 8.4% | $9.9m | 104,010 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.