Blacksheep Fund Management Ltd

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
Total Positions
8
Quarter
2025 Q4
Top Holding
TDG (31.6%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-8 of 8
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
TDG
TRANSDIGM GROUP...
Industrials 31.61% 42.95% #1
Prev: #1
10.0 20,244 53.0%
P
S
58,464 $77,748,350 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MSFT
MICROSOFT CORP
Technology 16.57% #2
Prev: #—
8.6 84,280 no change
NEW
84,280 $40,759,494 2022 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FWONK
LIBERTY MEDIA C...
Communication Services 14.09% 31.32% #3 1
Prev: #2
5.6 no change no change
P
S
351,706 $34,646,558 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MA
MASTERCARD INCO...
Financial Services 10.29% #4
Prev: #—
6.1 44,320 no change
NEW
44,320 $25,301,402 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TCX
TUCOWS INC
Technology 9.95% 17.28% #5 2
Prev: #3
4.0 no change no change
P
S
1,091,985 $24,482,304 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
V
VISA INC
Financial Services 6.88% #6
Prev: #—
4.8 48,250 no change
NEW
48,250 $16,921,758 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GRND
GRINDR INC
Technology 6.83% #7
Prev: #—
4.7 1,241,080 no change
NEW
1,241,080 $16,804,223 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FWONA
LIBERTY MEDIA C...
Communication Services 3.78% 8.44% #8 4
Prev: #4
1.5 no change no change
P
S
104,010 $9,296,414 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-8 of 8 holdings

Unlock Full Blacksheep Fund Management Ltd Analysis

PRO subscribers get access to all historical quarters, Excel/CSV exports, Portfolio Concentration Analytics (PCA), and Risk-Based ENB.

Full Historical Quarters
Excel & CSV Export
PCA & Risk-Based ENB
Auto Cost Basis
Position Change Alerts
Price-Held Analytics