Blacksheep Fund Management Ltd

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Blacksheep Fund Management Ltd reported 4 stock positions worth $148.8 million. Its top holding was Brookfield (BN) at 50.3% of the portfolio, followed by KKR (KKR, 33.2%) and Tucows Class A (TCX, 11.4%). Compared with Q4 2023, it sold out of 2 and reduced 4. The biggest sale was an exit from Berkshire Hathaway Class A (BRK.A).

Most Recent 13F
Q2 2026
Location
Co. Dublin, L2
CIK
0001800249
Portfolio Value
$148.8M (Q1 2024)
SEC Filing
0001172661-24-002325 ↗ filed May 15, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $148.8M $148.8M Q1 2024 Q2 2024: $130.1M Q2 2024 Q3 2024: $108.6M Q3 2024 Q4 2024: $55.4M Q4 2024 Q1 2025: $61.4M Q1 2025 Q2 2025: $71.4M Q2 2025 Q3 2025: $117.3M Q3 2025 Q4 2025: $246.0M Q4 2025 Q1 2026: $247.2M Q1 2026 Q2 2026: $309.6M Q2 2026

Holdings 4 stocks · $148.8M
BN Brookfield Corp. 50.32% 1,787,884 $74.9M Reduce -29.5%
KKR KKR & Co. Inc. 33.24% 491,554 $49.4M Reduce -35.2%
TCX Tucows Inc. Class A 11.42% 915,154 $17.0M Reduce -1.3%
BAM Brookfield Asset Mgmt-A 5.02% 177,832 $7.5M Reduce -47.9%

Portfolio Sells Q4 2023 → Q1 2024
BRK.A Berkshire Hathaway Inc. Class A Sold out 0.00% −10.09
MSFT Microsoft Corp. Sold out 0.00% −9.41
BAM Brookfield Asset Mgmt-A Reduce -47.9% 5.02% −0.41
TCX Tucows Inc. Class A Reduce -1.3% 11.42% +1.51
KKR KKR & Co. Inc. Reduce -35.2% 33.24% +8.36
BN Brookfield Corp. Reduce -29.5% 50.32% +10.04

Portfolio Buys Q4 2023 → Q1 2024
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 7$309.6MMA, V, TDG, MSFT, FWONK
Q1 2026 8$247.2MTDG, MSFT, MA, V, FWONK
Q4 2025 8$246.0MTDG, MSFT, FWONK, MA, TCX
Q3 2025 4$117.3MTDG, FWONK, TCX, FWONA
Q2 2025 3$71.4MFWONK, TCX, FWONA
Q1 2025 3$61.4MFWONK, TCX, FWONA
Q4 2024 4$55.4MFWONK, TCX, BN, FWONA
Q3 2024 4$108.6MBN, KKR, TCX, BAM
Q2 2024 4$130.1MBN, KKR, TCX, BAM
Q1 2024 4$148.8MBN, KKR, TCX, BAM