Blacksheep Fund Management Ltd

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Blacksheep Fund Management Ltd reported 4 stock positions worth $108.6 million. Its top holding was Brookfield (BN) at 50.8% of the portfolio, followed by KKR (KKR, 25.3%) and Tucows Class A (TCX, 17.5%). Compared with Q2 2024, it reduced 4. The biggest sale was KKR (KKR, shares −42%).

Most Recent 13F
Q2 2026
Location
Co. Dublin, L2
CIK
0001800249
Portfolio Value
$108.6M (Q3 2024)
SEC Filing
0001172661-24-004915 ↗ filed Nov 14, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $148.8M Q1 2024 Q2 2024: $130.1M Q2 2024 Q3 2024: $108.6M $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 · $108.6M
BN Brookfield Corp. 50.84% 1,038,404 $55.2M Reduce -36.2%
KKR KKR & Co. Inc. 25.30% 210,364 $27.5M Reduce -41.8%
TCX Tucows Inc. Class A 17.52% 910,232 $19.0M Reduce -0.5%
BAM Brookfield Asset Mgmt-A 6.34% 145,552 $6.9M Reduce -18.1%

Portfolio Sells Q2 2024 → Q3 2024
KKR KKR & Co. Inc. Reduce -41.8% 25.30% −3.92
BN Brookfield Corp. Reduce -36.2% 50.84% −1.14
BAM Brookfield Asset Mgmt-A Reduce -18.1% 6.34% +1.14
TCX Tucows Inc. Class A Reduce -0.5% 17.52% +3.92

Portfolio Buys Q2 2024 → Q3 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