# Blacksheep Fund Management Ltd: Form 13F holdings

An institutional investment manager in Co. Dublin. SEC CIK 1800249.

- Quarter ended: 2026-06-30
- Filed: 2026-08-25
- Reported value: $309.6m
- Positions: 7 (7 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/1800249/000117266126003992/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [MASTERCARD INCORPORATED (MA)](/companies/ma.md) | CL A | $78.8m | 25.5% | 153,430 |  | Added +65,780 |
| [VISA INC (V)](/companies/v.md) | COM CL A | $64.0m | 20.7% | 186,550 |  | Added +85,840 |
| [TRANSDIGM GROUP INC (TDG)](/companies/tdg.md) | COM | $60.9m | 19.7% | 45,754 |  | Unchanged |
| [MICROSOFT CORP (MSFT)](/companies/msft.md) | COM | $48.5m | 15.7% | 130,140 |  | Unchanged |
| [LIBERTY MEDIA CORP DEL (FWONA)](/companies/fwona.md) | COM LBTY ONE S C | $33.5m | 10.8% | 351,706 |  | Unchanged |
| [TUCOWS INC (TCX)](/companies/tcx.md) | COM NEW | $14.7m | 4.8% | 1,091,985 |  | Unchanged |
| [LIBERTY MEDIA CORP DEL (FWONA)](/companies/fwona.md) | COM LBTY ONE S A | $9.1m | 2.9% | 104,010 |  | Unchanged |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [GRINDR INC (GRND)](/companies/grnd.md) | COM | $0 | 0.0% | 0 |  | Sold out −1,241,080 |

Source: SEC EDGAR, Form 13F-HR, accession 0001172661-26-003992. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.