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Blacksheep Fund Management LTD

CIK:0001800249
Hedge Fund
$55M AUM
3 holdings
Blackrock, Dublin, Ireland
Founded:2019
5 employees
Latest filing:Jun 30, 2025

Blacksheep Fund Management Ltd is an Ireland-based hedge fund investment firm headquartered in Blackrock, Dublin. The firm is registered with the SEC (CIK: 0001800249). It manages alternative investment vehicles and has reported as managing assets on behalf of pooled investment vehicles such as hedge funds. It conducts fundamental long/short equity strategies with a focus on public securities and derivatives. Founded prior to 2019, the firm has managed several master and feeder structures. Employee count is not publicly disclosed.

Investment Strategy

Blacksheep Fund Management Ltd primarily deploys a fundamental discretionary long/short equity strategy, investing in global public equities and related derivatives. The firm actively manages concentrated positions and adjusts exposure tactically based on a blend of company-specific research and sector trends. Its portfolio often incorporates a small number of high conviction positions such as Liberty Media and Tucows, as evidenced by the concentration of its 13F filings. The fund aims for outperformance while maintaining an opportunistic approach to new and divested positions.

Latest 13F Filing Activity

Blacksheep Fund Management LTD filed their most recent 13F report on Jun 30, 2025 disclosing 3 equity positions with a total 13F market value of $71M. The fund increased holdings in Liberty Media Corp. Del, Tucows Inc., Liberty Media Corp. Del. Blacksheep Fund Management LTD reduced exposure to Liberty Media Corp. Del, Tucows Inc., Liberty Media Corp. Del.

Top Buys
F
FWONKLIBERTY MEDIA CORP DEL
+$5.6M
T
TCXTUCOWS INC
+$3.1M
F
FWONALIBERTY MEDIA CORP DEL
+$1.4M
Top Sells
F
FWONKLIBERTY MEDIA CORP DEL
+$5.6M
T
TCXTUCOWS INC
+$3.1M
F
FWONALIBERTY MEDIA CORP DEL
+$1.4M

Top Holdings

F
FWONKLIBERTY MEDIA CORP DEL
+56.0%$40.0M
T
TCXTUCOWS INC
+30.1%$21.5M
F
FWONALIBERTY MEDIA CORP DEL
+13.8%$9.9M

Equity Positions (3)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
LIBERTY MEDIA CORP DEL56.04%$40.0M383,056$91.83$104.50+$5.6M
TUCOWS INC30.13%$21.5M1,091,985$60.41$19.71+$3.1M
LIBERTY MEDIA CORP DEL13.83%$9.9M104,010$82.95$94.96+$1.4M

Industry Allocation

AIRCRAFT PARTS & AUXILIARY EQUIPMENT, NEC
+43.0%
TELEVISION BROADCASTING STATIONS
+39.8%
SERVICES-COMPUTER PROCESSING & DATA PREPARATION
+17.3%