BFM
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Blacksheep Fund Management’s Tucows TCX Stock Holding History

Blacksheep Fund Management’s Portfolio TCX Stock Details TCX Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q2 		$14.7M Hold
1,091,985
– – 4.75% 6
2026
Q1 		$18.7M Hold
1,091,985
– – 7.58% 6
2025
Q4 		$24.5M Hold
1,091,985
– – 9.95% 5
2025
Q3 		$20.3M Hold
1,091,985
– – 17.28% 3
2025
Q2 		$21.5M Hold
1,091,985
– – 30.13% 2
2025
Q1 		$18.4M Buy
1,091,985
+188,360
+21% +$3.27M 30.03% 2
2024
Q4 		$15.5M Sell
903,625
-6,607
-0.7% -$117K 27.98% 2
2024
Q3 		$19M Sell
910,232
-4,922
-0.5% -$107K 17.52% 3
2024
Q2 		$17.7M Hold
915,154
– – 13.59% 3
2024
Q1 		$17M Sell
915,154
-12,316
-1% -$258K 11.42% 3
2023
Q4 		$25M Sell
927,470
-53,760
-5% -$1.14M 9.91% 4
2023
Q3 		$20M Hold
981,230
– – 9.38% 4
2023
Q2 		$27.2M Hold
981,230
– – 8.66% 4
2023
Q1 		$19.1M Sell
981,230
-166,021
-14% -$4.79M 5.36% 5
2022
Q4 		$38.9M Sell
1,147,251
-13,755
-1% -$498K 9.1% 6
2022
Q3 		$43.4M Hold
1,161,006
– – 8.72% 6
2022
Q2 		$51.7M Buy
1,161,006
+16,153
+1% +$855K 8.53% 5
2022
Q1 		$78.2M Buy
1,144,853
+83,630
+8% +$6.18M 12.09% 4
2021
Q4 		$89M Hold
1,061,223
– – 12.22% 5
2021
Q3 		$83.8M Buy
1,061,223
+85,690
+9% +$6.61M 9.92% 6
2021
Q2 		$78.4M Buy
975,533
+372,402
+62% +$29.5M 10.39% 6
2021
Q1 		$46.7M Buy
603,131
+55,447
+10% +$4.46M 9.64% 6
2020
Q4 		$40.5M Buy
547,684
+100,080
+22% +$7.44M 10.06% 5
2020
Q3 		$30.8M Hold
447,604
– – 9.88% 6
2020
Q2 		$25.7M Hold
447,604
– – 10.85% 5
2020
Q1 		$21.6M Buy
447,604
+131,716
+42% +$7.38M 10.66% 5
2019
Q4 		$19.5M Buy
+315,888
New +$18M 14.52% 4

Other funds holding TCX

EIG
EdgePoint Investment Group Toronto, Ontario, Canada $13.2B AUM 32.43% 1-Year Est. Return
BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Universal-Beteiligungs- und Servicegesellschaft
Universal-Beteiligungs- und Servicegesellschaft Frankfurt Am Main, Germany $65.4B AUM 39.83% 1-Year Est. Return
Vanguard Capital Management
Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
BBA
Baader Bank Aktiengesellschaft Unterschleissheim, Germany $1.33B AUM 47.35% 1-Year Est. Return
ASA
Axxion S.A. Grevenmacher, Luxembourg $1.41B AUM
Renaissance Technologies
Renaissance Technologies New York $72.6B AUM 54.88% 1-Year Est. Return
Russell Investments Group
Russell Investments Group London, United Kingdom $114B AUM 41.71% 1-Year Est. Return

Blacksheep Fund Management's TCX Position: Q2 2026 in Review

Blacksheep Fund Management held its Tucows (TCX) position steady in Q2 2026 at 1,091,985 shares worth $14.7M. The position accounts for 4.75% of the portfolio, ranked #6.

Blacksheep Fund Management first reported a position in TCX in Q4 2019 and has held it in 27 quarters since. The position peaked at $89M in Q4 2021. 69 funds tracked by Wall St. Rank hold TCX as of Q2 2026.

  • Blacksheep Fund Management held 1,091,985 shares of Tucows worth $14.7M as of Q2 2026.
  • Blacksheep Fund Management left its Tucows share count unchanged in Q2 2026.
  • Tucows made up 4.75% of Blacksheep Fund Management's portfolio in Q2 2026, its #6 holding.
  • Blacksheep Fund Management first reported a position in Tucows in Q4 2019 and has held it in 27 quarters since.
  • Blacksheep Fund Management's Tucows position peaked at $89M in Q4 2021.
  • 69 funds tracked by Wall St. Rank held Tucows as of Q2 2026.

Based on Blacksheep Fund Management's 13F filing for Q2 2026, filed 14 Aug 2026.