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BFM

Blacksheep Fund Management Portfolio holdings

AUM $247M
1-Year Est. Return 8.75%
This Fund
S&P 500
This Quarter Est. Return
-2.48%
1 Year Est. Return
-8.75%
3 Year Est. Return
+81.58%
5 Year Est. Return
+49.86%
10 Year Est. Return
–
AUM
$61.4M
AUM Growth
+$6.03M
Cap. Flow
+$7.69M
Cap. Flow %
12.53%
Top 10 Hldgs %
100%
Holding
4
New
–
Increased
3
Reduced
–
Closed
1

Top Buys

Rank Stock Value
1
FWONK icon
Liberty Media Series C
FWONK
+$11.1M
2
FWONA icon
Liberty Media Series A
FWONA
+$3.75M
3
TCX icon
Tucows
TCX
+$3.27M

Top Sells

Rank Stock Value
1
BN icon
Brookfield
BN
+$10.4M

Sector Composition

Rank Sector Weight
1 Communication Services 69.97%
2 Technology 30.03%
3 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FWONK icon
1
Liberty Media Series C
FWONK
$24.6B
$34.5M 56.17%
383,056
+119,760
+45% +$11.1M
TCX icon
2
Tucows
TCX
$95.7M
$18.4M 30.03%
1,091,985
+188,360
+21% +$3.27M
FWONA icon
3
Liberty Media Series A
FWONA
$22.6B
$8.47M 13.8%
104,010
+44,090
+74% +$3.75M
BN icon
4
Brookfield
BN
$103B
– –
-272,423
Closed -$10.4M

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VWM
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CIA
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RC
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FA
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AI
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Blacksheep Fund Management's Q1 2025 Portfolio in Review

As of Q1 2025, Blacksheep Fund Management held 4 positions worth $61.4M, up 11% from $55.4M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Blacksheep Fund Management deployed $7.69M of net new capital in Q1 2025, adding to 3 existing holdings.

By sector, the portfolio is most concentrated in Communication Services at 70% of assets, up from 53% a quarter earlier, followed by Technology and Financials.

On the sell side, the most notable exit was Brookfield, an estimated $10.4M sold.

  • Blacksheep Fund Management added most to Liberty Media Series C in Q1 2025, an estimated $11.1M increase.
  • Blacksheep Fund Management fully exited Brookfield in Q1 2025, selling an estimated $10.4M.
  • Blacksheep Fund Management's ten largest holdings make up 100% of its $61.4M portfolio in Q1 2025.
  • Blacksheep Fund Management opened 0 new positions and closed 1 in Q1 2025.
  • Blacksheep Fund Management's portfolio value rose 11% quarter-over-quarter to $61.4M.

Based on Blacksheep Fund Management's 13F filing for Q1 2025, filed 15 May 2025.