Blacksheep Fund Management Ltd 13F annual report

Blacksheep Fund Management Ltd is an investment fund managing more than $130 billion ran by Jonathan Bull. There are currently 4 companies in Mr. Bull’s portfolio. The largest investments include Brookfield Corp and KKR & Co. Inc, together worth $106 billion.

$130 billion Assets Under Management (AUM)

As of 7th August 2024, Blacksheep Fund Management Ltd’s top holding is 1,627,774 shares of Brookfield Corp currently worth over $67.6 billion and making up 52.0% of the portfolio value. In addition, the fund holds 361,144 shares of KKR & Co. Inc worth $38 billion, whose value grew 20.7% in the past six months. The third-largest holding is Tucows worth $17.7 billion and the next is Brookfield Asset Managmt Ltd worth $6.77 billion, with 177,832 shares owned.

Currently, Blacksheep Fund Management Ltd's portfolio is worth at least $130 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Blacksheep Fund Management Ltd

The Blacksheep Fund Management Ltd office and employees reside in Co. Dublin, Ireland. According to the last 13-F report filed with the SEC, Jonathan Bull serves as the Chief Operating Officer at Blacksheep Fund Management Ltd.

Recent trades

In the most recent 13F filing, Blacksheep Fund Management Ltd revealed that it had opened a new position in Brookfield Corp and bought 1,627,774 shares worth $67.6 billion.

On the other hand, there are companies that Blacksheep Fund Management Ltd is getting rid of from its portfolio. Blacksheep Fund Management Ltd closed its position in Microsoft on 14th August 2024. It sold the previously owned 157,380 shares for $49.7 billion. Jonathan Bull also disclosed a decreased stake in KKR & Co. Inc by 0.8%. This leaves the value of the investment at $38 billion and 361,144 shares.

One of the smallest hedge funds

The two most similar investment funds to Blacksheep Fund Management Ltd are Pivotal Bioventure Partners Investment Advisor and Brown Advisory. They manage $130 billion and $130 billion respectively.

Jonathan Bull investment strategy

Blacksheep Fund Management Ltd’s portfolio is diversified across 3 sectors. Currently, their heaviest sector is Finance — making up 29.2% of the total portfolio value. The fund focuses on investments in the United States as 25.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 25% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $14.1 billion.

The complete list of Blacksheep Fund Management Ltd trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Brookfield Corp	Opened 1,627,774	$67,617,732,000	51.98%
Microsoft Corporation	Closed 157,380	$49,692,735,000
Berkshire Hathaway Inc.	Closed 81	$43,049,637,000
KKR & Co. Inc	77.90% 361,144	$38,006,795,000	29.22%
Tucows, Inc.	6.73% 915,154	$17,680,775,000	13.59%
Brookfield Asset Managmt Ltd	Opened 177,832	$6,766,508,000	5.20%
No transactions found
Showing first 500 out of 6 holdings