Blacksheep Fund Management Ltd

Est. AUM

$247.2M

13F long equity, this entity only

Positions

Period

Mar 2026 (Q1)

SEC EDGAR

Mar 2026 (Q1)

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	TRANSDIGM GROUP INC	COM	$53.0M	45754	21.45%	SOLE
2	MICROSOFT CORP	COM	$48.2M	130140	19.49%	SOLE
3	MASTERCARD INCORPORATED	CL A	$43.8M	87650	17.72%	SOLE
4	VISA INC	COM CL A	$30.4M	100710	12.31%	SOLE
5	LIBERTY MEDIA CORP DEL	COM LBTY ONE S C	$29.9M	351706	12.10%	SOLE
6	TUCOWS INC	COM NEW	$18.7M	1091985	7.58%	SOLE
7	GRINDR INC	COM	$15.0M	1241080	6.07%	SOLE
8	LIBERTY MEDIA CORP DEL	COM LBTY ONE S A	$8.1M	104010	3.29%	SOLE

Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.