Ursa Fund Management, LLC
Long book
$32.7M
Q1 2026
Positions
11
Top-10 weight
99%
concentration
Last quarter
+4.2%
SPY +14.8%
Turnover
90%
of book per quarter
Strategy in plain words
auto-generated from filingsUrsa Fund Management, LLC is a concentrated fundamental stock-picker, running a $32.7M US long book across 11 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: PENUMBRA INC, COLUMBIA FINANCIAL INC, ISHARES BITCOIN TRUST ETF, GABELLI EQUITY TRUST, ISHARES 0-3 MONTH TREASURY B.
Over the last 9 quarters its long book ran on average 5.1pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-18.8%
Q2 2024
+3.5%
Q3 2024
+0.8%
Q4 2024
-9.8%
Q1 2025
+14.8%
Q2 2025
+17.3%
Q3 2025
-1.0%
Q4 2025
-16.4%
Q1 2026
+4.2%
Sector allocation
Healthcare 48%
Financials 42%
Technology 10%
Long book by quarter
What does Ursa Fund own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 20 | $107.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 44 | $2.44B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 18 | $89.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 31 | $80.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 21 | $39.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 19 | $1.33B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 17 | $75.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 9 | $36.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 23 | $48.7M | canonical | SEC ↗ |
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