Managers / Q3 2021 · view latest →
Ursa Fund Management, LLC
CIK 0001693838 · 156 DIABLO RD, STE 250, DANVILLE, CA, 94526 · 415-529-6040
Summary
Ursa Fund Management, LLC reported $281M in U.S.-listed holdings across 19 positions for Q3 2021.
The portfolio is heavily concentrated: Macquarie Infrastr Hold alone accounts for 36.1% of reported value.
Compared with Q2 2021, the fund opened 10 new positions and exited 10.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 94.7% · $266M
- Other · 5.3% · $15M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| MACQUARIE INFRASTR HOLD LLC | NEW | +3.93M | 3.93M | +$159M | $159M |
| PERSHING SQUARE TONTINE HLDG | NEW | +2.89M | 2.89M | +$57M | $57M |
| VMWARE INC | NEW | +174.0K | 174.0K | +$26M | $26M |
| ISTAR INC | NEW | +441.0K | 441.0K | +$11M | $11M |
| BLUE APRON HLDGS INC | NEW | +433.3K | 433.3K | +$3M | $3M |
| PPCPILGRIMS PRIDE CORP | NEW | +100.0K | 100.0K | +$3M | $3M |
| LIONHEART ACQUISITION CORP I | NEW | +770.0K | 770.0K | +$662,000 | $662,000 |
| REXNORD CORP | NEW | +7.0K | 7.0K | +$450,000 | $450,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MACQUARIE INFRASTR HOLD LLC | COMMON UNITS | 36.15% | $101M | 2.50M |
| 2 | PERSHING SQUARE TONTINE HLDG | COM CL A | 10.74% | $30M | 1.53M |
| 3 | MEREDITH CORP | COM | 4.14% | $12M | 208.7K |
| 4 | BLUE APRON HLDGS INC | CL A NEW | 0.57% | $2M | 216.8K |
| 5 | LIONHEART ACQUISITION CORP I | *W EXP 02/14/202 | 0.24% | $662,000 | 770.0K |
| 6 | REXNORD CORP | COM | 0.16% | $450,000 | 7.0K |
| 7 | SPNTSIRIUSPOINT LTD | COM | 0.12% | $329,000 | 45.5K |
| 8 | RIVERNORTH DOUBLELINE STRATE | RIGHT 10/01/2021 | 0.00% | $2,000 | 350.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $108M | 20 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $2.4B | 44 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $89M | 18 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $80M | 31 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $39M | 21 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $1.3B | 19 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $76M | 17 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $36M | 9 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $49M | 23 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $58M | 37 | Feb 1, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $20M | 27 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $413M | 20 | Aug 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $269M | 17 | May 3, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $67M | 19 | Jan 26, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $148M | 31 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $587M | 23 | Jul 28, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $256M | 69 | May 18, 2022 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2021 | $4.2B | 86 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $281M | 19 | Nov 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $78M | 15 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $92M | 20 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $1.6B | 29 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $193M | 34 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $1.7B | 22 | Aug 4, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $347M | 12 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $2.4B | 15 | Jan 29, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $141M | 14 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $1.6B | 16 | Jul 30, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $1.2B | 11 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $2.4B | 25 | Jan 8, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.