SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Ursa Fund Management, LLC

CIK 0001693838 · 156 DIABLO RD, STE 250, DANVILLE, CA, 94526 · 415-529-6040

Reported Value
$256M
Q1 2022
Positions
69
Filings on Record
31
2019–present window
Filed
May 18, 2022
amendment (RESTATEMENT)

Summary

Ursa Fund Management, LLC reported $256M in U.S.-listed holdings across 69 positions for Q1 2022.

The portfolio is heavily concentrated: Pershing Square Tontine Hldg alone accounts for 24.4% of reported value.

Compared with Q4 2021, the fund opened 21 new positions and exited 41.

Portfolio Metrics

Turnover
+5.1%
vs prior filed quarter
Top-10 Concentration
+44.0%
share of reported value
Largest Position
+24.4%
Pershing Square Tontine Hldg
New / Exited
21 / 41
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $2.4BQ4 ’18Q1 ’19: $1.2BQ2 ’19: $1.6BQ3 ’19: $141MQ4 ’19: $2.4BQ4 ’19Q1 ’20: $347MQ2 ’20: $1.7BQ3 ’20: $193MQ4 ’20: $1.6BQ4 ’20Q1 ’21: $92MQ2 ’21: $78MQ3 ’21: $281MQ4 ’21: $4.2BQ4 ’21Q1 ’22: $256MQ2 ’22: $587MQ3 ’22: $148MQ4 ’22: $67MQ4 ’22Q1 ’23: $269MQ2 ’23: $413MQ3 ’23: $20MQ4 ’23: $58MQ4 ’23Q1 ’24: $49MQ2 ’24: $36MQ3 ’24: $76MQ4 ’24: $1.3BQ4 ’24Q1 ’25: $39MQ2 ’25: $80MQ3 ’25: $89MQ4 ’25: $2.4BQ4 ’25Q1 ’26: $108Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 56.7%REIT: 17.8%Other: 16.5%ETP: 8.8%Unit: 0.1%
  • Common Stock · 56.7% · $145M
  • REIT · 17.8% · $46M
  • Other · 16.5% · $42M
  • ETP · 8.8% · $23M
  • Unit · 0.1% · $252,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BLUEROCK RESIDENTIAL GWT REINEW+1.03M1.03M+$27M$27M
INVESCO EXCHANGE TRADED FD TNEW+50.0K50.0K+$23M$23M
ZNGAEURZYNGA INCNEW+1.40M1.40M+$13M$13M
HTAEURHEALTHCARE TR AMER INCNEW+406.4K406.4K+$13M$13M
BDXBECTON DICKINSON & CONEW+42.4K42.4K+$11M$11M
LIONHEART ACQUISITION CORP INEW+941.2K941.2K+$10M$10M
ZIM INTEGRATED SHIPPING SERVNEW+91.8K91.8K+$7M$7M
BROOKFIELD BUSINESS PARTNERSNEW+139.9K139.9K+$4M$4M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2022

32 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PERSHING SQUARE TONTINE HLDGCOM CL A · *W EXP 07/24/20224.78%$63M4.27M
2BLUEROCK RESIDENTIAL GWT REICOM CL A6.75%$17M650.0K
3LIONHEART ACQUISITION CORP ICOM CL A · *W EXP 02/14/2024.00%$10M2.14M
4ZNGAEURZYNGA INChistory →CL A2.17%$6M601.2K
5BDXBECTON DICKINSON & COhistory →COM2.15%$6M21.2K
6RETAIL VALUE INCCOM1.68%$4M1.40M
7SPWHSPORTSMANS WHSE HLDGS INChistory →COM1.15%$3M275.0K
8MMM3M COCOM0.77%$2M13.2K
9HTAEURHEALTHCARE TR AMER INCCL A NEW0.74%$2M60.0K
10SIRIUSPOINT LTDCOM0.30%$773,000103.5K
11MIC2USDMACQUARIE INFRASTR HOLD LLCCOMMON UNITS0.22%$560,000150.0K
12KISMET ACQUISITION TWO CORPCL A SHS0.19%$492,00050.0K
13MDH ACQUISITION CORPCOM CL A0.19%$489,00050.0K
14EAST STONE ACQUISITION CORPRIGHT 02/24/20270.12%$316,000900.0K
15LIBERTY RES ACQUISITION CORPUNIT 10/31/20280.10%$256,00025.0K
16GOGREEN INVESTMENTS CORPUNIT 99/99/99990.10%$253,00025.0K
17HUNT COMPANIES ACQUISITIOUNIT 99/99/99990.10%$253,00025.0K
18CNGLUCANNA GLOBAL ACQUISITION CORUNIT 11/30/20260.10%$252,00025.0K
19ASCENDANT DIGITAL ACQ CORP IUNIT 99/99/99990.10%$252,00025.0K
20PERCEPTION CAPITAL CORP IICLASS A ORD0.10%$252,00025.0K
21VISION SENSING ACQUISITION CUNIT 10/21/20260.10%$251,00025.0K
22ROTH CH ACQUISITION V COUNIT 12/10/20260.10%$249,00025.0K
23ITHAX ACQUISITION CORPCL A SHS0.10%$247,00025.0K
24HAYMAKER ACQUISITION CORP IICLASS A COM0.10%$247,00025.0K
25SILVER CREST ACQUISITION CORCL A SHS0.10%$246,00025.0K
26EVO ACQUISITION CORPCOM CL A0.10%$246,00025.0K
27AGILE GROWTH CORPCLASS A ORD0.10%$245,00025.0K
28PONTEM CORPORATIONSHS CL A0.10%$245,00025.0K
29MISSION ADVANCEMENT CORPCL A0.10%$245,00025.0K
30SILVER SPIKE ACQUISITN CORPCLASS A ORD SHS0.10%$245,00025.0K
31BLUERIVER ACQUISITION CORPSHS CL A0.10%$245,00025.0K
32FUSION ACQUISITION CORP IICOM CL A0.10%$245,00025.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$108M20May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$2.4B44Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$89M18Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$80M31Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$39M21May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.3B19Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$76M17Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$36M9Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$49M23May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$58M37Feb 1, 202413F-HRchanges · EDGAR ↗
Q3 2023$20M27Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$413M20Aug 9, 202313F-HRchanges · EDGAR ↗
Q1 2023$269M17May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$67M19Jan 26, 202313F-HRchanges · EDGAR ↗
Q3 2022$148M31Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$587M23Jul 28, 202213F-HRchanges · EDGAR ↗
Q1 2022$256M69May 18, 2022RESTATEMENTchanges · EDGAR ↗
Q4 2021$4.2B86Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$281M19Nov 5, 202113F-HRchanges · EDGAR ↗
Q2 2021$78M15Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$92M20May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.6B29Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$193M34Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.7B22Aug 4, 202013F-HRchanges · EDGAR ↗
Q1 2020$347M12May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.4B15Jan 29, 202013F-HRchanges · EDGAR ↗
Q3 2019$141M14Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.6B16Jul 30, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.2B11May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$2.4B25Jan 8, 201913F-HRchanges · 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 ↗.