SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Ursa Fund Management, LLC

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

Reported Value
$39M
Q1 2025
Positions
21
Filings on Record
31
2019–present window
Filed
May 15, 2025
original filing

Summary

Ursa Fund Management, LLC reported $39M in U.S.-listed holdings across 21 positions for Q1 2025.

The portfolio is heavily concentrated: Equity Comwlth alone accounts for 29.0% of reported value.

Compared with Q4 2024, the fund opened 11 new positions and exited 7.

Portfolio Metrics

Turnover
+3.5%
vs prior filed quarter
Top-10 Concentration
+70.4%
share of reported value
Largest Position
+29.0%
Equity Comwlth
New / Exited
11 / 7
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, 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

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: 60.8%MLP: 19.6%ETP: 16.9%Closed-End Fund: 1.4%Other: 1.0%Equity WRT: 0.1%
  • Common Stock · 60.8% · $24M
  • MLP · 19.6% · $8M
  • ETP · 16.9% · $7M
  • Closed-End Fund · 1.4% · $544,750
  • Other · 1.0% · $404,000
  • Equity WRT · 0.1% · $56,636

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ABALLIANCEBERNSTEIN HLDG L PNEW+200.0K200.0K+$8M$8M
DESKTOP METAL INCNEW+920.9K920.9K+$5M$5M
IBITISHARES BITCOIN TRUST ETFNEW+73.0K73.0K+$3M$3M
PARAMOUNT GLOBALNEW+265.2K265.2K+$3M$3M
FBTCFIDELITY WISE ORIGIN BITCOINNEW+36.0K36.0K+$3M$3M
SGOVISHARES TRNEW+6.0K6.0K+$604,020$604,020
CHECKPOINT THERAPEUTICS INCNEW+100.0K100.0K+$404,000$404,000
CRFCORNERSTONE TOTAL RETURN FDNEW+50.0K50.0K+$359,000$359,000

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

Holdings — Q1 2025

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EQUITY COMWLTHCOM SH BEN INT28.98%$11M7.03M
2ABALLIANCEBERNSTEIN HLDG L Phistory →UNIT LTD PARTN19.63%$8M200.0K
3LIONS GATE ENTMNT CORPCL A VTG7.11%$3M313.3K
4IBITISHARES BITCOIN TRUST ETFhistory →SHS BEN INT4.26%$2M35.5K
5FBTCFIDELITY WISE ORIGIN BITCOINhistory →SHS3.32%$1M18.0K
6PPLIIAC INChistory →COM NEW2.83%$1M24.0K
7SGOVISHARES TRhistory →0-3 MNTH TREASRY1.55%$604,0206.0K
8CHECKPOINT THERAPEUTICS INCCOM NEW1.04%$404,000100.0K
9CRFCORNERSTONE TOTAL RETURN FDCOM0.92%$359,00050.0K
10PARAMOUNT GLOBALCLASS B COM0.80%$313,35226.2K
11CORZCORE SCIENTIFIC INC NEWCOM0.56%$217,20030.0K
12BEBLOOM ENERGY CORPCOM CL A0.50%$196,60010.0K
13CLMCORNERSTONE STRATEGIC INVESTCOM0.48%$185,75025.0K
14SNAPSNAP INCCL A0.33%$130,65015.0K
15MSPRWMSP RECOVERY INC*W EXP 05/20/2020.15%$56,63618.88M

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 ↗.