SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Ursa Fund Management, LLC

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

Reported Value
$80M
Q2 2025
Positions
31
Filings on Record
31
2019–present window
Filed
Aug 14, 2025
original filing

Summary

Ursa Fund Management, LLC reported $80M in U.S.-listed holdings across 31 positions for Q2 2025.

Its largest position, Kraneshares, represents 19.3% of the portfolio.

Compared with Q1 2025, the fund opened 19 new positions and exited 11.

Portfolio Metrics

Turnover
+59.8%
vs prior filed quarter
Top-10 Concentration
+47.8%
share of reported value
Largest Position
+19.3%
Kraneshares
New / Exited
19 / 11
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: 44.9%ETP: 41.4%Closed-End Fund: 9.8%Other: 3.2%PUBLIC: 0.6%Other: 0.0%
  • Common Stock · 44.9% · $36M
  • ETP · 41.4% · $33M
  • Closed-End Fund · 9.8% · $8M
  • Other · 3.2% · $3M
  • PUBLIC · 0.6% · $496,188
  • Other · 0.0% · $37,757

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KRANESHARES TRUSTNEW+900.0K900.0K+$31M$31M
WOOFOOT LOCKER INCNEW+789.7K789.7K+$19M$19M
SKAASKECHERS U S A INCNEW+775.4K775.4K+$12M$12M
CANTOR EQUITY PARTNERS INCNEW+24.0K24.0K+$666,960$666,960
PARAAPARAMOUNT GLOBALNEW+38.8K38.8K+$500,520$500,520
WHEELER REAL ESTATE INVT TRNEW+125.3K125.3K+$496,188$496,188
BERTO ACQUISITION CORPNEW+38.0K38.0K+$395,960$395,960
RENATUS TACTICAL ACQUISNEW+25.0K25.0K+$318,250$318,250

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

Holdings — Q2 2025

23 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1KRANESHARES TRUSTCSI CHI INTERNET19.25%$15M450.0K
2SKAASKECHERS U S A INChistory →CL A11.80%$9M150.0K
3CRFCORNERSTONE TOTAL RETURN FDhistory →COM7.00%$6M725.0K
4IBITISHARES BITCOIN TRUST ETFhistory →SHS BEN INT2.87%$2M37.6K
5CLMCORNERSTONE STRATEGIC INVESThistory →COM2.78%$2M275.0K
6WOOFOOT LOCKER INChistory →COM1.88%$2M61.5K
7CANTOR EQUITY PARTNERS INCSHS CL A0.68%$541,90519.5K
8WHEELER REAL ESTATE INVT TRCV PFD SER B0.62%$496,188125.3K
9BERTO ACQUISITION CORPORD SHS0.49%$395,96038.0K
10RENATUS TACTICAL ACQUISSHS CL A0.40%$318,25025.0K
11CANTOR EQUITY PARTNERS III ISHS CL A0.33%$263,75025.0K
12BEBLOOM ENERGY CORPCOM CL A0.30%$239,20010.0K
13COLUMBUS CIRCLE CAP CORP. ISPON ADR NEW0.26%$212,40020.0K
14LCEURLENDINGCLUB CORPCOM NEW0.22%$180,45015.0K
15CANTOR EQUITY PARTNERS II INCL A ORD SHS0.21%$165,45015.0K
16PROCAP ACQUISITION CORPUNIT 05/16/20300.17%$139,36013.0K
17CANTOR EQUITY PARTNERS I INCSHS CL A0.15%$119,00010.0K
18M3BRIGADE ACQUISITION V CORPCL A0.14%$112,90010.0K
19DDC ENTERPRISE LTDCL A ORD SHS0.14%$109,00010.0K
20GENIUS GROUP LTDSHS NEW0.06%$51,00037.5K
21MSPRWMSP RECOVERY INC*W EXP 05/20/2020.05%$37,75718.88M
22MEGA MATRIX INCCL A ORD SHS0.04%$29,00025.0K
23SILO PHARMA INCCOM NEW0.03%$23,62537.5K

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 ↗.