UF
Ursa Fund Management, LLC — 13F Portfolio Changes & Top Buys (Q2 2026)
Ursa Fund Management, LLCCIK: 0001693838
High-turnover traderSector-focusedMomentum follower
Total reported value
$1.3B
Reporting period: 2026-06-30 · Number of holdings: 38
Ursa Fund Management, LLC disclosed 38 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.3B and a quarterly turnover rate of 180.1%.
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Personality snowflake
- Concentration
- 80.56
- Portfolio Stability
- 100
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 52
- Sizing Uniformity
- 79.01
Ursa Fund Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.201 — mathematically equivalent to about 5 equally-sized positions, well below its 38 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.10), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy MSFT
Sold out PEN
Trim SPY
+50.0% $23.5M
New buy MU
New buy TSLA
Trim KRE
+61.6% $11.2M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 26 holdings (of 38 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 32.08% | +32.08% | NEW | |
| 2 | MU | Micron Technology Inc | Stock-Tech | 22.56% | +22.56% | NEW | |
| 3 | TSLA | Tesla Inc | Stock-Consumer Disc | 19.73% | +19.73% | NEW | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 5.59% | +5.59% | NEW | |
| 5 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 4.38% | -25.86% | +50.00% | |
| 6 | CLBK | Columbia Financial Inc | Stock-Other | 3.70% | -4.44% | +346.32% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 3.13% | +3.13% | NEW | |
| 8 | GAB | Gabelli Equity Trust | Stock-Other | 2.46% | +0.54% | +1409.88% | |
| 9 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 1.89% | -10.23% | +61.60% | |
| 10 | EOSE | Eos Energy Enterprises Inc | Stock-Other | 1.26% | +1.26% | NEW | |
| 11 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.17% | -5.75% | +66.67% | |
| 12 | NFBK | Northfield Bancorp Inc | Stock-Other | 0.46% | -0.80% | +300.00% | |
| 13 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.38% | -2.05% | +112.35% | |
| 14 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.33% | +0.33% | NEW | |
| 15 | OPTU | Optimum Communications Inc-a | Stock-Comm Services | 0.32% | +0.32% | NEW | |
| 16 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.25% | +0.25% | NEW | |
| 17 | WHLR 9 PERP BBond | Wheeler Reit Inc | Bond | 0.13% | -0.90% | +0.63% | |
| 18 | QXO | Qxo Inc | Stock-Industrials | 0.08% | +0.08% | NEW | |
| 19 | SSTK | Shutterstock Inc | Stock-Other | 0.02% | +0.02% | NEW | |
| 20 | RMAX | Re/max Holdings Inc-cl A | Stock-Other | 0.02% | +0.02% | NEW | |
| 21 | PLUG | Plug Power Inc | Stock-Industrials | 0.02% | +0.02% | NEW | |
| 22 | INM | Inmed Pharmaceuticals Inc | Stock-Other | 0.02% | +0.02% | NEW | |
| 23 | GETY | Getty Images Holdings Inc | Stock-Other | 0.01% | +0.01% | NEW | |
| 24 | CSIQ | Canadian Solar Inc | Stock-Other | 0.01% | +0.01% | NEW | |
| 25 | PSKY | Paramount Skydance Cl B | Stock-Comm Services | 0.01% | +0.01% | NEW | |
| 26 | SPCE | Virgin Galactic Holdings Inc | Stock-Other | 0.01% | +0.01% | NEW |
Portfolio Performance
Performance for Q3 2026
+1.1%
Performance Last 4 Quarters
-5.9%
- Stdev
- +37.2%
- Beta
- -0.02
- Alpha
- -21.6%
- Max Drawdown
- -41.7%
- Annualized Perf
- -25.8%
- Batting Avg vs S&P
- +29.6%
- Sortino
- -0.71
- Stutzer
- -0.18
- Treynor
- +8.87
- Sterling
- -1.05
- Calmar
- -0.62
- Information Ratio
- -1.02
- Tracking Error
- +38.8%
- Stdev Down
- +31.2%
- Winning Months %
- +37%
- Losing Months %
- +63%
- Best 12 Months
- -3.5%
- Worst 12 Months
- -40.9%
- Efficiency Ratio
- +0.27
- Sharpe
- -0.59
- Stdev Sectors
- +27.1%
- Skewness
- -0.82
- Kurtosis
- +2.67
- Upside Potential
- +0.95
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 38 | $1.3B | 100 | ||
| 2026 Q1 | 20 | $107.5M | 100 | ||
| 2025 Q4 | 44 | — | 100 | ||
| 2025 Q3 | 18 | $89.1M | 100 | ||
| 2025 Q2 | 31 | $80.2M | 0 | ||
| 2025 Q1 | 21 | $39.0M | 100 | ||
| 2024 Q4 | 19 | — | 0 | ||
| 2024 Q3 | 17 | $75.7M | 0 | ||
| 2024 Q2 | 9 | $36.5M | 0 | ||
| 2024 Q1 | 23 | $48.7M | 0 | ||
| 2023 Q4 | 37 | $57.6M | 0 | ||
| 2023 Q3 | 27 | $20.4M | 0 | ||
| 2023 Q2 | 20 | $412.8M | 0 | ||
| 2023 Q1 | 17 | $269.5M | 0 | ||
| 2022 Q4 | 19 | $67.0M | 0 | ||
| 2022 Q3 | 31 | $148.0M | 0 | ||
| 2022 Q2 | 23 | $587.1M | 0 | ||
| 2022 Q1 | 69 | $255.7M | 0 | ||
| 2021 Q4 | 86 | $4.2B | 0 | ||
| 2021 Q3 | 19 | $280.8M | 0 | ||
| 2021 Q2 | 15 | $78.3M | 100 | ||
| 2021 Q1 | 20 | $92.2M | 100 | ||
| 2020 Q4 | 29 | $1.6B | 100 | ||
| 2020 Q3 | 34 | $192.7M | 100 | ||
| 2020 Q2 | 22 | $1.7B | 100 | ||
| 2020 Q1 | 12 | $346.6M | 100 | ||
| 2019 Q4 | 15 | $2.4B | 100 | ||
| 2019 Q3 | 14 | $140.6M | 100 | ||
| 2019 Q2 | 16 | $1.6B | 48 | ||
| 2019 Q1 | 11 | $1.2B | 100 | ||
| 2018 Q4 | 25 | $2.4B | 100 | ||
| 2018 Q3 | 18 | $3.8B | 100 | ||
| 2018 Q2 | 15 | $1.5B | 100 | ||
| 2018 Q1 | 13 | $2.2B | 100 | ||
| 2017 Q4 | 18 | $2.6B | 90 | ||
| 2017 Q3 | 22 | $1.4B | 100 | ||
| 2017 Q2 | 30 | $136.0M | 100 | ||
| 2017 Q1 | 16 | $117.2M | 100 | ||
| 2016 Q4 | 12 | $2.4B | 0 |
Holding changes this quarter
Ursa Fund Management, LLC's most significant position changes for 2026-06-30: New buy: Microsoft CORP (MSFT); New buy: Micron Technology Inc (MU); New buy: Tesla Inc (TSLA); New buy: Amazon.com Inc (AMZN); New buy: Nvidia CORP (NVDA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +32.1% | NEW | New buy |
| 2 | MU | Micron Technology Inc | +22.6% | NEW | New buy |
| 3 | TSLA | Tesla Inc | +19.7% | NEW | New buy |
| 4 | AMZN | Amazon.com Inc | +5.6% | NEW | New buy |
| 5 | NVDA | Nvidia CORP | +3.1% | NEW | New buy |
| 6 | EOSE | Eos Energy Enterprises Inc | +1.3% | NEW | New buy |
| 7 | GAB | Gabelli Equity Trust | +0.5% | +1409.88% | Add |
| 8 | RSP | Invesco S&p 500 Equal Weight | +0.3% | NEW | New buy |
| 9 | OPTU | Optimum Communications Inc-a | +0.3% | NEW | New buy |
| 10 | BSX | Boston Scientific CORP | +0.3% | NEW | New buy |
| 11 | QXO | Qxo Inc | +0.1% | NEW | New buy |
| 12 | SSTK | Shutterstock Inc | 0% | NEW | New buy |
| 13 | RMAX | Re/max Holdings Inc-cl A | 0% | NEW | New buy |
| 14 | PLUG | Plug Power Inc | 0% | NEW | New buy |
| 15 | INM | Inmed Pharmaceuticals Inc | 0% | NEW | New buy |
| 16 | GETY | Getty Images Holdings Inc | 0% | NEW | New buy |
| 17 | CSIQ | Canadian Solar Inc | 0% | NEW | New buy |
| 18 | PSKY | Paramount Skydance Cl B | 0% | NEW | New buy |
| 19 | SPCE | Virgin Galactic Holdings Inc | 0% | NEW | New buy |
| 20 | GAB-R | Gabelli Equity Trust-rt | -0.2% | EXIT | Sold out |
| 21 | HAPN | Happen Inc | -0.3% | EXIT | Sold out |
| 22 | NFBK | Northfield Bancorp Inc | -0.8% | +300.00% | Add |
| 23 | WHLR 9 PERP BBond | Wheeler Reit Inc | -0.9% | +0.63% | Add |
| 24 | PPLI | People Inc | -0.9% | EXIT | Sold out |
| 25 | SGOV | Ishares 0-3 Month Treasury B | -1.4% | EXIT | Sold out |
| 26 | WOLF | Wolfspeed Inc | -1.5% | EXIT | Sold out |
| 27 | IBIT | Ishares Bitcoin Trust ETF | -2.1% | +112.35% | Add |
| 28 | XCAFX | Morgan Stanley China A Share | -2.8% | EXIT | Sold out |
| 29 | WIX | Wix.com Ltd. | -2.9% | EXIT | Sold out |
| 30 | CLBK | Columbia Financial Inc | -4.4% | +346.32% | Add |
| 31 | IWM | Ishares Russell 2000 ETF | -5.8% | +66.67% | Add |
| 32 | KRE | Ss Spdr S&p Regional Bank | -10.2% | +61.60% | Add |
| 33 | SPY | Ss Spdr S&p 500 ETF Trust-us | -25.9% | +50.00% | Add |
| 34 | PEN | Penumbra Inc | -25.9% | EXIT | Sold out |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is Ursa Fund Management, LLC and what type of investor is it?
Ursa Fund Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.3B, spread across 38 disclosed positions.
What are Ursa Fund Management, LLC's largest equity positions?
Based on the latest 13F filing, Ursa Fund Management, LLC's top holdings by market value are:
1. Microsoft CORP (MSFT) — $410.3M (32.1%)
2. Micron Technology Inc (MU) — $288.6M (22.6%)
3. Tesla Inc (TSLA) — $252.4M (19.7%)
4. Amazon.com Inc (AMZN) — $71.5M (5.6%)
5. Ss Spdr S&p 500 ETF Trust-us (SPY) — $56.0M (4.4%)
What changes did Ursa Fund Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Ursa Fund Management, LLC made 34 notable position adjustments: 18 new positions were initiated, 8 existing holdings were added to, 0 positions were partially reduced, and 8 were completely exited. The largest of these moves: New buy: Microsoft CORP (MSFT); New buy: Micron Technology Inc (MU); New buy: Tesla Inc (TSLA); New buy: Amazon.com Inc (AMZN); New buy: Nvidia CORP (NVDA)
What sectors does Ursa Fund Management, LLC focus on?
Ursa Fund Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 69.0%
• Consumer Discretionary: 30.2%
• Communication Services: 0.4%
• Health Care: 0.3%
• Industrials: 0.1%
Investment Profile
Ursa Fund Management, LLC returned an annualized -25.8% over the trailing 27 months — underperforming the S&P 500 by 21.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of -0.02 (less volatile than the market) and a 30% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 69.0% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has added to its IWM position for two straight quarters, increasing it by $15.0M to reach $15.0M.
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