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Ursa Fund Management, LLC

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13F filer, CIK 1693838, Danville, CA

Ursa Fund Management, LLC reported $39,026,126 across 21 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 97.22% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001879202-25-000024

Period
2025-03-31
Reported value
$39M
Holdings
21
Top 10 weight
97.22%
New
15
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABnew+200,000$7.66M
IBITnew+35,500$1.66M
EQCadded+811,822$1.31M
FBTCnew+18,000$1.3M
SGOVnew+6,000$604K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MSFTexited-1,008,500-$425M
AAPLexited-229,900-$57.6M
MSTRexited-169,100-$49M
EDRexited-300,000-$9.39M
WHEELER REAL ESTATE INVT TRexited-200,000-$611K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001879202-25-000024, largest first. % of portfolio is the value over $28,272,257, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
EQCEQUITY COMMONWEALTHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,213,178 shares; 2025Q1: 7,025,000 shares 7,025,000$11.3M40%+811,822Timeline
ABALLIANCEBERNSTEIN HLDG L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares 200,000$7.66M27.1%newTimeline
LIONS GATE ENTMNT CORPLIONS GATE ENTMNT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,500 shares; 2024Q4: 358,540 shares; 2025Q1: 313,336 shares 313,336$2.77M9.81%-45,204
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 35,500 shares 35,500$1.66M5.88%newTimeline
FBTCFIDELITY WISE ORIGIN BITCOINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 18,000 shares 18,000$1.3M4.58%newTimeline
PPLIPEOPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: 24,000 shares 24,000$1.1M3.9%+9,000Timeline
SGOVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 177,300 shares; 2024Q4: not reported; 2025Q1: 6,000 shares 6,000$604K2.14%newTimeline
Checkpoint Therapeutics IncCheckpoint Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares 100,000$404K1.43%new
CRFCORNERSTONE TOTAL RETURN FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,000 shares 50,000$359K1.27%newTimeline
PARAMOUNT GLOBALPARAMOUNT GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 26,200 shares 26,200$313K1.11%new
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 30,000 shares 30,000$217K0.77%newTimeline
BEBLOOM ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: 10,000 shares 10,000$197K0.7%-5,000Timeline
CLMCORNERSTONE STRATEGIC INVESTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,000 shares 25,000$186K0.66%newTimeline
SNAPSNAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,000 shares; 2025Q1: 15,000 shares 15,000$131K0.46%+5,000Timeline
MSP RECOVERY INCMSP RECOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,008,134 shares; 2024Q4: 18,878,649 shares; 2025Q1: 18,878,649 shares 18,878,649$56.6K0.2%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
DMDESKTOP METAL INC CLASS A COM COMMON STOCKcall920,900$4.57Mnew
PARAMOUNT GLOBALPARAMOUNT GLOBAL CLASS B COMcall150,000$1.79Mnew
IBITISHARES BITCOIN TRUST ETF SHSput37,500$1.76Mnew
FBTCFIDELITY WISE ORIGIN BITCOIN SHSput18,000$1.3Mnew
PARAMOUNT GLOBALPARAMOUNT GLOBAL CLASS B COMput89,000$1.06Mnew
WALGREENS BOOTS ALLIANCE INCWALGREENS BOOTS ALLIANCE INC COMcall181,000$277Knew

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MSFTMICROSOFT CORP1,068,500$450Mput
MSFTMICROSOFT CORP1,008,500$425Mshares
MSTRSTRATEGY INC473,300$137Mput
MSTRSTRATEGY INC304,200$88.1Mcall
AAPLAPPLE INC230,000$57.6Mput
AAPLAPPLE INC229,900$57.6Mshares
MSTRSTRATEGY INC169,100$49Mshares
MSFTMICROSOFT CORP60,000$25.3Mcall
EDRENDEAVOR GROUP HLDGS INC425,000$13.3Mput
EDRENDEAVOR GROUP HLDGS INC300,000$9.39Mshares
SRGSERITAGE GROWTH PPTYS484,700$2Mcall
WHEELER REAL ESTATE INVT TRWHEELER REAL ESTATE INVT TR200,000$611Kshares
SILVERCREST METALS INCSILVERCREST METALS INC50,000$455Kcall

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001879202-25-000024 base2025-05-15acceptance time not in the bulk data set