Ursa Fund Management, LLC holds a concentrated book of 11 stocks worth $32.7M as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Penumbra Inc and trimmed Iac Inc. Their largest long position is Penumbra Inc at 35% of the equity book. They also disclosed $66.4M in put options (a bearish bet) and $8.4M in call options (bullish), shown separately below and excluded from the equity book.
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Use Arkolith to show Ursa Fund Management, LLC's latest holdings, largest changes, and filing provenance.
Top-heavy: concentrated book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
78% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Penumbra Inc COM | $11.5M | 35.0K | 35.2% | ▲New New position | |
| 2 | Columbia Finl Inc COM | $8.8M | 500.0K | 26.8% | ▲New New position | |
| 3 | Ishares Bitcoin Trust ETF SHS BEN INT | $2.6M | 68.0K | 8.0% | ▲+19% Added · +11K sh | |
| 4 | Gabelli Equity TR Inc COM | $2.1M | 367.9K | 6.3% | ▲New New position | |
| 5 | Ishares TR 0-3 MNTH TREASRY | $1.5M | 15.0K | 4.6% | ▲New New position | |
| 6 | Northfield Bancorp Inc Del COM | $1.4M | 100.0K | 4.1% | ▲New New position | |
| 7 | Wix Com Ltd SHS | $1.4M | 15.0K | 4.1% | ▲New New position | |
| 8 | Morgan Stanley China A SH FD COM | $1.2M | 70.1K | 3.8% | ▲New New position | |
| 9 | Wheeler Real Estate Invt TR CV PFD SER B | $1.1M | 160.0K | 3.4% | ▲+7.7% Added · +11K sh | |
| 10 | Iac Inc COM NEW | $1.0M | 25.0K | 3.1% | ▼−67% Reduced · −50K sh | |
| 11 | Gabelli Equity TR Inc RIGHT 04/14/2026 | $210K | 29.99M | 0.6% | ▲New New position |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| PUT · bearish | SS SPDR S&P 500 ETF TRUST-USSPY | $32.5M | 50K |
| PUT · bearish | PENUMBRA INCPEN | $16.4M | 50K |
| PUT · bearish | ISHARES RUSSELL 2000 ETFIWM | $7.4M | 30K |
| CALL · bullish | SS SPDR S&P REGIONAL BANKKRE | $6.5M | 100K |
| PUT · bearish | SS SPDR S&P REGIONAL BANKKRE | $6.5M | 100K |
| PUT · bearish | WIX.COM LTDWIX | $1.8M | 20K |
| PUT · bearish | MORGAN STANLEY CHINA A SHAREXCAFX | $1.8M | 60K |
| CALL · bullish | WOLFSPEED INCWOLF | $1.6M | 100K |
| CALL · bullish | LENDINGCLUB CORPLC | $286K | 20K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.