{"url":"https://nivawealth.com/firms/ursa-fund-management-283363","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/283363","regulatoryAum":1198312942,"crd":"283363","history":[{"filedOn":"2021-05-05","regulatoryAum":982574695,"clients":2,"employees":3,"offices":1},{"filedOn":"2022-03-18","regulatoryAum":502388467,"clients":2,"employees":2,"offices":1},{"filedOn":"2023-05-17","regulatoryAum":202658607,"clients":2,"employees":2,"offices":1},{"filedOn":"2024-05-07","regulatoryAum":157116186,"clients":2,"employees":2,"offices":1},{"filedOn":"2025-03-27","regulatoryAum":633586173,"clients":2,"employees":2,"offices":1},{"filedOn":"2026-04-17","regulatoryAum":1198312942,"clients":2,"employees":2,"offices":1}],"secFileNumber":"801-110698","legalName":"Ursa Fund Management LLC","displayName":"Ursa Fund Management","slug":"ursa-fund-management-283363","website":null,"classification":{"segment":"private_funds","segmentLabel":"Private funds","type":"private_fund_manager","typeLabel":null,"feeDisclosure":"payment_only"},"linkedinUrl":"https://www.linkedin.com/company/ursa-fund-management-llc/about/","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"156 Diablo RD, Ste 250","city":"Danville","state":"CA","stateName":"California","country":"United States","postalCode":"94526"},"tradeNames":[],"registration":{"secApproved":"16 June 2017","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":null,"staff":{"employees":2,"advisory":2,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":1198312942,"discretionary":1198312942,"discretionaryAccounts":2,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Pooled investment vehicles","clients":2,"regulatoryAum":1198312942}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[],"custodyNote":"Ursa Fund Management has custody of $157M for 2 clients.","otherCustodians":[],"leadership":[{"name":"Russell Douglas","title":"Managing Member","crd":"5875454"},{"name":"Andrew Hahn","title":"Managing Member, CCO","crd":"5330348"}],"ownership":[{"label":"Andrew Hahn","detail":"Managing member, cco in the 50% to 75% ownership band and a control person, since February 2016."},{"label":"Russell Douglas","detail":"Managing member in the 25% to 50% ownership band and a control person, since February 2016."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"156 Diablo RD, Ste 250","city":"Danville","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"415-529-6040","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["Performance-based fees"],"activities":["Portfolio management for pooled investment vehicles (other than investment companies)"],"financialPlanningClients":null,"assetMix":[],"privateFunds":1},"sources":{"adv1FilingDate":"17 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/283363/PDF/283363.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Ursa Fund Management have?","answer":"Ursa Fund Management has 2 clients and manages $1.2 billion for them, as of April 2026. They include 2 pooled investment vehicles.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 17 April 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Ursa Fund Management offer?","answer":"Ursa Fund Management provides portfolio management for pooled vehicles.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does Ursa Fund Management have?","answer":"Ursa Fund Management has 0 investment adviser representatives registered with state securities authorities, out of 2 employees, and 2 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Ursa Fund Management?","answer":"Ursa Fund Management’s direct owners are Andrew Hahn (50% to 75%) and Russell Douglas (25% to 50%).","source":"Form ADV Part 1A, Schedules A and B, filed 17 April 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Ursa Fund Management get paid?","answer":"Ursa Fund Management is paid through performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Ursa Fund Management?","answer":"Ursa Fund Management’s main office is at 156 Diablo RD, Ste 250, Danville, CA 94526. Its phone number is 415-529-6040.","source":"Form ADV Part 1A, Item 1.F, filed 17 April 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/ursa-fund-management-283363/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1693838/000169383826000004/0001693838-26-000004-index.html","totalValue":1279228373,"positionCount":38,"top10Share":0.8678721348217,"top10":[{"issuer":"MICROSOFT CORP","titleOfClass":"COM","cusip":"594918104","value":205161000,"shares":550000,"shareType":"SH"},{"issuer":"MICROSOFT CORP","titleOfClass":"COM","cusip":"594918104","value":205161000,"shares":550000,"shareType":"SH","putCall":"Put"},{"issuer":"MICRON TECHNOLOGY INC","titleOfClass":"COM","cusip":"595112103","value":144286250,"shares":125000,"shareType":"SH"},{"issuer":"MICRON TECHNOLOGY 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Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}