Form D · Hedge Fund

Universa Black Swan Protection Protocol XXIII L.P.

Miami, FL · CIK 0001652623

Offering snapshot reported Jul 14, 2026 · SEC filing

Reported sold: $27.9M
Investors reported: 1
Minimum accepted: $1M
First sale: Dec 14, 2016

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$24,125,000 → $27,875,000

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Jul 14, 2026	Amendment	$27,875,000	$3,750,000vs Jul 15, 2025	1	SEC filing
Jul 15, 2025	Amendment	$24,125,000	$2,500,000vs Jul 17, 2024	1	SEC filing
Jul 17, 2024	Amendment	$21,625,000	$4,000,000vs Jul 21, 2023	1	SEC filing
Jul 21, 2023	Amendment	$17,625,000	$6,000,000vs Jul 27, 2022	1	SEC filing
Jul 27, 2022	Amendment	$11,625,000	$2,825,000vs Jul 28, 2021	1	SEC filing
Jul 28, 2021	Amendment	$8,800,000	No comparison	Not reported	SEC filing
Aug 4, 2020	Amendment	$8,800,000	$2,600,000vs Aug 6, 2019	1	SEC filing
Aug 6, 2019	Amendment	$6,200,000	$1,200,000vs Aug 14, 2018	1	SEC filing
Aug 14, 2018	Amendment	$5,000,000	$0vs Aug 29, 2017	1	SEC filing
Aug 29, 2017	Amendment	$5,000,000	No comparison	1	SEC filing
Sep 7, 2016	Amendment	Yet to sell	No comparison	0	SEC filing
Sep 10, 2015	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Equity, Pooled investment fund, Other
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-247348

Limited Partner Interests

Source: Form D, filed Jul 14, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

UNIVERSA BLACK SWAN PROTECTION PROTOCOL XXIII LP

Investment adviser: UNIVERSA INVESTMENTS L.P.

Gross asset value: $300M
Beneficial owners: 1
ADV minimum commitment: $150M

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator STONE COAST FUND SERVICES PORTLAND, Maine, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP LOS ANGELES, California, United States

Custodian BOFA SECURITIES, INC. NEW YORK, New York, United States Related to adviser: No

Custodian THE NORTHERN TRUST INTERNATIONAL BANKING CORPORATION JERSEY CITY, New Jersey, United States Related to adviser: No

Prime broker BOFA SECURITIES, INC. NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

BOFA SECURITIES, INC.
SEC 8-69787

BOFA SECURITIES, INC.
CRD 283942 · SEC 8-69787

Filing source

Form ADV 2079495 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-5226882815

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Eric Spencer	Executive
Mark W. Spitznagel	Executive
N/A Universa Black Swan Gp Xxiii Llc	Executive
Universa Safe Haven Delaware Gp 3 Llc	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

2601 South Bayshore Drive, Suite 2030
Miami, FL, 33133