Masters Capital Management
ATLANTA, GAfiles as MASTERS CAPITAL MANAGEMENT LLC
$711m in 42 US stocks at the end of 30 June 2026. The top 10 are 57.0% of the money. It changed about 22.6% of the portfolio this quarter.
Value
$711m
Stocks
42
Top 10 share
57.0%
Turnover
22.6%
What changed this quarter
New
Bought for the first time this quarter.
- TerexTEX2.0% of the fund
- CelaneseCE1.9% of the fund
- Boston ScientificBSX1.5% of the fund
- Almonty IndustriesALM1.4% of the fund
- SLB LimitedSLB1.3% of the fund
- Eos Energy EnterprisesEOSE1.0% of the fund
- Wheels Up ExperienceUP0.4% of the fund
Added
Bought more of a stock they already held.
- FluorFLR7.4% of the fund+8%
- NOVNOV5.7% of the fund+10%
- NCR VoyixVYX4.6% of the fund+14%
- Eastman ChemicalEMN3.8% of the fund+100%
- Hormel FoodsHRL3.5% of the fund+18%
- BETA TechnologiesBETA2.4% of the fund+47%
- TelosTLS1.4% of the fund+5%
- Vertical AerospaceEVTL1.0% of the fund+21%
- Senseonics HoldingsSENS0.6% of the fund+40%
Cut
Sold some of their stake.
- United Parcel ServiceUPS4.5% of the fund-40%
- Flotek IndustriesFTK3.3% of the fund-8%
- BrainswayBWAY3.3% of the fund-9%
- TheRealRealREAL2.5% of the fund-25%
- DauchDCH2.3% of the fund-14%
- Mohawk IndustriesMHK1.7% of the fund-80%
- IsoEnergyISOU0.8% of the fund-14%
- Denali TherapeuticsDNLI0.7% of the fund-67%
Sold out
Sold their entire stake.
- NokiaNOK-100%
- HuntsmanHUN-100%
- Cleveland-CliffsCLF-100%
- FastlyFSLY-100%
- LyftLYFT-100%
- IamgoldIAG-100%
- Wheels UP Experience-100%
- Mobileye GlobalMBLY-100%
- New Fortress EnergyNFE-100%
Holdings
- BrainswayBWAY
- Share
- 3.3%
- Value
- $23m
- Shares
- 1,500,000
-9%
- Almonty IndustriesALM
- Share
- 1.4%
- Value
- $10m
- Shares
- 600,000
New
- NexGen EnergyNXE
- Share
- 1.3%
- Value
- $9m
- Shares
- 1,000,000
Held
- Pony AIPONY
- Share
- 0.9%
- Value
- $7m
- Shares
- 950,000
Held
- IsoEnergyISOU
- Share
- 0.8%
- Value
- $6m
- Shares
- 600,000
-14%
- Integra ResourcesITRG
- Share
- 0.3%
- Value
- $2m
- Shares
- 1,000,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Delta Air LinesDAL | 13.2% | $94m | 1,000,000 | Held |
| FluorFLR | 7.4% | $52m | 1,000,000 | +8% |
| AST SpaceMobileASTS | 6.2% | $44m | 500,000 | Held |
| NOVNOV | 5.7% | $41m | 2,200,000 | +10% |
| NCR VoyixVYX | 4.6% | $33m | 4,000,000 | +14% |
| United Parcel ServiceUPS | 4.5% | $32m | 300,000 | -40% |
| Lionsgate StudiosLION | 4.3% | $31m | 1,994,814 | Held |
| BarclaysBCS | 3.8% | $27m | 1,000,000 | Held |
| Eastman ChemicalEMN | 3.8% | $27m | 400,000 | +100% |
| Hormel FoodsHRL | 3.5% | $25m | 1,000,000 | +18% |
| Flotek IndustriesFTK | 3.3% | $24m | 1,000,000 | -8% |
| BrainswayBWAY | 3.3% | $23m | 1,500,000 | -9% |
| TheRealRealREAL | 2.5% | $18m | 1,500,000 | -25% |
| BETA TechnologiesBETA | 2.4% | $17m | 1,028,200 | +47% |
| DauchDCH | 2.3% | $16m | 3,000,000 | -14% |
| TerexTEX | 2.0% | $14m | 200,000 | New |
| CelaneseCE | 1.9% | $14m | 300,000 | New |
| VeradermicsMANE | 1.7% | $12m | 100,000 | Held |
| EnovixENVX | 1.7% | $12m | 2,000,000 | Held |
| Mohawk IndustriesMHK | 1.7% | $12m | 100,000 | -80% |
| Boston ScientificBSX | 1.5% | $11m | 250,000 | New |
| Almonty IndustriesALM | 1.4% | $10m | 600,000 | New |
| TransoceanRIG | 1.4% | $10m | 2,000,000 | Held |
| TelosTLS | 1.4% | $10m | 2,100,000 | +5% |
| NexGen EnergyNXE | 1.3% | $9m | 1,000,000 | Held |
| SLB LimitedSLB | 1.3% | $9m | 200,000 | New |
| Angel Oak Mortgage REITAOMR | 1.3% | $9m | 1,000,000 | Held |
| Borr DrillingBORR | 1.2% | $8m | 2,000,000 | Held |
| Vertical AerospaceEVTL | 1.0% | $7m | 4,100,000 | +21% |
| Eos Energy EnterprisesEOSE | 1.0% | $7m | 1,200,000 | New |
| SunrunRUN | 0.9% | $7m | 500,000 | Held |
| Pony AIPONY | 0.9% | $7m | 950,000 | Held |
| FerroglobeGSM | 0.9% | $6m | 2,000,000 | Held |
| IsoEnergyISOU | 0.8% | $6m | 600,000 | -14% |
| Denali TherapeuticsDNLI | 0.7% | $5m | 200,000 | -67% |
| Eve HoldingEVEX | 0.7% | $5m | 2,000,000 | Held |
| Lucid DiagnosticsLUCD | 0.6% | $4m | 4,000,000 | Held |
| Senseonics HoldingsSENS | 0.6% | $4m | 700,000 | +40% |
| Plug PowerPLUG | 0.4% | $3m | 1,000,000 | Held |
| Wheels Up ExperienceUP | 0.4% | $3m | 300,000 | New |
| Integra ResourcesITRG | 0.3% | $2m | 1,000,000 | Held |
| NeuroneticsSTIM | 0.2% | $1m | 1,000,000 | Held |
Options (38)
- State STR Spdr S&P 500 ETF TSPY
- Type
- Put
- Value
- $747m
- Contracts
- 1,000,000
- BoeingBA
- Type
- Call
- Value
- $216m
- Contracts
- 1,000,000
- Alibaba Group HldgBABA
- Type
- Call
- Value
- $192m
- Contracts
- 2,000,000
- NewmontNEM
- Type
- Call
- Value
- $187m
- Contracts
- 2,000,000
- AccentureACN
- Type
- Call
- Value
- $162m
- Contracts
- 1,300,000
- General MotorsGM
- Type
- Call
- Value
- $154m
- Contracts
- 2,000,000
- CitigroupC
- Type
- Call
- Value
- $140m
- Contracts
- 1,000,000
- IntelINTC
- Type
- Call
- Value
- $140m
- Contracts
- 1,000,000
- United Parcel ServiceUPS
- Type
- Call
- Value
- $108m
- Contracts
- 1,000,000
- AlcoaAA
- Type
- Call
- Value
- $104m
- Contracts
- 2,000,000
- CloroxCLX
- Type
- Call
- Value
- $95m
- Contracts
- 1,000,000
- SLB LimitedSLB
- Type
- Call
- Value
- $93m
- Contracts
- 2,000,000
- Ishares TRTLT
- Type
- Call
- Value
- $86m
- Contracts
- 1,000,000
- Uber TechnologiesUBER
- Type
- Call
- Value
- $72m
- Contracts
- 1,000,000
- Eastman ChemicalEMN
- Type
- Call
- Value
- $67m
- Contracts
- 1,000,000
- Freeport-McMoRanFCX
- Type
- Call
- Value
- $63m
- Contracts
- 1,000,000
- Bristol-Myers SquibbBMY
- Type
- Call
- Value
- $58m
- Contracts
- 1,000,000
- FluorFLR
- Type
- Call
- Value
- $52m
- Contracts
- 1,000,000
- CVS HealthCVS
- Type
- Call
- Value
- $52m
- Contracts
- 500,000
- ServiceNowNOW
- Type
- Call
- Value
- $50m
- Contracts
- 500,000
- Delta Air LinesDAL
- Type
- Put
- Value
- $47m
- Contracts
- 500,000
- IonQIONQ
- Type
- Call
- Value
- $43m
- Contracts
- 800,000
- Antero ResourcesAR
- Type
- Call
- Value
- $35m
- Contracts
- 1,000,000
- Mobileye GlobalMBLY
- Type
- Call
- Value
- $29m
- Contracts
- 3,000,000
- Cleveland-CliffsCLF
- Type
- Call
- Value
- $28m
- Contracts
- 3,000,000
- Bath & Body WorksBBWI
- Type
- Call
- Value
- $23m
- Contracts
- 1,000,000
- YPF Sociedad AnonimaYPF
- Type
- Call
- Value
- $23m
- Contracts
- 500,000
- International PaperIP
- Type
- Call
- Value
- $19m
- Contracts
- 500,000
- OndasONDS
- Type
- Call
- Value
- $16m
- Contracts
- 2,000,000
- Rocket CompaniesRKT
- Type
- Call
- Value
- $16m
- Contracts
- 1,000,000
- CelaneseCE
- Type
- Put
- Value
- $14m
- Contracts
- 300,000
- SunrunRUN
- Type
- Call
- Value
- $13m
- Contracts
- 1,000,000
- Nu HoldingsNU
- Type
- Call
- Value
- $13m
- Contracts
- 1,000,000
- WayfairW
- Type
- Call
- Value
- $9m
- Contracts
- 100,000
- Pony AIPONY
- Type
- Call
- Value
- $7m
- Contracts
- 1,000,000
- EnovixENVX
- Type
- Call
- Value
- $6m
- Contracts
- 1,000,000
- TransoceanRIG
- Type
- Call
- Value
- $5m
- Contracts
- 1,000,000
- NCR VoyixVYX
- Type
- Call
- Value
- $1m
- Contracts
- 150,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| State STR Spdr S&P 500 ETF TSPY | Put | $747m | 1,000,000 |
| BoeingBA | Call | $216m | 1,000,000 |
| Alibaba Group HldgBABA | Call | $192m | 2,000,000 |
| NewmontNEM | Call | $187m | 2,000,000 |
| AccentureACN | Call | $162m | 1,300,000 |
| General MotorsGM | Call | $154m | 2,000,000 |
| CitigroupC | Call | $140m | 1,000,000 |
| IntelINTC | Call | $140m | 1,000,000 |
| United Parcel ServiceUPS | Call | $108m | 1,000,000 |
| AlcoaAA | Call | $104m | 2,000,000 |
| CloroxCLX | Call | $95m | 1,000,000 |
| SLB LimitedSLB | Call | $93m | 2,000,000 |
| Ishares TRTLT | Call | $86m | 1,000,000 |
| Uber TechnologiesUBER | Call | $72m | 1,000,000 |
| Eastman ChemicalEMN | Call | $67m | 1,000,000 |
| Freeport-McMoRanFCX | Call | $63m | 1,000,000 |
| Bristol-Myers SquibbBMY | Call | $58m | 1,000,000 |
| FluorFLR | Call | $52m | 1,000,000 |
| CVS HealthCVS | Call | $52m | 500,000 |
| ServiceNowNOW | Call | $50m | 500,000 |
| Delta Air LinesDAL | Put | $47m | 500,000 |
| IonQIONQ | Call | $43m | 800,000 |
| Antero ResourcesAR | Call | $35m | 1,000,000 |
| Mobileye GlobalMBLY | Call | $29m | 3,000,000 |
| Cleveland-CliffsCLF | Call | $28m | 3,000,000 |
| Bath & Body WorksBBWI | Call | $23m | 1,000,000 |
| YPF Sociedad AnonimaYPF | Call | $23m | 500,000 |
| International PaperIP | Call | $19m | 500,000 |
| OndasONDS | Call | $16m | 2,000,000 |
| Rocket CompaniesRKT | Call | $16m | 1,000,000 |
| CelaneseCE | Put | $14m | 300,000 |
| SunrunRUN | Call | $13m | 1,000,000 |
| Nu HoldingsNU | Call | $13m | 1,000,000 |
| WayfairW | Call | $9m | 100,000 |
| Pony AIPONY | Call | $7m | 1,000,000 |
| EnovixENVX | Call | $6m | 1,000,000 |
| TransoceanRIG | Call | $5m | 1,000,000 |
| NCR VoyixVYX | Call | $1m | 150,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 37.0% since 30 June 2025.
Where the money is
Industrials33.1%
Materials13.8%
Media & telecom10.5%
Energy9.6%
Technology9.0%
Retail & consumer6.5%
Health care4.7%
Financial services3.8%
Everyday goods3.5%
Real estate1.3%
Other4.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.