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MASTERS CAPITAL MANAGEMENT LLC

Q2 2025 · Filed 2025-08-14
Market Value
$486M
+5.5%
Holdings
45
+2
New Purchases
9
Added To
7
Closed
11
Reduced
8
Top 10 Concentration
58.0%
Turnover
44.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FLR 10.55% 7.78% +2.78% $51M
SMG 2.72% 0.00% +2.72% $13M
NCR 4.59% 2.12% +2.47% $22M
BMY 2.38% 0.00% +2.38% $12M
PPG 2.34% 0.00% +2.34% $11M
ASTS 4.81% 2.96% +1.85% $23M
NOV 5.12% 3.30% +1.81% $25M
DNLI 1.73% 0.00% +1.73% $8M
ENVX 4.26% 2.71% +1.55% $21M
UPS 6.23% 4.77% +1.46% $30M
ETOR 1.37% 0.00% +1.37% $7M
EVEX 2.82% 1.48% +1.35% $14M
NXE 2.86% 1.95% +0.91% $14M
PONY 2.72% 1.91% +0.80% $13M
GPRE 1.24% 0.53% +0.71% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AA 0.00% 6.62% -6.62% $0
MIR 0.00% 3.15% -3.15% $0
W 0.00% 2.78% -2.78% $0
LGF-B 0.00% 2.58% -2.58% $0
VALE 0.00% 2.10% -2.10% $0
MBLY 0.00% 1.56% -1.56% $0
RIG 0.00% 1.38% -1.38% $0
CLF 3.13% 4.46% -1.33% $15M
VFC 2.42% 3.71% -1.29% $12M
BCS 3.83% 5.00% -1.17% $19M
GOGO 0.00% 0.94% -0.94% $0
FCX 0.00% 0.82% -0.82% $0
LION 0.00% 0.81% -0.81% $0
PBR 2.57% 3.11% -0.54% $13M
NVTS 0.00% 0.44% -0.44% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $22M 4.6%
Large Cap 11 $160M 32.8%
Mid Cap 21 $214M 44.0%
Small Cap 9 $74M 15.2%
Micro Cap 3 $16M 3.3%

Portfolio Analytics

Avg Market Cap
$32.6B
Median Market Cap
$5.8B
Avg P/E
41.1
Median P/E
21.2
Avg Dividend Yield
0.01%
Avg Beta
1.40
# Stocks
45
# ETFs / Funds
0

Top Holdings (45 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 FLR 10.55% 1,000,000 $51M $51.27 $15M
2 DAL 10.12% 1,000,000 $49M $49.18 $2M -91,628 -8.4%
3 UPS 6.23% 300,000 $30M $100.94 $8M +100,000 +50.0%
4 NOV 5.12% 2,000,000 $25M $12.43 $10M +1,000,000 +100.0%
5 ASTS 4.81% 500,000 $23M $46.73 $10M -100,000 -16.7%
6 INTC 4.61% 1,000,000 $22M $22.40 -$310K
7 NCR 4.59% 1,900,000 $22M $11.73 $13M +900,000 +90.0%
8 ENVX 4.26% 2,000,000 $21M $10.34 $8M +300,000 +17.6%
9 EMN 3.84% 250,000 $19M $74.66 $1M +50,000 +25.0%
10 BCS 3.83% 1,000,000 $19M $18.59 -$4M -500,000 -33.3%
11 CLF 3.13% 2,000,000 $15M $7.60 -$5M -500,000 -20.0%
12 NXE 2.86% 2,000,000 $14M $6.94 $5M
13 EVEX 2.82% 2,000,000 $14M $6.86 $7M -50,000 -2.4%
14 PONY 2.72% 1,000,000 $13M $13.20 $4M
15 SMG 2.72% 200,000 $13M $65.96 +200,000 NEW
16 BWAY 2.71% 1,000,000 $13M $13.15 $4M
17 PBR 2.57% 1,000,000 $13M $12.51 -$2M
18 VFC 2.42% 1,000,000 $12M $11.75 -$5M -100,000 -9.1%
19 BMY 2.38% 250,000 $12M $46.29 +250,000 NEW
20 PPG 2.34% 100,000 $11M $113.75 +100,000 NEW
21 ACHR 2.23% 1,000,000 $11M $10.85 $4M
22 AOMR 1.94% 1,000,000 $9M $9.42 -$1M -100,000 -9.1%
23 DNLI 1.73% 600,000 $8M $13.99 +600,000 NEW
24 GSM 1.51% 2,000,000 $7M $3.67 -$80K
25 TTI 1.38% 2,000,000 $7M $3.36 $336K +100,000 +5.3%
26 ETOR 1.37% 100,000 $7M $66.59 +100,000 NEW
27 TLS 1.30% 2,000,000 $6M $3.17 -$86K -700,000 -25.9%
28 GPRE 1.24% 1,000,000 $6M $6.03 $4M +500,000 +100.0%
29 STIM 0.72% 1,000,000 $3M $3.49 -$190K
30 LUCD 0.65% 2,727,273 $3M $1.15 -$927K
31 DOW 0.55% 100,000 $3M $26.48 +100,000 NEW
32 SRRK 0.36% 50,000 $2M $35.42 +50,000 NEW
33 PLUG 0.31% 1,000,000 $1M $1.49 +1,000,000 NEW
34 NG 0.08% 100,000 $409K $4.09 +100,000 NEW
35 LION —% -$4M -500,000 -100.0% SOLD
36 LGF-B —% -$12M -1,500,000 -100.0% SOLD
37 GOGO —% -$4M -500,000 -100.0% SOLD
38 NVTS —% -$2M -1,000,000 -100.0% SOLD
39 MBLY —% -$7M -500,000 -100.0% SOLD
40 RIG —% -$6M -2,000,000 -100.0% SOLD
41 MIR —% -$14M -1,000,000 -100.0% SOLD
42 AA —% -$30M -1,000,000 -100.0% SOLD
43 W —% -$13M -400,000 -100.0% SOLD
44 FCX —% -$4M -100,000 -100.0% SOLD
45 VALE —% -$10M -970,000 -100.0% SOLD

Options Breakdown

39 Calls $1.3B Call Value 4 Puts $740M Put Value 0.57 P/C Ratio

Top Calls

SymbolSharesValueStatus
C 2,100,000 $179M
TLT 1,000,000 $88M
FCX 2,000,000 $87M
UAL 1,000,000 $80M NEW
SLB 2,000,000 $68M
GDXJ 1,000,000 $68M NEW
INTC 3,000,000 $67M
EMN 900,000 $67M
MU 500,000 $62M
BAX 2,000,000 $61M

Top Puts

SymbolSharesValueStatus
SPY 1,000,000 $618M NEW
WMT 1,000,000 $98M
DAL 500,000 $25M NEW
UBER $0 SOLD

New Positions

SymbolValue% Port
SMG $13M 2.72%
BMY $12M 2.38%
PPG $11M 2.34%
DNLI $8M 1.73%
ETOR $7M 1.37%
DOW $3M 0.55%
SRRK $2M 0.36%
PLUG $1M 0.31%
NG $409K 0.08%

Sold Out Positions

SymbolValue% Port
AA —%
W —%
LION —%
VALE —%
MIR —%
RIG —%
MBLY —%
GOGO —%
FCX —%
NVTS —%
LGF-B —%
View SEC EDGAR Filings for MASTERS CAPITAL MANAGEMENT LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms