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Asset Manager ← All Institutions

MASTERS CAPITAL MANAGEMENT LLC

Q4 2025 · Filed 2026-02-17
Market Value
$661M
+13.6%
Holdings
44
-1
New Purchases
6
Added To
13
Closed
6
Reduced
4
Top 10 Concentration
54.6%
Turnover
27.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MHK 6.61% 2.22% +4.40% $44M
HON 2.95% 0.00% +2.95% $20M
REAL 4.77% 1.83% +2.95% $32M
NOK 1.96% 0.00% +1.96% $13M
AXL 2.91% 1.24% +1.67% $19M
EVTL 1.61% 0.00% +1.61% $11M
HUN 1.51% 0.00% +1.51% $10M
ASTS 5.49% 4.22% +1.28% $36M
BMY 2.45% 1.55% +0.90% $16M
DAL 10.50% 9.75% +0.75% $69M
CELH 0.69% 0.00% +0.69% $5M
DNLI 2.50% 1.87% +0.63% $17M
CE 1.28% 0.72% +0.56% $8M
DOW 2.48% 1.97% +0.51% $16M
BCS 3.85% 3.55% +0.30% $25M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ADM 0.00% 3.08% -3.08% $0
EMN 2.90% 5.42% -2.52% $19M
VFC 0.00% 2.48% -2.48% $0
CLF 2.01% 4.19% -2.18% $13M
PBR 0.00% 2.18% -2.18% $0
VALE 0.00% 1.87% -1.87% $0
CRC 0.00% 1.83% -1.83% $0
PONY 2.63% 3.86% -1.23% $17M
ENVX 2.21% 3.43% -1.21% $15M
DQ 0.00% 0.97% -0.97% $0
TLS 1.62% 2.35% -0.73% $11M
EVEX 1.27% 2.00% -0.73% $8M
FLR 6.59% 7.23% -0.63% $44M
ACHR 1.14% 1.65% -0.51% $8M
AOMR 1.30% 1.61% -0.31% $9M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $226M 34.2%
Mid Cap 19 $317M 47.9%
Small Cap 8 $91M 13.8%
Micro Cap 6 $28M 4.2%

Portfolio Analytics

Avg Market Cap
$22.3B
Median Market Cap
$5.2B
Avg P/E
30.0
Median P/E
21.4
Avg Dividend Yield
0.02%
Avg Beta
1.26
# Stocks
44
# ETFs / Funds
0

Top Holdings (44 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 DAL 10.50% 1,000,000 $69M $69.40 $13M
2 MHK 6.61% 400,000 $44M $109.30 $31M +300,000 +300.0%
3 FLR 6.59% 1,100,000 $44M $39.63 $2M +100,000 +10.0%
4 ASTS 5.49% 500,000 $36M $72.63 $12M
5 REAL 4.77% 2,000,000 $32M $15.78 $21M +1,000,000 +100.0%
6 NOV 4.73% 2,000,000 $31M $15.63 $5M
7 NCR 4.63% 3,000,000 $31M $10.20 $4M +900,000 +42.9%
8 UPS 4.50% 300,000 $30M $99.19 $5M
9 BCS 3.85% 1,000,000 $25M $25.45 $5M
10 HON 2.95% 100,000 $20M $195.09 +100,000 NEW
11 AXL 2.91% 3,000,000 $19M $6.41 $12M +1,800,000 +150.0%
12 EMN 2.90% 300,000 $19M $63.83 -$12M -200,000 -40.0%
13 BWAY 2.88% 1,000,000 $19M $19.02 $4M
14 NXE 2.78% 2,000,000 $18M $9.20 $500K
15 PONY 2.63% 1,200,000 $17M $14.50 -$5M +200,000 +20.0%
16 DNLI 2.50% 1,000,000 $17M $16.51 $6M +250,000 +33.3%
17 DOW 2.48% 700,000 $16M $23.38 $5M +200,000 +40.0%
18 BMY 2.45% 300,000 $16M $53.94 $7M +100,000 +50.0%
19 ENVX 2.21% 2,000,000 $15M $7.31 -$5M
20 OLN 2.21% 700,000 $15M $20.83 $836K +150,000 +27.3%
21 CLF 2.01% 1,000,000 $13M $13.28 -$11M -1,000,000 -50.0%
22 NOK 1.96% 2,000,000 $13M $6.47 +2,000,000 NEW
23 TLS 1.62% 2,100,000 $11M $5.10 -$3M +100,000 +5.0%
24 EVTL 1.61% 2,000,000 $11M $5.33 +2,000,000 NEW
25 HUN 1.51% 1,000,000 $10M $10.00 +1,000,000 NEW
26 GPRE 1.48% 1,000,000 $10M $9.80 $1M
27 GSM 1.40% 2,000,000 $9M $4.64 $180K
28 AOMR 1.30% 1,000,000 $9M $8.61 -$760K
29 CE 1.28% 200,000 $8M $42.28 $4M +100,000 +100.0%
30 EVEX 1.27% 2,100,000 $8M $3.99 -$3M -950,000 -31.1%
31 ACHR 1.14% 999,600 $8M $7.52 -$2M -100 -0.0%
32 CELH 0.69% 100,000 $5M $45.74 +100,000 NEW
33 LUCD 0.66% 4,000,000 $4M $1.09 $321K +727 +0.0%
34 RIG 0.62% 1,000,000 $4M $4.13 $1M
35 PLUG 0.30% 1,000,000 $2M $1.97 -$360K
36 STIM 0.21% 1,000,000 $1M $1.38 -$1M
37 SENS 0.21% 249,998 $1M $5.52 +249,998 NEW
38 NFE 0.17% 1,000,000 $1M $1.14 -$1M
39 DQ —% -$6M -200,000 -100.0% SOLD
40 CRC —% -$11M -200,000 -100.0% SOLD
41 VFC —% -$14M -1,000,000 -100.0% SOLD
42 VALE —% -$11M -1,000,000 -100.0% SOLD
43 PBR —% -$13M -1,000,000 -100.0% SOLD
44 ADM —% -$18M -300,000 -100.0% SOLD

Options Breakdown

46 Calls $1.7B Call Value 2 Puts $0 Put Value 0.0 P/C Ratio

Top Calls

SymbolSharesValueStatus
UPS 2,000,000 $198M
GM 2,000,000 $163M
BABA 1,000,000 $147M
BA 500,000 $109M NEW
HON 500,000 $98M NEW
C 700,000 $82M
MET 1,000,000 $79M NEW
SLB 2,000,000 $77M
INTC 2,000,000 $74M
DAL 1,000,000 $69M

Top Puts

SymbolSharesValueStatus
EMN $0 SOLD
SPY $0 SOLD

New Positions

SymbolValue% Port
HON $20M 2.95%
NOK $13M 1.96%
EVTL $11M 1.61%
HUN $10M 1.51%
CELH $5M 0.69%
SENS $1M 0.21%

Sold Out Positions

SymbolValue% Port
DQ —%
ADM —%
CRC —%
VALE —%
VFC —%
PBR —%
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