MASTERS CAPITAL MANAGEMENT LLC
Filing Date
Global Rank
#949
/ 8,420
▲ 34
Top Industry
Integrated Freight & Logistics
9.4%
3Y Alpha vs SPY
+4.6%
Period ended 6 months ago
Filed Feb 17, 2026 · 4mo
24 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+97.1%
SPY
+76.3%
Annualised alpha
+4.6%
Max drawdown
−30.8%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
65 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
9.3%
−15.3 pts
Top 5
32.5%
−9.9 pts
Top 10
49.7%
−8.7 pts
HHI
350
Diversified−445
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Industrials | 28.2% | $687,899,992 |
| Consumer Cyclical | 22.4% | $546,275,000 |
| Technology | 14.6% | $357,522,000 |
| Basic Materials | 11.7% | $286,608,897 |
| Energy | 9.8% | $239,814,200 |
| Financial Services | 7.6% | $186,073,000 |
| Healthcare | 3.0% | $74,221,988 |
| Consumer Defensive | 1.5% | $36,385,865 |
| Unclassified | 0.7% | $18,260,000 |
| Real Estate | 0.4% | $8,610,000 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
15 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| UP | Wheels Up Experience Inc. | +4,000,000 | 5,000,000 | $3,280,000 | |
| EVTL | Vertical Aerospace Ltd. | +2,000,000 | 3,000,000 | $15,990,000 | |
| DCH | Dauch Corp | +1,800,000 | 3,000,000 | $19,230,000 | |
| GM | General Motors Co | +1,000,000 | 2,000,000 | $162,640,000 | |
| UPS | United Parcel Service Inc | +1,000,000 | 2,300,000 | $228,137,000 | |
| PONY | Pony AI Inc. | +950,000 | 1,950,000 | $28,275,000 | |
| BABA | Alibaba Group Holding Ltd | +900,000 | 1,000,000 | $146,580,000 | |
| VYX | NCR Voyix Corp | +900,000 | 3,000,000 | $30,600,000 | |
| OLN | OLIN Corp | +650,000 | 1,700,000 | $35,411,000 | |
| CE | Celanese Corp | +569,200 | 669,200 | $28,293,776 | |
| DNLI | Denali Therapeutics Inc. | +250,000 | 1,000,000 | $16,510,000 | |
| DOW | Dow Inc. | +200,000 | 1,700,000 | $39,746,000 | |
| MHK | Mohawk Industries Inc | +100,000 | 400,000 | $43,720,000 | |
| TLS | Telos Corp | +100,000 | 2,100,000 | $10,710,000 | |
| LUCD | Lucid Diagnostics Inc. | +727 | 4,000,000 | $4,360,000 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
13 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| AA | Alcoa Corp | −1,500,000 | 500,000 | $26,570,000 | |
| NOV | NOV Inc. | −1,000,000 | 2,000,000 | $31,260,000 | |
| EVEX | Eve Holding, Inc. | −950,000 | 2,100,000 | $8,379,000 | |
| BMY | Bristol Myers Squibb Co | −900,000 | 300,000 | $16,182,000 | |
| EMN | Eastman Chemical Co | −700,000 | 1,100,000 | $70,213,000 | |
| FCX | Freeport-Mcmoran Inc | −620,100 | 379,900 | $19,295,121 | |
| FLR | Fluor Corp | −600,000 | 1,100,000 | $43,593,000 | |
| GLW | Corning Inc /Ny | −500,100 | 500,000 | $43,780,000 | |
| C | Citigroup Inc | −300,000 | 700,000 | $81,683,000 | |
| IBM | International Business Machines Corp | −300,000 | 200,000 | $59,242,000 | |
| BORR | Borr Drilling Ltd | −100,000 | 2,900,000 | $11,687,000 | |
| XOM | Exxon Mobil Corp | −100,000 | 200,000 | $24,068,000 | |
| ACHR | Archer Aviation Inc. | −100 | 999,600 | $7,516,992 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
15 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| HON | Honeywell International Inc | 600,000 | $117,054,000 | |
| BA | Boeing Co | 500,000 | $108,560,000 | |
| MET | Metlife Inc | 1,000,000 | $78,940,000 | |
| MRVL | Marvell Technology, Inc. | 500,000 | $42,490,000 | |
| IP | International Paper Co /New/ | 1,000,000 | $39,390,000 | |
| NKE | NIKE, Inc. | 500,000 | $31,855,000 | |
| CLX | Clorox Co /De/ | 315,500 | $31,811,865 | |
| APA | APA Corp | 1,000,000 | $24,460,000 | |
| YPF | Ypf Sociedad Anonima | 620,000 | $22,419,200 | |
| LYFT | Lyft, Inc. | 1,000,000 | $19,370,000 | |
| NOK | Nokia Corp | 2,000,000 | $12,940,000 | |
| AAUC | Allied Gold Corp | 500,000 | $11,440,000 | |
| HUN | Huntsman CORP | 1,000,000 | $10,000,000 | |
| CELH | Celsius Holdings, Inc. | 100,000 | $4,574,000 | |
| SENS | Senseonics Holdings, Inc. | 249,998 | $1,379,988 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
12 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SPY | Spdr S&P 500 ETF Trust | 1,000,000 | $666,180,000 | |
| GILD | Gilead Sciences, Inc. | 1,000,000 | $111,000,000 | |
| ADM | Archer-Daniels-Midland Co | 1,000,000 | $59,740,000 | |
| NUE | Nucor Corp | 300,000 | $40,629,000 | |
| VFC | V F Corp | 2,000,000 | $28,860,000 | |
| HAL | Halliburton Co | 1,000,000 | $24,600,000 | |
| RUN | Sunrun Inc. | 1,000,000 | $17,290,000 | |
| PBR | Petrobras - Petroleo Brasileiro SA | 1,000,000 | $12,660,000 | |
| VALE | Vale S.A. | 1,000,000 | $10,860,000 | |
| CRC | California Resources Corp | 200,000 | $10,636,000 | |
| HTZ | Hertz Global Holdings, Inc | 1,000,000 | $6,800,000 | |
| DQ | Daqo New Energy Corp. | 200,000 | $5,626,000 | |
| No positions match the current search. | ||||
65 positions ·
$2,441,670,942 total
· as of Dec 31, 2025
All sectors
Basic Materials
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Showing 1–50
of 65 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| UPS |
United Parcel Service Inc
Industrials
|
Added | 2,300,000 | $228,137,000 | 9.34% | |
| GM |
General Motors Co
Consumer Cyclical
|
Added | 2,000,000 | $162,640,000 | 6.66% | |
| BABA |
Alibaba Group Holding Ltd
Consumer Cyclical
|
Added | 1,000,000 | $146,580,000 | 6.00% | |
| DAL |
Delta Air Lines, Inc.
Industrials
|
Held | 2,000,000 | $138,800,000 | 5.68% | |
| HON |
Honeywell International Inc
Industrials
|
NEW | 600,000 | $117,054,000 | 4.79% | |
| BA |
Boeing Co
Industrials
|
NEW | 500,000 | $108,560,000 | 4.45% | |
| C |
Citigroup Inc
Financial Services
|
Reduced | 700,000 | $81,683,000 | 3.35% | |
| MET |
Metlife Inc
Financial Services
|
NEW | 1,000,000 | $78,940,000 | 3.23% | |
| SLB |
Slb Limited/Nv
Energy
|
Held | 2,000,000 | $76,760,000 | 3.14% | |
| INTC |
Intel Corp
Technology
|
Held | 2,000,000 | $73,800,000 | 3.02% | |
| EMN |
Eastman Chemical Co
Basic Materials
|
Reduced | 1,100,000 | $70,213,000 | 2.88% | |
| IBM |
International Business Machines Corp
Technology
|
Reduced | 200,000 | $59,242,000 | 2.43% | |
| BWA |
Borgwarner Inc
Consumer Cyclical
|
Held | 1,000,000 | $45,060,000 | 1.85% | |
| GLW |
Corning Inc /Ny
Technology
|
Reduced | 500,000 | $43,780,000 | 1.79% | |
| MHK |
Mohawk Industries Inc
Consumer Cyclical
|
Added | 400,000 | $43,720,000 | 1.79% | |
| FLR |
Fluor Corp
Industrials
|
Reduced | 1,100,000 | $43,593,000 | 1.79% | |
| MRVL |
Marvell Technology, Inc.
Technology
|
NEW | 500,000 | $42,490,000 | 1.74% | |
| DOW |
Dow Inc.
Basic Materials
|
Added | 1,700,000 | $39,746,000 | 1.63% | |
| IP |
International Paper Co /New/
Consumer Cyclical
|
NEW | 1,000,000 | $39,390,000 | 1.61% | |
| ASTS |
AST SpaceMobile, Inc.
Technology
|
Held | 500,000 | $36,315,000 | 1.49% | |
| OLN |
OLIN Corp
Basic Materials
|
Added | 1,700,000 | $35,411,000 | 1.45% | |
| NKE |
NIKE, Inc.
Consumer Cyclical
|
NEW | 500,000 | $31,855,000 | 1.30% | |
| CLX |
Clorox Co /De/
Consumer Defensive
|
NEW | 315,500 | $31,811,865 | 1.30% | |
| REAL |
TheRealReal, Inc.
Consumer Cyclical
|
Held | 2,000,000 | $31,560,000 | 1.29% | |
| NOV |
NOV Inc.
Energy
|
Reduced | 2,000,000 | $31,260,000 | 1.28% | |
| VYX |
NCR Voyix Corp
Technology
|
Added | 3,000,000 | $30,600,000 | 1.25% | |
| CE |
Celanese Corp
Basic Materials
|
Added | 669,200 | $28,293,776 | 1.16% | |
| PONY |
Pony AI Inc.
Technology
|
Added | 1,950,000 | $28,275,000 | 1.16% | |
| AA |
Alcoa Corp
Basic Materials
|
Reduced | 500,000 | $26,570,000 | 1.09% | |
| CLF |
Cleveland-Cliffs Inc.
Basic Materials
|
Held | 2,000,000 | $26,560,000 | 1.09% | |
| F |
Ford Motor Co
Consumer Cyclical
|
Held | 2,000,000 | $26,240,000 | 1.07% | |
| BCS |
Barclays PLC
Financial Services
|
Held | 1,000,000 | $25,450,000 | 1.04% | |
| PFE |
Pfizer Inc
Healthcare
|
Held | 1,000,000 | $24,900,000 | 1.02% | |
| APA |
APA Corp
Energy
|
NEW | 1,000,000 | $24,460,000 | 1.00% | |
| XOM |
Exxon Mobil Corp
Energy
|
Reduced | 200,000 | $24,068,000 | 0.99% | |
| YPF |
Ypf Sociedad Anonima
Energy
|
NEW | 620,000 | $22,419,200 | 0.92% | |
| LYFT |
Lyft, Inc.
Technology
|
NEW | 1,000,000 | $19,370,000 | 0.79% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Reduced | 379,900 | $19,295,121 | 0.79% | |
| DCH |
Dauch Corp
Consumer Cyclical
|
Added | 3,000,000 | $19,230,000 | 0.79% | |
| NXE |
NexGen Energy Ltd.
Energy
|
Held | 2,000,000 | $18,400,000 | 0.75% | |
| LION |
Lionsgate Studios Corp.
|
Held | 2,000,000 | $18,260,000 | 0.75% | |
| FTK |
Flotek Industries Inc/Cn/
Energy
|
Held | 1,000,000 | $17,230,000 | 0.71% | |
| DNLI |
Denali Therapeutics Inc.
Healthcare
|
Added | 1,000,000 | $16,510,000 | 0.68% | |
| BMY |
Bristol Myers Squibb Co
Healthcare
|
Reduced | 300,000 | $16,182,000 | 0.66% | |
| EVTL |
Vertical Aerospace Ltd.
Industrials
|
Added | 3,000,000 | $15,990,000 | 0.65% | |
| ENVX |
Enovix Corp
Industrials
|
Held | 2,000,000 | $14,620,000 | 0.60% | |
| NOK |
Nokia Corp
Technology
|
NEW | 2,000,000 | $12,940,000 | 0.53% | |
| RIG |
Transocean Ltd.
Energy
|
Held | 3,000,000 | $12,390,000 | 0.51% | |
| BORR |
Borr Drilling Ltd
Energy
|
Reduced | 2,900,000 | $11,687,000 | 0.48% | |
| AAUC |
Allied Gold Corp
Basic Materials
|
NEW | 500,000 | $11,440,000 | 0.47% |