MASTERS CAPITAL MANAGEMENT LLC

CIK

1104186

Location

ATLANTA, GA

Portfolio Value

Mid $2,718,900,578

Diversification

Diversified

Filing Date

Global Rank

#992 / 8,603 ▲ 76 · as of Mar 2026

Top Industry

Banks - Diversified 10.0%

3Y Alpha vs SPY

+3.4%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+67.0%

SPY

+76.0%

Annualised alpha

-2.1%

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

70 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.3%

−0.8 pts

Top 5

31.0%

−1.1 pts

Top 10

48.0%

−1.0 pts

HHI

337

Diversified−9

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Industrials	21.1%	$572,644,750	11
Consumer Cyclical	19.4%	$527,421,000	9
Technology	17.8%	$484,978,000	12
Financial Services	10.9%	$297,016,000	3
Basic Materials	9.2%	$250,455,000	10
Energy	8.0%	$218,584,562	10
Healthcare	6.5%	$177,078,500	9
Consumer Defensive	4.0%	$107,412,500	3
Utilities	2.1%	$55,960,000	1
Unclassified	0.7%	$19,130,266	1
Real Estate	0.3%	$8,220,000	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
REAL	TheRealReal, Inc.	+2,000,000	4,000,000	$36,320,000
C	Citigroup Inc	+1,300,000	2,000,000	$226,820,000
CLF	Cleveland-Cliffs Inc.	+1,200,000	3,200,000	$27,040,000
INTC	Intel Corp	+1,000,000	3,000,000	$132,390,000
BCS	Barclays PLC	+1,000,000	2,000,000	$42,320,000
ENVX	Enovix Corp	+1,000,000	3,000,000	$15,540,000
BMY	Bristol Myers Squibb Co	+700,000	1,000,000	$60,650,000
BWAY	Brainsway Ltd.	+650,000	1,650,000	$21,928,500
DCH	Dauch Corp	+500,000	3,500,000	$20,755,000
ASTS	AST SpaceMobile, Inc.	+500,000	1,000,000	$82,870,000
VYX	NCR Voyix Corp	+500,000	3,500,000	$22,155,000
FCX	Freeport-Mcmoran Inc	+420,100	800,000	$47,024,000
MHK	Mohawk Industries Inc	+400,000	800,000	$78,768,000
EVTL	Vertical Aerospace Ltd.	+400,000	3,400,000	$7,514,000
YPF	Ypf Sociedad Anonima	+380,000	1,000,000	$46,220,000
IBM	International Business Machines Corp	+300,000	500,000	$121,195,000
FLR	Fluor Corp	+255,000	1,355,000	$63,210,750
SENS	Senseonics Holdings, Inc.	+250,002	500,000	$3,330,000
CLX	Clorox Co /De/	+184,500	500,000	$51,815,000
FTK	Flotek Industries Inc/Cn/	+89,438	1,089,438	$18,487,762
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
SLB	Slb Limited/Nv	−1,000,000	1,000,000	$51,390,000
NXE	NexGen Energy Ltd.	−1,000,000	1,000,000	$11,600,000
UP	Wheels Up Experience Inc.	−1,000,000	4,000,000	$41,360,000
BORR	Borr Drilling Ltd	−900,000	2,000,000	$11,540,000
EMN	Eastman Chemical Co	−900,000	200,000	$15,264,000
GM	General Motors Co	−700,000	1,300,000	$96,850,000
IP	International Paper Co /New/	−500,000	500,000	$17,850,000
DNLI	Denali Therapeutics Inc.	−400,000	600,000	$11,520,000
BA	Boeing Co	−300,000	200,000	$39,806,000
AA	Alcoa Corp	−200,000	300,000	$19,899,000
TLS	Telos Corp	−100,000	2,000,000	$8,380,000
EVEX	Eve Holding, Inc.	−100,000	2,000,000	$4,960,000
LION	Lionsgate Studios Corp.	−5,186	1,994,814	$19,130,266
No positions match the current search.

New Positions

Positions the filer opened this quarter

21 positions

Ticker	Company	Shares	Value
W	Wayfair Inc.	1,100,000	$82,731,000
APD	Air Products & Chemicals, Inc.	200,000	$58,098,000
ORA	Ormat Technologies, Inc.	500,000	$55,960,000
ECL	Ecolab Inc.	200,000	$53,204,000
ADM	Archer-Daniels-Midland Co	500,000	$36,345,000
CVS	CVS HEALTH Corp	500,000	$35,910,000
IONQ	IonQ, Inc.	1,100,000	$31,713,000
BSX	Boston Scientific Corp	500,000	$31,375,000
FLY	Firefly Aerospace Inc.	1,000,000	$28,470,000
FITB	Fifth Third Bancorp	600,000	$27,876,000
FSLY	Fastly, Inc.	800,000	$23,248,000
HRL	Hormel Foods Corp /De/	850,000	$19,252,500
MBLY	Mobileye Global Inc.	2,100,000	$14,427,000
VG	Venture Global, Inc.	880,000	$13,868,800
BETA	BETA Technologies, Inc.	700,000	$10,290,000
AAOI	Applied Optoelectronics, Inc.	100,000	$8,459,000
ISOU	IsoEnergy Ltd.	700,000	$7,378,000
RUN	Sunrun Inc.	500,000	$6,780,000
MANE	Veradermics, Inc	100,000	$6,315,000
IAG	Iamgold Corp	300,000	$5,646,000
ITRG	Integra Resources Corp.	1,000,000	$2,730,000
No positions match the current search.

Sold Out

Positions the filer fully exited

15 positions

Ticker	Company	Shares	Value
HON	Honeywell International Inc	600,000	$122,762,460
MET	Metlife Inc	1,000,000	$78,940,000
GLW	Corning Inc /Ny	500,000	$43,780,000
MRVL	Marvell Technology, Inc.	500,000	$42,490,000
DOW	Dow Inc.	1,700,000	$39,746,000
OLN	OLIN Corp	1,700,000	$35,411,000
NKE	NIKE, Inc.	500,000	$31,855,000
CE	Celanese Corp	669,200	$28,293,776
F	Ford Motor Co	2,000,000	$26,240,000
PFE	Pfizer Inc	1,000,000	$24,900,000
APA	APA Corp	1,000,000	$24,460,000
AAUC	Allied Gold Corp	500,000	$11,440,000
GPRE	Green Plains Inc.	1,000,000	$9,800,000
ACHR	Archer Aviation Inc.	999,600	$7,516,992
CELH	Celsius Holdings, Inc.	100,000	$4,574,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

70 positions · $2,718,900,578 total · as of Mar 31, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 70 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
C	Citigroup Inc Financial Services	Added	2,000,000	+1,300,000	$226,820,000	+177.7%	8.34%
UPS	United Parcel Service Inc Industrials	Held	2,300,000	0	$226,274,000	−0.8%	8.32%
DAL	Delta Air Lines, Inc. Industrials	Held	2,000,000	0	$132,960,000	−4.2%	4.89%
INTC	Intel Corp Technology	Added	3,000,000	+1,000,000	$132,390,000	+79.4%	4.87%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Held	1,000,000	0	$125,460,000	−14.4%	4.61%
IBM	International Business Machines Corp Technology	Added	500,000	+300,000	$121,195,000	+104.6%	4.46%
GM	General Motors Co Consumer Cyclical	Reduced	1,300,000	-700,000	$96,850,000	−40.5%	3.56%
ASTS	AST SpaceMobile, Inc. Technology	Added	1,000,000	+500,000	$82,870,000	+128.2%	3.05%
W	Wayfair Inc. Consumer Cyclical	NEW	1,100,000	NEW	$82,731,000	NEW	3.04%
MHK	Mohawk Industries Inc Consumer Cyclical	Added	800,000	+400,000	$78,768,000	+80.2%	2.90%
FLR	Fluor Corp Industrials	Added	1,355,000	+255,000	$63,210,750	+45.0%	2.32%
BMY	Bristol Myers Squibb Co Healthcare	Added	1,000,000	+700,000	$60,650,000	+274.8%	2.23%
APD	Air Products & Chemicals, Inc. Basic Materials	NEW	200,000	NEW	$58,098,000	NEW	2.14%
ORA	Ormat Technologies, Inc. Utilities	NEW	500,000	NEW	$55,960,000	NEW	2.06%
BWA	Borgwarner Inc Consumer Cyclical	Held	1,000,000	0	$54,260,000	+20.4%	2.00%
ECL	Ecolab Inc. Basic Materials	NEW	200,000	NEW	$53,204,000	NEW	1.96%
CLX	Clorox Co /De/ Consumer Defensive	Added	500,000	+184,500	$51,815,000	+62.9%	1.91%
SLB	Slb Limited/Nv Energy	Reduced	1,000,000	-1,000,000	$51,390,000	−33.1%	1.89%
FCX	Freeport-Mcmoran Inc Basic Materials	Added	800,000	+420,100	$47,024,000	+143.7%	1.73%
YPF	Ypf Sociedad Anonima Energy	Added	1,000,000	+380,000	$46,220,000	+106.2%	1.70%
BCS	Barclays PLC Financial Services	Added	2,000,000	+1,000,000	$42,320,000	+66.3%	1.56%
UP	Wheels Up Experience Inc. Industrials	Reduced	4,000,000	-1,000,000	$41,360,000	−37.0%	1.52%
BA	Boeing Co Industrials	Reduced	200,000	-300,000	$39,806,000	−63.3%	1.46%
NOV	NOV Inc. Energy	Held	2,000,000	0	$37,620,000	+20.3%	1.38%
ADM	Archer-Daniels-Midland Co Consumer Defensive	NEW	500,000	NEW	$36,345,000	NEW	1.34%
REAL	TheRealReal, Inc. Consumer Cyclical	Added	4,000,000	+2,000,000	$36,320,000	+15.1%	1.34%
CVS	CVS HEALTH Corp Healthcare	NEW	500,000	NEW	$35,910,000	NEW	1.32%
IONQ	IonQ, Inc. Technology	NEW	1,100,000	NEW	$31,713,000	NEW	1.17%
BSX	Boston Scientific Corp Healthcare	NEW	500,000	NEW	$31,375,000	NEW	1.15%
FLY	Firefly Aerospace Inc. Industrials	NEW	1,000,000	NEW	$28,470,000	NEW	1.05%
FITB	Fifth Third Bancorp Financial Services	NEW	600,000	NEW	$27,876,000	NEW	1.03%
CLF	Cleveland-Cliffs Inc. Basic Materials	Added	3,200,000	+1,200,000	$27,040,000	+1.8%	0.99%
FSLY	Fastly, Inc. Technology	NEW	800,000	NEW	$23,248,000	NEW	0.86%
VYX	NCR Voyix Corp Technology	Added	3,500,000	+500,000	$22,155,000	−27.6%	0.81%
BWAY	Brainsway Ltd. Healthcare	Added	1,650,000	+650,000	$21,928,500	+130.6%	0.81%
DCH	Dauch Corp Consumer Cyclical	Added	3,500,000	+500,000	$20,755,000	+7.9%	0.76%
AA	Alcoa Corp Basic Materials	Reduced	300,000	-200,000	$19,899,000	−25.1%	0.73%
RIG	Transocean Ltd. Energy	Held	3,000,000	0	$19,890,000	+60.5%	0.73%
HRL	Hormel Foods Corp /De/ Consumer Defensive	NEW	850,000	NEW	$19,252,500	NEW	0.71%
LION	Lionsgate Studios Corp.	Reduced	1,994,814	-5,186	$19,130,266	+4.8%	0.70%
FTK	Flotek Industries Inc/Cn/ Energy	Added	1,089,438	+89,438	$18,487,762	+7.3%	0.68%
PONY	Pony AI Inc. Technology	Held	1,950,000	0	$18,408,000	−34.9%	0.68%
IP	International Paper Co /New/ Consumer Cyclical	Reduced	500,000	-500,000	$17,850,000	−54.7%	0.66%
NOK	Nokia Corp Technology	Held	2,000,000	0	$16,080,000	+24.3%	0.59%
ENVX	Enovix Corp Industrials	Added	3,000,000	+1,000,000	$15,540,000	+6.3%	0.57%
EMN	Eastman Chemical Co Basic Materials	Reduced	200,000	-900,000	$15,264,000	−78.3%	0.56%
MBLY	Mobileye Global Inc. Consumer Cyclical	NEW	2,100,000	NEW	$14,427,000	NEW	0.53%
VG	Venture Global, Inc. Energy	NEW	880,000	NEW	$13,868,800	NEW	0.51%
HUN	Huntsman CORP Basic Materials	Held	1,000,000	0	$13,310,000	+33.1%	0.49%
LYFT	Lyft, Inc. Technology	Held	1,000,000	0	$13,300,000	−31.3%	0.49%