NINE MASTS CAPITAL Ltd

CIK

1569356

Location

CENTRAL, K3

Portfolio Value

Mid $1,089,712,820

Diversification

Diversified

Filing Date

Global Rank

#1,671 / 8,603 ▲ 1306 · as of Mar 2026

Top Industry

Semiconductors 12.7%

3Y Alpha vs SPY

-9.3%

Period ended 3 months ago

Filed May 13, 2026 · 57d

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

+37.6%

SPY

+76.0%

Annualised alpha

-9.5%

Max drawdown

−29.7%

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

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

Top Position

36.6%

+13.5 pts

Top 5

54.8%

−8.2 pts

Top 10

65.2%

−11.4 pts

HHI

1,478

Diversified+388

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	38.4%	$418,182,108	2
Technology	15.7%	$171,614,845	32
Communication Services	12.6%	$137,703,858	12
Financial Services	9.2%	$100,698,234	16
Energy	6.7%	$73,544,168	10
Consumer Cyclical	4.8%	$51,841,957	22
Healthcare	3.7%	$40,047,708	55
Utilities	3.3%	$36,478,324	8
Industrials	2.9%	$31,456,060	9
Real Estate	1.5%	$16,393,415	5
Consumer Defensive	1.1%	$11,667,493	9
Basic Materials	0.0%	$84,650	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
WBD	Warner Bros. Discovery, Inc.	+1,947,407	2,199,256	$60,391,569
AES	Aes Corp	+941,042	979,942	$13,807,382
CWAN	Clearwater Analytics Holdings, Inc.	+881,391	950,714	$22,484,386
NIO	NIO Inc.	+650,000	1,124,500	$6,780,735
SPY	Spdr S&P 500 ETF Trust	+509,500	613,639	$399,073,987
KVUE	Kenvue Inc.	+421,006	614,869	$10,600,341
EA	Electronic Arts Inc.	+199,157	207,191	$42,240,029
HOLX	HOLOGIC INC	+174,606	224,606	$16,977,967
UBER	Uber Technologies, Inc	+149,500	153,641	$11,051,397
LNAI	Lunai Bioworks Inc.	+78,206	102,426	$334,318
DCGO	DocGo Inc.	+47,617	68,750	$43,243
JD	JD.com, Inc.	+40,400	314,290	$9,293,555
ASX	ASE Technology Holding Co., Ltd.	+37,561	777,180	$16,849,262
SCHW	Schwab Charles Corp	+36,163	40,258	$3,783,446
NVDA	Nvidia Corp	+33,573	42,694	$7,445,833
PDD	PDD Holdings Inc.	+32,000	38,586	$3,942,717
SEE	SEALED AIR CORP/DE	+31,757	50,000	$2,102,500
TXNM	Txnm Energy Inc	+29,500	100,481	$5,874,119
LUNG	Pulmonx Corp	+28,492	38,598	$49,791
ATNM	Actinium Pharmaceuticals, Inc.	+22,287	35,227	$35,050
JHG	Janus Henderson Group Ltd.	+14,731	54,254	$2,787,027
GETY	Getty Images Holdings, Inc.	+12,599	33,567	$26,618
HFFG	HF Foods Group Inc.	+7,171	18,478	$34,184
BTBT	Bit Digital, Inc	+6,095	17,404	$22,799
ALXO	Alx Oncology Holdings Inc	+5,148	20,623	$41,349
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
RNW	ReNew Energy Global plc	−277,671	630,878	$2,889,421
AIV	Apartment Investment & Management Co	−109,164	10,836	$44,102
RYAAY	Ryanair Holdings PLC	−103,362	28,159	$1,627,590
NSC	Norfolk Southern Corp	−75,538	85,314	$24,485,118
QRVO	Qorvo, Inc.	−43,212	124,744	$9,655,185
CTLP	Cantaloupe, Inc.	−33,627	246,736	$2,667,216
RXT	Rackspace Technology, Inc.	−16,856	23,381	$22,913
QQQ	Invesco Qqq Trust, Series 1	−7,347	33,106	$19,108,121
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SLAB	Silicon Laboratories Inc.	232,369	$48,367,607
HDB	Hdfc Bank Ltd	1,900,809	$47,292,127
COP	Conocophillips	188,600	$24,895,200
CVX	Chevron Corp	98,500	$20,379,650
WBS	Webster Financial Corp	293,333	$20,363,176
META	Meta Platforms, Inc.	29,700	$16,992,261
PLTR	Palantir Technologies Inc.	109,800	$16,061,544
AMT	American Tower Corp /Ma/	83,000	$14,324,140
GOOGL	Alphabet Inc.	47,900	$13,774,124
VLO	Valero Energy Corp/Tx	47,900	$11,835,132
ZS	Zscaler, Inc.	72,300	$10,142,967
SHOP	Shopify Inc.	77,300	$9,169,326
TSLA	Tesla, Inc.	23,100	$8,587,425
BHF	Brighthouse Financial, Inc.	142,288	$8,520,205
PANW	Palo Alto Networks Inc	52,400	$8,400,768
FANG	Diamondback Energy, Inc.	40,000	$7,911,600
PEN	Penumbra Inc	23,743	$7,796,488
F	Ford Motor Co	636,800	$7,348,672
VAL	Valaris Ltd	61,854	$6,064,166
FITB	Fifth Third Bancorp	129,800	$6,030,508
COF	Capital One Financial Corp	29,488	$5,379,495
D	Dominion Energy, Inc	83,600	$5,168,152
RIVN	Rivian Automotive, Inc. / DE	313,000	$4,710,650
PFE	Pfizer Inc	156,200	$4,386,096
APLS	Apellis Pharmaceuticals, Inc.	97,478	$3,921,539
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
IBIT	iShares Bitcoin Trust ETF	1,889,214	$93,799,475
LIN	Linde PLC	45,400	$19,358,106
GSK	GSK plc	205,929	$10,098,758
EXAS	EXACT SCIENCES CORP	93,717	$9,517,898
PBR	Petrobras - Petroleo Brasileiro SA	410,245	$4,861,403
ETHA	iShares Ethereum Trust ETF	195,193	$4,378,178
GTLS	Chart Industries Inc	19,865	$4,096,758
VRSN	Verisign Inc/Ca	13,548	$3,291,486
MDT	Medtronic plc	30,300	$2,910,618
BIDU	Baidu, Inc.	19,811	$2,588,505
BTI	British American Tobacco p.l.c.	34,475	$1,951,974
CUK	CARNIVAL PLC	55,335	$1,678,310
CSGS	Csg Systems International Inc	20,000	$1,533,800
AXTA	Axalta Coating Systems Ltd.	40,000	$1,292,400
XFLT	XAI Floating Rate & Alternative Income Trust	53,804	$1,291,296
SEMR	SEMrush Holdings, Inc.	100,000	$1,189,000
NOW	ServiceNow, Inc.	7,605	$1,165,009
BIPH	Brookfield Infrastructure Partners L.P.	31,549	$1,096,012
TGNA	TEGNA INC	46,030	$893,442
TWO	Two Harbors Investment Corp.	81,000	$850,500
LYB	LyondellBasell Industries N.V.	19,126	$828,155
TTD	Trade Desk, Inc.	20,500	$778,180
ADV	Advantage Solutions Inc.	34,990	$769,780
FOLD	AMICUS THERAPEUTICS, INC.	50,000	$712,000
IMXI	International Money Express, Inc.	45,000	$691,200
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

182 positions · $1,089,712,820 total · as of Mar 31, 2026

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

Showing 1–50 of 182 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Added	613,639	+509,500	$399,073,987	+462.0%	36.62%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	2,199,256	+1,947,407	$60,391,569	+732.0%	5.54%
SLAB	Silicon Laboratories Inc. Technology	NEW	232,369	NEW	$48,367,607	NEW	4.44%
HDB	Hdfc Bank Ltd Financial Services	NEW	1,900,809	NEW	$47,292,127	NEW	4.34%
EA	Electronic Arts Inc. Communication Services	Added	207,191	+199,157	$42,240,029	+2473.1%	3.88%
COP	Conocophillips Energy	NEW	188,600	NEW	$24,895,200	NEW	2.28%
NSC	Norfolk Southern Corp Industrials	Reduced	85,314	-75,538	$24,485,118	−47.3%	2.25%
CWAN	Clearwater Analytics Holdings, Inc. Technology	Added	950,714	+881,391	$22,484,386	+1244.7%	2.06%
CVX	Chevron Corp Energy	NEW	98,500	NEW	$20,379,650	NEW	1.87%
WBS	Webster Financial Corp Financial Services	NEW	293,333	NEW	$20,363,176	NEW	1.87%
QQQ	Invesco Qqq Trust, Series 1	Reduced	33,106	-7,347	$19,108,121	−23.1%	1.75%
META	Meta Platforms, Inc. Communication Services	NEW	29,700	NEW	$16,992,261	NEW	1.56%
HOLX	HOLOGIC INC Healthcare	Added	224,606	+174,606	$16,977,967	+355.8%	1.56%
ASX	ASE Technology Holding Co., Ltd. Technology	Added	777,180	+37,561	$16,849,262	+41.5%	1.55%
PLTR	Palantir Technologies Inc. Technology	NEW	109,800	NEW	$16,061,544	NEW	1.47%
AMT	American Tower Corp /Ma/ Real Estate	NEW	83,000	NEW	$14,324,140	NEW	1.31%
AES	Aes Corp Utilities	Added	979,942	+941,042	$13,807,382	+2375.2%	1.27%
GOOGL	Alphabet Inc. Communication Services	NEW	47,900	NEW	$13,774,124	NEW	1.26%
VLO	Valero Energy Corp/Tx Energy	NEW	47,900	NEW	$11,835,132	NEW	1.09%
UBER	Uber Technologies, Inc Technology	Added	153,641	+149,500	$11,051,397	+3166.2%	1.01%
KVUE	Kenvue Inc. Consumer Defensive	Added	614,869	+421,006	$10,600,341	+217.0%	0.97%
ZS	Zscaler, Inc. Technology	NEW	72,300	NEW	$10,142,967	NEW	0.93%
QRVO	Qorvo, Inc. Technology	Reduced	124,744	-43,212	$9,655,185	−32.0%	0.89%
JD	JD.com, Inc. Consumer Cyclical	Added	314,290	+40,400	$9,293,555	+18.2%	0.85%
SHOP	Shopify Inc. Technology	NEW	77,300	NEW	$9,169,326	NEW	0.84%
TSLA	Tesla, Inc. Consumer Cyclical	NEW	23,100	NEW	$8,587,425	NEW	0.79%
BHF	Brighthouse Financial, Inc. Financial Services	NEW	142,288	NEW	$8,520,205	NEW	0.78%
PANW	Palo Alto Networks Inc Technology	NEW	52,400	NEW	$8,400,768	NEW	0.77%
FANG	Diamondback Energy, Inc. Energy	NEW	40,000	NEW	$7,911,600	NEW	0.73%
PEN	Penumbra Inc Healthcare	NEW	23,743	NEW	$7,796,488	NEW	0.72%
NVDA	Nvidia Corp Technology	Added	42,694	+33,573	$7,445,833	+337.7%	0.68%
F	Ford Motor Co Consumer Cyclical	NEW	636,800	NEW	$7,348,672	NEW	0.67%
NIO	NIO Inc. Consumer Cyclical	Added	1,124,500	+650,000	$6,780,735	+180.2%	0.62%
VAL	Valaris Ltd Energy	NEW	61,854	NEW	$6,064,166	NEW	0.56%
FITB	Fifth Third Bancorp Financial Services	NEW	129,800	NEW	$6,030,508	NEW	0.55%
TXNM	Txnm Energy Inc Utilities	Added	100,481	+29,500	$5,874,119	+40.6%	0.54%
COF	Capital One Financial Corp Financial Services	NEW	29,488	NEW	$5,379,495	NEW	0.49%
D	Dominion Energy, Inc Utilities	NEW	83,600	NEW	$5,168,152	NEW	0.47%
RIVN	Rivian Automotive, Inc. / DE Consumer Cyclical	NEW	313,000	NEW	$4,710,650	NEW	0.43%
PFE	Pfizer Inc Healthcare	NEW	156,200	NEW	$4,386,096	NEW	0.40%
PDD	PDD Holdings Inc. Consumer Cyclical	Added	38,586	+32,000	$3,942,717	+428.0%	0.36%
APLS	Apellis Pharmaceuticals, Inc. Healthcare	NEW	97,478	NEW	$3,921,539	NEW	0.36%
SCHW	Schwab Charles Corp Financial Services	Added	40,258	+36,163	$3,783,446	+824.8%	0.35%
DRI	Darden Restaurants Inc Consumer Cyclical	NEW	15,800	NEW	$3,097,432	NEW	0.28%
CEG	Constellation Energy Corp Utilities	NEW	10,600	NEW	$2,960,050	NEW	0.27%
RNW	ReNew Energy Global plc Utilities	Reduced	630,878	-277,671	$2,889,421	−43.7%	0.27%
CRM	Salesforce, Inc. Technology	NEW	15,000	NEW	$2,800,050	NEW	0.26%
UNF	Unifirst Corp Industrials	NEW	11,091	NEW	$2,790,384	NEW	0.26%
JHG	Janus Henderson Group Ltd. Financial Services	Added	54,254	+14,731	$2,787,027	+48.2%	0.26%
AVGO	Broadcom Inc. Technology	NEW	8,700	NEW	$2,692,737	NEW	0.25%