MASTERS CAPITAL MANAGEMENT LLC — 13F Holdings & Portfolio
CIK 1104186 · latest 13F-HR filed 2026-05-15
MASTERS CAPITAL MANAGEMENT LLC manages $3.03B in 13F-reported U.S. long-equity assets across 98 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are TLT (11.46%), BABA (4.15%), IBM (4.00%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 10 new positions, exited 9, added to 14, and trimmed 15.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$3.03B
Long-equity book
98
Distinct positions
2026-03-31
Filed 2026-05-15
+10 / −9 / ↑14 / ↓15
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- UNITED PARCEL SVCS INC$19.4M +65.3%
- TRANSOCEAN LTD$9.1M +221.1%
- NOV INC$6.4M +20.3%
- MOHAWK INDS INC$5.5M +12.6%
- AST SPACEMOBILE INC$5.1M +14.1%
Top Trims
- THE REALREAL INC-$13.4M -42.5%
- NCR VOYIX CORPORATION-$8.4M -27.6%
- PONY AI INC-$8.4M -48.5%
- NEXGEN ENERGY LTD-$6.8M -37.0%
- DENALI THERAPEUTICS INC-$5.0M -30.2%
New Positions
- HORMEL FOODS CORP$19.3M
- BETA TECHNOLOGIES INC$10.3M
- FASTLY INC$8.7M
- ISOENERGY LTD$7.4M
- SUNRUN INC$6.8M
Exited Positions
- HONEYWELL INTL INC$19.5M
- DOW INC$16.4M
- BRISTOL-MYERS SQUIBB CO$16.2M
- OLIN CORP$14.6M
- ALLIED GOLD CORP$11.4M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR Call | TLT | 464287432 | $346.8M | 11.46% | 4,000,000 | SH |
| 2 | ALIBABA GROUP HLDG LTD Call | BABA | 01609W102 | $125.5M | 4.15% | 1,000,000 | SH |
| 3 | INTERNATIONAL BUSINESS MACHS Call | IBM | 459200101 | $121.2M | 4.00% | 500,000 | SH |
| 4 | CITIGROUP INC Call | C | 172967424 | $113.4M | 3.75% | 1,000,000 | SH |
| 5 | CITIGROUP INC Call | C | 172967424 | $113.4M | 3.75% | 1,000,000 | SH |
| 6 | UNITED PARCEL SVCS INC Call | UPS | 911312106 | $98.4M | 3.25% | 1,000,000 | SH |
| 7 | WAYFAIR INC Call | W | 94419L101 | $75.2M | 2.49% | 1,000,000 | SH |
| 8 | GENERAL MTRS CO Call | GM | 37045V100 | $74.5M | 2.46% | 1,000,000 | SH |
| 9 | DELTA AIR LINES INC | DAL | 247361702 | $66.5M | 2.20% | 1,000,000 | SH |
| 10 | DELTA AIR LINES INC Put | DAL | 247361702 | $66.5M | 2.20% | 1,000,000 | SH |
| 11 | BRISTOL-MYERS SQUIBB CO Call | BMY | 110122108 | $60.6M | 2.00% | 1,000,000 | SH |
| 12 | AIR PRODUCTS AND CHEMICALS I Call | APD | 009158106 | $58.1M | 1.92% | 200,000 | SH |
| 13 | BORGWARNER INC Call | BWA | 099724106 | $54.3M | 1.79% | 1,000,000 | SH |
| 14 | ECOLAB INC Call | ECL | 278865100 | $53.2M | 1.76% | 200,000 | SH |
| 15 | CLOROX CO DEL Call | CLX | 189054109 | $51.8M | 1.71% | 500,000 | SH |
| 16 | SLB LIMITED Call | SLB | 806857108 | $51.4M | 1.70% | 1,000,000 | SH |
| 17 | MOHAWK INDS INC | MHK | 608190104 | $49.2M | 1.63% | 500,000 | SH |
| 18 | UNITED PARCEL SVCS INC | UPS | 911312106 | $49.2M | 1.63% | 500,000 | SH |
| 19 | UNITED PARCEL SVCS INC Call | UPS | 911312106 | $49.2M | 1.63% | 500,000 | SH |
| 20 | FREEPORT MCMORAN INC Call | FCX | 35671D857 | $47.0M | 1.55% | 800,000 | SH |
| 21 | INTEL CORP Call | INTC | 458140100 | $44.1M | 1.46% | 1,000,000 | SH |
| 22 | INTEL CORP Call | INTC | 458140100 | $44.1M | 1.46% | 1,000,000 | SH |
| 23 | INTEL CORP Call | INTC | 458140100 | $44.1M | 1.46% | 1,000,000 | SH |
| 24 | FLUOR CORP | FLR | 343412102 | $43.2M | 1.43% | 925,000 | SH |
| 25 | AST SPACEMOBILE INC | ASTS | 00217D100 | $41.4M | 1.37% | 500,000 | SH |
| 26 | AST SPACEMOBILE INC Call | ASTS | 00217D100 | $41.4M | 1.37% | 500,000 | SH |
| 27 | NOV INC | NOV | 62955J103 | $37.6M | 1.24% | 2,000,000 | SH |
| 28 | ARCHER DANIELS MIDLAND CO Call | ADM | 039483102 | $36.3M | 1.20% | 500,000 | SH |
| 29 | CVS HEALTH CORP Call | CVS | 126650100 | $35.9M | 1.19% | 500,000 | SH |
| 30 | ORMAT TECHNOLOGIES INC Call | ORA | 686688102 | $33.6M | 1.11% | 300,000 | SH |
| 31 | BOSTON SCIENTIFIC CORP Call | BSX | 101137107 | $31.4M | 1.04% | 500,000 | SH |
| 32 | MOHAWK INDS INC Call | MHK | 608190104 | $29.5M | 0.98% | 300,000 | SH |
| 33 | UNITED PARCEL SVCS INC Call | UPS | 911312106 | $29.5M | 0.98% | 300,000 | SH |
| 34 | IONQ INC Call | IONQ | 46222L108 | $28.8M | 0.95% | 1,000,000 | SH |
| 35 | FIREFLY AEROSPACE INC Call | FLY | 31816X106 | $28.5M | 0.94% | 1,000,000 | SH |
| 36 | FIFTH THIRD BANCORP Call | FITB | 316773100 | $27.9M | 0.92% | 600,000 | SH |
| 37 | YPF SOCIEDAD ANONIMA Call | YPF | 984245100 | $23.1M | 0.76% | 500,000 | SH |
| 38 | YPF SOCIEDAD ANONIMA Call | YPF | 984245100 | $23.1M | 0.76% | 500,000 | SH |
| 39 | ORMAT TECHNOLOGIES INC Call | ORA | 686688102 | $22.4M | 0.74% | 200,000 | SH |
| 40 | GENERAL MTRS CO Call | GM | 37045V100 | $22.4M | 0.74% | 300,000 | SH |
| 41 | NCR VOYIX CORPORATION | VYX | 62886E108 | $22.2M | 0.73% | 3,500,000 | SH |
| 42 | BRAINSWAY LTD | BWAY | 10501L106 | $21.9M | 0.72% | 1,650,000 | SH |
| 43 | BARCLAYS PLC | BCS | 06738E204 | $21.2M | 0.70% | 1,000,000 | SH |
| 44 | BARCLAYS PLC Call | BCS | 06738E204 | $21.2M | 0.70% | 1,000,000 | SH |
| 45 | DAUCH CORP | DCH | 024061103 | $20.8M | 0.69% | 3,500,000 | SH |
| 46 | FLUOR CORP Call | FLR | 343412102 | $20.1M | 0.66% | 430,000 | SH |
| 47 | BOEING CO Call | BA | 097023105 | $19.9M | 0.66% | 100,000 | SH |
| 48 | BOEING CO Call | BA | 097023105 | $19.9M | 0.66% | 100,000 | SH |
| 49 | ALCOA CORP Call | AA | 013872106 | $19.9M | 0.66% | 300,000 | SH |
| 50 | HORMEL FOODS CORP | HRL | 440452100 | $19.3M | 0.64% | 850,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $3.03B | 98 | 0001104186-26-000004 |
| 2025-12-31 | 2026-02-17 | $2.45B | 85 | 0001104186-26-000003 |
| 2025-09-30 | 2025-11-14 | $2.76B | 83 | 0001104186-25-000012 |