NINE MASTS CAPITAL Ltd — 13F Holdings & Portfolio

CIK 1569356 · latest 13F-HR filed 2026-08-07

NINE MASTS CAPITAL Ltd manages $994.7M in 13F-reported U.S. long-equity assets across 170 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPY (31.21%), BABAF (12.59%), HDB (10.14%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 56 new positions and exited 125; 14 existing positions rose in reported value and 20 fell.

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.

AUM

$994.7M

Long-equity book

Holdings

170

Distinct positions

Period

2026-06-30

Filed 2026-08-07

Q/Q Activity

+56 / −125 / ↑14 / ↓20

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26

SPY34.5% · +11323%BABAF13.9% · 0%HDB11.2% · +106%WBD3.3% · +6%FOX3.3% · 0%SLAB2.3% · -22%KVUE2.3% · +72%EA2.2% · -9%NIO1.8% · 0%SMCI1.8% · new NSC1.8% · -40%AKAM1.6% · new BCS1.5% · new QRVO1.4% · +4%ROKU1.3% · new WBS0.9% · -62%LYG0.9% · new JD0.9% · 0%TXNM0.9% · +38%PEN0.8% · -2%ASX0.8% · -80%GTLS0.7% · new BLD0.7% · new IRTC0.6% · new MMYT0.5% · new BHF0.5% · -1%KT0.4% · new UNF0.4% · +18%RNW0.3% · -26%JHG0.3% · 0%ZIM0.3% · +14%Z0.3% · -2%COP0.3% · new TRPCF0.3% · new NIO0.3% · 0%DBRG0.3% · +88%NDAQ0.2% · +106%GOOG0.2% · -97%PLTR0.2% · new NWE0.2% · +10%VAL0.2% · -57%PDD0.2% · +260%NEE0.2% · new PFE0.2% · new PCT0.2% · new APGE0.1% · new AVNS0.1% · new AES0.1% · -91%WTRG0.1% · new TWO0.1% · new TLN0.1% · +2876%RYAAY0.1% · -49%CEG0.1% · new MSFT0.1% · new WDS0.1% · 0%BZH0.1% · new CVX0.1% · new MDB0.1% · new IMXI0.1% · new RAMP0.1% · new

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 76.7%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Assets Under Management

$484.6M

Discretionary

$484.6M

Employees

Accounts

Address

667 MADISON AVENUE
5TH FLOOR
NEW YORK, NY 10065

Phone

85228689973

Website

WWW.NINEMASTS.COM

Name	Title / Status	Ownership	Type
BACKENHORN, IRENE ERIKA Control	CHIEF COMPLIANCE OFFICER	Less than 5%	Individual
BARNETT, PARAS, BRENT Control	TRUSTEE OF THE ROSSA TRUST	General partner	Individual
LI, Trevor Kiaran Ka-Chi Control	CHIEF FINANCIAL OFFICER	Less than 5%	Individual
NINE MASTS CAPITAL MANAGEMENT Control	SHAREHOLDER OF NINE MASTS CAPITAL ADVISERS LLC	75% or more	Foreign Entity
ROSSO INTERNATIONAL HOLDINGS LLC Control	SHAREHOLDER	25–50%	Domestic Entity
SCHACHTER, RON, ARMIN Control	DIRECTOR	Less than 5%	Individual
THE ROSSA TRUST Control	SHAREHOLDER OF ROSSO INTERNATIONAL HOLDINGS LLC	75% or more	Domestic Entity
WANG, BING Control	DIRECTOR	Less than 5%	Individual
WANG, BING Control	SHAREHOLDER	50–75%	Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

STATE STR SPDR S&P 500 ETF T$308.0M +13016.5%
HDFC BANK LTD$53.6M +113.3%
KENVUE INC$9.7M +91.1%
QORVO INC$2.5M +25.6%
TXNM ENERGY INC$2.0M +33.9%

Show all 14 →

Top Trims

ALPHABET INC-$66.5M -97.0%
ALIBABA GROUP HLDG LTD-$22.0M -15.0%
AES CORP-$12.6M -91.1%
WEBSTER FINL CORP-$11.9M -58.3%
ASE TECHNOLOGY HLDG CO LTD-$8.8M -55.2%

Show all 20 →

New Positions

Show all 56 →

Exited Positions

Show all 125 →

Loading…

#	Issuer	Symbol	CUSIP	Value	Δ

NINE MASTS CAPITAL Ltd Holdings (2026-06-30)

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	STATE STR SPDR S&P 500 ETF T	SPY	78462F103	$310.4M	31.21%	415,674	SH
2	ALIBABA GROUP HLDG LTD	BABAF	01609WBG6	$125.2M	12.59%	106,000	PRN
3	HDFC BANK LTD	HDB	40415F101	$100.9M	10.14%	3,905,609	SH
4	STATE STR SPDR S&P 500 ETF T Call	SPY	78462F103	$47.1M	4.74%	11,000	SH
5	WARNER BROS DISCOVERY INC	WBD	934423104	$29.9M	3.01%	1,123,148	SH
6	FOX CORP	FOX	35137L204	$29.8M	2.99%	635,475	SH
7	SILICON LABORATORIES INC	SLAB	826919102	$20.5M	2.06%	93,749	SH
8	KENVUE INC	KVUE	49177J102	$20.3M	2.04%	1,059,993	SH
9	ELECTRONIC ARTS INC	EA	285512109	$20.0M	2.01%	97,511	SH
10	NIO INC	NIO	62914VAK2	$16.3M	1.64%	16,250	PRN
11	SUPER MICRO COMPUTER INC	SMCI	86800UAB0	$16.2M	1.63%	17,500	PRN
12	NORFOLK SOUTHN CORP	NSC	655844108	$16.1M	1.62%	51,169	SH
13	AKAMAI TECHNOLOGIES INC	AKAM	00971TAQ4	$14.6M	1.47%	10,000	PRN
14	BARCLAYS PLC	BCS	06738E204	$13.3M	1.33%	493,965	SH
15	QORVO INC	QRVO	74736K101	$12.1M	1.22%	130,035	SH
16	ROKU INC	ROKU	77543R102	$11.5M	1.15%	83,000	SH
17	WEBSTER FINL CORP	WBS	947890109	$8.5M	0.85%	111,060	SH
18	LLOYDS BANKING GROUP PLC	LYG	539439109	$8.1M	0.81%	1,384,610	SH
19	JD.COM INC	JD	47215P106	$8.0M	0.81%	314,290	SH
20	TXNM ENERGY INC	TXNM	69349H107	$7.9M	0.79%	138,521	SH
21	PENUMBRA INC	PEN	70975L107	$7.3M	0.74%	23,264	SH
22	ASE TECHNOLOGY HLDG CO LTD	ASX	00215W100	$7.1M	0.72%	158,159	SH
23	PALO ALTO NETWORKS INC Call	PANW	697435105	$6.6M	0.66%	358	SH
24	CHART INDS INC	GTLS	16115Q308	$6.4M	0.64%	30,534	SH
25	TOPBUILD COR	—	89055F103	$6.0M	0.60%	14,000	SH
26	IRHYTHM HOLDINGS INC	IRTC	450056AB2	$5.5M	0.55%	5,000	PRN
27	MAKEMYTRIP LIMITED MAURITIUS	MMYT	56087FAD6	$4.6M	0.46%	5,000	PRN
28	BRIGHTHOUSE FINL INC	BHF	10922N103	$4.4M	0.44%	69,788	SH
29	KT CORP	KT	48268K101	$3.9M	0.40%	228,574	SH
30	ALPHABET INC Call	GOOGL	02079K305	$3.6M	0.36%	509	SH
31	UNIFIRST CORP MASS	UNF	904708104	$3.5M	0.35%	13,070	SH
32	PALANTIR TECHNOLOGIES INC Put	PLTR	69608A108	$3.3M	0.34%	670	SH
33	RENEW ENERGY GLOBAL PLC	RNW	G7500M104	$2.9M	0.29%	467,642	SH
34	JANUS HENDERSON GROUP PLC	JHG	G4474Y214	$2.8M	0.28%	54,254	SH
35	ZIM INTEGRATED SHIPPING SERV	ZIM	M9T951109	$2.7M	0.27%	103,084	SH
36	ZILLOW GROUP INC	Z	98954M200	$2.6M	0.27%	83,638	SH
37	CONOCOPHILLIPS	COP	20825C104	$2.5M	0.25%	23,818	SH
38	TRIP COM GROUP LTD	TRPCF	89677QAB3	$2.5M	0.25%	2,500	PRN
39	NIO INC	NIO	62914V106	$2.4M	0.24%	474,500	SH
40	CONOCOPHILLIPS Put	COP	20825C104	$2.4M	0.24%	1,000	SH
41	DIGITALBRIDGE GROUP INC	DBRG	25401T603	$2.3M	0.23%	147,100	SH
42	NASDAQ INC	NDAQ	631103108	$2.1M	0.21%	27,130	SH
43	ALPHABET INC	GOOG	02079K107	$2.0M	0.20%	8,020	SH
44	PALANTIR TECHNOLOGIES INC	PLTR	69608A108	$2.0M	0.20%	17,121	SH
45	NORTHWESTERN ENERGY GROUP IN	NWE	668074305	$2.0M	0.20%	27,497	SH
46	WARNER BROS DISCOVERY INC Put	WBD	934423104	$2.0M	0.20%	13,273	SH
47	VALARIS LTD	VAL	G9460G101	$1.9M	0.20%	26,854	SH
48	ZSCALER INC Put	ZS	98980G102	$1.9M	0.19%	250	SH
49	PDD HOLDINGS INC	PDD	722304102	$1.8M	0.18%	23,724	SH
50	NEXTERA ENERGY INC	NEE	65339F101	$1.8M	0.18%	20,343	SH

Filing History

Period	Filed	AUM	Holdings	Accession
2026-06-30	2026-08-07	$994.7M	170	0001569356-26-000005
2026-03-31	2026-05-13	$692.6M	249	0001569356-26-000003
2025-12-31	2026-02-10	$580.7M	120	0001569356-26-000001
2025-09-30	2025-11-13	$243.5M	76	0001569356-25-000004

Filer Information

Address

LEVEL 20, ONE IFC
1 HARBOUR VIEW STREET
CENTRAL, K3 HONG KONG

Phone

852 2105 5800

Filing Manager

NINE MASTS CAPITAL Ltd

CENTRAL, K3

Signatory

Irene Backenhorn

Chief Compliance Officer