MASTERS CAPITAL MANAGEMENT LLC
13F Reported Value
ⓘ$3.9B
incl. option notional
Equity Holdings
ⓘ$711.3M
Option Notional
ⓘ$3.2B
$807.4M puts / $2.4B calls
Holdings
80
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
MASTERS CAPITAL MANAGEMENT LLC disclosed 80 positions worth $3.9B in its Form 13F-HR for Q2 2026 — $711.3M in common stock plus $3.2B of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) puts, followed by $BA and $BABA. During the quarter the fund opened 20 new positions and exited 25 — including a new stake in $SPY and a full exit from $IBM. The portfolio is most concentrated in Industrials (33.9% of disclosed assets). All figures are sourced directly from MASTERS CAPITAL MANAGEMENT LLC’s Form 13F-HR filing with the SEC under CIK 1104186.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- —
Quality
$746.8M1,000,000 sh - 61.6#764
Quality
$216.5M1,000,000 sh - $192.0M2,000,000 sh
- 86.8
Quality
$186.8M2,000,000 sh - —
Quality
$161.8M1,300,000 sh - 54.3
Quality
$154.2M2,000,000 sh - 65.0
Quality
$140.0M1,000,000 sh - 45.6
Quality
$139.6M1,000,000 sh - 58.6
Quality
$107.5M1,000,000 sh - 63.4
Quality
$104.3M2,000,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 SPDR S&P 500 ETF TRUST$SPYPUT | — | $746.8M | 1,000,000 |
 BOEING CO$BACALL | 61.6#764 | $216.5M | 1,000,000 |
 Alibaba Group Holding Ltd$BABACALL | — | $192.0M | 2,000,000 |
 NEWMONT Corp /DE/$NEMCALL | 86.8 | $186.8M | 2,000,000 |
 Accenture plc$ACNCALL | — | $161.8M | 1,300,000 |
 General Motors Co$GMCALL | 54.3 | $154.2M | 2,000,000 |
 CITIGROUP INC$CCALL | 65.0 | $140.0M | 1,000,000 |
 INTEL CORP$INTCCALL | 45.6 | $139.6M | 1,000,000 |
 UNITED PARCEL SERVICE INC$UPSCALL | 58.6 | $107.5M | 1,000,000 |
 Alcoa Corp$AACALL | 63.4 | $104.3M | 2,000,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of MASTERS CAPITAL MANAGEMENT LLC's 80 positions.
Showing top 10 of 80 holdings.
Sector Allocation
Industrials
$241.1M
Materials
$98.0M
Technology
$81.5M
Communication Services
$75.0M
Energy
$68.1M
Healthcare
$57.0M
Consumer Discretionary
$29.8M
Financials
$26.9M
Full Holdings — MASTERS CAPITAL MANAGEMENT LLC (Q2 2026)
All 80 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SPYPUT | SPDR S&P 500 ETF TRUST | $746.8M | — | NEW | — |
| 2 | $BACALL | BOEING CO | $216.5M | — | +400% | 61.6 |
| 3 | $BABACALL | Alibaba Group Holding Ltd | $192.0M | — | +100% | — |
| 4 | $NEMCALL | NEWMONT Corp /DE/ | $186.8M | — | NEW | 86.8 |
| 5 | $ACNCALL | Accenture plc | $161.8M | — | NEW | — |
| 6 | $GMCALL | General Motors Co | $154.2M | — | +54% | 54.3 |
| 7 | $CCALL | CITIGROUP INC | $140.0M | — | -50% | 65 |
| 8 | $INTCCALL | INTEL CORP | $139.6M | — | -67% | 45.6 |
| 9 | $UPSCALL | UNITED PARCEL SERVICE INC | $107.5M | — | -44% | 58.6 |
| 10 | $AACALL | Alcoa Corp | $104.3M | — | +567% | 63.4 |
| 11 |  $CLXCALL | CLOROX CO /DE/ | $95.4M | — | +100% | 54.1 |
| 12 |  $DAL | DELTA AIR LINES, INC. | $93.7M | 13.2% | +0% | 57.5 |
| 13 |  $SLBCALL | SLB LIMITED/NV | $93.0M | — | +100% | 57.9 |
| 14 | — | ISHARES TR - 20 YR TR BD ETF | $86.4M | — | -75% | — |
| 15 |  $UBERCALL | Uber Technologies, Inc | $72.2M | — | NEW | 73.5 |
| 16 |  $EMNCALL | EASTMAN CHEMICAL CO | $67.0M | — | NEW | 49.8 |
| 17 |  $FCXCALL | FREEPORT-MCMORAN INC | $62.9M | — | +25% | 62 |
| 18 |  $BMYCALL | BRISTOL MYERS SQUIBB CO | $57.6M | — | +0% | 70.4 |
| 19 |  $FLRCALL | FLUOR CORP | $52.4M | — | +133% | 47.6 |
| 20 | $FLR | FLUOR CORP | $52.4M | 7.4% | +8% | 47.6 |
| 21 |  $CVSCALL | CVS HEALTH Corp | $51.7M | — | +0% | 59.4 |
| 22 |  $NOWCALL | ServiceNow, Inc. | $49.6M | — | NEW | 72.9 |
| 23 | $DALPUT | DELTA AIR LINES, INC. | $46.8M | — | -50% | 57.5 |
| 24 |  $ASTS | AST SpaceMobile, Inc. | $44.4M | 6.3% | +0% | 30.8 |
| 25 |  $IONQCALL | IonQ, Inc. | $42.6M | — | -27% | 30.2 |
| 26 |  $NOV | NOV Inc. | $40.8M | 5.7% | +10% | 47.8 |
| 27 |  $ARCALL | ANTERO RESOURCES Corp | $35.1M | — | NEW | 75.4 |
| 28 |  $VYX | NCR Voyix Corp | $32.7M | 4.6% | +14% | 41.5 |
| 29 | $UPS | UNITED PARCEL SERVICE INC | $32.3M | 4.5% | -40% | 58.6 |
| 30 |  $LION | Lionsgate Studios Corp. | $30.5M | 4.3% | +0% | 43.4 |
| 31 |  $MBLYCALL | Mobileye Global Inc. | $29.0M | — | +50% | 33.8 |
| 32 |  $CLFCALL | CLEVELAND-CLIFFS INC. | $28.2M | — | +50% | 38.3 |
| 33 |  $BCS | BARCLAYS PLC | $26.9M | 3.8% | +0% | — |
| 34 | $EMN | EASTMAN CHEMICAL CO | $26.8M | 3.8% | +100% | 49.8 |
| 35 |  $HRL | HORMEL FOODS CORP /DE/ | $24.8M | 3.5% | +18% | 51.8 |
| 36 |  $FTK | FLOTEK INDUSTRIES INC/CN/ | $23.5M | 3.3% | -8% | 58.7 |
| 37 |  $BWAY | Brainsway Ltd. | $23.3M | 3.3% | -9% | — |
| 38 |  $BBWICALL | Bath & Body Works, Inc. | $23.1M | — | NEW | 69.4 |
| 39 |  $YPFCALL | YPF SOCIEDAD ANONIMA | $22.7M | — | -50% | — |
| 40 |  $IPCALL | INTERNATIONAL PAPER CO /NEW/ | $19.1M | — | +0% | 52.1 |
| 41 |  $REAL | TheRealReal, Inc. | $17.7M | 2.5% | -25% | 36.8 |
| 42 |  $BETA | BETA Technologies, Inc. | $17.2M | 2.4% | +47% | 28.9 |
| 43 |  $ONDSCALL | Ondas Inc. | $16.5M | — | NEW | 56.4 |
| 44 |  $DCH | Dauch Corp | $16.3M | 2.3% | -14% | 49.5 |
| 45 |  $RKTCALL | Rocket Companies, Inc. | $15.8M | — | NEW | 74.2 |
| 46 |  $TEX | TEREX CORP | $14.5M | 2.0% | NEW | 58.6 |
| 47 |  $CEPUT | Celanese Corp | $13.8M | — | NEW | 42.6 |
| 48 | $CE | Celanese Corp | $13.8M | 1.9% | NEW | 42.6 |
| 49 |  $RUNCALL | Sunrun Inc. | $13.4M | — | NEW | 56.3 |
| 50 |  $NUCALL | Nu Holdings Ltd. | $13.4M | — | NEW | — |
| 51 |  $MANE | Veradermics, Inc | $12.3M | 1.7% | +0% | — |
| 52 |  $ENVX | Enovix Corp | $12.1M | 1.7% | +0% | 26.5 |
| 53 |  $MHK | MOHAWK INDUSTRIES INC | $12.1M | 1.7% | -80% | 52.3 |
| 54 |  $BSX | BOSTON SCIENTIFIC CORP | $10.7M | 1.5% | NEW | 77.5 |
| 55 |  $ALM | Almonty Industries Inc. | $9.9M | 1.4% | NEW | — |
| 56 |  $RIG | Transocean Ltd. | $9.8M | 1.4% | +0% | — |
| 57 |  $TLS | TELOS CORP | $9.7M | 1.4% | +5% | 50.5 |
| 58 |  $NXE | NexGen Energy Ltd. | $9.4M | 1.3% | +0% | — |
| 59 | $SLB | SLB LIMITED/NV | $9.3M | 1.3% | NEW | 57.9 |
| 60 |  $WCALL | Wayfair Inc. | $9.2M | — | -91% | 43.8 |
| 61 |  $AOMD | Angel Oak Mortgage REIT, Inc. | $9.1M | 1.3% | +0% | — |
| 62 |  $BORR | Borr Drilling Ltd | $8.3M | 1.2% | +0% | — |
| 63 |  $EVTL | Vertical Aerospace Ltd. | $7.1M | 1.0% | +21% | — |
| 64 |  $EOSE | Eos Energy Enterprises, Inc. | $7.1M | 1.0% | NEW | 34.9 |
| 65 |  $PONYCALL | Pony AI Inc. | $7.0M | — | +0% | — |
| 66 | $RUN | Sunrun Inc. | $6.7M | 0.9% | +0% | 56.3 |
| 67 | $PONY | Pony AI Inc. | $6.6M | 0.9% | +0% | — |
| 68 |  $GSM | Ferroglobe PLC | $6.4M | 0.9% | +0% | — |
| 69 | $ENVXCALL | Enovix Corp | $6.1M | — | +0% | 26.5 |
| 70 |  $ISOU | IsoEnergy Ltd. | $6.0M | 0.8% | -14% | — |
| 71 |  $DNLI | Denali Therapeutics Inc. | $5.1M | 0.7% | -67% | — |
| 72 |  $EVEX | Eve Holding, Inc. | $5.0M | 0.7% | +0% | — |
| 73 | $RIGCALL | Transocean Ltd. | $4.9M | — | +0% | — |
| 74 |  $LUCD | Lucid Diagnostics Inc. | $4.3M | 0.6% | +0% | — |
| 75 |  $SENS | Senseonics Holdings, Inc. | $4.0M | 0.6% | +40% | 27.7 |
| 76 |  $PLUG | PLUG POWER INC | $2.7M | 0.4% | +0% | 25.2 |
| 77 |  $UP | Wheels Up Experience Inc. | $2.7M | 0.4% | -93% | 19.5 |
| 78 |  $ITRG | Integra Resources Corp. | $2.3M | 0.3% | +0% | — |
| 79 |  $STIM | Neuronetics, Inc. | $1.3M | 0.2% | +0% | 36.9 |
| 80 | $VYXCALL | NCR Voyix Corp | $1.2M | — | NEW | 41.5 |
New Positions (20)
$SPYPUT SPDR S&P 500 ETF TRUST$746.8M$NEMCALL NEWMONT Corp /DE/$186.8M$ACNCALL Accenture plc$161.8M$UBERCALL Uber Technologies, Inc$72.2M$EMNCALL EASTMAN CHEMICAL CO$67.0M$NOWCALL ServiceNow, Inc.$49.6M$ARCALL ANTERO RESOURCES Corp$35.1M$BBWICALL Bath & Body Works, Inc.$23.1M$ONDSCALL Ondas Inc.$16.5M$RKTCALL Rocket Companies, Inc.$15.8M$TEX TEREX CORP$14.5M$CEPUT Celanese Corp$13.8M$CE Celanese Corp$13.8M$RUNCALL Sunrun Inc.$13.4M$NUCALL Nu Holdings Ltd.$13.4MExited Positions (25)
$IBMCALL INTERNATIONAL BUSINESS MACHINES CORP
$APDCALL Air Products & Chemicals, Inc.
$ORACALL ORMAT TECHNOLOGIES, INC.
$BWACALL BORGWARNER INC
$ECLCALL ECOLAB INC.$ASTSCALL AST SpaceMobile, Inc.
$ADMCALL Archer-Daniels-Midland Co$BSXCALL BOSTON SCIENTIFIC CORP$MHKCALL MOHAWK INDUSTRIES INC
$FLYCALL Firefly Aerospace Inc.
$FITBCALL FIFTH THIRD BANCORP$BCSCALL BARCLAYS PLC$REALCALL TheRealReal, Inc.
$NOK NOKIA CORP
$FSLYCALL Fastly, Inc.Browse Top Institutional Investors
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