MASTERS CAPITAL MANAGEMENT LLC
13F Reported Value
ⓘ$3.0B
incl. option notional
Equity Holdings
ⓘ$677.0M
Option Notional
ⓘ$2.3B
$66.5M puts / $2.3B calls
Holdings
85
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
MASTERS CAPITAL MANAGEMENT LLC disclosed 85 positions worth $3.0B in its Form 13F-HR for Q1 2026 — $677.0M in common stock plus $2.3B of put/call option positions (reported at underlying notional value, not premium at risk), followed by $C and $UPS. During the quarter the fund opened 33 new positions and exited 24 and a full exit from $HON. The portfolio is most concentrated in Industrials (31.2% 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 — Q1 2026
Click any card to unlockTop Holdings
ISHARES TR CALL
—Quality
$346.8M4,000,000 sh- 54.8#1,195
Quality
$226.8M2,000,000 sh - 58.2#998
Quality
$177.1M1,800,000 sh - 41.5
Quality
$132.4M3,000,000 sh - $125.5M1,000,000 sh
- $121.2M500,000 sh
- 58.7
Quality
$96.8M1,300,000 sh - 40.5
Quality
$82.7M1,100,000 sh - 64.4
Quality
$66.5M1,000,000 sh - 64.4
Quality
$66.5M1,000,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES TR CALL | — | $346.8M | 4,000,000 |
 CITIGROUP INC$CCALL | 54.8#1,195 | $226.8M | 2,000,000 |
 UNITED PARCEL SERVICE INC$UPSCALL | 58.2#998 | $177.1M | 1,800,000 |
 INTEL CORP$INTCCALL | 41.5 | $132.4M | 3,000,000 |
 Alibaba Group Holding Ltd$BABACALL | — | $125.5M | 1,000,000 |
 INTERNATIONAL BUSINESS MACHINES CORP$IBMCALL | 66.7 | $121.2M | 500,000 |
 General Motors Co$GMCALL | 58.7 | $96.8M | 1,300,000 |
 Wayfair Inc.$WCALL | 40.5 | $82.7M | 1,100,000 |
 DELTA AIR LINES, INC.$DALPUT | 64.4 | $66.5M | 1,000,000 |
| DELTA AIR LINES, INC.$DAL | 64.4 | $66.5M | 1,000,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of MASTERS CAPITAL MANAGEMENT LLC's 85 positions.
Showing top 10 of 85 holdings.
Sector Allocation
Industrials
$211.1M
Technology
$87.7M
Materials
$79.5M
Consumer Discretionary
$67.4M
Energy
$63.0M
Communication Services
$60.6M
Healthcare
$59.1M
Financials
$21.2M
Full Holdings — MASTERS CAPITAL MANAGEMENT LLC (Q1 2026)
All 85 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 | — | ISHARES TR | $346.8M | — | NEW | — |
| 2 | $CCALL | CITIGROUP INC | $226.8M | — | +186% | 54.8 |
| 3 | $UPSCALL | UNITED PARCEL SERVICE INC | $177.1M | — | -10% | 58.2 |
| 4 | $INTCCALL | INTEL CORP | $132.4M | — | +50% | 41.5 |
| 5 | $BABACALL | Alibaba Group Holding Ltd | $125.5M | — | +0% | — |
| 6 | $IBMCALL | INTERNATIONAL BUSINESS MACHINES CORP | $121.2M | — | +150% | 66.7 |
| 7 | $GMCALL | General Motors Co | $96.8M | — | -35% | 58.7 |
| 8 | $WCALL | Wayfair Inc. | $82.7M | — | NEW | 40.5 |
| 9 | $DALPUT | DELTA AIR LINES, INC. | $66.5M | — | NEW | 64.4 |
| 10 | $DAL | DELTA AIR LINES, INC. | $66.5M | 9.8% | +0% | 64.4 |
| 11 |  $BMYCALL | BRISTOL MYERS SQUIBB CO | $60.6M | — | NEW | 70.1 |
| 12 |  $APDCALL | Air Products & Chemicals, Inc. | $58.1M | — | NEW | 41.2 |
| 13 |  $ORACALL | ORMAT TECHNOLOGIES, INC. | $56.0M | — | NEW | 53.5 |
| 14 |  $BWACALL | BORGWARNER INC | $54.3M | — | +0% | 57.2 |
| 15 |  $ECLCALL | ECOLAB INC. | $53.2M | — | NEW | 64.3 |
| 16 |  $CLXCALL | CLOROX CO /DE/ | $51.8M | — | +58% | 63.5 |
| 17 |  $SLBCALL | SLB LIMITED/NV | $51.4M | — | -50% | 63.2 |
| 18 |  $MHK | MOHAWK INDUSTRIES INC | $49.2M | 7.3% | +25% | 56.8 |
| 19 | $UPS | UNITED PARCEL SERVICE INC | $49.2M | 7.3% | +67% | 58.2 |
| 20 |  $FCXCALL | FREEPORT-MCMORAN INC | $47.0M | — | +111% | 73.1 |
| 21 |  $YPFCALL | YPF SOCIEDAD ANONIMA | $46.2M | — | +61% | — |
| 22 |  $FLR | FLUOR CORP | $43.2M | 6.4% | -16% | 66.2 |
| 23 |  $ASTSCALL | AST SpaceMobile, Inc. | $41.4M | — | NEW | 29.6 |
| 24 | $ASTS | AST SpaceMobile, Inc. | $41.4M | 6.1% | +0% | 29.6 |
| 25 |  $BACALL | BOEING CO | $39.8M | — | -60% | 51.8 |
| 26 |  $NOV | NOV Inc. | $37.6M | 5.6% | +0% | 50.1 |
| 27 |  $ADMCALL | Archer-Daniels-Midland Co | $36.3M | — | NEW | 49.4 |
| 28 |  $CVSCALL | CVS HEALTH Corp | $35.9M | — | NEW | 51.3 |
| 29 |  $IONQCALL | IonQ, Inc. | $31.7M | — | NEW | 32.8 |
| 30 |  $BSXCALL | BOSTON SCIENTIFIC CORP | $31.4M | — | NEW | 79.9 |
| 31 | $MHKCALL | MOHAWK INDUSTRIES INC | $29.5M | — | NEW | 56.8 |
| 32 |  $FLYCALL | Firefly Aerospace Inc. | $28.5M | — | NEW | 46 |
| 33 |  $FITBCALL | FIFTH THIRD BANCORP | $27.9M | — | NEW | — |
| 34 |  $VYX | NCR Voyix Corp | $22.2M | 3.3% | +17% | 30.5 |
| 35 |  $BWAY | Brainsway Ltd. | $21.9M | 3.2% | +65% | — |
| 36 |  $BCSCALL | BARCLAYS PLC | $21.2M | — | NEW | — |
| 37 | $BCS | BARCLAYS PLC | $21.2M | 3.1% | +0% | — |
| 38 |  $DCH | Dauch Corp | $20.8M | 3.1% | +17% | 49.4 |
| 39 | $FLRCALL | FLUOR CORP | $20.1M | — | NEW | 66.2 |
| 40 |  $AACALL | Alcoa Corp | $19.9M | — | -40% | 66.2 |
| 41 |  $HRL | HORMEL FOODS CORP /DE/ | $19.3M | 2.8% | NEW | 58.4 |
| 42 |  $LION | Lionsgate Studios Corp. | $19.1M | 2.8% | -0% | 46.5 |
| 43 |  $FTK | FLOTEK INDUSTRIES INC/CN/ | $18.5M | 2.7% | +9% | 60.5 |
| 44 |  $REAL | TheRealReal, Inc. | $18.2M | 2.7% | +0% | 54.2 |
| 45 | $REALCALL | TheRealReal, Inc. | $18.2M | — | NEW | 54.2 |
| 46 |  $IPCALL | INTERNATIONAL PAPER CO /NEW/ | $17.9M | — | -50% | 52.1 |
| 47 |  $CLFCALL | CLEVELAND-CLIFFS INC. | $16.9M | — | +100% | 35.7 |
| 48 |  $NOK | NOKIA CORP | $16.1M | 2.4% | +0% | — |
| 49 |  $EMN | EASTMAN CHEMICAL CO | $15.3M | 2.3% | -33% | 49.4 |
| 50 |  $FSLYCALL | Fastly, Inc. | $14.5M | — | NEW | 40.2 |
| 51 |  $VGCALL | Venture Global, Inc. | $13.9M | — | NEW | 69 |
| 52 |  $MBLYCALL | Mobileye Global Inc. | $13.7M | — | NEW | 38.8 |
| 53 |  $HUN | Huntsman CORP | $13.3M | 2.0% | +0% | 40 |
| 54 |  $RIG | Transocean Ltd. | $13.3M | 2.0% | +100% | — |
| 55 |  $NXE | NexGen Energy Ltd. | $11.6M | 1.7% | -50% | — |
| 56 |  $BORR | Borr Drilling Ltd | $11.5M | 1.7% | -31% | — |
| 57 |  $DNLI | Denali Therapeutics Inc. | $11.5M | 1.7% | -40% | — |
| 58 |  $ENVX | Enovix Corp | $10.4M | 1.5% | +0% | 25.2 |
| 59 |  $BETA | BETA Technologies, Inc. | $10.3M | 1.5% | NEW | — |
| 60 | $CLF | CLEVELAND-CLIFFS INC. | $10.1M | 1.5% | +20% | 35.7 |
| 61 |  $PONYCALL | Pony AI Inc. | $9.4M | — | +33% | — |
| 62 | $PONY | Pony AI Inc. | $9.0M | 1.3% | -21% | — |
| 63 | $FSLY | Fastly, Inc. | $8.7M | 1.3% | NEW | 40.2 |
| 64 |  $AAOICALL | APPLIED OPTOELECTRONICS, INC. | $8.5M | — | NEW | 40.6 |
| 65 |  $TLS | TELOS CORP | $8.4M | 1.2% | -5% | 41.3 |
| 66 |  $GSM | Ferroglobe PLC | $8.2M | 1.2% | +0% | — |
| 67 |  $AOMD | Angel Oak Mortgage REIT, Inc. | $8.2M | 1.2% | +0% | — |
| 68 |  $EVTL | Vertical Aerospace Ltd. | $7.5M | 1.1% | +70% | — |
| 69 |  $ISOU | IsoEnergy Ltd. | $7.4M | 1.1% | NEW | — |
| 70 |  $RUN | Sunrun Inc. | $6.8M | 1.0% | NEW | 54.6 |
| 71 |  $LYFT | Lyft, Inc. | $6.7M | 1.0% | NEW | 63.1 |
| 72 | $LYFTCALL | Lyft, Inc. | $6.7M | — | -50% | 63.1 |
| 73 | $RIGCALL | Transocean Ltd. | $6.6M | — | -50% | — |
| 74 |  $MANE | Veradermics, Inc | $6.3M | 0.9% | NEW | — |
| 75 |  $IAG | IAMGOLD CORP | $5.6M | 0.8% | NEW | — |
| 76 | $ENVXCALL | Enovix Corp | $5.2M | — | NEW | 25.2 |
| 77 |  $EVEX | Eve Holding, Inc. | $5.0M | 0.7% | -5% | — |
| 78 |  $LUCD | Lucid Diagnostics Inc. | $4.6M | 0.7% | +0% | — |
| 79 |  $SENS | Senseonics Holdings, Inc. | $3.3M | 0.5% | +100% | 26.7 |
| 80 |  $ITRG | Integra Resources Corp. | $2.7M | 0.4% | NEW | — |
| 81 |  $PLUG | PLUG POWER INC | $2.3M | 0.3% | +0% | 18.8 |
| 82 |  $UP | Wheels Up Experience Inc. | $2.1M | 0.3% | -20% | 16.4 |
| 83 |  $STIM | Neuronetics, Inc. | $1.4M | 0.2% | +0% | 31.3 |
| 84 | $MBLY | Mobileye Global Inc. | $687,000 | 0.1% | NEW | 38.8 |
| 85 |  $NFE | New Fortress Energy Inc. | $590,000 | 0.1% | +0% | 17.3 |
New Positions (33)
$WCALL Wayfair Inc.$82.7M$DALPUT DELTA AIR LINES, INC.$66.5M$BMYCALL BRISTOL MYERS SQUIBB CO$60.6M$APDCALL Air Products & Chemicals, Inc.$58.1M$ORACALL ORMAT TECHNOLOGIES, INC.$56.0M$ECLCALL ECOLAB INC.$53.2M$ASTSCALL AST SpaceMobile, Inc.$41.4M$ADMCALL Archer-Daniels-Midland Co$36.3M$CVSCALL CVS HEALTH Corp$35.9M$IONQCALL IonQ, Inc.$31.7M$BSXCALL BOSTON SCIENTIFIC CORP$31.4M$MHKCALL MOHAWK INDUSTRIES INC$29.5M$FLYCALL Firefly Aerospace Inc.$28.5M$FITBCALL FIFTH THIRD BANCORP$27.9MExited Positions (24)
$HONCALL HONEYWELL INTERNATIONAL INC
$METCALL METLIFE INC$DALCALL DELTA AIR LINES, INC.$EMNCALL EASTMAN CHEMICAL CO
$GLWCALL CORNING INC /NY
$MRVLCALL Marvell Technology, Inc.
$NKECALL NIKE, Inc.
$FCALL FORD MOTOR CO
$PFECALL PFIZER INC
$APACALL APA Corp
$XOMCALL EXXON MOBIL CORP
$DOWCALL DOW INC.
$OLNCALL OLIN Corp
$CECALL Celanese Corp$HON HONEYWELL INTERNATIONAL INCBrowse Top Institutional Investors
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