MASTERS CAPITAL MANAGEMENT LLC
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T OPT | SPY | $746.8M | options only | - | new | OPTIONS | |
| BOEING CO OPT | BA | $216.5M | options only | +4.24pp | 3q | OPTIONS | |
| ALIBABA GROUP HLDG LTD OPT | BABA | $192.0M | options only | +0.78pp | 4q | OPTIONS | |
| NEWMONT CORP OPT | NEM | $186.8M | options only | - | new | OPTIONS | |
| ACCENTURE PLC IRELAND OPT | ACN | $161.8M | options only | - | new | OPTIONS | |
| GENERAL MTRS CO OPT | GM | $154.2M | options only | +0.76pp | 4q | OPTIONS | |
| DELTA AIR LINES INC OPT | DAL | $140.5M | 1,000,000 | -0.79pp | 31q | HELD | |
| CITIGROUP INC OPT | C | $140.0M | options only | -3.90pp | 25q | OPTIONS | |
| UNITED PARCEL SVCS INC OPT | UPS | $139.8M | 300,000 | -3.89pp | 6q | -40.0%-$93.2M | |
| INTEL CORP OPT | INTC | $139.6M | options only | -0.79pp | 14q | OPTIONS | |
| FLUOR CORP OPT | FLR | $104.8M | 1,000,000 | +0.60pp | 20q | +8.1%+$7.9M | |
| ALCOA CORP OPT | AA | $104.3M | options only | +2.02pp | 27q | OPTIONS | |
| SLB LIMITED OPT | SLB | $102.3M | 200,000 | +0.93pp | 7q | HELD | |
| CLOROX CO DEL OPT | CLX | $95.4M | options only | +0.74pp | 3q | OPTIONS | |
| EASTMAN CHEM CO OPT | EMN | $93.8M | 400,000 | +1.90pp | 6q | +100.0%+$46.9M | |
| ISHARES TR OPT | TLT | $86.4M | options only | -9.24pp | 2q | OPTIONS | |
| UBER TECHNOLOGIES INC OPT | UBER | $72.2M | options only | - | new | OPTIONS | |
| FREEPORT-MCMORAN INC OPT | FCX | $62.9M | options only | +0.06pp | 10q | OPTIONS | |
| BRISTOL-MYERS SQUIBB CO OPT | BMY | $57.6M | options only | -0.53pp | 7q | OPTIONS | |
| CVS HEALTH CORP OPT | CVS | $51.7M | options only | +0.14pp | 2q | OPTIONS | |
| SERVICENOW INC OPT | NOW | $49.6M | options only | - | new | OPTIONS | |
| AST SPACEMOBILE INC | ASTS | $44.4M | 500,000 | -1.60pp | 10q | HELD | |
| IONQ INC OPT | IONQ | $42.6M | options only | +0.05pp | 2q | OPTIONS | |
| NOV INC | NOV | $40.8M | 2,200,000 | -0.20pp | 22q | +10.0%+$3.7M | |
| ANTERO RESOURCES CORP OPT | AR | $35.1M | options only | - | new | OPTIONS | |
| NCR VOYIX CORPORATION OPT | VYX | $33.9M | 4,000,000 | +0.14pp | 6q | +14.3%+$4.2M | |
| LIONSGATE STUDIOS CORP | LION | $30.5M | 1,994,814 | +0.15pp | 5q | HELD | |
| MOBILEYE GLOBAL INC OPT | MBLY | $29.0M | options only | +0.27pp | 2q | OPTIONS | |
| CLEVELAND-CLIFFS INC NEW OPT | CLF | $28.2M | options only | -0.17pp | 29q | OPTIONS | |
| CELANESE CORP DEL OPT | CE | $27.6M | 300,000 | - | new | NEW | |
| BARCLAYS PLC | BCS | $26.9M | 1,000,000 | -0.71pp | 27q | HELD | |
| HORMEL FOODS CORP | HRL | $24.8M | 1,000,000 | flat | 2q | +17.6%+$3.7M | |
| FLOTEK INDUSTRIES INC | FTK | $23.5M | 1,000,000 | -0.01pp | 12q | -8.2%-$2.1M | |
| BRAINSWAY LTD | BWAY | $23.3M | 1,500,000 | -0.13pp | 22q | -9.1%-$2.3M | |
| BATH & BODY WORKS INC OPT | BBWI | $23.1M | options only | - | new | OPTIONS | |
| YPF SOCIEDAD ANONIMA OPT | YPF | $22.7M | options only | -0.94pp | 3q | OPTIONS | |
| SUNRUN INC OPT | RUN | $20.1M | 500,000 | +0.29pp | 2q | HELD | |
| INTERNATIONAL PAPER CO OPT | IP | $19.1M | options only | -0.10pp | 3q | OPTIONS | |
| ENOVIX CORPORATION OPT | ENVX | $18.2M | 2,000,000 | -0.05pp | 14q | HELD | |
| THE REALREAL INC | REAL | $17.7M | 1,500,000 | -0.75pp | 4q | -25.0%-$5.9M | |
| BETA TECHNOLOGIES INC | BETA | $17.2M | 1,028,200 | +0.10pp | 2q | +46.9%+$5.5M | |
| ONDAS INC OPT | ONDS | $16.5M | options only | - | new | OPTIONS | |
| DAUCH CORP | DCH | $16.3M | 3,000,000 | -0.27pp | 4q | -14.3%-$2.7M | |
| ROCKET COS INC OPT | RKT | $15.8M | options only | - | new | OPTIONS | |
| TRANSOCEAN LTD OPT | RIG | $14.7M | 2,000,000 | -0.28pp | 4q | HELD | |
| TEREX CORP NEW | TEX | $14.5M | 200,000 | - | new | NEW | |
| PONY AI INC OPT | PONY | $13.6M | 950,000 | -0.26pp | 7q | HELD | |
| NU HLDGS LTD OPT | NU | $13.4M | options only | - | new | OPTIONS | |
| VERADERMICS INC | MANE | $12.3M | 100,000 | +0.11pp | 2q | HELD | |
| MOHAWK INDS INC | MHK | $12.1M | 100,000 | -2.29pp | 5q | -80.0%-$48.5M | |
| BOSTON SCIENTIFIC CORP | BSX | $10.7M | 250,000 | -0.76pp | 2q | HELD | |
| ALMONTY INDS INC | ALM | $9.9M | 600,000 | - | new | NEW | |
| TELOS CORP MD | TLS | $9.7M | 2,100,000 | -0.03pp | 21q | +5.0%+$460.0K | |
| NEXGEN ENERGY LTD | NXE | $9.4M | 1,000,000 | -0.14pp | 12q | HELD | |
| WAYFAIR INC OPT | W | $9.2M | options only | -2.50pp | 2q | OPTIONS | |
| ANGEL OAK MORTGAGE REIT INC | AOMR | $9.1M | 1,000,000 | -0.04pp | 21q | HELD | |
| BORR DRILLING LTD | BORR | $8.3M | 2,000,000 | -0.17pp | 6q | HELD | |
| VERTICAL AEROSPACE LTD | EVTL | $7.1M | 4,100,000 | -0.07pp | 4q | +20.6%+$1.2M | |
| EOS ENERGY ENTERPRISES INC | EOSE | $7.1M | 1,200,000 | - | new | NEW | |
| FERROGLOBE PLC | GSM | $6.4M | 2,000,000 | -0.11pp | 23q | HELD | |
| ISOENERGY LTD | ISOU | $6.0M | 600,000 | -0.09pp | 2q | -14.3%-$997.0K | |
| DENALI THERAPEUTICS INC | DNLI | $5.1M | 200,000 | -0.25pp | 5q | -66.7%-$10.3M | |
| EVE HLDG INC | EVEX | $5.0M | 2,000,000 | -0.04pp | 8q | HELD | |
| LUCID DIAGNOSTICS INC | LUCD | $4.3M | 4,000,000 | -0.04pp | 6q | HELD | |
| SENSEONICS HLDGS INC | SENS | $4.0M | 700,000 | -0.01pp | 3q | +40.0%+$1.1M | |
| PLUG PWR INC | PLUG | $2.7M | 1,000,000 | -0.01pp | 5q | HELD | |
| WHEELS UP EXPERIENCE INC | $2.7M | 300,000 | - | new | NEW | ||
| INTEGRA RES CORP | ITRG | $2.3M | 1,000,000 | -0.03pp | 2q | HELD | |
| NEURONETICS INC | STIM | $1.3M | 1,000,000 | -0.01pp | 8q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Funds & ETFs | $746.8M | 19.2% |
| Business Services | $425.9M | 10.9% |
| Autos & Aerospace | $416.3M | 10.7% |
| Mining & Metals | $416.1M | 10.7% |
| Transport & Logistics | $280.2M | 7.2% |
| Chemicals | $240.3M | 6.2% |
| Semiconductors & Electronics | $204.2M | 5.2% |
| Banks & Lending | $195.9M | 5.0% |
| Energy | $183.1M | 4.7% |
| Software & IT Services | $144.5M | 3.7% |
| Construction & Building | $104.8M | 2.7% |
| Biotech & Pharma | $75.1M | 1.9% |
| Other sectors | $374.5M | 9.6% |
| Not classified | $89.1M | 2.3% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $3.9B | 69 | 15 | 9 | 10 | 17 | 56.9% | 45 |
| Q1 2026 | $3.0B | 71 | 22 | 10 | 10 | 16 | 52.0% | 45 |
| Q4 2025 | $2.5B | 65 | 15 | 13 | 4 | 14 | 49.5% | 48 |
| Q3 2025 | $2.8B | 64 | 23 | 8 | 2 | 23 | 57.2% | 45 |
| Q2 2025 | $2.6B | 64 | 19 | 9 | 12 | 13 | 57.4% | 45 |
| Q1 2025 | $2.0B | 58 | 16 | 7 | 13 | 21 | 54.4% | 45 |
| Q4 2024 | $2.7B | 63 | 21 | 11 | 8 | 14 | 50.3% | 45 |
| Q3 2024 | $2.1B | 56 | 16 | 10 | 11 | 14 | 61.7% | 45 |
| Q2 2024 | $1.8B | 54 | 10 | 10 | 20 | 14 | 55.2% | 45 |
| Q1 2024 | $2.8B | 58 | 14 | 6 | 9 | 4 | 60.1% | 45 |
| Q4 2023 | $2.4B | 48 | 10 | 15 | 8 | 13 | 66.1% | 45 |
| Q3 2023 | $1.8B | 51 | 13 | 6 | 9 | 14 | 54.3% | 45 |
| Q2 2023 | $2.5B | 52 | 16 | 9 | 2 | 13 | 59.1% | 45 |
| Q1 2023 | $2.0B | 49 | 18 | 9 | 4 | 12 | 58.2% | 45 |
| Q4 2022 | $1.3B | 43 | 13 | 10 | 4 | 7 | 54.6% | 45 |
| Q3 2022 | $1.4B | 37 | 5 | 4 | 11 | 10 | 72.4% | 45 |
| Q2 2022 | $2.1B | 42 | 3 | 10 | 8 | 10 | 66.0% | 46 |
| Q1 2022 | $2.5B | 49 | 10 | 12 | 10 | 13 | 56.3% | 46 |
| Q4 2021 | $2.5B | 52 | 8 | 13 | 7 | 15 | 51.3% | 45 |
| Q3 2021 | $2.4B | 59 | 16 | 12 | 10 | 11 | 51.7% | 46 |
| Q2 2021 | $3.4B | 54 | 14 | 6 | 8 | 7 | 62.5% | 47 |
| Q1 2021 | $3.0B | 47 | 22 | 6 | 4 | 23 | 67.9% | 47 |
| Q4 2020 | $1.7B | 48 | 17 | 3 | 9 | 12 | 54.3% | 47 |
| Q3 2020 | $1.5B | 43 | 16 | 6 | 7 | 12 | 59.7% | 47 |
| Q2 2020 | $885.1M | 39 | 10 | 8 | 8 | 15 | 52.5% | 45 |
| Q1 2020 | $861.4M | 44 | 21 | 10 | 6 | 19 | 61.5% | 45 |
| Q4 2019 | $1.8B | 42 | 17 | 4 | 15 | 24 | 67.0% | 45 |
| Q3 2019 | $1.7B | 49 | 18 | 2 | 14 | 17 | 54.0% | 45 |
| Q2 2019 | $2.0B | 48 | 19 | 5 | 10 | 18 | 57.8% | 45 |
| Q1 2019 | $1.9B | 47 | 18 | 4 | 12 | 11 | 59.3% | 45 |
| Q4 2018 | $1.8B | 40 | 0 | 0 | 0 | 0 | 60.8% | 43 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.