Fund HoldingsMASTERS CAPITAL MANAGEMENT LLC

Total Portfolio Value
$2.45B
Total Bought
$1.07B
Total Sold
$1.44B
Net Transaction
-$377.09M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
ALIBABA GROUP HLDG LTD(BABA)(Call)100,0001,000,000+900,00017,873146,580+128,707
UNITED PARCEL SERVICE INC(UPS)(Call)1,000,0002,000,000+1,000,00083,530198,380+114,850
BOEING CO(BA)(Call)0500,000+500,0000108,560+108,560
GENERAL MTRS CO(GM)(Call)1,000,0002,000,000+1,000,00060,970162,640+101,670
HONEYWELL INTL INC(HON)(Call)0500,000+500,000097,545+97,545
METLIFE INC(MET)(Call)01,000,000+1,000,000078,940+78,940
MARVELL TECHNOLOGY INC(MRVL)(Call)0500,000+500,000042,490+42,490
INTERNATIONAL PAPER CO(IP)(Call)01,000,000+1,000,000039,390+39,390
NIKE INC(NKE)(Call)0500,000+500,000031,855+31,855
CLOROX CO DEL(CLX)(Call)0315,500+315,500031,812+31,812
MOHAWK INDS INC(MHK)100,000400,000+300,00012,89243,7201.78%+30,828
APA CORPORATION(APA)(Call)01,000,000+1,000,000024,460+24,460
YPF SOCIEDAD ANONIMA(YPF)(Call)0620,000+620,000022,419+22,419
THE REALREAL INC(REAL)1,000,0002,000,000+1,000,00010,63031,5601.29%+20,930
CELANESE CORP DEL(CE)(Call)0469,200+469,200019,838+19,838
HONEYWELL INTL INC(HON)0100,000+100,000019,5090.80%+19,509
LYFT INC(LYFT)(Call)01,000,000+1,000,000019,370+19,370
CLEVELAND-CLIFFS INC NEW(CLF)(Call)01,000,000+1,000,000013,280+13,280
NOKIA CORP(NOK)02,000,000+2,000,000012,9400.53%+12,940
DELTA AIR LINES INC DEL(DAL)1,000,0001,000,000056,75069,4002.83%+12,650
DELTA AIR LINES INC DEL(DAL)(Call)1,000,0001,000,000056,75069,400+12,650
AMERICAN AXLE & MFG HLDGS IN1,200,0003,000,000+1,800,0007,21219,2300.78%+12,018
AST SPACEMOBILE INC(ASTS)500,000500,000024,54036,3151.48%+11,775
ALLIED GOLD CORP(AAUC)0500,000+500,000011,4400.47%+11,440
PONY AI INC(PONY)(Call)0750,000+750,000010,875+10,875
VERTICAL AEROSPACE LTD02,000,000+2,000,000010,6600.43%+10,660
HUNTSMAN CORP(HUN)01,000,000+1,000,000010,0000.41%+10,000
OLIN CORP(OLN)(Call)500,0001,000,000+500,00012,49520,830+8,335
SLB LIMITED(SLB)(Call)2,000,0002,000,000068,74076,760+8,020
BRISTOL-MYERS SQUIBB CO(BMY)200,000300,000+100,0009,02016,1820.66%+7,162
INTEL CORP(INTC)(Call)2,000,0002,000,000067,10073,800+6,700
DENALI THERAPEUTICS INC(DNLI)750,0001,000,000+250,00010,89016,5100.67%+5,620
DOW INC(DOW)500,000700,000+200,00011,46516,3660.67%+4,901
BARCLAYS PLC1,000,0001,000,000020,67025,4501.04%+4,780
NOV INC(NOV)2,000,0002,000,000026,50031,2601.28%+4,760
UNITED PARCEL SERVICE INC(UPS)300,000300,000025,05929,7571.21%+4,698
CELSIUS HLDGS INC(CELH)0100,000+100,00004,5740.19%+4,574
LIONSGATE STUDIOS CORP(LION)2,000,0002,000,000013,80018,2600.74%+4,460
CELANESE CORP DEL(CE)100,000200,000+100,0004,2088,4560.34%+4,248
NCR VOYIX CORPORATION2,100,0003,000,000+900,00026,35530,6001.25%+4,245
BRAINSWAY LTD1,000,0001,000,000015,07019,0200.78%+3,950
BORR DRILLING LTD(BORR)3,000,0002,900,000-100,0008,07011,6870.48%+3,617
FLOTEK INDS INC DEL(FTK)1,000,0001,000,000014,60017,2300.70%+2,630
FORD MTR CO(F)(Call)2,000,0002,000,000023,92026,240+2,320
TRANSOCEAN LTD(RIG)(Call)2,000,0002,000,00006,2408,260+2,020
FLUOR CORP NEW(FLR)1,000,0001,100,000+100,00042,07043,5931.78%+1,523
WHEELS UP EXPERIENCE INC1,000,0005,000,000+4,000,0001,8403,2820.13%+1,442
SENSEONICS HLDGS INC0249,998+249,99801,3800.06%+1,380
BORGWARNER INC(Call)1,000,0001,000,000043,96045,060+1,100
GREEN PLAINS INC(GPRE)1,000,0001,000,00008,7909,8000.40%+1,010
TRANSOCEAN LTD(RIG)1,000,0001,000,00003,1204,1300.17%+1,010
OLIN CORP(OLN)550,000700,000+150,00013,74514,5810.59%+837
EASTMAN CHEM CO(EMN)(Call)800,000800,000050,44051,064+624
NEXGEN ENERGY LTD(NXE)2,000,0002,000,000017,90018,4000.75%+500
DOW INC(DOW)(Call)1,000,0001,000,000022,93023,380+450
LUCID DIAGNOSTICS INC3,999,2734,000,000+7274,0394,3600.18%+321
FERROGLOBE PLC(GSM)2,000,0002,000,00009,1009,2800.38%+180
VERTICAL AEROSPACE LTD(Call)1,000,0001,000,00005,1905,330+140
PLUG POWER INC(PLUG)1,000,0001,000,00002,3301,9700.08%-360
PFIZER INC(PFE)(Call)1,000,0001,000,000025,48024,900-580
ANGEL OAK MORTGAGE REIT INC(AOMD)1,000,0001,000,00009,3708,6100.35%-760
NEW FORTRESS ENERGY INC1,000,0001,000,00002,2101,1400.05%-1,070
NEURONETICS INC1,000,0001,000,00002,7301,3800.06%-1,350
ARCHER AVIATION INC(ACHR)999,700999,600-1009,5777,5170.31%-2,060
SENSEONICS HLDGS INC5,000,0000-5,000,0002,1790-2,179
TELOS CORP MD2,000,0002,100,000+100,00013,68010,7100.44%-2,970
EVE HLDG INC(EVEX)3,050,0002,100,000-950,00011,6218,3790.34%-3,241
PONY AI INC(PONY)1,000,0001,200,000+200,00022,49017,4000.71%-5,090
ENOVIX CORPORATION(ENVX)2,000,0002,000,000019,94014,6200.60%-5,320
DAQO NEW ENERGY CORP(DQ)200,0000-200,0005,6260-5,626
HERTZ GLOBAL HLDGS INC(Call)1,000,0000-1,000,0006,8000-6,800
EXXON MOBIL CORP(Call)300,000200,000-100,00033,82524,068-9,757
THE REALREAL INC(REAL)(Call)1,000,0000-1,000,00010,6300-10,630
CALIFORNIA RES CORP(CRC)200,0000-200,00010,6360-10,636
VALE S A1,000,0000-1,000,00010,8600-10,860
CLEVELAND-CLIFFS INC NEW(CLF)2,000,0001,000,000-1,000,00024,40013,2800.54%-11,120
EASTMAN CHEM CO(EMN)500,000300,000-200,00031,52519,1490.78%-12,376
PETROLEO BRASILEIRO SA PETRO(PBR)1,000,0000-1,000,00012,6600-12,660
NOV INC(NOV)(Call)1,000,0000-1,000,00013,2500-13,250
V F CORP(VFC)1,000,0000-1,000,00014,4300-14,430
V F CORP(VFC)(Call)1,000,0000-1,000,00014,4300-14,430
SUNRUN INC(RUN)(Call)1,000,0000-1,000,00017,2900-17,290
ARCHER DANIELS MIDLAND CO300,0000-300,00017,9220-17,922
CITIGROUP INC(C)(Call)0700,000+700,000081,683+81,683
FREEPORT-MCMORAN INC(FCX)(Call)1,000,000379,900-620,10039,22019,295-19,925
HALLIBURTON CO(HAL)(Call)1,000,0000-1,000,00024,6000-24,600
MOHAWK INDS INC(MHK)(Call)200,0000-200,00025,7840-25,784
FLUOR CORP NEW(FLR)(Call)700,0000-700,00029,4490-29,449
EASTMAN CHEM CO(EMN)(Put)500,0000-500,00031,5250-31,525
CORNING INC(GLW)(Call)1,000,100500,000-500,10082,03843,780-38,258
ALCOA CORP(AA)(Call)2,000,000500,000-1,500,00065,78026,570-39,210
NUCOR CORP(NUE)(Call)300,0000-300,00040,6290-40,629
ARCHER DANIELS MIDLAND CO(Call)700,0000-700,00041,8180-41,818
BRISTOL-MYERS SQUIBB CO(BMY)(Call)1,000,0000-1,000,00045,1000-45,100
SPDR SERIES TRUST(Call)
ST STR SP BIOT
500,0000-500,00050,1000-50,100
INTERNATIONAL BUSINESS MACHS(IBM)(Call)500,000200,000-300,000141,08059,242-81,838
GILEAD SCIENCES INC(GILD)(Call)1,000,0000-1,000,000111,0000-111,000
SPDR S&P 500 ETF TR(SPY)(Put)1,000,0000-1,000,000666,1800-666,180
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