Masters Capital Management’s International Paper IP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$17.9M	Sell	500,000 -500,000	-50%	-$20.8M	2.64%	46
2025 Q4	$39.4M	Buy	+1,000,000	New	+$41.1M	5.45%	19
2025 Q1	–	Sell	-1,000,000	Closed	-$53.8M	–	96
2024 Q4	$53.8M	Hold	1,000,000	–	–	9.18%	15
2024 Q3	$48.9M	Buy	1,000,000 +143,700	+17%	+$6.7M	9.39%	9
2024 Q2	$36.9M	Buy	+856,300	New	+$34.8M	6.62%	13
2024 Q1	–	Sell	-1,000,000	Closed	-$36.1M	–	87
2023 Q4	$36.1M	Buy	+1,000,000	New	+$34.9M	6.35%	16
2016 Q2	–	Sell	-528,000	Closed	-$20.5M	–	83
2016 Q1	$20.5M	Buy	+528,000	New	+$18.4M	3.46%	40
2015 Q4	–	Sell	-1,974,403	Closed	-$70.7M	–	83
2015 Q3	$70.7M	Sell	1,974,403 -1,119,994	-36%	-$47.5M	17.28%	12
2015 Q2	$139M	Buy	3,094,397 +2,038,397	+193%	+$101M	33.27%	5
2015 Q1	$55.5M	Buy	+1,056,000	New	+$54.8M	11.33%	18