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MCM

Masters Capital Management Portfolio holdings

AUM $3.03B
1-Year Est. Return 57.21%
This Fund
S&P 500
This Quarter Est. Return
+9.54%
1 Year Est. Return
+57.21%
3 Year Est. Return
+118.82%
5 Year Est. Return
+120.72%
10 Year Est. Return
+600.65%
AUM
$2.45B
AUM Growth
-$309M
Cap. Flow
-$463M
Cap. Flow %
-18.9%
Top 10 Hldgs %
44.64%
Holding
97
New
19
Increased
18
Reduced
12
Closed
21

Top Buys

Rank Stock Value
1
MHK icon
Mohawk Industries
MHK
+$34.5M
2
HON icon
Honeywell
HON
+$19.6M
3
REAL icon
The RealReal
REAL
+$13.1M
4
NOK icon
Nokia
NOK
+$12.4M
5
DCH
Dauch Corp
DCH
+$11.2M

Top Sells

Rank Stock Value
1
ADM icon
Archer Daniels Midland
ADM
+$17.9M
2
VFC icon
VF Corp
VFC
+$14.4M
3
PBR icon
Petrobras
PBR
+$12.7M
4
CLF icon
Cleveland-Cliffs
CLF
+$12.6M
5
EMN icon
Eastman Chemical
EMN
+$12.3M

Sector Composition

Rank Sector Weight
1 Industrials 8.51%
2 Materials 4.58%
3 Technology 4.4%
4 Consumer Discretionary 3.86%
5 Energy 3.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OLN icon
51
Olin
OLN
$2.06B
$14.6M 0.59%
700,000
+150,000
+27% +$3.24M
CLF icon
52
CALL
Cleveland-Cliffs
CLF
$6.76B
$13.3M 0.54%
+1,000,000
New +$12.6M
CLF icon
53
Cleveland-Cliffs
CLF
$6.76B
$13.3M 0.54%
1,000,000
-1,000,000
-50% -$12.6M
NOK icon
54
Nokia
NOK
$51.1B
$12.9M 0.53%
+2,000,000
New +$12.4M
BORR
55
Borr Drilling
BORR
$1.23B
$11.7M 0.48%
2,900,000
-100,000
-3% -$331K
AAUC
56
Allied Gold Corp
AAUC
$2.19B
$11.4M 0.47%
+500,000
New +$9.63M
PONY
57
CALL
Pony AI Inc
PONY
$3.42B
$10.9M 0.44%
+750,000
New +$12.5M
TLS icon
58
Telos
TLS
$325M
$10.7M 0.44%
2,100,000
+100,000
+5% +$624K
EVTL icon
59
Vertical Aerospace
EVTL
$160M
$10.7M 0.43%
+2,000,000
New +$10.1M
HUN icon
60
Huntsman Corp
HUN
$1.74B
$10M 0.41%
+1,000,000
New +$9.16M
GPRE icon
61
Green Plains
GPRE
$1.19B
$9.8M 0.4%
1,000,000
– –
GSM icon
62
FerroAtlántica
GSM
$585M
$9.28M 0.38%
2,000,000
– –
AOMR
63
Angel Oak Mortgage REIT
AOMR
$219M
$8.61M 0.35%
1,000,000
– –
CE icon
64
Celanese
CE
$4.77B
$8.46M 0.35%
200,000
+100,000
+100% +$4.08M
EVEX icon
65
Eve Holding
EVEX
$784M
$8.38M 0.34%
2,100,000
-950,000
-31% -$4.18M
RIG icon
66
CALL
Transocean
RIG
$5.7B
$8.26M 0.34%
2,000,000
– –
ACHR icon
67
Archer Aviation
ACHR
$3.53B
$7.52M 0.31%
999,600
-100
-0% -$941
EVTL icon
68
CALL
Vertical Aerospace
EVTL
$160M
$5.33M 0.22%
1,000,000
– –
CELH icon
69
Celsius Holdings
CELH
$7.35B
$4.57M 0.19%
+100,000
New +$5.04M
LUCD icon
70
Lucid Diagnostics
LUCD
$166M
$4.36M 0.18%
4,000,000
+727
+0% +$813
RIG icon
71
Transocean
RIG
$5.7B
$4.13M 0.17%
1,000,000
– –
UP icon
72
Wheels Up
UP
$215M
$3.28M 0.13%
250,000
+200,000
+400% +$4.56M
PLUG icon
73
Plug Power
PLUG
$2.89B
$1.97M 0.08%
1,000,000
– –
STIM icon
74
Neuronetics
STIM
$142M
$1.38M 0.06%
1,000,000
– –
SENS icon
75
Senseonics Holdings Inc
SENS
$256M
$1.38M 0.06%
249,998
-2
-0% -$14
1 2
3
4

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Masters Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Masters Capital Management held 97 positions worth $2.45B, down 11% from $2.76B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Masters Capital Management withdrew a net $463M in Q4 2025, closing 21 positions and reducing 12 holdings. Its most notable exit was Archer Daniels Midland, an estimated $17.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 8.5% of assets, up from 6.1% a quarter earlier, followed by Materials and Technology.

Against the trend, Masters Capital Management opened a new position in Honeywell worth $19.5M.

  • Masters Capital Management's largest Q4 2025 buy was Honeywell: 100,000 shares worth $19.5M.
  • Masters Capital Management added most to Mohawk Industries in Q4 2025, an estimated $34.5M increase.
  • Masters Capital Management's biggest Q4 2025 reduction was Cleveland-Cliffs, cutting an estimated $12.6M.
  • Masters Capital Management fully exited Archer Daniels Midland in Q4 2025, selling an estimated $17.9M.
  • Masters Capital Management's ten largest holdings make up 45% of its $2.45B portfolio in Q4 2025.
  • Masters Capital Management opened 19 new positions and closed 21 in Q4 2025.
  • Masters Capital Management's portfolio value fell 11% quarter-over-quarter to $2.45B.

Based on Masters Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.