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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
NFE icon
76
New Fortress Energy
NFE
$92.1M
$1.14M 0.05%
1,000,000
– –
ADM icon
77
CALL
Archer Daniels Midland
ADM
$38.2B
– –
-700,000
Closed -$41.8M
ADM icon
78
Archer Daniels Midland
ADM
$38.2B
– –
-300,000
Closed -$17.9M
BMY icon
79
CALL
Bristol-Myers Squibb
BMY
$133B
– –
-1,000,000
Closed -$45.1M
CRC icon
80
California Resources
CRC
$4.67B
– –
-200,000
Closed -$10.6M
DQ
81
Daqo New Energy
DQ
$823M
– –
-200,000
Closed -$5.63M
EMN icon
82
PUT
Eastman Chemical
EMN
$8B
– –
-500,000
Closed -$31.5M
FLR icon
83
CALL
Fluor
FLR
$7.01B
– –
-700,000
Closed -$29.4M
GILD icon
84
CALL
Gilead Sciences
GILD
$162B
– –
-1,000,000
Closed -$111M
HAL icon
85
CALL
Halliburton
HAL
$26.9B
– –
-1,000,000
Closed -$24.6M
HTZ icon
86
CALL
Hertz
HTZ
$499M
– –
-1,000,000
Closed -$6.8M
MHK icon
87
CALL
Mohawk Industries
MHK
$7.5B
– –
-200,000
Closed -$25.8M
NOV icon
88
CALL
NOV
NOV
$6.93B
– –
-1,000,000
Closed -$13.3M
NUE icon
89
CALL
Nucor
NUE
$58.6B
– –
-300,000
Closed -$40.6M
PBR icon
90
Petrobras
PBR
$125B
– –
-1,000,000
Closed -$12.7M
REAL icon
91
CALL
The RealReal
REAL
$1.46B
– –
-1,000,000
Closed -$10.6M
RUN icon
92
CALL
Sunrun
RUN
$2.34B
– –
-1,000,000
Closed -$17.3M
SPY icon
93
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
– –
-1,000,000
Closed -$666M
VALE icon
94
Vale
VALE
$64.1B
– –
-1,000,000
Closed -$10.9M
VFC icon
95
CALL
VF Corp
VFC
$5.63B
– –
-1,000,000
Closed -$14.4M
VFC icon
96
VF Corp
VFC
$5.63B
– –
-1,000,000
Closed -$14.4M
XBI icon
97
CALL
State Street SPDR S&P Biotech ETF
XBI
$9.95B
– –
-500,000
Closed -$50.1M
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.