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NMC

Nine Masts Capital Portfolio holdings

AUM $693M
1-Year Est. Return 31.93%
This Fund
S&P 500
This Quarter Est. Return
+0.32%
1 Year Est. Return
+31.93%
3 Year Est. Return
+76.49%
5 Year Est. Return
+38.28%
10 Year Est. Return
+77.77%
AUM
$581M
AUM Growth
+$337M
Cap. Flow
+$210M
Cap. Flow %
36.14%
Top 10 Hldgs %
74.44%
Holding
170
New
91
Increased
8
Reduced
13
Closed
50

Top Buys

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$107M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$70.4M
3
NSC icon
Norfolk Southern
NSC
+$46.5M
4
CYBR
CyberArk
CYBR
+$19.9M
5
QRVO icon
Qorvo
QRVO
+$14.8M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$52.6M
2
HDB icon
HDFC Bank
HDB
+$19.4M
3
CUK
Carnival PLC
CUK
+$15.7M
4
COOP
Mr. Cooper
COOP
+$10.3M
5
DEO icon
Diageo
DEO
+$7.53M

Sector Composition

Rank Sector Weight
1 Communication Services 11.87%
2 Technology 11.7%
3 Industrials 10.35%
4 Healthcare 5.42%
5 Consumer Discretionary 2.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BIDU icon
26
Baidu
BIDU
$35.6B
$2.59M 0.45%
19,811
-16,193
-45% -$2.01M
NIO icon
27
NIO
NIO
$11.7B
$2.42M 0.42%
+474,500
New +$2.93M
BTI icon
28
British American Tobacco
BTI
$134B
$1.95M 0.34%
+34,475
New +$1.88M
JHG
29
DELISTED
Janus Henderson
JHG
$1.88M 0.32%
+39,523
New +$1.75M
NVDA icon
30
NVIDIA
NVDA
$4.77T
$1.7M 0.29%
+9,121
New +$1.7M
CUK
31
DELISTED
Carnival PLC
CUK
$1.68M 0.29%
55,335
-610,308
-92% -$15.7M
CWAN
32
DELISTED
Clearwater Analytics
CWAN
$1.67M 0.29%
+69,323
New +$1.39M
EA icon
33
Electronic Arts
EA
$52.4B
$1.64M 0.28%
+8,034
New +$1.62M
CSGS
34
DELISTED
CSG Systems International
CSGS
$1.53M 0.26%
+20,000
New +$1.48M
NFLX icon
35
Netflix
NFLX
$304B
$1.32M 0.23%
+14,117
New +$1.52M
AXTA icon
36
Axalta
AXTA
$7.67B
$1.29M 0.22%
+40,000
New +$1.17M
MAGS icon
37
Listed Funds Trust Roundhill Magnificent Seven ETF
MAGS
$3.83B
$1.21M 0.21%
+18,309
New +$1.21M
SEMR
38
DELISTED
Semrush
SEMR
$1.19M 0.2%
+100,000
New +$937K
NOW icon
39
ServiceNow
NOW
$115B
$1.17M 0.2%
7,605
+1,020
+15% +$175K
FYBR
40
DELISTED
Frontier Communications
FYBR
$1.14M 0.2%
30,000
-72,381
-71% -$2.74M
BIP icon
41
Brookfield Infrastructure Partners
BIP
$19.1B
$1.1M 0.19%
+31,549
New +$1.1M
XOM icon
42
ExxonMobil
XOM
$635B
$1.02M 0.18%
8,486
+545
+7% +$63.2K
TGNA
43
DELISTED
TEGNA Inc
TGNA
$893K 0.15%
+46,030
New +$910K
TWO
44
Two Harbors Investment
TWO
$1.27B
$851K 0.15%
+81,000
New +$810K
LYB icon
45
LyondellBasell Industries
LYB
$18.9B
$828K 0.14%
19,126
+8,361
+78% +$379K
TTD icon
46
Trade Desk
TTD
$8.86B
$778K 0.13%
20,500
+1,500
+8% +$66.5K
VALE icon
47
Vale
VALE
$62.7B
$756K 0.13%
16,277
-449,720
-97% -$5.46M
SEE
48
DELISTED
Sealed Air
SEE
$756K 0.13%
+18,243
New +$706K
PDD icon
49
Pinduoduo
PDD
$122B
$747K 0.13%
+6,586
New +$818K
AIV
50
Aimco
AIV
$378M
$713K 0.12%
+120,000
New +$719K
1
2
3 4 5

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Nine Masts Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Nine Masts Capital held 170 positions worth $581M, up 138% from $244M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Nine Masts Capital deployed $210M of net new capital in Q4 2025, opening 91 new positions and adding to 8 existing holdings. Its largest new stake was iShares Bitcoin Trust: 1,889,214 shares worth $93.8M.

By sector, the portfolio is most concentrated in Communication Services at 12% of assets, down from 41% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Carnival PLC, an estimated $15.7M trimmed.

  • Nine Masts Capital's largest Q4 2025 buy was iShares Bitcoin Trust: 1,889,214 shares worth $93.8M.
  • Nine Masts Capital added most to TXNM Energy Inc in Q4 2025, an estimated $1.67M increase.
  • Nine Masts Capital's biggest Q4 2025 reduction was Carnival PLC, cutting an estimated $15.7M.
  • Nine Masts Capital fully exited Alphabet (Google) Class C in Q4 2025, selling an estimated $52.6M.
  • Nine Masts Capital's ten largest holdings make up 74% of its $581M portfolio in Q4 2025.
  • Nine Masts Capital opened 91 new positions and closed 50 in Q4 2025.
  • Nine Masts Capital's portfolio value rose 138% quarter-over-quarter to $581M.

Based on Nine Masts Capital's 13F filing for Q4 2025, filed 10 Feb 2026.