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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
FOLD
51
DELISTED
Amicus Therapeutics
FOLD
$712K 0.12%
+50,000
New +$491K
IMXI icon
52
International Money Express
IMXI
$389M
$691K 0.12%
+45,000
New +$676K
ELME
53
Elme Communities
ELME
$145M
$617K 0.11%
35,453
-211,789
-86% -$3.59M
NTES icon
54
NetEase
NTES
$83B
$584K 0.1%
+4,235
New +$601K
AES icon
55
AES
AES
$10.6B
$558K 0.1%
+38,900
New +$548K
AMCR icon
56
Amcor
AMCR
$21.2B
$542K 0.09%
13,000
+6,400
+97% +$264K
ABVX
57
Abivax
ABVX
$10.4B
$539K 0.09%
+4,000
New +$436K
WDS icon
58
Woodside Energy
WDS
$44.2B
$535K 0.09%
34,317
– –
KW
59
DELISTED
Kennedy-Wilson Holdings
KW
$535K 0.09%
+55,295
New +$496K
CSQ icon
60
Calamos Strategic Total Return Fund
CSQ
$3.13B
$531K 0.09%
+27,663
New +$527K
SKM icon
61
SK Telecom
SKM
$11.4B
$529K 0.09%
+25,748
New +$529K
GEHC icon
62
GE HealthCare
GEHC
$32.7B
$520K 0.09%
+6,339
New +$494K
SCHW
63
Charles Schwab
SCHW
$182B
$409K 0.07%
4,095
-1,714
-30% -$163K
VVR icon
64
Invesco Senior Income Trust
VVR
$456M
$399K 0.07%
122,007
-53,431
-30% -$176K
BRW
65
Saba Capital Income & Opportunities Fund
BRW
$335M
$382K 0.07%
+54,542
New +$395K
DVAX
66
DELISTED
Dynavax Technologies
DVAX
$379K 0.07%
+24,629
New +$271K
UBER icon
67
Uber
UBER
$145B
$338K 0.06%
+4,141
New +$373K
WF icon
68
Woori Financial
WF
$15.9B
$286K 0.05%
4,868
– –
XFLT
69
XAI Floating Rate & Alternative Income Trust
XFLT
$282M
$258K 0.04%
10,761
-8,203
-43% -$197K
MDT icon
70
PUT
Medtronic
MDT
$112B
$121K 0.02%
20,300
+10,300
+103% +$1M
MDT icon
71
CALL
Medtronic
MDT
$112B
$77.5K 0.01%
10,000
-20,000
-67% -$1.94M
TLYS icon
72
Tilly's
TLYS
$114M
$57.3K 0.01%
+28,817
New +$47.2K
LZM icon
73
Lifezone Metals
LZM
$275M
$54.3K 0.01%
+12,709
New +$57.4K
SPWH icon
74
Sportsman's Warehouse
SPWH
$44.9M
$53.9K 0.01%
+36,922
New +$80.3K
UEIC icon
75
Universal Electronics
UEIC
$59.2M
$45.4K 0.01%
+12,581
New +$45.8K
1 2
3
4 5

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CL
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CPA
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IIC
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MCM
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SSA
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WC
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WIM
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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.