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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
+13.64%
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
$244M
AUM Growth
-$30.5M
Cap. Flow
-$54.6M
Cap. Flow %
-22.41%
Top 10 Hldgs %
75.74%
Holding
117
New
24
Increased
10
Reduced
16
Closed
41

Top Buys

Rank Stock Value
1
FOX icon
Fox Class B
FOX
+$21.7M
2
CUK
Carnival PLC
CUK
+$18.3M
3
HDB icon
HDFC Bank
HDB
+$14M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$9.49M
5
COOP
Mr. Cooper
COOP
+$8.98M

Top Sells

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$73M
2
TGT icon
Target
TGT
+$27M
3
LBRDK icon
Liberty Broadband Class C
LBRDK
+$9.96M
4
HES
Hess
HES
+$9.7M
5
RYAAY icon
Ryanair
RYAAY
+$6.18M

Sector Composition

Rank Sector Weight
1 Communication Services 40.57%
2 Financials 14.74%
3 Consumer Discretionary 8.38%
4 Materials 6.81%
5 Technology 6.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
101
NVIDIA
NVDA
$4.6T
– –
-6,357
Closed -$1M
NVEE
102
DELISTED
NV5 Global
NVEE
– –
-59,774
Closed -$1.38M
RBLX icon
103
CALL
Roblox
RBLX
$35.9B
– –
-40,000
Closed -$1.85M
SKX
104
DELISTED
Skechers
SKX
– –
-19,087
Closed -$1.2M
SPR
105
DELISTED
Spirit AeroSystems
SPR
– –
-25,405
Closed -$969K
TASK icon
106
TaskUs
TASK
$594M
– –
-30,000
Closed -$503K
TGT icon
107
Target
TGT
$66.3B
– –
-274,000
Closed -$27M
TIXT
108
DELISTED
TELUS International
TIXT
– –
-130,000
Closed -$472K
UBER icon
109
CALL
Uber
UBER
$145B
– –
-25,000
Closed -$523K
UBER icon
110
PUT
Uber
UBER
$145B
– –
-27,500
Closed -$73.4K
WBA
111
DELISTED
Walgreens Boots Alliance
WBA
– –
-123,000
Closed -$1.41M
WBD icon
112
Warner Bros
WBD
$64.3B
– –
-2,062
Closed -$28.1K
YUMC icon
113
Yum China
YUMC
$15.7B
– –
-20,038
Closed -$897K
ZK
114
DELISTED
Zeekr
ZK
– –
-20,000
Closed -$510K
1 2 3 4
5

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MCM
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Nine Masts Capital's Q3 2025 Portfolio in Review

As of Q3 2025, Nine Masts Capital held 117 positions worth $244M, down 11% from $274M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Nine Masts Capital withdrew a net $54.6M in Q3 2025, closing 41 positions and reducing 16 holdings. Its most notable exit was iShares Bitcoin Trust, an estimated $73M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 41% of assets, up from 21% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Nine Masts Capital opened a new position in Carnival PLC worth $17.6M.

  • Nine Masts Capital's largest Q3 2025 buy was Carnival PLC: 665,643 shares worth $17.6M.
  • Nine Masts Capital added most to Fox Class B in Q3 2025, an estimated $21.7M increase.
  • Nine Masts Capital's biggest Q3 2025 reduction was Ryanair, cutting an estimated $6.18M.
  • Nine Masts Capital fully exited iShares Bitcoin Trust in Q3 2025, selling an estimated $73M.
  • Nine Masts Capital's ten largest holdings make up 76% of its $244M portfolio in Q3 2025.
  • Nine Masts Capital opened 24 new positions and closed 41 in Q3 2025.
  • Nine Masts Capital's portfolio value fell 11% quarter-over-quarter to $244M.

Based on Nine Masts Capital's 13F filing for Q3 2025, filed 13 Nov 2025.