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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
(+138%)
Cap. Flow
+$210M
Cap. Flow
% of AUM
36.14%
Top 10 Holdings %
Top 10 Hldgs %
74.44%
Holding
170
New
91
Increased
8
Reduced
13
Closed
50
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Bitcoin Trust
IBIT
|
+$107M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$70.4M |
| 3 |
Norfolk Southern
NSC
|
+$46.5M |
| 4 |
CYBR
CyberArk
CYBR
|
+$19.9M |
| 5 |
Qorvo
QRVO
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$52.6M |
| 2 |
HDFC Bank
HDB
|
+$19.4M |
| 3 |
CUK
Carnival PLC
CUK
|
+$15.7M |
| 4 |
COOP
Mr. Cooper
COOP
|
+$10.3M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
LNAI
101
Lunai Bioworks
LNAI
$9.57M
| $21.4K | ﹤0.01% |
+3,028
| New | +$27K |
|
102
Agilon Health
AGL
$1.55B
| $21K | ﹤0.01% |
+1,221
| New | +$23.7K |
|
103
Accuray
ARAY
$27.5M
| $20.8K | ﹤0.01% |
+25,202
| New | +$31.5K |
|
104
PMV Pharmaceuticals
PMVP
$57.1M
| $20.8K | ﹤0.01% |
+16,607
| New | +$22.2K |
|
105
W&T Offshore
WTI
$525M
| $20.8K | ﹤0.01% |
+12,730
| New | +$24.4K |
|
106
Seer Inc
SEER
$114M
| $19.7K | ﹤0.01% |
+10,751
| New | +$21.9K |
|
107
Strive Inc
ASST
$930M
| $19.5K | ﹤0.01% |
+1,318
| New | +$31.5K |
|
108
TELA Bio
TELA
$30.3M
| $19.5K | ﹤0.01% |
+16,486
| New | +$20.9K |
|
109
Fate Therapeutics
FATE
$275M
| $19.1K | ﹤0.01% |
+19,445
| New | +$23.4K |
|
110
DocGo
DCGO
$64.2M
| $18.6K | ﹤0.01% |
+21,133
| New | +$22.6K |
|
111
Ring Energy
REI
$307M
| $17.8K | ﹤0.01% |
+20,491
| New | +$19.5K |
|
112
Actinium Pharmaceuticals
ATNM
$26.3M
| $17.6K | ﹤0.01% |
+12,940
| New | +$18.9K |
|
113
ALX Oncology
ALXO
$262M
| $17.5K | ﹤0.01% |
+15,475
| New | +$23.4K |
|
114
PUT
Vale
VALE
$62.3B
| $16.4K | ﹤0.01% |
11,500
-8,200
| -42% | -$99.6K |
|
|
PRENW
115
Prenetics Global Ltd Warrant
PRENW
$139K
| – | – |
0
| – | – |
|
|
NOTE.WS
116
DELISTED
FiscalNote Holdings Warrants
NOTE.WS
| – | – |
0
| – | – |
|
117
PUT
Linde
LIN
$236B
| $1.88K | ﹤0.01% |
45,400
-5,300
| -10% | -$2.27M |
|
118
CALL
Apple
AAPL
$4.97T
| – | – |
-16,000
| Closed | -$389K |
|
|
119
PUT
Apple
AAPL
$4.97T
| – | – |
-31,800
| Closed | -$90.6K |
|
120
CALL
Advanced Micro Devices
AMD
$700B
| – | – |
-15,000
| Closed | -$247K |
|
|
121
PUT
Advanced Micro Devices
AMD
$700B
| – | – |
-16,500
| Closed | -$179K |
|
122
American Express
AXP
$224B
| – | – |
-938
| Closed | -$312K |
|
|
123
PUT
American Express
AXP
$224B
| – | – |
-7,200
| Closed | -$41.4K |
|
124
Brookfield Infrastructure
BIPC
$5.32B
| – | – |
-65,261
| Closed | -$2.68M |
|
125
PUT
Carnival Corporation Ltd
CCL
$38.1B
| – | – |
-3,000,000
| Closed | -$30K |
|
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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.