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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
COOP
126
DELISTED
Mr. Cooper
COOP
– –
-48,789
Closed -$10.3M
DDOG icon
127
CALL
Datadog
DDOG
$95.6B
– –
-10,000
Closed -$217K
DDOG icon
128
Datadog
DDOG
$95.6B
– –
-883
Closed -$126K
DDOG icon
129
PUT
Datadog
DDOG
$95.6B
– –
-20,300
Closed -$239K
DEO icon
130
Diageo
DEO
$49.5B
– –
-78,872
Closed -$7.53M
DVN icon
131
Devon Energy
DVN
$50.9B
– –
-29,868
Closed -$1.05M
DVN icon
132
PUT
Devon Energy
DVN
$50.9B
– –
-66,400
Closed -$168K
GEHC icon
133
CALL
GE HealthCare
GEHC
$31.6B
– –
-20,000
Closed -$36K
GEHC icon
134
PUT
GE HealthCare
GEHC
$31.6B
– –
-15,900
Closed -$118K
GOOG icon
135
Alphabet (Google) Class C
GOOG
$4.08T
– –
-216,087
Closed -$52.6M
GRND icon
136
Grindr
GRND
$3.01B
– –
-241,300
Closed -$3.62M
HDB icon
137
HDFC Bank
HDB
$124B
– –
-568,939
Closed -$19.4M
HLN icon
138
Haleon
HLN
$44.5B
– –
-163,003
Closed -$1.46M
ISRL
139
DELISTED
Israel Acquisitions Corp
ISRL
– –
-400,000
Closed -$5.04M
K
140
PUT
DELISTED
Kellanova
K
– –
-40,000
Closed -$13K
LI icon
141
Li Auto
LI
$14B
– –
-69,296
Closed -$1.81M
NFE icon
142
PUT
New Fortress Energy
NFE
$94.6M
– –
-1,722,200
Closed -$301K
NFLX icon
143
CALL
Netflix
NFLX
$305B
– –
-20,000
Closed -$638K
NFLX icon
144
PUT
Netflix
NFLX
$305B
– –
-32,000
Closed -$23.7K
NOW icon
145
PUT
ServiceNow
NOW
$114B
– –
-7,500
Closed -$338K
PDD icon
146
CALL
Pinduoduo
PDD
$124B
– –
-39,500
Closed -$1.34M
PDD icon
147
PUT
Pinduoduo
PDD
$124B
– –
-40,000
Closed -$23.8K
RBLX icon
148
Roblox
RBLX
$34.8B
– –
-1,851
Closed -$256K
RBLX icon
149
PUT
Roblox
RBLX
$34.8B
– –
-11,000
Closed -$4.67K
RELX icon
150
RELX
RELX
$63.9B
– –
-9,284
Closed -$443K
3 4 5
6
7

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CL
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CPA
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IIC
Ironwood Investment Counsel Scottsdale, Arizona $694M AUM 16.84% 1-Year Est. Return
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.