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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
GOOG icon
1
Alphabet (Google) Class C
GOOG
$4.29T
$52.6M 21.61%
216,087
+45,151
+26% +$9.49M
FOX icon
2
Fox Class B
FOX
$21.6B
$36.2M 14.88%
632,375
+411,289
+186% +$21.7M
HDB icon
3
HDFC Bank
HDB
$121B
$19.4M 7.98%
568,939
+379,625
+201% +$14M
CUK
4
DELISTED
Carnival PLC
CUK
$17.6M 7.23%
+665,643
New +$18.3M
VALE icon
5
Vale
VALE
$60B
$16.1M 6.59%
+465,997
New +$4.76M
COOP
6
DELISTED
Mr. Cooper
COOP
$10.3M 4.22%
+48,789
New +$8.98M
RYAAY icon
7
Ryanair
RYAAY
$30.6B
$10.1M 4.17%
168,510
-101,322
-38% -$6.18M
ASX icon
8
ASE Group
ASX
$81B
$9.33M 3.83%
841,686
+189,318
+29% +$1.98M
DEO icon
9
Diageo
DEO
$47.2B
$7.53M 3.09%
+78,872
New +$8.28M
VALE icon
10
CALL
Vale
VALE
$60B
$5.21M 2.14%
+100,000
New +$1.02M
ISRL
11
DELISTED
Israel Acquisitions Corp
ISRL
$5.04M 2.07%
+400,000
New +$5.02M
BIDU icon
12
Baidu
BIDU
$37.4B
$4.93M 2.02%
+36,004
New +$3.57M
ELME
13
Elme Communities
ELME
$133M
$4.17M 1.71%
+247,242
New +$4.09M
FYBR
14
DELISTED
Frontier Communications
FYBR
$3.82M 1.57%
102,381
-4,000
-4% -$148K
GRND icon
15
Grindr
GRND
$2.77B
$3.62M 1.49%
241,300
-74,586
-24% -$1.31M
BIPC icon
16
Brookfield Infrastructure
BIPC
$4.99B
$2.68M 1.1%
+65,261
New +$2.65M
SPY icon
17
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$2.46M 1.01%
200,000
+10,000
+5% +$6.41M
TXNM
18
TXNM Energy Inc
TXNM
$6.4B
$2.38M 0.98%
42,000
+22,432
+115% +$1.27M
LI icon
19
Li Auto
LI
$12.3B
$1.81M 0.74%
+69,296
New +$1.79M
SHOP icon
20
Shopify
SHOP
$162B
$1.63M 0.67%
+11,000
New +$1.49M
U icon
21
CALL
Unity
U
$13B
$1.57M 0.64%
100,000
– –
HLN icon
22
Haleon
HLN
$44.2B
$1.46M 0.6%
+163,003
New +$1.57M
WBD icon
23
CALL
Warner Bros
WBD
$64.8B
$1.37M 0.56%
175,000
– –
TTD icon
24
PUT
Trade Desk
TTD
$8.76B
$1.35M 0.56%
20,500
– –
PDD icon
25
CALL
Pinduoduo
PDD
$122B
$1.34M 0.55%
39,500
– –
1
2 3 4 5

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CGIC
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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.