MASTERS CAPITAL MANAGEMENT LLC

$3.0B reported 13(f) long value · latest quarter 2026-03-31 · CIK 1104186 · EDGAR ↗

sum of disclosed values for 2026-03-31; 0 positions carry a NULL value and are excluded from the sum, surfaced here rather than folded away: $3.0B
ALL retained default holdings for this (filer, period), including NULL-value ones: 98
positions with no comparable holding in the prior quarter (kind new), 2026-03-31: 33
positions absent from this quarter's filing after being held last quarter (kind exit), 2026-03-31 — inferred from absence, not a sale record: 24

A quarter-end snapshot. Filed up to 45 days later, so this page is not current holdings and never a complete portfolio. what a 13F is — and is not ↓ methodology §13F ↗

Position changes — into 2026-03-31

by shares · Δ value · filing link · how changes are classified §

Position changes into quarter 2026-03-31
position matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match `identity_reconciled_by_cusip`	the reported share count is unchanged across the pair; this build's data classified the change from its reported value; builds from 2026-09-10 on read it as NO CHANGE `classified_by_value` · EXIT = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · NO CHANGE = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an ADD or a TRIM (NEW / ADD / TRIM / EXIT / NO CHANGE) · NO PRIOR = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stake	derived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zero	reported unit changed across the pair (SH↔PRN); the share delta is withheld rather than fabricated `shares_unit_mismatch`	Prev value	Curr value	Prev shares	Curr shares
position key `pos:13043` · issuer key `iss:1012` 20 YR TR BD ETF CALL	NEW	+$347M	+4,000,000	$0	$347M	—	4,000,000
position key `pos:15168` · issuer key `iss:456` COM NEW CALL	ADD	+$145M	+1,300,000	$81.7M	$227M	700,000	2,000,000
position key `pos:10156` · issuer key `iss:1861` CL B CALL	TRIM	−$21.3M	−200,000	$198M	$177M	2,000,000	1,800,000
position key `pos:18143` · issuer key `iss:982` COM CALL	ADD	+$58.6M	+1,000,000	$73.8M	$132M	2,000,000	3,000,000
position key `pos:10136` · issuer key `iss:990` COM CALL	ADD	+$62.0M	+300,000	$59.2M	$121M	200,000	500,000
position key `pos:16532` · issuer key `iss:812` COM CALL	TRIM	−$65.8M	−700,000	$163M	$96.9M	2,000,000	1,300,000
position key `pos:18082` · issuer key `iss:1950` CL A CALL	NEW	+$82.7M	+1,100,000	$0	$82.7M	—	1,100,000
position key `pos:12359` · issuer key `iss:566` COM NEW PUT	NEW	+$66.5M	+1,000,000	$0	$66.5M	—	1,000,000
position key `pos:15008` · issuer key `iss:318` COM CALL	NEW	+$60.7M	+1,000,000	$0	$60.7M	—	1,000,000
position key `pos:16525` · issuer key `iss:58` COM CALL	NEW	+$58.1M	+200,000	$0	$58.1M	—	200,000
position key `pos:15816` · issuer key `iss:1377` COM CALL	NEW	+$56.0M	+500,000	$0	$56.0M	—	500,000
position key `pos:16716` · issuer key `iss:633` COM CALL	NEW	+$53.2M	+200,000	$0	$53.2M	—	200,000
position key `pos:13754` · issuer key `iss:468` COM CALL	ADD	+$20.0M	+184,500	$31.8M	$51.8M	315,500	500,000
position key `pos:12367` · issuer key `iss:1627` COM STK CALL	TRIM	−$25.4M	−1,000,000	$76.8M	$51.4M	2,000,000	1,000,000
position key `pos:11349` · issuer key `iss:1242` COM	ADD	+$5.5M	+100,000	$43.7M	$49.2M	400,000	500,000
position key `pos:10156` · issuer key `iss:1861` CL B	ADD	+$19.4M	+200,000	$29.8M	$49.2M	300,000	500,000
position key `pos:10501` · issuer key `iss:779` CL B CALL	ADD	+$27.7M	+420,100	$19.3M	$47.0M	379,900	800,000
position key `pos:11379` · issuer key `iss:1999` SPON ADR CL D CALL	ADD	+$23.8M	+380,000	$22.4M	$46.2M	620,000	1,000,000
position key `pos:14408` · issuer key `iss:753` COM	TRIM	−$442K	−175,000	$43.6M	$43.2M	1,100,000	925,000
position key `pos:16476` · issuer key `iss:19` COM CL A CALL	NEW	+$41.4M	+500,000	$0	$41.4M	—	500,000
position key `pos:17214` · issuer key `iss:298` COM CALL	TRIM	−$68.8M	−300,000	$109M	$39.8M	500,000	200,000
position key `pos:12014` · issuer key `iss:157` COM CALL	NEW	+$36.3M	+500,000	$0	$36.3M	—	500,000
position key `pos:13354` · issuer key `iss:367` COM CALL	NEW	+$35.9M	+500,000	$0	$35.9M	—	500,000
position key `pos:10533` · issuer key `iss:1004` COM CALL	NEW	+$31.7M	+1,100,000	$0	$31.7M	—	1,100,000
position key `pos:14095` · issuer key `iss:307` COM CALL	NEW	+$31.4M	+500,000	$0	$31.4M	—	500,000
position key `pos:11349` · issuer key `iss:1242` COM CALL	NEW	+$29.5M	+300,000	$0	$29.5M	—	300,000
position key `sid:sec:prov:711d66d698711dacee6a087a4a4c6000` · issuer key `cusip6:31816X` COM CALL	NEW	+$28.5M	+1,000,000	$0	$28.5M	—	1,000,000
position key `pos:16732` · issuer key `iss:734` COM CALL	NEW	+$27.9M	+600,000	$0	$27.9M	—	600,000
position key `pos:11081` · issuer key `iss:1265` COM	ADD	−$8.4M	+500,000	$30.6M	$22.2M	3,000,000	3,500,000
position key `sid:sec:prov:ac0927bfce1cd998907669408d3bbff4` · issuer key `cusip6:10501L` SPONSORED ADS	ADD	+$2.9M	+650,000	$19.0M	$21.9M	1,000,000	1,650,000
position key `pos:12296` · issuer key `iss:237` ADR CALL	NEW	+$21.2M	+1,000,000	$0	$21.2M	—	1,000,000
position key `pos:17995` · issuer key `iss:101` COM	ADD	+$1.5M	+500,000	$19.2M	$20.8M	3,000,000	3,500,000
position key `pos:14408` · issuer key `iss:753` COM CALL	NEW	+$20.1M	+430,000	$0	$20.1M	—	430,000
position key `pos:14868` · issuer key `iss:68` COM CALL	TRIM	−$6.7M	−200,000	$26.6M	$19.9M	500,000	300,000
position key `pos:10453` · issuer key `iss:919` COM	NEW	+$19.3M	+850,000	$0	$19.3M	—	850,000
position key `pos:12256` · issuer key `iss:1130` COM	TRIM	+$870K	−5,186	$18.3M	$19.1M	2,000,000	1,994,814
position key `sid:sec:prov:11ef0224dbe0d573a8ee7134e2edf899` · issuer key `cusip6:343389` COM NEW	ADD	+$1.3M	+89,438	$17.2M	$18.5M	1,000,000	1,089,438
position key `pos:13012` · issuer key `iss:1797` COM CALL	NEW	+$18.2M	+2,000,000	$0	$18.2M	—	2,000,000
position key `pos:17141` · issuer key `iss:993` COM CALL	TRIM	−$21.5M	−500,000	$39.4M	$17.9M	1,000,000	500,000
position key `pos:10241` · issuer key `iss:467` COM CALL	ADD	+$3.6M	+1,000,000	$13.3M	$16.9M	1,000,000	2,000,000
position key `pos:18045` · issuer key `iss:630` COM	TRIM	−$3.9M	−100,000	$19.1M	$15.3M	300,000	200,000
position key `pos:13976` · issuer key `iss:723` CL A CALL	NEW	+$14.5M	+500,000	$0	$14.5M	—	500,000
position key `pos:12993` · issuer key `iss:1898` COM CL A CALL	NEW	+$13.9M	+880,000	$0	$13.9M	—	880,000
position key `pos:12817` · issuer key `iss:1239` COMMON CLASS A CALL	NEW	+$13.7M	+2,000,000	$0	$13.7M	—	2,000,000
position key `pos:17624` · issuer key `iss:2264` REGISTERED SHS	ADD	+$9.1M	+1,000,000	$4.1M	$13.3M	1,000,000	2,000,000
position key `pos:14167` · issuer key `iss:1312` COM	TRIM	−$6.8M	−1,000,000	$18.4M	$11.6M	2,000,000	1,000,000
position key `pos:17517` · issuer key `iss:2057` SHS	TRIM	−$147K	−900,000	$11.7M	$11.5M	2,900,000	2,000,000
position key `sid:sec:prov:8948595df4e56c28a2e8dffed59ee810` · issuer key `cusip6:24823R` COM	TRIM	−$5.0M	−400,000	$16.5M	$11.5M	1,000,000	600,000
position key `sid:sec:prov:b34180bef97f96289ed9c41fa480875d` · issuer key `cusip6:086921` COM SHS CL A	NEW	+$10.3M	+700,000	$0	$10.3M	—	700,000
position key `pos:10241` · issuer key `iss:467` COM	ADD	−$3.1M	+200,000	$13.3M	$10.1M	1,000,000	1,200,000
position key `pos:14617` · issuer key `iss:1467` SPONSORED ADS CALL	ADD	−$1.4M	+250,000	$10.9M	$9.4M	750,000	1,000,000
position key `pos:14617` · issuer key `iss:1467` SPONSORED ADS	TRIM	−$8.4M	−250,000	$17.4M	$9.0M	1,200,000	950,000
position key `pos:13976` · issuer key `iss:723` CL A	NEW	+$8.7M	+300,000	$0	$8.7M	—	300,000
position key `pos:17760` · issuer key `iss:150` COM CALL	NEW	+$8.5M	+100,000	$0	$8.5M	—	100,000
position key `sid:sec:prov:fe0d9966399a64b3430cac52765b9adf` · issuer key `cusip6:87969B` COM	TRIM	−$2.3M	−100,000	$10.7M	$8.4M	2,100,000	2,000,000
position key `sid:sec:prov:65111c06a55f0b865ec0893cf8e2c1bd` · issuer key `cusip6:G9471C` SHS NEW	ADD	−$3.1M	+1,400,000	$10.7M	$7.5M	2,000,000	3,400,000
position key `sid:sec:prov:0d028cea2f2cb02c7ad4f2049f71de6c` · issuer key `cusip6:46500E` COM NEW	NEW	+$7.4M	+700,000	$0	$7.4M	—	700,000
position key `pos:14215` · issuer key `iss:1733` COM	NEW	+$6.8M	+500,000	$0	$6.8M	—	500,000
position key `pos:12891` · issuer key `iss:1146` CL A COM CALL	TRIM	−$12.7M	−500,000	$19.4M	$6.7M	1,000,000	500,000
position key `pos:12891` · issuer key `iss:1146` CL A COM	NEW	+$6.7M	+500,000	$0	$6.7M	—	500,000
position key `pos:17624` · issuer key `iss:2264` REGISTERED SHS CALL	TRIM	−$1.6M	−1,000,000	$8.3M	$6.6M	2,000,000	1,000,000
position key `pos:14234` · issuer key `iss:1897` COMMON STOCK	NEW	+$6.3M	+100,000	$0	$6.3M	—	100,000
position key `pos:11928` · issuer key `iss:948` COM	NEW	+$5.6M	+300,000	$0	$5.6M	—	300,000
position key `pos:14116` · issuer key `iss:663` COM CALL	NEW	+$5.2M	+1,000,000	$0	$5.2M	—	1,000,000
position key `sid:sec:prov:0befaea9161cd0690da52313a43e4b88` · issuer key `cusip6:29970N` COM	TRIM	−$3.4M	−100,000	$8.4M	$5.0M	2,100,000	2,000,000
position key `sid:sec:prov:82fe98511ed9fabe609bda2f68a6cbe0` · issuer key `cusip6:81727U` COM	ADD	+$2.0M	+250,002	$1.4M	$3.3M	249,998	500,000
position key `sid:sec:prov:734325c9eec97d21e093fb209effeb4d` · issuer key `cusip6:45826T` COM	NEW	+$2.7M	+1,000,000	$0	$2.7M	—	1,000,000
position key `pos:16614` · issuer key `iss:1969` COM CL A	TRIM	−$1.2M	−1,000,000	$3.3M	$2.1M	5,000,000	4,000,000
position key `pos:12817` · issuer key `iss:1239` COMMON CLASS A	NEW	+$687K	+100,000	$0	$687K	—	100,000
pos:10790 CALL	EXIT‡e	−$24.9M	−1,000,000	$24.9M	$0	1,000,000	—
pos:11235 CALL	EXIT‡e	−$20.8M	−1,000,000	$20.8M	$0	1,000,000	—
pos:11235	EXIT‡e	−$14.6M	−700,000	$14.6M	$0	700,000	—
pos:11761 CALL	EXIT‡e	−$23.4M	−1,000,000	$23.4M	$0	1,000,000	—
pos:11761	EXIT‡e	−$16.4M	−700,000	$16.4M	$0	700,000	—
position key `pos:12359` · issuer key `iss:566` COM NEW CALL	EXIT‡e	−$69.4M	−1,000,000	$69.4M	$0	1,000,000	—
pos:13266 CALL	EXIT‡e	−$19.8M	−469,200	$19.8M	$0	469,200	—
pos:13266	EXIT‡e	−$8.5M	−200,000	$8.5M	$0	200,000	—
pos:13707	EXIT‡e	−$7.5M	−999,600	$7.5M	$0	999,600	—
pos:13876 CALL	EXIT‡e	−$97.5M	−500,000	$97.5M	$0	500,000	—
pos:13876	EXIT‡e	−$19.5M	−100,000	$19.5M	$0	100,000	—
pos:13891 CALL	EXIT‡e	−$31.9M	−500,000	$31.9M	$0	500,000	—
pos:14047	EXIT‡e	−$4.6M	−100,000	$4.6M	$0	100,000	—
pos:14552 CALL	EXIT‡e	−$24.1M	−200,000	$24.1M	$0	200,000	—
position key `pos:15008` · issuer key `iss:318` COM	EXIT‡e	−$16.2M	−300,000	$16.2M	$0	300,000	—
pos:15847 CALL	EXIT‡e	−$26.2M	−2,000,000	$26.2M	$0	2,000,000	—
pos:16439 CALL	EXIT‡e	−$43.8M	−500,000	$43.8M	$0	500,000	—
pos:16649 CALL	EXIT‡e	−$78.9M	−1,000,000	$78.9M	$0	1,000,000	—
pos:17450 CALL	EXIT‡e	−$42.5M	−500,000	$42.5M	$0	500,000	—
pos:17546 CALL	EXIT‡e	−$24.5M	−1,000,000	$24.5M	$0	1,000,000	—
position key `pos:18045` · issuer key `iss:630` COM CALL	EXIT‡e	−$51.1M	−800,000	$51.1M	$0	800,000	—
pos:18130	EXIT‡e	−$9.8M	−1,000,000	$9.8M	$0	1,000,000	—
position key `sid:sec:prov:65111c06a55f0b865ec0893cf8e2c1bd` · issuer key `cusip6:G9471C` SHS NEW CALL	EXIT‡e	−$5.3M	−1,000,000	$5.3M	$0	1,000,000	—
sid:sec:prov:d9982c715efb91f9b2000022a280a1b1	EXIT‡e	−$11.4M	−500,000	$11.4M	$0	500,000	—

Flags: no row carries a flag.

1–20 of the 93 changes on this page

Mark-to-market only (no share change) · 16

Positions whose share count is identical in both quarters; the value changed with price, not with a decision.

Positions held with no share change into quarter 2026-03-31
position matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match `identity_reconciled_by_cusip`	the reported share count is unchanged across the pair; this build's data classified the change from its reported value; builds from 2026-09-10 on read it as NO CHANGE `classified_by_value` · EXIT = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · NO CHANGE = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an ADD or a TRIM (NEW / ADD / TRIM / EXIT / NO CHANGE) · NO PRIOR = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stake	derived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zero	Prev value	Curr value	Prev shares	Curr shares
position key `pos:15694` · issuer key `iss:72` SPONSORED ADS CALL	NO CHANGE	−$21.1M	$147M	$125M	1,000,000	1,000,000
position key `pos:12359` · issuer key `iss:566` COM NEW	NO CHANGE	−$2.9M	$69.4M	$66.5M	1,000,000	1,000,000
position key `pos:13464` · issuer key `iss:303` COM CALL	NO CHANGE	+$9.2M	$45.1M	$54.3M	1,000,000	1,000,000
position key `pos:16476` · issuer key `iss:19` COM CL A	NO CHANGE	+$5.1M	$36.3M	$41.4M	500,000	500,000
position key `pos:12472` · issuer key `iss:1269` COM	NO CHANGE	+$6.4M	$31.3M	$37.6M	2,000,000	2,000,000
position key `pos:12296` · issuer key `iss:237` ADR	NO CHANGE	−$4.3M	$25.5M	$21.2M	1,000,000	1,000,000
position key `pos:13012` · issuer key `iss:1797` COM	NO CHANGE	−$13.4M	$31.6M	$18.2M	2,000,000	2,000,000
position key `pos:11956` · issuer key `iss:1317` SPONSORED ADR	NO CHANGE	+$3.1M	$12.9M	$16.1M	2,000,000	2,000,000
position key `pos:17943` · issuer key `iss:933` COM	NO CHANGE	+$3.3M	$10.0M	$13.3M	1,000,000	1,000,000
position key `pos:14116` · issuer key `iss:663` COM	NO CHANGE	−$4.3M	$14.6M	$10.4M	2,000,000	2,000,000
position key `sid:sec:prov:f32900aad8f1098a75a7540de279c057` · issuer key `cusip6:G33856` SHS	NO CHANGE	−$1.0M	$9.3M	$8.2M	2,000,000	2,000,000
position key `sid:sec:prov:db86a5af956d7c6093af99afe588d598` · issuer key `cusip6:03464Y` COM	NO CHANGE	−$390K	$8.6M	$8.2M	1,000,000	1,000,000
position key `sid:sec:prov:1eabbea4ad52d87442fc2c9de16a9e96` · issuer key `cusip6:54948X` COM	NO CHANGE	+$240K	$4.4M	$4.6M	4,000,000	4,000,000
position key `pos:12066` · issuer key `iss:1464` COM NEW	NO CHANGE	+$290K	$2.0M	$2.3M	1,000,000	1,000,000
position key `sid:sec:prov:f309fd20b3ad4e615ae4aab363b9fa0c` · issuer key `cusip6:64131A` COM	NO CHANGE	+$70.0K	$1.4M	$1.5M	1,000,000	1,000,000
position key `sid:sec:prov:31bd096d76f11be58e8f9b95ba95be3f` · issuer key `cusip6:644393` COM CL A	NO CHANGE	−$550K	$1.1M	$590K	1,000,000	1,000,000

Flags: no row carries a flag.

Newest filing in this build: 2026-07-31. Per-row filing dates are on each receipt.

Truncated by Public Filings. Changes compare every position with a security identifier, new and exited included; holdings without one are counted, not compared. methodology §13F ↗

Reported positions — 2026-03-31

1–71 of 71 issuers · $3.0B disclosed value over 98 rows · 0 undisclosed-value rows

View

This build carries one quarter for this manager: 2026-03-31. Notable managers carry four published quarters, others two.

This list carries reported issuer names and security identities, without a dated ticker mapping. Symbols are not inferred from names.

a position composed from a base filing plus NEW-HOLDINGS amendments keeps every source row here; the composition's latest filed date is the one shown served from this build's published holdings (derived from the filer's own reported rows); every row resolves to its filing

Share of total reported value, calculated only when the full position list has disclosed values. This is 13F long value, not total assets.

value undisclosed on the filing: retained and counted, excluded from sums, never shown as $0

—

ISHARES TR · 20 YR TR BD ETF · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$347M

4,000,000

11.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

CITIGROUP INC

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for CITIGROUP INC, as it reported them
CITIGROUP INC · COM NEW · CALL CUSIP — src ↗	$113M	1,000,000
CITIGROUP INC · COM NEW · CALL CUSIP — src ↗	$113M	1,000,000

$227M

2,000,000

7.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

UNITED PARCEL SVCS INC

2 positions · 4 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for UNITED PARCEL SVCS INC, as it reported them
UNITED PARCEL SVCS INC · CL B · CALL CUSIP — src ↗	$98.4M	1,000,000
UNITED PARCEL SVCS INC · CL B · CALL CUSIP — src ↗	$49.2M	500,000
UNITED PARCEL SVCS INC · CL B CUSIP — src ↗	$49.2M	500,000
UNITED PARCEL SVCS INC · CL B · CALL CUSIP — src ↗	$29.5M	300,000

$226M

2,300,000

7.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

DELTA AIR LINES INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for DELTA AIR LINES INC, as it reported them
DELTA AIR LINES INC · COM NEW CUSIP — src ↗	$66.5M	1,000,000
DELTA AIR LINES INC · COM NEW · PUT CUSIP — src ↗	$66.5M	1,000,000

$133M

2,000,000

4.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

INTEL CORP

1 position · 3 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for INTEL CORP, as it reported them
INTEL CORP · COM · CALL CUSIP — src ↗	$44.1M	1,000,000
INTEL CORP · COM · CALL CUSIP — src ↗	$44.1M	1,000,000
INTEL CORP · COM · CALL CUSIP — src ↗	$44.1M	1,000,000

$132M

3,000,000

4.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ALIBABA GROUP HLDG LTD · SPONSORED ADS · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$125M

1,000,000

4.1%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

INTERNATIONAL BUSINESS MACHS · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$121M

500,000

4.0%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

GENERAL MTRS CO

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for GENERAL MTRS CO, as it reported them
GENERAL MTRS CO · COM · CALL CUSIP — src ↗	$74.5M	1,000,000
GENERAL MTRS CO · COM · CALL CUSIP — src ↗	$22.4M	300,000

$96.9M

1,300,000

3.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

AST SPACEMOBILE INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for AST SPACEMOBILE INC, as it reported them
AST SPACEMOBILE INC · COM CL A · CALL CUSIP — src ↗	$41.4M	500,000
AST SPACEMOBILE INC · COM CL A CUSIP — src ↗	$41.4M	500,000

$82.9M

1,000,000

2.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

WAYFAIR INC

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for WAYFAIR INC, as it reported them
WAYFAIR INC · CL A · CALL CUSIP — src ↗	$75.2M	1,000,000
WAYFAIR INC · CL A · CALL CUSIP — src ↗	$7.5M	100,000

$82.7M

1,100,000

2.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

MOHAWK INDS INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for MOHAWK INDS INC, as it reported them
MOHAWK INDS INC · COM CUSIP — src ↗	$49.2M	500,000
MOHAWK INDS INC · COM · CALL CUSIP — src ↗	$29.5M	300,000

$78.8M

800,000

2.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

FLUOR CORP

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for FLUOR CORP, as it reported them
FLUOR CORP · COM CUSIP — src ↗	$43.2M	925,000
FLUOR CORP · COM · CALL CUSIP — src ↗	$20.1M	430,000

$63.2M

1,355,000

2.1%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BRISTOL-MYERS SQUIBB CO · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$60.7M

1,000,000

2.0%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

AIR PRODUCTS AND CHEMICALS I · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$58.1M

200,000

1.9%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ORMAT TECHNOLOGIES INC

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for ORMAT TECHNOLOGIES INC, as it reported them
ORMAT TECHNOLOGIES INC · COM · CALL CUSIP — src ↗	$33.6M	300,000
ORMAT TECHNOLOGIES INC · COM · CALL CUSIP — src ↗	$22.4M	200,000

$56.0M

500,000

1.8%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BORGWARNER INC · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$54.3M

1,000,000

1.8%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ECOLAB INC · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$53.2M

200,000

1.8%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

CLOROX CO DEL · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$51.8M

500,000

1.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

SLB LIMITED · COM STK · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$51.4M

1,000,000

1.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

FREEPORT MCMORAN INC · CL B · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$47.0M

800,000

1.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

YPF SOCIEDAD ANONIMA

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for YPF SOCIEDAD ANONIMA, as it reported them
YPF SOCIEDAD ANONIMA · SPON ADR CL D · CALL CUSIP — src ↗	$23.1M	500,000
YPF SOCIEDAD ANONIMA · SPON ADR CL D · CALL CUSIP — src ↗	$23.1M	500,000

$46.2M

1,000,000

1.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BARCLAYS PLC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for BARCLAYS PLC, as it reported them
BARCLAYS PLC · ADR · CALL CUSIP — src ↗	$21.2M	1,000,000
BARCLAYS PLC · ADR CUSIP — src ↗	$21.2M	1,000,000

$42.3M

2,000,000

1.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BOEING CO

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for BOEING CO, as it reported them
BOEING CO · COM · CALL CUSIP — src ↗	$19.9M	100,000
BOEING CO · COM · CALL CUSIP — src ↗	$19.9M	100,000

$39.8M

200,000

1.3%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

NOV INC · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$37.6M

2,000,000

1.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ARCHER DANIELS MIDLAND CO · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$36.3M

500,000

1.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

THE REALREAL INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for THE REALREAL INC, as it reported them
THE REALREAL INC · COM · CALL CUSIP — src ↗	$18.2M	2,000,000
THE REALREAL INC · COM CUSIP — src ↗	$18.2M	2,000,000

$36.3M

4,000,000

1.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

CVS HEALTH CORP · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$35.9M

500,000

1.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

IONQ INC

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for IONQ INC, as it reported them
IONQ INC · COM · CALL CUSIP — src ↗	$28.8M	1,000,000
IONQ INC · COM · CALL CUSIP — src ↗	$2.9M	100,000

$31.7M

1,100,000

1.0%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BOSTON SCIENTIFIC CORP · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$31.4M

500,000

1.0%

—

FIREFLY AEROSPACE INC · COM · CALL CUSIP 31816X106
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$28.5M

1,000,000

0.9%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

FIFTH THIRD BANCORP · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$27.9M

600,000

0.9%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

CLEVELAND-CLIFFS INC NEW

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for CLEVELAND-CLIFFS INC NEW, as it reported them
CLEVELAND-CLIFFS INC NEW · COM · CALL CUSIP — src ↗	$16.9M	2,000,000
CLEVELAND-CLIFFS INC NEW · COM CUSIP — src ↗	$10.1M	1,200,000

$27.0M

3,200,000

0.9%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

FASTLY INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for FASTLY INC, as it reported them
FASTLY INC · CL A · CALL CUSIP — src ↗	$14.5M	500,000
FASTLY INC · CL A CUSIP — src ↗	$8.7M	300,000

$23.2M

800,000

0.8%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

NCR VOYIX CORPORATION · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$22.2M

3,500,000

0.7%

—

BRAINSWAY LTD · SPONSORED ADS CUSIP 10501L106
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$21.9M

1,650,000

0.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

DAUCH CORP · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$20.8M

3,500,000

0.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ALCOA CORP · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$19.9M

300,000

0.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

TRANSOCEAN LTD

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for TRANSOCEAN LTD, as it reported them
TRANSOCEAN LTD · REGISTERED SHS CUSIP — src ↗	$13.3M	2,000,000
TRANSOCEAN LTD · REGISTERED SHS · CALL CUSIP — src ↗	$6.6M	1,000,000

$19.9M

3,000,000

0.7%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

HORMEL FOODS CORP · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$19.3M

850,000

0.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

LIONSGATE STUDIOS CORP · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$19.1M

1,994,814

0.6%

—

FLOTEK INDUSTRIES INC · COM NEW CUSIP 343389409
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$18.5M

1,089,438

0.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

PONY AI INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for PONY AI INC, as it reported them
PONY AI INC · SPONSORED ADS · CALL CUSIP — src ↗	$9.4M	1,000,000
PONY AI INC · SPONSORED ADS CUSIP — src ↗	$9.0M	950,000

$18.4M

1,950,000

0.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

INTERNATIONAL PAPER CO · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$17.9M

500,000

0.6%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

NOKIA CORP · SPONSORED ADR CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$16.1M

2,000,000

0.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ENOVIX CORPORATION

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for ENOVIX CORPORATION, as it reported them
ENOVIX CORPORATION · COM CUSIP — src ↗	$10.4M	2,000,000
ENOVIX CORPORATION · COM · CALL CUSIP — src ↗	$5.2M	1,000,000

$15.5M

3,000,000

0.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

EASTMAN CHEM CO · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$15.3M

200,000

0.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

MOBILEYE GLOBAL INC

2 positions · 3 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for MOBILEYE GLOBAL INC, as it reported them
MOBILEYE GLOBAL INC · COMMON CLASS A · CALL CUSIP — src ↗	$6.9M	1,000,000
MOBILEYE GLOBAL INC · COMMON CLASS A · CALL CUSIP — src ↗	$6.9M	1,000,000
MOBILEYE GLOBAL INC · COMMON CLASS A CUSIP — src ↗	$687K	100,000

$14.4M

2,100,000

0.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

VENTURE GLOBAL INC

1 position · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for VENTURE GLOBAL INC, as it reported them
VENTURE GLOBAL INC · COM CL A · CALL CUSIP — src ↗	$7.9M	500,000
VENTURE GLOBAL INC · COM CL A · CALL CUSIP — src ↗	$6.0M	380,000

$13.9M

880,000

0.5%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

HUNTSMAN CORP · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$13.3M

1,000,000

0.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

LYFT INC

2 positions · 2 reported rows

Rows MASTERS CAPITAL MANAGEMENT LLC reported for LYFT INC, as it reported them
LYFT INC · CL A COM · CALL CUSIP — src ↗	$6.7M	500,000
LYFT INC · CL A COM CUSIP — src ↗	$6.7M	500,000

$13.3M

1,000,000

0.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

NEXGEN ENERGY LTD · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$11.6M

1,000,000

0.4%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

BORR DRILLING LTD · SHS CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$11.5M

2,000,000

0.4%

—

DENALI THERAPEUTICS INC · COM CUSIP 24823R105
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$11.5M

600,000

0.4%

—

BETA TECHNOLOGIES INC · COM SHS CL A CUSIP 086921103
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$10.3M

700,000

0.3%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

APPLIED OPTOELECTRONICS INC · COM · CALL CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$8.5M

100,000

0.3%

—

TELOS CORP MD · COM CUSIP 87969B101
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$8.4M

2,000,000

0.3%

—

FERROGLOBE PLC · SHS CUSIP G33856108
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$8.2M

2,000,000

0.3%

—

ANGEL OAK MORTGAGE REIT INC · COM CUSIP 03464Y108
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$8.2M

1,000,000

0.3%

—

VERTICAL AEROSPACE LTD · SHS NEW CUSIP G9471C206
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$7.5M

3,400,000

0.2%

—

ISOENERGY LTD · COM NEW CUSIP 46500E867
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$7.4M

700,000

0.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

SUNRUN INC · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$6.8M

500,000

0.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

VERADERMICS INC · COMMON STOCK CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$6.3M

100,000

0.2%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

IAMGOLD CORP · COM CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$5.6M

300,000

0.2%

—

EVE HLDG INC · COM CUSIP 29970N104
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$5.0M

2,000,000

0.2%

—

LUCID DIAGNOSTICS INC · COM CUSIP 54948X109
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$4.6M

4,000,000

0.2%

—

SENSEONICS HLDGS INC · COM CUSIP 81727U303
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$3.3M

500,000

0.1%

—

INTEGRA RES CORP · COM CUSIP 45826T509
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$2.7M

1,000,000

0.1%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

PLUG PWR INC · COM NEW CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$2.3M

1,000,000

0.1%

verified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

WHEELS UP EXPERIENCE INC · COM CL A CUSIP —
2026-03-31 filed 2026-05-15 +45d

src ↗

$2.1M

4,000,000

0.1%

—

NEURONETICS INC · COM CUSIP 64131A105
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$1.5M

1,000,000

0.0%

—

NEW FORTRESS ENERGY INC · COM CL A CUSIP 644393100
2026-03-31 filed 2026-05-15 +45d

src ↗

ticker not yet mapped

$590K

1,000,000

0.0%

1–20 of 71 issuers

Change kind and share change are in Position changes above; Congress overlap is planned.

One line per issuer, largest first; a row with no issuer key stands on its own line. Open a line for its rows as this filer reported them. The list holds every row this filer reported for the quarter. Issuer totals on the holders pages count each manager's own report once; that never removes a row here. how positions are grouped ↗

Book shape

2026-03-31 · concentration · vs tracked median · tick = median

Top-25 concentration: 72.2%below median 80.0%
Concentration index: 360 bpsbelow median 446 bps
Positions with value: 98 / 98median book 97.5 positions

Concentration uses reported 13F long value, not total assets. The index is withheld when any position lacks a value. Medians are over the 8,748 tracked filers with a 2026-03-31 book; the index median over the 8,662 with a complete book.

holdings whose <value> did not parse — retained and counted, never zero-filled: 0 · share of the period's disclosed value held in the top-N positions; denominator is reported 13F value, not total assets: 72.2% · integer Herfindahl–Hirschman index in basis points over disclosed position values: 360 · QoQ moves: 109

Filing history

AVAILABLE QUARTERS

Available filing periods
Period	Source
2026-03-31	EDGAR ↗

PLANNED sector rotation · Congress overlap · signals for this filer

Complete source filings on SEC EDGAR

The complete filing on EDGAR.

The position list above is served from the published Public Filings build, each position as this filer reported it; where the page cannot embed every reported row, the list says how many it leaves out. This block is provenance, not a substitute: the filing itself is the record, and it is one click away. Public Filings decided on 2026-08-01 to serve this list from its published build; filings newer than this build are on EDGAR.

Open MASTERS CAPITAL MANAGEMENT LLC's 13F filings on SEC EDGAR ↗

Notes on this data

Reported positions

Quarter-end holdings as filed

Explore the full published position list and its source filing. This record excludes the manager’s cash, shorts and non-13(f) assets.

Share changes

Compare consecutive quarters

Position changes retain the producer’s classification and comparability flags. Share counts and reported values describe different changes.

Coverage

A snapshot, not current holdings

Use the quarter selector to inspect available periods. Unknown values stay unknown and each table states its coverage.

A 13F is a quarterly, long-only snapshot filed up to 45 days late — not current holdings. what a 13F covers ↗

13F reports cover LONG positions in Section 13(f) securities (US exchange-traded equities plus reportable options, warrants, certain convertibles) held by managers with at least $100M in such securities — so managers below that threshold are absent entirely. No short positions, no cash, no non-13(f) assets — not a full portfolio, and not a census of institutional ownership.

Positions are quarter-end snapshots filed up to 45 days late — not current holdings. A position may have been changed or closed before you ever see it, and is older still by however long ago that quarter ended.

Values are the manager's stated market value at quarter-end in era-dependent units (whole dollars for form versions effective 2023-01-03 onward, thousands before), normalized here to whole dollars with unit_basis carried on every record.

Affiliated managers may report the same position (otherManager), so one position can appear under more than one filer.

Positions under confidential treatment may be omitted until a later amendment discloses them.

These are disclosures, not investment advice (ARCHITECTURE.md §5.2 / M2-CONTRACT §5).