Masters Capital Management LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Masters Capital Management LLC disclosed 43 US equity positions worth $622.5m in its Q3 2025 13F filing. The largest position was DAL at 9.1% of the reported book, followed by FLR and EMN. Against the Q2 2025 filing, it opened 11 new positions, added to 8 and reduced 1 among the top 43 holdings.
What did Masters Capital Management LLC own in Q3 2025? Top 43 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | DAL DELTA AIR LINES INC DEL | Industrials | 9.1% | $56.8m | 1,000,000 | 0% | held |
| 2 | FLR FLUOR CORP NEW | Industrials | 6.8% | $42.1m | 1,000,000 | 0% | held |
| 3 | EMN EASTMAN CHEM CO | Basic Materials | 5.1% | $31.5m | 500,000 | 100% | added |
| 4 | NOV NOV INC | Energy | 4.3% | $26.5m | 2,000,000 | 0% | held |
| 5 | VYX NCR VOYIX CORPORATION | Technology | 4.2% | $26.4m | 2,100,000 | 11% | added |
| 6 | UPS UNITED PARCEL SERVICE INC | Industrials | 4.0% | $25.1m | 300,000 | 0% | held |
| 7 | ASTS AST SPACEMOBILE INC | Technology | 3.9% | $24.5m | 500,000 | 0% | held |
| 8 | CLF CLEVELAND-CLIFFS INC NEW | Basic Materials | 3.9% | $24.4m | 2,000,000 | 0% | held |
| 9 | PONY PONY AI INC | Technology | 3.6% | $22.5m | 1,000,000 | 0% | held |
| 10 | BCS BARCLAYS PLC | Financial Services | 3.3% | $20.7m | 1,000,000 | 0% | held |
| 11 | ENVX ENOVIX CORPORATION | Industrials | 3.2% | $19.9m | 2,000,000 | 0% | held |
| 12 | ADM ARCHER DANIELS MIDLAND CO | Consumer Defensive | 2.9% | $17.9m | 300,000 | – | new |
| 13 | NXE NEXGEN ENERGY LTD | Energy | 2.9% | $17.9m | 2,000,000 | 0% | held |
| 14 | BWAY BRAINSWAY LTD | 2.4% | $15.1m | 1,000,000 | 0% | held | |
| 15 | FTK FLOTEK INDS INC DEL | 2.3% | $14.6m | 1,000,000 | 0% | held | |
| 16 | VFC V F CORP | Consumer Cyclical | 2.3% | $14.4m | 1,000,000 | 0% | held |
| 17 | LION LIONSGATE STUDIOS CORP | 2.2% | $13.8m | 2,000,000 | 0% | held | |
| 18 | OLN OLIN CORP | Basic Materials | 2.2% | $13.7m | 550,000 | – | new |
| 19 | TLS TELOS CORP MD | 2.2% | $13.7m | 2,000,000 | 0% | held | |
| 20 | MHK MOHAWK INDS INC | Consumer Cyclical | 2.1% | $12.9m | 100,000 | – | new |
| 21 | PBR PETROLEO BRASILEIRO SA PETRO | Energy | 2.0% | $12.7m | 1,000,000 | 0% | held |
| 22 | EVEX EVE HLDG INC | 1.9% | $11.6m | 3,050,000 | 52% | added | |
| 23 | DOW DOW INC | Basic Materials | 1.8% | $11.5m | 500,000 | 400% | added |
| 24 | DNLI DENALI THERAPEUTICS INC | Healthcare | 1.7% | $10.9m | 750,000 | 25% | added |
| 25 | VALE VALE S A | Basic Materials | 1.7% | $10.9m | 1,000,000 | – | new |
| 26 | CRC CALIFORNIA RES CORP | Energy | 1.7% | $10.6m | 200,000 | – | new |
| 27 | REAL THE REALREAL INC | Consumer Cyclical | 1.7% | $10.6m | 1,000,000 | – | new |
| 28 | ACHR ARCHER AVIATION INC | 1.5% | $9.6m | 999,700 | -0% | held | |
| 29 | AOMR ANGEL OAK MORTGAGE REIT INC | 1.5% | $9.4m | 1,000,000 | 0% | held | |
| 30 | GSM FERROGLOBE PLC | Basic Materials | 1.5% | $9.1m | 2,000,000 | 0% | held |
| 31 | BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 1.4% | $9.0m | 200,000 | -20% | reduced |
| 32 | GPRE GREEN PLAINS INC | Basic Materials | 1.4% | $8.8m | 1,000,000 | 0% | held |
| 33 | BORR BORR DRILLING LTD | Energy | 1.3% | $8.1m | 3,000,000 | 43% | added |
| 34 | DCH AMERICAN AXLE & MFG HLDGS IN | Consumer Cyclical | 1.2% | $7.2m | 1,200,000 | – | new |
| 35 | DQ DAQO NEW ENERGY CORP | Technology | 0.9% | $5.6m | 200,000 | – | new |
| 36 | CE CELANESE CORP DEL | Basic Materials | 0.7% | $4.2m | 100,000 | – | new |
| 37 | LUCD LUCID DIAGNOSTICS INC | 0.6% | $4.0m | 3,999,273 | 47% | added | |
| 38 | RIG TRANSOCEAN LTD | Energy | 0.5% | $3.1m | 1,000,000 | – | new |
| 39 | STIM NEURONETICS INC | Healthcare | 0.4% | $2.7m | 1,000,000 | 0% | held |
| 40 | PLUG PLUG POWER INC | Industrials | 0.4% | $2.3m | 1,000,000 | 0% | held |
| 41 | NFE NEW FORTRESS ENERGY INC | Energy | 0.4% | $2.2m | 1,000,000 | – | new |
| 42 | SENS SENSEONICS HLDGS INC | Healthcare | 0.4% | $2.2m | 5,000,000 | 11% | added |
| 43 | UP WHEELS UP EXPERIENCE INC | 0.3% | $1.8m | 1,000,000 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.