Masters Capital Management LLC holds a focused book of 44 stocks worth $677.0M as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Hormel Foods Corp and trimmed Fluor Corp. Their largest long position is Delta Air Lines Inc at 10% of the equity book. They also disclosed $66.5M in put options (a bearish bet) and $2.3B in call options (bullish), shown separately below and excluded from the equity book.
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curl -H "Authorization: Bearer YOUR_API_KEY" \ "https://arkolith.com/api/v1/funds/1104186/holdings"
Use Arkolith to show MASTERS CAPITAL MANAGEMENT LLC's latest holdings, largest changes, and filing provenance.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
100% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Delta Air Lines Inc COM NEW | $66.5M | 1.00M | 9.8% | —Held | |
| 2 | Mohawk Inds Inc COM | $49.2M | 500.0K | 7.3% | ▲+25% Added · +100K sh | |
| 3 | United Parcel Svcs Inc CL B | $49.2M | 500.0K | 7.3% | ▲+67% Added · +200K sh | |
| 4 | Fluor Corp COM | $43.2M | 925.0K | 6.4% | ▼−16% Reduced · −175K sh | |
| 5 | Ast Spacemobile Inc COM CL A | $41.4M | 500.0K | 6.1% | —Held | |
| 6 | Nov Inc COM | $37.6M | 2.00M | 5.6% | —Held | |
| 7 | NCR Voyix Corporation COM | $22.2M | 3.50M | 3.3% | ▲+17% Added · +500K sh | |
| 8 | Brainsway Ltd SPONSORED ADS | $21.9M | 1.65M | 3.2% | ▲+65% Added · +650K sh | |
| 9 | Barclays PLC ADR | $21.2M | 1.00M | 3.1% | —Held | |
| 10 | Dauch Corp COM | $20.8M | 3.50M | 3.1% | ▲+17% Added · +500K sh | |
| 11 | Hormel Foods Corp COM | $19.3M | 850.0K | 2.8% | ▲New New position | |
| 12 | Lionsgate Studios Corp COM | $19.1M | 1.99M | 2.8% | ▼−0.3% Reduced · −5K sh | |
| 13 | Flotek Industries Inc COM NEW | $18.5M | 1.09M | 2.7% | ▲+8.9% Added · +89K sh | |
| 14 | The Realreal Inc COM | $18.2M | 2.00M | 2.7% | —Held | |
| 15 | Nokia Corp SPONSORED ADR | $16.1M | 2.00M | 2.4% | —Held | |
| 16 | Eastman Chem Co COM | $15.3M | 200.0K | 2.3% | ▼−33% Reduced · −100K sh | |
| 17 | Huntsman Corp COM | $13.3M | 1.00M | 2.0% | —Held | |
| 18 | Transocean Ltd REGISTERED SHS | $13.3M | 2.00M | 2.0% | ▲+100% Added · +1.0M sh | |
| 19 | Nexgen Energy Ltd COM | $11.6M | 1.00M | 1.7% | ▼−50% Reduced · −1.0M sh | |
| 20 | Borr Drilling Ltd SHS | $11.5M | 2.00M | 1.7% | ▼−31% Reduced · −900K sh | |
| 21 | Denali Therapeutics Inc COM | $11.5M | 600.0K | 1.7% | ▼−40% Reduced · −400K sh | |
| 22 | Enovix Corporation COM | $10.4M | 2.00M | 1.5% | —Held | |
| 23 | Beta Technologies Inc COM SHS CL A | $10.3M | 700.0K | 1.5% | ▲New New position | |
| 24 | Cleveland-Cliffs Inc New COM | $10.1M | 1.20M | 1.5% | ▲+20% Added · +200K sh | |
| 25 | Pony AI Inc SPONSORED ADS | $9.0M | 950.0K | 1.3% | ▼−21% Reduced · −250K sh | |
| 26 | Fastly Inc CL A | $8.7M | 300.0K | 1.3% | ▲New New position | |
| 27 | Telos Corp MD COM | $8.4M | 2.00M | 1.2% | ▼−4.8% Reduced · −100K sh | |
| 28 | Ferroglobe PLC SHS | $8.2M | 2.00M | 1.2% | —Held | |
| 29 | Angel Oak Mortgage REIT Inc COM | $8.2M | 1.00M | 1.2% | —Held | |
| 30 | Vertical Aerospace Ltd SHS NEW | $7.5M | 3.40M | 1.1% | ▲+70% Added · +1.4M sh | |
| 31 | Isoenergy Ltd COM NEW | $7.4M | 700.0K | 1.1% | ▲New New position | |
| 32 | Sunrun Inc COM | $6.8M | 500.0K | 1.0% | ▲New New position | |
| 33 | Lyft Inc CL A COM | $6.7M | 500.0K | 1.0% | ▲New New position | |
| 34 | Veradermics Inc COMMON STOCK | $6.3M | 100.0K | 0.9% | ▲New New position | |
| 35 | Iamgold Corp COM | $5.6M | 300.0K | 0.8% | ▲New New position | |
| 36 | Eve Hldg Inc COM | $5.0M | 2.00M | 0.7% | ▼−4.8% Reduced · −100K sh | |
| 37 | Lucid Diagnostics Inc COM | $4.6M | 4.00M | 0.7% | —Held | |
| 38 | Senseonics Hldgs Inc COM | $3.3M | 500.0K | 0.5% | ▲+100% Added · +250K sh | |
| 39 | Integra Res Corp COM | $2.7M | 1.00M | 0.4% | ▲New New position | |
| 40 | Plug PWR Inc COM NEW | $2.3M | 1.00M | 0.3% | —Held | |
| 41 | Wheels Up Experience Inc COM CL A | $2.1M | 4.00M | 0.3% | ▼−20% Reduced · −1.0M sh | |
| 42 | Neuronetics Inc COM | $1.4M | 1.00M | 0.2% | —Held | |
| 43 | Mobileye Global Inc COMMON CLASS A | $687K | 100.0K | 0.1% | ▲New New position | |
| 44 | New Fortress Energy Inc COM CL A | $590K | 1.00M | 0.1% | —Held |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| CALL · bullish | ISHARES 20+ YEAR TREASURY BDTLT | $346.8M | 4.0M |
| CALL · bullish | CITIGROUP INCC | $226.8M | 2.0M |
| CALL · bullish | UNITED PARCEL SERVICE-CL BUPS | $177.1M | 1.8M |
| CALL · bullish | INTEL CORPINTC | $132.4M | 3.0M |
| CALL · bullish | ALIBABA GROUP HOLDING-SP ADRBABA | $125.5M | 1.0M |
| CALL · bullish | INTL BUSINESS MACHINES CORPIBM | $121.2M | 500K |
| CALL · bullish | GENERAL MOTORS COGM | $96.8M | 1.3M |
| CALL · bullish | WAYFAIR INC- CLASS AW | $82.7M | 1.1M |
| PUT · bearish | DELTA AIR LINES INCDAL | $66.5M | 1.0M |
| CALL · bullish | BRISTOL-MYERS SQUIBB COBMY | $60.6M | 1.0M |
| CALL · bullish | AIR PRODUCTS & CHEMICALS INCAPD | $58.1M | 200K |
| CALL · bullish | ORMAT TECHNOLOGIES INCORA | $56.0M | 500K |
| CALL · bullish | BORGWARNER INCBWA | $54.3M | 1.0M |
| CALL · bullish | ECOLAB INCECL | $53.2M | 200K |
| CALL · bullish | CLOROX COMPANYCLX | $51.8M | 500K |
| CALL · bullish | SLB LTDSLB | $51.4M | 1.0M |
| CALL · bullish | FREEPORT-MCMORAN INCFCX | $47.0M | 800K |
| CALL · bullish | YPF S.A.-SPONSORED ADRYPF | $46.2M | 1.0M |
| CALL · bullish | AST SPACEMOBILE INCASTS | $41.4M | 500K |
| CALL · bullish | BOEING CO/THEBA | $39.8M | 200K |
| CALL · bullish | ARCHER-DANIELS-MIDLAND COADM | $36.3M | 500K |
| CALL · bullish | CVS HEALTH CORPCVS | $35.9M | 500K |
| CALL · bullish | IONQ INCIONQ | $31.7M | 1.1M |
| CALL · bullish | BOSTON SCIENTIFIC CORPBSX | $31.4M | 500K |
| CALL · bullish | MOHAWK INDUSTRIES INCMHK | $29.5M | 300K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above. Showing the largest 25 of 41 option legs.
As-of date vs the date the SEC received each filing
| Quarter | As of | Filed | Positions | Value | Form |
|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 15, 2026 | 98 | $3.0B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 17, 2026 | 85 | $2.5B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 83 | $2.8B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 14, 2025 | 80 | $2.6B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 15, 2025 | 82 | $2.0B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 14, 2025 | 90 | $2.7B | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Nov 14, 2024 | 72 | $2.1B | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 14, 2024 | 70 | $1.8B | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 79 | $2.8B | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 14, 2024 | 69 | $2.4B | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Nov 14, 2023 | 63 | $1.8B | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 14, 2023 | 67 | $2.5B | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 15, 2023 | 64 | $2.0B | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 14, 2023 | 55 | $1.3B | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 14, 2022 | 45 | $1.4B | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 15, 2022 | 64 | $2.1B | 13F-HR |
| Q1 2022 | Mar 31, 2022 | May 16, 2022 | 75 | $2.5B | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 14, 2022 | 70 | $2.5B | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 15, 2021 | 78 | $2.4B | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 16, 2021 | 79 | $3.4B | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 17, 2021 | 75 | $3.0B | 13F-HR |
| Q4 2020 | Dec 31, 2020 | Feb 16, 2021 | 77 | $1.7B | 13F-HR |
| Q3 2020 | Sep 30, 2020 | Nov 16, 2020 | 61 | $1.5B | 13F-HR |
| Q2 2020 | Jun 30, 2020 | Aug 14, 2020 | 57 | $885.1M | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.