Masters Capital Management
Masters Capital Management reported 42 stocks worth $711M in its 13F filing for Q2 2026, filed Aug 14, 2026. Its largest holdings are DAL (13.2%), FLR (7.4%) and ASTS (6.3%). Compared with Q1 2026, the fund opened new positions in TEX, CE and BSX, added to FLR, NOV and VYX, trimmed UPS, FTK and BWAY and sold out of NOK, HUN and CLF.
Holdings
| # | Stock | Value | Weight | Shares | Change | Shares, 8 qtrs | Held |
|---|---|---|---|---|---|---|---|
| 1 |  DAL Delta Air Lines Inc Del | $93.7M | 13.2% | 1M | No change | 8 of 8 | |
| 2 |  FLR Fluor Corp New | $52.4M | 7.4% | 1M | +75K (+8%) | 8 of 8 | |
| 3 |  ASTS Ast Spacemobile Inc | $44.4M | 6.3% | 500K | No change | 8 of 8 | |
| 4 |  NOV Nov Inc | $40.8M | 5.7% | 2.2M | +200K (+10%) | 8 of 8 | |
| 5 |  VYX Ncr Voyix Corporation | $32.7M | 4.6% | 4M | +500K (+14%) | 6 of 8 | |
| 6 |  UPS United Parcel Service Inc | $32.3M | 4.5% | 300K | −200K (−40%) | 6 of 8 | |
| 7 |  LION Lionsgate Studios Corp | $30.5M | 4.3% | 2M | No change | 5 of 8 | |
| 8 |  BCS Barclays PLC | $26.9M | 3.8% | 1M | No change | 8 of 8 | |
| 9 |  EMN Eastman Chem Co | $26.8M | 3.8% | 400K | +200K (+100%) | 6 of 8 | |
| 10 |  HRL Hormel Foods Corp | $24.8M | 3.5% | 1M | +150K (+18%) | 2 of 8 |
Positions at Jun 30, 2026, as reported. Change is against the fund's Q1 2026 filing; weight is the share of the fund's reported stocks.
Sold out
held in Q1 2026, gone in Q2 2026| Stock | Value last quarter | Shares sold |
|---|---|---|
 NOK Nokia Corp | $16.1M | 2M |
 HUN Huntsman Corp | $13.3M | 1M |
 CLF Cleveland-Cliffs Inc New | $10.1M | 1.2M |
 FSLY Fastly Inc | $8.7M | 300K |
 LYFT Lyft Inc | $6.7M | 500K |
🔒 Free account: see all 9.
Options
valued at the underlying shares| Stock | Type | Value | Shares | Change |
|---|---|---|---|---|
 SPY Spdr S&P 500 ETF TR | Put | $747M | 1M | +1,000,000 |
 BA Boeing Co | Call | $216M | 1M | +800,000 |
 BABA Alibaba Group Hldg Ltd F | Call | $192M | 2M | +1,000,000 |
 NEM Newmont Corp | Call | $187M | 2M | +2,000,000 |
 ACN Accenture PLC Ireland | Call | $162M | 1.3M | +1,300,000 |
🔒 Free account: see all 20.
Reported value
last 8 quartersThe value of the US stocks the fund reported, at quarter end prices. It moves with the market as well as with buying and selling.
Filings for Q2 2026
straight from the SEC| Filed | Form | Quarter | |
|---|---|---|---|
| Aug 14, 2026 | 13F-HR | Q2 2026 | SEC filing ↗ |
Other superinvestors
All hedge fund holdings →Masters Capital Management 13F FAQ
What does Masters Capital Management own?
Masters Capital Management reported 42 stocks worth $711M in its 13F filing for Q2 2026, filed Aug 14, 2026. Its largest holdings are DAL (13.2%), FLR (7.4%) and ASTS (6.3%). The table above lists every position in the filing (the top 10 without an account).
What did Masters Capital Management buy and sell in Q2 2026?
Compared with Q1 2026: 7 new positions, 9 added to, 8 trimmed and 9 sold out. New positions include TEX, CE and BSX. It sold all of NOK, HUN and CLF.
When will Masters Capital Management file its next 13F?
Holdings as of Sep 30, 2026 are due by Nov 16, 2026. The filing appears on this page within minutes of reaching the SEC.
How much is Masters Capital Management's portfolio worth?
The Q2 2026 filing reports $711M in US stocks ($3.9B including options). That leaves out cash, bonds, short positions and most foreign holdings, so the fund's total assets are usually larger.
For informational and educational purposes only. Not investment advice, and not a recommendation to buy or sell any security. Holdings come from the fund's SEC Form 13F filings as reported and show positions at the end of the quarter, up to 45 days before the filing. The fund may have changed its positions since. A 13F leaves out short positions, cash, bonds and most foreign holdings. See all hedge fund holdings.