# MASTERS CAPITAL MANAGEMENT LLC: Form 13F holdings

An institutional investment manager in ATLANTA, GA. SEC CIK 1104186.

- Quarter ended: 2026-06-30
- Filed: 2026-08-14
- Reported value: $3.90bn
- Positions: 80 (93 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/1104186/000110418626000006/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [STATE STR SPDR S&P 500 ETF T (SPY)](/companies/spy.md) | TR UNIT | $746.8m | 19.2% | 1,000,000 | Put | New +1,000,000 |
| [BOEING CO (BA)](/companies/ba.md) | COM | $216.5m | 5.6% | 1,000,000 | Call | Added +800,000 |
| [ALIBABA GROUP HLDG LTD (BABA)](/companies/baba.md) | SPONSORED ADS | $192.0m | 4.9% | 2,000,000 | Call | Added +1,000,000 |
| [NEWMONT CORP (NEM)](/companies/nem.md) | COM | $186.8m | 4.8% | 2,000,000 | Call | New +2,000,000 |
| ACCENTURE PLC IRELAND | SHS CLASS A | $161.8m | 4.2% | 1,300,000 | Call | New +1,300,000 |
| [GENERAL MTRS CO (GM)](/companies/gm.md) | COM | $154.2m | 4.0% | 2,000,000 | Call | Added +700,000 |
| [CITIGROUP INC (C)](/companies/c.md) | COM NEW | $140.0m | 3.6% | 1,000,000 | Call | Reduced −1,000,000 |
| [INTEL CORP (INTC)](/companies/intc.md) | COM | $139.6m | 3.6% | 1,000,000 | Call | Reduced −2,000,000 |
| [UNITED PARCEL SVCS INC (UPS)](/companies/ups.md) | CL B | $107.5m | 2.8% | 1,000,000 | Call | Reduced −800,000 |
| [ALCOA CORP (AA)](/companies/aa.md) | COM | $104.3m | 2.7% | 2,000,000 | Call | Added +1,700,000 |
| [CLOROX CO DEL (CLX)](/companies/clx.md) | COM | $95.4m | 2.4% | 1,000,000 | Call | Added +500,000 |
| [DELTA AIR LINES INC (DAL)](/companies/dal.md) | COM NEW | $93.7m | 2.4% | 1,000,000 |  | Unchanged |
| [SLB LIMITED (SLB)](/companies/slb.md) | COM STK | $93.0m | 2.4% | 2,000,000 | Call | Added +1,000,000 |
| ISHARES TR | 20 YR TR BD ETF | $86.4m | 2.2% | 1,000,000 | Call | Reduced −3,000,000 |
| [UBER TECHNOLOGIES INC (UBER)](/companies/uber.md) | COM | $72.2m | 1.9% | 1,000,000 | Call | New +1,000,000 |
| [EASTMAN CHEM CO (EMN)](/companies/emn.md) | COM | $67.0m | 1.7% | 1,000,000 | Call | New +1,000,000 |
| [FREEPORT MCMORAN INC (FCX)](/companies/fcx.md) | CL B | $62.9m | 1.6% | 1,000,000 | Call | Added +200,000 |
| [BRISTOL-MYERS SQUIBB CO (BMY)](/companies/bmy.md) | COM | $57.6m | 1.5% | 1,000,000 | Call | Unchanged |
| [FLUOR CORP (FLR)](/companies/flr.md) | COM | $52.4m | 1.3% | 1,000,000 |  | Added +75,000 |
| [FLUOR CORP (FLR)](/companies/flr.md) | COM | $52.4m | 1.3% | 1,000,000 | Call | Added +570,000 |
| [CVS HEALTH CORP (CVS)](/companies/cvs.md) | COM | $51.7m | 1.3% | 500,000 | Call | Unchanged |
| [SERVICENOW INC (NOW)](/companies/now.md) | COM | $49.6m | 1.3% | 500,000 | Call | New +500,000 |
| [DELTA AIR LINES INC (DAL)](/companies/dal.md) | COM NEW | $46.8m | 1.2% | 500,000 | Put | Reduced −500,000 |
| [AST SPACEMOBILE INC (ASTS)](/companies/asts.md) | COM CL A | $44.4m | 1.1% | 500,000 |  | Unchanged |
| [IONQ INC (IONQ)](/companies/ionq.md) | COM | $42.6m | 1.1% | 800,000 | Call | Reduced −300,000 |
| [NOV INC (NOV)](/companies/nov.md) | COM | $40.8m | 1.0% | 2,200,000 |  | Added +200,000 |
| [ANTERO RESOURCES CORP (AR)](/companies/ar.md) | COM | $35.1m | 0.9% | 1,000,000 | Call | New +1,000,000 |
| [NCR VOYIX CORPORATION (VYX)](/companies/vyx.md) | COM | $32.7m | 0.8% | 4,000,000 |  | Added +500,000 |
| [UNITED PARCEL SVCS INC (UPS)](/companies/ups.md) | CL B | $32.3m | 0.8% | 300,000 |  | Reduced −200,000 |
| [LIONSGATE STUDIOS CORP (LION)](/companies/lion.md) | COM | $30.5m | 0.8% | 1,994,814 |  | Unchanged |
| [MOBILEYE GLOBAL INC (MBLY)](/companies/mbly.md) | COMMON CLASS A | $29.0m | 0.7% | 3,000,000 | Call | Added +1,000,000 |
| [CLEVELAND-CLIFFS INC NEW (CLF)](/companies/clf.md) | COM | $28.2m | 0.7% | 3,000,000 | Call | Added +1,000,000 |
| [BARCLAYS PLC (BCS)](/companies/bcs.md) | ADR | $26.9m | 0.7% | 1,000,000 |  | Unchanged |
| [EASTMAN CHEM CO (EMN)](/companies/emn.md) | COM | $26.8m | 0.7% | 400,000 |  | Added +200,000 |
| [HORMEL FOODS CORP (HRL)](/companies/hrl.md) | COM | $24.8m | 0.6% | 1,000,000 |  | Added +150,000 |
| [FLOTEK INDUSTRIES INC (FTK)](/companies/ftk.md) | COM NEW | $23.5m | 0.6% | 1,000,000 |  | Reduced −89,438 |
| [BRAINSWAY LTD (BWAY)](/companies/bway.md) | SPONSORED ADS | $23.3m | 0.6% | 1,500,000 |  | Reduced −150,000 |
| [BATH & BODY WORKS INC (BBWI)](/companies/bbwi.md) | COM | $23.1m | 0.6% | 1,000,000 | Call | New +1,000,000 |
| [YPF SOCIEDAD ANONIMA (YPF)](/companies/ypf.md) | SPON ADR CL D | $22.7m | 0.6% | 500,000 | Call | Reduced −500,000 |
| [INTERNATIONAL PAPER CO (IP)](/companies/ip.md) | COM | $19.1m | 0.5% | 500,000 | Call | Unchanged |
| [THE REALREAL INC (REAL)](/companies/real.md) | COM | $17.7m | 0.5% | 1,500,000 |  | Reduced −500,000 |
| [BETA TECHNOLOGIES INC (BETA)](/companies/beta.md) | COM SHS CL A | $17.2m | 0.4% | 1,028,200 |  | Added +328,200 |
| [ONDAS INC (ONDS)](/companies/onds.md) | COM NEW | $16.5m | 0.4% | 2,000,000 | Call | New +2,000,000 |
| [DAUCH CORP (DCH)](/companies/dch.md) | COM | $16.3m | 0.4% | 3,000,000 |  | Reduced −500,000 |
| [ROCKET COS INC (RKT)](/companies/rkt.md) | COM CL A | $15.8m | 0.4% | 1,000,000 | Call | New +1,000,000 |
| [TEREX CORP NEW (TEX)](/companies/tex.md) | COM | $14.5m | 0.4% | 200,000 |  | New +200,000 |
| [CELANESE CORP DEL (CE)](/companies/ce.md) | COM | $13.8m | 0.4% | 300,000 |  | New +300,000 |
| [CELANESE CORP DEL (CE)](/companies/ce.md) | COM | $13.8m | 0.4% | 300,000 | Put | New +300,000 |
| [SUNRUN INC (RUN)](/companies/run.md) | COM | $13.4m | 0.3% | 1,000,000 | Call | New +1,000,000 |
| NU HLDGS LTD | ORD SHS CL A | $13.4m | 0.3% | 1,000,000 | Call | New +1,000,000 |
| [VERADERMICS INC (MANE)](/companies/mane.md) | COMMON STOCK | $12.3m | 0.3% | 100,000 |  | Unchanged |
| [ENOVIX CORPORATION (ENVX)](/companies/envx.md) | COM | $12.1m | 0.3% | 2,000,000 |  | Unchanged |
| [MOHAWK INDS INC (MHK)](/companies/mhk.md) | COM | $12.1m | 0.3% | 100,000 |  | Reduced −400,000 |
| [BOSTON SCIENTIFIC CORP (BSX)](/companies/bsx.md) | COM | $10.7m | 0.3% | 250,000 |  | New +250,000 |
| [ALMONTY INDS INC (ALM)](/companies/alm.md) | COM NEW | $9.9m | 0.3% | 600,000 |  | New +600,000 |
| TRANSOCEAN LTD | REGISTERED SHS | $9.8m | 0.3% | 2,000,000 |  | Unchanged |
| [TELOS CORP MD (TLS)](/companies/tls.md) | COM | $9.7m | 0.2% | 2,100,000 |  | Added +100,000 |
| [NEXGEN ENERGY LTD (NXE)](/companies/nxe.md) | COM | $9.4m | 0.2% | 1,000,000 |  | Unchanged |
| [SLB LIMITED (SLB)](/companies/slb.md) | COM STK | $9.3m | 0.2% | 200,000 |  | New +200,000 |
| [WAYFAIR INC (W)](/companies/w.md) | CL A | $9.2m | 0.2% | 100,000 | Call | Reduced −1,000,000 |
| [ANGEL OAK MORTGAGE REIT INC (AOMR)](/companies/aomr.md) | COM | $9.1m | 0.2% | 1,000,000 |  | Unchanged |
| BORR DRILLING LTD | SHS | $8.3m | 0.2% | 2,000,000 |  | Unchanged |
| VERTICAL AEROSPACE LTD | SHS NEW | $7.1m | 0.2% | 4,100,000 |  | Added +700,000 |
| [EOS ENERGY ENTERPRISES INC (EOSE)](/companies/eose.md) | COM CL A | $7.1m | 0.2% | 1,200,000 |  | New +1,200,000 |
| [PONY AI INC (PONY)](/companies/pony.md) | SPONSORED ADS | $7.0m | 0.2% | 1,000,000 | Call | Unchanged |
| [SUNRUN INC (RUN)](/companies/run.md) | COM | $6.7m | 0.2% | 500,000 |  | Unchanged |
| [PONY AI INC (PONY)](/companies/pony.md) | SPONSORED ADS | $6.6m | 0.2% | 950,000 |  | Unchanged |
| FERROGLOBE PLC | SHS | $6.4m | 0.2% | 2,000,000 |  | Unchanged |
| [ENOVIX CORPORATION (ENVX)](/companies/envx.md) | COM | $6.1m | 0.2% | 1,000,000 | Call | Unchanged |
| [ISOENERGY LTD (ISOU)](/companies/isou.md) | COM NEW | $6.0m | 0.2% | 600,000 |  | Reduced −100,000 |
| [DENALI THERAPEUTICS INC (DNLI)](/companies/dnli.md) | COM | $5.1m | 0.1% | 200,000 |  | Reduced −400,000 |
| [EVE HLDG INC (EVEX)](/companies/evex.md) | COM | $5.0m | 0.1% | 2,000,000 |  | Unchanged |
| TRANSOCEAN LTD | REGISTERED SHS | $4.9m | 0.1% | 1,000,000 | Call | Unchanged |
| [LUCID DIAGNOSTICS INC (LUCD)](/companies/lucd.md) | COM | $4.3m | 0.1% | 4,000,000 |  | Unchanged |
| [SENSEONICS HLDGS INC (SENS)](/companies/sens.md) | COM | $4.0m | 0.1% | 700,000 |  | Added +200,000 |
| [PLUG PWR INC (PLUG)](/companies/plug.md) | COM NEW | $2.7m | <0.1% | 1,000,000 |  | Unchanged |
| [WHEELS UP EXPERIENCE INC (UP)](/companies/up.md) | COM CL A | $2.7m | <0.1% | 300,000 |  | New +300,000 |
| [INTEGRA RES CORP (ITRG)](/companies/itrg.md) | COM | $2.3m | <0.1% | 1,000,000 |  | Unchanged |
| [NEURONETICS INC (STIM)](/companies/stim.md) | COM | $1.3m | <0.1% | 1,000,000 |  | Unchanged |
| [NCR VOYIX CORPORATION (VYX)](/companies/vyx.md) | COM | $1.2m | <0.1% | 150,000 | Call | New +150,000 |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [AIR PRODUCTS AND CHEMICALS I (APD)](/companies/apd.md) | COM | $0 | 0.0% | 0 | Call | Sold out −200,000 |
| [APPLIED OPTOELECTRONICS INC (AAOI)](/companies/aaoi.md) | COM | $0 | 0.0% | 0 | Call | Sold out −100,000 |
| [ARCHER DANIELS MIDLAND CO (ADM)](/companies/adm.md) | COM | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [AST SPACEMOBILE INC (ASTS)](/companies/asts.md) | COM CL A | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [BARCLAYS PLC (BCS)](/companies/bcs.md) | ADR | $0 | 0.0% | 0 | Call | Sold out −1,000,000 |
| [BORGWARNER INC (BWA)](/companies/bwa.md) | COM | $0 | 0.0% | 0 | Call | Sold out −1,000,000 |
| [BOSTON SCIENTIFIC CORP (BSX)](/companies/bsx.md) | COM | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [CLEVELAND-CLIFFS INC NEW (CLF)](/companies/clf.md) | COM | $0 | 0.0% | 0 |  | Sold out −1,200,000 |
| [ECOLAB INC (ECL)](/companies/ecl.md) | COM | $0 | 0.0% | 0 | Call | Sold out −200,000 |
| [FASTLY INC (FSLY)](/companies/fsly.md) | CL A | $0 | 0.0% | 0 |  | Sold out −300,000 |
| [FASTLY INC (FSLY)](/companies/fsly.md) | CL A | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [FIFTH THIRD BANCORP (FITB)](/companies/fitb.md) | COM | $0 | 0.0% | 0 | Call | Sold out −600,000 |
| [FIREFLY AEROSPACE INC (FLY)](/companies/fly.md) | COM | $0 | 0.0% | 0 | Call | Sold out −1,000,000 |
| [HUNTSMAN CORP (HUN)](/companies/hun.md) | COM | $0 | 0.0% | 0 |  | Sold out −1,000,000 |
| [IAMGOLD CORP (IAG)](/companies/iag.md) | COM | $0 | 0.0% | 0 |  | Sold out −300,000 |
| [INTERNATIONAL BUSINESS MACHS (IBM)](/companies/ibm.md) | COM | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [LYFT INC (LYFT)](/companies/lyft.md) | CL A COM | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [LYFT INC (LYFT)](/companies/lyft.md) | CL A COM | $0 | 0.0% | 0 |  | Sold out −500,000 |
| [MOBILEYE GLOBAL INC (MBLY)](/companies/mbly.md) | COMMON CLASS A | $0 | 0.0% | 0 |  | Sold out −100,000 |
| [MOHAWK INDS INC (MHK)](/companies/mhk.md) | COM | $0 | 0.0% | 0 | Call | Sold out −300,000 |
| NEW FORTRESS ENERGY INC | COM CL A | $0 | 0.0% | 0 |  | Sold out −1,000,000 |
| [NOKIA CORP (NOK)](/companies/nok.md) | SPONSORED ADR | $0 | 0.0% | 0 |  | Sold out −2,000,000 |
| [ORMAT TECHNOLOGIES INC (ORA)](/companies/ora.md) | COM | $0 | 0.0% | 0 | Call | Sold out −500,000 |
| [THE REALREAL INC (REAL)](/companies/real.md) | COM | $0 | 0.0% | 0 | Call | Sold out −2,000,000 |
| [VENTURE GLOBAL INC (VG)](/companies/vg.md) | COM CL A | $0 | 0.0% | 0 | Call | Sold out −880,000 |
| WHEELS UP EXPERIENCE INC | COM CL A | $0 | 0.0% | 0 |  | Sold out −4,000,000 |

Source: SEC EDGAR, Form 13F-HR, accession 0001104186-26-000006. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.