Filed: 2/17/2026ACC: 0001104186-26-000003
📋 What this filing means
MASTERS CAPITAL MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 65 equity positions with a total reported market value of $2.45B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
65
Positions
$2.45B
Total AUM (reported)
90.18M
Total Shares
Allocation by class
COM$1.43B58.4%
CL B$279.29M11.4%
COM NEW$255.70M10.4%
SPONSORED ADS$193.88M7.9%
COM STK$76.76M3.1%
COM CL A$48.25M2.0%
COM PAR $1$35.41M1.4%
Portfolio Concentration
Top 3$537.36M21.9%
4–10$675.60M27.6%
11–25$625.45M25.5%
Rest$612.78M25.0%
Top 3 weight
21.9%
Top 10 weight
49.5%
Voting Authority Distribution
Total shares with voting rights: 90.18M
Sole
Full voting authority
90.18M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole65
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings65
Rows:
UNITED PARCEL SERVICE INC
SOLEShares2.30M
TypeSH
Market value$228.14M
9.31%
Sole
2.30M
Shared
0.00
None
0.00
GENERAL MTRS CO
SOLEShares2M
TypeSH
Market value$162.64M
6.64%
Sole
2M
Shared
0.00
None
0.00
ALIBABA GROUP HLDG LTD
SOLEShares1M
TypeSH
Market value$146.58M
5.98%
Sole
1M
Shared
0.00
None
0.00
DELTA AIR LINES INC DEL
SOLEShares2M
TypeSH
Market value$138.80M
5.66%
Sole
2M
Shared
0.00
None
0.00
HONEYWELL INTL INC
SOLEShares600K
TypeSH
Market value$117.05M
4.78%
Sole
600K
Shared
0.00
None
0.00
BOEING CO
SOLEShares500K
TypeSH
Market value$108.56M
4.43%
Sole
500K
Shared
0.00
None
0.00
CITIGROUP INC
SOLEShares700K
TypeSH
Market value$81.68M
3.33%
Sole
700K
Shared
0.00
None
0.00
METLIFE INC
SOLEShares1M
TypeSH
Market value$78.94M
3.22%
Sole
1M
Shared
0.00
None
0.00
SLB LIMITED
SOLEShares2M
TypeSH
Market value$76.76M
3.13%
Sole
2M
Shared
0.00
None
0.00
INTEL CORP
SOLEShares2M
TypeSH
Market value$73.80M
3.01%
Sole
2M
Shared
0.00
None
0.00
EASTMAN CHEM CO
SOLEShares1.10M
TypeSH
Market value$70.21M
2.86%
Sole
1.10M
Shared
0.00
None
0.00
INTERNATIONAL BUSINESS MACHS
SOLEShares200K
TypeSH
Market value$59.24M
2.42%
Sole
200K
Shared
0.00
None
0.00
BORGWARNER INC
SOLEShares1M
TypeSH
Market value$45.06M
1.84%
Sole
1M
Shared
0.00
None
0.00
CORNING INC
SOLEShares500K
TypeSH
Market value$43.78M
1.79%
Sole
500K
Shared
0.00
None
0.00
MOHAWK INDS INC
SOLEShares400K
TypeSH
Market value$43.72M
1.78%
Sole
400K
Shared
0.00
None
0.00
FLUOR CORP NEW
SOLEShares1.10M
TypeSH
Market value$43.59M
1.78%
Sole
1.10M
Shared
0.00
None
0.00
MARVELL TECHNOLOGY INC
SOLEShares500K
TypeSH
Market value$42.49M
1.73%
Sole
500K
Shared
0.00
None
0.00
DOW INC
SOLEShares1.70M
TypeSH
Market value$39.75M
1.62%
Sole
1.70M
Shared
0.00
None
0.00
INTERNATIONAL PAPER CO
SOLEShares1M
TypeSH
Market value$39.39M
1.61%
Sole
1M
Shared
0.00
None
0.00
AST SPACEMOBILE INC
SOLEShares500K
TypeSH
Market value$36.31M
1.48%
Sole
500K
Shared
0.00
None
0.00
OLIN CORP
SOLEShares1.70M
TypeSH
Market value$35.41M
1.44%
Sole
1.70M
Shared
0.00
None
0.00
NIKE INC
SOLEShares500K
TypeSH
Market value$31.86M
1.30%
Sole
500K
Shared
0.00
None
0.00
CLOROX CO DEL
SOLEShares315.50K
TypeSH
Market value$31.81M
1.30%
Sole
315.50K
Shared
0.00
None
0.00
THE REALREAL INC
SOLEShares2M
TypeSH
Market value$31.56M
1.29%
Sole
2M
Shared
0.00
None
0.00
NOV INC
SOLEShares2M
TypeSH
Market value$31.26M
1.28%
Sole
2M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
UNITED PARCEL SERVICE INCSOLE | CL B | 2.30M | SH | $228.14M 9.31% | 2.30M | 0.00 | 0.00 |
GENERAL MTRS COSOLE | COM | 2M | SH | $162.64M 6.64% | 2M | 0.00 | 0.00 |
ALIBABA GROUP HLDG LTDSOLE | SPONSORED ADS | 1M | SH | $146.58M 5.98% | 1M | 0.00 | 0.00 |
DELTA AIR LINES INC DELSOLE | COM NEW | 2M | SH | $138.80M 5.66% | 2M | 0.00 | 0.00 |
HONEYWELL INTL INCSOLE | COM | 600K | SH | $117.05M 4.78% | 600K | 0.00 | 0.00 |
BOEING COSOLE | COM | 500K | SH | $108.56M 4.43% | 500K | 0.00 | 0.00 |
CITIGROUP INCSOLE | COM NEW | 700K | SH | $81.68M 3.33% | 700K | 0.00 | 0.00 |
METLIFE INCSOLE | COM | 1M | SH | $78.94M 3.22% | 1M | 0.00 | 0.00 |
SLB LIMITEDSOLE | COM STK | 2M | SH | $76.76M 3.13% | 2M | 0.00 | 0.00 |
INTEL CORPSOLE | COM | 2M | SH | $73.80M 3.01% | 2M | 0.00 | 0.00 |
EASTMAN CHEM COSOLE | COM | 1.10M | SH | $70.21M 2.86% | 1.10M | 0.00 | 0.00 |
INTERNATIONAL BUSINESS MACHSSOLE | COM | 200K | SH | $59.24M 2.42% | 200K | 0.00 | 0.00 |
BORGWARNER INCSOLE | COM | 1M | SH | $45.06M 1.84% | 1M | 0.00 | 0.00 |
CORNING INCSOLE | COM | 500K | SH | $43.78M 1.79% | 500K | 0.00 | 0.00 |
MOHAWK INDS INCSOLE | COM | 400K | SH | $43.72M 1.78% | 400K | 0.00 | 0.00 |
FLUOR CORP NEWSOLE | COM | 1.10M | SH | $43.59M 1.78% | 1.10M | 0.00 | 0.00 |
MARVELL TECHNOLOGY INCSOLE | COM | 500K | SH | $42.49M 1.73% | 500K | 0.00 | 0.00 |
DOW INCSOLE | COM | 1.70M | SH | $39.75M 1.62% | 1.70M | 0.00 | 0.00 |
INTERNATIONAL PAPER COSOLE | COM | 1M | SH | $39.39M 1.61% | 1M | 0.00 | 0.00 |
AST SPACEMOBILE INCSOLE | COM CL A | 500K | SH | $36.31M 1.48% | 500K | 0.00 | 0.00 |
OLIN CORPSOLE | COM PAR $1 | 1.70M | SH | $35.41M 1.44% | 1.70M | 0.00 | 0.00 |
NIKE INCSOLE | CL B | 500K | SH | $31.86M 1.30% | 500K | 0.00 | 0.00 |
CLOROX CO DELSOLE | COM | 315.50K | SH | $31.81M 1.30% | 315.50K | 0.00 | 0.00 |
THE REALREAL INCSOLE | COM | 2M | SH | $31.56M 1.29% | 2M | 0.00 | 0.00 |
NOV INCSOLE | COM | 2M | SH | $31.26M 1.28% | 2M | 0.00 | 0.00 |
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