NINE MASTS CAPITAL Ltd 13F Filing History & Holdings

CIK: 0001569356

Diversified strategyHigh-turnover traderMomentum follower

Total reported value

$692.6M

Reporting period: 2026-03-31 · Number of holdings: 249

NINE MASTS CAPITAL Ltd disclosed 249 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $692.6M and a quarterly turnover rate of 115.2%.

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Personality snowflake

Concentration: 29.39
Portfolio Stability: 100
Momentum/Contrarian: 100
Sector conviction: 60.82
Diversification: 100
Sizing Uniformity: 63.1

NINE MASTS CAPITAL Ltd's disclosed holdings carry a Herfindahl concentration index of 0.073 — mathematically equivalent to about 14 equally-sized positions, well below its 249 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 3.69), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim SPY
+489.2%　-$65.3M
Trim NSC
-47.0%　-$22.0M
Add BABA 0.5 06-01-31
+68.3%　$49.2M
Add WBD
+773.2%　$23.3M
Add EA
+2478.9%　$20.5M
Trim FOX
-2.7%　-$8.7M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 198 holdings (of 249 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BABA 0.5 06-01-31	Alibaba Group Holding	Stock-Consumer Disc	21.25%	+4.38%	+68.25%
2	GOOG	Alphabet Inc-cl C	Stock-Comm Services	9.89%	+9.89%	NEW
3	HDB	Hdfc Bank Ltd-adr	Stock-Financials	6.83%	+6.83%	NEW
4	FOX	Fox CORP - Class B	Stock-Comm Services	4.87%	-2.43%	-2.71%
5	WBD	Warner Bros Discovery INC	Stock-Comm Services	4.42%	+3.17%	+773.24%
6	SLAB	Silicon Laboratories INC	Stock-Tech	3.65%	+3.65%	NEW
7	NSC	Norfolk Southern CORP	Stock-Industrials	3.54%	-4.46%	-46.96%
8	EA	Electronic Arts INC	Stock-Comm Services	3.19%	+2.91%	+2478.93%
9	WBS	Webster Financial CORP	Stock-Financials	2.94%	+2.94%	NEW
10	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	2.76%	—	-18.16%
11	HO1	Hologic INC	Stock-Other	2.45%	+1.81%	+349.21%
12	NIO 4.625 10-15-30	Nio INC	Stock-Consumer Disc	2.33%	—	-15.58%
13	ASX	Ase Technology Holding -adr	Stock-Tech	2.30%	+0.25%	+5.08%
14	CWAN	Clearwater Analytics Holdings, Inc.	Stock-Tech	2.00%	+1.71%	+1271.43%
15	AES	Aes CORP	Stock-Utilities	1.99%	+1.89%	+2419.13%
16	KVUE	Kenvue INC	Stock-Consumer Staples	1.53%	+0.95%	+217.17%
17	ORCL 6.5 01-15-29 D	Oracle CORP	Stock-Tech	1.43%	+1.43%	NEW
18	QRVO	Qorvo INC	Stock-Tech	1.39%	-1.05%	-25.73%
19	JD	Jd.com Inc-adr	Stock-Consumer Disc	1.34%	—	+14.75%
20	PEN	Penumbra INC	Stock-Healthcare	1.13%	+1.13%	NEW
21	GPN 1.5 03-01-31	Global Payments INC	Stock-Industrials	1.08%	+1.08%	NEW
22	SNOW 0 10-01-29	Snowflake INC	Stock-Tech	1.06%	+1.06%	NEW
23	VAL	Valaris Limited	Stock-Energy	0.88%	+0.88%	NEW
24	TXNM	Txnm Energy INC	Stock-Utilities	0.85%	—	+41.56%
25	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.83%	-11.40%	+489.25%
26	BILL 0 04-01-30	Bill Holdings INC	Stock-Tech	0.64%	+0.64%	NEW
27	BHF	Brighthouse Financial INC	Stock-Financials	0.63%	+0.63%	NEW
28	APLSUSD	Apellis Pharmaceuticals INC	Stock-Other	0.57%	+0.57%	NEW
29	NIO	Nio INC - Adr	Stock-Consumer Disc	0.54%	—	+136.99%
30	Z	Zillow Group INC - C	Stock-Comm Services	0.51%	-1.15%	-39.88%
31	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.48%	+0.48%	NEW
32	TXNM 5.75 06-01-54	Txnm Energy INC	Stock-Utilities	0.48%	+0.48%	NEW
33	ZS	Zscaler INC	Stock-Tech	0.46%	+0.46%	NEW
34	COP	Conocophillips	Stock-Energy	0.42%	+0.42%	NEW
35	RNW	ReNew Energy Global Plc	Stock-Other	0.42%	-0.46%	-30.56%
36	UNF	Unifirst Corp/ma	Stock-Other	0.40%	+0.40%	NEW
37	JHG	Janus Henderson Group plc	Stock-Financials	0.40%	—	+37.27%
38	BEP	Brookfield Renewable Partners L.P.	Stock-Other	0.34%	+0.34%	NEW
39	ZIM	ZIM Integrated Shipping Services Ltd.	Stock-Other	0.34%	+0.34%	NEW
40	META	Meta Platforms Inc-class A	Stock-Comm Services	0.32%	+0.32%	NEW
41	SHOP	Shopify INC - Class A	Stock-Tech	0.30%	+0.30%	NEW
42	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.27%	+0.27%	NEW
43	CVX	Chevron CORP	Stock-Energy	0.27%	+0.27%	NEW
44	NVDA	Nvidia CORP	Stock-Tech	0.25%	—	+368.08%
45	NWE	Northwestern Energy Group In	Stock-Utilities	0.24%	—	—
46	RYAAY	Ryanair Holdings Plc-sp Adr	Stock-Industrials	0.23%	-1.39%	-78.59%
47	UTE0	Cantaloupe INC	Stock-Other	0.23%	—	-11.99%
48	TAIL	Cambria Tail Risk ETF	ETF-Other	0.22%	—	—
49	TSLA	Tesla INC	Stock-Consumer Disc	0.21%	—	—
50	UBER	Uber Technologies INC	Stock-Industrials	0.21%	—	+3610.24%

1–50 of 198

Portfolio Performance

Performance for Q3 2026

-1.2%

Performance Last 4 Quarters

+1.3%

Based on 56% of reported portfolio value with available pricing

Stdev: +9.4%
Beta: +0.92
Alpha: -1.9%
Max Drawdown: -6.2%
Annualized Perf: +9.8%
Batting Avg vs S&P: +35.7%
Sortino: +1.84
Stutzer: +0.31
Treynor: +0.11
Sterling: +0.61
Calmar: +1.59
Information Ratio: -0.55
Tracking Error: +5.3%
Stdev Down: +5.3%
Winning Months %: +64.3%
Losing Months %: +35.7%
Best 12 Months: +12.9%
Worst 12 Months: +8.4%
Efficiency Ratio: +0.34
Sharpe: +1.04
Stdev Sectors: +10.1%
Skewness: -0.34
Kurtosis: -0.98
Upside Potential: +3.66

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	249	$692.6M	100	1BABA 0.5 06-01-31 2GOOG 3HDB Top holdings2026-03-31 1.BABA 0.5 06-01-31 2.GOOG 3.HDB 4.FOX 5.WBD 6.SLAB 7.NSC 8.EA 9.WBS 10.QQQ
2025-12-31	120	$580.7M	100	1BABA 0.5 06-01-31 2IBIT 3SPY Top holdings2025-12-31 1.BABA 0.5 06-01-31 2.IBIT 3.SPY 4.NSC 5.FOX 6.QQQ 7.M2682V 8.NIO 4.625 10-15-30 9.QRVO 10.ASX
2025-09-30	76	$243.5M	100	1GOOG 2FOX 3VALE Top holdings2025-09-30 1.GOOG 2.FOX 3.VALE 4.HDB 5.POH3 6.07WA 7.RYAAY 8.ASX 9.DEO 10.G49667
2025-06-30	94	$274.0M	0	1IBIT 2GOOG 3RYAAY Top holdings2025-06-30 1.IBIT 2.GOOG 3.RYAAY 4.NIO 4.625 10-15-30 5.FOX 6.LBRDK 7.HES 8.SPY 9.HDB 10.GRND
2025-03-31	72	$150.6M	100	1GOOGL 2HDB 3ASX Top holdings2025-03-31 1.GOOGL 2.HDB 3.ASX 4.BRK-A 5.NIO 4.625 10-15-30 6.PDD 0 12-01-25 7.FOX 8.ONC 9.SPY 10.BABA
2024-12-31	171	$570.9M	0	1IVV 2IBIT 3SPY Top holdings2024-12-31 1.IVV 2.IBIT 3.SPY 4.HDB 5.NIO 0.5 02-01-27 6.BRK-A 7.ASX 8.ZG 9.NWSA 10.LI
2024-09-30	111	$222.6M	0	1IBIT 2HDB 3BRK-A Top holdings2024-09-30 1.IBIT 2.HDB 3.BRK-A 4.QQQ 5.ASX 6.XLK 7.NIO 0.5 02-01-27 8.ZG 9.NWSA 10.BILI 0.5 12-01-26
2024-06-30	147	$333.8M	0	1ALB 7.25 03-01-27 2HDB 3GOOGL Top holdings2024-06-30 1.ALB 7.25 03-01-27 2.HDB 3.GOOGL 4.NEE 7.299 06-01-27 5.XLK 6.EEM 7.TYL 8.WOLF 0.25 02-15-28 9.ON 0.5 03-01-29 10.NIO 0.5 02-01-27
2024-03-31	77	$383.4M	0	1ALB 7.25 03-01-27 2LYV 3.125 01-15-29 3NET 0 08-15-26 Top holdings2024-03-31 1.ALB 7.25 03-01-27 2.LYV 3.125 01-15-29 3.NET 0 08-15-26 4.PODD 0.375 09-01-26 5.ON 0.5 03-01-29 6.GOOGL 7.UBER 0 12-15-25 8.POST 2.5 08-15-27 9.NTNX 0.25 10-01-27 10.HDB
2023-12-31	30	$134.4M	0	1PODD 0.375 09-01-26 2COIN 0.5 06-01-26 3HDB Top holdings2023-12-31 1.PODD 0.375 09-01-26 2.COIN 0.5 06-01-26 3.HDB 4.UBER 0 12-15-25 5.POST 2.5 08-15-27 6.NIO 0.5 02-01-27 7.GOOGL 8.XYZ 0 05-01-26 9.G49667 10.FOX
2023-09-30	36	$139.2M	0	1HDB 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-09-30 1.HDB 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.POST 2.5 08-15-27 5.VNET 0 02-01-26 6.SPLKCHF 7.XYZ 0 05-01-26 8.XPEV 9.U 0 11-15-26 10.NIO 0.5 02-01-27
2023-06-30	31	$130.6M	0	1SPLK 1.125 09-15-25 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-06-30 1.SPLK 1.125 09-15-25 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.HDB 5.TDOC 0.875 06-01-25 6.VNET 0 02-01-26 7.U 0 11-15-26 8.ETSY 0.125 09-01-27 9.XYZ 0 05-01-26 10.GOOGL
2023-03-31	28	$94.4M	0	1FOX 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-03-31 1.FOX 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.VNET 0 02-01-26 5.U 0 11-15-26 6.HDB 7.BIII-UN 8.BRK-B 9.G49667 10.CLNE
2022-12-31	47	$313.2M	0	1TSM 2FOX 3XYZ 0.125 03-01-25 Top holdings2022-12-31 1.TSM 2.FOX 3.XYZ 0.125 03-01-25 4.BABA 5.XYZ 0 05-01-26 6.UBER 0 12-15-25 7.TSLA 8.BRK-B 9.VNET 0 02-01-26 10.TDOC 0.875 06-01-25
2022-09-30	43	$258.5M	0	1GOOGL 2TSM 3FOX Top holdings2022-09-30 1.GOOGL 2.TSM 3.FOX 4.XYZ 0.125 03-01-25 5.UBER 0 12-15-25 6.BABA 7.COUP 0.125 06-15-25 8.XYZ 0 05-01-26 9.VNET 0 02-01-26 10.G0447J
2022-06-30	46	$374.4M	0	1TSM 2GOOGL 3BABA Top holdings2022-06-30 1.TSM 2.GOOGL 3.BABA 4.FOX 5.LI 6.HDB 7.VNET 0 02-01-26 8.G0447J 9.G8601L 10.G28553
2022-03-31	47	$466.3M	0	1TSM 2FOX 3HDB Top holdings2022-03-31 1.TSM 2.FOX 3.HDB 4.GLD 5.BABA 6.G0509L 7.VNET 0 02-01-26 8.WIT 9.G0447J 10.G8601L
2021-12-31	42	$223.3M	0	1SEALTD 0.25 09-15-26 2FOX 3BABA Top holdings2021-12-31 1.SEALTD 0.25 09-15-26 2.FOX 3.BABA 4.HDB 5.G0509L 6.G0447J 7.G8601L 8.G28553 9.BHP 10.739190
2021-09-30	42	$265.3M	0	1SEALTD 0.25 09-15-26 2FOX 3PDD 0 12-01-25 Top holdings2021-09-30 1.SEALTD 0.25 09-15-26 2.FOX 3.PDD 0 12-01-25 4.G0509L 5.BABA 6.IQ 3.75 12-01-23 7.G0447J 8.G28553 9.WIT 10.G8601L
2021-06-30	30	$140.9M	100	1FOX 2PDD 0 12-01-253G0509L Top holdings2021-06-30 1.FOX 2.PDD 0 12-01-25 3.G0509L 4.G0447J 5.G28553 6.G8601L 7.IQ 3.75 12-01-23 8.WIT 9.G88672 10.RYAAY
2021-03-31	26	$126.9M	100	1BIDU 2FOX 3BILI Top holdings2021-03-31 1.BIDU 2.FOX 3.BILI 4.G28553 5.RYAAY 6.G88672 7.G39714 8.META 9.INTC 10.KT
2020-12-31	16	$116.4M	100	1GOOGL 2RYAAY 3BABA Top holdings2020-12-31 1.GOOGL 2.RYAAY 3.BABA 4.INFY 5.G28553 6.BHP 7.212873 8.G88672 9.PDD 0 10-01-24 10.RDY
2020-09-30	42	$126.4M	100	1GOOGL 2SMFG 3KT Top holdings2020-09-30 1.GOOGL 2.SMFG 3.KT 4.INFY 5.QQQ 6.JD 7.ASX 8.NTES 9.MUFG 10.AAPL
2020-06-30	21	$153.6M	100	1SMFG 2TCOM 1.99 07-01-25 3KT Top holdings2020-06-30 1.SMFG 2.TCOM 1.99 07-01-25 3.KT 4.QQQ 5.INFY 6.BABA 7.HDB 8.ASX 9.AAPL 10.MSFT
2020-03-31	24	$68.1M	100	1KT 2PVH 3ASX Top holdings2020-03-31 1.KT 2.PVH 3.ASX 4.INFY 5.HDB 6.CYOUUSD 7.UMC 8.BZUN 9.CHU 10.LFCUSD
2019-12-31	145	$329.5M	100	1KT 2GOOGL 3SPY Top holdings2019-12-31 1.KT 2.GOOGL 3.SPY 4.INFY 5.IBN 6.G0177J 7.ZAYOEUR 8.WB 1.25 11-15-22 9.INDA 10.BABA
2019-09-30	148	$524.0M	75	1GOOGL 2KT 3HDB Top holdings2019-09-30 1.GOOGL 2.KT 3.HDB 4.HSBC 5.IBN 6.SMFG 7.INFY 8.GWRUSD 9.WB 1.25 11-15-22 10.MUFG
2019-06-30	145	$698.2M	100	1GOOGL 2INFY 3KT Top holdings2019-06-30 1.GOOGL 2.INFY 3.KT 4.IBN 5.TSM 6.TAK 7.MUFG 8.RHT1EUR 9.APC3EUR 10.SMFG
2019-03-31	176	$320.8M	100	1TSM 2IBN 3GOOGL Top holdings2019-03-31 1.TSM 2.IBN 3.GOOGL 4.MUFG 5.TAK 6.SMFG 7.HTHT 0.375 11-01-22 8.KT 9.HSBC 10.DHR 4.75 04-15-22 A
2018-12-31	184	$630.2M	100	1SPY 2TSM 3MUFG Top holdings2018-12-31 1.SPY 2.TSM 3.MUFG 4.SMFG 5.IBN 6.KT 7.HDB 8.BHP 9.HSBC 10.PBR-A
2018-09-30	294	$366.8M	100	1SDRL 2PBR-A 3NXPI Top holdings2018-09-30 1.SDRL 2.PBR-A 3.NXPI 4.KT 5.HDB 6.BHP 7.MUFG 8.STGUSD 9.SMHC 10.SHYG
2018-06-30	289	$515.6M	100	1SINA 1 12-01-18 2NXPI 3TSM Top holdings2018-06-30 1.SINA 1 12-01-18 2.NXPI 3.TSM 4.SPY 5.TCOM 1.25 10-15-18 6.PBR-A 7.GOOGL 8.MGM 9.NTES 10.STGUSD
2018-03-31	251	$653.7M	84	1GOOGL 2SINA 1 12-01-18 3AABA 0 12-01-18 Top holdings2018-03-31 1.GOOGL 2.SINA 1 12-01-18 3.AABA 0 12-01-18 4.TSM 5.NXPI 6.HTT 7.TCOM 1.25 10-15-18 8.TCOM 1 07-01-20 9.G81477 10.NTES
2017-12-31	259	$750.3M	83	1GOOGL 2SINA 1 12-01-18 3HYG Top holdings2017-12-31 1.GOOGL 2.SINA 1 12-01-18 3.HYG 4.SPY 5.AABA 0 12-01-18 6.TTMCHF 7.TCOM 1 07-01-20 8.INFY 9.TCOM 1.25 10-15-18 10.TCOM 1.25 09-15-22
2017-09-30	171	$674.9M	82	1GOOGL 2SINA 1 12-01-18 3AABAUSD Top holdings2017-09-30 1.GOOGL 2.SINA 1 12-01-18 3.AABAUSD 4.TCOM 1 07-01-20 5.TCOM 1.25 09-15-22 6.XXI 7.TCOM 1.25 10-15-18 8.TTMCHF 9.IBN 10.TCOM 1.99 07-01-25
2017-06-30	179	$840.1M	96	1SINA 1 12-01-18 2GOOGL 3TSM Top holdings2017-06-30 1.SINA 1 12-01-18 2.GOOGL 3.TSM 4.AABAUSD 5.FXI 6.TCOM 1 07-01-20 7.IBN 8.AABA 0 12-01-18 9.XXI 10.TCOM 1.25 10-15-18
2017-03-31	76	$591.1M	63	1SINA 1 12-01-18 2XXI 3SMFG Top holdings2017-03-31 1.SINA 1 12-01-18 2.XXI 3.SMFG 4.INFY 5.TCOM 1 07-01-20 6.AABA 0 12-01-18 7.TCOM 1.25 10-15-18 8.TCOM 1.99 07-01-25 9.TTMCHF 10.TSM
2016-12-31	59	$487.1M	81	1SINA 1 12-01-18 2SMFG 3TCOM 1 07-01-20 Top holdings2016-12-31 1.SINA 1 12-01-18 2.SMFG 3.TCOM 1 07-01-20 4.XXI 5.SONY 6.TSL 3.5 06-15-19 7.TCOM 1.25 10-15-18 8.TCOM 1.99 07-01-25 9.NMR 10.00756M
2016-09-30	76	$498.1M	74	1SMFG 2SFUN 2 12-15-18 3SONY Top holdings2016-09-30 1.SMFG 2.SFUN 2 12-15-18 3.SONY 4.TCOM 1 07-01-20 5.TSM 6.TCOM 1.25 10-15-18 7.TSL 3.5 06-15-19 8.TCOM 1.99 07-01-25 9.HSBC 10.00756M
2016-06-30	54	$415.3M	82	1SFUN 2 12-15-18 2SMFG 3QIHU 2.5 09-15-18 Top holdings2016-06-30 1.SFUN 2 12-15-18 2.SMFG 3.QIHU 2.5 09-15-18 4.SONY 5.TCOM 1.25 10-15-18 6.TCOM 1.99 07-01-25 7.CHADUSD 8.00756M 9.26852W 10.TSM
2016-03-31	86	$534.7M	82	1SFUN 2 12-15-18 2SMFG 3QIHU 2.5 09-15-18 Top holdings2016-03-31 1.SFUN 2 12-15-18 2.SMFG 3.QIHU 2.5 09-15-18 4.98742U 5.74734M 6.CHADUSD 7.SONY 8.TCOM 1.25 10-15-18 9.43742E 10.009411
2015-12-31	81	$487.4M	100	1SFUN 2 12-15-18298742U3602675 Top holdings2015-12-31 1.SFUN 2 12-15-18 2.98742U 3.602675 4.CHADUSD 5.682128 6.TCOM 1.25 10-15-18 7.SONY 8.HYG 9.HSBC 10.43742E
2015-09-30	62	$389.7M	100	1SFUN 2 12-15-18 2CHADUSD 3FXI Top holdings2015-09-30 1.SFUN 2 12-15-18 2.CHADUSD 3.FXI 4.SONY 5.QIHU 2.5 09-15-18 6.929352 7.HSBC 8.TSM 9.IBN 10.CHLUSD
2015-06-30	88	$305.3M	100	1TSM 2SFUN 2 12-15-18 3HSBC Top holdings2015-06-30 1.TSM 2.SFUN 2 12-15-18 3.HSBC 4.QIHU 2.5 09-15-18 5.TTMCHF 6.45812P 7.BABA 8.74734M 9.16952T 10.PERF
2015-03-31	43	$487.1M	65	1TSM 2HSBC 3BBL Top holdings2015-03-31 1.TSM 2.HSBC 3.BBL 4.CHLUSD 5.IBN 6.FXI 7.VIPS 1.5 03-15-19 8.INFY 9.QIHU 2.5 09-15-18 10.TTMCHF
2014-12-31	40	$419.0M	—	1TSM 2HSBC 3IBN Top holdings2014-12-31 1.TSM 2.HSBC 3.IBN 4.VIPS 1.5 03-15-19 5.XXI 6.SFUN 2 12-15-18 7.UMC 8.CHLUSD 9.G73030 10.73935A

Holding changes this quarter

NINE MASTS CAPITAL Ltd's most significant position changes for 2026-03-31: Sold out: Ishares Bitcoin Trust ETF (IBIT); New buy: Alphabet Inc-cl C (GOOG); New buy: Hdfc Bank Ltd-adr (HDB); New buy: Silicon Laboratories INC (SLAB); New buy: Webster Financial CORP (WBS).

Position changes disclosed by NINE MASTS CAPITAL Ltd for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	BABA 0.5 06-01-31	Alibaba Group Holding	+4.4%	+68.25%	Add
2	WBD	Warner Bros Discovery INC	+3.2%	+773.24%	Add
3	EA	Electronic Arts INC	+2.9%	+2478.93%	Add
4	AES	Aes CORP	+1.9%	+2419.13%	Add
5	HO1	Hologic INC	+1.8%	+349.21%	Add
6	CWAN	Clearwater Analytics Holdings, Inc.	+1.7%	+1271.43%	Add
7	KVUE	Kenvue INC	+1%	+217.17%	Add
8	ASX	Ase Technology Holding -adr	+0.3%	+5.08%	Add
9	RNW	ReNew Energy Global Plc	-0.5%	-30.56%	Trim
10	QRVO	Qorvo INC	-1.1%	-25.73%	Trim
11	Z	Zillow Group INC - C	-1.2%	-39.88%	Trim
12	RYAAY	Ryanair Holdings Plc-sp Adr	-1.4%	-78.59%	Trim
13	FOX	Fox CORP - Class B	-2.4%	-2.71%	Trim
14	NSC	Norfolk Southern CORP	-4.5%	-46.96%	Trim
15	SPY	Ss Spdr S&p 500 ETF Trust-us	-11.4%	+489.25%	Add
16	IBIT	Ishares Bitcoin Trust ETF	—	EXIT	Sold out
17	GOOG	Alphabet Inc-cl C	—	NEW	New buy
18	HDB	Hdfc Bank Ltd-adr	—	NEW	New buy
19	SLAB	Silicon Laboratories INC	—	NEW	New buy
20	WBS	Webster Financial CORP	—	NEW	New buy
21	✓	Cyberark Software LTD	—	EXIT	Sold out
22	GSK	Gsk Plc-spon Adr	—	EXIT	Sold out
23	ORCL 6.5 01-15-29 D	Oracle CORP	—	NEW	New buy
24	EXK	Exact Sciences CORP	—	EXIT	Sold out
25	PEN	Penumbra INC	—	NEW	New buy
26	GPN 1.5 03-01-31	Global Payments INC	—	NEW	New buy
27	SNOW 0 10-01-29	Snowflake INC	—	NEW	New buy
28	VRSN	Verisign INC	—	EXIT	Sold out
29	VAL	Valaris Limited	—	NEW	New buy
30	RNAGBP	Avidity Biosciences INC	—	EXIT	Sold out
31	DAY	Dayforce INC	—	EXIT	Sold out
32	PBR	Petroleo Brasileiro-spon Adr	—	EXIT	Sold out
33	BILL 0 04-01-30	Bill Holdings INC	—	NEW	New buy
34	BHF	Brighthouse Financial INC	—	NEW	New buy
35	ETHA	Ishares Ethereum Trust ETF	—	EXIT	Sold out
36	GTLS	Chart Industries INC	—	EXIT	Sold out
37	APLSUSD	Apellis Pharmaceuticals INC	—	NEW	New buy
38	PLTR	Palantir Technologies Inc-a	—	NEW	New buy
39	TXNM 5.75 06-01-54	Txnm Energy INC	—	NEW	New buy
40	ZS	Zscaler INC	—	NEW	New buy
41	COP	Conocophillips	—	NEW	New buy
42	UNF	Unifirst Corp/ma	—	NEW	New buy
43	BIDU	Baidu INC - Spon Adr	—	EXIT	Sold out
44	BEP	Brookfield Renewable Partners L.P.	—	NEW	New buy
45	ZIM	ZIM Integrated Shipping Services Ltd.	—	NEW	New buy
46	META	Meta Platforms Inc-class A	—	NEW	New buy
47	SHOP	Shopify INC - Class A	—	NEW	New buy
48	BTI	British American Tob-sp Adr	—	EXIT	Sold out
49	GOOGL	Alphabet Inc-cl A	—	NEW	New buy
50	CVX	Chevron CORP	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-13	13F-HR	View on EDGAR
2025-12-31	2026-02-10	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-13	13F-HR	View on EDGAR
2025-03-31	2025-05-13	13F-HR	View on EDGAR
2024-12-31	2025-02-06	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-08	13F-HR	View on EDGAR
2024-03-31	2024-05-08	13F-HR	View on EDGAR
2023-12-31	2024-02-08	13F-HR	View on EDGAR
2023-09-30	2023-11-03	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-12	13F-HR	View on EDGAR
2022-12-31	2023-02-07	13F-HR	View on EDGAR
2022-09-30	2022-10-25	13F-HR	View on EDGAR
2022-06-30	2022-08-05	13F-HR	View on EDGAR
2022-03-31	2022-05-06	13F-HR	View on EDGAR
2021-12-31	2022-02-10	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-12	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-16	13F-HR	View on EDGAR
2020-09-30	2020-12-04	Amendment	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-05	13F-HR	View on EDGAR
2020-03-31	2020-04-29	13F-HR	View on EDGAR
2019-12-31	2020-01-31	13F-HR	View on EDGAR
2019-09-30	2019-11-12	13F-HR	View on EDGAR
2019-06-30	2019-08-08	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-05-10	Amendment	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-12-06	Amendment	View on EDGAR
2018-09-30	2018-11-16	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-12	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-11	13F-HR	View on EDGAR
2016-12-31	2017-02-14	Amendment	View on EDGAR
2016-12-31	2017-02-09	13F-HR	View on EDGAR
2016-09-30	2016-11-15	13F-HR	View on EDGAR
2016-06-30	2016-08-09	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-16	13F-HR	View on EDGAR
2015-09-30	2015-11-06	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-18	13F-HR	View on EDGAR

FAQ

What is NINE MASTS CAPITAL Ltd and what type of investor is it?

NINE MASTS CAPITAL Ltd is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $692.6M, spread across 249 disclosed positions.

What are NINE MASTS CAPITAL Ltd's largest equity positions?

Based on the latest 13F filing, NINE MASTS CAPITAL Ltd's top holdings by market value are: 1. Alibaba Group Holding (BABA 0.5 06-01-31) — $147.2M (21.3%) 2. Alphabet Inc-cl C (GOOG) — $68.5M (9.9%) 3. Hdfc Bank Ltd-adr (HDB) — $47.3M (6.8%) 4. Fox CORP - Class B (FOX) — $33.7M (4.9%) 5. Warner Bros Discovery INC (WBD) — $30.6M (4.4%)

What changes did NINE MASTS CAPITAL Ltd make in its most recent portfolio filing?

In the latest reported quarter, NINE MASTS CAPITAL Ltd made 50 notable position adjustments: 23 new positions were initiated, 9 existing holdings were added to, 6 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Ishares Bitcoin Trust ETF (IBIT); New buy: Alphabet Inc-cl C (GOOG); New buy: Hdfc Bank Ltd-adr (HDB); New buy: Silicon Laboratories INC (SLAB); New buy: Webster Financial CORP (WBS)

What sectors does NINE MASTS CAPITAL Ltd focus on?

NINE MASTS CAPITAL Ltd is concentrated in the following sectors based on its current disclosed equity portfolio: • Consumer Discretionary: 29.3% • Communication Services: 26.2% • Information Technology: 16.2% • Financials: 12.8% • Industrials: 5.6% • Utilities: 4.1%

Peer Institutions

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Tolleson Wealth Management, Inc.

CIK 0001772937

Total reported value

$692.6M

92 stks

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Stale — no recent filing

Concentration45.9

Portfolio Stability10.7

Sector conviction100.0

AUM within 0.0% of this institution

View detail

Harbor Group, Inc.

CIK 0001840486

Total reported value

$692.5M

116 stks

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Concentration17.2

Portfolio Stability8.2

Sector conviction62.4

AUM within 0.0% of this institution

View detail

Harbor Advisors LLC

CIK 0001687156

Total reported value

$692.2M

197 stks

2026-03-31

Concentration52.1

Portfolio Stability16.6

Sector conviction61.3

AUM within 0.1% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

Virtu Financial LLC

CIK 0001533964

Total reported value

$2.4B

1,572 stks

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Concentration43.4

Portfolio Stability100.0

Sector conviction87.4

2 of the top 5 holdings overlap, including Alphabet Inc-cl C

View detail

FACTORIAL MANAGEMENT Ltd

CIK 0001697137

Total reported value

$3.8M

3 stks

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Concentration100.0

Portfolio Stability23.5

Sector conviction0.0

2 of the top 5 holdings overlap, including Hdfc Bank Ltd-adr

View detail

Fred Alger Management, LLC

CIK 0000003520

Total reported value

$22.8B

525 stks

2026-03-31

Concentration16.8

Portfolio Stability32.2

Sector conviction81.0

1 of the top 5 holdings overlap, including Alphabet Inc-cl C

View detail

NINE MASTS CAPITAL Ltd 13F Filing History & Holdings

CIK: 0001569356

Diversified strategyHigh-turnover traderMomentum follower

Total reported value

$692.6M

Reporting period: 2026-03-31 · Number of holdings: 249

NINE MASTS CAPITAL Ltd disclosed 249 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $692.6M and a quarterly turnover rate of 115.2%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "N"

Personality snowflake

Concentration: 29.39
Portfolio Stability: 100
Momentum/Contrarian: 100
Sector conviction: 60.82
Diversification: 100
Sizing Uniformity: 63.1

Position sizes vary widely across the portfolio (a coefficient of variation of 3.69), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim SPY
+489.2%　-$65.3M
Trim NSC
-47.0%　-$22.0M
Add BABA 0.5 06-01-31
+68.3%　$49.2M
Add WBD
+773.2%　$23.3M
Add EA
+2478.9%　$20.5M
Trim FOX
-2.7%　-$8.7M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 198 holdings (of 249 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BABA 0.5 06-01-31	Alibaba Group Holding	Stock-Consumer Disc	21.25%	+4.38%	+68.25%
2	GOOG	Alphabet Inc-cl C	Stock-Comm Services	9.89%	+9.89%	NEW
3	HDB	Hdfc Bank Ltd-adr	Stock-Financials	6.83%	+6.83%	NEW
4	FOX	Fox CORP - Class B	Stock-Comm Services	4.87%	-2.43%	-2.71%
5	WBD	Warner Bros Discovery INC	Stock-Comm Services	4.42%	+3.17%	+773.24%
6	SLAB	Silicon Laboratories INC	Stock-Tech	3.65%	+3.65%	NEW
7	NSC	Norfolk Southern CORP	Stock-Industrials	3.54%	-4.46%	-46.96%
8	EA	Electronic Arts INC	Stock-Comm Services	3.19%	+2.91%	+2478.93%
9	WBS	Webster Financial CORP	Stock-Financials	2.94%	+2.94%	NEW
10	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	2.76%	—	-18.16%
11	HO1	Hologic INC	Stock-Other	2.45%	+1.81%	+349.21%
12	NIO 4.625 10-15-30	Nio INC	Stock-Consumer Disc	2.33%	—	-15.58%
13	ASX	Ase Technology Holding -adr	Stock-Tech	2.30%	+0.25%	+5.08%
14	CWAN	Clearwater Analytics Holdings, Inc.	Stock-Tech	2.00%	+1.71%	+1271.43%
15	AES	Aes CORP	Stock-Utilities	1.99%	+1.89%	+2419.13%
16	KVUE	Kenvue INC	Stock-Consumer Staples	1.53%	+0.95%	+217.17%
17	ORCL 6.5 01-15-29 D	Oracle CORP	Stock-Tech	1.43%	+1.43%	NEW
18	QRVO	Qorvo INC	Stock-Tech	1.39%	-1.05%	-25.73%
19	JD	Jd.com Inc-adr	Stock-Consumer Disc	1.34%	—	+14.75%
20	PEN	Penumbra INC	Stock-Healthcare	1.13%	+1.13%	NEW
21	GPN 1.5 03-01-31	Global Payments INC	Stock-Industrials	1.08%	+1.08%	NEW
22	SNOW 0 10-01-29	Snowflake INC	Stock-Tech	1.06%	+1.06%	NEW
23	VAL	Valaris Limited	Stock-Energy	0.88%	+0.88%	NEW
24	TXNM	Txnm Energy INC	Stock-Utilities	0.85%	—	+41.56%
25	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.83%	-11.40%	+489.25%
26	BILL 0 04-01-30	Bill Holdings INC	Stock-Tech	0.64%	+0.64%	NEW
27	BHF	Brighthouse Financial INC	Stock-Financials	0.63%	+0.63%	NEW
28	APLSUSD	Apellis Pharmaceuticals INC	Stock-Other	0.57%	+0.57%	NEW
29	NIO	Nio INC - Adr	Stock-Consumer Disc	0.54%	—	+136.99%
30	Z	Zillow Group INC - C	Stock-Comm Services	0.51%	-1.15%	-39.88%
31	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.48%	+0.48%	NEW
32	TXNM 5.75 06-01-54	Txnm Energy INC	Stock-Utilities	0.48%	+0.48%	NEW
33	ZS	Zscaler INC	Stock-Tech	0.46%	+0.46%	NEW
34	COP	Conocophillips	Stock-Energy	0.42%	+0.42%	NEW
35	RNW	ReNew Energy Global Plc	Stock-Other	0.42%	-0.46%	-30.56%
36	UNF	Unifirst Corp/ma	Stock-Other	0.40%	+0.40%	NEW
37	JHG	Janus Henderson Group plc	Stock-Financials	0.40%	—	+37.27%
38	BEP	Brookfield Renewable Partners L.P.	Stock-Other	0.34%	+0.34%	NEW
39	ZIM	ZIM Integrated Shipping Services Ltd.	Stock-Other	0.34%	+0.34%	NEW
40	META	Meta Platforms Inc-class A	Stock-Comm Services	0.32%	+0.32%	NEW
41	SHOP	Shopify INC - Class A	Stock-Tech	0.30%	+0.30%	NEW
42	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.27%	+0.27%	NEW
43	CVX	Chevron CORP	Stock-Energy	0.27%	+0.27%	NEW
44	NVDA	Nvidia CORP	Stock-Tech	0.25%	—	+368.08%
45	NWE	Northwestern Energy Group In	Stock-Utilities	0.24%	—	—
46	RYAAY	Ryanair Holdings Plc-sp Adr	Stock-Industrials	0.23%	-1.39%	-78.59%
47	UTE0	Cantaloupe INC	Stock-Other	0.23%	—	-11.99%
48	TAIL	Cambria Tail Risk ETF	ETF-Other	0.22%	—	—
49	TSLA	Tesla INC	Stock-Consumer Disc	0.21%	—	—
50	UBER	Uber Technologies INC	Stock-Industrials	0.21%	—	+3610.24%

1–50 of 198

Portfolio Performance

Performance for Q3 2026

-1.2%

Performance Last 4 Quarters

+1.3%

Based on 56% of reported portfolio value with available pricing

Stdev: +9.4%
Beta: +0.92
Alpha: -1.9%
Max Drawdown: -6.2%
Annualized Perf: +9.8%
Batting Avg vs S&P: +35.7%
Sortino: +1.84
Stutzer: +0.31
Treynor: +0.11
Sterling: +0.61
Calmar: +1.59
Information Ratio: -0.55
Tracking Error: +5.3%
Stdev Down: +5.3%
Winning Months %: +64.3%
Losing Months %: +35.7%
Best 12 Months: +12.9%
Worst 12 Months: +8.4%
Efficiency Ratio: +0.34
Sharpe: +1.04
Stdev Sectors: +10.1%
Skewness: -0.34
Kurtosis: -0.98
Upside Potential: +3.66

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	249	$692.6M	100	1BABA 0.5 06-01-31 2GOOG 3HDB Top holdings2026-03-31 1.BABA 0.5 06-01-31 2.GOOG 3.HDB 4.FOX 5.WBD 6.SLAB 7.NSC 8.EA 9.WBS 10.QQQ
2025-12-31	120	$580.7M	100	1BABA 0.5 06-01-31 2IBIT 3SPY Top holdings2025-12-31 1.BABA 0.5 06-01-31 2.IBIT 3.SPY 4.NSC 5.FOX 6.QQQ 7.M2682V 8.NIO 4.625 10-15-30 9.QRVO 10.ASX
2025-09-30	76	$243.5M	100	1GOOG 2FOX 3VALE Top holdings2025-09-30 1.GOOG 2.FOX 3.VALE 4.HDB 5.POH3 6.07WA 7.RYAAY 8.ASX 9.DEO 10.G49667
2025-06-30	94	$274.0M	0	1IBIT 2GOOG 3RYAAY Top holdings2025-06-30 1.IBIT 2.GOOG 3.RYAAY 4.NIO 4.625 10-15-30 5.FOX 6.LBRDK 7.HES 8.SPY 9.HDB 10.GRND
2025-03-31	72	$150.6M	100	1GOOGL 2HDB 3ASX Top holdings2025-03-31 1.GOOGL 2.HDB 3.ASX 4.BRK-A 5.NIO 4.625 10-15-30 6.PDD 0 12-01-25 7.FOX 8.ONC 9.SPY 10.BABA
2024-12-31	171	$570.9M	0	1IVV 2IBIT 3SPY Top holdings2024-12-31 1.IVV 2.IBIT 3.SPY 4.HDB 5.NIO 0.5 02-01-27 6.BRK-A 7.ASX 8.ZG 9.NWSA 10.LI
2024-09-30	111	$222.6M	0	1IBIT 2HDB 3BRK-A Top holdings2024-09-30 1.IBIT 2.HDB 3.BRK-A 4.QQQ 5.ASX 6.XLK 7.NIO 0.5 02-01-27 8.ZG 9.NWSA 10.BILI 0.5 12-01-26
2024-06-30	147	$333.8M	0	1ALB 7.25 03-01-27 2HDB 3GOOGL Top holdings2024-06-30 1.ALB 7.25 03-01-27 2.HDB 3.GOOGL 4.NEE 7.299 06-01-27 5.XLK 6.EEM 7.TYL 8.WOLF 0.25 02-15-28 9.ON 0.5 03-01-29 10.NIO 0.5 02-01-27
2024-03-31	77	$383.4M	0	1ALB 7.25 03-01-27 2LYV 3.125 01-15-29 3NET 0 08-15-26 Top holdings2024-03-31 1.ALB 7.25 03-01-27 2.LYV 3.125 01-15-29 3.NET 0 08-15-26 4.PODD 0.375 09-01-26 5.ON 0.5 03-01-29 6.GOOGL 7.UBER 0 12-15-25 8.POST 2.5 08-15-27 9.NTNX 0.25 10-01-27 10.HDB
2023-12-31	30	$134.4M	0	1PODD 0.375 09-01-26 2COIN 0.5 06-01-26 3HDB Top holdings2023-12-31 1.PODD 0.375 09-01-26 2.COIN 0.5 06-01-26 3.HDB 4.UBER 0 12-15-25 5.POST 2.5 08-15-27 6.NIO 0.5 02-01-27 7.GOOGL 8.XYZ 0 05-01-26 9.G49667 10.FOX
2023-09-30	36	$139.2M	0	1HDB 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-09-30 1.HDB 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.POST 2.5 08-15-27 5.VNET 0 02-01-26 6.SPLKCHF 7.XYZ 0 05-01-26 8.XPEV 9.U 0 11-15-26 10.NIO 0.5 02-01-27
2023-06-30	31	$130.6M	0	1SPLK 1.125 09-15-25 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-06-30 1.SPLK 1.125 09-15-25 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.HDB 5.TDOC 0.875 06-01-25 6.VNET 0 02-01-26 7.U 0 11-15-26 8.ETSY 0.125 09-01-27 9.XYZ 0 05-01-26 10.GOOGL
2023-03-31	28	$94.4M	0	1FOX 2COIN 0.5 06-01-26 3UBER 0 12-15-25 Top holdings2023-03-31 1.FOX 2.COIN 0.5 06-01-26 3.UBER 0 12-15-25 4.VNET 0 02-01-26 5.U 0 11-15-26 6.HDB 7.BIII-UN 8.BRK-B 9.G49667 10.CLNE
2022-12-31	47	$313.2M	0	1TSM 2FOX 3XYZ 0.125 03-01-25 Top holdings2022-12-31 1.TSM 2.FOX 3.XYZ 0.125 03-01-25 4.BABA 5.XYZ 0 05-01-26 6.UBER 0 12-15-25 7.TSLA 8.BRK-B 9.VNET 0 02-01-26 10.TDOC 0.875 06-01-25
2022-09-30	43	$258.5M	0	1GOOGL 2TSM 3FOX Top holdings2022-09-30 1.GOOGL 2.TSM 3.FOX 4.XYZ 0.125 03-01-25 5.UBER 0 12-15-25 6.BABA 7.COUP 0.125 06-15-25 8.XYZ 0 05-01-26 9.VNET 0 02-01-26 10.G0447J
2022-06-30	46	$374.4M	0	1TSM 2GOOGL 3BABA Top holdings2022-06-30 1.TSM 2.GOOGL 3.BABA 4.FOX 5.LI 6.HDB 7.VNET 0 02-01-26 8.G0447J 9.G8601L 10.G28553
2022-03-31	47	$466.3M	0	1TSM 2FOX 3HDB Top holdings2022-03-31 1.TSM 2.FOX 3.HDB 4.GLD 5.BABA 6.G0509L 7.VNET 0 02-01-26 8.WIT 9.G0447J 10.G8601L
2021-12-31	42	$223.3M	0	1SEALTD 0.25 09-15-26 2FOX 3BABA Top holdings2021-12-31 1.SEALTD 0.25 09-15-26 2.FOX 3.BABA 4.HDB 5.G0509L 6.G0447J 7.G8601L 8.G28553 9.BHP 10.739190
2021-09-30	42	$265.3M	0	1SEALTD 0.25 09-15-26 2FOX 3PDD 0 12-01-25 Top holdings2021-09-30 1.SEALTD 0.25 09-15-26 2.FOX 3.PDD 0 12-01-25 4.G0509L 5.BABA 6.IQ 3.75 12-01-23 7.G0447J 8.G28553 9.WIT 10.G8601L
2021-06-30	30	$140.9M	100	1FOX 2PDD 0 12-01-253G0509L Top holdings2021-06-30 1.FOX 2.PDD 0 12-01-25 3.G0509L 4.G0447J 5.G28553 6.G8601L 7.IQ 3.75 12-01-23 8.WIT 9.G88672 10.RYAAY
2021-03-31	26	$126.9M	100	1BIDU 2FOX 3BILI Top holdings2021-03-31 1.BIDU 2.FOX 3.BILI 4.G28553 5.RYAAY 6.G88672 7.G39714 8.META 9.INTC 10.KT
2020-12-31	16	$116.4M	100	1GOOGL 2RYAAY 3BABA Top holdings2020-12-31 1.GOOGL 2.RYAAY 3.BABA 4.INFY 5.G28553 6.BHP 7.212873 8.G88672 9.PDD 0 10-01-24 10.RDY
2020-09-30	42	$126.4M	100	1GOOGL 2SMFG 3KT Top holdings2020-09-30 1.GOOGL 2.SMFG 3.KT 4.INFY 5.QQQ 6.JD 7.ASX 8.NTES 9.MUFG 10.AAPL
2020-06-30	21	$153.6M	100	1SMFG 2TCOM 1.99 07-01-25 3KT Top holdings2020-06-30 1.SMFG 2.TCOM 1.99 07-01-25 3.KT 4.QQQ 5.INFY 6.BABA 7.HDB 8.ASX 9.AAPL 10.MSFT
2020-03-31	24	$68.1M	100	1KT 2PVH 3ASX Top holdings2020-03-31 1.KT 2.PVH 3.ASX 4.INFY 5.HDB 6.CYOUUSD 7.UMC 8.BZUN 9.CHU 10.LFCUSD
2019-12-31	145	$329.5M	100	1KT 2GOOGL 3SPY Top holdings2019-12-31 1.KT 2.GOOGL 3.SPY 4.INFY 5.IBN 6.G0177J 7.ZAYOEUR 8.WB 1.25 11-15-22 9.INDA 10.BABA
2019-09-30	148	$524.0M	75	1GOOGL 2KT 3HDB Top holdings2019-09-30 1.GOOGL 2.KT 3.HDB 4.HSBC 5.IBN 6.SMFG 7.INFY 8.GWRUSD 9.WB 1.25 11-15-22 10.MUFG
2019-06-30	145	$698.2M	100	1GOOGL 2INFY 3KT Top holdings2019-06-30 1.GOOGL 2.INFY 3.KT 4.IBN 5.TSM 6.TAK 7.MUFG 8.RHT1EUR 9.APC3EUR 10.SMFG
2019-03-31	176	$320.8M	100	1TSM 2IBN 3GOOGL Top holdings2019-03-31 1.TSM 2.IBN 3.GOOGL 4.MUFG 5.TAK 6.SMFG 7.HTHT 0.375 11-01-22 8.KT 9.HSBC 10.DHR 4.75 04-15-22 A
2018-12-31	184	$630.2M	100	1SPY 2TSM 3MUFG Top holdings2018-12-31 1.SPY 2.TSM 3.MUFG 4.SMFG 5.IBN 6.KT 7.HDB 8.BHP 9.HSBC 10.PBR-A
2018-09-30	294	$366.8M	100	1SDRL 2PBR-A 3NXPI Top holdings2018-09-30 1.SDRL 2.PBR-A 3.NXPI 4.KT 5.HDB 6.BHP 7.MUFG 8.STGUSD 9.SMHC 10.SHYG
2018-06-30	289	$515.6M	100	1SINA 1 12-01-18 2NXPI 3TSM Top holdings2018-06-30 1.SINA 1 12-01-18 2.NXPI 3.TSM 4.SPY 5.TCOM 1.25 10-15-18 6.PBR-A 7.GOOGL 8.MGM 9.NTES 10.STGUSD
2018-03-31	251	$653.7M	84	1GOOGL 2SINA 1 12-01-18 3AABA 0 12-01-18 Top holdings2018-03-31 1.GOOGL 2.SINA 1 12-01-18 3.AABA 0 12-01-18 4.TSM 5.NXPI 6.HTT 7.TCOM 1.25 10-15-18 8.TCOM 1 07-01-20 9.G81477 10.NTES
2017-12-31	259	$750.3M	83	1GOOGL 2SINA 1 12-01-18 3HYG Top holdings2017-12-31 1.GOOGL 2.SINA 1 12-01-18 3.HYG 4.SPY 5.AABA 0 12-01-18 6.TTMCHF 7.TCOM 1 07-01-20 8.INFY 9.TCOM 1.25 10-15-18 10.TCOM 1.25 09-15-22
2017-09-30	171	$674.9M	82	1GOOGL 2SINA 1 12-01-18 3AABAUSD Top holdings2017-09-30 1.GOOGL 2.SINA 1 12-01-18 3.AABAUSD 4.TCOM 1 07-01-20 5.TCOM 1.25 09-15-22 6.XXI 7.TCOM 1.25 10-15-18 8.TTMCHF 9.IBN 10.TCOM 1.99 07-01-25
2017-06-30	179	$840.1M	96	1SINA 1 12-01-18 2GOOGL 3TSM Top holdings2017-06-30 1.SINA 1 12-01-18 2.GOOGL 3.TSM 4.AABAUSD 5.FXI 6.TCOM 1 07-01-20 7.IBN 8.AABA 0 12-01-18 9.XXI 10.TCOM 1.25 10-15-18
2017-03-31	76	$591.1M	63	1SINA 1 12-01-18 2XXI 3SMFG Top holdings2017-03-31 1.SINA 1 12-01-18 2.XXI 3.SMFG 4.INFY 5.TCOM 1 07-01-20 6.AABA 0 12-01-18 7.TCOM 1.25 10-15-18 8.TCOM 1.99 07-01-25 9.TTMCHF 10.TSM
2016-12-31	59	$487.1M	81	1SINA 1 12-01-18 2SMFG 3TCOM 1 07-01-20 Top holdings2016-12-31 1.SINA 1 12-01-18 2.SMFG 3.TCOM 1 07-01-20 4.XXI 5.SONY 6.TSL 3.5 06-15-19 7.TCOM 1.25 10-15-18 8.TCOM 1.99 07-01-25 9.NMR 10.00756M
2016-09-30	76	$498.1M	74	1SMFG 2SFUN 2 12-15-18 3SONY Top holdings2016-09-30 1.SMFG 2.SFUN 2 12-15-18 3.SONY 4.TCOM 1 07-01-20 5.TSM 6.TCOM 1.25 10-15-18 7.TSL 3.5 06-15-19 8.TCOM 1.99 07-01-25 9.HSBC 10.00756M
2016-06-30	54	$415.3M	82	1SFUN 2 12-15-18 2SMFG 3QIHU 2.5 09-15-18 Top holdings2016-06-30 1.SFUN 2 12-15-18 2.SMFG 3.QIHU 2.5 09-15-18 4.SONY 5.TCOM 1.25 10-15-18 6.TCOM 1.99 07-01-25 7.CHADUSD 8.00756M 9.26852W 10.TSM
2016-03-31	86	$534.7M	82	1SFUN 2 12-15-18 2SMFG 3QIHU 2.5 09-15-18 Top holdings2016-03-31 1.SFUN 2 12-15-18 2.SMFG 3.QIHU 2.5 09-15-18 4.98742U 5.74734M 6.CHADUSD 7.SONY 8.TCOM 1.25 10-15-18 9.43742E 10.009411
2015-12-31	81	$487.4M	100	1SFUN 2 12-15-18298742U3602675 Top holdings2015-12-31 1.SFUN 2 12-15-18 2.98742U 3.602675 4.CHADUSD 5.682128 6.TCOM 1.25 10-15-18 7.SONY 8.HYG 9.HSBC 10.43742E
2015-09-30	62	$389.7M	100	1SFUN 2 12-15-18 2CHADUSD 3FXI Top holdings2015-09-30 1.SFUN 2 12-15-18 2.CHADUSD 3.FXI 4.SONY 5.QIHU 2.5 09-15-18 6.929352 7.HSBC 8.TSM 9.IBN 10.CHLUSD
2015-06-30	88	$305.3M	100	1TSM 2SFUN 2 12-15-18 3HSBC Top holdings2015-06-30 1.TSM 2.SFUN 2 12-15-18 3.HSBC 4.QIHU 2.5 09-15-18 5.TTMCHF 6.45812P 7.BABA 8.74734M 9.16952T 10.PERF
2015-03-31	43	$487.1M	65	1TSM 2HSBC 3BBL Top holdings2015-03-31 1.TSM 2.HSBC 3.BBL 4.CHLUSD 5.IBN 6.FXI 7.VIPS 1.5 03-15-19 8.INFY 9.QIHU 2.5 09-15-18 10.TTMCHF
2014-12-31	40	$419.0M	—	1TSM 2HSBC 3IBN Top holdings2014-12-31 1.TSM 2.HSBC 3.IBN 4.VIPS 1.5 03-15-19 5.XXI 6.SFUN 2 12-15-18 7.UMC 8.CHLUSD 9.G73030 10.73935A

Holding changes this quarter

Position changes disclosed by NINE MASTS CAPITAL Ltd for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	BABA 0.5 06-01-31	Alibaba Group Holding	+4.4%	+68.25%	Add
2	WBD	Warner Bros Discovery INC	+3.2%	+773.24%	Add
3	EA	Electronic Arts INC	+2.9%	+2478.93%	Add
4	AES	Aes CORP	+1.9%	+2419.13%	Add
5	HO1	Hologic INC	+1.8%	+349.21%	Add
6	CWAN	Clearwater Analytics Holdings, Inc.	+1.7%	+1271.43%	Add
7	KVUE	Kenvue INC	+1%	+217.17%	Add
8	ASX	Ase Technology Holding -adr	+0.3%	+5.08%	Add
9	RNW	ReNew Energy Global Plc	-0.5%	-30.56%	Trim
10	QRVO	Qorvo INC	-1.1%	-25.73%	Trim
11	Z	Zillow Group INC - C	-1.2%	-39.88%	Trim
12	RYAAY	Ryanair Holdings Plc-sp Adr	-1.4%	-78.59%	Trim
13	FOX	Fox CORP - Class B	-2.4%	-2.71%	Trim
14	NSC	Norfolk Southern CORP	-4.5%	-46.96%	Trim
15	SPY	Ss Spdr S&p 500 ETF Trust-us	-11.4%	+489.25%	Add
16	IBIT	Ishares Bitcoin Trust ETF	—	EXIT	Sold out
17	GOOG	Alphabet Inc-cl C	—	NEW	New buy
18	HDB	Hdfc Bank Ltd-adr	—	NEW	New buy
19	SLAB	Silicon Laboratories INC	—	NEW	New buy
20	WBS	Webster Financial CORP	—	NEW	New buy
21	✓	Cyberark Software LTD	—	EXIT	Sold out
22	GSK	Gsk Plc-spon Adr	—	EXIT	Sold out
23	ORCL 6.5 01-15-29 D	Oracle CORP	—	NEW	New buy
24	EXK	Exact Sciences CORP	—	EXIT	Sold out
25	PEN	Penumbra INC	—	NEW	New buy
26	GPN 1.5 03-01-31	Global Payments INC	—	NEW	New buy
27	SNOW 0 10-01-29	Snowflake INC	—	NEW	New buy
28	VRSN	Verisign INC	—	EXIT	Sold out
29	VAL	Valaris Limited	—	NEW	New buy
30	RNAGBP	Avidity Biosciences INC	—	EXIT	Sold out
31	DAY	Dayforce INC	—	EXIT	Sold out
32	PBR	Petroleo Brasileiro-spon Adr	—	EXIT	Sold out
33	BILL 0 04-01-30	Bill Holdings INC	—	NEW	New buy
34	BHF	Brighthouse Financial INC	—	NEW	New buy
35	ETHA	Ishares Ethereum Trust ETF	—	EXIT	Sold out
36	GTLS	Chart Industries INC	—	EXIT	Sold out
37	APLSUSD	Apellis Pharmaceuticals INC	—	NEW	New buy
38	PLTR	Palantir Technologies Inc-a	—	NEW	New buy
39	TXNM 5.75 06-01-54	Txnm Energy INC	—	NEW	New buy
40	ZS	Zscaler INC	—	NEW	New buy
41	COP	Conocophillips	—	NEW	New buy
42	UNF	Unifirst Corp/ma	—	NEW	New buy
43	BIDU	Baidu INC - Spon Adr	—	EXIT	Sold out
44	BEP	Brookfield Renewable Partners L.P.	—	NEW	New buy
45	ZIM	ZIM Integrated Shipping Services Ltd.	—	NEW	New buy
46	META	Meta Platforms Inc-class A	—	NEW	New buy
47	SHOP	Shopify INC - Class A	—	NEW	New buy
48	BTI	British American Tob-sp Adr	—	EXIT	Sold out
49	GOOGL	Alphabet Inc-cl A	—	NEW	New buy
50	CVX	Chevron CORP	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-13	13F-HR	View on EDGAR
2025-12-31	2026-02-10	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-13	13F-HR	View on EDGAR
2025-03-31	2025-05-13	13F-HR	View on EDGAR
2024-12-31	2025-02-06	13F-HR	View on EDGAR
2024-09-30	2024-11-12	13F-HR	View on EDGAR
2024-06-30	2024-08-08	13F-HR	View on EDGAR
2024-03-31	2024-05-08	13F-HR	View on EDGAR
2023-12-31	2024-02-08	13F-HR	View on EDGAR
2023-09-30	2023-11-03	13F-HR	View on EDGAR
2023-06-30	2023-08-10	13F-HR	View on EDGAR
2023-03-31	2023-05-12	13F-HR	View on EDGAR
2022-12-31	2023-02-07	13F-HR	View on EDGAR
2022-09-30	2022-10-25	13F-HR	View on EDGAR
2022-06-30	2022-08-05	13F-HR	View on EDGAR
2022-03-31	2022-05-06	13F-HR	View on EDGAR
2021-12-31	2022-02-10	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-12	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-16	13F-HR	View on EDGAR
2020-09-30	2020-12-04	Amendment	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-05	13F-HR	View on EDGAR
2020-03-31	2020-04-29	13F-HR	View on EDGAR
2019-12-31	2020-01-31	13F-HR	View on EDGAR
2019-09-30	2019-11-12	13F-HR	View on EDGAR
2019-06-30	2019-08-08	13F-HR	View on EDGAR
2019-03-31	2019-05-06	13F-HR	View on EDGAR
2018-12-31	2019-05-10	Amendment	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-12-06	Amendment	View on EDGAR
2018-09-30	2018-11-16	13F-HR	View on EDGAR
2018-06-30	2018-08-13	13F-HR	View on EDGAR
2018-03-31	2018-05-14	13F-HR	View on EDGAR
2017-12-31	2018-02-12	13F-HR	View on EDGAR
2017-09-30	2017-11-13	13F-HR	View on EDGAR
2017-06-30	2017-08-11	13F-HR	View on EDGAR
2017-03-31	2017-05-11	13F-HR	View on EDGAR
2016-12-31	2017-02-14	Amendment	View on EDGAR
2016-12-31	2017-02-09	13F-HR	View on EDGAR
2016-09-30	2016-11-15	13F-HR	View on EDGAR
2016-06-30	2016-08-09	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-16	13F-HR	View on EDGAR
2015-09-30	2015-11-06	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-18	13F-HR	View on EDGAR