NM
NINE MASTS CAPITAL Ltd 13F Filings Tracker & Latest Positions (Q2 2026)
NINE MASTS CAPITAL LtdCIK: 0001569356
Long-term holder
Total reported value
$992.8M
Reporting period: 2026-06-30 · Number of holdings: 170
NINE MASTS CAPITAL Ltd disclosed 170 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $992.8M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 64.4
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 57.48
- Diversification
- 100
- Sizing Uniformity
- 57.97
NINE MASTS CAPITAL Ltd's disclosed holdings carry a Herfindahl concentration index of 0.161 — mathematically equivalent to about 6 equally-sized positions, well below its 170 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 4.20), 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.
Sector classification currently covers about 60% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPY
-30.3% $352.1M
Trim GOOG
-96.6% -$66.5M
Trim BABA 0.5 06-01-31
0.0% -$22.0M
Add HDB
+105.5% $53.6M
Sold out QQQ
Sold out HO1
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 115 holdings (of 170 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 36.04% | +35.21% | -30.33% | |
| 2 | BABA 0.5 06-01-31Bond | Alibaba Group Holding | Bond | 12.61% | -8.64% | — | |
| 3 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 10.16% | +3.33% | +105.47% | |
| 4 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 3.21% | -1.21% | -48.33% | |
| 5 | FOX | Fox CORP - Class B | Stock-Comm Services | 3.00% | -1.87% | — | |
| 6 | SLAB | Silicon Laboratories Inc | Stock-Tech | 2.08% | -1.57% | -59.14% | |
| 7 | KVUE | Kenvue Inc | Stock-Consumer Staples | 2.04% | +0.51% | +72.39% | |
| 8 | EA | Electronic Arts Inc | Stock-Comm Services | 2.03% | -1.16% | -52.65% | |
| 9 | NIO 4.625 10-15-30Bond | Nio Inc | Bond | 1.65% | -0.68% | — | |
| 10 | SMCI 3.5 03-01-29Bond | Super Micro Computer Inc | Bond | 1.63% | +1.63% | NEW | |
| 11 | NSC | Norfolk Southern CORP | Stock-Industrials | 1.62% | -1.92% | -40.02% | |
| 12 | ✓ | Stock-Other | 1.47% | +1.47% | NEW | ||
| 13 | BCS | Barclays Plc-spons Adr | Stock-Financials | 1.34% | +1.34% | NEW | |
| 14 | QRVO | Qorvo Inc | Stock-Tech | 1.22% | -0.17% | +4.24% | |
| 15 | ROKU | Roku Inc | Stock-Comm Services | 1.15% | +1.15% | NEW | |
| 16 | WBS | Webster Financial CORP | Stock-Financials | 0.85% | -2.09% | -62.14% | |
| 17 | LYG | Lloyds Banking Group Plc-adr | Stock-Financials | 0.81% | +0.81% | NEW | |
| 18 | JD | Jd.com Inc-adr | Stock-Consumer Disc | 0.81% | -0.53% | — | |
| 19 | TXNM | Txnm Energy Inc | Stock-Utilities | 0.79% | -0.06% | +37.86% | |
| 20 | PEN | Penumbra Inc | Stock-Healthcare | 0.74% | -0.39% | -2.02% | |
| 21 | ASX | Ase Technology Holding -adr | Stock-Tech | 0.72% | -1.58% | -79.65% | |
| 22 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.69% | +0.50% | -98.29% | |
| 23 | GTLS | Chart Industries Inc | Stock-Industrials | 0.64% | +0.64% | NEW | |
| 24 | BLD | Topbuild CORP | Stock-Industrials | 0.60% | +0.60% | NEW | |
| 25 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.58% | +0.10% | -83.23% | |
| 26 | IRTC 1.5 09-01-29Bond | Irhythm Holdings Inc | Bond | 0.55% | +0.55% | NEW | |
| 27 | COP | Conocophillips | Stock-Energy | 0.52% | +0.10% | -86.37% | |
| 28 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.48% | +0.21% | -97.28% | |
| 29 | ✓ | Stock-Other | 0.46% | +0.46% | NEW | ||
| 30 | BHF | Brighthouse Financial Inc | Stock-Financials | 0.46% | -0.17% | -50.44% | |
| 31 | KT | Kt Corp-sp Adr | Stock-Other | 0.40% | +0.40% | NEW | |
| 32 | UNF | Unifirst Corp/ma | Stock-Other | 0.35% | -0.05% | +17.84% | |
| 33 | NIO | Nio Inc - Adr | Stock-Consumer Disc | 0.34% | -0.20% | -57.23% | |
| 34 | RNW | ReNew Energy Global Plc | Stock-Other | 0.29% | -0.13% | -25.87% | |
| 35 | JHG | Janus Henderson Group plc | Stock-Financials | 0.28% | -0.12% | — | |
| 36 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 0.28% | +0.12% | -37.22% | |
| 37 | ZIM | ZIM Integrated Shipping Services Ltd. | Stock-Other | 0.27% | -0.07% | +14.43% | |
| 38 | Z | Zillow Group Inc - C | Stock-Comm Services | 0.27% | -0.24% | -1.69% | |
| 39 | TCOM 0.75 06-15-29Bond | Trip.com Group LTD | Bond | 0.25% | +0.25% | NEW | |
| 40 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.24% | +0.03% | -98.01% | |
| 41 | DBRG | Digitalbridge Group Inc | Stock-Financials | 0.23% | +0.06% | +88.13% | |
| 42 | SHOP | Shopify Inc - Class A | Stock-Tech | 0.23% | -0.07% | -98.60% | |
| 43 | NDAQ | Nasdaq Inc | Stock-Financials | 0.22% | +0.06% | +106.50% | |
| 44 | ZS | Zscaler Inc | Stock-Tech | 0.21% | -0.25% | -99.10% | |
| 45 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.20% | -9.69% | -96.64% | |
| 46 | NWE | Northwestern Energy Group In | Stock-Utilities | 0.20% | -0.04% | +9.99% | |
| 47 | VAL | Valaris Limited | Stock-Energy | 0.20% | -0.68% | -56.58% | |
| 48 | NEE | Nextera Energy Inc | Stock-Utilities | 0.18% | +0.18% | NEW | |
| 49 | PFE | Pfizer Inc | Stock-Healthcare | 0.17% | +0.13% | -56.27% | |
| 50 | AVGO | Broadcom Inc | Stock-Tech | 0.15% | +0.09% | -97.33% |
1–50 of 115
Portfolio Performance
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+19.2%
Based on 66% of reported portfolio value with available pricing
- Stdev
- +12.7%
- Beta
- +0.91
- Alpha
- +0.7%
- Max Drawdown
- -9.4%
- Annualized Perf
- +16.9%
- Batting Avg vs S&P
- +62.5%
- Sortino
- +2.6
- Stutzer
- +0.39
- Treynor
- +0.18
- Sterling
- +0.98
- Calmar
- +1.81
- Information Ratio
- -0.16
- Tracking Error
- +5.7%
- Stdev Down
- +6.4%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +36.4%
- Worst 12 Months
- +14.7%
- Efficiency Ratio
- +0.47
- Sharpe
- +1.3
- Stdev Sectors
- +9.6%
- Skewness
- +0.06
- Kurtosis
- -0.38
- Upside Potential
- +4.37
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 170 | $992.8M | 0 | ||
| 2026 Q1 | 249 | $692.6M | 100 | ||
| 2025 Q4 | 120 | $580.7M | 100 | ||
| 2025 Q3 | 76 | $243.5M | 100 | ||
| 2025 Q2 | 94 | $274.0M | 0 | ||
| 2025 Q1 | 72 | $150.6M | 100 | ||
| 2024 Q4 | 171 | $570.9M | 0 | ||
| 2024 Q3 | 111 | $222.6M | 0 | ||
| 2024 Q2 | 147 | $333.8M | 0 | ||
| 2024 Q1 | 77 | $383.4M | 0 | 1ALB 7.25 03-01-272LYV 3.125 01-15-293NET 0 08-15-26 | |
| 2023 Q4 | 30 | $134.4M | 0 | ||
| 2023 Q3 | 36 | $139.2M | 0 | ||
| 2023 Q2 | 31 | $130.6M | 0 | 1SPLK 1.125 09-15-252COIN 0.5 06-01-263UBER 0 12-15-25 | |
| 2023 Q1 | 28 | $94.4M | 0 | ||
| 2022 Q4 | 47 | $313.2M | 0 | ||
| 2022 Q3 | 43 | $258.5M | 0 | ||
| 2022 Q2 | 46 | $374.4M | 0 | ||
| 2022 Q1 | 47 | $466.3M | 0 | ||
| 2021 Q4 | 42 | $223.3M | 0 | ||
| 2021 Q3 | 42 | $265.3M | 0 | ||
| 2021 Q2 | 30 | $140.9M | 100 | ||
| 2021 Q1 | 26 | $126.9M | 100 | ||
| 2020 Q4 | 16 | $116.4M | 100 | ||
| 2020 Q3 | 42 | $126.4M | 100 | ||
| 2020 Q2 | 21 | $153.6M | 100 | ||
| 2020 Q1 | 24 | $68.1M | 100 | ||
| 2019 Q4 | 145 | $329.5M | 100 | ||
| 2019 Q3 | 148 | $524.0M | 75 | ||
| 2019 Q2 | 145 | $698.2M | 100 | ||
| 2019 Q1 | 176 | $320.8M | 100 | ||
| 2018 Q4 | 184 | $630.2M | 100 | ||
| 2018 Q3 | 294 | $366.8M | 100 | ||
| 2018 Q2 | 289 | $515.6M | 100 | ||
| 2018 Q1 | 251 | $653.7M | 84 | ||
| 2017 Q4 | 259 | $750.3M | 83 | ||
| 2017 Q3 | 171 | $674.9M | 82 | ||
| 2017 Q2 | 179 | $840.1M | 96 | ||
| 2017 Q1 | 76 | $591.1M | 63 | ||
| 2016 Q4 | 59 | $487.1M | 81 | ||
| 2016 Q3 | 76 | $498.1M | 74 | ||
| 2016 Q2 | 54 | $415.3M | 82 | ||
| 2016 Q1 | 86 | $534.7M | 82 | ||
| 2015 Q4 | 81 | $487.4M | 100 | 1SFUN 2 12-15-18298742U3602675 | |
| 2015 Q3 | 62 | $389.7M | 100 | ||
| 2015 Q2 | 88 | $305.3M | 100 | ||
| 2015 Q1 | 43 | $487.1M | 65 | ||
| 2014 Q4 | 40 | $419.0M | — |
Holding changes this quarter
NINE MASTS CAPITAL Ltd's most significant position changes for 2026-06-30: Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Hologic Inc (HO1); New buy: Super Micro Computer Inc (SMCI 3.5 03-01-29); New buy: ; Sold out: Clearwater Analytics Holdings, Inc. (CWAN).
Showing top 200 changes by size (of 245 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +35.2% | -30.33% | Trim |
| 2 | HDB | Hdfc Bank Ltd-adr | +3.3% | +105.47% | Add |
| 3 | SMCI 3.5 03-01-29Bond | Super Micro Computer Inc | +1.6% | NEW | New buy |
| 4 | ✓ | +1.5% | NEW | New buy | |
| 5 | BCS | Barclays Plc-spons Adr | +1.3% | NEW | New buy |
| 6 | ROKU | Roku Inc | +1.2% | NEW | New buy |
| 7 | LYG | Lloyds Banking Group Plc-adr | +0.8% | NEW | New buy |
| 8 | GTLS | Chart Industries Inc | +0.6% | NEW | New buy |
| 9 | BLD | Topbuild CORP | +0.6% | NEW | New buy |
| 10 | IRTC 1.5 09-01-29Bond | Irhythm Holdings Inc | +0.6% | NEW | New buy |
| 11 | KVUE | Kenvue Inc | +0.5% | +72.39% | Add |
| 12 | PANW | Palo Alto Networks Inc | +0.5% | -98.29% | Trim |
| 13 | ✓ | +0.5% | NEW | New buy | |
| 14 | KT | Kt Corp-sp Adr | +0.4% | NEW | New buy |
| 15 | TCOM 0.75 06-15-29Bond | Trip.com Group LTD | +0.3% | NEW | New buy |
| 16 | GOOGL | Alphabet Inc-cl A | +0.2% | -97.28% | Trim |
| 17 | NEE | Nextera Energy Inc | +0.2% | NEW | New buy |
| 18 | PCT | Purecycle Technologies Inc | +0.2% | NEW | New buy |
| 19 | PFE | Pfizer Inc | +0.1% | -56.27% | Trim |
| 20 | APGE | Apogee Therapeutics Inc | +0.1% | NEW | New buy |
| 21 | AVNS | Avanos Medical Inc | +0.1% | NEW | New buy |
| 22 | PDD | Pdd Holdings Inc | +0.1% | -37.22% | Trim |
| 23 | WTRG | Essential Utilities Inc | +0.1% | NEW | New buy |
| 24 | TWO | Two Harbors Investment CORP | +0.1% | NEW | New buy |
| 25 | MSFT | Microsoft CORP | +0.1% | NEW | New buy |
| 26 | PLTR | Palantir Technologies Inc-a | +0.1% | -83.23% | Trim |
| 27 | COP | Conocophillips | +0.1% | -86.37% | Trim |
| 28 | AVGO | Broadcom Inc | +0.1% | -97.33% | Trim |
| 29 | CEG | Constellation Energy | +0.1% | -64.62% | Trim |
| 30 | TLN | Talen Energy CORP | +0.1% | -54.41% | Trim |
| 31 | DBRG | Digitalbridge Group Inc | +0.1% | +88.13% | Add |
| 32 | NDAQ | Nasdaq Inc | +0.1% | +106.50% | Add |
| 33 | BZH | Beazer Homes USA Inc | +0.1% | NEW | New buy |
| 34 | IMXI | International Money Express | +0.1% | NEW | New buy |
| 35 | CRM | Salesforce Inc | +0.1% | -81.58% | Trim |
| 36 | RAMP | Liveramp Holdings Inc | +0.1% | NEW | New buy |
| 37 | SCCO | Southern Copper CORP | +0.1% | NEW | New buy |
| 38 | FUTU | Futu Holdings Ltd-adr | 0% | -77.52% | Trim |
| 39 | INMD | InMode Ltd. | 0% | NEW | New buy |
| 40 | COHR | Coherent CORP | 0% | NEW | New buy |
| 41 | B | Barrick Mining CORP | 0% | NEW | New buy |
| 42 | NEM | Newmont CORP | 0% | NEW | New buy |
| 43 | VERA | Vera Therapeutics Inc | 0% | NEW | New buy |
| 44 | FCX | Freeport-mcmoran Inc | 0% | NEW | New buy |
| 45 | AXTA | Axalta Coating Systems Ltd. | 0% | NEW | New buy |
| 46 | VALE | Vale Sa-sp Adr | 0% | NEW | New buy |
| 47 | WPM | Wheaton Precious Metals CORP | 0% | NEW | New buy |
| 48 | NOW | Servicenow Inc | 0% | NEW | New buy |
| 49 | TSLA | Tesla Inc | 0% | -98.01% | Trim |
| 50 | CRWD | Crowdstrike Holdings Inc - A | 0% | -98.54% | Trim |
1–50 of 200
Filing History
FAQ
What is NINE MASTS CAPITAL Ltd and what type of investor is it?
NINE MASTS CAPITAL Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $992.8M, spread across 170 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. Ss Spdr S&p 500 ETF Trust-us (SPY) — $357.8M (36.0%)
2. Alibaba Group Holding (BABA 0.5 06-01-31) — $125.2M (12.6%)
3. Hdfc Bank Ltd-adr (HDB) — $100.9M (10.2%)
4. Warner Bros Discovery Inc (WBD) — $31.9M (3.2%)
5. Fox CORP - Class B (FOX) — $29.8M (3.0%)
What changes did NINE MASTS CAPITAL Ltd make in its most recent portfolio filing?
In the latest reported quarter, NINE MASTS CAPITAL Ltd made 195 notable position adjustments: 47 new positions were initiated, 9 existing holdings were added to, 47 positions were partially reduced, and 92 were completely exited. The largest of these moves: Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Hologic Inc (HO1); New buy: Super Micro Computer Inc (SMCI 3.5 03-01-29); New buy: ; Sold out: Clearwater Analytics Holdings, Inc. (CWAN)
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: 27.6%
• Financials: 24.4%
• Communication Services: 17.6%
• Information Technology: 13.8%
• Industrials: 5.2%
• Consumer Staples: 3.4%
Investment Profile
NINE MASTS CAPITAL Ltd returned an annualized 16.9% over the trailing 24 months — outperforming the S&P 500 by 0.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 63% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding.
Its concentration score has risen from 40 to 64 over the past 4 quarters — a shift toward higher-conviction positions.
It has added to its WBD position over the past two quarters (+$24.6M, now $31.9M), while trimming NSC over the same stretch (-$30.3M, still holding $16.1M).
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Developer Access
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REST API
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