NINE MASTS CAPITAL Ltd
Long book
$451.1M
Q1 2026
Positions
155
Top-10 weight
68%
concentration
Last quarter
+11.5%
SPY +14.8%
Turnover
82%
of book per quarter
Strategy in plain words
auto-generated from filingsNINE MASTS CAPITAL Ltd is a diversified fundamental manager, running a $451.1M US long book across 155 positions.
The portfolio is concentrated: the top 10 names carry 68% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ALPHABET INC-CL C, HDFC BANK LTD-ADR, FOX CORP - CLASS B, WARNER BROS DISCOVERY INC, SILICON LABORATORIES INC.
Over the last 9 quarters its long book ran on average 0.9pp per quarter ahead of the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.8%
Q2 2024
+2.2%
Q3 2024
+10.9%
Q4 2024
-3.4%
Q1 2025
+8.2%
Q2 2025
+6.9%
Q3 2025
+16.3%
Q4 2025
-7.9%
Q1 2026
+11.5%
Sector allocation
Technology 38%
Communications 19%
Other 11%
Financials 8%
Industrials 8%
Utilities 7%
Healthcare 4%
Services media 2%
Long book by quarter
What does NINE MASTS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOG ALPHABET INC-CL C | Technology | 238.9K | $68.5M | 15.2% | New |
| FOX FOX CORP - CLASS B | Communications | 635.5K | $33.7M | 7.5% | -2.7% |
| WBD WARNER BROS DISCOVERY INC | Communications | 1.1M | $29.2M | 6.5% | +322.9% |
| SLAB SILICON LABORATORIES INC | Technology | 119.4K | $24.8M | 5.5% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 85.3K | $24.5M | 5.4% | -47.0% |
| EA ELECTRONIC ARTS INC | Technology | 107.2K | $21.9M | 4.8% | +1234.2% |
| WBS WEBSTER FINANCIAL CORP | Financials | 293.3K | $20.4M | 4.5% | New |
| HO1 HOLOGIC INC | — | 224.6K | $17.0M | 3.8% | +349.2% |
| AES AES CORP | Utilities | 979.9K | $13.8M | 3.1% | +2419.1% |
| KVUE KENVUE INC | Other | 614.9K | $10.6M | 2.3% | +217.2% |
| QRVO QORVO INC | Technology | 124.7K | $9.7M | 2.1% | -25.7% |
| PEN PENUMBRA INC | Healthcare | 23.7K | $7.8M | 1.7% | New |
| VAL VALARIS LTD | Energy | 61.9K | $6.1M | 1.3% | New |
| TXNM TXNM ENERGY INC | Utilities | 100.5K | $5.9M | 1.3% | +41.6% |
| BHF BRIGHTHOUSE FINANCIAL INC | Financials | 70.8K | $4.2M | 0.9% | New |
| APLSUSD APELLIS PHARMACEUTICALS INC | — | 97.5K | $3.9M | 0.9% | New |
| Z ZILLOW GROUP INC - C | Services media | 85.1K | $3.5M | 0.8% | -39.9% |
| RNW RENEW ENERGY GLOBAL PLC-A | Utilities | 630.9K | $2.9M | 0.6% | -30.6% |
| UNF UNIFIRST CORP/MA | Services media | 11.1K | $2.8M | 0.6% | New |
| ZIM ZIM INTEGRATED SHIPPING SERV | Industrials | 90.1K | $2.4M | 0.5% | New |
| NWE NORTHWESTERN ENERGY GROUP IN | Utilities | 25.0K | $1.6M | 0.4% | New |
| UTE0 CANTALOUPE INC | — | 146.7K | $1.6M | 0.4% | -47.7% |
| DBRG DIGITALBRIDGE GROUP INC | Financials | 78.2K | $1.2M | 0.3% | New |
| NDAQ NASDAQ INC | Financials | 13.1K | $1.1M | 0.2% | New |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 11.0K | $1.1M | 0.2% | New |
| LEG LEGGETT & PLATT INC | Other | 101.2K | $1000K | 0.2% | New |
| NFLX NETFLIX INC | Services media | 8.0K | $765K | 0.2% | -43.7% |
| NVDA NVIDIA CORP | Technology | 3.9K | $679K | 0.2% | -57.3% |
| HIMS HIMS & HERS HEALTH INC | Healthcare | 25.0K | $519K | 0.1% | New |
| QGEN QIAGEN N.V. | Healthcare | 12.5K | $501K | 0.1% | New |
| AMCR AMCOR PLC | Other | 12.0K | $477K | 0.1% | New |
| VECO VEECO INSTRUMENTS INC | Industrials | 12.5K | $424K | 0.1% | New |
| LLY ELI LILLY & CO | Healthcare | 450 | $414K | 0.1% | New |
| AZN ASTRAZENECA PLC | Healthcare | 2.0K | $394K | 0.1% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 888 | $162K | 0.0% | New |
| SCHW SCHWAB (CHARLES) CORP | Financials | 1.1K | $99K | 0.0% | -74.2% |
| SST SYSTEM1 INC | Technology | 18.5K | $56K | 0.0% | New |
| PIII P3 HEALTH PARTNERS INC | Healthcare | 18.0K | $55K | 0.0% | New |
| GALT GALECTIN THERAPEUTICS INC | Healthcare | 19.3K | $54K | 0.0% | New |
| ACH ACCENDRA HEALTH INC | Consumer discretionary | 22.4K | $51K | 0.0% | New |
| LUNG PULMONX CORP | Healthcare | 38.6K | $50K | 0.0% | +281.9% |
| BMEA BIOMEA FUSION INC | Healthcare | 32.5K | $50K | 0.0% | New |
| FF FUTUREFUEL CORP | Other | 12.8K | $49K | 0.0% | New |
| OTLK OUTLOOK THERAPEUTICS INC | Healthcare | 232.5K | $48K | 0.0% | New |
| PRQR PROQR THERAPEUTICS NV | Healthcare | 29.5K | $48K | 0.0% | New |
| IRWD IRONWOOD PHARMACEUTICALS INC | Healthcare | 13.5K | $47K | 0.0% | New |
| CURV TORRID HOLDINGS INC | Consumer discretionary | 26.0K | $46K | 0.0% | New |
| LCTX LINEAGE CELL THERAPEUTICS IN | Healthcare | 29.2K | $46K | 0.0% | New |
| WTI W&T OFFSHORE INC | Energy | 13.5K | $46K | 0.0% | +5.7% |
| FLNA FILANA THERAPEUTICS INC | Healthcare | 27.1K | $46K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 249 | $692.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 120 | $580.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 76 | $243.5M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 94 | $274.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 72 | $150.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 6, 2025 | 171 | $570.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 111 | $222.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 147 | $333.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 77 | $383.4M | canonical | SEC ↗ |
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