Q4 2025 · 13F-HR
NINE MASTS CAPITAL Ltdholdings as filed
Filed 2026-02-10 · accession 0001569356-26-000001
$580.7M
Reported value
120
Positions
2025-12-31
Period end
The Brief · NINE MASTS CAPITAL Ltd · Q4 2025
AI · grounded in 13F
NINE MASTS CAPITAL Ltd initiated a new position in ALIBABA GROUP HLDG LTD [[stock:BABA 0.5 06/01/31]] valued at $97.9M. The fund also added new positions in ISHARES BITCOIN TRUST ETF IBIT for $93.7M and NORFOLK SOUTHN CORP NSC for $46.4M. On the sell side, the fund closed its position in ALPHABET INC GOOG, reducing exposure by $52.6M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $98.0M | 16.9% | 63,000 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $93.8M | 16.2% | 1,889,214 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $71.0M | 12.2% | 104,139 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $46.4M | 8.00% | 160,852 | Common | SOLE |
| 35137L204 | FOX | FOX CORP | $42.4M | 7.30% | 653,175 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $19.0M | 3.27% | 40,453 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $18.5M | 3.18% | 41,403 | Common | SOLE |
| 62914VAK2 | NIO 4.625 10/15/30 | NIO INC | $17.0M | 2.93% | 19,250 | Common | SOLE |
| 74736K101 | QRVO | QORVO INC | $14.2M | 2.44% | 167,956 | Common | SOLE |
| 00215W100 | ASX | ASE TECHNOLOGY HLDG CO LTD | $11.9M | 2.05% | 739,619 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $10.1M | 1.74% | 205,929 | Common | SOLE |
| 98954M200 | Z | ZILLOW GROUP INC | $9.7M | 1.66% | 141,496 | Common | SOLE |
| 30063P105 | EXK | EXACT SCIENCES CORP | $9.5M | 1.64% | 93,717 | Common | SOLE |
| 783513203 | RYAAY | RYANAIR HOLDINGS PLC | $9.5M | 1.63% | 131,521 | Common | SOLE |
| 47215P106 | JD | JD.COM INC | $7.9M | 1.35% | 273,890 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $7.3M | 1.25% | 251,849 | Common | SOLE |
| 92343E102 | VRSN | VERISIGN INC | $6.8M | 1.17% | 13,548 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $5.7M | 0.98% | 78,786 | Common | SOLE |
| G7500M104 | RNW | RENEW ENERGY GLOBAL PLC | $5.1M | 0.88% | 908,549 | Common | SOLE |
| 15677J108 | DAY | DAYFORCE INC | $5.1M | 0.88% | 73,879 | Common | SOLE |
| 71654V408 | PBR | PETROLEO BRASILEIRO SA PETRO | $4.9M | 0.84% | 410,245 | Common | SOLE |
| 46438R105 | ETHA | ISHARES ETHEREUM TR | $4.4M | 0.75% | 195,193 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $4.2M | 0.72% | 70,981 | Common | SOLE |
| 16115Q308 | GTLS | CHART INDS INC | $4.1M | 0.71% | 19,865 | Common | SOLE |
| 436440101 | HO1 | HOLOGIC INC | $3.7M | 0.64% | 50,000 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $3.3M | 0.58% | 193,863 | Common | SOLE |
| 138103106 | UTE0 | CANTALOUPE INC | $3.0M | 0.51% | 280,363 | Common | SOLE |
| 056752108 | BIDU | BAIDU INC | $2.6M | 0.45% | 19,811 | Common | SOLE |
| 62914V106 | NIO | NIO INC | $2.4M | 0.42% | 474,500 | Common | SOLE |
| 110448107 | BTI | BRITISH AMERN TOB PLC | $2.0M | 0.34% | 34,475 | Common | SOLE |
| G4474Y214 | JHG | JANUS HENDERSON GROUP PLC | $1.9M | 0.32% | 39,523 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $1.7M | 0.29% | 9,121 | Common | SOLE |
| 14365C103 | POH3 | CARNIVAL PLC | $1.7M | 0.29% | 55,335 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $1.7M | 0.29% | 69,323 | Common | SOLE |
| 285512109 | EA | ELECTRONIC ARTS INC | $1.6M | 0.28% | 8,034 | Common | SOLE |
| 126349109 | CSN | CSG SYS INTL INC | $1.5M | 0.26% | 20,000 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $1.3M | 0.23% | 14,117 | Common | SOLE |
| G0750C108 | AXTA | AXALTA COATING SYS LTD | $1.3M | 0.22% | 40,000 | Common | SOLE |
| 53656G498 | MAGS | LISTED FDS TR | $1.2M | 0.21% | 18,309 | Common | SOLE |
| 81686C104 | 628 | SEMRUSH HLDGS INC | $1.2M | 0.20% | 100,000 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC | $1.2M | 0.20% | 7,605 | Common | SOLE |
| 35909D109 | FYBR | FRONTIER COMMUNICATIONS PARE | $1.1M | 0.20% | 30,000 | Common | SOLE |
| G16252101 | BIP | BROOKFIELD INFRAST PARTNERS | $1.1M | 0.19% | 31,549 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $1.0M | 0.18% | 8,486 | Common | SOLE |
| 87901J105 | TGNA | TEGNA INC | $893,442 | 0.15% | 46,030 | Common | SOLE |
| 90187B804 | TWO | TWO HBRS INVT CORP | $850,500 | 0.15% | 81,000 | Common | SOLE |
| N53745100 | LYB | LYONDELLBASELL INDUSTRIES N | $828,156 | 0.14% | 19,126 | Common | SOLE |
| 88339J105 | TTD | THE TRADE DESK INC | $778,180 | 0.13% | 20,500 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $756,016 | 0.13% | 16,277 | Common | SOLE |
| 81211K100 | SDA | SEALED AIR CORP NEW | $755,807 | 0.13% | 18,243 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $746,787 | 0.13% | 6,586 | Common | SOLE |
| 530715AL5 | LINTA 3.75 02/15/30 | LIBERTY MEDIA CORP DEL | $714,000 | 0.12% | 10,200 | Common | SOLE |
| 03748R747 | AIV | APARTMENT INVT & MGMT CO | $712,800 | 0.12% | 120,000 | Common | SOLE |
| 03152W109 | AM6 | AMICUS THERAPEUTICS INC | $712,000 | 0.12% | 50,000 | Common | SOLE |
| 46005L101 | IMXI | INTERNATIONAL MNY EXPRESS IN | $691,200 | 0.12% | 45,000 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $616,882 | 0.11% | 35,453 | Common | SOLE |
| 64110W102 | NTES | NETEASE INC | $583,879 | 0.10% | 4,235 | Common | SOLE |
| 00130H105 | AES | AES CORP | $557,826 | 0.10% | 38,900 | Common | SOLE |
| G0250X107 | AMCR | AMCOR PLC | $542,100 | 0.09% | 65,000 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $539,420 | 0.09% | 4,000 | Common | SOLE |
| 980228308 | WDS | WOODSIDE ENERGY GROUP LTD | $535,002 | 0.09% | 34,317 | Common | SOLE |
| 489398107 | KW | KENNEDY-WILSON HOLDINGS INC | $534,703 | 0.09% | 55,295 | Common | SOLE |
| 128125101 | CSQ | CALAMOS STRATEGIC TOTAL RETU | $531,130 | 0.09% | 27,663 | Common | SOLE |
| 78440P306 | SKM | SK TELECOM CO LTD | $528,606 | 0.09% | 25,748 | Common | SOLE |
| 36266G107 | GEHC | GE HEALTHCARE TECHNOLOGIES I | $519,925 | 0.09% | 6,339 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $409,131 | 0.07% | 4,095 | Common | SOLE |
| 46131H107 | VVR | INVESCO SR INCOME TR | $398,963 | 0.07% | 122,007 | Common | SOLE |
| 78518H202 | BRW | SABA CAPITAL INCOME & OPRNT | $382,339 | 0.07% | 54,542 | Common | SOLE |
| 268158201 | DVAX | DYNAVAX TECHNOLOGIES CORP | $378,794 | 0.07% | 24,629 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $338,361 | 0.06% | 4,141 | Common | SOLE |
| 981064108 | WF | WOORI FINL GROUP INC | $286,190 | 0.05% | 4,868 | Common | SOLE |
| 98400T106 | — | XAI OCTAGN FLT RAT & ALT INM | $258,259 | 0.04% | 53,804 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $121,293 | 0.02% | 20,300 | PUT | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $77,500 | 0.01% | 10,000 | CALL | SOLE |
| 886885102 | TLYS | TILLYS INC | $57,346 | 0.01% | 28,817 | Common | SOLE |
| G5568L109 | LZM | LIFEZONE METALS LIMITED | $54,267 | 0.01% | 12,709 | Common | SOLE |
| 84920Y106 | SPWH | SPORTSMANS WHSE HLDGS INC | $53,906 | 0.01% | 36,922 | Common | SOLE |
| 913483103 | UEIC | UNIVERSAL ELECTRS INC | $45,417 | 0.01% | 12,581 | Common | SOLE |
| G75398100 | RZLV | REZOLVE AI PLC | $39,581 | 0.01% | 15,401 | Common | SOLE |
| 750102105 | RXT | RACKSPACE TECHNOLOGY INC | $39,066 | 0.01% | 40,237 | Common | SOLE |
| 98421M106 | XRX | XEROX HOLDINGS CORP | $37,972 | 0.01% | 16,022 | Common | SOLE |
| 18453H106 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | $37,437 | 0.01% | 16,940 | Common | SOLE |
| 381098300 | GMGIEUR | GOLDEN MATRIX GROUP INC | $37,356 | 0.01% | 46,648 | Common | SOLE |
| 67623L307 | OPAD | OFFERPAD SOLUTIONS INC | $34,345 | 0.01% | 28,384 | Common | SOLE |
| 483467106 | KLTR | KALTURA INC | $30,852 | 0.01% | 18,812 | Common | SOLE |
| 00791N102 | — | ADVANTAGE SOLUTIONS INC | $30,791 | 0.01% | 34,990 | Common | SOLE |
| 72815G108 | MYPS | PLAYSTUDIOS INC | $28,988 | 0.00% | 44,494 | Common | SOLE |
| 629337106 | NNBR | NN INC | $28,700 | 0.00% | 22,422 | Common | SOLE |
| 374275105 | GETY | GETTY IMAGES HOLDINGS INC | $28,097 | 0.00% | 20,968 | Common | SOLE |
| 23331S100 | DHX | DHI GROUP INC | $27,674 | 0.00% | 17,854 | Common | SOLE |
| G7606H108 | RDZN | ROADZEN INC | $27,255 | 0.00% | 11,309 | Common | SOLE |
| 92971A109 | MAPS | WM TECHNOLOGY INC | $26,473 | 0.00% | 32,084 | Common | SOLE |
| 96812F102 | BAER | BRIDGER AEROSPACE GRP HLDGS | $25,067 | 0.00% | 13,698 | Common | SOLE |
| 40417F109 | HFFG | HF FOODS GROUP INC | $24,310 | 0.00% | 11,307 | Common | SOLE |
| 816307300 | SLQT | SELECTQUOTE INC | $23,567 | 0.00% | 16,714 | Common | SOLE |
| 405217100 | HAIN | HAIN CELESTIAL GROUP INC | $23,362 | 0.00% | 21,834 | Common | SOLE |
| 74291D104 | PROK | PROKIDNEY CORP | $22,947 | 0.00% | 10,244 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $22,755 | 0.00% | 13,960 | Common | SOLE |
| 00509G209 | ABOS | ACUMEN PHARMACEUTICALS INC | $22,444 | 0.00% | 10,637 | Common | SOLE |
| 745848101 | LUNG | PULMONX CORP | $22,334 | 0.00% | 10,106 | Common | SOLE |
| 12529R107 | CCCC | C4 THERAPEUTICS INC | $21,912 | 0.00% | 11,472 | Common | SOLE |
| 09174P105 | — | BITCOIN DEPOT INC | $21,417 | 0.00% | 16,602 | Common | SOLE |
| G1144A105 | BTBT | BIT DIGITAL INC | $21,374 | 0.00% | 11,309 | Common | SOLE |
| 29350E203 | LNAI | LUNAI BIOWORKS INC | $21,355 | 0.00% | 24,220 | Common | SOLE |
| 00857U107 | AGL | AGILON HEALTH INC | $21,017 | 0.00% | 30,517 | Common | SOLE |
| 004397105 | ARAY | ACCURAY INC | $20,782 | 0.00% | 25,202 | Common | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $20,759 | 0.00% | 16,607 | Common | SOLE |
| 92922P106 | WTI | W & T OFFSHORE INC | $20,750 | 0.00% | 12,730 | Common | SOLE |
| 81578P106 | SEER | SEER INC | $19,674 | 0.00% | 10,751 | Common | SOLE |
| 862945102 | ASST | STRIVE INC | $19,455 | 0.00% | 26,362 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $19,453 | 0.00% | 16,486 | Common | SOLE |
| 31189P102 | FATE | FATE THERAPEUTICS INC | $19,107 | 0.00% | 19,445 | Common | SOLE |
| 256086109 | DCGO | DOCGO INC | $18,551 | 0.00% | 21,133 | Common | SOLE |
| 76680V108 | REI | RING ENERGY INC | $17,827 | 0.00% | 20,491 | Common | SOLE |
| 00507W206 | ATNM | ACTINIUM PHARMACEUTICALS INC | $17,598 | 0.00% | 12,940 | Common | SOLE |
| 00166B105 | ALXO | ALX ONCOLOGY HLDGS INC | $17,487 | 0.00% | 15,475 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $16,445 | 0.00% | 11,500 | PUT | SOLE |
| G72245114 | PRENW | PRENETICS GLOBAL LTD | $10,185 | 0.00% | 362,456 | Common | SOLE |
| 337655112 | NOTEW | FISCALNOTE HOLDINGS INC | $9,133 | 0.00% | 299,447 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $1,880 | 0.00% | 45,400 | PUT | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.