Q2 2026 13F · SEC CIK 1569356

NINE MASTS CAPITAL Ltd

Hedge fundFiled 2026-08-07 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $713.8M
Reported positions: 87
Top holdings a year, 3 yrs: +8.3%
Average holding period: 4 qtrs

NINE MASTS CAPITAL Ltd is a hedge fund that reported 87 positions worth $713.8M in its Q2 2026 13F, filed 2026-08-07. Its largest holdings were State Str Spdr S&p 500 ETF T (SPY, 43.5%), Hdfc Bank Ltd (HDB, 14.1%), Warner Bros Discovery Inc (WBD, 4.2%). A portfolio copying its top holdings returned 8.3% a year over the last 3 years, against 20.4% for the S&P 500.

NINE MASTS CAPITAL Ltd holdings largest 50 of 87 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

NINE MASTS CAPITAL Ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPYState Str Spdr S&p 500 ETF T	43.5%	0.5%	415,674	+11322.8%	$310.4M
HDBHdfc Bank Ltd	14.1%	10.5%	3,905,609	+105.5%	$100.9M
WBDWarner Bros Discovery Inc	4.2%	6.5%	1,123,148	+5.5%	$29.9M
FOXFox Corp	4.2%	7.5%	635,475	+0.0%	$29.8M
SLABSilicon Laboratories Inc	2.9%	5.5%	93,749	-21.5%	$20.5M
KVUEKenvue Inc	2.8%	2.4%	1,059,993	+72.4%	$20.3M
EAElectronic Arts Inc	2.8%	4.8%	97,511	-9.0%	$20.0M
NSCNorfolk Southn Corporation	2.3%	5.4%	51,169	-40.0%	$16.1M
BCSBarclays PLC	1.9%	—	493,965	—	$13.3M
QRVOQorvo Inc	1.7%	2.1%	130,035	+4.2%	$12.1M
ROKURoku Inc	1.6%	—	83,000	—	$11.5M
WBSWebster Finl Corp	1.2%	4.5%	111,060	-62.1%	$8.5M
LYGLloyds Banking Group P F	1.1%	—	1,384,610	—	$8.1M
JDJd.com Inc	1.1%	2.1%	314,290	+0.0%	$8.0M
TXNMTxnm Energy Inc	1.1%	1.3%	138,521	+37.9%	$7.9M
PENPenumbra, Inc.	1.0%	1.7%	23,264	-2.0%	$7.3M
ASXAse Technology Hldg Co Ltd	1.0%	3.5%	158,159	-79.6%	$7.1M
GTLSChart Inds Inc	0.9%	—	30,534	—	$6.4M
BLDTopbuild Cor	0.8%	—	14,000	—	$6.0M
BHFBrighthouse Finl Inc	0.6%	0.9%	69,788	-1.4%	$4.4M
KTKt Corp	0.6%	—	228,574	—	$3.9M
UNFUnifirst Corp Mass	0.5%	0.6%	13,070	+17.8%	$3.5M
RNWRenew Energy Global PLC Cl A Shs	0.4%	0.6%	467,642	-25.9%	$2.9M
JHGJanus Henderson Group PLC	0.4%	0.6%	54,254	+0.0%	$2.8M
ZIMZim Integrated Shipping Serv	0.4%	0.5%	103,084	+14.4%	$2.7M
ZZillow Group Inc	0.4%	0.8%	83,638	-1.7%	$2.6M
COPConocophillips	0.3%	—	23,818	—	$2.5M
NIONio Inc	0.3%	0.6%	474,500	+0.0%	$2.4M
DBRGDigitalbridge Group Inc	0.3%	0.3%	147,100	+88.1%	$2.3M
NDAQNasdaq Inc	0.3%	0.2%	27,130	+106.5%	$2.1M
GOOGAlphabet Inc	0.3%	15.2%	8,020	-96.6%	$2.0M
PLTRPalantir Technologies Inc	0.3%	—	17,121	—	$2.0M
NWENorthwestern Energy Group Inc Com New	0.3%	0.4%	27,497	+10.0%	$2.0M
VALValaris Ltd	0.3%	1.3%	26,854	-56.6%	$1.9M
PDDPdd Holdings Inc	0.3%	0.1%	23,724	+260.2%	$1.8M
NEENextera Energy Inc	0.3%	—	20,343	—	$1.8M
PFEPfizer Inc	0.2%	—	68,200	—	$1.6M
PCTPurecycle Technologies Inc	0.2%	—	185,000	—	$1.5M
APGEApogee Therapeutics Inc	0.2%	—	9,400	—	$1.2M
AVNSAvanos Med Inc	0.2%	—	50,000	—	$1.2M
AESAES Corp	0.2%	3.1%	83,825	-91.4%	$1.2M
WTRGEssential Utils Inc Com	0.2%	—	30,000	—	$1.1M
TWOTwo Harbors Investment Corp.	0.2%	—	90,600	—	$1.1M
TLNTalen Energy Corp	0.1%	—	2,500	—	$961K
RYAAYRyanair Holdings PLC Sponsored	0.1%	0.4%	14,463	-48.6%	$936K
CEGConstellation Energy Corp	0.1%	—	3,604	—	$895K
MSFTMicrosoft Corp	0.1%	—	2,054	—	$766K
WDSWoodside Energy Group Ltd	0.1%	0.2%	34,317	+0.0%	$663K
BZHBeazer Homes USA Inc	0.1%	—	21,535	—	$604K
CVXChevron Corporation	0.1%	—	3,558	—	$590K

What NINE MASTS CAPITAL Ltd bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.3% /yr; S&P 500 +20.1%
3 years: +8.3% /yr; S&P 500 +20.4%
5 years: +1.1% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$713.8M	87
Q1 2026	$451.1M	155
Q4 2025	$445.7M	110
Q3 2025	$220.0M	35
Q2 2025	$240.4M	53
Q1 2025	$111.6M	11
Q4 2024	$517.7M	82
Q3 2024	$198.3M	59
Q2 2024	$222.2M	109
Q1 2024	$142.5M	57
Q4 2023	$43.6M	13
Q3 2023	$60.1M	15

Questions about NINE MASTS CAPITAL Ltd's portfolio

What stocks does NINE MASTS CAPITAL Ltd own?

NINE MASTS CAPITAL Ltd's latest 13F, for Q2 2026 and filed Aug 7, 2026, lists 87 positions worth $713.8M. The largest are State Str Spdr S&p 500 ETF T (SPY) at 43.5%, Hdfc Bank Ltd (HDB) at 14.1%, Warner Bros Discovery Inc (WBD) at 4.2%, Fox Corp (FOX) at 4.2% and Silicon Laboratories Inc (SLAB) at 2.9%.

What did NINE MASTS CAPITAL Ltd buy last quarter?

In Q2 2026, NINE MASTS CAPITAL Ltd added State Str Spdr S&p 500 ETF T (SPY) (+11322.8% shares), Pdd Holdings Inc (PDD) (+260.2% shares) and Nasdaq Inc (NDAQ) (+106.5% shares), compared with its Q1 2026 filing.

What did NINE MASTS CAPITAL Ltd sell last quarter?

In Q2 2026, NINE MASTS CAPITAL Ltd cut from its top 50 Invesco Qqq Tr (QQQ), cut from its top 50 Hologic Inc (HOLX), cut from its top 50 Clearwater Analytics Hldgs I (CWAN), cut from its top 50 Apellis Pharmaceuticals Inc (APLS), cut from its top 50 Brookfield Renewable Energy (BEP), Alphabet Inc (GOOG) (-96.6% shares), AES Corp (AES) (-91.4% shares) and Ase Technology Hldg Co Ltd (ASX) (-79.6% shares), compared with its Q1 2026 filing.

How has NINE MASTS CAPITAL Ltd's portfolio performed?

A portfolio copying NINE MASTS CAPITAL Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +8.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.3% against +20.1%. Over 5 years: +1.1% a year against +11.6%.

When is NINE MASTS CAPITAL Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. NINE MASTS CAPITAL Ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.