MASTERS CAPITAL MANAGEMENT LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Masters Capital Management LLC is an employee owned hedge fund sponsor based out of Atlanta, Georgia. The company was established in 1995 by Michael W. Masters, who is still with the company today acting as its CEO and CIO and who holds the controlling majority of ownership in the company. Masters Capital Management has grown from its inception to now operate with 17 employees of which 14 are investment professionals. The company conducts its research internally and invests in the public equity and fixed income markets on a global scale. The Masters Capital Management focuses on the selection of companies across all stages that utilize nanotechnology. Masters Capital Management invests most heavily in the finance sector, which alone makes up over a third of its total asset allocations, and also invests in the consumer staples, consumer discretionary, transports, materials, and information technology sectors, among others to a lesser degree, in order of decreasing allocation. The company’s top 10 holdings together make up over two third of its total asset allocations and the firm has a high turnover rate of approximately 89.5%. Masters Capital Management currently holds approximately $900 million in total assets under management spread across 6 accounts, all of which are discretionary accounts. Although the company’s total number of accounts has remained relatively unchanged in recent years, its total assets under management has been increasing, growing significantly from $135 million back in 2010 to well over 6 times that amount today. Masters Capital Management mainly caters to pooled investment vehicles, which alone makes up over three quarters of its entire client base, and also provides its services to investment advisors. The company provides security portfolios and the selection of subadvisors for its clients and takes advisory fees in the form of a percentage of assets and various performance based fees.
As of the latest 13F report, the guru’s equity portfolio contained 51 stocks valued at a total of $1.32Bil. The top holdings were DB(2.63%), DAL(2.50%), and CLF(2.45%).
According to GuruFocus data, these were MASTERS CAPITAL MANAGEMENT LLC’s top five trades of the quarter.
Citigroup Inc
The guru established a new position worth 700,000 shares in NYSE:C, giving the stock a 2.41% weight in the equity portfolio. Shares traded for an average price of $45.43 during the quarter.
On 02/18/2023, Citigroup Inc traded for a price of $51.42 per share and a market cap of $99.59Bil. The stock has returned -17.39% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Citigroup Inc has a price-earnings ratio of 7.35, a price-book ratio of 0.55, a price-earnings-to-growth (PEG) ratio of 1.39 and a price-sales ratio of 1.34.
The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 9.
Fluor Corp
The guru sold out of their 1,000,000-share investment in NYSE:FLR. Previously, the stock had a 1.76% weight in the equity portfolio. Shares traded for an average price of $31.93 during the quarter.
On 02/18/2023, Fluor Corp traded for a price of $36.65 per share and a market cap of $5.21Bil. The stock has returned 73.78% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Fluor Corp has a price-book ratio of 3.16, a EV-to-Ebitda ratio of 14.49 and a price-sales ratio of 0.47.
The price-to-GF Value ratio is 2.05, earning the stock a GF Value rank of 1.
Delta Air Lines Inc
During the quarter, MASTERS CAPITAL MANAGEMENT LLC bought 500,000 shares of NYSE:DAL for a total holding of 1,000,000. The trade had a 1.25% impact on the equity portfolio. During the quarter, the stock traded for an average price of $33.14.
On 02/18/2023, Delta Air Lines Inc traded for a price of $38.36 per share and a market cap of $24.60Bil. The stock has returned -11.43% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Delta Air Lines Inc has a price-earnings ratio of 18.80, a price-book ratio of 3.74, a EV-to-Ebitda ratio of 16.52 and a price-sales ratio of 0.48.
The price-to-GF Value ratio is 0.64, earning the stock a GF Value rank of 8.
TechnipFMC PLC
The guru sold out of their 2,000,000-share investment in NYSE:FTI. Previously, the stock had a 1.2% weight in the equity portfolio. Shares traded for an average price of $11.19 during the quarter.
On 02/18/2023, TechnipFMC PLC traded for a price of $14.01 per share and a market cap of $6.25Bil. The stock has returned 109.10% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, TechnipFMC PLC has a price-book ratio of 1.99, a EV-to-Ebitda ratio of 15.35 and a price-sales ratio of 0.97.
The price-to-GF Value ratio is 1.78, earning the stock a GF Value rank of 1.
NOV Inc
MASTERS CAPITAL MANAGEMENT LLC reduced their investment in NYSE:NOV by 1,000,000 shares. The trade had a 1.15% impact on the equity portfolio. During the quarter, the stock traded for an average price of $20.99.
On 02/18/2023, NOV Inc traded for a price of $21.67 per share and a market cap of $8.51Bil. The stock has returned 27.82% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, NOV Inc has a price-earnings ratio of 55.56, a price-book ratio of 1.67, a EV-to-Ebitda ratio of 16.64 and a price-sales ratio of 1.16.
The price-to-GF Value ratio is 1.17, earning the stock a GF Value rank of 1.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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