Massar Capital Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Massar Capital Management, LP reported 157 stock positions worth $279.2 million. Its top holding was United Parcel Service Class B (UPS) at 10.7% of the portfolio, followed by iShares MSCI Brazil ETF (EWZ, 5.9%) and Gitlab Class A (GTLB, 4.6%). Compared with Q2 2025, it opened 92 new positions, sold out of 46, added to 11 and reduced 11. The biggest buy was United Parcel Service Class B (UPS, shares +660%) and the biggest sale Mitsubishi Ufj Finl-Spon ADR (MUFG, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0002037238
- Portfolio Value
- $279.2M (Q3 2025)
- SEC Filing
- 0002037238-25-000006 ↗ filed Nov 14, 2025
Holdings Value
Holdings 157 stocks · $279.2M
| UPS United Parcel Service Class B | 10.71% | 358,000 | $29.9M | Add +659.6% |
| EWZ iShares MSCI Brazil ETF | 5.94% | 535,000 | $16.6M | No change |
| GTLB Gitlab Inc. Class A | 4.55% | 281,830 | $12.7M | New |
| ETH Grayscale Ethereum Staking M | 3.58% | 255,000 | $10.0M | New |
| IBIT iShares Bitcoin Trust ETF | 2.99% | 128,545 | $8.4M | Add +359.1% |
| XYZ Block Inc. | 2.46% | 94,925 | $6.9M | New |
| TPL Texas Pacific Land Corp. | 2.34% | 7,000 | $6.5M | New |
| MSTR Strategy Inc. | 2.07% | 17,977 | $5.8M | New |
| INTC Intel Corp. | 1.80% | 150,000 | $5.0M | Reduce -55.3% |
| SMH Vaneck Semiconductor ETF | 1.71% | 14,614 | $4.8M | New |
| GFS Globalfoundries Inc. | 1.67% | 130,000 | $4.7M | New |
| SMLR Semler Scientific Inc. | 1.61% | 150,000 | $4.5M | New |
| JD Jd.com Inc.-ADR | 1.38% | 110,200 | $3.9M | Add +123.1% |
| NPK National Presto Inds Inc. | 1.31% | 32,500 | $3.6M | Reduce -35.0% |
| SMFG Sumitomo Mitsui-Spons ADR | 1.20% | 200,000 | $3.3M | Reduce -60.0% |
| SG Sweetgreen Inc. Class A | 1.17% | 411,000 | $3.3M | New |
| BABA Alibaba Group Holding-SP ADR | 1.09% | 17,000 | $3.0M | Add +70.3% |
| CMG Chipotle Mexican Grill Inc. | 1.08% | 76,725 | $3.0M | New |
| XBI SS SPDR S&P Biotech ETF | 1.08% | 30,000 | $3.0M | No change |
| URA Global X Uranium ETF | 0.94% | 55,000 | $2.6M | New |
| MFG Mizuho Financial Group-ADR | 0.90% | 377,000 | $2.5M | New |
| RBRK Rubrik Inc. Class A | 0.89% | 30,175 | $2.5M | New |
| ECH iShares MSCI Chile ETF | 0.89% | 75,000 | $2.5M | New |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.85% | 148,500 | $2.4M | Reduce -74.9% |
| EC Ecopetrol SA-Sponsored ADR | 0.79% | 240,000 | $2.2M | Add +500.0% |
| WIX Wix.com Ltd. | 0.77% | 12,180 | $2.2M | New |
| FLR Fluor Corp. | 0.77% | 51,185 | $2.2M | Add +78.0% |
| EQT Eqt Corp. | 0.75% | 38,532 | $2.1M | New |
| SOC Sable Offshore Corp. | 0.75% | 120,000 | $2.1M | New |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.74% | 53,570 | $2.1M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.74% | 25,360 | $2.1M | New |
| GOOGL Alphabet Inc. Class A | 0.70% | 8,000 | $1.9M | No change |
| VFC VF Corp. | 0.70% | 134,550 | $1.9M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.69% | 16,890 | $1.9M | New |
| TACO Berto Acquisition Corp. | 0.67% | 180,000 | $1.9M | No change |
| XGN Exagen Inc. | 0.67% | 170,000 | $1.9M | No change |
| ALB Albemarle Corp. | 0.66% | 22,782 | $1.8M | New |
| EVLV Evolv Technologies Holdings | 0.66% | 242,500 | $1.8M | New |
| LULU Lululemon Athletica Inc. | 0.64% | 10,100 | $1.8M | New |
| AIRS Airsculpt Technologies Inc. | 0.63% | 220,150 | $1.8M | No change |
| KOID Kraneshares Global Humanoid | 0.63% | 55,000 | $1.8M | New |
| XLE SS Energy Select Sector | 0.61% | 19,185 | $1.7M | New |
| CNR Core Natural Resources Inc. | 0.60% | 20,200 | $1.7M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.60% | 2,792 | $1.7M | New |
| UEC Uranium Energy Corp. | 0.60% | 125,391 | $1.7M | New |
| CGNX Cognex Corp. | 0.59% | 36,570 | $1.7M | New |
| CRK Comstock Resources Inc. | 0.59% | 83,066 | $1.6M | New |
| KTOS Kratos Defense & Security | 0.59% | 17,976 | $1.6M | New |
| RTAC Renatus Tactical Acquisiti-A | 0.59% | 150,000 | $1.6M | No change |
| NET Cloudflare Inc. Class A | 0.58% | 7,514 | $1.6M | New |
| STNE Stoneco Ltd. Class A | 0.58% | 85,000 | $1.6M | Reduce -32.0% |
| HON Honeywell International Inc. | 0.57% | 7,500 | $1.6M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.56% | 5,639 | $1.6M | New |
| XYL Xylem Inc. | 0.56% | 10,524 | $1.6M | New |
| MELI MercadoLibre Inc. | 0.55% | 653 | $1.5M | New |
| LDOS Leidos Holdings Inc. | 0.54% | 8,014 | $1.5M | New |
| TRIP Tripadvisor Inc. | 0.52% | 90,000 | $1.5M | New |
| QXO Qxo Inc. | 0.52% | 76,700 | $1.5M | New |
| MCGAU Yorkville Acquisition Corp. | 0.51% | 130,000 | $1.4M | Add +30.0% |
| STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC | 0.50% | 400,000 | $1.4M | No change |
| CLPT Clearpoint Neuro Inc. | 0.50% | 64,000 | $1.4M | Reduce -8.6% |
| BXSL Blackstone Secured Lending F | 0.50% | 53,323 | $1.4M | New |
| CIB Grupo Cibest SA-ADR | 0.48% | 26,000 | $1.4M | No change |
| OBDC Blue Owl Capital Corp. | 0.48% | 104,506 | $1.3M | New |
| COLO Global X MSCI Colombia ETF | 0.47% | 40,000 | $1.3M | No change |
| NE Noble Corp. PLC | 0.46% | 45,000 | $1.3M | No change |
| CNC Centene Corp. | 0.45% | 35,300 | $1.3M | New |
| TKNO Alpha Teknova Inc. | 0.44% | 200,000 | $1.2M | No change |
| RRX Regal Rexnord Corp. | 0.44% | 8,500 | $1.2M | New |
| QURE Uniqure NV | 0.42% | 20,000 | $1.2M | Reduce -50.0% |
| CCIX Churchill Capital Corp. Ix | 0.41% | 110,000 | $1.2M | Reduce -37.1% |
| MOH Molina Healthcare Inc. | 0.41% | 6,000 | $1.1M | New |
| VRT Vertiv Holdings Co. Class A | 0.40% | 7,400 | $1.1M | New |
| REMX Vaneck Rar Earth ND STG-Usdi | 0.39% | 16,712 | $1.1M | New |
| DNN Denison Mines Corp. | 0.39% | 399,833 | $1.1M | New |
| GEN Gen Digital Inc. | 0.38% | 37,819 | $1.1M | New |
| SMCI Super Micro Computer Inc. | 0.38% | 22,250 | $1.1M | New |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.38% | 65,000 | $1.1M | Reduce -35.0% |
| SCCO Southern Copper Corp. | 0.38% | 8,670 | $1.1M | Add +1.0% |
| FFIV F5 Inc. | 0.37% | 3,204 | $1.0M | New |
| PALL Abrdn Physical Palladium SHS | 0.37% | 9,000 | $1.0M | No change |
| RIVN Rivian Automotive Inc. Class A | 0.37% | 70,000 | $1.0M | No change |
| MBLY Mobileye Global Inc. Class A | 0.36% | 72,000 | $1.0M | New |
| MAA Mid-America Apartment Comm | 0.36% | 7,200 | $1.0M | New |
| SBXDF Silverbox Corp. IV-A | 0.35% | 94,600 | $990K | Add +35.1% |
| NOW ServiceNow Inc. | 0.35% | 1,070 | $985K | New |
| ASAN Asana Inc. Class A | 0.35% | 73,300 | $979K | New |
| MWA Mueller Water Products Inc. Class A | 0.35% | 38,114 | $973K | New |
| ARCC Ares Capital Corp. | 0.34% | 46,319 | $945K | New |
| GDXJ Vaneck Junior Gold Miners | 0.34% | 9,500 | $941K | New |
| XPEV Xpeng Inc. - ADR | 0.32% | 38,300 | $897K | No change |
| KMI Kinder Morgan Inc. | 0.30% | 30,000 | $849K | No change |
| SU Suncor Energy Inc. | 0.30% | 20,000 | $836K | No change |
| RTACU Renatus Tactical Acquisition | 0.30% | 73,000 | $835K | No change |
| BEAG Bold Eagle Acquisition Cor-A | 0.30% | 80,000 | $832K | No change |
| GGAL Grupo Financiero Galicia-ADR | 0.30% | 30,000 | $827K | New |
| LNG Cheniere Energy Inc. | 0.29% | 3,500 | $822K | No change |
| BLND Blend Labs Inc. Class A | 0.29% | 220,000 | $803K | New |
| AMTM Amentum Holdings Inc. | 0.28% | 33,183 | $795K | New |
| LEN Lennar Corp. Class A | 0.27% | 6,000 | $756K | No change |
Options reported separately and not counted above: QQQ puts ($66.0M), MARA calls ($40.3M), MARA puts ($40.3M), COIN puts ($38.5M), COIN calls ($38.5M), CORZ calls ($35.3M), CORZ puts ($35.3M), MSTR calls ($33.7M), MSTR puts ($33.7M), XYZ puts ($33.0M), XYZ calls ($33.0M), IWM puts ($15.7M), and 5 more.
Portfolio Sells Q2 2025 → Q3 2025
| MUFG Mitsubishi Ufj Finl-Spon ADR | Reduce -74.9% | 0.85% | −5.25 |
| SMFG Sumitomo Mitsui-Spons ADR | Reduce -60.0% | 1.20% | −4.47 |
| INTC Intel Corp. | Reduce -55.3% | 1.80% | −3.83 |
| NPK National Presto Inds Inc. | Reduce -35.0% | 1.31% | −2.37 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −2.35 |
| MAGS Roundhill Magnificent Seven | Sold out | 0.00% | −2.33 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −1.78 |
| CCIR Cohen Circle Acquisitio Class A | Sold out | 0.00% | −1.65 |
| RDW Redwire Corp. | Sold out | 0.00% | −1.46 |
| MOS The Mosaic Co. | Sold out | 0.00% | −1.45 |
| CCIX Churchill Capital Corp. Ix | Reduce -37.1% | 0.41% | −1.21 |
| VISN Vistance Networks Inc. | Reduce -83.0% | 0.19% | −1.03 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.93 |
| STNE Stoneco Ltd. Class A | Reduce -32.0% | 0.58% | −0.93 |
| GSRT GSR III Acquisition Corp. | Sold out | 0.00% | −0.89 |
| BA The Boeing Co. | Sold out | 0.00% | −0.79 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.77 |
| BLBD Blue Bird Corp. | Sold out | 0.00% | −0.74 |
| PAAS Pan American Silver Corp. | Sold out | 0.00% | −0.74 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.70 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.62 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Sold out | 0.00% | −0.54 |
| TEM Tempus AI Inc. Class A | Sold out | 0.00% | −0.52 |
| IONQ Ionq Inc. | Sold out | 0.00% | −0.45 |
| IMSR Terrestrial Energy Inc. | Reduce -35.0% | 0.38% | −0.45 |
| ACHR Archer Aviation Inc. Class A | Sold out | 0.00% | −0.41 |
| RDNT Radnet Inc. | Sold out | 0.00% | −0.38 |
| CEPO Cantor Equity Partners I-A | Reduce -1.0% | 0.27% | −0.38 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.37 |
| TALK Talkspace Inc. | Sold out | 0.00% | −0.31 |
| OM Outset Medical Inc. | Sold out | 0.00% | −0.29 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.28 |
| AGX Argan Inc. | Sold out | 0.00% | −0.26 |
| CLS Celestica Inc. | Sold out | 0.00% | −0.25 |
| OUST Ouster Inc. | Sold out | 0.00% | −0.23 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.22 |
| OPRX Optimizerx Corp. | Sold out | 0.00% | −0.22 |
| CVNA Carvana Co. | Sold out | 0.00% | −0.21 |
| ANGO Angiodynamics Inc. | Sold out | 0.00% | −0.21 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.20 |
| MGNI Magnite Inc. | Sold out | 0.00% | −0.20 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.20 |
| TWLO Twilio Inc. Class A | Sold out | 0.00% | −0.20 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.18 |
| ECG Everus Construction Group | Sold out | 0.00% | −0.17 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.17 |
| ESOA Energy Services of America | Sold out | 0.00% | −0.16 |
| U Unity Software Inc. | Sold out | 0.00% | −0.16 |
| GWRE Guidewire Software Inc. | Sold out | 0.00% | −0.16 |
| CLPT Clearpoint Neuro Inc. | Reduce -8.6% | 0.50% | −0.13 |
Portfolio Buys Q2 2025 → Q3 2025
| UPS United Parcel Service Class B | Add +659.6% | 10.71% | +7.14 |
| GTLB Gitlab Inc. Class A | New | 4.55% | +4.55 |
| ETH Grayscale Ethereum Staking M | New | 3.58% | +3.58 |
| XYZ Block Inc. | New | 2.46% | +2.46 |
| TPL Texas Pacific Land Corp. | New | 2.34% | +2.34 |
| MSTR Strategy Inc. | New | 2.07% | +2.07 |
| SMH Vaneck Semiconductor ETF | New | 1.71% | +1.71 |
| IBIT iShares Bitcoin Trust ETF | Add +359.1% | 2.99% | +1.71 |
| GFS Globalfoundries Inc. | New | 1.67% | +1.67 |
| SMLR Semler Scientific Inc. | New | 1.61% | +1.61 |
| SG Sweetgreen Inc. Class A | New | 1.17% | +1.17 |
| CMG Chipotle Mexican Grill Inc. | New | 1.08% | +1.08 |
| URA Global X Uranium ETF | New | 0.94% | +0.94 |
| MFG Mizuho Financial Group-ADR | New | 0.90% | +0.90 |
| RBRK Rubrik Inc. Class A | New | 0.89% | +0.89 |
| ECH iShares MSCI Chile ETF | New | 0.89% | +0.89 |
| WIX Wix.com Ltd. | New | 0.77% | +0.77 |
| EQT Eqt Corp. | New | 0.75% | +0.75 |
| SOC Sable Offshore Corp. | New | 0.75% | +0.75 |
| GDS GDS Holdings Ltd. - ADR | New | 0.74% | +0.74 |
| KSPI JSC Kaspi.kz ADR | New | 0.74% | +0.74 |
| VFC VF Corp. | New | 0.70% | +0.70 |
| DIS The Walt Disney Co. | New | 0.69% | +0.69 |
| ALB Albemarle Corp. | New | 0.66% | +0.66 |
| EVLV Evolv Technologies Holdings | New | 0.66% | +0.66 |
| LULU Lululemon Athletica Inc. | New | 0.64% | +0.64 |
| KOID Kraneshares Global Humanoid | New | 0.63% | +0.63 |
| XLE SS Energy Select Sector | New | 0.61% | +0.61 |
| CNR Core Natural Resources Inc. | New | 0.60% | +0.60 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.60% | +0.60 |
| UEC Uranium Energy Corp. | New | 0.60% | +0.60 |
| CGNX Cognex Corp. | New | 0.59% | +0.59 |
| CRK Comstock Resources Inc. | New | 0.59% | +0.59 |
| KTOS Kratos Defense & Security | New | 0.59% | +0.59 |
| NET Cloudflare Inc. Class A | New | 0.58% | +0.58 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.56% | +0.56 |
| XYL Xylem Inc. | New | 0.56% | +0.56 |
| MELI MercadoLibre Inc. | New | 0.55% | +0.55 |
| LDOS Leidos Holdings Inc. | New | 0.54% | +0.54 |
| EC Ecopetrol SA-Sponsored ADR | Add +500.0% | 0.79% | +0.53 |
| TRIP Tripadvisor Inc. | New | 0.52% | +0.52 |
| QXO Qxo Inc. | New | 0.52% | +0.52 |
| BXSL Blackstone Secured Lending F | New | 0.50% | +0.50 |
| OBDC Blue Owl Capital Corp. | New | 0.48% | +0.48 |
| CNC Centene Corp. | New | 0.45% | +0.45 |
| RRX Regal Rexnord Corp. | New | 0.44% | +0.44 |
| MOH Molina Healthcare Inc. | New | 0.41% | +0.41 |
| VRT Vertiv Holdings Co. Class A | New | 0.40% | +0.40 |
| REMX Vaneck Rar Earth ND STG-Usdi | New | 0.39% | +0.39 |
| DNN Denison Mines Corp. | New | 0.39% | +0.39 |
Options Activity Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 110,000 | $66.0M |
| MARA Mara Holdings Inc. | call | New | 2,208,900 | $40.3M |
| MARA Mara Holdings Inc. | put | New | 2,208,900 | $40.3M |
| COIN Coinbase Global Inc. Class A | put | New | 114,200 | $38.5M |
| COIN Coinbase Global Inc. Class A | call | New | 114,200 | $38.5M |
| CORZ Core Scientific Inc. | call | New | 1,965,600 | $35.3M |
| CORZ Core Scientific Inc. | put | New | 1,965,600 | $35.3M |
| MSTR Strategy Inc. | call | New | 104,500 | $33.7M |
| MSTR Strategy Inc. | put | New | 104,500 | $33.7M |
| XYZ Block Inc. | put | New | 456,500 | $33.0M |
| XYZ Block Inc. | call | New | 456,500 | $33.0M |
| IWM iShares Russell 2000 ETF | put | New | 65,000 | $15.7M |
| TSLA Tesla Inc. | put | New | 30,000 | $13.3M |
| IBIT iShares Bitcoin Trust ETF | put | New | 100,000 | $6.5M |
| IBIT iShares Bitcoin Trust ETF | call | New | 100,000 | $6.5M |
| NVDA Nvidia Corp. | put | New | 30,000 | $5.6M |
| TSLA Tesla Inc. | call | New | 12,500 | $5.6M |
| NVDA Nvidia Corp. | call | Sold out | 3,600 | $569Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 246 | $291.4M | EWZ, IGV, MELI, VIAV, ONTO |
| Q1 2026 | 230 | $501.0M | JD, QQQ, KWEB, MELI, PYPL |
| Q4 2025 | 292 | $508.2M | BABA, ORCL, XYZ, EWZ, COIN |
| Q3 2025 | 157 | $279.2M | UPS, EWZ, GTLB, ETH, IBIT |
| Q2 2025Amended | 111 | $133.3M | EWZ, MUFG, SMFG, INTC, NPK |
| Q1 2025 | 111 | $83.4M | EWZ, EWW, MAGS, INTC, CCIR |
| Q4 2024 | 47 | $87.9M | MRNA, ILMN, TKO, UTHR, USFD |