Massar Capital Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Massar Capital Management, LP reported 292 stock positions worth $508.2 million. Its top holding was Alibaba Group Holding-SP ADR (BABA) at 10.3% of the portfolio, followed by Oracle (ORCL, 4.8%) and Block (XYZ, 4.5%). Compared with Q3 2025, it opened 201 new positions, sold out of 66, added to 24 and reduced 15. The biggest buy was Alibaba Group Holding-SP ADR (BABA, shares +1996%) and the biggest sale United Parcel Service Class B (UPS, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0002037238
- Portfolio Value
- $508.2M (Q4 2025)
- SEC Filing
- 0002037238-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 292 stocks · $508.2M
| BABA Alibaba Group Holding-SP ADR | 10.28% | 356,393 | $52.2M | Add +1996.4% |
| ORCL Oracle Corp. | 4.77% | 124,257 | $24.2M | New |
| XYZ Block Inc. | 4.50% | 351,504 | $22.9M | Add +270.3% |
| EWZ iShares MSCI Brazil ETF | 3.34% | 535,000 | $17.0M | No change |
| COIN Coinbase Global Inc. Class A | 3.29% | 74,027 | $16.7M | New |
| MSTR Strategy Inc. | 3.02% | 101,139 | $15.4M | Add +462.6% |
| MARA Mara Holdings Inc. | 2.89% | 1,632,806 | $14.7M | New |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 2.42% | 288,468 | $12.3M | New |
| ETH Grayscale Ethereum Staking M | 1.97% | 356,825 | $10.0M | Add +39.9% |
| MP MP Materials Corp. | 1.40% | 140,800 | $7.1M | New |
| AMZN Amazon.com Inc. | 1.38% | 30,291 | $7.0M | New |
| SMFG Sumitomo Mitsui-Spons ADR | 1.22% | 320,000 | $6.2M | Add +60.0% |
| UPS United Parcel Service Class B | 1.13% | 58,000 | $5.8M | Reduce -83.8% |
| HON Honeywell International Inc. | 1.04% | 27,219 | $5.3M | Add +262.9% |
| KBWB Invesco KBW Bank ETF | 1.01% | 61,062 | $5.1M | New |
| LULU Lululemon Athletica Inc. | 0.97% | 23,697 | $4.9M | Add +134.6% |
| MFG Mizuho Financial Group-ADR | 0.94% | 650,000 | $4.8M | Add +72.4% |
| TPL Texas Pacific Land Corp. | 0.92% | 16,260 | $4.7M | Reduce -22.6% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.87% | 280,000 | $4.4M | Add +88.5% |
| EFA iShares MSCI Eafe ETF | 0.85% | 44,875 | $4.3M | New |
| URA Global X Uranium ETF | 0.82% | 97,500 | $4.2M | Add +77.3% |
| PWR Quanta Services Inc. | 0.77% | 9,305 | $3.9M | New |
| FISV Fiserv Inc. | 0.76% | 57,861 | $3.9M | New |
| NE Noble Corp. PLC | 0.69% | 123,960 | $3.5M | Add +175.5% |
| MELI MercadoLibre Inc. | 0.68% | 1,715 | $3.5M | Add +162.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.65% | 28,847 | $3.3M | Add +70.8% |
| ERO Ero Copper Corp. | 0.64% | 115,734 | $3.3M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.64% | 5,264 | $3.2M | Add +88.5% |
| JD Jd.com Inc.-ADR | 0.62% | 110,200 | $3.2M | No change |
| ECH iShares MSCI Chile ETF | 0.60% | 75,000 | $3.0M | No change |
| NSC Norfolk Southern Corp. | 0.57% | 10,100 | $2.9M | New |
| BHVN Biohaven Ltd. | 0.55% | 247,400 | $2.8M | New |
| UUUU Energy Fuels Inc. | 0.55% | 192,020 | $2.8M | Add +562.1% |
| SG Sweetgreen Inc. Class A | 0.55% | 411,000 | $2.8M | No change |
| ODFL Old Dominion Freight Line | 0.53% | 17,135 | $2.7M | New |
| IBIT iShares Bitcoin Trust ETF | 0.51% | 52,696 | $2.6M | Reduce -59.0% |
| FLNC Fluence Energy Inc. | 0.51% | 131,600 | $2.6M | New |
| INTC Intel Corp. | 0.50% | 68,885 | $2.5M | Reduce -54.1% |
| GOOGL Alphabet Inc. Class A | 0.49% | 8,000 | $2.5M | No change |
| NEE Nextera Energy Inc. | 0.49% | 30,950 | $2.5M | New |
| JMIA Jumia Technologies AG-ADR | 0.49% | 198,495 | $2.5M | New |
| CLPT Clearpoint Neuro Inc. | 0.47% | 176,228 | $2.4M | Add +175.4% |
| IWM iShares Russell 2000 ETF | 0.47% | 9,767 | $2.4M | New |
| GTLB Gitlab Inc. Class A | 0.47% | 63,830 | $2.4M | Reduce -77.3% |
| QXO Qxo Inc. | 0.46% | 120,756 | $2.3M | Add +57.4% |
| RBRK Rubrik Inc. Class A | 0.45% | 30,175 | $2.3M | No change |
| SMLR Semler Scientific Inc. | 0.45% | 150,000 | $2.3M | No change |
| GLW Corning Inc. | 0.45% | 25,942 | $2.3M | New |
| META Meta Platforms Inc. Class A | 0.44% | 3,410 | $2.3M | New |
| ACMR Acm Research Inc. Class A | 0.42% | 54,135 | $2.1M | New |
| SPLV Invesco S&P 500 Low Volatili | 0.42% | 29,853 | $2.1M | New |
| EQT Eqt Corp. | 0.41% | 38,532 | $2.1M | No change |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.39% | 25,360 | $2.0M | No change |
| RTAC Renatus Tactical Acquisiti-A | 0.38% | 181,584 | $1.9M | Add +21.1% |
| KEYS Keysight Technologies Inc. | 0.38% | 9,495 | $1.9M | New |
| BIDU Baidu Inc. - Spon ADR | 0.36% | 14,139 | $1.8M | New |
| TACO Berto Acquisition Corp. | 0.36% | 180,000 | $1.8M | No change |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.36% | 9,359 | $1.8M | New |
| AEXA American Exceptionalism Class A | 0.35% | 157,920 | $1.8M | New |
| TAC Transalta Corp. | 0.35% | 140,738 | $1.8M | New |
| KOID Kraneshares Global Humanoid | 0.34% | 55,000 | $1.8M | No change |
| EVLV Evolv Technologies Holdings | 0.34% | 242,500 | $1.7M | No change |
| UROY Uranium Royalty Corp. | 0.33% | 473,110 | $1.7M | New |
| GLPI Gaming and Leisure Propertie | 0.33% | 37,251 | $1.7M | New |
| CIB Grupo Cibest SA-ADR | 0.33% | 26,000 | $1.7M | No change |
| WBD Warner Bros Discovery Inc. | 0.32% | 57,268 | $1.7M | New |
| MRK Merck & Co. Inc. | 0.32% | 15,434 | $1.6M | New |
| GGAL Grupo Financiero Galicia-ADR | 0.32% | 30,000 | $1.6M | No change |
| HAL Halliburton Co. | 0.31% | 56,316 | $1.6M | New |
| WAT Waters Corp. | 0.31% | 4,175 | $1.6M | New |
| DD Dupont DE Nemours Inc. | 0.31% | 39,381 | $1.6M | New |
| ABBV Abbvie Inc. | 0.31% | 6,904 | $1.6M | New |
| MLI Mueller Industries Inc. | 0.31% | 13,727 | $1.6M | New |
| TSEM Tower Semiconductor Ltd. | 0.31% | 13,334 | $1.6M | New |
| AMGN Amgen Inc. | 0.31% | 4,768 | $1.6M | New |
| EVRG Evergy Inc. | 0.31% | 21,493 | $1.6M | New |
| KO The Coca-Cola Co. | 0.31% | 22,261 | $1.6M | New |
| FFIV F5 Inc. | 0.31% | 6,085 | $1.6M | Add +89.9% |
| CORZ Core Scientific Inc. | 0.30% | 106,476 | $1.6M | New |
| COO The Cooper Cos Inc. | 0.30% | 18,832 | $1.5M | New |
| CSCO Cisco Systems Inc. | 0.30% | 20,010 | $1.5M | New |
| CTSH Cognizant Tech Solutions-A | 0.30% | 18,570 | $1.5M | New |
| EPAM Epam Systems Inc. | 0.30% | 7,374 | $1.5M | New |
| SKYT Skywater Technology Inc. | 0.30% | 82,681 | $1.5M | New |
| COLO Global X MSCI Colombia ETF | 0.28% | 40,000 | $1.4M | No change |
| STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC | 0.28% | 400,000 | $1.4M | No change |
| IJH iShares Core S&P Midcap ETF | 0.28% | 21,540 | $1.4M | New |
| GEO The Geo Group Inc. | 0.27% | 86,645 | $1.4M | Add +188.8% |
| IE Ivanhoe Electric Inc. / US | 0.26% | 84,224 | $1.3M | New |
| NI Nisource Inc. | 0.26% | 32,205 | $1.3M | New |
| MCGAU Yorkville Acquisition Corp. | 0.26% | 130,000 | $1.3M | No change |
| CGNX Cognex Corp. | 0.26% | 36,570 | $1.3M | No change |
| TRIP Tripadvisor Inc. | 0.26% | 90,000 | $1.3M | No change |
| LNT Alliant Energy Corp. | 0.26% | 20,125 | $1.3M | New |
| MAIN Main Street Capital Corp. | 0.25% | 21,364 | $1.3M | New |
| XLC SS Comm Select Sector SPDR | 0.25% | 10,844 | $1.3M | New |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.25% | 39,000 | $1.3M | New |
| PPTA Perpetua Resources Corp. | 0.25% | 52,640 | $1.3M | Add +131.4% |
| LAC Lithium Americas Corp. | 0.25% | 292,183 | $1.3M | New |
| CDZI Cadiz Inc. | 0.25% | 225,612 | $1.3M | New |
Options reported separately and not counted above: QQQ calls ($45.2M), XYZ calls ($29.7M), XYZ puts ($29.7M), TLT calls ($29.4M), TLT puts ($25.3M), GLD puts ($22.6M), CORZ calls ($19.2M), SPY puts ($18.8M), CORZ puts ($17.8M), COIN puts ($16.7M), COIN calls ($16.7M), MARA calls ($16.4M), and 13 more.
Portfolio Sells Q3 2025 → Q4 2025
| UPS United Parcel Service Class B | Reduce -83.8% | 1.13% | −9.58 |
| GTLB Gitlab Inc. Class A | Reduce -77.3% | 0.47% | −4.08 |
| IBIT iShares Bitcoin Trust ETF | Reduce -59.0% | 0.51% | −2.48 |
| SMH Vaneck Semiconductor ETF | Sold out | 0.00% | −1.71 |
| GFS Globalfoundries Inc. | Sold out | 0.00% | −1.67 |
| TPL Texas Pacific Land Corp. | Reduce -22.6% | 0.92% | −1.42 |
| NPK National Presto Inds Inc. | Sold out | 0.00% | −1.31 |
| INTC Intel Corp. | Reduce -54.1% | 0.50% | −1.30 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −1.08 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −1.08 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.77 |
| FLR Fluor Corp. | Sold out | 0.00% | −0.77 |
| EC Ecopetrol SA-Sponsored ADR | Reduce -83.3% | 0.08% | −0.71 |
| VFC VF Corp. | Sold out | 0.00% | −0.70 |
| ALB Albemarle Corp. | Sold out | 0.00% | −0.66 |
| SOC Sable Offshore Corp. | Reduce -55.0% | 0.10% | −0.65 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.61 |
| CNR Core Natural Resources Inc. | Sold out | 0.00% | −0.60 |
| UEC Uranium Energy Corp. | Sold out | 0.00% | −0.60 |
| CRK Comstock Resources Inc. | Sold out | 0.00% | −0.59 |
| KTOS Kratos Defense & Security | Sold out | 0.00% | −0.59 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −0.56 |
| AIRS Airsculpt Technologies Inc. | Reduce -8.1% | 0.08% | −0.55 |
| GDS GDS Holdings Ltd. - ADR | Reduce -45.9% | 0.20% | −0.54 |
| LDOS Leidos Holdings Inc. | Sold out | 0.00% | −0.54 |
| NET Cloudflare Inc. Class A | Reduce -75.6% | 0.07% | −0.51 |
| BXSL Blackstone Secured Lending F | Sold out | 0.00% | −0.50 |
| XYL Xylem Inc. | Reduce -73.5% | 0.07% | −0.48 |
| OBDC Blue Owl Capital Corp. | Sold out | 0.00% | −0.48 |
| CNC Centene Corp. | Sold out | 0.00% | −0.45 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.41 |
| REMX Vaneck Rar Earth ND STG-Usdi | Sold out | 0.00% | −0.39 |
| DNN Denison Mines Corp. | Sold out | 0.00% | −0.39 |
| GEN Gen Digital Inc. | Sold out | 0.00% | −0.38 |
| IMSR Terrestrial Energy Inc. | Sold out | 0.00% | −0.38 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.38 |
| PALL Abrdn Physical Palladium SHS | Sold out | 0.00% | −0.37 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.37 |
| MBLY Mobileye Global Inc. Class A | Sold out | 0.00% | −0.36 |
| MWA Mueller Water Products Inc. Class A | Sold out | 0.00% | −0.35 |
| ARCC Ares Capital Corp. | Sold out | 0.00% | −0.34 |
| GDXJ Vaneck Junior Gold Miners | Sold out | 0.00% | −0.34 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.30 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.28 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.27 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −0.23 |
| CEE Central and Eastern Europe F | Sold out | 0.00% | −0.22 |
| VISN Vistance Networks Inc. | Sold out | 0.00% | −0.19 |
| CENX Century Aluminum Company | Sold out | 0.00% | −0.18 |
| CC The Chemours Co. | Sold out | 0.00% | −0.18 |
Portfolio Buys Q3 2025 → Q4 2025
| BABA Alibaba Group Holding-SP ADR | Add +1996.4% | 10.28% | +9.19 |
| ORCL Oracle Corp. | New | 4.77% | +4.77 |
| COIN Coinbase Global Inc. Class A | New | 3.29% | +3.29 |
| MARA Mara Holdings Inc. | New | 2.89% | +2.89 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 2.42% | +2.42 |
| XYZ Block Inc. | Add +270.3% | 4.50% | +2.04 |
| MP MP Materials Corp. | New | 1.40% | +1.40 |
| AMZN Amazon.com Inc. | New | 1.38% | +1.38 |
| KBWB Invesco KBW Bank ETF | New | 1.01% | +1.01 |
| MSTR Strategy Inc. | Add +462.6% | 3.02% | +0.95 |
| EFA iShares MSCI Eafe ETF | New | 0.85% | +0.85 |
| PWR Quanta Services Inc. | New | 0.77% | +0.77 |
| FISV Fiserv Inc. | New | 0.76% | +0.76 |
| ERO Ero Copper Corp. | New | 0.64% | +0.64 |
| NSC Norfolk Southern Corp. | New | 0.57% | +0.57 |
| BHVN Biohaven Ltd. | New | 0.55% | +0.55 |
| ODFL Old Dominion Freight Line | New | 0.53% | +0.53 |
| FLNC Fluence Energy Inc. | New | 0.51% | +0.51 |
| NEE Nextera Energy Inc. | New | 0.49% | +0.49 |
| JMIA Jumia Technologies AG-ADR | New | 0.49% | +0.49 |
| HON Honeywell International Inc. | Add +262.9% | 1.04% | +0.48 |
| IWM iShares Russell 2000 ETF | New | 0.47% | +0.47 |
| GLW Corning Inc. | New | 0.45% | +0.45 |
| META Meta Platforms Inc. Class A | New | 0.44% | +0.44 |
| ACMR Acm Research Inc. Class A | New | 0.42% | +0.42 |
| SPLV Invesco S&P 500 Low Volatili | New | 0.42% | +0.42 |
| UUUU Energy Fuels Inc. | Add +562.1% | 0.55% | +0.39 |
| KEYS Keysight Technologies Inc. | New | 0.38% | +0.38 |
| BIDU Baidu Inc. - Spon ADR | New | 0.36% | +0.36 |
| JBHT Hunt (jb) Transprt SVCS Inc. | New | 0.36% | +0.36 |
| AEXA American Exceptionalism Class A | New | 0.35% | +0.35 |
| TAC Transalta Corp. | New | 0.35% | +0.35 |
| UROY Uranium Royalty Corp. | New | 0.33% | +0.33 |
| GLPI Gaming and Leisure Propertie | New | 0.33% | +0.33 |
| LULU Lululemon Athletica Inc. | Add +134.6% | 0.97% | +0.33 |
| WBD Warner Bros Discovery Inc. | New | 0.32% | +0.32 |
| MRK Merck & Co. Inc. | New | 0.32% | +0.32 |
| HAL Halliburton Co. | New | 0.31% | +0.31 |
| WAT Waters Corp. | New | 0.31% | +0.31 |
| DD Dupont DE Nemours Inc. | New | 0.31% | +0.31 |
| ABBV Abbvie Inc. | New | 0.31% | +0.31 |
| MLI Mueller Industries Inc. | New | 0.31% | +0.31 |
| TSEM Tower Semiconductor Ltd. | New | 0.31% | +0.31 |
| AMGN Amgen Inc. | New | 0.31% | +0.31 |
| EVRG Evergy Inc. | New | 0.31% | +0.31 |
| KO The Coca-Cola Co. | New | 0.31% | +0.31 |
| CORZ Core Scientific Inc. | New | 0.30% | +0.30 |
| COO The Cooper Cos Inc. | New | 0.30% | +0.30 |
| CSCO Cisco Systems Inc. | New | 0.30% | +0.30 |
| CTSH Cognizant Tech Solutions-A | New | 0.30% | +0.30 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 110,000 | $66.0Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | New | 73,500 | $45.2M |
| TLT iShares 20+ Year Treasury BD | call | New | 337,000 | $29.4M |
| TLT iShares 20+ Year Treasury BD | put | New | 290,000 | $25.3M |
| GLD SPDR Gold Shares | put | New | 57,000 | $22.6M |
| CORZ Core Scientific Inc. | call | Reduce -32.8% | 1,321,600 | $19.2M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 27,500 | $18.8M |
| CORZ Core Scientific Inc. | put | Reduce -37.9% | 1,221,600 | $17.8M |
| COIN Coinbase Global Inc. Class A | put | Reduce -35.3% | 73,900 | $16.7M |
| COIN Coinbase Global Inc. Class A | call | Reduce -35.3% | 73,900 | $16.7M |
| MARA Mara Holdings Inc. | call | Reduce -17.1% | 1,831,100 | $16.4M |
| MARA Mara Holdings Inc. | put | Reduce -17.1% | 1,831,100 | $16.4M |
| IWM iShares Russell 2000 ETF | put | Sold out | 65,000 | $15.7Mbefore exit |
| TSLA Tesla Inc. | put | Sold out | 30,000 | $13.3Mbefore exit |
| XOM Exxon Mobil Corp. | put | New | 109,600 | $13.2M |
| GS Goldman Sachs Group Inc. | put | New | 15,000 | $13.2M |
| JPM JPMorgan Chase & Co. | put | New | 40,800 | $13.1M |
| IBM Intl Business Machines Corp. | put | New | 42,200 | $12.5M |
| AAPL Apple Inc. | put | New | 45,800 | $12.5M |
| WMT Walmart Inc. | put | New | 111,300 | $12.4M |
| GLD SPDR Gold Shares | call | New | 18,500 | $7.3M |
| IBIT iShares Bitcoin Trust ETF | put | Sold out | 100,000 | $6.5Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | call | Sold out | 100,000 | $6.5Mbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 30,000 | $5.6Mbefore exit |
| TSLA Tesla Inc. | call | Reduce -50.4% | 6,200 | $2.6M |
| RKT Rocket Cos Inc. Class A | call | New | 31,800 | $616K |
| SOFI Sofi Technologies Inc. | call | New | 20,000 | $524K |
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 |