13F-HR 1 t13f-0609.txt FORM 13F - HOLDINGS REPORT Data Field Information: TYPE 13F-HR PERIOD 06/30/09 FILER CIK 0001104186 CCC mezun#8z SUBMISSION-CONTACT NAME Michelle Dobbins PHONE 404-760-3427 UNITED STATES SECRITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2009 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Masters Capital Mgmt, LLC Address: 3060 Peachtree Road NW, Ste 1815 Atlanta, GA 30305 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this submission. Person Signing this Report on Behalf of Reporting Manager: Name: Mike Masters Title: Managing Member Phone: 404-364-2019 Signature, Place, and Date of Signing: Mike Masters Atlanta, GA August 14, 2009 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 47 Form 13F Information Table Value Total: 383,929 FORM 13F INFORMATION TABLE TITLE OF VALUE SHARES/ SH/ PUT/ INVSTMT VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN SOLE SHARED NONE ABITIBIBOWATER INC COM 003687100 256 2,000,000 SH SOLE 2,000,000 0 0 ALLSTATE CORP COM 020002101 24,400 1,000,000 SH CALL SOLE 1,000,000 0 0 ALLSTATE CORP COM 020002101 12,200 500,000 SH CALL SOLE 500,000 0 0 ALLSTATE CORP COM 020002101 12,200 500,000 SH CALL SOLE 500,000 0 0 ALLSTATE CORP COM 020002101 12,200 500,000 SH CALL SOLE 500,000 0 0 BANK OF AMERICA CORPORATION COM 060505104 13,200 1,000,000 SH SOLE 1,000,000 0 0 BANK OF AMERICA CORPORATION COM 060505104 39,600 3,000,000 SH CALL SOLE 3,000,000 0 0 CENTEX CORP COM 152312104 5,076 600,000 SH SOLE 600,000 0 0 CENTEX CORP COM 152312104 8,460 1,000,000 SH CALL SOLE 1,000,000 0 0 CENTEX CORP COM 152312104 8,460 1,000,000 SH CALL SOLE 1,000,000 0 0 CITIGROUP INC COM 172967101 2,970 1,000,000 SH CALL SOLE 1,000,000 0 0 CITIGROUP INC COM 172967101 2,970 1,000,000 SH CALL SOLE 1,000,000 0 0 DELTA AIR LINES INC DEL COM NEW 247361702 8,685 1,500,000 SH SOLE 1,500,000 0 0 EASTMAN KODAK CO COM 277461109 1,480 500,000 SH CALL SOLE 500,000 0 0 FORTRESS INVESTMENT GROUP LL CL A 34958B106 1,710 500,000 SH SOLE 500,000 0 0 GANNETT INC COM 364730101 4,463 1,250,000 SH SOLE 1,250,000 0 0 GANNETT INC COM 364730101 1,785 500,000 SH CALL SOLE 500,000 0 0 GENERAL MTRS CORP DEB SR CV C 33 370442717 2,460 1,000,000 SH SOLE 1,000,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 2,374 200,000 SH SOLE 200,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 5,935 500,000 SH CALL SOLE 500,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 5,935 500,000 SH CALL SOLE 500,000 0 0 INTL PAPER CO COM 460146103 1,513 100,000 SH SOLE 100,000 0 0 INTL PAPER CO COM 460146103 7,565 500,000 SH CALL SOLE 500,000 0 0 JPMORGAN CHASE & CO COM 46625H100 34,110 1,000,000 SH CALL SOLE 1,000,000 0 0 KKR FINANCIAL HLDGS LLC COM 48248A306 3,488 3,750,000 SH SOLE 3,750,000 0 0 LOUISIANA PAC CORP COM 546347105 3,825 1,118,480 SH SOLE 1,118,480 0 0 METLIFE INC COM 59156R108 7,503 250,000 SH SOLE 250,000 0 0 METLIFE INC COM 59156R108 9,003 300,000 SH CALL SOLE 300,000 0 0 METLIFE INC COM 59156R108 1,993 66,400 SH CALL SOLE 66,400 0 0 METLIFE INC COM 59156R108 5,849 194,900 SH CALL SOLE 194,900 0 0 MF GLOBAL LTD SHS G60642108 2,965 500,000 SH SOLE 500,000 0 0 MIRANT CORP NEW *W EXP 01/03/201 60467R118 1,470 1,000,100 SH SOLE 1,000,100 0 0 MIRANT CORP NEW COM 60467R100 7,870 500,000 SH CALL SOLE 500,000 0 0 OCH ZIFF CAP MGMT GROUP CL A 67551U105 11,138 1,250,000 SH SOLE 1,250,000 0 0 RADIAN GROUP INC COM 750236101 1,360 500,000 SH SOLE 500,000 0 0 REDWOOD TR INC COM 758075402 8,856 600,000 SH SOLE 600,000 0 0 SATCON TECHNOLOGY CORP COM 803893106 3,600 2,000,000 SH SOLE 2,000,000 0 0 SCHLUMBERGER LTD COM 806857108 32,466 600,000 SH CALL SOLE 600,000 0 0 SUNTRUST BKS INC COM 867914103 16,450 1,000,000 SH CALL SOLE 1,000,000 0 0 U S AIRWAYS GROUP INC COM 90341W108 7,290 3,000,000 SH SOLE 3,000,000 0 0 U S AIRWAYS GROUP INC COM 90341W108 729 300,000 SH CALL SOLE 300,000 0 0 U S AIRWAYS GROUP INC COM 90341W108 729 300,000 SH CALL SOLE 300,000 0 0 UAL CORP COM NEW 902549807 4,785 1,500,000 SH SOLE 1,500,000 0 0 UAL CORP COM NEW 902549807 1,755 550,000 SH CALL SOLE 550,000 0 0 WELLS FARGO & CO NEW COM 949746101 18,195 750,000 SH CALL SOLE 750,000 0 0 XL CAP LTD CL A G98255105 1,146 100,000 SH SOLE 100,000 0 0 XL CAP LTD CL A G98255105 11,460 1,000,000 SH CALL SOLE 1,000,000 0 0