13F-HR 1 t13f-0310.txt FORM 13F - HOLDINGS REPORT Data Field Information: TYPE 13F-HR PERIOD 03/31/10 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: March 31, 2010 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 May 17, 2010 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: 38 Form 13F Information Table Value Total: 571,060 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 A123 SYS INC COM 03739T108 687 50,000 SH SOLE 50,000 0 0 ADVANCED BATTERY TECHNOLOG I COM 00752H102 3,900 1,000,000 SH SOLE 1,000,000 0 0 BANK OF AMERICA CORPORATION COM 060505104 8,925 500,000 SH SOLE 500,000 0 0 CIENA CORP COM NEW 171779309 7,630 500,000 SH CALL SOLE 500,000 0 0 CREE INC COM 225447101 21,066 300,000 SH CALL SOLE 300,000 0 0 CREE INC COM 225447101 10,533 150,000 SH CALL SOLE 150,000 0 0 DELTA AIR LINES INC DEL COM NEW 247361702 14,590 1,000,000 SH SOLE 1,000,000 0 0 DELTA AIR LINES INC DEL COM NEW 247361702 13,131 900,000 SH CALL SOLE 900,000 0 0 EBAY INC COM 278642103 13,484 500,000 SH CALL SOLE 500,000 0 0 FIRST SOLAR INC COM 336433107 12,265 100,000 SH CALL SOLE 100,000 0 0 GENWORTH FINL INC COM CL A 37247D106 9,170 500,000 SH CALL SOLE 500,000 0 0 HALLIBURTON CO COM 406216101 45,195 1,500,000 SH CALL SOLE 1,500,000 0 0 HALLIBURTON CO COM 406216101 30,130 1,000,000 SH CALL SOLE 1,000,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 14,210 500,000 SH CALL SOLE 500,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 14,210 500,000 SH CALL SOLE 500,000 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 14,210 500,000 SH CALL SOLE 500,000 0 0 INGERSOLL-RAND PLC SHS G47791101 17,435 500,000 SH CALL SOLE 500,000 0 0 KKR FINANCIAL HLDGS LLC COM 48248A306 16,420 2,000,000 SH SOLE 2,000,000 0 0 KKR FINANCIAL HLDGS LLC NOTE 7.500% 1/1 48248AAD0 3,659 3,000,000 SH SOLE 3,000,000 0 0 MARSH & MCLENNAN COS INC COM 571748102 12,210 500,000 SH CALL SOLE 500,000 0 0 MF GLOBAL HLDGS LTD COM 55277J108 7,739 959,000 SH SOLE 959,000 0 0 MIRANT CORP NEW *W EXP 01/03/201 60467R118 53 529,444 SH SOLE 529,444 0 0 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 6,799 1,300,000 SH SOLE 1,300,000 0 0 NATIONAL OILWELL VARCO INC COM 637071101 20,290 500,000 SH CALL SOLE 500,000 0 0 NATIONAL OILWELL VARCO INC COM 637071101 20,290 500,000 SH CALL SOLE 500,000 0 0 NORFOLK SOUTHERN CORP COM 655844108 27,945 500,000 SH CALL SOLE 500,000 0 0 NORFOLK SOUTHERN CORP COM 655844108 27,945 500,000 SH CALL SOLE 500,000 0 0 POPULAR INC COM 733174106 1,455 500,000 SH SOLE 500,000 0 0 SATCON TECHNOLOGY CORP COM 803893106 2,420 1,000,000 SH SOLE 1,000,000 0 0 TRANSOCEAN LTD REG SHS H8817H100 43,190 500,000 SH CALL SOLE 500,000 0 0 U S AIRWAYS GROUP INC COM 90341W108 17,724 2,411,400 SH SOLE 2,411,400 0 0 U S AIRWAYS GROUP INC COM 90341W108 7,610 1,035,400 SH CALL SOLE 1,035,400 0 0 U S AIRWAYS GROUP INC COM 90341W108 7,609 1,035,300 SH CALL SOLE 1,035,300 0 0 UAL CORP COM NEW 902549807 19,553 1,000,000 SH SOLE 1,000,000 0 0 UNION PAC CORP COM 907818108 55,708 760,000 SH CALL SOLE 760,000 0 0 VALERO ENERGY CORP NEW COM 91913Y100 9,850 500,000 SH CALL SOLE 500,000 0 0 VALERO ENERGY CORP NEW COM 91913Y100 5,910 300,000 SH CALL SOLE 300,000 0 0 VALERO ENERGY CORP NEW COM 91913Y100 5,910 300,000 SH CALL SOLE 300,000 0 0