Masters Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
8POINT3 ENERGY PARTNERS LP	CL A RPT LTDPT	282539105	6,052	325,000	SH		SOLE		325,000	0	0
ALCOA INC	DEP SHS 1/10TH	13817309	15,812	400,000	SH		SOLE		400,000	0	0
ALCOA INC	COM	13817101	23,075	2,069,500	SH	Call	SOLE		2,069,500	0	0
AMERICAN AIRLS GROUP INC	COM	02376R102	40,709	1,019,372	SH		SOLE		1,019,372	0	0
AMERICAN AIRLS GROUP INC	COM	02376R102	39,935	1,000,000	SH	Call	SOLE		1,000,000	0	0
AMERISOURCEBERGEN CORP	COM	03073E105	5,317	50,000	SH	Put	SOLE		50,000	0	0
BANK AMER CORP	COM	60505104	51,077	3,000,975	SH		SOLE		3,000,975	0	0
CISCO SYS INC	COM	17275R102	27,460	1,000,000	SH	Call	SOLE		1,000,000	0	0
CITIGROUP INC	COM NEW	172967424	55,174	998,800	SH	Call	SOLE		998,800	0	0
CITIGROUP INC	COM NEW	172967424	165,720	3,000,000	SH	Call	SOLE		3,000,000	0	0
CITIGROUP INC	COM NEW	172967424	54,853	993,000	SH	Call	SOLE		993,000	0	0
CLIFFS NAT RES INC	COM	18683K101	4,330	1,000,000	SH	Call	SOLE		1,000,000	0	0
COACH INC	COM	189754104	10,539	304,500	SH	Call	SOLE		304,500	0	0
CON-WAY INC	COM	205944101	28,789	750,301	SH		SOLE		750,301	0	0
CON-WAY INC	COM	205944101	19,185	500,000	SH	Put	SOLE		500,000	0	0
CREDIT SUISSE GROUP	SPONSORED ADR	225401108	18,388	666,230	SH		SOLE		666,230	0	0
CREE INC	COM	225447101	10,412	400,000	SH		SOLE		400,000	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	42,995	1,046,612	SH		SOLE		1,046,612	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	41,080	1,000,000	SH	Call	SOLE		1,000,000	0	0
FIRST SOLAR INC	COM	336433107	2,349	50,000	SH		SOLE		50,000	0	0
FIRST SOLAR INC	COM	336433107	23,490	500,000	SH	Call	SOLE		500,000	0	0
FIRST SOLAR INC	COM	336433107	44,974	957,300	SH	Call	SOLE		957,300	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	14,908	993,210	SH		SOLE		993,210	0	0
GENERAL MTRS CO	COM	37045V100	34,380	1,031,500	SH	Call	SOLE		1,031,500	0	0
GENERAL MTRS CO	COM	37045V100	34,380	1,031,500	SH	Call	SOLE		1,031,500	0	0
GREEN DOT CORP	CL A	39304D102	2,390	125,000	SH		SOLE		125,000	0	0
ILLUMINA INC	COM	452327109	43,672	200,000	SH	Put	SOLE		200,000	0	0
INTL PAPER CO	COM	460146103	139,453	2,930,300	SH	Call	SOLE		2,930,300	0	0
ISHARES TR	20+ YR TR BD ETF	464287432	117,460	1,000,000	SH	Put	SOLE		1,000,000	0	0
JUNIPER NETWORKS INC	COM	48203R104	12,894	496,500	SH		SOLE		496,500	0	0
LEXICON PHARMACEUTICALS INC	COM NEW	528872302	9,094	1,129,708	SH		SOLE		1,129,708	0	0
LINKEDIN CORP	COM CL A	53578A108	20,663	100,000	SH	Call	SOLE		100,000	0	0
METLIFE INC	COM	59156R108	3,236	57,800	SH	Call	SOLE		57,800	0	0
METLIFE INC	COM	59156R108	56,819	1,014,800	SH	Call	SOLE		1,014,800	0	0
MITSUBISHI UFJ FINL GROUP IN	SPONSORED ADR	606822104	20,975	2,905,105	SH		SOLE		2,905,105	0	0
MOBILEYE N V AMSTELVEEN	ORD SHS	N51488117	26,585	500,000	SH	Call	SOLE		500,000	0	0
NEOPHOTONICS CORP	COM	64051T100	18,260	2,000,000	SH		SOLE		2,000,000	0	0
NUCOR CORP	COM	670346105	87,854	1,993,500	SH	Call	SOLE		1,993,500	0	0
NVIDIA CORP	COM	67066G104	28,407	1,412,565	SH		SOLE		1,412,565	0	0
NVIDIA CORP	COM	67066G104	20,110	1,000,000	SH	Call	SOLE		1,000,000	0	0
PENNEY J C INC	COM	708160106	8,296	979,405	SH		SOLE		979,405	0	0
PENNEY J C INC	COM	708160106	20,629	2,435,500	SH	Call	SOLE		2,435,500	0	0
PRUDENTIAL FINL INC	COM	744320102	84,982	971,000	SH	Call	SOLE		971,000	0	0
REGIONS FINL CORP NEW	COM	7591EP100	10,287	992,920	SH		SOLE		992,920	0	0
SOLARCITY CORP	COM	83416T100	26,588	496,500	SH	Call	SOLE		496,500	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	205,850	1,000,000	SH	Call	SOLE		1,000,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	205,850	1,000,000	SH	Call	SOLE		1,000,000	0	0
SPROUTS FMRS MKT INC	COM	85208M102	14,863	550,900	SH		SOLE		550,900	0	0
SPROUTS FMRS MKT INC	COM	85208M102	6,745	250,000	SH	Put	SOLE		250,000	0	0
SUNEDISON INC	COM	86732Y109	29,910	1,000,000	SH	Call	SOLE		1,000,000	0	0
SUNPOWER CORP	COM	867652406	3,414	120,163	SH		SOLE		120,163	0	0
SUNPOWER CORP	COM	867652406	14,205	500,000	SH	Call	SOLE		500,000	0	0
TESLA MTRS INC	COM	88160R101	133,996	499,500	SH	Call	SOLE		499,500	0	0
TESLA MTRS INC	COM	88160R101	67,065	250,000	SH	Call	SOLE		250,000	0	0
TESLA MTRS INC	COM	88160R101	126,082	470,000	SH	Call	SOLE		470,000	0	0
TRANSENTERIX INC	COM NEW	89366M201	7,800	2,600,000	SH		SOLE		2,600,000	0	0
TWITTER INC	COM	90184L102	18,110	500,000	SH	Call	SOLE		500,000	0	0
UNITED CONTL HLDGS INC	COM	910047109	18,554	350,000	SH	Call	SOLE		350,000	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	96,910	1,000,000	SH	Call	SOLE		1,000,000	0	0
VIOLIN MEMORY INC	COM	92763A101	2,453	1,001,100	SH		SOLE		1,001,100	0	0
WABASH NATL CORP	COM	929566107	6,270	499,966	SH		SOLE		499,966	0	0
WAL-MART STORES INC	COM	931142103	14,186	200,000	SH		SOLE		200,000	0	0
WAL-MART STORES INC	COM	931142103	52,949	746,500	SH	Call	SOLE		746,500	0	0
WAL-MART STORES INC	COM	931142103	70,930	1,000,000	SH	Call	SOLE		1,000,000	0	0
WAL-MART STORES INC	COM	931142103	70,930	1,000,000	SH	Call	SOLE		1,000,000	0	0
WAL-MART STORES INC	COM	931142103	141,860	2,000,000	SH	Call	SOLE		2,000,000	0	0
WAL-MART STORES INC	COM	931142103	70,930	1,000,000	SH	Call	SOLE		1,000,000	0	0
WAL-MART STORES INC	COM	931142103	71,505	1,008,100	SH	Call	SOLE		1,008,100	0	0
YELP INC	CL A	985817105	10,758	250,000	SH		SOLE		250,000	0	0
YRC WORLDWIDE INC	COM PAR $.01	984249607	17,325	1,334,746	SH		SOLE		1,334,746	0	0