NINE MASTS CAPITAL 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

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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
21VIANET GROUP INC	SPONSORED ADR	90138A103	4,917	239,600	SH		SOLE		239,600	0	0
ADVANCED SEMICONDUCTOR ENGR	SPONSORED ADR	00756M404	3,241	478,775	SH		SOLE		478,775	0	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	10,284	125,000	SH		SOLE		125,000	0	0
BAIDU INC	SPON ADR REP A	056752108	7	51,000	SH	Call	SOLE		51,000	0	0
BAIDU INC	SPON ADR REP A	056752108	4	51,000	SH	Put	SOLE		51,000	0	0
BHP BILLITON LTD	SPONSORED ADR	088606108	2,604	62,386	SH		SOLE		62,386	0	0
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	666	83,400	SH		SOLE		83,400	0	0
BONA FILM GROUP LTD	SPONSORED ADS	09777B107	4,471	366,476	SH		SOLE		366,476	0	0
CENTER COAST MLP & INFRSTR F	COM SHS	151461100	99	6,500	SH		SOLE		6,500	0	0
CHEVRON CORP NEW	COM	166764100	0	50,000	SH	Call	SOLE		50,000	0	0
CHEVRON CORP NEW	COM	166764100	3	50,000	SH	Put	SOLE		50,000	0	0
CHEVRON CORP NEW	COM	166764100	3,068	31,800	SH		SOLE		31,800	0	0
CHINA LIFE INS CO LTD	SPON ADR REP H	16939P106	906	41,600	SH		SOLE		41,600	0	0
CHINA MOBILE GAMES & ENTMT G	SPONSORED ADR	16952T100	9,943	470,354	SH		SOLE		470,354	0	0
CHINA PETE & CHEM CORP	SPON ADR H SHS	16941R108	1,469	17,020	SH		SOLE		17,020	0	0
CITIGROUP INC	COM NEW	172967424	5	150,000	SH	Call	SOLE		150,000	0	0
CITIGROUP INC	COM NEW	172967424	1	150,000	SH	Put	SOLE		150,000	0	0
CLEARBRIDGE AMERN ENERG MLP	COM	184691103	155	11,200	SH		SOLE		11,200	0	0
CLEARBRIDGE ENERGY MLP FD IN	COM	184692101	296	12,713	SH		SOLE		12,713	0	0
CLEARBRIDGE ENERGY MLP OPP F	COM	18469P100	620	33,100	SH		SOLE		33,100	0	0
CLEARBRIDGE ENERGY MLP TR FD	COM	18469Q108	649	35,500	SH		SOLE		35,500	0	0
COHEN & STEERS MLP INC & ENR	COM SHS	19249B106	124	7,270	SH		SOLE		7,270	0	0
COHEN & STEERS QUALITY RLTY	COM	19247L106	1,875	175,399	SH		SOLE		175,399	0	0
DR REDDYS LABS LTD	ADR	256135203	446	7,995	SH		SOLE		7,995	0	0
E HOUSE CHINA HLDGS LTD	ADR	26852W103	3,611	537,351	SH		SOLE		537,351	0	0
EATON VANCE ENH EQTY INC FD	COM	278277108	828	59,600	SH		SOLE		59,600	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	100	7,600	SH		SOLE		7,600	0	0
EATON VANCE TAX ADVT DIV INC	COM	27828G107	907	45,799	SH		SOLE		45,799	0	0
FIRST TR MLP & ENERGY INCOME	COM	33739B104	582	31,564	SH		SOLE		31,564	0	0
GABELLI EQUITY TR INC	COM	362397101	526	84,000	SH		SOLE		84,000	0	0
GOLDMAN SACHS MLP INC OPP FD	COM SHS	38147W103	172	11,500	SH		SOLE		11,500	0	0
HALLIBURTON CO	COM	406216101	0	20,000	SH	Put	SOLE		20,000	0	0
HALLIBURTON CO	COM	406216101	1	62,500	SH	Call	SOLE		62,500	0	0
HANCOCK JOHN PREMUIM DIV FD	COM SH BEN INT	41013T105	291	22,200	SH		SOLE		22,200	0	0
HANCOCK JOHN TAX-ADV DIV INC	COM	41013V100	729	37,100	SH		SOLE		37,100	0	0
HOME DEPOT INC	COM	437076102	1,456	13,100	SH		SOLE		13,100	0	0
HOME DEPOT INC	COM	437076102	0	50,000	SH	Call	SOLE		50,000	0	0
HOME DEPOT INC	COM	437076102	1	50,000	SH	Put	SOLE		50,000	0	0
HONDA MOTOR LTD	AMERN SHS	438128308	1,833	56,600	SH		SOLE		56,600	0	0
HSBC HLDGS PLC	SPON ADR NEW	404280406	32,143	710,366	SH		SOLE		710,366	0	0
ICICI BK LTD	ADR	45104G104	2,221	213,149	SH		SOLE		213,149	0	0
IDREAMSKY TECHNOLOGY LIMITED	SPONSORED ADS	45173K101	3,997	319,000	SH		SOLE		319,000	0	0
INTEGRATED SILICON SOLUTION	COM	45812P107	12,861	580,913	SH		SOLE		580,913	0	0
INTEL CORP	COM	458140100	1	250,000	SH	Call	SOLE		250,000	0	0
INTEL CORP	COM	458140100	3	250,000	SH	Put	SOLE		250,000	0	0
INTEL CORP	COM	458140100	4,100	134,805	SH		SOLE		134,805	0	0
ISHARES	MSCI BRZ CAP ETF	464286400	2	150,000	SH	Call	SOLE		150,000	0	0
ISHARES	MSCI BRZ CAP ETF	464286400	2	150,000	SH	Put	SOLE		150,000	0	0
ISHARES TR	CHINA LG-CAP ETF	464287184	0	200,000	SH	Call	SOLE		200,000	0	0
ISHARES TR	CHINA LG-CAP ETF	464287184	19	1,772,500	SH	Put	SOLE		1,772,500	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	5,535	44,327	SH		SOLE		44,327	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	2	431,600	SH	Call	SOLE		431,600	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	18	821,400	SH	Put	SOLE		821,400	0	0
JA SOLAR HOLDINGS CO LTD	SPON ADR REP5ORD	466090206	1,970	230,356	SH		SOLE		230,356	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	309	53,711	SH		SOLE		53,711	0	0
MINDRAY MEDICAL INTL LTD	SPON ADR	602675100	653	22,900	SH		SOLE		22,900	0	0
MITSUBISHI UFJ FINL GROUP IN	SPONSORED ADR	606822104	219	30,391	SH		SOLE		30,391	0	0
MOMO INC	ADR	60879B107	3,886	241,361	SH		SOLE		241,361	0	0
NIPPON TELEG & TEL CORP	SPONSORED ADR	654624105	1,798	49,600	SH		SOLE		49,600	0	0
NOMURA HLDGS INC	SPONSORED ADR	65535H208	1,240	182,666	SH		SOLE		182,666	0	0
NUVEEN ENERGY MLP TOTL RTRNF	COM	67074U103	496	30,102	SH		SOLE		30,102	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	6	500	SH		SOLE		500	0	0
PERFECT WORLD CO LTD	SPON ADR REP B	71372U104	8,207	414,088	SH		SOLE		414,088	0	0
PETROCHINA CO LTD	SPONSORED ADR	71646E100	25	220	SH		SOLE		220	0	0
PETROLEO BRASILEIRO SA PETRO	SP ADR NON VTG	71654V101	4,423	542,000	SH		SOLE		542,000	0	0
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	1	450,000	SH	Call	SOLE		450,000	0	0
QIHOO 360 TECHNOLOGY CO LTD	ADS	74734M109	10,168	150,218	SH		SOLE		150,218	0	0
QIHOO 360 TECHNOLOGY CO LTD	NOTE 2.500% 9/1	74734MAB5	16,191	16,500	PRN		SOLE		16,500	0	0
RENREN INC	SPONSORED ADR	759892102	2,993	789,709	SH		SOLE		789,709	0	0
RESMED INC	COM	761152107	531	9,420	SH		SOLE		9,420	0	0
ROYCE VALUE TR INC	COM	780910105	223	16,203	SH		SOLE		16,203	0	0
RYANAIR HLDGS PLC	SPONSORED ADR	783513104	5,080	71,200	SH		SOLE		71,200	0	0
SCHLUMBERGER LTD	COM	806857108	574	6,656	SH		SOLE		6,656	0	0
SCHLUMBERGER LTD	COM	806857108	1	75,000	SH	Call	SOLE		75,000	0	0
SCHLUMBERGER LTD	COM	806857108	2	75,000	SH	Put	SOLE		75,000	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	0	24,600	SH	Call	SOLE		24,600	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	0	4,500	SH	Put	SOLE		4,500	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	64	850	SH		SOLE		850	0	0
SHANDA GAMES LTD	SP ADR REPTG A	81941U105	5,369	780,426	SH		SOLE		780,426	0	0
SONY CORP	ADR NEW	835699307	7,605	268,706	SH		SOLE		268,706	0	0
SOUFUN HLDGS LTD	ADR	836034108	607	72,200	SH		SOLE		72,200	0	0
SOUFUN HLDGS LTD	NOTE 2.000%12/1	836034AB4	35,627	37,800	PRN		SOLE		37,800	0	0
SUMITOMO MITSUI FINL GROUP I	SPONSORED ADR	86562M209	7,005	784,776	SH		SOLE		784,776	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADR	874039100	45,253	1,988,729	SH		SOLE		1,988,729	0	0
TATA MTRS LTD	SPONSORED ADR	876568502	16,155	468,680	SH		SOLE		468,680	0	0
UNITED MICROELECTRONICS CORP	SPON ADR NEW	910873405	2,366	1,119,395	SH		SOLE		1,119,395	0	0
VEDANTA LTD	SPONSORED ADR	92242Y100	2,506	232,000	SH		SOLE		232,000	0	0
WUXI PHARMATECH CAYMAN INC	SPONS ADR SHS	929352102	5,908	139,800	SH		SOLE		139,800	0	0