Nine Masts Investments
Nine Masts Capital Expands Holdings with New Stakes in Webster, Qorvo, and PureCycle
Key Points
QRVO attractor: Bank of America Corp DE boosted its QRVO stake by 801.4% in the first quarter to 1,767,373 shares (about $136.8 million), with other major buyers expanding positions including LSV Asset Management (1,555,461 shares, about $131.5 million), M&T Bank (150,173 shares, about $12.7 million), and new or larger stakes from Credit Industriel et Commercial and Fieldview Capital Management.
PureCycle Technologies: Nine Masts Capital’s new stake of 185,000 shares valued at about $1.5 million was part of a broader ownership context in PCT, where hedge funds and other institutional investors control 63.01% of the stock; the company trades in a broad 12-month range of $4.93 to $15.49 and has a market cap around $1.45 billion with a negative trailing P/E of about -4.95 and a beta near 2.57.
Apogee Therapeutics: Nine Masts bought 9,400 shares for about $1.25 million. Separately, CEO Michael Thomas Henderson sold 20,000 shares on July 8 at an average price of $133.63 (total $2,672,600), while retaining 995,987 shares valued at roughly $133.1 million.
Webster Financial: Farther Finance Advisors LLC increased its Webster Financial position by 39.7% in the fourth quarter, now holding 560 shares valued at about $35,000, illustrating continued activity among smaller funds alongside Nine Masts’ new stake.
Nine Masts Capital Ltd made a string of new bets in the second quarter, snapping up shares in Webster Financial, Qorvo, PureCycle Technologies, and Apogee Therapeutics, according to Watchlist News and Ticker Report. The moves show the Hong Kong-based fund spreading money across banking, semiconductors, and specialty materials all at once.
The biggest of the new picks was Qorvo, a chip maker. Nine Masts bought 130,035 shares for roughly $12.13 million, making QRVO its 14th largest holding at 1.2% of the portfolio, per Watchlist News.
Nine Masts Builds a $12 Million Qorvo Position
Nine Masts paid about $12.13 million for 130,035 Qorvo shares in Q2, per Watchlist News. That made QRVO the fund's 14th biggest holding, worth roughly 1.2% of its total portfolio. Qorvo makes radio-frequency chips used in smartphones and other devices.
Nine Masts was not the only fund loading up on QRVO. Bank of America Corp DE raised its Qorvo stake by 801.4% in the first quarter, lifting its position to 1,767,373 shares worth about $136.8 million. LSV Asset Management also held 1,555,461 shares, valued at roughly $131.5 million, according to Watchlist News.
Webster Financial and PureCycle Round Out New Stakes
Nine Masts also bought 111,060 shares of Webster Financial for about $8.49 million, per Ticker Report. That made WBS its 16th largest holding, at around 0.9% of the fund. Smaller funds are also active in the stock — Farther Finance Advisors LLC raised its Webster stake by 39.7% in the fourth quarter, though it holds just 560 shares worth about $35,000.
On the materials side, Nine Masts started a fresh position in PureCycle Technologies, buying 185,000 shares for around $1.5 million, according to Ticker Report. PureCycle trades between $4.93 and $15.49 over the past year and carries a market cap near $1.45 billion. Institutional investors as a group own 63.01% of the stock. The company has a negative trailing price-to-earnings ratio of about -4.95, meaning it is not yet profitable.
Apogee Therapeutics Buy Comes as CEO Sells Shares
Nine Masts added 9,400 shares of Apogee Therapeutics for roughly $1.25 million, according to Ticker Report. Apogee is a clinical-stage biotech company. The buy came right as insider activity moved in the opposite direction.
CEO Michael Thomas Henderson sold 20,000 Apogee shares on July 8 at an average price of $133.63, pulling in $2,672,600 in total. Even after the sale, Henderson held 995,987 shares worth roughly $133.1 million. Insider sales do not always signal bad news — executives often sell for personal financial reasons — but the timing is notable alongside the fund's new entry into the stock.
A Broader Push Into Diversified U.S. Equities
Nine Masts did not stop at these four names. The fund also put $20.26 million into Kenvue in Q2, making it the 7th biggest position in the portfolio, per Ticker Report. It also picked up 14,266 shares of LiveRamp Holdings for about $537,000 and made a $2.14 million bet on Nasdaq Inc., buying 27,130 shares.
Taken together, the Q2 disclosures paint a picture of a fund actively expanding across many corners of the U.S. market. From bank stocks and chip makers to recycling tech and biotech, Nine Masts is casting a wide net heading into the second half of 2025.
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