MASTERS CAPITAL MANAGEMENT, L.L.C.

Advisory Business

Type of Organization	Limited Liability Company
Fiscal Year End	DECEMBER
Legal Location	Georgia, United States

Employees

Total Number of Employees	17
Investment Advisory/Research	13
Registered Broker-Dealer Representatives	0
Registered State Investment Advisers	0
Licensed Agents of an Insurance Company	0
No. of Firms/People that Solicit Clients	1

RAUM

Provides Management of Securities Portfolios	Yes

Type	Accounts	RAUM
Discretionary	5	$656.2M
Non-Discretionary	0	$0
Total	5	$656.2M

Clients

Type	Number	RAUM
Individuals	0	$0
HNW Individuals	0	$0
Banking or thrift institutions	0	$0
Investment companies	0	$0
Business development companies	0	$0
Pooled investment vehicles	5	$656.2M
Pension and profit sharing plans	0	$0
Charitable organizations	0	$0
State or municipal gov entities	0	$0
Other investment advisers	0	$0
Insurance companies	0	$0
Sovereign wealth funds and foreign official institutions	0	$0
Corporations or other businesses	0	$0
Other	0	$0

Type	Number
No. of Non-RAUM Clients	5
No. of Non-U.S. Clients	40
No. of Financial Planning Clients	0

Services

Advisory Services	Portfolio management for pooled investment vehiclesSelection of other advisers (including private fund managers)
Compensation	% of AUMPerformance-based fees
Other Business Activities	Commodity pool operator or commodity trading advisor

Identifiers

SEC RIA File Number	801-65894
SEC ERA File Number	801-65894
SEC CIK Numbers	1104186
SEC CRD Numbers	137605
Legal Entity Identifier	54930021ZMJS835N2V95

Principal Office

3060 PEACHTREE ROAD, NW
SUITE 1425
ATLANTA
GA
United States

Websites

Chief Compliance Officer

No. Employees, Historic

RAUM, Historic

No. Clients, Historic