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NWI MANAGEMENT LP

Q4 2025 · Filed 2026-02-17
Market Value
$1.6B
+62.4%
Holdings
58
+3
New Purchases
8
Added To
7
Closed
13
Reduced
9
Top 10 Concentration
71.7%
Turnover
36.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
QQQ 24.77% 0.00% +24.77% $402M
XLV 3.87% 0.35% +3.52% $63M
TSM 2.86% 0.00% +2.86% $46M
AVGO 1.73% 0.00% +1.73% $28M
MSFT 4.38% 2.96% +1.42% $71M
FLR 1.22% 0.00% +1.22% $20M
ORCL 1.20% 0.00% +1.20% $19M
RSP 0.64% 0.00% +0.64% $10M
AMZN 1.24% 0.69% +0.54% $20M
COGT 0.53% 0.00% +0.53% $9M
SLV 0.50% 0.11% +0.39% $8M
FIGR 1.02% 0.75% +0.27% $17M
ETHA 0.14% 0.00% +0.14% $2M
MU 2.53% 2.43% +0.10% $41M
GGAL 0.33% 0.27% +0.06% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBIT 0.00% 6.50% -6.50% $0
MELI 5.29% 9.98% -4.68% $86M
NU 2.27% 6.40% -4.14% $37M
INSM 10.59% 14.70% -4.11% $172M
NTRA 10.75% 13.36% -2.61% $175M
YPF 0.50% 2.62% -2.12% $8M
ARM 1.39% 3.18% -1.79% $23M
VRNA 0.00% 1.44% -1.44% $0
IFS 2.65% 4.09% -1.44% $43M
PANW 1.25% 2.24% -0.99% $20M
AAPL 1.61% 2.45% -0.84% $26M
NVDA 1.29% 2.09% -0.80% $21M
JPM 1.09% 1.77% -0.68% $18M
DOCU 0.00% 0.62% -0.62% $0
GOOG 2.12% 2.70% -0.58% $35M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 19 $836M 51.4%
Large Cap 24 $680M 41.9%
Mid Cap 12 $108M 6.7%
Small Cap 2 $951K 0.1%
Micro Cap 1 $0 0.0%

Portfolio Analytics

Avg Market Cap
$603.8B
Median Market Cap
$63.7B
Avg P/E
51.4
Median P/E
30.8
Avg Dividend Yield
0.01%
Avg Beta
1.04
# Stocks
45
# ETFs / Funds
13

Top Holdings (58 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 QQQ 24.77% 655,200 $402M $614.31 +655,200 NEW
2 NTRA 10.75% 762,603 $175M $229.09 $41M -67,700 -8.2%
3 INSM 10.59% 988,460 $172M $174.04 $25M -32,540 -3.2%
4 MELI 5.29% 42,700 $86M $2,014.26 -$14M
5 MSFT 4.38% 147,100 $71M $483.62 $42M +90,000 +157.6%
6 TEVA 3.97% 2,065,000 $64M $31.21 $23M
7 XLV 3.87% 406,300 $63M $154.80 $59M +381,300 +1525.2%
8 TSM 2.86% 153,000 $46M $303.89 +153,000 NEW
9 IFS 2.65% 1,022,210 $43M $42.12 $2M
10 MU 2.53% 144,000 $41M $285.41 $17M -1,000 -0.7%
11 NU 2.27% 2,201,400 $37M $16.74 -$27M -1,799,500 -45.0%
12 GOOG 2.12% 110,000 $35M $313.80 $7M -1,000 -0.9%
13 AVGO 1.73% 81,000 $28M $346.10 +81,000 NEW
14 LLY 1.61% 703,500 $26M $37.30 $4M +675,000 +2368.4%
15 AAPL 1.61% 96,100 $26M $271.86 $2M
16 META 1.46% 36,000 $24M $660.08 $4M +9,000 +33.3%
17 ARM 1.39% 206,730 $23M $109.31 -$9M -18,270 -8.1%
18 NVDA 1.29% 112,000 $21M $186.50 -$9K
19 PANW 1.25% 110,000 $20M $184.20 -$2M
20 AMZN 1.24% 87,000 $20M $230.82 $13M +55,500 +176.2%
21 FLR 1.22% 500,000 $20M $39.63 +500,000 NEW
22 ORCL 1.20% 100,000 $19M $194.91 +100,000 NEW
23 JPM 1.09% 55,000 $18M $322.22 $58K -1,000 -1.8%
24 FIGR 1.02% 407,044 $17M $40.84 $9M +200,044 +96.6%
25 WMT 0.82% 120,000 $13M $111.41 $1M
26 LMT 0.80% 27,000 $13M $483.67 -$420K
27 RTX 0.71% 63,000 $12M $183.40 $1M
28 INDA 0.70% 210,000 $11M $54.05 $417K
29 RSP 0.64% 54,000 $10M $191.56 +54,000 NEW
30 WDAY 0.59% 45,000 $10M $214.78 -$2M -3,000 -6.2%
31 COGT 0.53% 241,671 $9M $35.52 +241,671 NEW
32 YPF 0.50% 226,475 $8M $36.16 -$18M -853,525 -79.0%
33 SLV 0.50% 125,000 $8M $64.42 $7M +100,000 +400.0%
34 CRWD 0.43% 15,000 $7M $468.73 -$325K
35 BABA 0.41% 45,000 $7M $146.58 -$1M
36 GGAL 0.33% 99,312 $5M $53.94 $3M
37 NET 0.22% 18,000 $4M $197.17 -$314K
38 ETHA 0.14% 99,000 $2M $22.43 +99,000 NEW
39 GLD 0.12% 5,000 $2M $396.40 $205K
40 TSLA 0.11% 4,000 $2M $449.75 $20K
41 TMUS 0.10% 8,000 $2M $203.00 -$291K
42 BBAR 0.07% 63,000 $1M $18.06 $614K
43 SMH 0.07% 3,000 $1M $360.00 $101K
44 ARGT 0.05% 8,900 $814K $91.46 $193K
45 ALLO 0.01% 100,000 $137K $1.37 $13K
46 VRNA —% -$14M -135,000 -100.0% SOLD
47 ZM —% -$248K -3,000 -100.0% SOLD
48 XLE —% -$1M -16,000 -100.0% SOLD
49 XMTR —% -$272K -5,000 -100.0% SOLD
50 IBB —% -$938K -6,500 -100.0% SOLD
51 IBIT —% -$65M -1,000,000 -100.0% SOLD
52 OXY —% -$709K -15,000 -100.0% SOLD
53 ACM —% -$261K -2,000 -100.0% SOLD
54 ZBRA —% -$245K -825 -100.0% SOLD
55 XLF —% -$1M -26,000 -100.0% SOLD
56 MRVL —% -$4M -45,000 -100.0% SOLD
57 DOCU —% -$6M -85,400 -100.0% SOLD
58 AIFC —% -$5M -1,800,000 -100.0% SOLD

Options Breakdown

15 Calls $536M Call Value 1 Puts $0 Put Value 0.0 P/C Ratio

Top Calls

SymbolSharesValueStatus
NU 7,000,000 $117M
AMZN 480,000 $111M
MSFT 180,000 $87M NEW
ASHR 2,500,000 $82M
FCX 999,300 $51M NEW
MELI 24,800 $50M
YPF 500,400 $18M
NTRA 67,700 $16M
PYPL 70,300 $4M
DOCU $0 SOLD

Top Puts

SymbolSharesValueStatus
IWM $0 SOLD

New Positions

SymbolValue% Port
QQQ $402M 24.77%
TSM $46M 2.86%
AVGO $28M 1.73%
FLR $20M 1.22%
ORCL $19M 1.20%
RSP $10M 0.64%
COGT $9M 0.53%
ETHA $2M 0.14%

Sold Out Positions

SymbolValue% Port
ACM —%
OXY —%
AIFC —%
DOCU —%
MRVL —%
IBB —%
XLF —%
IBIT —%
ZBRA —%
XMTR —%
ZM —%
XLE —%
VRNA —%
View SEC EDGAR Filings for NWI MANAGEMENT LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms