NWI MANAGEMENT LP
Sector Allocation
- Technology44.8%$701.0M
- Healthcare28.2%$441.0M
- Financials13.5%$211.5M
- Other6.7%$104.6M
- Consumer Discretionary3.0%$47.6M
- Industrials2.4%$37.7M
- Consumer Staples0.9%$13.6M
- Materials0.1%$2.1M
- Utilities0.1%$2.0M
- Real Estate0.1%$2.0M
AUM History
13fpro.ai/research/fund/nwi-management-lp-1103887
Conviction and streaks
Concentrating · top 10 = 71.9%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NTRA
$207.0MMU
$155.1MMETA
$111.5MAAPL
$108.8MINSM
$108.1MGOOG
$102.5MNU
$94.0MTSM
$90.3M- SELECT$89.6M
IFS
$57.3MNVDA
$36.8MBDX
$34.0MRVMD
$33.7MPANW
$30.7MRTX
$23.9MNAMS
$23.8MMSFT
$23.3MAMZN
$20.7MTSLA
$20.6MJPM
$18.0M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/nwi-management-lp-1103887
NWI MANAGEMENT LP 13F holdings — Q2 2026
$2.2B portfolio (+22.8% QoQ) · 55 holdings · Q2 2026 13F · top 10 are 72% of the stock portfolio
Includes $596.4M of put/call options ($478.3M puts, $118.1M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.6B. Weights use the stock portfolio.
$207.0M
13.2% of stocks
No changeThis quarter+30.6%Since filed3+ qtrsHeld$155.1M
9.9% of stocks
-7%This quarter-7.0%Since filed3+ qtrsHeld$111.5M
7.1% of stocks
+120%This quarter+6.9%Since filed3+ qtrsHeld$108.8M
7.0% of stocks
+291%This quarter+12.4%Since filed3+ qtrsHeld$108.1M
6.9% of stocks
No changeThis quarter-24.6%Since filed3+ qtrsHeld$102.5M
6.5% of stocks
+164%This quarter-8.5%Since filed3+ qtrsHeld$94.0M
6.0% of stocks
+14%This quarter-17.3%Since filed3+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$90.3M
5.8% of stocks
+24%This quarter-0.5%Since filed3+ qtrsHeld- 9
SELECT SECTOR SPDR TR - SBI HEALTHCARE
$89.6M
5.7% of stocks
+2160%This quarter—Since filed—HeldAIQuality—Est. buy— $57.3M
3.7% of stocks
No changeThis quarter-5.6%Since filed3+ qtrsHeld
All holdings — NWI MANAGEMENT LP (Q2 2026)
55 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | INVESCO QQQ TRUST, SERIES 1 | — | $220.9M | — | 300K | New | — | — | 13F | |
| 12 | — PUT | VANECK ETF TRUST - SEMICONDUCTR ETF | — | $196.8M | — | 300K | New | — | — | 13F |
| 13 | SPDR GOLD TRUST | Financials | $79.6M | — | 216K | New | — | — | 13F | |
| 14 | — PUT | ISHARES INC - MSCI STH KOR ETF | — | $60.6M | — | 300K | New | — | — | 13F |
| 15 | NVIDIA CORP | Technology | $36.8M | 2.4% | 184K | +64% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | BECTON DICKINSON & CO | Healthcare | $34.0M | 2.2% | 225K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Revolution Medicines, Inc. | Healthcare | $33.7M | 2.1% | 180K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Palo Alto Networks Inc | Technology | $30.7M | 2.0% | 90K | -18% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | RTX Corp | Industrials | $23.9M | 1.5% | 126K | +100% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | NewAmsterdam Pharma Co N.V. | Healthcare | $23.8M | 1.5% | 702K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | MICROSOFT CORP | Technology | $23.3M | 1.5% | 63K | -69% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Tesla, Inc. | Consumer Discretionary | $21.0M | — | 50K | New | — | — | 13F | |
| 23 | AMAZON COM INC | Consumer Discretionary | $20.7M | 1.3% | 87K | — | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Tesla, Inc. | Consumer Discretionary | $20.6M | 1.3% | 49K | +1125% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | JPMORGAN CHASE & CO | Financials | $18.0M | 1.1% | 55K | — | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $FIGR | Figure Technology Solutions, Inc. | Financials | $18.0M | 1.1% | 585K | +50% | |||
| 27 | $META CALL | Meta Platforms, Inc. | Technology | $17.5M | — | 31K | New | |||
| 28 | $NOC | NORTHROP GRUMMAN CORP /DE/ | Technology | $15.8M | 1.0% | 31K | +45% | |||
| 29 | $ORCL | ORACLE CORP | Technology | $14.7M | 0.9% | 100K | — | |||
| 30 | $LMT | LOCKHEED MARTIN CORP | Industrials | $13.8M | 0.9% | 27K | — | |||
| 31 | $WMT | Walmart Inc. | Consumer Staples | $13.6M | 0.9% | 120K | — | |||
| 32 | $IVZ | Invesco Ltd. | Financials | $11.5M | 0.7% | 54K | — | |||
| 33 | $CRWD | CrowdStrike Holdings, Inc. | Technology | $11.4M | 0.7% | 15K | — | |||
| 34 | — | ISHARES TR - MSCI INDIA ETF | — | $10.4M | 0.7% | 210K | — | |||
| 35 | $ABVX | Abivax S.A. | Healthcare | $9.6M | 0.6% | 72K | New | |||
| 36 | $COGT | Cogent Biosciences, Inc. | Healthcare | $9.4M | 0.6% | 242K | — | |||
| 37 | $WAT | WATERS CORP /DE/ | Healthcare | $7.3M | 0.5% | 19K | — | |||
| 38 | $GGAL | GRUPO FINANCIERO GALICIA SA | Financials | $5.0M | 0.3% | 99K | — | |||
| 39 | $AZN | ASTRAZENECA PLC | Healthcare | $4.7M | 0.3% | 25K | — | |||
| 40 | $BABA | Alibaba Group Holding Ltd | Consumer Discretionary | $4.3M | 0.3% | 45K | — | |||
| 41 | $SLV | iShares Silver Trust | Financials | $3.5M | 0.2% | 65K | — | |||
| 42 | $NEM | NEWMONT Corp /DE/ | Materials | $2.1M | 0.1% | 23K | New | |||
| 43 | $VST | Vistra Corp. | Utilities | $2.0M | 0.1% | 13K | New | |||
| 44 | — | VANECK ETF TRUST - SEMICONDUCTR ETF | — | $2.0M | 0.1% | 3,000 | — | |||
| 45 | $JLL | JONES LANG LASALLE INC | Real Estate | $2.0M | 0.1% | 6,300 | New | |||
| 46 | $MCD | MCDONALDS CORP | Consumer Discretionary | $1.9M | 0.1% | 7,200 | New | |||
| 47 | $GLD | SPDR GOLD TRUST | Financials | $1.8M | 0.1% | 5,000 | — | |||
| 48 | — | ISHARES INC - MSCI STH KOR ETF | — | $1.8M | 0.1% | 9,000 | — | |||
| 49 | $LLY | ELI LILLY & Co | Healthcare | $1.8M | 0.1% | 1,500 | -100% | |||
| 50 | $TEVA | TEVA PHARMACEUTICAL INDUSTRIES LTD | Healthcare | $1.4M | 0.1% | 40K | -98% | |||
| 51 | $TMUS | T-Mobile US, Inc. | Communication Services | $1.3M | 0.1% | 8,000 | — | |||
| 52 | $BBAR | Banco BBVA Argentina S.A. | Financials | $1.2M | 0.1% | 63K | — | |||
| 53 | $ETHA | iShares Ethereum Trust ETF | Financials | $1.2M | 0.1% | 99K | — | |||
| 54 | — | GLOBAL X FDS - GB MSCI AR ETF | — | $813K | 0.1% | 8,900 | — | |||
| 55 | $ALLO | Allogene Therapeutics, Inc. | Healthcare | $208K | 0.0% | 100K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 13 new, 11 added to, 5 trimmed, 9 sold out. Share-count changes; largest moves by dollar size first.
New positions (13)
$QQQPUTINVESCO QQQ TRUST, SERIES 1$220.9M
first bought this quarter
- PUTVANECK ETF TRUST - SEMICONDUCTR ETF$196.8M
first bought this quarter
$GLDCALLSPDR GOLD TRUST$79.6M
first bought this quarter
- PUTISHARES INC - MSCI STH KOR ETF$60.6M
first bought this quarter
first bought this quarter
first bought this quarter
+7 more in the Excel export
Added to (11)
- SELECT SECTOR SPDR TR - SBI HEALTHCARE+2160%
now $89.6M
now $108.8M · held 3+ qtrs
now $102.5M · held 3+ qtrs
now $111.5M · held 3+ qtrs, 2 adds in a row
now $20.6M · held 3+ qtrs
now $90.3M · held 3+ qtrs
+5 more in the Excel export
Trimmed (5)
Holdings by quarter
Every 13F NWI MANAGEMENT LP has filed, 37 earlier quarters. Pick one to see what it held then.
Is it too late to follow NWI MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of NWI MANAGEMENT's top 20 holdings: 69/100 (our AI quality score, weighted by position size; 15 of the 20 are scored)
Top 10 since filing
+1.6%
Value-weighted move of the 10 largest stock positions
Turnover
28%
Last quarter
Top 10 weight
72%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
0%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
NWI MANAGEMENT LP disclosed 55 positions worth $2.2B in its Form 13F-HR for Q2 2026 — $1.6B in common stock plus $596.4M of put/call option positions (reported at underlying notional value, not premium at risk), led by $NTRA (Natera, Inc.) at 13.2% of the equity portfolio, followed by $MU and $META. During the quarter the fund opened 13 new positions and exited 9 — including a new stake in $QQQ and a full exit from $QQQ. The portfolio is most concentrated in Technology (44.8% of disclosed assets). All figures are sourced directly from NWI MANAGEMENT LP’s Form 13F-HR filing with the SEC under CIK 1103887.
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