SEC 13F Intelligence

Managers / Q2 2025 · view latest →

NWI MANAGEMENT LP

CIK 0001103887 · 623 FIFTH AVENUE, 23 FLOOR, NEW YORK, NY, 10022 · 2122972958

Reported Value
$3.8B
Q2 2025
Positions
111
includes revealed positions
Filings on Record
35
2019–present window
Filed
Aug 14, 2025
original filing

Summary

Nwi Management LP reported $3.8B in U.S.-listed holdings across 111 positions for Q2 2025.

Its largest position, NTRA, represents 7.5% of the portfolio.

Compared with Q1 2025, the fund opened 6 new positions and exited 3.

Portfolio Metrics

Turnover
+3.0%
vs prior filed quarter
Top-10 Concentration
+37.8%
share of reported value
Largest Position
+7.5%
Natera
New / Exited
6 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $3.8BQ1 ’19Q2 ’19: $1.2BQ3 ’19: $1.6BQ4 ’19: $2.4BQ1 ’20: $1.2BQ1 ’20Q2 ’20: $1.3BQ3 ’20: $1.2BQ4 ’20: $1.0BQ1 ’21: $1.2BQ1 ’21Q2 ’21: $1.6BQ3 ’21: $1.6BQ4 ’21: $1.5BQ1 ’22: $873MQ1 ’22Q2 ’22: $3.3BQ3 ’22: $570MQ4 ’22: $452MQ1 ’23: $908MQ1 ’23Q2 ’23: $556MQ3 ’23: $2.1BQ4 ’23: $4.0BQ1 ’24: $3.3BQ1 ’24Q2 ’24: $2.7BQ3 ’24: $3.8BQ4 ’24: $2.3BQ1 ’25: $796MQ1 ’25Q2 ’25: $3.8BQ3 ’25: $3.7BQ4 ’25: $4.3BQ1 ’26: $3.5BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 63.8%ETP: 24.3%ADR: 9.2%Other: 2.0%MLP: 0.6%
  • Common Stock · 63.8% · $2.4B
  • ETP · 24.3% · $931M
  • ADR · 9.2% · $354M
  • Other · 2.0% · $77M
  • MLP · 0.6% · $24M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NUNU HLDGS LTDREVEALEDNEW+7.36M7.36M+$101M$101M
VRNAVERONA PHARMA PLCREVEALEDNEW+270.0K270.0K+$26M$26M
ETENERGY TRANSFER L PREVEALEDNEW+1.35M1.35M+$24M$24M
CVNACARVANA COREVEALEDNEW+30.0K30.0K+$10M$10M
APPAPPLOVIN CORPREVEALEDNEW+28.8K28.8K+$10M$10M
ALLOALLOGENE THERAPEUTICS INCREVEALEDNEW+200.0K200.0K+$226,000$226,000
SLVISHARES SILVER TRREVEALEDADDED+10.20M10.23M+$335M$335M
XLFSELECT SECTOR SPDR TRREVEALEDADDED+9.38M9.41M+$284M$286M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025REVEALED

42 positions (from 89 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NTRANATERA INCREVEALEDhistory →COM7.49%$287M1.70M
2MELIMERCADOLIBRE INCREVEALEDhistory →COM5.83%$223M85.4K
3SMHVANECK ETF TRUSTREVEALEDhistory →SEMICONDUCTR ETF4.50%$172M618.0K
4INSMINSMED INCREVEALEDhistory →COM PAR $.013.78%$145M1.44M
5YPFYPF SOCIEDAD ANONIMAREVEALEDhistory →SPON ADR CL D3.28%$126M4.00M
6AAPLAPPLE INCREVEALEDhistory →COM3.28%$126M612.2K
7SLVISHARES SILVER TRREVEALEDhistory →ISHARES3.13%$120M3.66M
8NVDANVIDIA CORPORATIONREVEALEDhistory →COM2.41%$92M584.0K
9COHRCOHERENT CORPREVEALEDhistory →COM2.10%$80M900.0K
10INTERCORP FINL SVCS INCREVEALEDSHS2.02%$77M2.04M
11ARMARM HOLDINGS PLCREVEALEDhistory →SPONSORED ADS1.90%$73M450.0K
12TEVATEVA PHARMACEUTICAL INDS LTDREVEALEDhistory →SPONSORED ADS1.81%$69M4.13M
13MSFTMICROSOFT CORPREVEALEDhistory →COM1.48%$57M114.2K
14PANWPALO ALTO NETWORKS INCREVEALEDhistory →COM1.18%$45M220.0K
15LLYELI LILLY & COREVEALEDhistory →COM1.16%$44M57.0K
16METAMETA PLATFORMS INCREVEALEDhistory →CL A1.04%$40M54.0K
17GOOGALPHABET INCREVEALEDhistory →CAP STK CL C1.03%$39M222.0K
18MUMICRON TECHNOLOGY INCREVEALEDhistory →COM0.93%$36M290.0K
19JPMJPMORGAN CHASE & CO.REVEALEDhistory →COM0.85%$32M112.0K
20NUNU HLDGS LTDREVEALEDhistory →ORD SHS CL A0.72%$27M2.00M
21AMDADVANCED MICRO DEVICES INCREVEALEDhistory →COM0.67%$26M180.0K
22VRNAVERONA PHARMA PLCREVEALEDhistory →SPONSORED ADS0.67%$26M270.0K
23INDAISHARES TRREVEALEDMSCI INDIA ETF · ISHARES BIOTECH0.65%$25M433.0K
24WMTWALMART INCREVEALEDhistory →COM0.61%$23M240.0K
25WDAYWORKDAY INCREVEALEDhistory →CL A0.60%$23M96.0K
26CRWDCROWDSTRIKE HLDGS INCREVEALEDhistory →CL A0.40%$15M30.0K
27AVGOBROADCOM INCREVEALEDhistory →COM0.33%$13M46.0K
28XLVSELECT SECTOR SPDR TRREVEALEDSBI HEALTHCARE · FINANCIAL · ENERGY0.32%$12M134.0K
29BABAALIBABA GROUP HLDG LTDREVEALEDhistory →SPONSORED ADS0.27%$10M90.0K
30CVNACARVANA COREVEALEDhistory →CL A0.26%$10M30.0K
31APPAPPLOVIN CORPREVEALEDhistory →COM CL A0.26%$10M28.8K
32GGALGRUPO FINANCIERO GALICIA S.AREVEALEDhistory →SPONSORED ADR0.26%$10M198.6K
33NETCLOUDFLARE INCREVEALEDCL A COM0.18%$7M36.0K
34AZNNASTRAZENECA PLCREVEALEDSPONSORED ADR0.18%$7M100.0K
35MRVLMARVELL TECHNOLOGY INCREVEALEDCOM0.18%$7M90.0K
36TMUST-MOBILE US INCREVEALEDCOM0.10%$4M16.0K
37GLDSPDR GOLD TRREVEALEDGOLD SHS0.08%$3M10.0K
38TSLATESLA INCREVEALEDCOM0.07%$3M8.0K
39BBARBANCO BBVA ARGENTINA S AREVEALEDSPONSORED ADS0.05%$2M126.0K
40ARGTGLOBAL X FDSREVEALEDGB MSCI AR ETF0.04%$2M17.8K
41OXYOCCIDENTAL PETE CORPREVEALEDCOM0.03%$1M30.0K
42ALLOALLOGENE THERAPEUTICS INCREVEALEDCOM0.01%$226,000200.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026REVEALED$3.5B104May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025REVEALED$4.3B114Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025REVEALED$3.7B131Nov 17, 2025RESTATEMENTchanges · EDGAR ↗
Q2 2025REVEALED$3.8B111Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$796M46May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.3B55Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.8B46Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.7B41Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.3B52May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$4.0B53Feb 15, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.1B51Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$556M43Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$908M45May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$452M41Feb 15, 202313F-HRchanges · EDGAR ↗
Q3 2022$570M44Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022REVEALED$3.3B111Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$873M44May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.5B49Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.6B46Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.6B52Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.2B49May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.0B43Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.2B38Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.3B44Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.2B35May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.4B49Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.6B42Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.2B39Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$3.8B46May 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.