SEC 13F Intelligence

Managers / Q3 2025 · view latest →

NWI MANAGEMENT LP

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

Reported Value
$3.7B
Q3 2025
Positions
131
includes revealed positions
Filings on Record
35
2019–present window
Filed
Nov 17, 2025
amendment (RESTATEMENT)

Summary

Nwi Management LP reported $3.7B in U.S.-listed holdings across 131 positions for Q3 2025.

Its largest position, INSM, represents 8.0% of the portfolio.

Compared with Q2 2025, the fund opened 15 new positions and exited 6.

Portfolio Metrics

Turnover
+49.6%
vs prior filed quarter
Top-10 Concentration
+35.2%
share of reported value
Largest Position
+8.0%
Insmed
New / Exited
15 / 6
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: 54.4%ETP: 33.8%ADR: 9.6%Other: 2.2%
  • Common Stock · 54.4% · $2.0B
  • ETP · 33.8% · $1.2B
  • ADR · 9.6% · $354M
  • Other · 2.2% · $82M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IWMISHARES TRREVEALEDNEW+2.00M2.00M+$484M$484M
IBITISHARES BITCOIN TRREVEALEDNEW+4.00M4.00M+$260M$260M
DBX ETF TRREVEALEDNEW+5.00M5.00M+$165M$165M
AMZNAMAZON COM INCREVEALEDNEW+663.0K663.0K+$146M$146M
DOCUDOCUSIGN INCREVEALEDNEW+512.4K512.4K+$37M$37M
LMTLOCKHEED MARTIN CORPREVEALEDNEW+54.0K54.0K+$27M$27M
RTXRTX CORPORATIONREVEALEDNEW+126.0K126.0K+$21M$21M
STUBSTUBHUB HLDGS INCREVEALEDNEW+1.00M1.00M+$17M$17M

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

Holdings — Q3 2025REVEALED

49 positions (from 103 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1INSMINSMED INCREVEALEDhistory →COM PAR $.017.98%$294M2.04M
2NTRANATERA INCREVEALEDhistory →COM7.25%$267M1.66M
3MELIMERCADOLIBRE INCREVEALEDhistory →COM5.41%$200M85.4K
4IBITISHARES BITCOIN TRREVEALEDhistory →SHS3.53%$130M2.00M
5TEVATEVA PHARMACEUTICAL INDS LTDREVEALEDhistory →SPONSORED ADS2.26%$83M4.13M
6INTERCORP FINL SVCS INCREVEALEDSHS2.22%$82M2.04M
7NUNU HLDGS LTDREVEALEDhistory →ORD SHS CL A1.74%$64M4.00M
8ARMARM HOLDINGS PLCREVEALEDhistory →SPONSORED ADS1.73%$64M450.0K
9MSFTMICROSOFT CORPREVEALEDhistory →COM1.60%$59M114.2K
10GOOGALPHABET INCREVEALEDhistory →CAP STK CL C1.47%$54M222.0K
11YPFYPF SOCIEDAD ANONIMAREVEALEDhistory →SPON ADR CL D1.42%$52M2.16M
12AAPLAPPLE INCREVEALEDhistory →COM1.33%$49M192.2K
13MUMICRON TECHNOLOGY INCREVEALEDhistory →COM1.32%$49M290.0K
14PANWPALO ALTO NETWORKS INCREVEALEDhistory →COM1.21%$45M220.0K
15LLYELI LILLY & COREVEALEDhistory →COM1.18%$43M57.0K
16NVDANVIDIA CORPORATIONREVEALEDhistory →COM1.13%$42M224.0K
17METAMETA PLATFORMS INCREVEALEDhistory →CL A1.08%$40M54.0K
18JPMJPMORGAN CHASE & CO.REVEALEDhistory →COM0.96%$35M112.0K
19VRNAVERONA PHARMA PLCREVEALEDhistory →SPONSORED ADS0.78%$29M270.0K
20LMTLOCKHEED MARTIN CORPREVEALEDhistory →COM0.73%$27M54.0K
21WMTWALMART INCREVEALEDhistory →COM0.67%$25M240.0K
22INDAISHARES TRREVEALEDMSCI INDIA ETF · ISHARES BIOTECH0.64%$24M433.0K
23WDAYWORKDAY INCREVEALEDhistory →CL A0.63%$23M96.0K
24RTXRTX CORPORATIONREVEALEDhistory →COM0.57%$21M126.0K
25STUBSTUBHUB HLDGS INCREVEALEDhistory →CL A0.46%$17M1.00M
26BABAALIBABA GROUP HLDG LTDREVEALEDhistory →SPONSORED ADS0.44%$16M90.0K
27FIGRFIGURE TECHNOLOGY SOLUTIOREVEALEDhistory →COM CL A0.41%$15M414.0K
28CRWDCROWDSTRIKE HLDGS INCREVEALEDhistory →CL A0.40%$15M30.0K
29AMZNAMAZON COM INCREVEALEDhistory →COM0.38%$14M63.0K
30XLVSELECT SECTOR SPDR TRREVEALEDSBI HEALTHCARE · ENERGY · FINANCIAL0.34%$13M134.0K
31DOCUDOCUSIGN INCREVEALEDhistory →COM0.33%$12M170.8K
32ALT5 SIGMA CORPREVEALEDCOM0.26%$10M3.60M
33NETCLOUDFLARE INCREVEALEDCL A COM0.21%$8M36.0K
34AZNNASTRAZENECA PLCREVEALEDSPONSORED ADR0.21%$8M100.0K
35MRVLMARVELL TECHNOLOGY INCREVEALEDCOM0.21%$8M90.0K
36GGALGRUPO FINANCIERO GALICIA S.AREVEALEDSPONSORED ADR0.15%$5M198.6K
37TMUST-MOBILE US INCREVEALEDCOM0.10%$4M16.0K
38TSLATESLA INCREVEALEDCOM0.10%$4M8.0K
39GLDSPDR GOLD TRREVEALEDGOLD SHS0.10%$4M10.0K
40SLVISHARES SILVER TRREVEALEDISHARES0.06%$2M50.0K
41SMHVANECK ETF TRUSTREVEALEDSEMICONDUCTR ETF0.05%$2M6.0K
42OXYOCCIDENTAL PETE CORPREVEALEDCOM0.04%$1M30.0K
43ARGTGLOBAL X FDSREVEALEDGB MSCI AR ETF0.03%$1M17.8K
44BBARBANCO BBVA ARGENTINA S AREVEALEDSPONSORED ADS0.03%$1M126.0K
45XMTRXOMETRY INCREVEALEDCLASS A COM0.01%$544,00010.0K
46ACMAECOMREVEALEDCOM0.01%$522,0004.0K
47ZMZOOM VIDEO COMMUNICATIONS INREVEALEDCL A0.01%$496,0006.0K
48ZBRAZEBRA TECHNOLOGIES CORPORATIREVEALEDCL A0.01%$490,0001.6K
49ALLOALLOGENE THERAPEUTICS INCREVEALEDCOM0.01%$248,000200.0K

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 ↗.