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NWI Management Portfolio holdings

AUM $1.76B
1-Year Est. Return 45.08%
This Fund
S&P 500
This Quarter Est. Return
+13.09%
1 Year Est. Return
+45.08%
3 Year Est. Return
+169.79%
5 Year Est. Return
+196.17%
10 Year Est. Return
+701.13%
AUM
$2.17B
AUM Growth
+$296M
Cap. Flow
+$142M
Cap. Flow %
6.55%
Top 10 Hldgs %
62.99%
Holding
77
New
11
Increased
8
Reduced
11
Closed
20

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$402M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$57.1M
3
MSFT icon
Microsoft
MSFT
+$45.1M
4
TSM icon
TSMC
TSM
+$44.9M
5
AVGO icon
Broadcom
AVGO
+$29M

Top Sells

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$65M
2
NU icon
Nu Holdings
NU
+$28.9M
3
YPF icon
YPF
YPF
+$28.3M
4
LLY icon
Eli Lilly
LLY
+$25.8M
5
VRNA
Verona Pharma
VRNA
+$14.4M

Sector Composition

Rank Sector Weight
1 Healthcare 20.75%
2 Technology 14.57%
3 Financials 5.56%
4 Consumer Discretionary 5.27%
5 Communication Services 3.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSLA icon
51
Tesla
TSLA
$1.21T
$1.8M 0.08%
4,000
– –
TMUS icon
52
T-Mobile US
TMUS
$194B
$1.62M 0.07%
8,000
– –
LLY icon
53
Eli Lilly
LLY
$1.09T
$1.61M 0.07%
1,500
-27,000
-95% -$25.8M
BBAR icon
54
BBVA Argentina
BBAR
$3.81B
$1.14M 0.05%
63,000
– –
SMH icon
55
VanEck Semiconductor ETF
SMH
$63.3B
$1.08M 0.05%
3,000
– –
ARGT icon
56
Global X MSCI Argentina ETF
ARGT
$839M
$814K 0.04%
8,900
– –
ALLO icon
57
Allogene Therapeutics
ALLO
$587M
$137K 0.01%
100,000
– –
ACM icon
58
Aecom
ACM
$9.44B
– –
-2,000
Closed -$261K
ARM icon
59
CALL
Arm
ARM
$257B
– –
-250,000
Closed -$35.4M
DOCU
60
CALL
DocuSign
DOCU
$10.8B
– –
-170,800
Closed -$12.3M
DOCU
61
DocuSign
DOCU
$10.8B
– –
-85,400
Closed -$6.16M
IBB icon
62
iShares Biotechnology ETF
IBB
$9.56B
– –
-6,500
Closed -$938K
IBIT icon
63
CALL
iShares Bitcoin Trust
IBIT
$47.6B
– –
-1,000,000
Closed -$65M
IBIT icon
64
iShares Bitcoin Trust
IBIT
$47.6B
– –
-1,000,000
Closed -$65M
INDA icon
65
CALL
iShares MSCI India ETF
INDA
$6.82B
– –
-566,900
Closed -$29.5M
IWM icon
66
PUT
iShares Russell 2000 ETF
IWM
$80.3B
– –
-1,000,000
Closed -$242M
MRVL icon
67
Marvell Technology
MRVL
$157B
– –
-45,000
Closed -$3.78M
OXY icon
68
Occidental Petroleum
OXY
$55.8B
– –
-15,000
Closed -$709K
SLV icon
69
CALL
iShares Silver Trust
SLV
$27.6B
– –
-979,700
Closed -$41.5M
VRNA
70
DELISTED
Verona Pharma
VRNA
– –
-135,000
Closed -$14.4M
XLE icon
71
State Street Energy Select Sector SPDR ETF
XLE
$39.3B
– –
-32,000
Closed -$1.43M
XLF icon
72
State Street Financial Select Sector SPDR ETF
XLF
$57.1B
– –
-26,000
Closed -$1.4M
XLV icon
73
CALL
State Street Health Care Select Sector SPDR ETF
XLV
$43.2B
– –
-540,000
Closed -$75.2M
XMTR icon
74
Xometry
XMTR
$4.69B
– –
-5,000
Closed -$272K
ZBRA icon
75
Zebra Technologies
ZBRA
$13.7B
– –
-825
Closed -$245K
1 2
3
4

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KOCAA
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NWI Management's Q4 2025 Portfolio in Review

As of Q4 2025, NWI Management held 77 positions worth $2.17B, up 16% from $1.88B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

NWI Management deployed $142M of net new capital in Q4 2025, opening 11 new positions and adding to 8 existing holdings. Its largest new stake was Invesco QQQ Trust: 655,200 shares worth $402M.

By sector, the portfolio is most concentrated in Healthcare at 21% of assets, up from 19% a quarter earlier, followed by Technology and Financials.

On the sell side, the largest reduction was Nu Holdings, an estimated $28.9M trimmed.

  • NWI Management's largest Q4 2025 buy was Invesco QQQ Trust: 655,200 shares worth $402M.
  • NWI Management added most to State Street Health Care Select Sector SPDR ETF in Q4 2025, an estimated $57.1M increase.
  • NWI Management's biggest Q4 2025 reduction was Nu Holdings, cutting an estimated $28.9M.
  • NWI Management fully exited iShares Bitcoin Trust in Q4 2025, selling an estimated $65M.
  • NWI Management's ten largest holdings make up 63% of its $2.17B portfolio in Q4 2025.
  • NWI Management opened 11 new positions and closed 20 in Q4 2025.
  • NWI Management's portfolio value rose 16% quarter-over-quarter to $2.17B.

Based on NWI Management's 13F filing for Q4 2025, filed 17 Feb 2026.