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NM

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
QQQ icon
1
Invesco QQQ Trust
QQQ
$466B
$402M 18.53%
+655,200
New +$402M
NTRA icon
2
Natera
NTRA
$38.9B
$175M 8.04%
762,603
-67,700
-8% -$14.1M
INSM icon
3
Insmed
INSM
$23.5B
$172M 7.92%
988,460
-32,540
-3% -$5.94M
NU icon
4
CALL
Nu Holdings
NU
$65.6B
$117M 5.4%
7,000,000
+1,000,000
+17% +$16.1M
AMZN icon
5
CALL
Amazon
AMZN
$2.66T
$111M 5.1%
480,000
+180,000
+60% +$41.2M
MSFT icon
6
CALL
Microsoft
MSFT
$2.93T
$87.1M 4.01%
+180,000
New +$90.2M
MELI icon
7
Mercado Libre
MELI
$92B
$86M 3.96%
42,700
– –
ASHR icon
8
CALL
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.29B
$82.1M 3.78%
2,500,000
– –
MSFT icon
9
Microsoft
MSFT
$2.93T
$71.1M 3.28%
147,100
+90,000
+158% +$45.1M
TEVA icon
10
Teva Pharmaceuticals
TEVA
$37.3B
$64.4M 2.97%
2,065,000
– –
XLV icon
11
State Street Health Care Select Sector SPDR ETF
XLV
$41.4B
$62.9M 2.9%
406,300
+381,300
+1,525% +$57.1M
FCX icon
12
CALL
Freeport-McMoran
FCX
$83.9B
$50.8M 2.34%
+999,300
New +$43.3M
MELI icon
13
CALL
Mercado Libre
MELI
$92B
$50M 2.3%
24,800
– –
TSM icon
14
TSMC
TSM
$2.07T
$46.5M 2.14%
+153,000
New +$44.9M
IFS icon
15
Intercorp Financial Services
IFS
$6.6B
$43.1M 1.98%
1,022,210
– –
MU icon
16
Micron Technology
MU
$959B
$41.1M 1.89%
144,000
-1,000
-0.7% -$229K
NU icon
17
Nu Holdings
NU
$65.6B
$36.9M 1.7%
2,201,400
-1,799,500
-45% -$28.9M
GOOG icon
18
Alphabet (Google) Class C
GOOG
$4.22T
$34.5M 1.59%
110,000
-1,000
-0.9% -$286K
AVGO icon
19
Broadcom
AVGO
$1.76T
$28M 1.29%
+81,000
New +$29M
AAPL icon
20
Apple
AAPL
$4.9T
$26.1M 1.2%
96,100
– –
NAMS icon
21
NewAmsterdam Pharma
NAMS
$3.7B
$24.6M 1.13%
+702,000
New +$25.5M
META icon
22
Meta Platforms (Facebook)
META
$1.64T
$23.8M 1.09%
36,000
+9,000
+33% +$6.01M
ARM icon
23
Arm
ARM
$285B
$22.6M 1.04%
206,730
-18,270
-8% -$2.66M
NVDA icon
24
NVIDIA
NVDA
$4.91T
$20.9M 0.96%
112,000
– –
PANW icon
25
Palo Alto Networks
PANW
$292B
$20.3M 0.93%
110,000
– –
1
2 3 4

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SLF
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PCA
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CCIA
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SRIM
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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.