Nwi Management LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Nwi Management LP reported 46 stock positions worth $1.3 billion. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 26.2% of the portfolio, followed by Natera (NTRA, 9.0%) and iShares Bitcoin Trust ETF (IBIT, 8.0%). Compared with Q3 2024, it opened 10 new positions, sold out of 3, added to 7 and reduced 6. The biggest buy was a new position in Invesco QQQ Trust Series 1 (QQQ) and the biggest sale an exit from Invesco S&P 500 Equal Weight (RSP).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001103887
Portfolio Value
$1.3B (Q4 2024)
SEC Filing
0001103887-25-000001 ↗ filed Feb 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $729.8M Q1 2024 Q2 2024: $779.0M Q2 2024 Q3 2024: $838.7M Q3 2024 Q4 2024: $1.3B $1.3B Q4 2024 Q1 2025: $750.3M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.6B Q2 2026

Holdings 46 stocks · $1.3B
QQQ Invesco QQQ Trust Series 1 26.22% 648,000 $331.3M New
NTRA Natera Inc. 9.02% 720,000 $114.0M Add +33.3%
IBIT iShares Bitcoin Trust ETF 7.98% 1,900,000 $100.8M New
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 6.73% 2,000,000 $85.0M Add +33.3%
COHR Coherent Corp. 6.07% 810,000 $76.7M No change
MELI MercadoLibre Inc. 5.75% 42,700 $72.6M New
X United States Steel Corp. 3.87% 1,440,000 $48.9M New
GOOG Alphabet Inc. Class C 3.57% 237,000 $45.1M Add +127.9%
AMZN Amazon.com Inc. 3.13% 180,000 $39.5M No change
AAPL Apple Inc. 2.50% 126,100 $31.6M No change
IFS Intercorp Financial Services 2.35% 1,022,210 $29.6M No change
NVDA Nvidia Corp. 2.30% 216,000 $29.0M Add +1036.8%
MSFT Microsoft Corp. 2.12% 63,400 $26.7M Reduce -70.3%
PANW Palo Alto Networks Inc. 1.80% 125,000 $22.7M No change
META Meta Platforms Inc. Class A 1.74% 37,500 $22.0M No change
WDC Western Digital Corp. 1.70% 360,000 $21.5M New
INSM Insmed Inc. 1.52% 279,000 $19.3M Add +186.0%
TEVA Teva Pharmaceutical-SP ADR 1.26% 720,000 $15.9M New
JPM JPMorgan Chase & Co. 1.06% 56,000 $13.4M Reduce -3.5%
WDAY Workday Inc. Class A 0.98% 48,000 $12.4M No change
MU Micron Technology Inc. 0.97% 145,000 $12.2M No change
ADBE Adobe Inc. 0.95% 27,000 $12.0M Reduce -48.1%
AMD Advanced Micro Devices 0.86% 90,000 $10.9M No change
WMT Walmart Inc. 0.86% 120,000 $10.8M No change
AR Antero Resources Corp. 0.83% 300,000 $10.5M No change
TSLA Tesla Inc. 0.50% 15,700 $6.3M Add +161.7%
INDA iShares MSCI India ETF 0.50% 120,000 $6.3M Add +500.0%
CRWD CrowdStrike Holdings Inc. Class A 0.41% 15,000 $5.1M No change
BABA Alibaba Group Holding-SP ADR 0.30% 45,000 $3.8M No change
XLV SS Health Care Select Sector 0.27% 25,000 $3.4M No change
AZN Astrazeneca PLC-Spons ADR 0.26% 50,000 $3.3M No change
GEO The Geo Group Inc. 0.20% 88,600 $2.5M New
CXW Corecivic Inc. 0.19% 112,000 $2.4M New
NET Cloudflare Inc. Class A 0.15% 18,000 $1.9M No change
TMUS T-Mobile US Inc. 0.14% 8,000 $1.8M Reduce -20.0%
GGAL Grupo Financiero Galicia-ADR 0.14% 27,987 $1.7M No change
AXON Axon Enterprise Inc. 0.11% 2,400 $1.4M New
XLE SS Energy Select Sector 0.11% 16,000 $1.4M Reduce -98.4%
XLF SS Financial Select Sector 0.10% 26,000 $1.3M No change
GLD SPDR Gold Shares 0.10% 5,000 $1.2M No change
LLY Eli Lilly & Co. 0.09% 1,500 $1.2M New
IBB iShares Biotechnology ETF 0.07% 6,500 $859K No change
OXY Occidental Petroleum Corp. 0.06% 15,000 $741K No change
ARGT Global X MSCI Argentina ETF 0.06% 8,900 $736K No change
SMH Vaneck Semiconductor ETF 0.06% 3,000 $727K No change
SLV iShares Silver Trust 0.05% 25,000 $658K Reduce -28.6%

Options reported separately and not counted above: GLD calls ($242.1M), TLT puts ($237.5M), GOOG calls ($190.4M), IBIT puts ($100.8M), LLY calls ($77.2M), CVX calls ($72.4M), AMZN calls ($65.8M), YPF calls ($21.3M), EWZ calls ($101K).

Portfolio Sells Q3 2024 → Q4 2024
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −21.36
XLE SS Energy Select Sector Reduce -98.4% 0.11% −10.53
MSFT Microsoft Corp. Reduce -70.3% 2.12% −8.83
ADBE Adobe Inc. Reduce -48.1% 0.95% −2.26
ST Sensata Technologies Holdplc Sold out 0.00% −1.92
JPM JPMorgan Chase & Co. Reduce -3.5% 1.06% −0.40
IWM iShares Russell 2000 ETF Sold out 0.00% −0.13
TMUS T-Mobile US Inc. Reduce -20.0% 0.14% −0.11
SLV iShares Silver Trust Reduce -28.6% 0.05% −0.07

Portfolio Buys Q3 2024 → Q4 2024
QQQ Invesco QQQ Trust Series 1 New 26.22% +26.22
IBIT iShares Bitcoin Trust ETF New 7.98% +7.98
MELI MercadoLibre Inc. New 5.75% +5.75
X United States Steel Corp. New 3.87% +3.87
YPF YPF S.A.-Sponsored ADR Add +33.3% 6.73% +2.94
NVDA Nvidia Corp. Add +1036.8% 2.30% +2.02
WDC Western Digital Corp. New 1.70% +1.70
GOOG Alphabet Inc. Class C Add +127.9% 3.57% +1.50
TEVA Teva Pharmaceutical-SP ADR New 1.26% +1.26
NTRA Natera Inc. Add +33.3% 9.02% +0.85
INSM Insmed Inc. Add +186.0% 1.52% +0.68
INDA iShares MSCI India ETF Add +500.0% 0.50% +0.36
TSLA Tesla Inc. Add +161.7% 0.50% +0.31
GEO The Geo Group Inc. New 0.20% +0.20
CXW Corecivic Inc. New 0.19% +0.19
AXON Axon Enterprise Inc. New 0.11% +0.11
LLY Eli Lilly & Co. New 0.09% +0.09

Options Activity Q3 2024 → Q4 2024
QQQ Invesco QQQ Trust Series 1 put Sold out 3,000,000 $1.5Bbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 1,000,000 $573.8Mbefore exit
XBI SS SPDR S&P Biotech ETF call Sold out 4,000,000 $395.2Mbefore exit
GLD SPDR Gold Shares call New 1,000,000 $242.1M
TLT iShares 20+ Year Treasury BD put Reduce -32.0% 2,719,700 $237.5M
GOOG Alphabet Inc. Class C call New 1,000,000 $190.4M
KRE SS SPDR S&P Regional Bank call Sold out 2,000,000 $113.2Mbefore exit
IBIT iShares Bitcoin Trust ETF put New 1,900,000 $100.8M
LLY Eli Lilly & Co. call New 100,000 $77.2M
CVX Chevron Corp. call New 500,000 $72.4M
AMZN Amazon.com Inc. call New 300,000 $65.8M
MELI MercadoLibre Inc. call Sold out 30,700 $63.0Mbefore exit
YPF YPF S.A.-Sponsored ADR call New 500,400 $21.3M
XLU St Sr Utl SL SE SPDR ETF-Usd put Sold out 9,800 $792Kbefore exit
EWZ iShares MSCI Brazil ETF call New 4,500 $101K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 49$1.6BNTRA, MU, META, AAPL, INSM
Q1 2026Amended 49$1.6BQQQ, INSM, NTRA, NU, MSFT
Q4 2025Amended 48$1.6BQQQ, NTRA, INSM, MELI, MSFT
Q3 2025Amended 52$1.0BINSM, NTRA, MELI, IBIT, NU
Q2 2025Amended 45$1.1BNTRA, MELI, SMH, INSM, YPF
Q1 2025 42$750.3MNTRA, MELI, META, YPF, GOOG
Q4 2024 46$1.3BQQQ, NTRA, IBIT, YPF, COHR
Q3 2024 39$838.7MRSP, MSFT, XLE, COHR, NTRA
Q2 2024 37$779.0MMSFT, GDX, AAPL, COHR, AMZN
Q1 2024 45$729.8MMSFT, SLV, NVDA, DELL, META