NM
Nwi Management LP SEC 13F Filing (Q2 2026) — Holdings & Portfolio
Nwi Management LPCIK: 0001103887
Diversified strategyMomentum followerHigh-turnover trader
Total reported value
$2.2B
Reporting period: 2026-06-30 · Number of holdings: 55
NWI MANAGEMENT LP disclosed 55 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.2B and a quarterly turnover rate of 86.1%.
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Personality snowflake
- Concentration
- 21.88
- Portfolio Stability
- 86.11
- Momentum
- 100
- Sector conviction
- 74.24
- Diversification
- 100
- Sizing Uniformity
- 86.7
Nwi Management LP's disclosed holdings carry a Herfindahl concentration index of 0.055 — mathematically equivalent to about 18 equally-sized positions, well below its 55 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.33), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 63% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim QQQ
-51.2% -$133.9M
Add SMH
+10000.0% $197.6M
Sold out EWZ
Trim MSFT
-78.5% -$84.4M
Trim INSM
0.0% -$57.7M
Add MU
-6.7% $106.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 50 holdings (of 55 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 10.22% | -9.95% | -51.20% | |
| 2 | NTRA | Natera Inc | Stock-Healthcare | 9.58% | +0.91% | — | |
| 3 | SMH | Vaneck Semiconductor ETF | ETF-Other | 9.20% | +9.13% | +10000.00% | |
| 4 | MU | Micron Technology Inc | Stock-Tech | 7.18% | +4.41% | -6.67% | |
| 5 | META | Meta Platforms Inc-class A | Stock-Comm Services | 5.97% | +3.04% | +154.56% | |
| 6 | AAPL | Apple Inc | Stock-Tech | 5.04% | +3.65% | +291.36% | |
| 7 | INSM | Insmed Inc | Stock-Healthcare | 5.00% | -4.43% | — | |
| 8 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.74% | +2.95% | +163.64% | |
| 9 | NU | Nu Holdings Ltd. | Stock-Financials | 4.35% | -1.53% | -2.26% | |
| 10 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 4.18% | +1.24% | +23.53% | |
| 11 | XLV | Ss Health Care Select Sector | ETF-Other | 4.15% | +3.94% | +2160.00% | |
| 12 | GLD | Spdr Gold Shares | ETF-Commodities | 3.77% | +3.65% | +4320.00% | |
| 13 | EWY | Ishares Msci South Korea ETF | ETF-Other | 2.89% | +2.83% | +3333.33% | |
| 14 | IFS | Intercorp Financial Services Inc. | Stock-Other | 2.65% | -0.25% | — | |
| 15 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.93% | +1.85% | +2375.00% | |
| 16 | NVDA | Nvidia CORP | Stock-Tech | 1.70% | +0.59% | +64.29% | |
| 17 | BDX | Becton Dickinson And Co | Stock-Healthcare | 1.58% | -0.43% | — | |
| 18 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 1.56% | +1.56% | NEW | |
| 19 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.42% | +0.42% | -18.18% | |
| 20 | RTX | Rtx CORP | Stock-Industrials | 1.11% | +0.42% | +100.00% | |
| 21 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.10% | +1.10% | NEW | |
| 22 | MSFT | Microsoft CORP | Stock-Tech | 1.08% | -5.05% | -78.53% | |
| 23 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.96% | -0.07% | — | |
| 24 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.83% | -0.09% | — | |
| 25 | FIGR | Figure Technology Solut-cl A | Stock-Other | 0.83% | +0.08% | +50.00% | |
| 26 | NOC | Northrop Grumman CORP | Stock-Industrials | 0.73% | -0.10% | +44.65% | |
| 27 | ORCL | Oracle CORP | Stock-Tech | 0.68% | -0.16% | — | |
| 28 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.64% | -0.29% | — | |
| 29 | WMT | Walmart Inc | Stock-Consumer Staples | 0.63% | -0.22% | — | |
| 30 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.53% | -0.06% | — | |
| 31 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 0.53% | +0.20% | — | |
| 32 | INDA | Ishares Msci India ETF | ETF-Other | 0.48% | -0.08% | — | |
| 33 | ABVX | Abivax Sa-adr | Stock-Other | 0.44% | +0.44% | NEW | |
| 34 | COGT | Cogent Biosciences Inc | Stock-Other | 0.43% | -0.10% | — | |
| 35 | WAT | Waters CORP | Stock-Healthcare | 0.34% | +0.01% | — | |
| 36 | GGAL | Grupo Financiero Galicia-adr | Stock-Other | 0.23% | -0.03% | — | |
| 37 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.22% | +0.22% | NEW | |
| 38 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 0.20% | -0.12% | — | |
| 39 | SLV | Ishares Silver Trust | ETF-Commodities | 0.16% | -0.09% | — | |
| 40 | NEM | Newmont CORP | Stock-Materials | 0.10% | +0.10% | NEW | |
| 41 | VST | Vistra CORP | Stock-Utilities | 0.09% | +0.09% | NEW | |
| 42 | JLL | Jones Lang Lasalle Inc | Stock-Real Estate | 0.09% | +0.09% | NEW | |
| 43 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.09% | +0.09% | NEW | |
| 44 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.08% | -4.10% | -99.80% | |
| 45 | TEVA | Teva Pharmaceutical-sp Adr | Stock-Healthcare | 0.06% | -3.48% | -98.06% | |
| 46 | TMUS | T-mobile US Inc | Stock-Comm Services | 0.06% | -0.04% | — | |
| 47 | BBAR | Bbva Argentina Sa-adr | Stock-Other | 0.06% | — | — | |
| 48 | ETHA | Ishares Ethereum Trust ETF | ETF-Other | 0.05% | -0.04% | — | |
| 49 | ARGT | Global X Msci Argentina ETF | ETF-Other | 0.04% | -0.01% | — | |
| 50 | ALLO | Allogene Therapeutics Inc | Stock-Other | 0.01% | — | — |
Portfolio Performance
Performance for Q3 2026
+5.2%
Performance Last 4 Quarters
+33.3%
- Stdev
- +17.7%
- Beta
- +1
- Alpha
- +4.8%
- Max Drawdown
- -11.5%
- Annualized Perf
- +20.2%
- Batting Avg vs S&P
- +48.1%
- Sortino
- +2.28
- Stutzer
- +0.34
- Treynor
- +0.2
- Sterling
- +1.06
- Calmar
- +1.76
- Information Ratio
- +0.46
- Tracking Error
- +10.5%
- Stdev Down
- +8.8%
- Winning Months %
- +59.3%
- Losing Months %
- +40.7%
- Best 12 Months
- +38.7%
- Worst 12 Months
- +3.7%
- Efficiency Ratio
- +0.4
- Sharpe
- +1.13
- Stdev Sectors
- +12.1%
- Skewness
- +0.05
- Kurtosis
- -1.26
- Upside Potential
- +4.37
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 55 | $2.2B | 86 | ||
| 2026 Q1 | 52 | $1.8B | 56 | ||
| 2025 Q4 | 57 | $2.2B | 73 | ||
| 2025 Q3 | 66 | $1.9B | 99 | ||
| 2025 Q2 | 56 | $1.9B | 100 | ||
| 2025 Q1 | 46 | $796.1M | 100 | ||
| 2024 Q4 | 55 | $2.3B | 0 | ||
| 2024 Q3 | 46 | $3.8B | 0 | ||
| 2024 Q2 | 41 | $2.7B | 0 | ||
| 2024 Q1 | 52 | $3.3B | 0 | ||
| 2023 Q4 | 53 | $4.0B | 0 | ||
| 2023 Q3 | 51 | $2.1B | 0 | ||
| 2023 Q2 | 43 | $556.5M | 0 | ||
| 2023 Q1 | 45 | $908.0M | 0 | ||
| 2022 Q4 | 41 | $452.3M | 0 | ||
| 2022 Q3 | 44 | $570.0M | 0 | ||
| 2022 Q2 | 56 | $1.7B | 0 | ||
| 2022 Q1 | 44 | $873.2M | 0 | ||
| 2021 Q4 | 49 | $1.5B | 0 | ||
| 2021 Q3 | 46 | $1.6B | 0 | ||
| 2021 Q2 | 52 | $1.6B | 85 | ||
| 2021 Q1 | 49 | $1.2B | 61 | ||
| 2020 Q4 | 43 | $1.0B | 96 | ||
| 2020 Q3 | 38 | $1.2B | 71 | ||
| 2020 Q2 | 44 | $1.3B | 72 | ||
| 2020 Q1 | 35 | $1.2B | 100 | ||
| 2019 Q4 | 49 | $2.4B | 92 | ||
| 2019 Q3 | 42 | $1.6B | 83 | ||
| 2019 Q2 | 39 | $1.2B | 100 | ||
| 2019 Q1 | 46 | $3.8B | 91 | ||
| 2018 Q4 | 40 | $1.9B | 68 | ||
| 2018 Q3 | 31 | $1.4B | 100 | ||
| 2018 Q2 | 26 | $890.1M | 80 | ||
| 2018 Q1 | 27 | $1.2B | 67 | ||
| 2017 Q4 | 37 | $953.4M | 72 | ||
| 2017 Q3 | 37 | $1.0B | 91 | ||
| 2017 Q2 | 36 | $864.1M | 87 | ||
| 2017 Q1 | 34 | $1.3B | 69 | ||
| 2016 Q4 | 41 | $1.2B | 72 | ||
| 2016 Q3 | 31 | $954.4M | 84 | ||
| 2016 Q2 | 29 | $1.2B | 96 | ||
| 2016 Q1 | 39 | $1.6B | 64 | ||
| 2015 Q4 | 40 | $1.0B | 80 | ||
| 2015 Q3 | 36 | $647.2M | 43 | ||
| 2015 Q2 | 39 | $700.3M | 44 | ||
| 2015 Q1 | 35 | $799.7M | 45 | ||
| 2014 Q4 | 29 | $692.4M | 100 | ||
| 2014 Q3 | 27 | $1.0B | 100 | ||
| 2014 Q2 | 22 | $431.7M | 91 | ||
| 2014 Q1 | 20 | $326.7M | 73 | ||
| 2013 Q4 | 22 | $558.0M | 51 | ||
| 2013 Q3 | 22 | $625.0M | 66 | ||
| 2013 Q2 | 16 | $674.8M | 0 |
Holding changes this quarter
Nwi Management LP's most significant position changes for 2026-06-30: Sold out: Ishares Msci Brazil ETF (EWZ); New buy: Revolution Medicines Inc (RVMD); Sold out: Arm Holdings Plc-adr (ARM); Sold out: Kranesh Csi China Internet (KWEB); New buy: NewAmsterdam Pharma Company N.V. (NAMS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SMH | Vaneck Semiconductor ETF | +9.1% | +10000.00% | Add |
| 2 | MU | Micron Technology Inc | +4.4% | -6.67% | Trim |
| 3 | XLV | Ss Health Care Select Sector | +3.9% | +2160.00% | Add |
| 4 | AAPL | Apple Inc | +3.7% | +291.36% | Add |
| 5 | GLD | Spdr Gold Shares | +3.7% | +4320.00% | Add |
| 6 | META | Meta Platforms Inc-class A | +3% | +154.56% | Add |
| 7 | GOOG | Alphabet Inc-cl C | +3% | +163.64% | Add |
| 8 | EWY | Ishares Msci South Korea ETF | +2.8% | +3333.33% | Add |
| 9 | TSLA | Tesla Inc | +1.9% | +2375.00% | Add |
| 10 | RVMD | Revolution Medicines Inc | +1.6% | NEW | New buy |
| 11 | TSM | Taiwan Semiconductor-sp Adr | +1.2% | +23.53% | Add |
| 12 | NAMS | NewAmsterdam Pharma Company N.V. | +1.1% | NEW | New buy |
| 13 | NTRA | Natera Inc | +0.9% | — | Unchanged |
| 14 | NVDA | Nvidia CORP | +0.6% | +64.29% | Add |
| 15 | ABVX | Abivax Sa-adr | +0.4% | NEW | New buy |
| 16 | PANW | Palo Alto Networks Inc | +0.4% | -18.18% | Trim |
| 17 | RTX | Rtx CORP | +0.4% | +100.00% | Add |
| 18 | AZN | AstraZeneca PLC | +0.2% | NEW | New buy |
| 19 | CRWD | Crowdstrike Holdings Inc - A | +0.2% | — | Unchanged |
| 20 | NEM | Newmont CORP | +0.1% | NEW | New buy |
| 21 | VST | Vistra CORP | +0.1% | NEW | New buy |
| 22 | JLL | Jones Lang Lasalle Inc | +0.1% | NEW | New buy |
| 23 | MCD | Mcdonald's CORP | +0.1% | NEW | New buy |
| 24 | FIGR | Figure Technology Solut-cl A | +0.1% | +50.00% | Add |
| 25 | WAT | Waters CORP | 0% | — | Unchanged |
| 26 | BBAR | Bbva Argentina Sa-adr | — | — | Unchanged |
| 27 | ALLO | Allogene Therapeutics Inc | — | — | Unchanged |
| 28 | ARGT | Global X Msci Argentina ETF | 0% | — | Unchanged |
| 29 | GGAL | Grupo Financiero Galicia-adr | 0% | — | Unchanged |
| 30 | ETHA | Ishares Ethereum Trust ETF | 0% | — | Unchanged |
| 31 | TMUS | T-mobile US Inc | 0% | — | Unchanged |
| 32 | RSP | Invesco S&p 500 Equal Weight | -0.1% | — | Unchanged |
| 33 | AMZN | Amazon.com Inc | -0.1% | — | Unchanged |
| 34 | INDA | Ishares Msci India ETF | -0.1% | — | Unchanged |
| 35 | JPM | Jpmorgan Chase & Co | -0.1% | — | Unchanged |
| 36 | SLV | Ishares Silver Trust | -0.1% | — | Unchanged |
| 37 | NOC | Northrop Grumman CORP | -0.1% | +44.65% | Add |
| 38 | COGT | Cogent Biosciences Inc | -0.1% | — | Unchanged |
| 39 | BABA | Alibaba Group Holding-sp Adr | -0.1% | — | Unchanged |
| 40 | ORCL | Oracle CORP | -0.2% | — | Unchanged |
| 41 | STUB | Stubhub Holdings Inc-class A | -0.2% | EXIT | Sold out |
| 42 | KORU | Direxion Dly M Sk Bull 3x-ui | -0.2% | EXIT | Sold out |
| 43 | WMT | Walmart Inc | -0.2% | — | Unchanged |
| 44 | IFS | Intercorp Financial Services Inc. | -0.3% | — | Unchanged |
| 45 | AZNN | Astrazeneca Plc-spons Adr | -0.3% | EXIT | Sold out |
| 46 | LMT | Lockheed Martin CORP | -0.3% | — | Unchanged |
| 47 | BDX | Becton Dickinson And Co | -0.4% | — | Unchanged |
| 48 | KWEB | Kranesh Csi China Internet | -1.5% | EXIT | Sold out |
| 49 | NU | Nu Holdings Ltd. | -1.5% | -2.26% | Trim |
| 50 | ARM | Arm Holdings Plc-adr | -1.8% | EXIT | Sold out |
1–50 of 56
Filing History
FAQ
What is Nwi Management LP and what type of investor is it?
Nwi Management LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.2B, spread across 55 disclosed positions.
What are Nwi Management LP's largest equity positions?
Based on the latest 13F filing, Nwi Management LP's top holdings by market value are:
1. Invesco Qqq Trust Series 1 (QQQ) — $220.9M (10.2%)
2. Natera Inc (NTRA) — $207.0M (9.6%)
3. Vaneck Semiconductor ETF (SMH) — $198.7M (9.2%)
4. Micron Technology Inc (MU) — $155.1M (7.2%)
5. Meta Platforms Inc-class A (META) — $129.0M (6.0%)
What changes did Nwi Management LP make in its most recent portfolio filing?
In the latest reported quarter, Nwi Management LP made 34 notable position adjustments: 8 new positions were initiated, 13 existing holdings were added to, 7 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Ishares Msci Brazil ETF (EWZ); New buy: Revolution Medicines Inc (RVMD); Sold out: Arm Holdings Plc-adr (ARM); Sold out: Kranesh Csi China Internet (KWEB); New buy: NewAmsterdam Pharma Company N.V. (NAMS)
What sectors does Nwi Management LP focus on?
Nwi Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 34.8%
• Health Care: 29.4%
• Communication Services: 17.2%
• Financials: 8.3%
• Consumer Discretionary: 5.1%
• Industrials: 4.0%
Investment Profile
Nwi Management LP returned an annualized 20.2% over the trailing 27 months — outperforming the S&P 500 by 4.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.00 (roughly in line with the market) and a 48% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 34.8% of the portfolio concentrated in Information Technology.
It has added to its SMH position over the past two quarters (+$197.7M, now $198.7M), while trimming QQQ over the same stretch (-$181.6M, still holding $220.9M).
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Developer Access
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