NWI MANAGEMENT LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	655,200	$402	18.5%	$0.61	—	UNIT SER 1	46090E103
MSFT	MICROSOFT CORP	180,000	$87	4.0%	$446.56	+12.1%	CALL	594918104
FCX	FREEPORT-MCMORAN INC	999,300	$51	2.3%	—	—	CALL	35671D857
TSM	TAIWAN SEMICONDUCTOR MFG LTD	153,000	$46	2.1%	$0.30	—	SPONSORED ADS	874039100
AVGO	BROADCOM INC	81,000	$28	1.3%	$357.00	0.0%	COM	11135F101
FLR	FLUOR CORP NEW	500,000	$20	0.9%	$44.24	0.0%	COM	343412102
ORCL	ORACLE CORP	100,000	$19	0.9%	$238.05	0.0%	COM	68389X105
RSP	INVESCO EXCHANGE TRADED FD T	54,000	$10	0.5%	$0.19	—	S&P500 EQL WGT	46137V357
COGT	COGENT BIOSCIENCES INC	241,671	$9	0.4%	$28.11	0.0%	COM	19240Q201
ETHA	ISHARES ETHEREUM TR	99,000	$2	0.1%	$0.02	—	SHS	46438R105

Increased Positions (9)

XLV SELECT SECTOR SPDR TR 2.9%

Value ($000) $63 (+1707.8%) Shares 406,300 (+1525.2%) Est. Cost $0.15 Unrealized —

AMZN AMAZON COM INC 5.1%

Value ($000) $111 (+68.2%) Shares 480,000 (+60.0%) Est. Cost $227.91 Unrealized +0.4%

MSFT MICROSOFT CORP 3.3%

Value ($000) $71 (+140.5%) Shares 147,100 (+157.6%) Est. Cost $446.56 Unrealized +12.1%

NU NU HLDGS LTD 5.4%

Value ($000) $117 (+22.0%) Shares 7,000,000 (+16.7%) Est. Cost $12.96 Unrealized +24.0%

AMZN AMAZON COM INC 0.9%

Value ($000) $20 (+190.4%) Shares 87,000 (+176.2%) Est. Cost $227.91 Unrealized +0.4%

FIGR FIGURE TECHNOLOGY SOLUTIO 0.8%

Value ($000) $17 (+120.8%) Shares 407,044 (+96.6%) Est. Cost $39.41 Unrealized +1.5%

SLV ISHARES SILVER TR 0.4%

Value ($000) $8 (+660.3%) Shares 125,000 (+400.0%) Est. Cost $0.06 Unrealized —

LLY ELI LILLY & CO 1.2%

Value ($000) $26 (+20.7%) Shares 703,500 (+2368.4%) Est. Cost $948.27 Unrealized +0.8%

META META PLATFORMS INC 1.1%

Value ($000) $24 (+19.8%) Shares 36,000 (+33.3%) Est. Cost $549.91 Unrealized +21.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLV	SELECT SECTOR SPDR TR	406,300 (+1525.2%)	$63 (+1707.8%)	2.9%	$0.15	—	SBI HEALTHCARE	81369Y209
AMZN	AMAZON COM INC	480,000 (+60.0%)	$111 (+68.2%)	5.1%	$227.91	+0.4%	CALL	023135106
MSFT	MICROSOFT CORP	147,100 (+157.6%)	$71 (+140.5%)	3.3%	$446.56	+12.1%	COM	594918104
NU	NU HLDGS LTD	7,000,000 (+16.7%)	$117 (+22.0%)	5.4%	$12.96	+24.0%	CALL	G6683N103
AMZN	AMAZON COM INC	87,000 (+176.2%)	$20 (+190.4%)	0.9%	$227.91	+0.4%	COM	023135106
FIGR	FIGURE TECHNOLOGY SOLUTIO	407,044 (+96.6%)	$17 (+120.8%)	0.8%	$39.41	+1.5%	COM CL A	349381103
SLV	ISHARES SILVER TR	125,000 (+400.0%)	$8 (+660.3%)	0.4%	$0.06	—	ISHARES	46428Q109
LLY	ELI LILLY & CO	703,500 (+2368.4%)	$26 (+20.7%)	1.2%	$948.27	+0.8%	COM	532457108
META	META PLATFORMS INC	36,000 (+33.3%)	$24 (+19.8%)	1.1%	$549.91	+21.4%	CL A	30303M102

Exited Positions (20)

IWM ISHARES TR 11.1%

Value ($000) $242 Shares 1,000,000 Est. Cost — Unrealized —

XLV SELECT SECTOR SPDR TR 3.5%

Value ($000) $75 Shares 540,000 Est. Cost $0.15 Unrealized —

IBIT ISHARES BITCOIN TR 3.0%

Value ($000) $65 Shares 1,000,000 Est. Cost $0.07 Unrealized —

IBIT ISHARES BITCOIN TR 3.0%

Value ($000) $65 Shares 1,000,000 Est. Cost $0.07 Unrealized —

SLV ISHARES SILVER TR 1.9%

Value ($000) $42 Shares 979,700 Est. Cost $0.06 Unrealized —

ARM ARM HOLDINGS PLC 1.6%

Value ($000) $35 Shares 250,000 Est. Cost $0.13 Unrealized —

INDA ISHARES TR 1.4%

Value ($000) $30 Shares 566,900 Est. Cost $0.05 Unrealized —

— VERONA PHARMA PLC 0.7%

Value ($000) $14 Shares 135,000 Est. Cost $0.09 Unrealized —

DOCU DOCUSIGN INC 0.6%

Value ($000) $12 Shares 170,800 Est. Cost $77.06 Unrealized -10.3%

DOCU DOCUSIGN INC 0.3%

Value ($000) $6 Shares 85,400 Est. Cost $77.06 Unrealized -10.3%

ALTS ALT5 SIGMA CORP 0.2%

Value ($000) $5 Shares 1,800,000 Est. Cost $5.99 Unrealized -67.8%

MRVL MARVELL TECHNOLOGY INC 0.2%

Value ($000) $4 Shares 45,000 Est. Cost $96.69 Unrealized -9.5%

XLE SELECT SECTOR SPDR TR 0.1%

Value ($000) $1 Shares 16,000 Est. Cost $1.53 Unrealized —

XLF SELECT SECTOR SPDR TR 0.1%

Value ($000) $1 Shares 26,000 Est. Cost $0.03 Unrealized —

IBB ISHARES TR 0.0%

Value ($000) $1 Shares 6,500 Est. Cost $152.63 Unrealized —

OXY OCCIDENTAL PETE CORP 0.0%

Value ($000) $1 Shares 15,000 Est. Cost $59.16 Unrealized -29.8%

XMTR XOMETRY INC 0.0%

Value ($000) $0 Shares 5,000 Est. Cost $43.39 Unrealized +29.9%

ACM AECOM 0.0%

Value ($000) $0 Shares 2,000 Est. Cost $120.14 Unrealized -2.4%

ZM ZOOM VIDEO COMMUNICATIONS IN 0.0%

Value ($000) $0 Shares 3,000 Est. Cost $78.02 Unrealized +7.9%

ZBRA ZEBRA TECHNOLOGIES CORPORATI 0.0%

Value ($000) $0 Shares 825 Est. Cost $319.44 Unrealized -16.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	1,000,000	$242	11.1%	—	—	PUT	464287655
XLV	SELECT SECTOR SPDR TR	540,000	$75	3.5%	$0.15	—	CALL	81369Y209
IBIT	ISHARES BITCOIN TR	1,000,000	$65	3.0%	$0.07	—	CALL	46438F101
IBIT	ISHARES BITCOIN TR	1,000,000	$65	3.0%	$0.07	—	—	46438F101
SLV	ISHARES SILVER TR	979,700	$42	1.9%	$0.06	—	CALL	46428Q109
ARM	ARM HOLDINGS PLC	250,000	$35	1.6%	$0.13	—	CALL	042068205
INDA	ISHARES TR	566,900	$30	1.4%	$0.05	—	CALL	46429B598
—	VERONA PHARMA PLC	135,000	$14	0.7%	$0.09	—	—	925050106
DOCU	DOCUSIGN INC	170,800	$12	0.6%	$77.06	-10.3%	CALL	256163106
DOCU	DOCUSIGN INC	85,400	$6	0.3%	$77.06	-10.3%	—	256163106
ALTS	ALT5 SIGMA CORP	1,800,000	$5	0.2%	$5.99	-67.8%	—	47089W104
MRVL	MARVELL TECHNOLOGY INC	45,000	$4	0.2%	$96.69	-9.5%	—	573874104
XLE	SELECT SECTOR SPDR TR	16,000	$1	0.1%	$1.53	—	—	81369Y506
XLF	SELECT SECTOR SPDR TR	26,000	$1	0.1%	$0.03	—	—	81369Y605
IBB	ISHARES TR	6,500	$1	0.0%	$152.63	—	—	464287556
OXY	OCCIDENTAL PETE CORP	15,000	$1	0.0%	$59.16	-29.8%	—	674599105
XMTR	XOMETRY INC	5,000	$0	0.0%	$43.39	+29.9%	—	98423F109
ACM	AECOM	2,000	$0	0.0%	$120.14	-2.4%	—	00766T100
ZM	ZOOM VIDEO COMMUNICATIONS IN	3,000	$0	0.0%	$78.02	+7.9%	—	98980L101
ZBRA	ZEBRA TECHNOLOGIES CORPORATI	825	$0	0.0%	$319.44	-16.3%	—	989207105

Decreased Positions (8)

NTRA NATERA INC 8.0%

Value ($000) $175 (+30.7%) Shares 762,603 (-8.2%) Est. Cost $127.00 Unrealized +64.2%

NTRA NATERA INC 0.7%

Value ($000) $16 (-64.0%) Shares 67,700 (-74.7%) Est. Cost $127.00 Unrealized +64.2%

NU NU HLDGS LTD 1.7%

Value ($000) $37 (-42.5%) Shares 2,201,400 (-45.0%) Est. Cost $12.96 Unrealized +24.0%

INSM INSMED INC 7.9%

Value ($000) $172 (+17.0%) Shares 988,460 (-3.2%) Est. Cost $89.00 Unrealized +105.0%

YPF YPF SOCIEDAD ANONIMA 0.4%

Value ($000) $8 (-68.8%) Shares 226,475 (-79.0%) Est. Cost $0.03 Unrealized —

ARM ARM HOLDINGS PLC 1.0%

Value ($000) $23 (-29.0%) Shares 206,730 (-8.1%) Est. Cost $0.13 Unrealized —

WDAY WORKDAY INC 0.4%

Value ($000) $10 (-16.4%) Shares 45,000 (-6.3%) Est. Cost $166.31 Unrealized +36.6%

JPM JPMORGAN CHASE & CO. 0.8%

Value ($000) $18 (+0.3%) Shares 55,000 (-1.8%) Est. Cost $81.74 Unrealized +278.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NTRA	NATERA INC	762,603 (-8.2%)	$175 (+30.7%)	8.0%	$127.00	+64.2%	COM	632307104
NTRA	NATERA INC	67,700 (-74.7%)	$16 (-64.0%)	0.7%	$127.00	+64.2%	CALL	632307104
NU	NU HLDGS LTD	2,201,400 (-45.0%)	$37 (-42.5%)	1.7%	$12.96	+24.0%	ORD SHS CL A	G6683N103
INSM	INSMED INC	988,460 (-3.2%)	$172 (+17.0%)	7.9%	$89.00	+105.0%	COM PAR $.01	457669307
YPF	YPF SOCIEDAD ANONIMA	226,475 (-79.0%)	$8 (-68.8%)	0.4%	$0.03	—	SPON ADR CL D	984245100
ARM	ARM HOLDINGS PLC	206,730 (-8.1%)	$23 (-29.0%)	1.0%	$0.13	—	SPONSORED ADS	042068205
WDAY	WORKDAY INC	45,000 (-6.3%)	$10 (-16.4%)	0.4%	$166.31	+36.6%	CL A	98138H101
JPM	JPMORGAN CHASE & CO.	55,000 (-1.8%)	$18 (+0.3%)	0.8%	$81.74	+278.7%	COM	46625H100

Unchanged Positions (29)

TEVA TEVA PHARMACEUTICAL INDS LTD 3.0%

Value ($000) $64 Shares 2,065,000 Est. Cost $0.02 Unrealized —

MU MICRON TECHNOLOGY INC 1.9%

Value ($000) $41 Shares 144,000 Est. Cost $48.49 Unrealized +373.0%

MELI MERCADOLIBRE INC 4.0%

Value ($000) $86 Shares 42,700 Est. Cost $1947.25 Unrealized +7.9%

MELI MERCADOLIBRE INC 2.3%

Value ($000) $50 Shares 24,800 Est. Cost $1947.25 Unrealized +7.9%

GOOG ALPHABET INC 1.6%

Value ($000) $35 Shares 110,000 Est. Cost $153.56 Unrealized +86.5%

YPF YPF SOCIEDAD ANONIMA 0.8%

Value ($000) $18 Shares 500,400 Est. Cost $0.03 Unrealized —

GGAL GRUPO FINANCIERO GALICIA S.A 0.2%

Value ($000) $5 Shares 99,312 Est. Cost $0.05 Unrealized —

IFS INTERCORP FINL SVCS INC 2.0%

Value ($000) $43 Shares 1,022,210 Est. Cost $40.19 Unrealized +2.3%

PANW PALO ALTO NETWORKS INC 0.9%

Value ($000) $20 Shares 110,000 Est. Cost $129.56 Unrealized +55.7%

AAPL APPLE INC 1.2%

Value ($000) $26 Shares 96,100 Est. Cost $194.33 Unrealized +38.1%

STUB STUBHUB HLDGS INC 0.3%

Value ($000) $7 Shares 500,000 Est. Cost $18.34 Unrealized -14.3%

BABA ALIBABA GROUP HLDG LTD 0.3%

Value ($000) $7 Shares 45,000 Est. Cost $29.64 Unrealized —

RTX RTX CORPORATION 0.5%

Value ($000) $12 Shares 63,000 Est. Cost $154.28 Unrealized +12.3%

WMT WALMART INC 0.6%

Value ($000) $13 Shares 120,000 Est. Cost $51.13 Unrealized +109.7%

AZN ASTRAZENECA PLC 0.2%

Value ($000) $5 Shares 50,000 Est. Cost $60.71 Unrealized —

BBAR BANCO BBVA ARGENTINA S A 0.1%

Value ($000) $1 Shares 63,000 Est. Cost $0.02 Unrealized —

PYPL PAYPAL HLDGS INC 0.2%

Value ($000) $4 Shares 70,300 Est. Cost — Unrealized —

LMT LOCKHEED MARTIN CORP 0.6%

Value ($000) $13 Shares 27,000 Est. Cost $448.15 Unrealized +6.3%

INDA ISHARES TR 0.5%

Value ($000) $11 Shares 210,000 Est. Cost $0.05 Unrealized —

ASHR DBX ETF TR 3.8%

Value ($000) $82 Shares 2,500,000 Est. Cost — Unrealized —

CRWD CROWDSTRIKE HLDGS INC 0.3%

Value ($000) $7 Shares 15,000 Est. Cost $306.18 Unrealized +66.3%

NET CLOUDFLARE INC 0.2%

Value ($000) $4 Shares 18,000 Est. Cost $86.81 Unrealized +143.7%

TMUS T-MOBILE US INC 0.1%

Value ($000) $2 Shares 8,000 Est. Cost $107.14 Unrealized +97.2%

GLD SPDR GOLD TR 0.1%

Value ($000) $2 Shares 5,000 Est. Cost $0.19 Unrealized —

ARGT GLOBAL X FDS 0.0%

Value ($000) $1 Shares 8,900 Est. Cost $0.07 Unrealized —

SMH VANECK ETF TRUST 0.0%

Value ($000) $1 Shares 3,000 Est. Cost $0.28 Unrealized —

TSLA TESLA INC 0.1%

Value ($000) $2 Shares 4,000 Est. Cost $279.84 Unrealized +58.4%

ALLO ALLOGENE THERAPEUTICS INC 0.0%

Value ($000) $0 Shares 100,000 Est. Cost $1.33 Unrealized -0.7%

NVDA NVIDIA CORPORATION 1.0%

Value ($000) $21 Shares 112,000 Est. Cost $126.03 Unrealized +47.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TEVA	TEVA PHARMACEUTICAL INDS LTD	2,065,000	$64	3.0%	$0.02	—	SPONSORED ADS	881624209
MU	MICRON TECHNOLOGY INC	144,000	$41	1.9%	$48.49	+373.0%	COM	595112103
MELI	MERCADOLIBRE INC	42,700	$86	4.0%	$1947.25	+7.9%	COM	58733R102
MELI	MERCADOLIBRE INC	24,800	$50	2.3%	$1947.25	+7.9%	CALL	58733R102
GOOG	ALPHABET INC	110,000	$35	1.6%	$153.56	+86.5%	CAP STK CL C	02079K107
YPF	YPF SOCIEDAD ANONIMA	500,400	$18	0.8%	$0.03	—	CALL	984245100
GGAL	GRUPO FINANCIERO GALICIA S.A	99,312	$5	0.2%	$0.05	—	SPONSORED ADR	399909100
IFS	INTERCORP FINL SVCS INC	1,022,210	$43	2.0%	$40.19	+2.3%	SHS	P5626F128
PANW	PALO ALTO NETWORKS INC	110,000	$20	0.9%	$129.56	+55.7%	COM	697435105
AAPL	APPLE INC	96,100	$26	1.2%	$194.33	+38.1%	COM	037833100
STUB	STUBHUB HLDGS INC	500,000	$7	0.3%	$18.34	-14.3%	CL A	86384P109
BABA	ALIBABA GROUP HLDG LTD	45,000	$7	0.3%	$29.64	—	SPONSORED ADS	01609W102
RTX	RTX CORPORATION	63,000	$12	0.5%	$154.28	+12.3%	COM	75513E101
WMT	WALMART INC	120,000	$13	0.6%	$51.13	+109.7%	COM	931142103
AZN	ASTRAZENECA PLC	50,000	$5	0.2%	$60.71	—	SPONSORED ADR	046353108
BBAR	BANCO BBVA ARGENTINA S A	63,000	$1	0.1%	$0.02	—	SPONSORED ADS	058934100
PYPL	PAYPAL HLDGS INC	70,300	$4	0.2%	—	—	CALL	70450Y103
LMT	LOCKHEED MARTIN CORP	27,000	$13	0.6%	$448.15	+6.3%	COM	539830109
INDA	ISHARES TR	210,000	$11	0.5%	$0.05	—	MSCI INDIA ETF	46429B598
ASHR	DBX ETF TR	2,500,000	$82	3.8%	—	—	CALL	233051879
CRWD	CROWDSTRIKE HLDGS INC	15,000	$7	0.3%	$306.18	+66.3%	CL A	22788C105
NET	CLOUDFLARE INC	18,000	$4	0.2%	$86.81	+143.7%	CL A COM	18915M107
TMUS	T-MOBILE US INC	8,000	$2	0.1%	$107.14	+97.2%	COM	872590104
GLD	SPDR GOLD TR	5,000	$2	0.1%	$0.19	—	GOLD SHS	78463V107
ARGT	GLOBAL X FDS	8,900	$1	0.0%	$0.07	—	GB MSCI AR ETF	37950E259
SMH	VANECK ETF TRUST	3,000	$1	0.0%	$0.28	—	SEMICONDUCTR ETF	92189F676
TSLA	TESLA INC	4,000	$2	0.1%	$279.84	+58.4%	COM	88160R101
ALLO	ALLOGENE THERAPEUTICS INC	100,000	$0	0.0%	$1.33	-0.7%	COM	019770106
NVDA	NVIDIA CORPORATION	112,000	$21	1.0%	$126.03	+47.7%	COM	67066G104