CIK: 0001829231
Total reported value
$455.6M
Reporting period: 2026-03-31 · Number of holdings: 346
FWL INVESTMENT MANAGEMENT, LLC disclosed 346 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $455.6M and a quarterly turnover rate of 44.2%.
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Fwl Investment Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.030 — mathematically equivalent to about 34 equally-sized positions, well below its 346 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 3.04), 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 68% 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.
Trim ORCL
-99.8% -$12.1M
Trim ETN
-99.0% -$10.8M
Add LSTR
+523.7% $11.3M
Trim GEHC
-99.1% -$9.1M
Add LNG
+12.3% $10.7M
Add BIL
+68.2% $10.1M
Showing top 200 holdings (of 346 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LNG | Cheniere Energy INC | Stock-Energy | 6.04% | +2.00% | +12.32% | |
| 2 | AMLP | Alerian Mlp ETF | ETF-Other | 5.48% | +1.04% | +20.86% | |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 5.45% | +1.91% | +68.17% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.48% | -1.18% | -5.06% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 4.40% | +0.48% | +31.58% | |
| 6 | WMB | Williams Cos INC | Stock-Energy | 4.18% | +0.80% | +11.86% | |
| 7 | MDT | Medtronic plc | Stock-Healthcare | 3.92% | +1.47% | +94.61% | |
| 8 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 3.78% | -1.39% | -25.09% | |
| 9 | GLD | Spdr Gold Shares | ETF-Commodities | 3.71% | — | -10.99% | |
| 10 | ETR | Entergy CORP | Stock-Utilities | 3.50% | +1.20% | +37.38% | |
| 11 | MU | Micron Technology INC | Stock-Tech | 3.17% | -0.65% | -23.09% | |
| 12 | CCJ | Cameco CORP | Stock-Energy | 3.09% | — | -15.29% | |
| 13 | COPX | Global X Copper Miners ETF | ETF-Other | 3.08% | +0.37% | +17.13% | |
| 14 | MSFT | Microsoft CORP | Stock-Tech | 3.01% | -1.34% | -0.88% | |
| 15 | LSTR | Landstar System INC | Stock-Industrials | 2.90% | +2.44% | +523.67% | |
| 16 | CACI | Caci International INC -cl A | Stock-Tech | 2.76% | +0.10% | +11.30% | |
| 17 | IBN | Icici Bank Ltd-spon Adr | Stock-Financials | 2.26% | — | +15.57% | |
| 18 | AGNC | Agnc Investment CORP | Stock-Real Estate | 2.03% | -1.20% | -26.42% | |
| 19 | URI | United Rentals INC | Stock-Industrials | 1.59% | +1.58% | +17625.00% | |
| 20 | AAPL | Apple INC | Stock-Tech | 1.36% | -0.28% | -2.71% | |
| 21 | EWY | Ishares Msci South Korea ETF | ETF-Other | 1.31% | +0.33% | +16.52% | |
| 22 | QCOM | Qualcomm INC | Stock-Tech | 1.29% | +0.64% | +186.47% | |
| 23 | IREN | Iren LTD F | Stock-Other | 1.22% | -0.94% | -31.70% | |
| 24 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.13% | -0.31% | -5.16% | |
| 25 | NVT | nVent Electric plc | Stock-Industrials | 1.10% | +0.17% | +11.32% | |
| 26 | CRCL | Circle Internet Group INC | Stock-Financials | 1.09% | +1.09% | +1735333.33% | |
| 27 | KTOS | Kratos Defense & Security | Stock-Industrials | 1.05% | +0.30% | +64.19% | |
| 28 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.99% | — | +8.47% | |
| 29 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 0.98% | +0.73% | +331.34% | |
| 30 | TSLA | Tesla INC | Stock-Consumer Disc | 0.92% | — | +40.74% | |
| 31 | WMT | Walmart INC | Stock-Consumer Staples | 0.90% | — | -0.85% | |
| 32 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.85% | — | +0.27% | |
| 33 | APTV | Aptiv PLC | Stock-Consumer Disc | 0.78% | +0.78% | NEW | |
| 34 | URA | Global X Uranium ETF | ETF-Other | 0.70% | — | +8.01% | |
| 35 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.65% | — | -0.96% | |
| 36 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.58% | — | +9.14% | |
| 37 | CVX | Chevron CORP | Stock-Energy | 0.57% | +0.33% | +89.10% | |
| 38 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.55% | — | -1.90% | |
| 39 | V | Visa Inc-class A Shares | Stock-Financials | 0.49% | — | +38.79% | |
| 40 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.45% | — | -1.38% | |
| 41 | SIL | Global X Silver Miners ETF | ETF-Commodities | 0.42% | +0.35% | +507.19% | |
| 42 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.42% | -0.81% | -59.92% | |
| 43 | GD | General Dynamics CORP | Stock-Industrials | 0.41% | — | -0.15% | |
| 44 | GS | Goldman Sachs Group INC | Stock-Financials | 0.39% | — | +20.86% | |
| 45 | IAU | Ishares Gold Trust | ETF-Commodities | 0.37% | — | -23.54% | |
| 46 | QTEC | First Trust Nasdq 100 Tech I | ETF-Tech | 0.36% | — | +2.06% | |
| 47 | AMGN | Amgen INC | Stock-Healthcare | 0.35% | — | +0.53% | |
| 48 | APD | Air Products & Chemicals INC | Stock-Materials | 0.31% | — | -1.87% | |
| 49 | FPEI | First Trust Institutional Pr | ETF-Other | 0.31% | — | +3.06% | |
| 50 | MLPA | Global X Mlp ETF | ETF-Other | 0.29% | — | +14.15% |
Performance for Q3 2026
+2.7%
Performance Last 4 Quarters
+27%
Based on 71% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 346 | $455.6M | 44 | |
| 2025-12-31 | 365 | $415.7M | 25 | |
| 2025-09-30 | 332 | $383.6M | 53 | |
| 2025-06-30 | 325 | $326.8M | 0 | |
| 2025-03-31 | 291 | $269.2M | 100 | |
| 2024-12-31 | 309 | $274.8M | 0 | |
| 2024-09-30 | 298 | $261.1M | 0 | |
| 2024-06-30 | 247 | $198.3M | 0 | |
| 2024-03-31 | 242 | $181.5M | 0 | |
| 2023-12-31 | 250 | $171.6M | 0 | |
| 2023-09-30 | 195 | $149.0M | 0 | |
| 2023-06-30 | 50 | $146.5M | 0 | |
| 2023-03-31 | 74 | $135.7M | 0 | |
| 2022-12-31 | 195 | $132.0M | 0 | |
| 2022-09-30 | 65 | $113.1M | 0 | |
| 2022-06-30 | 43 | $137.8M | 0 | |
| 2022-03-31 | 45 | $161.9M | 0 | |
| 2021-12-31 | 51 | $163.7M | 0 | |
| 2021-09-30 | 47 | $159.0M | 0 | |
| 2021-06-30 | 49 | $164.7M | 95 | |
| 2021-03-31 | 46 | $148.5M | 38 | |
| 2020-12-31 | 48 | $130.6M | 0 |
Fwl Investment Management, LLC's most significant position changes for 2026-03-31: Sold out: Tempus Ai Inc-cl A (TEM); New buy: Aptiv PLC (APTV); Sold out: Cyberark Software LTD; New buy: Johnson & Johnson (JNJ); New buy: AstraZeneca PLC (AZN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LSTR | Landstar System INC | +2.4% | +523.67% | Add |
| 2 | LNG | Cheniere Energy INC | +2% | +12.32% | Add |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | +1.9% | +68.17% | Add |
| 4 | URI | United Rentals INC | +1.6% | +17625.00% | Add |
| 5 | MDT | Medtronic plc | +1.5% | +94.61% | Add |
| 6 | ETR | Entergy CORP | +1.2% | +37.38% | Add |
| 7 | CRCL | Circle Internet Group INC | +1.1% | +1735333.33% | Add |
| 8 | AMLP | Alerian Mlp ETF | +1% | +20.86% | Add |
| 9 | WMB | Williams Cos INC | +0.8% | +11.86% | Add |
| 10 | SHY | Ishares 1-3 Year Treasury Bo | +0.7% | +331.34% | Add |
| 11 | QCOM | Qualcomm INC | +0.6% | +186.47% | Add |
| 12 | NVDA | Nvidia CORP | +0.5% | +31.58% | Add |
| 13 | COPX | Global X Copper Miners ETF | +0.4% | +17.13% | Add |
| 14 | SIL | Global X Silver Miners ETF | +0.4% | +507.19% | Add |
| 15 | EWY | Ishares Msci South Korea ETF | +0.3% | +16.52% | Add |
| 16 | CVX | Chevron CORP | +0.3% | +89.10% | Add |
| 17 | KTOS | Kratos Defense & Security | +0.3% | +64.19% | Add |
| 18 | LLY | Eli Lilly & Co | +0.2% | +528.78% | Add |
| 19 | NVT | nVent Electric plc | +0.2% | +11.32% | Add |
| 20 | SLV | Ishares Silver Trust | +0.2% | +40068.97% | Add |
| 21 | PM | Philip Morris International | +0.2% | +3978.26% | Add |
| 22 | ABBV | Abbvie INC | +0.2% | +309.17% | Add |
| 23 | KO | Coca-cola Co/the | +0.2% | +3601.61% | Add |
| 24 | CAH | Cardinal Health INC | +0.1% | +7400.00% | Add |
| 25 | CACI | Caci International INC -cl A | +0.1% | +11.30% | Add |
| 26 | AAPL | Apple INC | -0.3% | -2.71% | Trim |
| 27 | AMZN | Amazon.com INC | -0.3% | -5.16% | Trim |
| 28 | META | Meta Platforms Inc-class A | -0.4% | -83.64% | Trim |
| 29 | HD | Home Depot INC | -0.5% | -74.82% | Trim |
| 30 | MU | Micron Technology INC | -0.7% | -23.09% | Trim |
| 31 | SCHW | Schwab (charles) CORP | -0.8% | -59.92% | Trim |
| 32 | IREN | Iren LTD F | -0.9% | -31.70% | Trim |
| 33 | VRT | Vertiv Holdings Co-a | -1% | -97.37% | Trim |
| 34 | GOOG | Alphabet Inc-cl C | -1.2% | -5.06% | Trim |
| 35 | AGNC | Agnc Investment CORP | -1.2% | -26.42% | Trim |
| 36 | MSFT | Microsoft CORP | -1.3% | -0.88% | Trim |
| 37 | GDX | Vaneck Gold Miners ETF | -1.4% | -25.09% | Trim |
| 38 | GEHC | GE Healthcare Technology | -2.2% | -99.08% | Trim |
| 39 | ETN | Eaton Corporation plc | -2.6% | -99.02% | Trim |
| 40 | ORCL | Oracle CORP | -2.9% | -99.84% | Trim |
| 41 | TEM | Tempus Ai Inc-cl A | — | EXIT | Sold out |
| 42 | APTV | Aptiv PLC | — | NEW | New buy |
| 43 | ✓ | Cyberark Software LTD | — | EXIT | Sold out |
| 44 | JNJ | Johnson & Johnson | — | NEW | New buy |
| 45 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 46 | AEP | American Electric Power | — | NEW | New buy |
| 47 | ROST | Ross Stores INC | — | NEW | New buy |
| 48 | DE | Deere & Co | — | NEW | New buy |
| 49 | SAP | Sap Se-sponsored Adr | — | NEW | New buy |
| 50 | WTW | Willis Towers Watson Public Limited Company | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-17 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-10 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-10 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-11 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-10 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-05 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-01-19 | 13F-HR | View on EDGAR |
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