SI
SWP Investment Management LLC SEC 13F Filing (Q2 2026) — Holdings & Portfolio
SWP Investment Management LLCCIK: 0002098300
ContrarianDiversified strategyQuality / disciplined sizing
Total reported value
$144.8M
Reporting period: 2026-06-30 · Number of holdings: 43
SWP Investment Management LLC disclosed 43 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $144.8M and a quarterly turnover rate of 67.5%.
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Personality snowflake
- Concentration
- 10.49
- Portfolio Stability
- 67.53
- Momentum
- 0
- Sector conviction
- 58.77
- Diversification
- 86
- Sizing Uniformity
- 96.38
SWP Investment Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 38 equally-sized positions, close to its 43 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.36), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
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 64% 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.govSold out STM
Sold out TOL
New buy RRR
New buy WMT
Sold out UPS
New buy PGR
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
SWP is rotating capital out of cyclical exposure (homebuilders, autos, logistics, semiconductors) and into defensive names (WMT, PGR, RRR), signaling a shift from growth-at-reasonable-price positioning to a more cautious, cash-flow-centric portfolio. This is not a broad de-grossing but a targeted capital rotation—they are not trimming their heavy IT and Financials weights, suggesting they see those sectors as still offering alpha, but they are capping downside by adding ballast. The goal appears to be preserving upside in high-conviction tech/finance holdings while hedging against a macro slowdown.
Macro & Fundamentals
SWP is pricing a late-cycle regime where inflation moderates but growth decelerates—hence the exit from rate-sensitive cyclicals (TOL, UPS, TM) and the embrace of recession-resistant cash flows (WMT, PGR). The overweight IT and Financials indicates they expect productivity gains from AI/adoption and stable net interest margins to persist. The opposing thesis is that the economy reaccelerates, leaving this portfolio underweight cyclical beta, or that a tech-led multiple compression crushes their core IT position.
Blind Spots / Risks
SWP's structural vulnerability is its large combined bet on Information Technology and Financials (over 55% of the portfolio) at a time when both sectors face crowding risks—tech from AI enthusiasm and Financials from net interest margin compression. The negative momentum tilt (-1.73) compounds this: they are likely holding tech names that have already been repriced downward, turning them into accidental value positions in a sector that demands growth, exposing them to multiple compression if the AI narrative falters.
This narrative is produced by AI from this institution's Form 13F filings, as disclosed on SEC EDGAR, and describes past activity only. It is informational, not investment advice. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 5.42% | +5.42% | +3.85% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.20% | +4.20% | +3.85% | |
| 3 | AVGO | Broadcom Inc | Stock-Tech | 4.11% | +4.11% | +3.82% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.77% | +3.77% | -17.02% | |
| 5 | IBM | Intl Business Machines CORP | Stock-Tech | 3.33% | +3.33% | +3.88% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.16% | +3.16% | +49.72% | |
| 7 | URI | United Rentals Inc | Stock-Industrials | 2.93% | +2.93% | +3.89% | |
| 8 | PM | Philip Morris International | Stock-Consumer Staples | 2.84% | +2.84% | +3.93% | |
| 9 | ORCL | Oracle CORP | Stock-Tech | 2.76% | +2.76% | +3.89% | |
| 10 | PLD | Prologis Inc | Stock-Real Estate | 2.74% | +2.74% | +3.91% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.72% | +2.72% | +3.80% | |
| 12 | C | Citigroup Inc | Stock-Financials | 2.45% | +2.45% | +3.93% | |
| 13 | GS | Goldman Sachs Group Inc | Stock-Financials | 2.43% | +2.43% | +3.57% | |
| 14 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.37% | +2.37% | +3.63% | |
| 15 | ABBV | Abbvie Inc | Stock-Healthcare | 2.33% | +2.33% | +3.87% | |
| 16 | AXP | American Express Co | Stock-Financials | 2.31% | +2.31% | +3.77% | |
| 17 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 2.31% | +2.31% | +3.85% | |
| 18 | EMR | Emerson Electric Co | Stock-Industrials | 2.30% | +2.30% | +3.93% | |
| 19 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 2.27% | +2.27% | +3.93% | |
| 20 | DAL | Delta Air Lines Inc | Stock-Industrials | 2.19% | +2.19% | +45.62% | |
| 21 | NEE | Nextera Energy Inc | Stock-Utilities | 2.17% | +2.17% | +3.88% | |
| 22 | RTX | Rtx CORP | Stock-Industrials | 2.15% | +2.15% | +3.92% | |
| 23 | BX | Blackstone Inc | Stock-Financials | 2.14% | +2.14% | +3.86% | |
| 24 | AZN | AstraZeneca PLC | Stock-Healthcare | 2.11% | +2.11% | +3.87% | |
| 25 | PNC | Pnc Financial Services Group | Stock-Financials | 2.00% | +2.00% | +3.88% | |
| 26 | COR | Cencora Inc | Stock-Healthcare | 1.97% | +1.97% | +3.93% | |
| 27 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.93% | +1.93% | +3471.59% | |
| 28 | RRR | Red Rock Resorts Inc-class A | Stock-Other | 1.92% | +1.92% | NEW | |
| 29 | BLK | Blackrock Inc | Stock-Financials | 1.92% | +1.92% | +3.59% | |
| 30 | FCX | Freeport-mcmoran Inc | Stock-Materials | 1.88% | +1.88% | +3.89% | |
| 31 | MDT | Medtronic plc | Stock-Healthcare | 1.86% | +1.86% | +3.93% | |
| 32 | UNP | Union Pacific CORP | Stock-Industrials | 1.83% | +1.83% | +3.85% | |
| 33 | WMT | Walmart Inc | Stock-Consumer Staples | 1.79% | +1.79% | NEW | |
| 34 | DRI | Darden Restaurants Inc | Stock-Consumer Disc | 1.75% | +1.75% | +3.89% | |
| 35 | PGR | Progressive CORP | Stock-Financials | 1.72% | +1.72% | NEW | |
| 36 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 1.71% | +1.71% | +45.71% | |
| 37 | BDX | Becton Dickinson And Co | Stock-Healthcare | 1.69% | +1.69% | +52.47% | |
| 38 | DKS | Dick's Sporting Goods Inc | Stock-Consumer Disc | 1.69% | +1.69% | +3.85% | |
| 39 | TPB | Turning Point Brands Inc | Stock-Other | 1.50% | +1.50% | NEW | |
| 40 | ENB | Enbridge Inc | Stock-Energy | 1.47% | +1.47% | +3.92% | |
| 41 | CCJ | Cameco CORP | Stock-Energy | 1.41% | +1.41% | +56.80% | |
| 42 | BKR | Baker Hughes Co | Stock-Energy | 1.34% | +1.34% | +3.87% | |
| 43 | CNQ | Canadian Natural Resources | Stock-Energy | 1.10% | +1.10% | +3.92% |
Portfolio Performance
Performance for Q3 2026
-0.2%
Performance Last 4 Quarters
+17.3%
- Stdev
- +12.6%
- Beta
- +1.01
- Alpha
- -0.8%
- Max Drawdown
- -6.3%
- Annualized Perf
- +23.8%
- Batting Avg vs S&P
- +40%
- Sortino
- +3.82
- Stutzer
- +0.52
- Treynor
- +0.22
- Sterling
- +1.46
- Calmar
- +3.8
- Information Ratio
- -0.21
- Tracking Error
- +3.3%
- Stdev Down
- +5.8%
- Winning Months %
- +73.3%
- Losing Months %
- +26.7%
- Best 12 Months
- +30.8%
- Worst 12 Months
- +17%
- Efficiency Ratio
- +0.66
- Sharpe
- +1.76
- Stdev Sectors
- +9.7%
- Skewness
- -0.04
- Kurtosis
- +0.72
- Upside Potential
- +5.1
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
SWP Investment Management LLC's most significant position changes for 2026-06-30: Sold out: Stmicroelectronics Nv-ny Shs (STM); Sold out: Toll Brothers Inc (TOL); New buy: Red Rock Resorts Inc-class A (RRR); New buy: Walmart Inc (WMT); Sold out: United Parcel Service-cl B (UPS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | STM | Stmicroelectronics Nv-ny Shs | — | EXIT | Sold out |
| 2 | TOL | Toll Brothers Inc | — | EXIT | Sold out |
| 3 | RRR | Red Rock Resorts Inc-class A | — | NEW | New buy |
| 4 | WMT | Walmart Inc | — | NEW | New buy |
| 5 | UPS | United Parcel Service-cl B | — | EXIT | Sold out |
| 6 | PGR | Progressive CORP | — | NEW | New buy |
| 7 | TM | Toyota Motor CORP -spon Adr | — | EXIT | Sold out |
| 8 | FLS | Flowserve CORP | — | EXIT | Sold out |
| 9 | SIMO | Silicon Motion Technol-adr | — | EXIT | Sold out |
| 10 | TPB | Turning Point Brands Inc | — | NEW | New buy |
| 11 | CRM | Salesforce Inc | — | EXIT | Sold out |
| 12 | DAL | Delta Air Lines Inc | — | +45.62% | Add |
| 13 | URI | United Rentals Inc | — | +3.89% | Add |
| 14 | META | Meta Platforms Inc-class A | — | +49.72% | Add |
| 15 | AVGO | Broadcom Inc | — | +3.82% | Add |
| 16 | TSM | Taiwan Semiconductor-sp Adr | — | +3.85% | Add |
| 17 | BKNG | Booking Holdings Inc | — | +3471.59% | Add |
| 18 | AAPL | Apple Inc | — | +3.85% | Add |
| 19 | LLY | Eli Lilly & Co | — | +3.63% | Add |
| 20 | IBM | Intl Business Machines CORP | — | +3.88% | Add |
| 21 | C | Citigroup Inc | — | +3.93% | Add |
| 22 | BDX | Becton Dickinson And Co | — | +52.47% | Add |
| 23 | DLR | Digital Realty Trust Inc | — | +45.71% | Add |
| 24 | GS | Goldman Sachs Group Inc | — | +3.57% | Add |
| 25 | CCJ | Cameco CORP | — | +56.80% | Add |
| 26 | ABBV | Abbvie Inc | — | +3.87% | Add |
| 27 | PNC | Pnc Financial Services Group | — | +3.88% | Add |
| 28 | JPM | Jpmorgan Chase & Co | — | +3.80% | Add |
| 29 | PM | Philip Morris International | — | +3.93% | Add |
| 30 | AXP | American Express Co | — | +3.77% | Add |
| 31 | EMR | Emerson Electric Co | — | +3.93% | Add |
| 32 | DKS | Dick's Sporting Goods Inc | — | +3.85% | Add |
| 33 | UNP | Union Pacific CORP | — | +3.85% | Add |
| 34 | MSFT | Microsoft CORP | — | +3.85% | Add |
| 35 | CNQ | Canadian Natural Resources | — | +3.92% | Add |
| 36 | FCX | Freeport-mcmoran Inc | — | +3.89% | Add |
| 37 | PLD | Prologis Inc | — | +3.91% | Add |
| 38 | DRI | Darden Restaurants Inc | — | +3.89% | Add |
| 39 | COR | Cencora Inc | — | +3.93% | Add |
| 40 | BX | Blackstone Inc | — | +3.86% | Add |
| 41 | MDT | Medtronic plc | — | +3.93% | Add |
| 42 | GOOGL | Alphabet Inc-cl A | — | -17.02% | Trim |
| 43 | ORCL | Oracle CORP | — | +3.89% | Add |
| 44 | BKR | Baker Hughes Co | — | +3.87% | Add |
| 45 | BLK | Blackrock Inc | — | +3.59% | Add |
| 46 | ENB | Enbridge Inc | — | +3.92% | Add |
| 47 | RTX | Rtx CORP | — | +3.92% | Add |
| 48 | NEE | Nextera Energy Inc | — | +3.88% | Add |
| 49 | TJX | Tjx Companies Inc | — | +3.93% | Add |
| 50 | AZN | AstraZeneca PLC | — | +3.87% | Add |
Filing History
FAQ
What is SWP Investment Management LLC and what type of investor is it?
SWP Investment Management LLC 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 $144.8M, spread across 43 disclosed positions.
What are SWP Investment Management LLC's largest equity positions?
Based on the latest 13F filing, SWP Investment Management LLC's top holdings by market value are:
1. Microsoft CORP (MSFT) — $7.8M (5.4%)
2. Apple Inc (AAPL) — $6.1M (4.2%)
3. Broadcom Inc (AVGO) — $6.0M (4.1%)
4. Alphabet Inc-cl A (GOOGL) — $5.5M (3.8%)
5. Intl Business Machines CORP (IBM) — $4.8M (3.3%)
What changes did SWP Investment Management LLC make in its most recent portfolio filing?
In the latest reported quarter, SWP Investment Management LLC made 50 notable position adjustments: 4 new positions were initiated, 38 existing holdings were added to, 1 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Stmicroelectronics Nv-ny Shs (STM); Sold out: Toll Brothers Inc (TOL); New buy: Red Rock Resorts Inc-class A (RRR); New buy: Walmart Inc (WMT); Sold out: United Parcel Service-cl B (UPS)
What sectors does SWP Investment Management LLC focus on?
SWP Investment Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 34.5%
• Financials: 21.1%
• Communication Services: 10.8%
• Health Care: 7.3%
• Consumer Staples: 7.2%
• Consumer Discretionary: 6.5%
Investment Profile
SWP Investment Management LLC returned an annualized 23.8% over the trailing 15 months — underperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.01 (roughly in line with the market) and a 40% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 34.5% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 68 over the past 4 quarters — a shift toward more active trading.
It has added to its URI position over the past two quarters (+$2.5M, now $4.2M), while trimming BKR over the same stretch (-$592.6K, still holding $1.9M).
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