FWL Investment Management, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), FWL Investment Management, LLC reported 239 stock positions worth $198.3 million. Its top holding was Vaneck Gold Miners ETF (GDX) at 5.7% of the portfolio, followed by Microsoft (MSFT, 5.5%) and Alphabet Class C (GOOG, 5.3%). Compared with Q1 2024, it opened 43 new positions, sold out of 33, added to 64 and reduced 48. The biggest buy was Oracle (ORCL, shares +569%) and the biggest sale iShares 20+ Year Treasury BD (TLT, shares −96%).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001829231
- Portfolio Value
- $198.3M (Q2 2024)
- SEC Filing
- 0001999371-24-010018 ↗ filed Aug 13, 2024
Holdings Value
Holdings 239 stocks · $198.3M
| GDX Vaneck Gold Miners ETF | 5.66% | 331,134 | $11.2M | Add +6.0% |
| MSFT Microsoft Corp. | 5.45% | 24,202 | $10.8M | Reduce -3.9% |
| GOOG Alphabet Inc. Class C | 5.30% | 57,317 | $10.5M | Reduce -4.8% |
| IHI iShares U.S. Medical Devices | 5.25% | 185,681 | $10.4M | Add +3.6% |
| XBI SS SPDR S&P Biotech ETF | 4.93% | 105,504 | $9.8M | Add +107.4% |
| IBN Icici Bank Ltd.-Spon ADR | 3.89% | 267,873 | $7.7M | Reduce -0.7% |
| AGNC AGNC Investment Corp. | 3.83% | 796,916 | $7.6M | Reduce -19.5% |
| INDA iShares MSCI India ETF | 3.73% | 132,706 | $7.4M | Add +139.5% |
| GLD SPDR Gold Shares | 3.62% | 33,436 | $7.2M | Reduce -0.6% |
| DDOG Datadog Inc. Class A | 3.39% | 51,866 | $6.7M | Reduce -2.6% |
| LNG Cheniere Energy Inc. | 3.24% | 36,789 | $6.4M | Add +6.2% |
| NVDA Nvidia Corp. | 3.16% | 50,789 | $6.3M | Add +207.3% |
| LMT Lockheed Martin Corp. | 3.16% | 13,402 | $6.3M | Add +4.1% |
| AMLP Alerian MLP ETF | 3.14% | 129,803 | $6.2M | Add +0.8% |
| CYBR Cyberark Software Ltd./Israel | 3.11% | 22,584 | $6.2M | Add +63.2% |
| QTEC First Trust Nasdq 100 Tech I | 3.07% | 30,827 | $6.1M | Reduce -32.2% |
| ORCL Oracle Corp. | 3.05% | 42,880 | $6.1M | Add +569.0% |
| WMB Williams Cos Inc. | 3.01% | 140,422 | $6.0M | Add +75.6% |
| EWJ iShares MSCI Japan ETF | 2.99% | 86,782 | $5.9M | Add +1.2% |
| ETN Eaton Corp. PLC | 2.85% | 18,015 | $5.6M | Add +7.4% |
| EOG EOG Resources Inc. | 2.76% | 43,500 | $5.5M | Add +14.1% |
| EMR Emerson Electric Co. | 2.21% | 39,705 | $4.4M | Add +21.9% |
| URA Global X Uranium ETF | 2.16% | 148,160 | $4.3M | Add +9.8% |
| QQQ Invesco QQQ Trust Series 1 | 2.10% | 8,706 | $4.2M | Add +3.4% |
| AAPL Apple Inc. | 2.02% | 19,017 | $4.0M | Add +2.0% |
| AMZN Amazon.com Inc. | 1.75% | 17,996 | $3.5M | Add +7.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.18% | 25,546 | $2.3M | Add +54.7% |
| IWF iShares Russell 1000 Growth | 0.71% | 3,875 | $1.4M | No change |
| GOOGL Alphabet Inc. Class A | 0.54% | 5,861 | $1.1M | Reduce -5.5% |
| IAU iShares Gold Trust | 0.53% | 23,800 | $1.0M | Reduce -26.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.50% | 2,441 | $993K | Add +7.3% |
| AMD Advanced Micro Devices | 0.45% | 5,532 | $897K | Reduce -39.2% |
| XLE SS Energy Select Sector | 0.30% | 6,515 | $594K | Reduce -8.5% |
| MRK Merck & Co. Inc. | 0.30% | 4,739 | $587K | Add +5.8% |
| COST Costco Wholesale Corp. | 0.27% | 625 | $531K | Add +20.2% |
| VRT Vertiv Holdings Co. Class A | 0.25% | 5,714 | $495K | Add +5.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.23% | 1,225 | $458K | No change |
| ITRI Itron Inc. | 0.21% | 4,230 | $419K | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 2,472 | $397K | Reduce -1.1% |
| KTOS Kratos Defense & Security | 0.20% | 19,532 | $391K | Add +34.9% |
| EDV Vanguard Extended Dur Treas | 0.17% | 4,717 | $346K | New |
| COWZ Pacer US Cash Cows 100 ETF | 0.17% | 6,032 | $329K | Reduce -65.4% |
| IVV iShares Core S&P 500 ETF | 0.17% | 598 | $327K | New |
| FCX Freeport-McMoran Inc. | 0.16% | 6,495 | $316K | Add +1523.8% |
| SCHW Schwab (charles) Corp. | 0.15% | 4,111 | $303K | Add +24.3% |
| JPM JPMorgan Chase & Co. | 0.15% | 1,459 | $295K | Add +53.7% |
| CCL Carnival Corp. | 0.13% | 13,678 | $256K | Add +14.9% |
| PFF iShares Preferred & Income S | 0.12% | 7,492 | $236K | Add +47.1% |
| XLK SS Technology Select Sector | 0.11% | 969 | $219K | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.11% | 3,175 | $216K | Add +1683.7% |
| XMUIX BlackRock Municipal Income | 0.11% | 16,904 | $209K | Add +60.5% |
| SCHX Schwab US Large-Cap ETF | 0.10% | 3,040 | $195K | No change |
| EXPE Expedia Group Inc. | 0.09% | 1,340 | $169K | Reduce -18.8% |
| ABBV Abbvie Inc. | 0.08% | 909 | $156K | Reduce -27.1% |
| NLY Annaly Capital Management Inc. | 0.08% | 7,905 | $151K | Reduce -88.8% |
| JNJ Johnson & Johnson | 0.07% | 1,014 | $148K | Add +90.2% |
| TLT iShares 20+ Year Treasury BD | 0.07% | 1,589 | $146K | Reduce -96.1% |
| IWR iShares Russell Mid-Cap ETF | 0.07% | 1,770 | $144K | Reduce -4.8% |
| RSPT Invesco S&P 500 Equal Weight | 0.07% | 3,900 | $143K | Reduce -50.6% |
| WMT Walmart Inc. | 0.07% | 2,025 | $137K | Add +237.5% |
| OKE Oneok Inc. | 0.07% | 1,607 | $131K | Add +164.7% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.07% | 568 | $130K | No change |
| CMS CMS Energy Corp. | 0.06% | 2,100 | $125K | No change |
| DVY iShares Select Dividend ETF | 0.06% | 1,015 | $123K | Reduce -3.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.06% | 618 | $122K | Add +571.7% |
| HD Home Depot Inc. | 0.06% | 341 | $117K | Add +582.0% |
| SPHQ Invesco S&P 500 Quality ETF | 0.06% | 1,824 | $116K | Reduce -5.8% |
| LLY Eli Lilly & Co. | 0.06% | 124 | $112K | Reduce -19.5% |
| TSLA Tesla Inc. | 0.05% | 546 | $108K | No change |
| UNH Unitedhealth Group Inc. | 0.05% | 212 | $108K | Add +130.4% |
| SHY iShares 1-3 Year Treasury Bo | 0.05% | 1,299 | $106K | Reduce -79.0% |
| MLPX Global X MLP & Energy Infras | 0.05% | 1,950 | $100K | No change |
| UBER Uber Technologies Inc. | 0.05% | 1,350 | $98K | No change |
| AVGO Broadcom Inc. | 0.05% | 59 | $95K | No change |
| TDG Transdigm Group Inc. | 0.05% | 70 | $89K | No change |
| GRID First TRST Nasd Class Edg Sgiif | 0.04% | 737 | $85K | Add +5.9% |
| KMI Kinder Morgan Inc. | 0.04% | 4,145 | $82K | Add +3668.2% |
| V Visa Inc. Class A | 0.04% | 300 | $79K | New |
| CRM Salesforce Inc. | 0.04% | 295 | $76K | Reduce -17.6% |
| QUAL iShares MSCI USA Quality Fac | 0.04% | 439 | $75K | New |
| DASH DoorDash Inc. Class A | 0.04% | 650 | $71K | Add +40.7% |
| AXP American Express Co. | 0.04% | 300 | $69K | No change |
| D Dominion Energy Inc. | 0.03% | 1,390 | $68K | No change |
| ASML ASML Holding NV-NY Reg SHS | 0.03% | 65 | $66K | Add +30.0% |
| TMO Thermo Fisher Scientific Inc. | 0.03% | 120 | $66K | Add +33.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.03% | 457 | $65K | Reduce -2.1% |
| XOM Exxon Mobil Corp. | 0.03% | 565 | $65K | Add +98.9% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.03% | 791 | $63K | New |
| PLTR Palantir Technologies Inc. Class A | 0.03% | 2,500 | $63K | New |
| MPC Marathon Petroleum Corp. | 0.03% | 365 | $63K | Reduce -4.0% |
| MCD McDonald's Corp. | 0.03% | 245 | $62K | New |
| ICE Intercontinental Exchange Inc. | 0.03% | 450 | $62K | No change |
| WDAY Workday Inc. Class A | 0.03% | 275 | $61K | No change |
| SPYV SS SPDR P S&P 500 Value ETF | 0.03% | 1,240 | $60K | New |
| WPM Wheaton Precious Metals Corp. | 0.03% | 1,150 | $60K | No change |
| MA Mastercard Inc. Class A | 0.03% | 135 | $60K | Reduce -10.0% |
| PEP Pepsico Inc. | 0.03% | 360 | $59K | New |
| AMGN Amgen Inc. | 0.03% | 190 | $59K | New |
| PLD Prologis Inc. | 0.03% | 528 | $59K | Reduce -34.5% |
| IJR iShares Core S&P Small-Cap E | 0.03% | 550 | $59K | New |
Portfolio Sells Q1 2024 → Q2 2024
| TLT iShares 20+ Year Treasury BD | Reduce -96.1% | 0.07% | −2.06 |
| QTEC First Trust Nasdq 100 Tech I | Reduce -32.2% | 3.07% | −1.71 |
| AGNC AGNC Investment Corp. | Reduce -19.5% | 3.83% | −1.57 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −1.48 |
| FXY Invesco Currencyshares Japan | Sold out | 0.00% | −1.21 |
| VGLT Vanguard Long-Term Treasury | Sold out | 0.00% | −0.93 |
| NLY Annaly Capital Management Inc. | Reduce -88.8% | 0.08% | −0.69 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.53 |
| AMD Advanced Micro Devices | Reduce -39.2% | 0.45% | −0.45 |
| SNOW Snowflake Inc. | Sold out | 0.00% | −0.40 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -65.4% | 0.17% | −0.39 |
| MSFT Microsoft Corp. | Reduce -3.9% | 5.45% | −0.39 |
| NFE New Fortress Energy Inc. | Sold out | 0.00% | −0.38 |
| DDOG Datadog Inc. Class A | Reduce -2.6% | 3.39% | −0.24 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -79.0% | 0.05% | −0.23 |
| IAU iShares Gold Trust | Reduce -26.7% | 0.53% | −0.22 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.20 |
| GLD SPDR Gold Shares | Reduce -0.6% | 3.62% | −0.19 |
| RSPT Invesco S&P 500 Equal Weight | Reduce -50.6% | 0.07% | −0.08 |
| XLE SS Energy Select Sector | Reduce -8.5% | 0.30% | −0.07 |
| REM iShares Mortgage Real Estate | Reduce -79.8% | 0.01% | −0.06 |
| PSA Public Storage | Reduce -87.7% | 0.01% | −0.05 |
| ABBV Abbvie Inc. | Reduce -27.1% | 0.08% | −0.05 |
| EXPE Expedia Group Inc. | Reduce -18.8% | 0.09% | −0.04 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -0.7% | 3.89% | −0.03 |
| PLD Prologis Inc. | Reduce -34.5% | 0.03% | −0.03 |
| PICK iShares MSCI Global Metals & | Sold out | 0.00% | −0.03 |
| GGN Gamco GLBL Gold NTRL Res Inc. | Sold out | 0.00% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.1% | 0.20% | −0.02 |
| BGS B&G Foods Inc. | Reduce -15.6% | 0.03% | −0.02 |
| CRM Salesforce Inc. | Reduce -17.6% | 0.04% | −0.02 |
| FCFS Firstcash Holdings Inc. | Sold out | 0.00% | −0.02 |
| BG Bunge Global SA | Sold out | 0.00% | −0.02 |
| XLV SS Health Care Select Sector | Reduce -74.6% | 0.01% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -45.5% | 0.01% | −0.02 |
| IBB iShares Biotechnology ETF | Reduce -70.7% | 0.01% | −0.02 |
| IWR iShares Russell Mid-Cap ETF | Reduce -4.8% | 0.07% | −0.01 |
| ICLN iShares Global Clean Energy | Reduce -29.0% | 0.02% | −0.01 |
| MPC Marathon Petroleum Corp. | Reduce -4.0% | 0.03% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -10.0% | 0.03% | −0.01 |
| SE Sea Ltd.-ADR | Reduce -69.3% | 0.01% | −0.01 |
| CAH Cardinal Health Inc. | Sold out | 0.00% | −0.01 |
| DVY iShares Select Dividend ETF | Reduce -3.3% | 0.06% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -19.5% | 0.06% | −0.01 |
| AMN Amn Healthcare Services Inc. | Sold out | 0.00% | −0.01 |
| SDY SS SPDR S&P Dividend ETF | Reduce -13.3% | 0.02% | −0.01 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -5.8% | 0.06% | −0.01 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.01 |
| CWEN Clearway Energy Inc. Class C | Sold out | 0.00% | −0.01 |
| ADBE Adobe Inc. | Reduce -18.2% | 0.03% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| ORCL Oracle Corp. | Add +569.0% | 3.05% | +2.61 |
| NVDA Nvidia Corp. | Add +207.3% | 3.16% | +2.34 |
| XBI SS SPDR S&P Biotech ETF | Add +107.4% | 4.93% | +2.27 |
| INDA iShares MSCI India ETF | Add +139.5% | 3.73% | +2.16 |
| WMB Williams Cos Inc. | Add +75.6% | 3.01% | +1.29 |
| CYBR Cyberark Software Ltd./Israel | Add +63.2% | 3.11% | +1.09 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +54.7% | 1.18% | +0.35 |
| AAPL Apple Inc. | Add +2.0% | 2.02% | +0.26 |
| GDX Vaneck Gold Miners ETF | Add +6.0% | 5.66% | +0.22 |
| ITRI Itron Inc. | New | 0.21% | +0.21 |
| EDV Vanguard Extended Dur Treas | New | 0.17% | +0.17 |
| EMR Emerson Electric Co. | Add +21.9% | 2.21% | +0.17 |
| IVV iShares Core S&P 500 ETF | New | 0.17% | +0.17 |
| LNG Cheniere Energy Inc. | Add +6.2% | 3.24% | +0.16 |
| FCX Freeport-McMoran Inc. | Add +1523.8% | 0.16% | +0.15 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +1683.7% | 0.11% | +0.10 |
| AMZN Amazon.com Inc. | Add +7.5% | 1.75% | +0.09 |
| EOG EOG Resources Inc. | Add +14.1% | 2.76% | +0.07 |
| COST Costco Wholesale Corp. | Add +20.2% | 0.27% | +0.06 |
| QQQM Invesco Nasdaq 100 ETF | Add +571.7% | 0.06% | +0.05 |
| KTOS Kratos Defense & Security | Add +34.9% | 0.20% | +0.05 |
| WMT Walmart Inc. | Add +237.5% | 0.07% | +0.05 |
| HD Home Depot Inc. | Add +582.0% | 0.06% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +53.7% | 0.15% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.4% | 2.10% | +0.04 |
| KMI Kinder Morgan Inc. | Add +3668.2% | 0.04% | +0.04 |
| V Visa Inc. Class A | New | 0.04% | +0.04 |
| OKE Oneok Inc. | Add +164.7% | 0.07% | +0.04 |
| QUAL iShares MSCI USA Quality Fac | New | 0.04% | +0.04 |
| XMUIX BlackRock Municipal Income | Add +60.5% | 0.11% | +0.04 |
| SPYG SS SPDR P S&P 500 Growth ETF | New | 0.03% | +0.03 |
| PLTR Palantir Technologies Inc. Class A | New | 0.03% | +0.03 |
| MCD McDonald's Corp. | New | 0.03% | +0.03 |
| SPYV SS SPDR P S&P 500 Value ETF | New | 0.03% | +0.03 |
| AMGN Amgen Inc. | New | 0.03% | +0.03 |
| PEP Pepsico Inc. | New | 0.03% | +0.03 |
| IJR iShares Core S&P Small-Cap E | New | 0.03% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +130.4% | 0.05% | +0.03 |
| PFF iShares Preferred & Income S | Add +47.1% | 0.12% | +0.03 |
| JNJ Johnson & Johnson | Add +90.2% | 0.07% | +0.03 |
| ACN Accenture PLC Class A | New | 0.03% | +0.03 |
| PG The Procter & Gamble Co. | Add +762.5% | 0.03% | +0.03 |
| CB Chubb Ltd. | New | 0.03% | +0.03 |
| SBUX Starbucks Corp. | New | 0.02% | +0.02 |
| SDVY First Trust Smid Cap Rising | New | 0.02% | +0.02 |
| APD Air Products & Chemicals Inc. | New | 0.02% | +0.02 |
| GD General Dynamics Corp. | New | 0.02% | +0.02 |
| CMCSA Comcast Corp. Class A | New | 0.02% | +0.02 |
| CCL Carnival Corp. | Add +14.9% | 0.13% | +0.02 |
| FPEI First Trust Institutional PR | New | 0.02% | +0.02 |
Notes & Other Activity Q1 2024 → Q2 2024
| STLA Stellantis NV | SHS | Reduce -100.0% | 0 | $0 |
| USB US Bancorp | COM NEW | Reduce -100.0% | 0 | $0 |
| PHM Pultegroup Inc. | COM | Reduce -100.0% | 0 | $0 |
| CSCO Cisco Systems Inc. | COM | Reduce -100.0% | 0 | $0 |
| UNM Unum Group | COM | Reduce -100.0% | 0 | $0 |
| AEP American Electric Power | COM | Sold out | 0 | $0before exit |
| AIG American International Group | COM NEW | Sold out | 0 | $0before exit |
| FVD First Trust Value Line DVD | SHS | Sold out | 0 | $0before exit |
| GILD Gilead Sciences Inc. | COM | Sold out | 0 | $0before exit |
| HPQ HP Inc. | COM | Sold out | 0 | $0before exit |
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | RAFI US 1500 | New | 0 | $0 |
| RDIV Invesco S&P Ultra Dividend | S&P ULTRA DIVIDE | New | 0 | $0 |
| RWK Invesco S&P Midcap 400 Rev | S&P MDCP 400 REV | New | 0 | $0 |
| JPST JPMorgan Ultra-Short Income | ULTRA SHRT ETF | Sold out | 0 | $0before exit |
| VOE Vngrd Mrngstr MD-Cap Val ETF | MCAP VL IDXVIP | Sold out | 0 | $0before exit |
| WM Waste Management Inc. | COM | Sold out | 0 | $0before exit |
| STX Seagate Technology Holdings | ORD SHS | Sold out | 0 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 501 | $544.7M | MU, AMLP, GOOG, BIL, LNG |
| Q1 2026 | 346 | $455.6M | LNG, AMLP, BIL, GOOG, NVDA |
| Q4 2025 | 365 | $415.7M | GOOG, GDX, AMLP, MSFT, GLD |
| Q3 2025 | 332 | $383.6M | GDX, ORCL, GOOG, LNG, MSFT |
| Q2 2025 | 325 | $326.8M | ORCL, MSFT, LNG, BIL, GOOG |
| Q1 2025 | 289 | $269.2M | LNG, GDX, GLD, GOOG, AMLP |
| Q4 2024 | 309 | $274.8M | GOOG, MSFT, IHI, GDX, LNG |
| Q3 2024 | 297 | $261.1M | MSFT, GDX, GOOG, XBI, IHI |
| Q2 2024 | 239 | $198.3M | GDX, MSFT, GOOG, IHI, XBI |
| Q1 2024 | 230 | $181.5M | MSFT, IHI, GDX, AGNC, GOOG |