FWL Investment Management, LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), FWL Investment Management, LLC reported 297 stock positions worth $261.1 million. Its top holding was Microsoft (MSFT) at 5.0% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 4.9%) and Alphabet Class C (GOOG, 4.7%). Compared with Q2 2024, it opened 83 new positions, sold out of 26, added to 93 and reduced 44. The biggest buy was a new position in Micron Technology (MU) and the biggest sale iShares MSCI Japan ETF (EWJ, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Dallas, TX
- CIK
- 0001829231
- Portfolio Value
- $261.1M (Q3 2024)
- SEC Filing
- 0001999371-24-014690 ↗ filed Nov 14, 2024
Holdings Value
Holdings 297 stocks · $261.1M
| MSFT Microsoft Corp. | 5.02% | 30,430 | $13.1M | Add +25.7% |
| GDX Vaneck Gold Miners ETF | 4.94% | 323,962 | $12.9M | Reduce -2.2% |
| GOOG Alphabet Inc. Class C | 4.68% | 73,144 | $12.2M | Add +27.6% |
| XBI SS SPDR S&P Biotech ETF | 4.56% | 120,518 | $11.9M | Add +14.2% |
| IHI iShares U.S. Medical Devices | 4.39% | 193,649 | $11.5M | Add +4.3% |
| LMT Lockheed Martin Corp. | 3.84% | 17,134 | $10.0M | Add +27.9% |
| ORCL Oracle Corp. | 3.56% | 54,600 | $9.3M | Add +27.3% |
| AGNC AGNC Investment Corp. | 3.40% | 849,648 | $8.9M | Add +6.6% |
| LNG Cheniere Energy Inc. | 3.40% | 49,395 | $8.9M | Add +34.3% |
| GLD SPDR Gold Shares | 3.23% | 34,655 | $8.4M | Add +3.6% |
| IBN Icici Bank Ltd.-Spon ADR | 3.12% | 272,891 | $8.1M | Add +1.9% |
| INDA iShares MSCI India ETF | 3.08% | 137,376 | $8.0M | Add +3.5% |
| AMLP Alerian MLP ETF | 2.85% | 157,785 | $7.4M | Add +21.6% |
| AAPL Apple Inc. | 2.75% | 30,852 | $7.2M | Add +62.2% |
| ETN Eaton Corp. PLC | 2.69% | 21,209 | $7.0M | Add +17.7% |
| CYBR Cyberark Software Ltd./Israel | 2.60% | 23,252 | $6.8M | Add +3.0% |
| WMB Williams Cos Inc. | 2.53% | 144,879 | $6.6M | Add +3.2% |
| NVDA Nvidia Corp. | 2.41% | 51,889 | $6.3M | Add +2.2% |
| DDOG Datadog Inc. Class A | 2.26% | 51,230 | $5.9M | Reduce -1.2% |
| MU Micron Technology Inc. | 1.99% | 50,220 | $5.2M | New |
| CCJ Cameco Corp. | 1.85% | 101,094 | $4.8M | New |
| QQQ Invesco QQQ Trust Series 1 | 1.66% | 8,882 | $4.3M | Add +2.0% |
| EMR Emerson Electric Co. | 1.53% | 36,605 | $4.0M | Reduce -7.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.49% | 8,438 | $3.9M | Add +245.7% |
| AMZN Amazon.com Inc. | 1.42% | 19,892 | $3.7M | Add +10.5% |
| WMT Walmart Inc. | 1.24% | 39,999 | $3.2M | Add +1875.3% |
| JPM JPMorgan Chase & Co. | 1.19% | 14,749 | $3.1M | Add +910.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.17% | 33,404 | $3.1M | Add +30.8% |
| HD Home Depot Inc. | 1.15% | 7,416 | $3.0M | Add +2074.8% |
| COST Costco Wholesale Corp. | 0.98% | 2,876 | $2.5M | Add +360.2% |
| UNH Unitedhealth Group Inc. | 0.91% | 4,058 | $2.4M | Add +1814.2% |
| ACN Accenture PLC Class A | 0.73% | 5,423 | $1.9M | Add +2831.3% |
| MCD McDonald's Corp. | 0.71% | 6,121 | $1.9M | Add +2398.4% |
| CB Chubb Ltd. | 0.70% | 6,375 | $1.8M | Add +3169.2% |
| IVV iShares Core S&P 500 ETF | 0.69% | 3,118 | $1.8M | Add +421.4% |
| V Visa Inc. Class A | 0.67% | 6,315 | $1.7M | Add +2005.0% |
| PG The Procter & Gamble Co. | 0.64% | 9,609 | $1.7M | Add +2685.2% |
| JNJ Johnson & Johnson | 0.63% | 10,169 | $1.6M | Add +902.9% |
| MRK Merck & Co. Inc. | 0.63% | 14,443 | $1.6M | Add +204.8% |
| GD General Dynamics Corp. | 0.63% | 5,410 | $1.6M | Add +3281.3% |
| APD Air Products & Chemicals Inc. | 0.62% | 5,434 | $1.6M | Add +2918.9% |
| QTEC First Trust Nasdq 100 Tech I | 0.55% | 7,473 | $1.4M | Reduce -75.8% |
| PEP Pepsico Inc. | 0.55% | 8,388 | $1.4M | Add +2230.0% |
| IWF iShares Russell 1000 Growth | 0.54% | 3,775 | $1.4M | Reduce -2.6% |
| IAU iShares Gold Trust | 0.54% | 28,266 | $1.4M | Add +18.8% |
| AMGN Amgen Inc. | 0.54% | 4,359 | $1.4M | Add +2194.2% |
| FPEI First Trust Institutional PR | 0.52% | 71,541 | $1.4M | Add +2950.8% |
| SDVY First Trust Smid Cap Rising | 0.51% | 36,250 | $1.3M | Add +2480.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.48% | 6,205 | $1.2M | Add +904.0% |
| GOOGL Alphabet Inc. Class A | 0.37% | 5,877 | $975K | Add +0.3% |
| VRT Vertiv Holdings Co. Class A | 0.33% | 8,723 | $868K | Add +52.7% |
| ONEQ Fidelity Nasdaq Comp Indx | 0.32% | 11,753 | $842K | Add +4221.0% |
| AMD Advanced Micro Devices | 0.25% | 4,023 | $660K | Reduce -27.3% |
| FQAL Fidelity Quality Factor ETF | 0.24% | 9,711 | $630K | Add +3946.3% |
| DGRO iShares Core Dividend Growth | 0.22% | 9,133 | $573K | Add +4051.4% |
| ITRI Itron Inc. | 0.21% | 5,213 | $557K | Add +23.2% |
| KTOS Kratos Defense & Security | 0.19% | 21,756 | $507K | Add +11.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.18% | 2,671 | $466K | Add +8.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.18% | 1,200 | $461K | Reduce -2.0% |
| EDV Vanguard Extended Dur Treas | 0.17% | 5,623 | $448K | Add +19.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.16% | 5,110 | $413K | Add +60.9% |
| FCX Freeport-McMoran Inc. | 0.14% | 7,371 | $368K | Add +13.5% |
| PLTR Palantir Technologies Inc. Class A | 0.13% | 9,041 | $336K | Add +261.6% |
| COWZ Pacer US Cash Cows 100 ETF | 0.12% | 5,510 | $319K | Reduce -8.7% |
| SCHW Schwab (charles) Corp. | 0.12% | 4,914 | $318K | Add +19.5% |
| URA Global X Uranium ETF | 0.12% | 10,902 | $312K | Reduce -92.6% |
| PFF iShares Preferred & Income S | 0.12% | 9,277 | $308K | Add +23.8% |
| XMUIX BlackRock Municipal Income | 0.12% | 24,164 | $304K | Add +43.0% |
| QUAL iShares MSCI USA Quality Fac | 0.11% | 1,572 | $282K | Add +258.1% |
| XLK SS Technology Select Sector | 0.09% | 987 | $223K | Add +1.9% |
| ABBV Abbvie Inc. | 0.08% | 1,113 | $220K | Add +22.4% |
| VONG Vanguard Russell 1000 Growth | 0.08% | 2,274 | $219K | New |
| AGG iShares Core U.S. Aggregate | 0.08% | 2,134 | $216K | Add +4980.9% |
| TLT iShares 20+ Year Treasury BD | 0.08% | 2,125 | $208K | Add +33.7% |
| FTCS First Trust Capital Strength | 0.08% | 2,234 | $203K | New |
| SCHX Schwab US Large-Cap ETF | 0.08% | 2,940 | $199K | Reduce -3.3% |
| EXPE Expedia Group Inc. | 0.08% | 1,340 | $198K | No change |
| IWR iShares Russell Mid-Cap ETF | 0.06% | 1,809 | $159K | Add +2.2% |
| NLY Annaly Capital Management Inc. | 0.06% | 7,850 | $158K | Reduce -0.7% |
| OKE Oneok Inc. | 0.06% | 1,607 | $146K | No change |
| IJR iShares Core S&P Small-Cap E | 0.05% | 1,212 | $142K | Add +120.4% |
| TSLA Tesla Inc. | 0.05% | 539 | $141K | Reduce -1.3% |
| DVY iShares Select Dividend ETF | 0.05% | 1,015 | $137K | No change |
| CMS CMS Energy Corp. | 0.05% | 1,900 | $134K | Reduce -9.5% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.05% | 528 | $129K | Reduce -7.0% |
| DFS Discover Financial Services | 0.05% | 905 | $127K | New |
| KMI Kinder Morgan Inc. | 0.05% | 5,645 | $125K | Add +36.2% |
| D Dominion Energy Inc. | 0.05% | 2,140 | $124K | Add +54.0% |
| NEE Nextera Energy Inc. | 0.04% | 1,376 | $116K | New |
| AVGO Broadcom Inc. | 0.04% | 670 | $116K | Add +13.6% |
| GRID First TRST Nasd Class Edg Sgiif | 0.04% | 880 | $112K | Add +19.4% |
| LLY Eli Lilly & Co. | 0.04% | 124 | $110K | No change |
| SHY iShares 1-3 Year Treasury Bo | 0.04% | 1,270 | $106K | Reduce -2.2% |
| UBER Uber Technologies Inc. | 0.04% | 1,388 | $104K | Add +2.8% |
| CSCO Cisco Systems Inc. | 0.04% | 1,958 | $104K | Add +0.0% |
| FDHY Fidelity Enh Hi YLD ETF | 0.04% | 2,053 | $101K | New |
| MLPX Global X MLP & Energy Infras | 0.04% | 1,850 | $101K | Reduce -5.1% |
| TDG Transdigm Group Inc. | 0.04% | 70 | $100K | No change |
| SDY SS SPDR S&P Dividend ETF | 0.03% | 609 | $87K | Add +91.5% |
| IMTM iShares MSCI Intl Momentum F | 0.03% | 2,116 | $85K | New |
Portfolio Sells Q2 2024 → Q3 2024
| EWJ iShares MSCI Japan ETF | Reduce -99.2% | 0.02% | −2.97 |
| EOG EOG Resources Inc. | Reduce -99.0% | 0.02% | −2.74 |
| QTEC First Trust Nasdq 100 Tech I | Reduce -75.8% | 0.55% | −2.52 |
| URA Global X Uranium ETF | Reduce -92.6% | 0.12% | −2.04 |
| DDOG Datadog Inc. Class A | Reduce -1.2% | 2.26% | −1.13 |
| GDX Vaneck Gold Miners ETF | Reduce -2.2% | 4.94% | −0.72 |
| EMR Emerson Electric Co. | Reduce -7.8% | 1.53% | −0.67 |
| XLE SS Energy Select Sector | Reduce -96.3% | 0.01% | −0.29 |
| AMD Advanced Micro Devices | Reduce -27.3% | 0.25% | −0.20 |
| IWF iShares Russell 1000 Growth | Reduce -2.6% | 0.54% | −0.17 |
| CCL Carnival Corp. | Reduce -77.0% | 0.02% | −0.11 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -2.0% | 0.18% | −0.05 |
| RSPT Invesco S&P 500 Equal Weight | Reduce -61.5% | 0.02% | −0.05 |
| COWZ Pacer US Cash Cows 100 ETF | Reduce -8.7% | 0.12% | −0.04 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −0.04 |
| SPYG SS SPDR P S&P 500 Growth ETF | Sold out | 0.00% | −0.03 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.03 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.03 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -36.1% | 0.03% | −0.03 |
| SCHX Schwab US Large-Cap ETF | Reduce -3.3% | 0.08% | −0.02 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.02 |
| AMPS Altus Power Inc. | Sold out | 0.00% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -42.7% | 0.01% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -75.0% | 0.00% | −0.02 |
| HSY The Hershey Co. | Reduce -88.6% | 0.00% | −0.02 |
| SBUX Starbucks Corp. | Reduce -73.2% | 0.01% | −0.02 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -87.0% | 0.00% | −0.02 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -7.0% | 0.05% | −0.02 |
| NLY Annaly Capital Management Inc. | Reduce -0.7% | 0.06% | −0.02 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -40.7% | 0.01% | −0.02 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -7.7% | 0.02% | −0.01 |
| UPS United Parcel Service Class B | Reduce -56.7% | 0.01% | −0.01 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -2.2% | 0.04% | −0.01 |
| CMS CMS Energy Corp. | Reduce -9.5% | 0.05% | −0.01 |
| MLPX Global X MLP & Energy Infras | Reduce -5.1% | 0.04% | −0.01 |
| BGS B&G Foods Inc. | Reduce -30.4% | 0.02% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -22.7% | 0.02% | −0.01 |
| SPEM State Street SP PTF Em ETF | Sold out | 0.00% | −0.01 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -62.5% | 0.00% | −0.01 |
| STLD Steel Dynamics Inc. | Sold out | 0.00% | −0.01 |
| CHX Championx Corp. | Sold out | 0.00% | −0.01 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.01 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Reduce -56.7% | 0.00% | −0.01 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.01 |
| ETR Entergy Corp. | Sold out | 0.00% | −0.00 |
| ICLN iShares Global Clean Energy | Reduce -4.7% | 0.02% | −0.00 |
| IBM Intl Business Machines Corp. | Reduce -24.2% | 0.01% | −0.00 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -54.5% | 0.00% | −0.00 |
| FCG First Trust Natural Gas ETF | Reduce -5.0% | 0.01% | −0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| MU Micron Technology Inc. | New | 1.99% | +1.99 |
| CCJ Cameco Corp. | New | 1.85% | +1.85 |
| WMT Walmart Inc. | Add +1875.3% | 1.24% | +1.17 |
| HD Home Depot Inc. | Add +2074.8% | 1.15% | +1.09 |
| JPM JPMorgan Chase & Co. | Add +910.9% | 1.19% | +1.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +245.7% | 1.49% | +0.99 |
| UNH Unitedhealth Group Inc. | Add +1814.2% | 0.91% | +0.85 |
| AAPL Apple Inc. | Add +62.2% | 2.75% | +0.73 |
| COST Costco Wholesale Corp. | Add +360.2% | 0.98% | +0.71 |
| ACN Accenture PLC Class A | Add +2831.3% | 0.73% | +0.71 |
| MCD McDonald's Corp. | Add +2398.4% | 0.71% | +0.68 |
| LMT Lockheed Martin Corp. | Add +27.9% | 3.84% | +0.68 |
| CB Chubb Ltd. | Add +3169.2% | 0.70% | +0.68 |
| V Visa Inc. Class A | Add +2005.0% | 0.67% | +0.63 |
| PG The Procter & Gamble Co. | Add +2685.2% | 0.64% | +0.61 |
| GD General Dynamics Corp. | Add +3281.3% | 0.63% | +0.60 |
| APD Air Products & Chemicals Inc. | Add +2918.9% | 0.62% | +0.60 |
| JNJ Johnson & Johnson | Add +902.9% | 0.63% | +0.56 |
| IVV iShares Core S&P 500 ETF | Add +421.4% | 0.69% | +0.52 |
| PEP Pepsico Inc. | Add +2230.0% | 0.55% | +0.52 |
| ORCL Oracle Corp. | Add +27.3% | 3.56% | +0.51 |
| AMGN Amgen Inc. | Add +2194.2% | 0.54% | +0.51 |
| FPEI First Trust Institutional PR | Add +2950.8% | 0.52% | +0.50 |
| SDVY First Trust Smid Cap Rising | Add +2480.1% | 0.51% | +0.48 |
| QQQM Invesco Nasdaq 100 ETF | Add +904.0% | 0.48% | +0.42 |
| MRK Merck & Co. Inc. | Add +204.8% | 0.63% | +0.33 |
| ONEQ Fidelity Nasdaq Comp Indx | Add +4221.0% | 0.32% | +0.31 |
| FQAL Fidelity Quality Factor ETF | Add +3946.3% | 0.24% | +0.23 |
| DGRO iShares Core Dividend Growth | Add +4051.4% | 0.22% | +0.21 |
| LNG Cheniere Energy Inc. | Add +34.3% | 3.40% | +0.16 |
| PLTR Palantir Technologies Inc. Class A | Add +261.6% | 0.13% | +0.10 |
| VONG Vanguard Russell 1000 Growth | New | 0.08% | +0.08 |
| VRT Vertiv Holdings Co. Class A | Add +52.7% | 0.33% | +0.08 |
| AGG iShares Core U.S. Aggregate | Add +4980.9% | 0.08% | +0.08 |
| FTCS First Trust Capital Strength | New | 0.08% | +0.08 |
| QUAL iShares MSCI USA Quality Fac | Add +258.1% | 0.11% | +0.07 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +60.9% | 0.16% | +0.05 |
| DFS Discover Financial Services | New | 0.05% | +0.05 |
| NEE Nextera Energy Inc. | New | 0.04% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.0% | 0.04% | +0.04 |
| FDHY Fidelity Enh Hi YLD ETF | New | 0.04% | +0.04 |
| IMTM iShares MSCI Intl Momentum F | New | 0.03% | +0.03 |
| LOW Lowe's Cos Inc. | New | 0.03% | +0.03 |
| VGLT Vanguard Long-Term Treasury | New | 0.03% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +120.4% | 0.05% | +0.02 |
| FMHI First Trust Municipal High I | New | 0.02% | +0.02 |
| URI United Rentals Inc. | New | 0.02% | +0.02 |
| PSP Invesco Global Listed Privat | New | 0.02% | +0.02 |
| PSA Public Storage | Add +244.4% | 0.02% | +0.02 |
| BIV Vanguard Intermediate-Term B | New | 0.01% | +0.01 |
Notes & Other Activity Q2 2024 → Q3 2024
| PRFZ Inv Rafi US 1500 SM-Usd Inc. | RAFI US 1500 | Sold out | 0 | $0before exit |
| RDIV Invesco S&P Ultra Dividend | S&P ULTRA DIVIDE | Sold out | 0 | $0before exit |
| RWK Invesco S&P Midcap 400 Rev | S&P MDCP 400 REV | Sold out | 0 | $0before exit |
| MLM Martin Marietta Materials | COM | New | 0 | $0 |
| PHM Pultegroup Inc. | COM | Sold out | 0 | $0before exit |
| USB US Bancorp | COM NEW | Sold out | 0 | $0before exit |
| UNM Unum Group | COM | Sold out | 0 | $0before exit |
| STLA Stellantis NV | 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 |