Swan Global Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Swan Global Investments, LLC reported 60 stock positions worth $2.3 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 35.7% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 21.5%) and SS Technology Select Sector (XLK, 5.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 20, added to 12 and reduced 34. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +2%) and the biggest sale SS Technology Select Sector (XLK, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- DURANGO, CO
- CIK
- 0001591505
- Portfolio Value
- $2.3B (Q3 2025)
- SEC Filing
- 0001591505-25-000006 ↗ filed Nov 7, 2025
Holdings Value
Holdings 60 stocks · $2.3B
| SPY SS SPDR S&P 500 ETF Trust-US | 35.67% | 1,210,917 | $806.7M | Add +1.5% |
| IVV iShares Core S&P 500 ETF | 21.51% | 726,609 | $486.3M | Reduce -0.1% |
| XLK SS Technology Select Sector | 5.78% | 463,541 | $130.7M | Reduce -13.9% |
| PSMJ Pacer Swan Sos Moderate July | 3.45% | 2,471,161 | $78.0M | Add +20.7% |
| PSMR Pacer Swan Sos Moderate Apr | 3.25% | 2,510,815 | $73.5M | Reduce -3.1% |
| PSMD Pacer Swan Sos Moderate Janu | 3.04% | 2,173,770 | $68.8M | Reduce -3.4% |
| PSMO Pacer Swan Sos Mod Oct ETF | 2.78% | 2,087,066 | $62.9M | Reduce -0.8% |
| HEGD Swan Hedged Equity US LG Cap | 2.76% | 2,508,740 | $62.5M | Reduce -9.4% |
| PSCW Pacer Swan Sos Conserv Apr | 2.38% | 1,966,023 | $53.8M | Reduce -3.3% |
| XLF SS Financial Select Sector | 2.23% | 937,119 | $50.5M | Reduce -14.0% |
| XLY SS Consumer Disc Select Sect | 1.78% | 168,145 | $40.3M | Reduce -14.0% |
| XLC SS Comm Select Sector SPDR | 1.69% | 322,797 | $38.2M | Reduce -13.5% |
| PSCJ Pacer Swan Sos Conservative | 1.65% | 1,264,210 | $37.3M | Add +10.8% |
| PSCQ Pacer Swan Sos Cons Oct ETF | 1.61% | 1,251,312 | $36.3M | Reduce -2.2% |
| XLV SS Health Care Select Sector | 1.51% | 245,213 | $34.1M | Reduce -13.9% |
| XLI SS Industrial Select Sector | 1.41% | 206,285 | $31.8M | Reduce -14.0% |
| PSCX Pacer Swan Sos Conservative | 1.19% | 888,885 | $26.8M | Reduce -3.3% |
| PSFD Pacer Swan Sos Flex January | 1.05% | 655,650 | $23.8M | Reduce -3.4% |
| PSFJ Pacer Swan Sos Flex July ETF | 1.02% | 713,171 | $23.1M | Add +29.3% |
| XLP SS Consumer Staples Sel Sect | 0.82% | 236,791 | $18.6M | Reduce -14.0% |
| PSFM Pacer Swan Sos Flex April | 0.62% | 447,213 | $13.9M | Reduce -2.5% |
| PSFO Pacer Swan Sos Flex Oct ETF | 0.54% | 380,864 | $12.1M | Add +2.2% |
| XLE SS Energy Select Sector | 0.49% | 124,409 | $11.1M | Reduce -14.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.39% | 102,086 | $8.9M | Reduce -14.0% |
| XLRE SS Real Estate Select Sector | 0.32% | 170,746 | $7.2M | Reduce -14.0% |
| XLB SS Materials Select Sector | 0.30% | 75,278 | $6.7M | Reduce -14.0% |
| BOXX Alpha Architect 1-3 MNTH Box | 0.06% | 12,700 | $1.4M | Add +20.9% |
| SGOL Abrdn Physical Gold Shares | 0.06% | 35,038 | $1.3M | Add +5.9% |
| SCLZ Swan Enhanced DVD Inc. ETF | 0.06% | 23,591 | $1.3M | Add +2.2% |
| AAPL Apple Inc. | 0.04% | 3,605 | $918K | Add +10.2% |
| NVDA Nvidia Corp. | 0.04% | 4,612 | $861K | New |
| MSFT Microsoft Corp. | 0.04% | 1,600 | $829K | Reduce -5.2% |
| GLD SPDR Gold Shares | 0.03% | 2,045 | $727K | Reduce -11.5% |
| META Meta Platforms Inc. Class A | 0.03% | 903 | $663K | New |
| AMZN Amazon.com Inc. | 0.03% | 2,742 | $602K | New |
| AVGO Broadcom Inc. | 0.03% | 1,738 | $573K | Reduce -36.5% |
| GOOGL Alphabet Inc. Class A | 0.02% | 2,237 | $544K | Reduce -45.2% |
| JPM JPMorgan Chase & Co. | 0.02% | 1,574 | $496K | Reduce -16.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.02% | 974 | $490K | New |
| VEU Vanguard Ftse All-World Ex-U | 0.02% | 6,485 | $463K | Add +15.3% |
| LLY Eli Lilly & Co. | 0.02% | 600 | $458K | Add +6.8% |
| TSLA Tesla Inc. | 0.02% | 867 | $386K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.02% | 1,247 | $352K | New |
| V Visa Inc. Class A | 0.02% | 1,022 | $349K | Reduce -13.2% |
| JNJ Johnson & Johnson | 0.01% | 1,800 | $334K | Reduce -16.0% |
| GE General Electric filed as GE AEROSPACE | 0.01% | 1,087 | $327K | New |
| KO The Coca-Cola Co. | 0.01% | 4,900 | $325K | Add +21.6% |
| ABBV Abbvie Inc. | 0.01% | 1,400 | $324K | New |
| WMT Walmart Inc. | 0.01% | 3,100 | $319K | New |
| PLTR Palantir Technologies Inc. Class A | 0.01% | 1,694 | $309K | New |
| ORCL Oracle Corp. | 0.01% | 1,092 | $307K | Reduce -44.1% |
| MA Mastercard Inc. Class A | 0.01% | 506 | $288K | Reduce -15.1% |
| VTWO Vanguard Russell 2000 ETF | 0.01% | 2,777 | $272K | Reduce -3.5% |
| CSCO Cisco Systems Inc. | 0.01% | 3,904 | $267K | Reduce -12.7% |
| IEFA iShares Core MSCI Eafe ETF | 0.01% | 2,860 | $250K | No change |
| IEMG iShares Core MSCI Emerging | 0.01% | 3,709 | $244K | No change |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | 0.01% | 6,156 | $242K | Reduce -19.2% |
| XOM Exxon Mobil Corp. | 0.01% | 2,100 | $237K | New |
| UBER TECHNOLOGIES INC | 0.01% | 2,202 | $216K | New |
| TLT iShares 20+ Year Treasury BD | 0.01% | 2,400 | $214K | Reduce -27.3% |
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($1.3B), STATE STR SPDR S&P 500 ETF T calls ($7.7M), CHENIERE ENERGY INC puts ($3.3M), APPLE INC puts ($2.7M), NVIDIA CORPORATION puts ($2.0M), ISHARES TR puts ($1.6M), AMAZON COM INC puts ($1.5M), META PLATFORMS INC puts ($1.5M), SPDR GOLD TR puts ($758K), ISHARES TR puts ($275K).
Portfolio Sells Q2 2025 → Q3 2025
| XLK SS Technology Select Sector | Reduce -13.9% | 5.78% | −0.54 |
| XLF SS Financial Select Sector | Reduce -14.0% | 2.23% | −0.41 |
| XLV SS Health Care Select Sector | Reduce -13.9% | 1.51% | −0.27 |
| HEGD Swan Hedged Equity US LG Cap | Reduce -9.4% | 2.76% | −0.25 |
| XLI SS Industrial Select Sector | Reduce -14.0% | 1.41% | −0.23 |
| XLP SS Consumer Staples Sel Sect | Reduce -14.0% | 0.82% | −0.21 |
| XLC SS Comm Select Sector SPDR | Reduce -13.5% | 1.69% | −0.19 |
| XLY SS Consumer Disc Select Sect | Reduce -14.0% | 1.78% | −0.18 |
| PSMR Pacer Swan Sos Moderate Apr | Reduce -3.1% | 3.25% | −0.16 |
| PSMD Pacer Swan Sos Moderate Janu | Reduce -3.4% | 3.04% | −0.13 |
| PSCW Pacer Swan Sos Conserv Apr | Reduce -3.3% | 2.38% | −0.12 |
| XLE SS Energy Select Sector | Reduce -14.0% | 0.49% | −0.08 |
| XLRE SS Real Estate Select Sector | Reduce -14.0% | 0.32% | −0.06 |
| XLB SS Materials Select Sector | Reduce -14.0% | 0.30% | −0.06 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -14.0% | 0.39% | −0.05 |
| PSCX Pacer Swan Sos Conservative | Reduce -3.3% | 1.19% | −0.04 |
| PSCQ Pacer Swan Sos Cons Oct ETF | Reduce -2.2% | 1.61% | −0.04 |
| PSFD Pacer Swan Sos Flex January | Reduce -3.4% | 1.05% | −0.04 |
| PSMO Pacer Swan Sos Mod Oct ETF | Reduce -0.8% | 2.78% | −0.03 |
| PSFM Pacer Swan Sos Flex April | Reduce -2.5% | 0.62% | −0.02 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.02 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.02 |
| HD Home Depot Inc. | Sold out | 0.00% | −0.01 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.01 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.01 |
| PM Philip Morris International | Sold out | 0.00% | −0.01 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.01 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.01 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.01 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.01 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.01 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.01 |
| DE Deere & Co. | Sold out | 0.00% | −0.01 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.01 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.01 |
| AVGO Broadcom Inc. | Reduce -36.5% | 0.03% | −0.01 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.01 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -45.2% | 0.02% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.01 |
| ORCL Oracle Corp. | Reduce -44.1% | 0.01% | −0.01 |
| TLT iShares 20+ Year Treasury BD | Reduce -27.3% | 0.01% | −0.00 |
| V Visa Inc. Class A | Reduce -13.2% | 0.02% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -16.7% | 0.02% | −0.00 |
| XCCC Bondbloxx-CCC-Usd HY Corp. BD | Reduce -19.2% | 0.01% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -15.1% | 0.01% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -12.7% | 0.01% | −0.00 |
| MSFT Microsoft Corp. | Reduce -5.2% | 0.04% | −0.00 |
| GRANITESHARES ETF TR | Sold out | 0.00% | −0.00 |
| GLD SPDR Gold Shares | Reduce -11.5% | 0.03% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.5% | 35.67% | +1.55 |
| PSMJ Pacer Swan Sos Moderate July | Add +20.7% | 3.45% | +0.57 |
| PSFJ Pacer Swan Sos Flex July ETF | Add +29.3% | 1.02% | +0.23 |
| PSCJ Pacer Swan Sos Conservative | Add +10.8% | 1.65% | +0.15 |
| NVDA Nvidia Corp. | New | 0.04% | +0.04 |
| META Meta Platforms Inc. Class A | New | 0.03% | +0.03 |
| AMZN Amazon.com Inc. | New | 0.03% | +0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | New | 0.02% | +0.02 |
| IBM Intl Business Machines Corp. | New | 0.02% | +0.02 |
| PSFO Pacer Swan Sos Flex Oct ETF | Add +2.2% | 0.54% | +0.02 |
| GE General Electric | New | 0.01% | +0.01 |
| ABBV Abbvie Inc. | New | 0.01% | +0.01 |
| WMT Walmart Inc. | New | 0.01% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | New | 0.01% | +0.01 |
| XOM Exxon Mobil Corp. | New | 0.01% | +0.01 |
| AAPL Apple Inc. | Add +10.2% | 0.04% | +0.01 |
| UBER TECHNOLOGIES INC | New | 0.01% | +0.01 |
| BOXX Alpha Architect 1-3 MNTH Box | Add +20.9% | 0.06% | +0.01 |
| SGOL Abrdn Physical Gold Shares | Add +5.9% | 0.06% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +15.3% | 0.02% | +0.00 |
| KO The Coca-Cola Co. | Add +21.6% | 0.01% | +0.00 |
| SCLZ Swan Enhanced DVD Inc. ETF | Add +2.2% | 0.06% | +0.00 |
| LLY Eli Lilly & Co. | Add +6.8% | 0.02% | 0.00 |
Options Activity Q2 2025 → Q3 2025
| STATE STR SPDR S&P 500 ETF T | put | Reduce -6.8% | 2,250,600 | $1.3B |
| STATE STR SPDR S&P 500 ETF T | call | Reduce -9.6% | 1,023,500 | $7.7M |
| APPLE INC | put | Reduce -27.3% | 13,600 | $2.7M |
| ISHARES TR | put | Add +3.9% | 10,600 | $1.6M |
| SPDR GOLD TR | put | Add +9.5% | 2,300 | $758K |
| ISHARES TR | put | Add +6.7% | 6,400 | $275K |
| LIVE NATION ENTERTAINMENT IN | put | Sold out | 1,500 | $210Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 87 | $2.2B | SPY, IVV, XLK, PSMO, PSMD |
| Q1 2026 | 64 | $1.9B | SPY, IVV, PSMO, PSMD, XLK |
| Q4 2025 | 66 | $2.1B | SPY, IVV, XLK, PSMO, PSMJ |
| Q3 2025 | 60 | $2.3B | SPY, IVV, XLK, PSMJ, PSMR |
| Q2 2025 | 68 | $2.2B | SPY, IVV, XLK, PSMR, PSMD |
| Q1 2025 | 60 | $2.0B | SPY, IVV, XLK, PSMD, PSMO |
| Q4 2024 | 48 | $2.1B | SPY, IVV, XLK, PSMJ, HEGD |
| Q3 2024 | 39 | $2.1B | SPY, IVV, XLK, PSMJ, XLF |
| Q2 2024 | 35 | $2.0B | SPY, IVV, XLK, XLF, PSMD |
| Q1 2024 | 34 | $2.0B | SPY, IVV, XLK, XLF, XLV |