FWL INVESTMENT MANAGEMENT, LLC

Open in PORT →← all managers

CIK 1829231

13F portfolio (2026-Q1)

$456M

Positions

346

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

346

Top 5

25.8%

Top 10

44.9%

Effective N

33.8

HHI

0.030

This quarter

56 new · 0 exit →

By sector

Unclassified32.7%

Information Technology17.1%

Utilities14.2%

Industrials7.9%

Financials6.0%

Health Care5.3%

Communication Services5.0%

Consumer Discretionary5.0%

Other6.9%

By market cap

Unknown36.4%

Large ($10–200B)33.1%

Mega (>$200B)26.5%

Mid ($2–10B)4.0%

Small ($300M–2B)0.0%

By region

North America66.9%

Other32.7%

Europe0.4%

Asia-Pacific0.0%

Africa0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	33.52%	143
Utilities	14.21%	17
Semiconductors & Semiconductor Equipment	7.81%	12
Software & IT Services	7.74%	7
Health Care Equipment & Supplies	4.02%	6
Software	3.77%	9
Banks	3.51%	14
Metals & Mining	3.27%	8
Specialty Retail	2.97%	7
Road & Rail	2.90%	1
Equity Real Estate Investment Trusts (REITs)	2.22%	6
Commercial Services & Supplies	2.21%	8
Automobiles & Components	1.70%	3
Aerospace & Defense	1.63%	6
Machinery	1.59%	12
Technology Hardware & Equipment	1.42%	12
Communications Equipment	1.29%	2
Pharmaceuticals & Biotechnology	1.24%	12
Capital Markets	0.92%	5
Oil, Gas & Consumable Fuels	0.65%	9
Chemicals	0.39%	3
Distributors	0.27%	4
Tobacco	0.17%	1
Beverages	0.17%	2
Insurance	0.16%	8
Health Care Providers & Services	0.11%	2
Construction & Engineering	0.04%	3
Electrical Equipment & Components	0.02%	5
Diversified Telecommunication Services	0.02%	3
Media & Entertainment	0.01%	4
Textiles, Apparel & Luxury Goods	0.01%	1
Food & Staples Retailing	0.00%	1
Marine	0.00%	4
Hotels, Restaurants & Leisure	0.00%	1
Transportation Infrastructure	0.00%	1
Entertainment	0.00%	1
Airlines	0.00%	1
Food Products	0.00%	1
Diversified Consumer Services	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	LNG	Cheniere Energy, Inc.	Utilities	6.04%
2	AMLP	ALPS ETF TR	Unclassified	5.48%
3	BIL	SPDR SERIES TRUST	Unclassified	5.45%
4	GOOG	Alphabet Inc.	Communication Services	4.48%
5	NVDA	NVIDIA CORP	Information Technology	4.40%
6	WMB	WILLIAMS COMPANIES, INC.	Utilities	4.18%
7	MDT	Medtronic plc	Health Care	3.92%
8	GDX	VANECK ETF TRUST GOLD MINERS ETF	Unclassified	3.78%
9	GLD	SPDR GOLD TR	Unclassified	3.71%
10	ETR	ENTERGY CORP /DE/	Utilities	3.50%

204/346 names classified · sector 67.3% of weight · industry 66.5% · mkt cap 63.6%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 22 quarters

Information TechnologyMSFT, AAPL, NVDA, ORCL, CRM · other

UtilitiesLNG, WMB, NEE, CWEN, NFE · other

FinancialsICE, V, BFH, MTB, IREN · other

Real EstateAGNC, NLY, SPG, PSA, PLD · other

Communication ServicesGOOG, GOOGL, META, VZ, TMUS · other

Consumer DiscretionaryAMZN, FCFS, WMT, COST, HD · other

IndustrialsETN, LMT, AMN, BZH, LSTR · other

Health CareMRK, MDT, AMGN, GEHC, JNJ · other

MaterialsCCJ, FCX, KVUE, PG, MP · other

EnergyVET, EOG, AR, CVX, FANG · other

Consumer StaplesDAR, PEP, BGS, PM, KO · other

UnclassifiedAMLP, GLD, Bunge Ltd, QTEC, REM · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 67.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (167 classified)FWL INVESTMENT MANAGEMENT, LLC centroid (Large Core)

Information TechnologyUtilitiesIndustrialsHealth CareCommunication ServicesConsumer DiscretionaryFinancialsEnergyMaterialsConsumer StaplesReal Estate

Style box summary for FWL INVESTMENT MANAGEMENT, LLC: centroid Large Core. Heaviest cells: Large Growth 20.6%, Mid Core 10.5%, Large Core 9.8%.

Classified: 58.4% of book weight (167/346 names) · unclassified 41.6%: AMLP, BIL, GDX, GLD, CCJ, COPX, IBN, AGNC, EWY, IREN +169 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 346 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	LNGCheniere Energy, Inc	96,915	$28M	6.0%	ADD 12%
2	AMLPALPS ETF TR	474,255	$25M	5.5%	ADD 21%
3	BILSPDR SERIES TRUST	270,947	$25M	5.5%	ADD 68%
4	GOOGALPHABET INC	71,175	$20M	4.5%	TRIM −5%
5	NVDANVIDIA CORPORATION	114,911	$20M	4.4%	ADD 32%
6	WMBWILLIAMS COS INC	261,577	$19M	4.2%	ADD 12%
7	MDTMEDTRONIC PLC	206,090	$18M	3.9%	ADD 95%
8	GDXVANECK ETF TRUST GOLD MINERS ETF	187,556	$17M	3.8%	TRIM −25%
9	GLDSPDR GOLD TR	39,321	$17M	3.7%	TRIM −11%
10	ETRENTERGY CORP NEW	142,000	$16M	3.5%	ADD 37%
11	MUMICRON TECHNOLOGY INC	42,810	$14M	3.2%	TRIM −23%
12	CCJCAMECO CORP	129,651	$14M	3.1%	TRIM −15%
13	COPXGLOBAL X FDS	183,761	$14M	3.1%	ADD 17%
14	MSFTMICROSOFT CORP	37,022	$14M	3.0%	HOLD
15	LSTRLANDSTAR SYS INC	82,399	$13M	2.9%	ADD 524%
16	CACICACI INTL INC	23,077	$13M	2.8%	ADD 11%
17	IBNICICI BANK LIMITED	397,433	$10M	2.3%	ADD 16%
18	AGNCAGNC Investment Corp	922,577	$9M	2.0%	TRIM −26%
19	URIUNITED RENTALS INC	9,926	$7M	1.6%	ADD 17625%
20	AAPLAPPLE INC	24,339	$6M	1.4%	TRIM −3%
21	EWYISHARES INC MSCI STH KOR ETF	48,645	$6M	1.3%	ADD 17%
22	QCOMQUALCOMM INC	45,477	$6M	1.3%	ADD 186%
23	IRENIREN LIMITED	162,469	$6M	1.2%	TRIM −32%
24	AMZNAMAZON COM INC	24,669	$5M	1.1%	TRIM −5%
25	NVTNVENT ELECTRIC PLC	42,269	$5M	1.1%	ADD 11%
26	CRCLCIRCLE INTERNET GROUP INC	52,063	$5M	1.1%	ADD 1735333%
27	KTOSKRATOS DEFENSE & SEC SOLUTIO	67,697	$5M	1.0%	ADD 64%
28	JPMJPMORGAN CHASE & CO	15,377	$5M	1.0%	ADD 8%
29	SHYISHARES TR	53,853	$4M	1.0%	ADD 331%
30	TSLATESLA INC	11,324	$4M	0.9%	ADD 41%
31	WMTWALMART INC	32,981	$4M	0.9%	HOLD
32	BRK.BBERKSHIRE HATHAWAY INC DEL	8,074	$4M	0.8%	HOLD
33	APTVAPTIV PLC	51,102	$4M	0.8%	NEW
34	URAGLOBAL X FDS	66,119	$3M	0.7%	ADD 8%
35	COSTCOSTCO WHSL CORP NEW	2,992	$3M	0.7%	HOLD
36	PLTRPALANTIR TECHNOLOGIES INC	18,061	$3M	0.6%	ADD 9%
37	CVXCHEVRON CORP NEW	12,626	$3M	0.6%	ADD 89%
38	QQQINVESCO QQQ TR	4,339	$3M	0.5%	HOLD
39	VVISA INC	7,413	$2M	0.5%	ADD 39%
40	GOOGLALPHABET INC	7,145	$2M	0.5%	HOLD
41	SILGLOBAL X FDS	21,464	$2M	0.4%	ADD 507%
42	SCHWSCHWAB CHARLES CORP	20,456	$2M	0.4%	TRIM −60%
43	GDGENERAL DYNAMICS CORP	5,424	$2M	0.4%	HOLD
44	GSGOLDMAN SACHS GROUP INC	2,080	$2M	0.4%	ADD 21%
45	IAUISHARES GOLD TR	19,090	$2M	0.4%	TRIM −24%
46	QTECFIRST TR EXCHANGE-TRADED FD	7,617	$2M	0.4%	ADD 2%
47	AMGNAMGEN INC	4,583	$2M	0.4%	HOLD
48	APDAIR PRODS & CHEMS INC	4,874	$1M	0.3%	HOLD
49	FPEIFIRST TR EXCH TRADED FD III	73,271	$1M	0.3%	ADD 3%
50	MLPAGLOBAL X FDS	24,374	$1M	0.3%	ADD 14%
51	JCIJOHNSON CONTROLS INTERNATION	9,380	$1M	0.3%	NEW
52	LLYELI LILLY & CO	1,289	$1M	0.3%	ADD 529%
53	IWFISHARES TR	2,675	$1M	0.3%	TRIM −10%
54	ABBVABBVIE INC	4,865	$1M	0.2%	ADD 309%
55	IVVISHARES TR	1,599	$1M	0.2%	ADD 6%
56	AZNASTRAZENECA PLC	4,506	$888,673	0.2%	NEW
57	PFFISHARES TR	28,719	$870,760	0.2%	ADD 33%
58	QQQMINVESCO EXCH TRADED FD TR II	3,490	$829,235	0.2%	HOLD
59	SLVISHARES SILVER TR	11,649	$793,763	0.2%	ADD 40069%
60	AEPAMERICAN ELEC PWR CO INC	6,000	$786,480	0.2%	NEW
61	PMPHILIP MORRIS INTL INC	4,690	$775,445	0.2%	ADD 3978%
62	AGIALAMOS GOLD INC NEW	16,687	$741,403	0.2%	TRIM −49%
63	AXPAMERICAN EXPRESS CO	2,328	$704,173	0.2%	ADD 432%
64	KOCOCA COLA CO	9,180	$698,139	0.2%	ADD 3602%
65	NLYANNALY CAPITAL MANAGEMENT IN	32,830	$694,355	0.2%	TRIM −15%
66	ROSTROSS STORES INC	3,200	$693,216	0.2%	NEW
67	DEDEERE & CO	1,224	$689,479	0.2%	NEW
68	XLUSELECT SECTOR SPDR TR	14,962	$686,606	0.2%	ADD 4%
69	SAPSAP SE	3,910	$669,431	0.1%	NEW
70	JNJJOHNSON & JOHNSON	2,677	$654,366	0.1%	ADD 395%
71	RTXRTX CORPORATION	3,309	$638,306	0.1%	ADD 1026%
72	CAHCARDINAL HEALTH INC	3,000	$633,930	0.1%	ADD 7400%
73	WTWWILLIS TOWERS WATSON PLC LTD	2,045	$594,482	0.1%	NEW
74	COWZPACER FDS TR	9,318	$582,956	0.1%	HOLD
75	WECWEC ENERGY GROUP INC	5,000	$578,850	0.1%	NEW
76	TELTE CONNECTIVITY PLC	2,757	$576,268	0.1%	ADD 5766%
77	HDHOME DEPOT INC	1,752	$576,168	0.1%	TRIM −75%
78	VGTVANGUARD WORLD FD	761	$530,965	0.1%	ADD 9%
79	VUGVANGUARD INDEX FDS	1,200	$524,148	0.1%	HOLD
80	DGXQUEST DIAGNOSTICS INC	2,600	$509,548	0.1%	NEW
81	GRIDFIRST TR EXCHANGE TRADED FD	3,056	$499,971	0.1%	TRIM −10%
82	AVGOBROADCOM INC	1,604	$496,454	0.1%	ADD 10%
83	VTVVANGUARD INDEX FDS	2,350	$461,070	0.1%	ADD 3%
84	BLKBLACKROCK INC	440	$423,152	0.1%	ADD 3900%
85	INDAISHARES TR	8,239	$385,915	0.1%	ADD 92%
86	ONEQFIDELITY COMWLTH TR	4,475	$379,972	0.1%	TRIM −4%
87	SPGIS&P GLOBAL INC	850	$361,539	0.1%	ADD 3300%
88	PGPROCTER AND GAMBLE CO	2,400	$346,656	0.1%	NEW
89	EDVVANGUARD WORLD FD	4,928	$320,074	0.1%	ADD 4%
90	SKYYFIRST TR EXCHANGE-TRADED FD	2,897	$316,836	0.1%	ADD 15%
91	REMISHARES TR	14,160	$304,006	0.1%	ADD 10%
92	SPTLSPDR SERIES TRUST	10,000	$263,000	0.1%	ADD 18%
93	MMM3M CO	1,805	$262,140	0.1%	HOLD
94	FQALFIDELITY COVINGTON TRUST	3,549	$257,657	0.1%	TRIM −4%
95	QUALISHARES TR	1,294	$248,202	0.1%	TRIM −5%
96	XARSPDR SERIES TRUST	953	$242,030	0.1%	ADD 4%
97	TOTLSSGA ACTIVE ETF TR	6,052	$240,446	0.1%	ADD 10%
98	METAMETA PLATFORMS INC	409	$234,001	0.1%	TRIM −84%
99	XLKSELECT SECTOR SPDR TR	1,754	$233,107	0.1%	HOLD
100	DGROISHARES CORE DIVIDEND GROWTH ETF	3,290	$230,892	0.1%	ADD 8%
101	XOMEXXON MOBIL CORP	1,210	$205,289	0.0%	ADD 17%
102	MLPXGLOBAL X FDS	2,715	$200,747	0.0%	ADD 10%
103	EWJISHARES INC	2,351	$198,500	0.0%	ADD 11%
104	AGGISHARES TR	1,963	$194,827	0.0%	TRIM −31%
105	PAVEGLOBAL X FDS	3,814	$193,787	0.0%	ADD 12%
106	EPIWISDOMTREE TR	4,706	$191,998	0.0%	ADD 14%
107	HACKAMPLIFY ETF TR	2,460	$184,720	0.0%	ADD 14%
108	KMIKINDER MORGAN INC DEL	5,500	$184,415	0.0%	HOLD
109	NEENEXTERA ENERGY INC	1,960	$182,045	0.0%	ADD 16%
110	SCHXSCHWAB U.S. LARGE-CAP ETF	7,050	$180,762	0.0%	HOLD
111	MRKMERCK & CO INC	1,499	$180,315	0.0%	ADD 7%
112	OKEONEOK INC NEW	1,865	$168,577	0.0%	ADD 15%
113	COFCAPITAL ONE FINL CORP	922	$168,200	0.0%	HOLD
114	VRTVERTIV HOLDINGS CO	670	$167,889	0.0%	TRIM −97%
115	MRVLMARVELL TECHNOLOGY INC	1,682	$166,602	0.0%	NEW
116	PWRQUANTA SVCS INC	302	$165,804	0.0%	HOLD
117	CSCOCISCO SYS INC	2,023	$156,965	0.0%	TRIM −18%
118	PSLVSPROTT ASSET MANAGEMENT LP	6,000	$146,340	0.0%	NEW
119	SPYSTATE STR SPDR S&P 500 ETF T	220	$143,075	0.0%	TRIM −7%
120	SOXQINVESCO EXCH TRADED FD TR II	2,379	$142,046	0.0%	ADD 10%
121	TSMTAIWAN SEMICONDUCTOR MFG LTD	413	$139,573	0.0%	ADD 4%
122	VOTVANGUARD INDEX FDS	518	$133,307	0.0%	HOLD
123	VONGVANGUARD SCOTTSDALE FDS	1,200	$131,628	0.0%	TRIM −25%
124	ARKGARK ETF TR	4,766	$125,918	0.0%	ADD 13%
125	GLDMWORLD GOLD TR	1,331	$123,370	0.0%	HOLD
126	IYFISHARES TR	1,048	$123,308	0.0%	TRIM −9%
127	ETNEATON CORP PLC	337	$120,645	0.0%	TRIM −99%
128	SHYGISHARES TR	2,848	$120,499	0.0%	ADD 9%
129	FLKRFRANKLIN TEMPLETON ETF TR	3,000	$119,610	0.0%	ADD 50%
130	CMSCMS ENERGY CORP	1,350	$104,733	0.0%	HOLD
131	AMTAMERICAN TOWER CORP	606	$104,583	0.0%	HOLD
132	TLTISHARES TR	1,185	$102,728	0.0%	HOLD
133	IMTMISHARES TR	2,116	$101,605	0.0%	HOLD
134	XLYSELECT SECTOR SPDR TR	926	$100,862	0.0%	ADD 44%
135	FTCSFIRST TR EXCHANGE-TRADED FD	1,063	$98,604	0.0%	TRIM −30%
136	UBERUBER TECHNOLOGIES INC	1,309	$94,156	0.0%	TRIM −13%
137	DDOMINION ENERGY INC	1,490	$92,112	0.0%	HOLD
138	KSAISHARES TR	2,190	$87,053	0.0%	ADD 9%
139	SDYSPDR SER TR	593	$86,542	0.0%	HOLD
140	ICEINTERCONTINENTAL EXCHANGE IN	535	$84,145	0.0%	HOLD
141	IAIISHARES TR	474	$77,821	0.0%	TRIM −21%
142	SGDMSPROTT ETF TRUST	1,000	$75,490	0.0%	HOLD
143	VCRVANGUARD WORLD FD	210	$75,396	0.0%	TRIM −29%
144	WRBBERKLEY W R CORP	1,125	$74,565	0.0%	TRIM −18%
145	PEPPEPSICO INC	478	$74,229	0.0%	HOLD
146	NNNEXTNAV INC	4,585	$73,452	0.0%	HOLD
147	GEHCGE HEALTHCARE TECHNOLOGIES I	1,023	$72,819	0.0%	TRIM −99%
148	FDNFIRST TR EXCHANGE-TRADED FD	291	$68,103	0.0%	HOLD
149	IJRISHARES TR	516	$64,144	0.0%	TRIM −4%
150	ARKQARK ETF TR	558	$62,747	0.0%	ADD 13%
151	VGLTVANGUARD SCOTTSDALE FDS	1,099	$60,855	0.0%	HOLD
152	WGMIVALKYRIE ETF TRUST II	1,735	$60,407	0.0%	ADD 6%
153	VOOVANGUARD INDEX FDS	100	$59,755	0.0%	TRIM −17%
154	ICLNISHARES TR	3,260	$59,625	0.0%	HOLD
155	MAMASTERCARD INCORPORATED	119	$59,460	0.0%	TRIM −14%
156	XYLXYLEM INC	479	$57,241	0.0%	ADD 26%
157	IWBISHARES TR	153	$54,554	0.0%	NEW
158	LQDISHARES TR	488	$53,187	0.0%	ADD 7%
159	DFIVDIMENSIONAL ETF TRUST	1,007	$53,149	0.0%	NEW
160	XLISELECT SECTOR SPDR TR	326	$52,724	0.0%	NEW
161	LOWLOWES COS INC	213	$50,411	0.0%	HOLD
162	SESEA LTD	599	$49,603	0.0%	NEW
163	NLRVANECK ETF TRUST	362	$48,215	0.0%	HOLD
164	MTUMISHARES TR	200	$47,998	0.0%	HOLD
165	ASMLASML HOLDING N V	36	$47,550	0.0%	ADD 3%
166	COPCONOCOPHILLIPS	356	$46,992	0.0%	ADD 100%
167	IHIISHARES TR	857	$45,721	0.0%	ADD 37%
168	TAT&T INC	1,549	$44,906	0.0%	TRIM −38%
169	SMHVANECK ETF TRUST	116	$44,474	0.0%	NEW
170	VFHVANGUARD WORLD FD	365	$44,096	0.0%	TRIM −33%
171	UTHRUnited Therapeutics Corp.	74	$43,881	0.0%	TRIM −47%
172	ISRGINTUITIVE SURGICAL INC	95	$43,794	0.0%	TRIM −2%
173	SYKSTRYKER CORPORATION	130	$42,717	0.0%	TRIM −50%
174	DUKDUKE ENERGY CORP NEW	324	$42,425	0.0%	TRIM −35%
175	PLDPROLOGIS INC.	320	$42,298	0.0%	TRIM −41%
176	PAGPPLAINS GP HLDGS L P	1,740	$42,247	0.0%	HOLD
177	IBMINTERNATIONAL BUSINESS MACHS	173	$41,933	0.0%	TRIM −11%
178	SPYVSPDR SERIES TRUST	735	$41,586	0.0%	HOLD
179	KGCKINROSS GOLD CORP	1,355	$41,355	0.0%	ADD 103%
180	FSLRFIRST SOLAR INC	200	$39,452	0.0%	ADD 100%
181	SDVYFIRST TR EXCHANGE TRADED FD	995	$39,233	0.0%	TRIM −5%
182	IYCISHARES TR	400	$38,768	0.0%	HOLD
183	VTIVANGUARD INDEX FDS	120	$38,497	0.0%	TRIM −64%
184	NFLXNETFLIX INC	400	$38,460	0.0%	TRIM −25%
185	AMATAPPLIED MATLS INC	112	$38,280	0.0%	TRIM −24%
186	FCGFIRST TR EXCHANGE-TRADED FD	1,145	$36,300	0.0%	ADD 54%
187	VZVERIZON COMMUNICATIONS INC	715	$35,893	0.0%	TRIM −4%
188	EWEDWARDS LIFESCIENCES CORP	440	$35,235	0.0%	HOLD
189	BABOEING CO	177	$35,228	0.0%	HOLD
190	FLGBFRANKLIN TEMPLETON ETF TR	1,003	$34,864	0.0%	NEW
191	PFGPRINCIPAL FINANCIAL GROUP IN	380	$34,242	0.0%	HOLD
192	GNRCGENERAC HLDGS INC	175	$34,183	0.0%	ADD 25%
193	SOSOUTHERN CO	350	$33,782	0.0%	TRIM −44%
194	CRWDCROWDSTRIKE HLDGS INC	85	$33,185	0.0%	TRIM −20%
195	IWMISHARES TR	132	$32,736	0.0%	HOLD
196	DWASINVESCO EXCH TRADED FD TR II	332	$32,727	0.0%	HOLD
197	NETCLOUDFLARE INC	158	$32,602	0.0%	TRIM −37%
198	SHOPSHOPIFY INC	270	$32,027	0.0%	TRIM −10%
199	VSTVISTRA CORP	213	$32,020	0.0%	HOLD
200	OEFISHARES TR	100	$31,807	0.0%	HOLD

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

LNGCheniere Energy, Inc

50K

67K

64K

74K

86K

97K

$28M

AMLPALPS ETF TR

217K

236K

253K

341K

392K

474K

$25M

BILSPDR SERIES TRUST

56K

72K

147K

132K

161K

271K

$25M

GOOGALPHABET INC

75K

81K

76K

77K

75K

71K

$20M

NVDANVIDIA CORPORATION

65K

74K

77K

81K

87K

115K

$20M

WMBWILLIAMS COS INC

147K

166K

163K

204K

234K

262K

$19M

MDTMEDTRONIC PLC

—

41K

54K

96K

106K

206K

$18M

GDXVANECK ETF TRUST GOLD MINERS ETF

336K

284K

253K

264K

250K

188K

$17M

GLDSPDR GOLD TR

42K

45K

42K

44K

39K

$17M

ETRENTERGY CORP NEW

—

93K

103K

142K

$16M

MUMICRON TECHNOLOGY INC

14K

25K

61K

56K

43K

$14M

CCJCAMECO CORP

107K

145K

153K

149K

153K

130K

$14M

COPXGLOBAL X FDS

75K

157K

184K

$14M

MSFTMICROSOFT CORP

31K

32K

33K

37K

$14M

LSTRLANDSTAR SYS INC

—

13K

82K

$13M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆FWL INVESTMENT MANAGEMENT, LLC

Implied return what this book implies · modeled, not advice methodology →

Exposures · what this manager owns, by sector & size (2026-Q1)

By sector

By market cap

By region

By industry group GICS — finer than sector

Top holdings

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Contribution holdings-based, any period

Holdings· 346 positions (2026-Q1) · largest first · Δ vs 2025-Q4

Position trends· top 15 holdings · shares held over 6 quarters

Related· where to look next

FWL INVESTMENT MANAGEMENT, LLC