FWL INVESTMENT MANAGEMENT, LLC

Registered adviser

CIK

1829231

Location

Dallas, TX

Portfolio Value

Small $505,050,966

Diversification

Diversified

Filing Date

Global Rank

#3,786 / 8,815 ▲ 96

Top Industry

Semiconductors 18.9%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

23 quarters · since Dec 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 174119

Roster of Oct 1, 2026

Regulatory AUM

$1,240,034,033

Main clients

Other investment advisers (68% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$1,240,034,033	Other investment advisers (68%)
Apr 2025 to Mar 2026	$805,713,943	Other investment advisers (58%)
Apr 2024 to Mar 2025	$603,954,035	Other investment advisers (60%)
May 2023 to Mar 2024	$573,137,124	Other investment advisers (62%)
Apr 2023	$573,137,124	Other investment advisers (62%)
Apr 2022 to Mar 2023	$567,308,420	Other investment advisers (60%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 46.2%, 32.7 effective positions, active share 69.2% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

49.1% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 12.1 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 69.2%; sector active share 25.9% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

501 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

6.4%

−0.1 pts

Top 5

27.4%

+0.3 pts

Top 10

46.2%

−1.4 pts

HHI

305

Diversified−20

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	25.0%	$126,151,830	169
Technology	23.2%	$117,094,516	64
Energy	14.3%	$71,992,895	26
Industrials	7.7%	$38,989,843	54
Financial Services	6.3%	$31,809,225	55
Communication Services	5.8%	$29,046,625	10
Healthcare	5.4%	$27,235,157	33
Utilities	4.0%	$20,384,572	20
Consumer Cyclical	3.7%	$18,775,253	28
Real Estate	2.6%	$13,127,653	13
Consumer Defensive	1.7%	$8,334,798	15
Basic Materials	0.4%	$2,108,599	14

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AGNC	AGNC Investment Corp.	+164,299	1,086,876	$11,846,948
SLV	iShares Silver Trust	+100,742	112,391	$6,009,546
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	+94,998	95,070	$15,044,827
APTV	Aptiv PLC	+41,244	92,346	$5,668,197
JCI	Johnson Controls International plc	+39,146	48,526	$7,090,133
AMLP	Alerian MLP ETF	+29,271	503,526	$0
CVX	Chevron Corp	+20,302	32,928	$5,458,145
SIL	Global X Silver Miners ETF	+20,301	41,765	$3,235,116
IREN	IREN Ltd	+17,467	179,936	$8,228,473
URA	Global X Uranium ETF	+17,403	83,522	$3,649,911
CDNS	Cadence Design Systems Inc	+17,160	17,251	$6,474,645
NLY	Annaly Capital Management Inc	+16,964	49,794	$1,113,393
QCOM	Qualcomm Inc	+15,230	60,707	$11,218,046
LLY	ELI LILLY & Co	+14,575	15,864	$19,027,759
SHY	iShares 1-3 Year Treasury Bond ETF	+13,879	67,732	$5,561,474
CCJ	Cameco Corp	+12,951	142,602	$14,525,439
NVDA	Nvidia Corp	+12,763	127,674	$25,546,290
—		+12,663	283,610	$25,990,020
COPX	Global X Copper Miners ETF	+10,367	194,128	$14,942,032
LNG	Cheniere Energy, Inc.	+10,273	107,188	$25,619,003
IWF	iShares Russell 1000 Growth ETF	+8,025	10,700	$1,328,619
VST	Vistra Corp.	+7,781	7,994	$1,268,088
VUG	VANGUARD GROWTH INDEX FUND	+6,000	7,200	$620,208
WMB	Williams Companies, Inc.	+5,373	266,950	$19,845,063
ETR	Entergy Corp	+4,976	146,976	$16,881,663
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
IBN	Icici Bank Ltd	−395,280	2,153	$62,501
MDT	Medtronic plc	−173,774	32,316	$2,528,080
GDX	VanEck Gold Miners ETF	−24,613	162,943	$12,294,049
KTOS	Kratos Defense & Security Solutions, Inc.	−19,960	47,737	$2,380,166
MU	Micron Technology Inc	−14,815	27,995	$32,314,348
URI	United Rentals, Inc.	−9,907	19	$21,524
MSFT	Microsoft Corp	−8,878	28,144	$10,498,274
CACI	Caci International Inc	−8,572	14,505	$6,719,586
INDA	iShares MSCI India ETF	−7,675	564	$27,855
EWY	iShares Trust	−4,670	43,975	$0
CRCL	Circle Internet Group, Inc.	−4,376	47,687	$2,986,636
AGI	Alamos Gold Inc	−4,180	12,507	$379,462
SCHW	Schwab Charles Corp	−2,952	17,504	$1,615,094
—		−2,856	41	$5,516
DGX	Quest Diagnostics Inc	−2,583	17	$3,603
FPEI	First Trust Institutional Preferred Securities and Income ETF	−2,471	70,800	$1,365,732
HACK		−2,382	78	$8,184
REM	iShares Mortgage Real Estate ETF	−2,063	12,097	$266,738
KSA	iShares MSCI Saudi Arabia ETF	−1,940	250	$9,327
WMT	Walmart Inc.	−1,331	31,650	$3,584,679
IAU	Ishares Gold Trust	−1,250	17,840	$1,347,098
—		−1,228	3,538	$148,808
COWZ	Pacer US Cash Cows 100 ETF	−890	8,428	$524,221
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	−732	194	$22,752
MRK	Merck & Co., Inc.	−633	866	$111,281
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
ENTG	Entegris Inc	55,850	$10,045,181
FANG	Diamondback Energy, Inc.	31,851	$5,598,768
MGM	MGM Resorts International	9,338	$446,449
TLN	Talen Energy Corp	873	$335,458
TRGP	Targa Resources Corp.	767	$205,663
SCHG	Schwab U.S. Large-Cap Growth ETF	3,952	$133,735
TFLO	iShares Treasury Floating Rate Bond ETF	2,510	$127,081
COR	Cencora, Inc.	420	$118,851
IYT	iShares U.S. Transportation ETF	1,222	$106,008
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	1,192	$104,752
CAT	Caterpillar Inc	98	$104,360
SCHO	Schwab Short-Term U.S. Treasury ETF	3,938	$95,063
—		2,381	$93,954
WPM	Wheaton Precious Metals Corp.	774	$86,935
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	545	$86,469
USDU	WisdomTree Bloomberg U.S. Dollar Bullish Fund	2,746	$73,455
RPV	Invesco S&P 500 Pure Value ETF	642	$73,072
CSQ	Calamos Strategic Total Return Fund	3,550	$72,988
DXJ	WisdomTree Japan Hedged Equity Fund	416	$72,184
ASHR	DBX ETF Trust	1,936	$70,973
LVHI	Franklin International Low Volatility High Dividend Index ETF	1,734	$70,374
TIP	iShares TIPS Bond ETF	643	$70,363
CB	Chubb Ltd	205	$69,851
RSG	Republic Services, Inc.	325	$69,251
VLO	Valero Energy Corp	254	$66,151
No positions match the current search.

Sold Out

Positions the filer fully exited

23 positions

Ticker	Company	Shares	Value
DE	Deere & Co	1,224	$689,479
PSLV	Sprott Physical Silver Trust	6,000	$146,340
ISRG	Intuitive Surgical Inc	95	$43,794
CLOI	VanEck CLO ETF	586	$30,882
TRMB	Trimble Inc.	400	$26,092
COIN	Coinbase Global, Inc.	144	$25,143
EOG	Eog Resources Inc	150	$21,685
ACGL	Arch Capital Group Ltd.	156	$14,974
JXN	Jackson Financial Inc.	76	$8,034
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp	248	$7,566
EG	Everest Group, Ltd.	21	$6,863
POWL	Powell Industries Inc	12	$6,492
NXST	Nexstar Media Group, Inc.	24	$4,339
LH	Labcorp Holdings Inc.	16	$4,268
CNX	CNX Resources Corp	106	$4,086
EXEL	Exelixis, Inc.	92	$3,945
OGE	Oge Energy Corp.	79	$3,788
MATX	Matson, Inc.	22	$3,606
PPC	Pilgrims Pride Corp	88	$3,322
PRDO	PERDOCEO EDUCATION Corp	87	$3,237
ESNT	Essent Group Ltd.	42	$2,454
NATL	NCR Atleos Corp	35	$1,525
VOD	Vodafone Group Public Ltd Co	33	$495
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

501 tracked positions · $505,050,966 total · filing declares 501 positions · $544,707,577 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 501 positions by value · page 1 of 11

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MU	Micron Technology Inc Technology	Reduced	27,995	-14,815	$32,314,348	+123.4%	8	$116.09	6.40%
GOOG	Alphabet Inc. Communication Services	Added	73,774	+2,599	$26,066,567	+27.7%	23	before history	5.16%
		Added	283,610	+12,663	$25,990,020	+4.7%	16	$91.55	5.15%
LNG	Cheniere Energy, Inc. Energy	Added	107,188	+10,273	$25,619,003	−6.8%	19	$185.72	5.07%
NVDA	Nvidia Corp Technology	Added	127,674	+12,763	$25,546,290	+27.5%	15	unpriced	5.06%
WMB	Williams Companies, Inc. Energy	Added	266,950	+5,373	$19,845,063	+4.2%	20	$47.13	3.93%
LLY	ELI LILLY & Co Healthcare	Added	15,864	+14,575	$19,027,759	+1504.9%	12	$1,017.24	3.77%
LSTR	Landstar System Inc Industrials	Added	85,567	+3,168	$17,696,111	+34.0%	3	$151.73	3.50%
ETR	Entergy Corp Utilities	Added	146,976	+4,976	$16,881,663	+5.8%	4	$92.62	3.34%
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	Added	95,070	+94,998	$15,044,827	+163501.9%	12	$135.15	2.98%
COPX	Global X Copper Miners ETF	Added	194,128	+10,367	$14,942,032	+6.5%	8	unpriced	2.96%
GLD	Spdr Gold Trust	Added	39,722	+401	$14,632,790	−13.5%	19	$200.33	2.90%
CCJ	Cameco Corp Energy	Added	142,602	+12,951	$14,525,439	+3.2%	8	$52.37	2.88%
GDX	VanEck Gold Miners ETF	Reduced	162,943	-24,613	$12,294,049	−28.6%	10	unpriced	2.43%
AGNC	AGNC Investment Corp. Real Estate	Added	1,086,876	+164,299	$11,846,948	+28.0%	23	before history	2.35%
QCOM	Qualcomm Inc Technology	Added	60,707	+15,230	$11,218,046	+91.5%	11	$162.85	2.22%
MSFT	Microsoft Corp Technology	Reduced	28,144	-8,878	$10,498,274	−23.4%	23	before history	2.08%
ENTG	Entegris Inc Technology	NEW	55,850	NEW	$10,045,181	NEW	1	$144.21	1.99%
IREN	IREN Ltd Financial Services	Added	179,936	+17,467	$8,228,473	+47.7%	7	$12.99	1.63%
NVT	nVent Electric plc Industrials	Added	44,938	+2,669	$7,621,934	+52.5%	4	$93.50	1.51%
JCI	Johnson Controls International plc Industrials	Added	48,526	+39,146	$7,090,133	+477.2%	2	$138.89	1.40%
AAPL	Apple Inc. Technology	Reduced	23,948	-391	$6,929,593	+12.2%	23	before history	1.37%
CACI	Caci International Inc Technology	Reduced	14,505	-8,572	$6,719,586	−46.5%	6	$434.89	1.33%
CDNS	Cadence Design Systems Inc Technology	Added	17,251	+17,160	$6,474,645	+25505.7%	11	$349.97	1.28%
SLV	iShares Silver Trust	Added	112,391	+100,742	$6,009,546	+657.1%	3	$67.30	1.19%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	24,617	-52	$5,867,215	+14.2%	23	before history	1.16%
APTV	Aptiv PLC Consumer Cyclical	Added	92,346	+41,244	$5,668,197	+59.7%	2	$69.96	1.12%
FANG	Diamondback Energy, Inc. Energy	NEW	31,851	NEW	$5,598,768	NEW	1	$194.00	1.11%
SHY	iShares 1-3 Year Treasury Bond ETF	Added	67,732	+13,879	$5,561,474	+25.1%	16	unpriced	1.10%
CVX	Chevron Corp Energy	Added	32,928	+20,302	$5,458,145	+108.9%	5	$178.13	1.08%
TSLA	Tesla, Inc. Consumer Cyclical	Added	12,817	+1,493	$5,390,830	+28.1%	12	$369.30	1.07%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	15,042	-335	$4,923,697	+8.9%	12	$216.75	0.97%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	7,572	-502	$3,788,953	−2.1%	23	before history	0.75%
GS	Goldman Sachs Group Inc Financial Services	Added	3,609	+1,529	$3,650,034	+107.4%	5	$818.92	0.72%
URA	Global X Uranium ETF	Added	83,522	+17,403	$3,649,911	+14.0%	11	unpriced	0.72%
WMT	Walmart Inc. Consumer Defensive	Reduced	31,650	-1,331	$3,584,679	−12.5%	12	$73.06	0.71%
SIL	Global X Silver Miners ETF	Added	41,765	+20,301	$3,235,116	+67.3%	4	unpriced	0.64%
QQQ	Invesco Qqq Trust, Series 1	Reduced	4,292	-47	$3,160,628	+26.2%	23	before history	0.63%
CRCL	Circle Internet Group, Inc. Financial Services	Reduced	47,687	-4,376	$2,986,636	−39.9%	4	$84.77	0.59%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	2,893	-99	$2,706,314	−9.2%	12	$849.27	0.54%
GOOGL	Alphabet Inc. Communication Services	Added	7,427	+282	$2,654,186	+29.2%	23	before history	0.53%
QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Added	7,621	+4	$2,550,672	+55.0%	23	before history	0.51%
MDT	Medtronic plc Healthcare	Reduced	32,316	-173,774	$2,528,080	−85.8%	6	$93.12	0.50%
V	Visa Inc. Financial Services	Reduced	7,237	-176	$2,482,942	+10.8%	9	$285.69	0.49%
KTOS	Kratos Defense & Security Solutions, Inc. Industrials	Reduced	47,737	-19,960	$2,380,166	−50.1%	11	$57.99	0.47%
PLTR	Palantir Technologies Inc. Technology	Added	18,808	+747	$2,194,329	−16.9%	9	$76.84	0.43%
GD	General Dynamics Corp Industrials	Reduced	5,212	-212	$1,846,298	−0.8%	9	$291.74	0.37%
SCHW	Schwab Charles Corp Financial Services	Reduced	17,504	-2,952	$1,615,094	−16.0%	12	$82.74	0.32%
AMGN	Amgen Inc Healthcare	Reduced	4,439	-144	$1,607,450	−0.3%	9	$319.80	0.32%
FPEI	First Trust Institutional Preferred Securities and Income ETF	Reduced	70,800	-2,471	$1,365,732	−1.9%	9	$18.69	0.27%

Showing the top 50 of 501 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.