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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

FWL INVESTMENT MANAGEMENT, LLC

Quarter ended Q1 2025 · Filed May 15, 2025 · Accession 0001999371-25-006122

Total Value
$269.2M
Positions
291
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (291)

#IssuerTicker / CUSIPSharesValue% of Filing
1CHENIERE ENERGY INCLNG66,916$15.5M5.75%
2VANECK VECTORS ETF TR92189F106284,206$13.1M4.85%
3SPDR GOLD TRUSTGLD45,202$13.0M4.84%
4ALPHABET INCGOOG81,087$12.7M4.71%
5ALERIAN MLP ETF00162Q452235,596$12.2M4.55%
6MICROSOFT CORPMSFT31,442$11.8M4.39%
7ISHARES TR464288810188,759$11.4M4.22%
8ORACLE CORPORCL-PD74,461$10.4M3.87%
9CYBERARK SOFTWARE LTDM2682V10829,607$10.0M3.72%
10WILLIAMS COS INC DEL969457100166,418$9.9M3.69%
11EATON CORP PLCETN33,092$9.0M3.34%
12ICICI BK LTDIBN275,507$8.7M3.23%
13NVIDIA CORPNVDA73,586$8.0M2.96%
14AMAZON COM INCAMZN39,324$7.5M2.78%
15APPLE INCAAPL30,015$6.7M2.48%
16SPDR SER TR78468R66372,350$6.6M2.47%
17AGNC INVT CORP00123Q104632,707$6.1M2.25%
18CAMECO CORPCCJ144,791$6.0M2.21%
19CACI INTL INC12719030413,650$5.0M1.86%
20BERKSHIRE HATHAWAY INC DELBRK-A8,600$4.6M1.70%
21INVESCO QQQ TRIVZ9,336$4.4M1.63%
22SCHWAB CHARLES CORP NEWSCHW-PJ54,734$4.3M1.59%
23JPMORGAN CHASE & COVYLD15,182$3.7M1.38%
24MEDTRONIC PLCMDT40,964$3.7M1.37%
25WALMART INCWMT38,088$3.3M1.24%
26COSTCO WHSL CORP NEW22160K1053,054$2.9M1.07%
27FLAGSTAR FINANCIAL INC COM NEWFLG-PU247,377$2.9M1.07%
28HOME DEPOT INCHD7,548$2.8M1.03%
29GLOBAL X FDS37954Y87197,140$2.2M0.83%
30VISA INCV6,087$2.1M0.79%
31UNITEDHEALTH GROUP INCUNH4,025$2.1M0.78%
32CHUBB LIMITEDCB6,516$2.0M0.73%
33VANECK VECTORS ETF TR92189F60124,527$1.8M0.67%
34PROCTER AND GAMBLE CO74271810910,223$1.7M0.65%
35ACCENTURE PLC IRELANDACN5,517$1.7M0.64%
36AIR PRODS & CHEMS INCAIIR5,616$1.7M0.62%
37ISHARES GOLD TRUSTIAU25,616$1.5M0.56%
38GENERAL DYNAMICS CORPGD5,458$1.5M0.55%
39AMGEN INCAMGN4,688$1.5M0.54%
40FIRST TR EXCH TRADED FD III33739P85573,024$1.4M0.51%
41FIRST TR NASDAQ100 TECH INDE3373451027,591$1.3M0.49%
42ISHARES TR4642872002,290$1.3M0.48%
43ISHARES TR4642876143,550$1.3M0.48%
44PALANTIR TECHNOLOGIES INC CL APLTR15,169$1.3M0.48%
45MICRON TECHNOLOGY INCMU14,394$1.3M0.46%
46ALAMOS GOLD INC NEWAGI43,518$1.2M0.43%
47INVESCO NASDAQ 100 ETFIVZ5,799$1.1M0.42%
48VERTIV HOLDINGS CO COM CL AVRT12,973$936,6510.35%
49ALPHABET INCGOOG5,963$922,0810.34%
50KRATOS DEFENSE & SEC SOLUTIO50077B20729,773$883,9600.33%
51TESLA INCTSLA3,079$797,9540.30%
52ISHARES TR4642874578,468$700,5580.26%
53IREN LIMITED ORDINARY SHARESIREN109,791$668,6270.25%
54ANNALY CAPITAL MANAGEMENT INC COM NEWNLY-PJ29,986$609,0160.23%
55FIDELITY COMWLTH TR3159128088,355$568,6830.21%
56TEMPUS AI INC CL ATEM11,741$566,3860.21%
57ISHARES TR46428868716,427$504,8020.19%
58VANGUARD INDEX FDS9229087442,688$464,3250.17%
59BRINKER INTL INC1096411003,044$453,7080.17%
60VANGUARD INDEX FDS9229087361,200$444,9840.17%
61SELECT SECTOR SPDR TR81369Y8865,549$437,5390.16%
62ISHARES TR46435G34218,891$423,9040.16%
63PACER FDS TR69374H8817,698$421,5600.16%
64FIDELITY3160927906,487$416,2060.15%
65FREEPORT-MCMORAN INCFCX10,056$380,7200.14%
66VANGUARD WORLD FDS92204A702697$378,0390.14%
67ISHARES TR46434V6215,853$361,5980.13%
68MERCK & CO INCMRK3,195$286,7830.11%
69VANGUARD WORLD FD9219107093,915$278,3960.10%
70FIRST TR EXCH TRADED FD II33737A1082,397$271,2170.10%
71ISHARES TR46432F3391,572$268,6390.10%
72GLOBAL X MLP ETF37954Y3434,999$266,0840.10%
73ABBVIE INCABBV1,259$263,7860.10%
74FIRST TR EXCHANGE TRADED FD33734X1922,460$251,5050.09%
75PUBLIC STORAGEPSA-PS727$217,5840.08%
76WISDOMTREE TRWT4,975$217,4500.08%
77VANGUARD SCOTTSDALE FDS92206C6802,274$211,0040.08%
78FIRST TR EXCHANGE TRADED FD33733E1042,297$205,9030.08%
79ISHARES TR4642872262,012$199,0750.07%
80SELECT SECTOR SPDR TR81369Y803902$186,2450.07%
81RIOT BLOCKCHAIN INCRIOT25,800$183,6960.07%
82INVESCO EXCHNG TRADED FD TRIVZ16,000$179,5200.07%
83BROADCOM INCAVGO1,040$174,1270.06%
84SCHWAB STRATEGIC TR8085242017,367$162,6630.06%
85KINDER MORGAN INC DELEP-PC5,681$162,0790.06%
86AMPLIFY CYBERSECURITY ETF0321086642,222$159,5380.06%
87ONEOK INC NEWOKE1,607$159,4470.06%
88DISCOVER FINL SVCS254709108905$154,4840.06%
89ISHARES TR4642874991,809$153,8920.06%
90SSGA ACTIVE ETF TR78467V8483,744$150,8460.06%
91ISHARES INC46434G8222,187$149,9180.06%
92ISHARES TR4642877881,308$147,6080.05%
93SELECT SECTOR SPDR TR81369Y6052,873$143,1010.05%
94AMERICAN TOWER CORP NEW03027X100636$138,3940.05%
95ISHARES TR4642871681,015$136,3040.05%
96GLOBAL X FDS37954Y6733,512$132,5050.05%
97VANGUARD INDEX FDS922908538518$126,7240.05%
98SPDR SERIES TRUST78464A631768$123,3990.05%
99SPDR S&P 500 ETF TRSPY217$121,3880.05%
100LILLY ELI & COLLY146$120,5830.04%
101VANGUARD WORLD FDS92204A108367$119,4620.04%
102CISCO SYS INCCSCO1,933$119,2850.04%
103FACEBOOK INCMETA203$117,0010.04%
104SALESFORCE COM INCCRM422$113,2480.04%
105UBER TECHNOLOGIES INC COMUBER1,547$112,7140.04%
106CMS ENERGY CORPCMS-PC1,500$112,6650.04%
107EXPEDIA GROUP INCEXPE660$110,9460.04%
108ISHARES TR4642878041,059$110,7760.04%
109JOHNSON & JOHNSONJNJ647$107,2980.04%
110GLOBAL X MLP & ENERGY INFRASTRUCTURE ETF37954Y2931,650$105,2870.04%
111W R BERKLEY CORPORATIONWRB-PH1,475$104,9610.04%
112SPDR GOLD MINISHARES TRUSTGLDW1,600$99,0240.04%
113ISHARES TR4642874321,065$96,9470.04%
114TRANSDIGM GROUP INCTDG70$96,8300.04%
115INVESCO PHLX SEMICONDUCTOR ETFIVZ2,855$96,0810.04%
116SPDR SERIES TRUST78464A6643,500$95,4100.04%
117NEXTERA ENERGY INCNEE-PW1,320$93,5750.03%
118EXXON MOBIL CORPXOM736$87,5320.03%
119FIRST TR EXCHANGE TRADED FD33741X1022,532$84,8220.03%
120ISHARES TR46434V4492,116$84,5080.03%
121GLOBAL X FDS37954Y8302,162$84,4790.03%
122SPDR SERIES TRUST78464A763604$81,9510.03%
123AMERICAN EXPRESS COAXP300$80,7150.03%
124DOMINION ENERGY INCD1,390$77,9370.03%
125INTERCONTINENTAL EXCHANGE IN45866F104450$77,6250.03%
126QUANTA SVCS INC74762E102302$76,7620.03%
127SELECT SECTOR SPDR TR81369Y407375$74,0480.03%
128VANGUARD SCOTTSDALE FDS92206C8471,258$72,4940.03%
129LOWES COS INC548661107310$72,2830.03%
130ADVANCED MICRO DEVICES INCAMD702$72,1230.03%
131PEPSICO INCPEP478$71,6710.03%
132JPMORGAN BETABUILDERS USD INVESTMENT GRADE CORPORATE BOND ETF46641Q4491,568$71,2220.03%
133INVESCO EXCHANGE TRADED FD TIVZ1,051$69,7380.03%
134MASTERCARD INCORPORATEDMA125$68,5150.03%
135VISTRA ENERGY CORPVST580$68,1150.03%
136ISHARES TR46429B5981,317$67,7990.03%
137VANGUARD WORLD FDS92204A405544$64,9920.02%
138STRYKER CORPSYK160$59,5600.02%
139VANGUARD INDEX FDS922908363115$59,1000.02%
140APOLLO GLOBAL MGMT INC COM03769M106381$52,1740.02%
141INVESCO EXCHANGE TRADED FD TIVZ1,500$51,3000.02%
142ISHARES TR464287523243$45,7250.02%
143ABBOTT LABSABLZF334$44,3050.02%
144ISHARES TR464287242388$42,1720.02%
145VANGUARD INDEX FDS922908769153$42,0510.02%
146TRAVELERS COMPANIES INCTRV150$39,6690.01%
147DUKE ENERGY CORP NEWDUKB324$39,5180.01%
148ISHARES TR464287507665$38,8030.01%
149SPROTT GOLD MINERS ETFSII1,000$37,9400.01%
150SPROUTS FMRS MKT INC85208M102247$37,7020.01%
151SPDR SERIES TRUST78464A508735$37,5360.01%
152POOL CORPORATIONPOOL115$36,6100.01%
153PROLOGIS INCPLDGP320$35,7730.01%
154ISHARES TR464287580400$35,3300.01%
155AT&T INCT-PC1,248$35,2930.01%
156MERCADOLIBRE INCMELI18$35,1160.01%
157UNITED RENTALS INCURI56$35,0950.01%
158ISHARES TR464287796705$34,7570.01%
159MANULIFE FINL CORP56501R1061,066$33,2060.01%
160TAIWAN SEMICONDUCTOR MFG LTD874039100200$33,2000.01%
161SOUTHERN COSOMN350$32,1830.01%
162REGAN FLOATING RATE MBS ETF92046L3381,255$31,9470.01%
163EDWARDS LIFESCIENCES CORPEW440$31,8910.01%
164NOVO-NORDISK A SNONOF457$31,7340.01%
165PNC FINL SVCS GROUP INC693475105180$31,6390.01%
166COINSHARES VALKYRIE BITCOIN MINERS ETF91917A2072,445$31,2200.01%
167PALO ALTO NETWORKS INCPANW181$30,8860.01%
168ISHARES TR4642882242,675$30,5490.01%
169BOEING COBA-PA177$30,1870.01%
170BUILDERS FIRSTSOURCE INCBLDR239$29,8610.01%
171VANGUARD INDEX FDS922908751130$28,8280.01%
172CINTAS CORPCTAS140$28,7740.01%
173SHOPIFY INCSHOP300$28,6440.01%
174SELECT SECTOR SPDR TR81369Y860648$27,1190.01%
175ISHARES TR464287101100$27,0830.01%
176FIRST TR EXCH TRADED FD III33739P301546$26,1020.01%
177INVESCO EXCHNG TRADED FD TRIVZ332$25,9160.01%
178ILLINOIS TOOL WKS INC452308109100$24,8010.01%
179PHILLIPS 66PSX200$24,6960.01%
180FIRST TR EXCHANGE TRADED FD33733E302111$24,6590.01%
181VANGUARD SCOTTSDALE FDS92206C102414$24,3200.01%
182ASML HOLDING N VASMLF35$23,1920.01%
183CADENCE DESIGN SYSTEM INCCDNS91$23,1440.01%
184MARATHON PETE CORPMARA155$22,5820.01%
185THERMO FISHER SCIENTIFIC INCTMO45$22,3920.01%
186HOULIHAN LOKEY INCHLI138$22,2870.01%
187VANGUARD WORLD FDS92204A60389$22,0320.01%
188VERTEX PHARMACEUTICALS INCVRTX45$21,8170.01%
189ISHARES TR464287812300$21,4710.01%
190INTERNATIONAL BUSINESS MACHSINTR85$21,1360.01%
191SHAKE SHACK INCSHAK225$19,8380.01%
192ISHARES TR46428768960$19,0580.01%
193INFOSYS LTDINFY1,003$18,3050.01%
194ISHARES TR464287762300$18,2670.01%
195EMERSON ELEC COEMR165$18,0910.01%
196GENERAC HLDGS INCGNRC140$17,7310.01%
197TARGET CORPTGT167$17,4280.01%
198VANGUARD WORLD FDS92204A884115$17,0920.01%
199FIDELITY316092618345$16,5740.01%
200VERIZON COMMUNICATIONS INCVZ361$16,3750.01%
201APPLIED MATLS INC038222105112$16,2530.01%
202CONSTELLATION ENERGY CORP COMCEG80$16,1300.01%
203NETFLIX INCNFLX16$14,9200.01%
204ROPER TECHNOLOGIES INCROP25$14,7400.01%
2053M COMMM100$14,6860.01%
206SPDR SERIES TRUST78464A805213$14,4860.01%
207FT VEST RISING DIVIDEND ACHIEVERS TARGET INCOME ETF33738D879587$13,9240.01%
208COINBASE GLOBAL INC COM CL ACOIN80$13,7780.01%
209B & G FOODS INC NEWBGS2,000$13,7400.01%
210FIRST TR EXCHANGE TRADED FD33733E807550$13,6670.01%
211SELECT SECTOR SPDR TR81369Y506145$13,5500.01%
212S&P GLOBAL INCSPGI25$12,7030.00%
213ISHARES TR464288836180$12,7010.00%
214JOHN HANCOCK EXCHANGE TRADED47804J206220$12,6060.00%
215ENOVIX CORPORATION COMENVX1,650$12,1110.00%
216ISHARES TR464288646230$12,0450.00%
217JP MORGAN EXCHANGE TRADED FD46641Q837232$11,7460.00%
218VANECK CLO ETF92189H748216$11,4130.00%
219ISHARES INC46434G764203$11,1830.00%
220PUTNAM FOCUSED LARGE CAP VALUE ETF746729300291$11,0810.00%
221DANAHER CORP DEL23585110249$10,0450.00%
222STARWOOD PPTY TR INCSTHO500$9,8850.00%
223GRAYSCALE BITCOIN TRUST ETFGBTC150$9,7760.00%
224DOLLAR GEN CORP NEW256677105110$9,6720.00%
225DIMENSIONAL U.S. SMALL CAP ETF25434V500161$9,6200.00%
226QUALCOMM INCQCOM61$9,3700.00%
227BOOKING HLDGS INCBKNG2$9,2140.00%
228ISHARES TR46428755671$9,0810.00%
229SAP SESAPGF33$8,8590.00%
230VANGUARD INTL EQUITY INDEX F922042858195$8,8280.00%
231RB GLOBAL INC COMRBA87$8,7260.00%
232JANUS HENDERSON AAA CLO ETF47103U845171$8,6710.00%
233HARTFORD FDS EXCHANGE TRADE41653L404435$8,3390.00%
234ISHARES TR46428751593$8,2760.00%
235ISHARES TR464287465100$8,1730.00%
236INVESCO EXCHANGE TRADED FD TIVZ45$7,7950.00%
237SPDR SERIES TRUST78464A87095$7,7050.00%
238SCHWAB STRATEGIC TR808524755213$7,6820.00%
239HARTFORD FINL SVCS GROUP INCHIG-PG60$7,4240.00%
240ARK ETF TR00214Q302325$6,7470.00%
241UBS GROUP AGUBS219$6,7080.00%
242ISHARES TR46434V407155$6,5910.00%
243JP MORGAN EXCHANGE TRADED FD46641Q779107$6,0360.00%
244ISHARES TR46428765530$5,9850.00%
245GLOBAL X CLOUD COMPUTING ETF37954Y442280$5,8770.00%
246AVANTIS U.S. LARGE CAP VALUE ETF02507234989$5,8040.00%
247SOUTHERN COPPER CORPSCCO60$5,6080.00%
248FT VEST U.S. EQUITY ENHANCE & MODERATE BUFFER ETF - DECEMBER33740U786150$5,5190.00%
249SPDR INDEX SHS FDS78463X889151$5,4980.00%
250TKO GROUP HOLDINGS INC CL ATKO35$5,3480.00%
251FISERV INCFISV21$4,6370.00%
252ALPS/SMITH CORE PLUS BOND ETF00162Q346178$4,6200.00%
253ISHARES TR46428767136$4,5750.00%
254SELECT SECTOR SPDR TR81369Y20930$4,3800.00%
255BLACK STONE MINERALS L PBSMLP285$4,3520.00%
256EQUINIX INCEQIX5$4,0770.00%
257RECURSION PHARMACEUTICALS INC CL ARXRX770$4,0730.00%
258SERVICENOW INCNOW5$3,9810.00%
259AVANTIS INTERNATIONAL EQUITY ETF02507270359$3,9130.00%
260GE AEROSPACE COM NEW36960430119$3,8030.00%
261INTUITINTU6$3,6840.00%
262SPDR SERIES TRUST78464A83945$3,4370.00%
263CRISPR THERAPEUTICS AGCRSP100$3,4030.00%
264PROGRESSIVE CORP OHIO74331510312$3,3960.00%
265KKR & CO INC COMKKRT29$3,3530.00%
266SPDR INDEX SHS FDS78463X20260$3,2650.00%
267VANGUARD INDEX FDS92290861117$3,1670.00%
268GRAINGER W W INC3848021043$2,9630.00%
269ADOBE SYS INCADBE6$2,3010.00%
270ISHARES TR46428747318$2,2670.00%
271AUTOMATIC DATA PROCESSING INADP7$2,1390.00%
272ISHARES TR46429B69722$2,0960.00%
273MCKESSON CORPMCK3$2,0190.00%
274ANGEL OAK ULTRASHORT INCOME ETF03463K75238$1,9450.00%
275SOLVENTUM CORP COM SHSSOLV25$1,9010.00%
276PIMCO ETF TR72201R78320$1,8730.00%
277CALAMOS STRATEGIC TOTL RETNCSQ115$1,8610.00%
278INDIA FD INC454089103115$1,8140.00%
279SPDR SERIES TRUST78464A47452$1,5650.00%
280VERALTO CORP COM SHSVLTO16$1,5590.00%
281SPDR SERIES TRUST78464A20117$1,4110.00%
282SPDR SERIES TRUST78464A30017$1,3330.00%
283ISHARES TR46428858811$1,0320.00%
284SPDR SER TR78468R40839$9810.00%
285FRANKLIN TEMPLETON ETF TRFGDL47$9550.00%
286FIRST TR EXCHANGE TRADED FD33738R72015$6100.00%
287CORE SCIENTIFIC INC NEW COM21874A10680$5790.00%
288GRAYSCALE ETHEREUM MINI TRUST ETF38964R20315$2580.00%
289KENVUE INC COMKVUE8$1920.00%
290AECOMACM0$00.00%
291PHILLIPS EDISON & CO INC COMMON STOCKPECO0$00.00%