1. The article recommends three non-REIT 'SWAN' (Sleep Well At Night) stocks for passive income: a midstream energy company (OKE), a utility (ES), and a financial services firm (PNC). 2. These stocks are undervalued by 9% to 16% relative to fair value estimates, offer an average 4.5% dividend yield, and have strong BBB to A- credit ratings. 3. Each has potential upside of 10-20%+ over the next year due to fundamentals and stable dividend histories.