Narwhal Capital Management

CIK

1461287

Location

MARIETTA, GA

Portfolio Value

Mid $1,098,934,420

Diversification

Diversified

Filing Date

Global Rank

#1,801 / 8,517 ▼ 128

Top Industry

Semiconductors 16.3%

3Y Alpha vs SPY

+21.4%

Period ended 48 days ago

Filed Jul 24, 2026 · 24d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+189.1%

SPY

+77.9%

Annualised alpha

+21.3%

Max drawdown

−17.6%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

9.1%

+1.4 pts

Top 5

31.5%

−0.1 pts

Top 10

46.1%

−0.7 pts

HHI

319

Diversified+10

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	33.3%	$365,792,190	19
Financial Services	13.3%	$146,374,415	12
Industrials	11.9%	$130,349,911	21
Consumer Cyclical	8.1%	$89,333,146	7
Healthcare	7.6%	$83,042,579	13
Unclassified	6.9%	$75,722,075	7
Basic Materials	4.8%	$52,552,689	4
Energy	4.2%	$45,852,090	10
Consumer Defensive	4.0%	$43,921,976	10
Communication Services	3.1%	$34,474,488	6
Utilities	1.9%	$20,989,969	5
Real Estate	1.0%	$10,528,892	2

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
NOW	ServiceNow, Inc.	+70,980	103,711	$10,296,428
GGG	Graco Inc	+23,155	90,559	$6,847,165
NFLX	Netflix Inc	+18,551	66,575	$4,753,455
SLB	Slb Limited/Nv	+16,422	131,518	$6,114,271
QCOM	Qualcomm Inc/De	+14,094	48,292	$8,923,878
CP	Canadian Pacific Kansas City Ltd/Cn	+13,491	126,466	$10,958,278
ICE	Intercontinental Exchange, Inc.	+9,700	61,878	$7,617,800
RELX	Relx PLC	+8,469	177,412	$5,618,638
RTX	RTX Corp	+8,039	80,241	$15,224,124
AMZN	Amazon Com Inc	+6,875	227,622	$54,251,427
NXRT	NexPoint Residential Trust, Inc.	+6,097	82,707	$2,309,179
AVGO	Broadcom Inc.	+5,900	41,122	$15,533,835
CSCO	Cisco Systems, Inc.	+3,569	192,141	$22,568,881
TMUS	T-Mobile US, Inc.	+3,395	5,189	$870,350
CVS	CVS HEALTH Corp	+2,510	6,646	$687,528
STZ	Constellation Brands, Inc.	+2,450	22,214	$3,089,745
GRMN	Garmin Ltd	+2,448	20,122	$4,779,779
AXP	American Express Co	+1,958	56,415	$19,082,373
ADI	Analog Devices Inc	+1,823	65,383	$25,968,166
TSLA	Tesla, Inc.	+1,394	7,913	$3,328,207
EPD	Enterprise Products Partners L.P.	+1,350	17,950	$659,842
ENTG	Entegris Inc	+1,257	48,096	$8,650,546
JBHT	Hunt J B Transport Services Inc	+1,089	2,112	$611,276
AAPL	Apple Inc.	+685	280,237	$81,089,378
GD	General Dynamics Corp	+642	38,504	$13,639,656
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
GOOGL	Alphabet Inc.	−285,417	845	$301,977
ABT	Abbott Laboratories	−44,218	27,594	$2,503,879
SBUX	Starbucks Corp	−24,454	63,274	$6,465,970
NEE	Nextera Energy Inc	−17,356	155,183	$13,620,411
PEP	Pepsico Inc	−12,204	43,887	$5,942,299
MRK	Merck & Co., Inc.	−11,872	99,503	$12,786,135
DPZ	Dominos Pizza Inc	−11,640	3,422	$1,013,048
BWXT	BWX Technologies, Inc.	−10,131	28,838	$5,613,316
BX	Blackstone Inc.	−8,636	63,897	$7,518,759
AVB	Avalonbay Communities Inc	−8,432	43,562	$8,219,713
V	Visa Inc.	−7,782	46,402	$15,920,062
ADBE	Adobe Inc.	−7,460	9,357	$1,918,372
XOM	ExxonMobil Holdings Corp	−7,328	112,375	$15,363,910
UL	Unilever PLC	−7,252	12,398	$745,367
LMT	Lockheed Martin Corp	−6,990	25,135	$12,805,277
PM	Philip Morris International Inc.	−6,367	57,529	$10,407,571
LHX	L3harris Technologies, Inc. /De/	−6,357	40,344	$11,723,562
MLI	Mueller Industries Inc	−6,325	52,481	$3,225,744
SUNB	Sunbelt Rentals Holdings, Inc.	−5,521	93,850	$7,020,918
INTC	Intel Corp	−5,411	5,384	$751,767
HCA	HCA Healthcare, Inc.	−4,566	6,813	$2,656,320
T	At&T Inc.	−3,500	50,228	$1,039,719
PG	PROCTER & GAMBLE Co	−3,380	86,077	$12,622,331
KR	Kroger Co	−2,780	9,143	$507,710
WMT	Walmart Inc.	−2,736	24,315	$2,753,916
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
AMRZ	Amrize Ltd	65,645	$3,498,878
DGX	Quest Diagnostics Inc	13,348	$2,829,108
ASML	Asml Holding NV	1,235	$2,456,958
SAIA	Saia Inc	2,366	$996,464
ADSK	Autodesk, Inc.	1,852	$360,065
IBIT	iShares Bitcoin Trust ETF	9,521	$316,954
LRCX	Lam Research Corp	500	$216,665
No positions match the current search.

Sold Out

Positions the filer fully exited

13 positions

Ticker	Company	Shares	Value
BTT	BlackRock Municipal 2030 Target Term Trust	357,067	$8,105,420
FTHY	First Trust High Yield Opportunities 2027 Term Fund	196,865	$2,663,583
BATRA	Atlanta Braves Holdings, Inc.	17,404	$743,150
VXF	Vanguard Extended Market ETF	2,917	$600,318
CPRT	Copart Inc	13,221	$438,937
BMN	BlackRock 2037 Municipal Target Term Trust	15,265	$395,974
KO	Coca Cola Co	4,445	$338,042
FERG	Ferguson Enterprises Inc. /DE/	1,263	$294,607
LUV	Southwest Airlines Co	7,500	$281,775
DHI	Horton D R Inc /De/	1,817	$249,328
VZ	Verizon Communications Inc	4,090	$205,318
NUV	Nuveen Municipal Value Fund Inc	17,987	$161,703
FMY	First Trust Mortgage Income Fund	13,354	$157,176
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

116 tracked positions · $1,098,934,420 total · 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 116 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp PUT CALL + SHARES Technology	Reduced	498,532	-949	$99,751,266	+14.5%	9.08%
AAPL	Apple Inc. Technology	Added	280,237	+685	$81,089,378	+14.3%	7.38%
MSFT	Microsoft Corp Technology	Reduced	162,292	-1,843	$60,538,161	−0.4%	5.51%
AMZN	Amazon Com Inc Consumer Cyclical	Added	227,622	+6,875	$54,251,427	+18.0%	4.94%
IAU	Ishares Gold Trust	Added	672,087	+354	$50,749,289	−14.3%	4.62%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	129,578	-231	$42,414,766	+11.1%	3.86%
VMC	Vulcan Materials CO Basic Materials	Reduced	133,357	-1,222	$39,341,648	+7.4%	3.58%
META	Meta Platforms, Inc. Communication Services	Reduced	47,775	-1,361	$26,911,179	−4.3%	2.45%
ADI	Analog Devices Inc Technology	Added	65,383	+1,823	$25,968,166	+28.4%	2.36%
GS	Goldman Sachs Group Inc Financial Services	Reduced	24,939	-949	$25,222,556	+15.2%	2.30%
LLY	ELI LILLY & Co Healthcare	Reduced	20,444	-1,040	$24,521,148	+24.1%	2.23%
JNJ	Johnson & Johnson Healthcare	Reduced	94,177	-434	$23,918,132	+3.4%	2.18%
CAT	Caterpillar Inc Industrials	Reduced	22,180	-1,006	$23,619,482	+43.8%	2.15%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	65,453	-2,202	$23,083,964	+3.7%	2.10%
CSCO	Cisco Systems, Inc. Technology	Added	192,141	+3,569	$22,568,881	+54.3%	2.05%
AXP	American Express Co Financial Services	Added	56,415	+1,958	$19,082,373	+15.8%	1.74%
BLK	BlackRock, Inc. Financial Services	Reduced	18,788	-1,315	$18,065,789	−6.6%	1.64%
V	Visa Inc. Financial Services	Reduced	46,402	-7,782	$15,920,062	−2.8%	1.45%
AVGO	Broadcom Inc. Technology	Added	41,122	+5,900	$15,533,835	+42.5%	1.41%
XOM	ExxonMobil Holdings Corp Energy	Reduced	112,375	-7,328	$15,363,910	−24.3%	1.40%
RTX	RTX Corp Industrials	Added	80,241	+8,039	$15,224,124	+9.3%	1.39%
GD	General Dynamics Corp Industrials	Added	38,504	+642	$13,639,656	+5.0%	1.24%
NEE	Nextera Energy Inc Utilities	Reduced	155,183	-17,356	$13,620,411	−15.0%	1.24%
LMT	Lockheed Martin Corp Industrials	Reduced	25,135	-6,990	$12,805,277	−34.0%	1.17%
MRK	Merck & Co., Inc. Healthcare	Reduced	99,503	-11,872	$12,786,135	−4.6%	1.16%
MU	Micron Technology Inc Technology	Reduced	10,985	-38	$12,679,875	+240.5%	1.15%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	86,077	-3,380	$12,622,331	−2.3%	1.15%
LHX	L3harris Technologies, Inc. /De/ Industrials	Reduced	40,344	-6,357	$11,723,562	−27.3%	1.07%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Added	126,466	+13,491	$10,958,278	+23.3%	1.00%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	57,529	-6,367	$10,407,571	−1.5%	0.95%
NOW	ServiceNow, Inc. Technology	Added	103,711	+70,980	$10,296,428	+200.9%	0.94%
VLO	Valero Energy Corp/Tx Energy	Reduced	38,358	-704	$9,989,957	+3.5%	0.91%
QQQ	Invesco Qqq Trust, Series 1	Reduced	12,866	-11	$9,474,522	+27.5%	0.86%
CINF	Cincinnati Financial Corp Financial Services	Reduced	49,750	-1,015	$9,210,715	+15.3%	0.84%
QCOM	Qualcomm Inc/De Technology	Added	48,292	+14,094	$8,923,878	+102.6%	0.81%
ENTG	Entegris Inc Technology	Added	48,096	+1,257	$8,650,546	+57.5%	0.79%
NOC	Northrop Grumman Corp /De/ Industrials	Reduced	16,474	-162	$8,390,372	−26.1%	0.76%
NVS	Novartis AG Healthcare	Added	52,702	+34	$8,259,457	+2.7%	0.75%
AVB	Avalonbay Communities Inc Real Estate	Reduced	43,562	-8,432	$8,219,713	−3.2%	0.75%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	61,878	+9,700	$7,617,800	−7.2%	0.69%
BX	Blackstone Inc. Financial Services	Reduced	63,897	-8,636	$7,518,759	−9.9%	0.68%
SUNB	Sunbelt Rentals Holdings, Inc. Industrials	Reduced	93,850	-5,521	$7,020,918	+8.5%	0.64%
GGG	Graco Inc Industrials	Added	90,559	+23,155	$6,847,165	+20.0%	0.62%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	7,079	+339	$6,622,192	−1.4%	0.60%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	63,274	-24,454	$6,465,970	−17.7%	0.59%
ORCL	Oracle Corp Technology	Reduced	43,601	-1,918	$6,389,726	−4.6%	0.58%
SLB	Slb Limited/Nv Energy	Added	131,518	+16,422	$6,114,271	+3.4%	0.56%
PEP	Pepsico Inc Consumer Defensive	Reduced	43,887	-12,204	$5,942,299	−31.8%	0.54%
DIA	Spdr Dow Jones Industrial Average ETF Trust	Held	11,080	0	$5,788,081	+12.8%	0.53%
CVX	Chevron Corp Energy	Reduced	34,537	-1,237	$5,724,853	−22.7%	0.52%

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.