Narwhal Capital Management — 13F Holdings & Portfolio
CIK 1461287 · latest 13F-HR filed 2026-04-24
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$1.36B
Long-equity book
Holdings
169
Distinct positions
Period
2026-03-31
Filed 2026-04-24
Q/Q Activity
+10 / −4 / ↑63 / ↓57
vs 2025-12-31
Firm Profile & Key People
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- EXXON MOBIL CORP$5.8M +39.9%
- INTERCONTINENTAL EXCHANGE IN$5.4M +196.6%
- ISHARES GOLD TR$4.6M +8.5%
- CATERPILLAR INC$4.0M +32.1%
- NETFLIX INC.$3.8M +451.3%
Top Trims
- MICROSOFT CORP-$17.3M -22.2%
- ALPHABET INC-$7.4M -8.3%
- NVIDIA CORPORATION-$5.8M -6.2%
- VISA INC-$4.6M -21.8%
- AMERICAN EXPRESS CO-$4.3M -20.8%
New Positions
- SUNBELT RENTALS HOLDINGS INC$6.5M
- VANGUARD SCOTTSDALE FDS$455.8K
- REGIONS FINANCIAL CORP NEW$370.1K
- COCA COLA CO$338.0K
- ANHEUSER BUSCH INBEV SA NV$305.6K
Exited Positions
- COSTAR GROUP INC$765.4K
- AUTODESK INC$278.5K
- PERIMETER SOLUTIONS INC$275.7K
- NOV INC$159.7K
All Holdings
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR | IVV | 464287200 | $138.2M | 10.20% | 211,569 | SH |
| 2 | NVIDIA CORPORATION | NVDA | 67066G104 | $87.1M | 6.43% | 499,471 | SH |
| 3 | ALPHABET INC | GOOG | 02079K107 | $81.9M | 6.04% | 285,518 | SH |
| 4 | APPLE INC | AAPL | 037833100 | $70.9M | 5.23% | 279,552 | SH |
| 5 | MICROSOFT CORP | MSFT | 594918104 | $60.8M | 4.48% | 164,135 | SH |
| 6 | ISHARES GOLD TR | IAU | 464285204 | $59.2M | 4.37% | 671,733 | SH |
| 7 | AMAZON COM INC | AMZN | 023135106 | $46.0M | 3.39% | 220,747 | SH |
| 8 | JPMORGAN CHASE & CO | JPM | 46625H100 | $38.2M | 2.82% | 129,809 | SH |
| 9 | VULCAN MATLS CO | VMC | 929160109 | $36.6M | 2.70% | 134,579 | SH |
| 10 | META PLATFORMS INC | META | 30303M102 | $28.1M | 2.07% | 49,136 | SH |
| 11 | JOHNSON & JOHNSON | JNJ | 478160104 | $23.1M | 1.71% | 94,611 | SH |
| 12 | HOME DEPOT INC | HD | 437076102 | $22.3M | 1.64% | 67,655 | SH |
| 13 | GOLDMAN SACHS GROUP INC | GS | 38141G104 | $21.9M | 1.62% | 25,888 | SH |
| 14 | EXXON MOBIL CORP | XOM | 30231G102 | $20.3M | 1.50% | 119,703 | SH |
| 15 | ANALOG DEVICES INC | ADI | 032654105 | $20.2M | 1.49% | 63,560 | SH |
| 16 | ELI LILLY & CO | LLY | 532457108 | $19.8M | 1.46% | 21,484 | SH |
| 17 | ISHARES TR | IVE | 464287408 | $19.6M | 1.45% | 92,784 | SH |
| 18 | LOCKHEED MARTIN CORP | LMT | 539830109 | $19.4M | 1.43% | 32,125 | SH |
| 19 | BLACKROCK INC | BLK | 09290D101 | $19.3M | 1.43% | 20,103 | SH |
| 20 | AMERICAN EXPRESS CO | AXP | 025816109 | $16.5M | 1.22% | 54,457 | SH |
| 21 | CATERPILLAR INC | CAT | 149123101 | $16.4M | 1.21% | 23,186 | SH |
| 22 | VISA INC | V | 92826C839 | $16.4M | 1.21% | 54,184 | SH |
| 23 | L3HARRIS TECHNOLOGIES INC | LHX | 502431109 | $16.1M | 1.19% | 46,701 | SH |
| 24 | NEXTERA ENERGY INC | NEE | 65339F101 | $16.0M | 1.18% | 172,539 | SH |
| 25 | CISCO SYS INC | CSCO | 17275R102 | $14.6M | 1.08% | 188,572 | SH |
| 26 | RTX CORPORATION | RTX | 75513E101 | $13.9M | 1.03% | 72,202 | SH |
| 27 | MERCK & CO INC | MRK | 58933Y105 | $13.4M | 0.99% | 111,375 | SH |
| 28 | ISHARES TR | IWF | 464287614 | $13.3M | 0.98% | 31,305 | SH |
| 29 | GENERAL DYNAMICS CORP | GD | 369550108 | $13.0M | 0.96% | 37,862 | SH |
| 30 | PROCTER & GAMBLE CO | PG | 742718109 | $12.9M | 0.95% | 89,457 | SH |
| 31 | NORTHROP GRUMMAN CORP | NOC | 666807102 | $11.3M | 0.84% | 16,636 | SH |
| 32 | BROADCOM INC | AVGO | 11135F101 | $10.9M | 0.80% | 35,222 | SH |
| 33 | PHILIP MORRIS INTL INC | PM | 718172109 | $10.6M | 0.78% | 63,896 | SH |
| 34 | VALERO ENERGY CORP | VLO | 91913Y100 | $9.7M | 0.71% | 39,062 | SH |
| 35 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $8.9M | 0.66% | 112,975 | SH |
| 36 | PEPSICO INC | PEP | 713448108 | $8.7M | 0.64% | 56,091 | SH |
| 37 | AVALONBAY CMNTYS INC | AVB | 053484101 | $8.5M | 0.63% | 51,994 | SH |
| 38 | BLACKSTONE INC | BX | 09260D107 | $8.3M | 0.62% | 72,533 | SH |
| 39 | INTERCONTINENTAL EXCHANGE IN | ICE | 45866F104 | $8.2M | 0.61% | 52,178 | SH |
| 40 | BLACKROCK MUN TARGET TERM TR | BTT | 09257P105 | $8.1M | 0.60% | 357,067 | SH |
| 41 | NOVARTIS AG | NVS | 66987V109 | $8.0M | 0.59% | 52,668 | SH |
| 42 | CINCINNATI FINL CORP | CINF | 172062101 | $8.0M | 0.59% | 50,765 | SH |
| 43 | BWX TECHNOLOGIES INC | BWXT | 05605H100 | $8.0M | 0.59% | 38,969 | SH |
| 44 | STARBUCKS CORP | SBUX | 855244109 | $7.9M | 0.58% | 87,728 | SH |
| 45 | INVESCO QQQ TR | QQQ | 46090E103 | $7.4M | 0.55% | 12,877 | SH |
| 46 | CHEVRON CORPORATION | CVX | 166764100 | $7.4M | 0.55% | 35,774 | SH |
| 47 | ABBOTT LABORATORIES | ABT | 002824100 | $7.4M | 0.54% | 71,812 | SH |
| 48 | COSTCO WHOLESALE CORPORATION | COST | 22160K105 | $6.7M | 0.50% | 6,740 | SH |
| 49 | ORACLE CORP | ORCL | 68389X105 | $6.7M | 0.49% | 45,519 | SH |
| 50 | MUELLER INDS INC | MLI | 624756102 | $6.5M | 0.48% | 58,806 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-04-24 | $1.36B | 169 | 0001461287-26-000002 |
| 2025-12-31 | 2026-01-30 | $1.38B | 163 | 0001461287-26-000001 |