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Portfolio (Quarterly) Guide ↗

Narwhal Capital Management

· CIK 0001461287
13F Portfolio $1.4B AUM 169 positions Filed Apr 24, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 10 New 46 Added 54 Reduced 4 Exited
Page 1 of 9  ·  169 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 IVV ISHARES TR 211,569.0 $138.2M 10.20% $653.21 +13.6%
2 NVDA NVIDIA CORPORATION Technology 499,471.0 $87.1M 6.43% $174.40 +29.2%
3 GOOG ALPHABET INC Communication Services 285,518.0 $81.9M 6.04% $286.86 +37.1%
4 AAPL APPLE INC Technology 279,552.0 $70.9M 5.24% +3K +1.2% $253.79 +17.4%
5 MSFT MICROSOFT CORP Technology 164,135.0 $60.8M 4.48% +3K +1.7% $370.17 +14.0%
6 IAU ISHARES GOLD TR Financial Services 671,733.0 $59.2M 4.37% $88.16 -2.7%
7 AMZN AMAZON COM INC Consumer Cyclical 220,747.0 $46.0M 3.39% +4K +1.9% $208.27 +27.2%
8 JPM JPMORGAN CHASE & CO Financial Services 129,809.0 $38.2M 2.82% $294.16 +1.2%
9 VMC VULCAN MATLS CO Basic Materials 134,579.0 $36.6M 2.70% +2K +1.3% $272.30 -1.6%
10 META META PLATFORMS INC Communication Services 49,136.0 $28.1M 2.07% +542.0 +1.1% $572.13 +7.4%
11 JNJ JOHNSON & JOHNSON Healthcare 94,611.0 $23.1M 1.71% -1K -1.2% $244.44 -7.3%
12 HD HOME DEPOT INC Consumer Cyclical 67,655.0 $22.3M 1.64% +4K +5.9% $328.89 -9.5%
13 GS GOLDMAN SACHS GROUP INC Financial Services 25,888.0 $21.9M 1.62% +876.0 +3.5% $846.00 +12.1%
14 XOM EXXON MOBIL CORP Energy 119,703.0 $20.3M 1.50% -962.0 -0.8% $169.66 -6.9%
15 ADI ANALOG DEVICES INC Technology 63,560.0 $20.2M 1.49% -2K -3.4% $318.14 +31.6%
16 LLY ELI LILLY & CO Healthcare 21,484.0 $19.8M 1.46% +550.0 +2.6% $919.77 +9.5%
17 IVE ISHARES TR 92,784.0 $19.6M 1.45% $211.15 +6.5%
18 LMT LOCKHEED MARTIN CORP Industrials 32,125.0 $19.4M 1.43% -1K -3.4% $604.39 -14.6%
19 BLK BLACKROCK INC Financial Services 20,103.0 $19.3M 1.43% -1K -5.1% $961.69 +12.5%
20 AXP AMERICAN EXPRESS CO Financial Services 54,457.0 $16.5M 1.22% -2K -3.1% $302.48 +3.2%
Page 1 of 9  ·  169 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 26.8%
Financial Services 21.1%
Communication Services 11.1%
Industrials 10.4%
Consumer Cyclical 7.7%
Healthcare 7.3%
Energy 4.7%
Consumer Defensive 4.3%
Basic Materials 3.7%
Utilities 2.0%