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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 3  ·  46 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 AAPL APPLE INC Technology 279,552.0 $70.9M 5.24% +3K +1.2% $253.79 +17.9%
2 MSFT MICROSOFT CORP Technology 164,135.0 $60.8M 4.48% +3K +1.7% $370.17 +14.9%
3 AMZN AMAZON COM INC Consumer Cyclical 220,747.0 $46.0M 3.39% +4K +1.9% $208.27 +25.2%
4 VMC VULCAN MATLS CO Basic Materials 134,579.0 $36.6M 2.70% +2K +1.3% $272.30 -5.3%
5 META META PLATFORMS INC Communication Services 49,136.0 $28.1M 2.07% +542.0 +1.1% $572.13 +6.4%
6 HD HOME DEPOT INC Consumer Cyclical 67,655.0 $22.3M 1.64% +4K +5.9% $328.89 -10.4%
7 GS GOLDMAN SACHS GROUP INC Financial Services 25,888.0 $21.9M 1.62% +876.0 +3.5% $846.00 +9.6%
8 LLY ELI LILLY & CO Healthcare 21,484.0 $19.8M 1.46% +550.0 +2.6% $919.77 +7.8%
9 CAT CATERPILLAR INC Industrials 23,186.0 $16.4M 1.21% +1K +6.8% $708.46 +20.4%
10 GD GENERAL DYNAMICS CORP Industrials 37,862.0 $13.0M 0.96% +339.0 +0.9% $343.22 -0.6%
11 PG PROCTER & GAMBLE CO Consumer Defensive 89,457.0 $12.9M 0.95% +7K +8.9% $144.44 -1.8%
12 AVB AVALONBAY CMNTYS INC Real Estate 51,994.0 $8.5M 0.63% +270.0 +0.5% $163.35 +12.7%
13 BX BLACKSTONE INC Financial Services 72,533.0 $8.3M 0.61% +779.0 +1.1% $114.99 +1.1%
14 ICE INTERCONTINENTAL EXCHANGE IN Financial Services 52,178.0 $8.2M 0.60% +35K +205.4% $157.28 -0.6%
15 CINF CINCINNATI FINL CORP Financial Services 50,765.0 $8.0M 0.59% +1K +2.5% $157.35 +6.5%
16 BWXT BWX TECHNOLOGIES INC Industrials 38,969.0 $8.0M 0.59% +10K +33.8% $204.49 -2.7%
17 SBUX STARBUCKS CORP Consumer Cyclical 87,728.0 $7.9M 0.58% +6K +6.8% $89.59 +18.4%
18 QQQ INVESCO QQQ TR Financial Services 12,877.0 $7.4M 0.55% +385.0 +3.1% $577.20 +21.6%
19 CVX CHEVRON CORPORATION Energy 35,774.0 $7.4M 0.55% +2K +4.5% $206.90 -6.2%
20 COST COSTCO WHOLESALE CORPORATION Consumer Defensive 6,740.0 $6.7M 0.50% +932.0 +16.1% $996.43 +8.4%
Page 1 of 3  ·  46 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%