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Portfolio (Quarterly) Guide ↗

Narwhal Capital Management

· CIK 0001461287
13F Portfolio $1.4B AUM Filed Jan 30, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 163 New
Page 2 of 9  ·  163 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 CSCO CISCO SYS INC Technology 204,140.0 $15.7M 1.14% NEW $77.03 +53.5%
22 LHX L3HARRIS TECHNOLOGIES INC Industrials 51,285.0 $15.1M 1.09% NEW $293.57 +3.3%
23 IWF ISHARES TR 31,327.0 $14.8M 1.08% NEW $473.30 -73.8%
24 XOM EXXON MOBIL CORP Energy 120,665.0 $14.5M 1.05% NEW $120.34 +31.2%
25 NEE NEXTERA ENERGY INC Utilities 178,346.0 $14.3M 1.04% NEW $80.28 +16.3%
26 RTX RTX CORPORATION Industrials 72,354.0 $13.3M 0.96% NEW $183.40 -6.7%
27 AVGO BROADCOM INC Technology 36,670.0 $12.7M 0.92% NEW $346.10 +21.6%
28 GD GENERAL DYNAMICS CORP Industrials 37,523.0 $12.6M 0.92% NEW $336.66 -0.6%
29 CAT CATERPILLAR INC Industrials 21,707.0 $12.4M 0.90% NEW $572.87 +50.8%
30 PG PROCTER AND GAMBLE CO Consumer Defensive 82,168.0 $11.8M 0.86% NEW $143.31 -1.2%
31 MRK MERCK & CO INC Healthcare 111,743.0 $11.8M 0.85% NEW $105.26 +5.8%
32 NOC NORTHROP GRUMMAN CORP Industrials 19,708.0 $11.2M 0.82% NEW $570.21 -5.2%
33 BX BLACKSTONE INC Financial Services 71,754.0 $11.1M 0.80% NEW $154.14 -24.1%
34 PM PHILIP MORRIS INTL INC Consumer Defensive 68,209.0 $10.9M 0.80% NEW $160.40 +18.2%
35 ABT ABBOTT LABS Healthcare 76,982.0 $9.6M 0.70% NEW $125.29 -29.8%
36 AVB AVALONBAY CMNTYS INC Real Estate 51,724.0 $9.4M 0.68% NEW $181.31 -0.3%
37 BTT BLACKROCK MUN TARGET TERM TR Financial Services 387,702.0 $8.8M 0.64% NEW $22.82 -1.4%
38 CANADIAN PACIFIC KANSAS CITY 116,283.0 $8.6M 0.62% NEW $73.63
39 PEP PEPSICO INC Consumer Defensive 57,403.0 $8.2M 0.60% NEW $143.52 +3.9%
40 CINF CINCINNATI FINL CORP Financial Services 49,523.0 $8.1M 0.59% NEW $163.32 +2.7%
Page 2 of 9  ·  163 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 28.9%
Financial Services 21.2%
Communication Services 11.7%
Industrials 9.0%
Consumer Cyclical 8.0%
Healthcare 7.3%
Consumer Defensive 3.7%
Basic Materials 3.7%
Energy 3.4%
Utilities 1.9%