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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 5 of 9  ·  163 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 KR KROGER CO Consumer Defensive 30,081.0 $1.9M 0.14% NEW $62.48 +11.2%
82 UNH UNITEDHEALTH GROUP INC Healthcare 5,542.0 $1.8M 0.13% NEW $330.12 +17.9%
83 TMUS T-MOBILE US INC Communication Services 8,766.0 $1.8M 0.13% NEW $203.04 -5.3%
84 SPMO INVESCO EXCH TRADED FD TR II 13,676.0 $1.6M 0.12% NEW $119.32 +18.2%
85 EXC EXELON CORP Utilities 37,130.0 $1.6M 0.12% NEW $43.59 +1.0%
86 TSM TAIWAN SEMICONDUCTOR MFG LTD Technology 4,624.0 $1.4M 0.10% NEW $303.89 +28.7%
87 SPY SPDR S&P 500 ETF TR Financial Services 2,047.0 $1.4M 0.10% NEW $681.92 +7.7%
88 T AT&T INC Communication Services 53,723.0 $1.3M 0.10% NEW $24.84 -0.8%
89 ENTERGY CORP NEW 14,095.0 $1.3M 0.10% NEW $92.43
90 UNILEVER PLC 19,659.0 $1.3M 0.09% NEW $65.40
91 OKE ONEOK INC NEW Energy 17,194.0 $1.3M 0.09% NEW $73.50 +27.7%
92 DAL DELTA AIR LINES INC DEL Industrials 16,850.0 $1.2M 0.09% NEW $69.40 -1.9%
93 NXRT NEXPOINT RESIDENTIAL TR INC Real Estate 37,217.0 $1.1M 0.08% NEW $30.10 -5.3%
94 IWR ISHARES TR 10,231.0 $985K 0.07% NEW $96.27 +6.6%
95 SCHD SCHWAB STRATEGIC TR 35,701.0 $979K 0.07% NEW $27.43 +16.2%
96 XLU SELECT SECTOR SPDR TR 22,310.0 $952K 0.07% NEW $42.69 +2.6%
97 IJJ ISHARES TR 6,923.0 $911K 0.07% NEW $131.59 +4.2%
98 XLV SELECT SECTOR SPDR TR 5,880.0 $910K 0.07% NEW $154.80 -6.2%
99 VUG VANGUARD INDEX FDS 1,800.0 $878K 0.06% NEW $487.86 -82.2%
100 MGOV FIRST TR EXCHANGE-TRADED FD 42,453.0 $869K 0.06% NEW $20.48 -2.2%
Page 5 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%