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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 8 of 9  ·  163 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
141 SGOV ISHARES TR 3,227.0 $324K 0.02% NEW $100.37 +0.2%
142 FDX FEDEX CORP Industrials 1,120.0 $324K 0.02% NEW $288.86 +26.0%
143 LUV SOUTHWEST AIRLS CO Industrials 7,790.0 $322K 0.02% NEW $41.33 -9.4%
144 BERKSHIRE HATHAWAY INC DEL 636.0 $320K 0.02% NEW $502.65
145 FERG FERGUSON ENTERPRISES INC Industrials 1,362.0 $303K 0.02% NEW $222.63 -3.5%
146 XLI SELECT SECTOR SPDR TR 1,925.0 $299K 0.02% NEW $155.12 +8.6%
147 VAW VANGUARD WORLD FD 1,414.0 $293K 0.02% NEW $207.55 +6.7%
148 XLF SELECT SECTOR SPDR TR 5,250.0 $288K 0.02% NEW $54.77 -6.3%
149 SPSB SPDR SERIES TRUST 9,496.0 $287K 0.02% NEW $30.20 -0.9%
150 ADSK AUTODESK INC Technology 941.0 $279K 0.02% NEW $296.01 -16.1%
151 PERIMETER SOLUTIONS INC 10,014.0 $276K 0.02% NEW $27.53
152 AOR ISHARES TR 4,200.0 $273K 0.02% NEW $65.01 +4.3%
153 LNG CHENIERE ENERGY INC Energy 1,387.0 $270K 0.02% NEW $194.38 +26.8%
154 GOOGL ALPHABET INC Communication Services 813.0 $254K 0.02% NEW $312.91 +25.5%
155 UPS UNITED PARCEL SERVICE INC Industrials 2,471.0 $245K 0.02% NEW $99.19 -5.0%
156 IYH ISHARES TR 3,750.0 $244K 0.02% NEW $65.10 -6.2%
157 NUV NUVEEN MUN VALUE FD INC Financial Services 26,050.0 $236K 0.02% NEW $9.06 -0.8%
158 DHI D R HORTON INC Consumer Cyclical 1,600.0 $230K 0.02% NEW $144.03 -6.9%
159 MKL MARKEL GROUP INC Financial Services 105.0 $226K 0.02% NEW $2149.65 -14.1%
160 VO VANGUARD INDEX FDS 709.0 $206K 0.01% NEW $290.22 -73.8%
Page 8 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%