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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 5 of 9  ·  169 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 TSLA TESLA INC Consumer Cyclical 6,519.0 $2.4M 0.18% -67.0 -1.0% $371.75 +10.3%
82 NXRT NEXPOINT RESIDENTIAL TR INC Real Estate 76,610.0 $1.9M 0.14% +39K +105.8% $25.00 +15.2%
83 DGRW WISDOMTREE TR 21,779.0 $1.9M 0.14% $87.84 +8.5%
84 NTRA NATERA INC Healthcare 9,103.0 $1.8M 0.13% -642.0 -6.6% $199.99 -3.7%
85 EXC EXELON CORP Utilities 36,855.0 $1.8M 0.13% -275.0 -0.7% $49.02 -10.3%
86 ENTERGY CORP NEW 14,941.0 $1.7M 0.12% +846.0 +6.0% $112.36
87 TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 4,634.0 $1.6M 0.12% $337.95 +17.2%
88 T AT&T INC Communication Services 53,728.0 $1.6M 0.12% $28.99 -15.7%
89 OKE ONEOK INC NEW Energy 17,194.0 $1.6M 0.12% $90.39 +3.7%
90 SPMO INVESCO EXCH TRADED FD TR II 12,836.0 $1.4M 0.11% -840.0 -6.1% $112.11 +25.4%
91 UNH UNITEDHEALTH GROUP INC Healthcare 4,554.0 $1.2M 0.09% -988.0 -17.8% $270.59 +44.5%
92 MGOV FIRST TR EXCHANGE-TRADED FD 58,576.0 $1.2M 0.09% +16K +38.0% $20.28 -1.7%
93 SPY STATE STR SPDR S&P 500 ETF T Financial Services 1,762.0 $1.1M 0.09% -285.0 -13.9% $650.34 +12.8%
94 DAL DELTA AIR LINES INC Industrials 16,850.0 $1.1M 0.08% $66.48 +5.7%
95 UNILEVER PLC 19,650.0 $1.1M 0.08% $56.97
96 SCHD SCHWAB STRATEGIC TR 35,676.0 $1.1M 0.08% $30.68 +4.6%
97 XLU SELECT SECTOR SPDR TR 22,360.0 $1.0M 0.08% $45.89 -3.4%
98 IWR ISHARES TR 10,231.0 $995K 0.07% $97.23 +6.0%
99 CLOI VANECK ETF TRUST 18,181.0 $958K 0.07% +3K +17.2% $52.70 +0.3%
100 IJJ ISHARES TR 6,923.0 $917K 0.07% $132.50 +3.7%
Page 5 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%