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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 9 of 9  ·  169 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
161 GOOGL ALPHABET INC Communication Services 744.0 $214K 0.02% -69.0 -8.5% $287.56 +38.0%
162 IJH ISHARES TR 3,150.0 $213K 0.02% -8K -70.8% $67.53 +6.8%
163 VZ VERIZON COMMUNICATIONS INC Communication Services 4,090.0 $205K 0.01% NEW $50.20 -7.6%
164 VO VANGUARD INDEX FDS 709.0 $204K 0.01% $287.18 -73.3%
165 MKL MARKEL GROUP INC Financial Services 105.0 $201K 0.01% $1914.07 -3.7%
166 NUV NUVEEN MUN VALUE FD INC Financial Services 17,987.0 $162K 0.01% -8K -30.9% $8.99 +1.0%
167 FMY FIRST TR MTG INCOME FD Financial Services 13,354.0 $157K 0.01% NEW $11.77 -1.5%
168 FATE FATE THERAPEUTICS INC Healthcare 12,700.0 $15K 0.00% $1.20 +44.2%
169 NVDA PUT NVIDIA CORPORATION Technology 10.0 $12K 0.00% -990.0 -99.0% $1230.00 -81.7%
Page 9 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%