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NCM

Narwhal Capital Management Portfolio holdings

AUM $1.45B
1-Year Est. Return 28.39%
This Fund
S&P 500
This Quarter Est. Return
+12.91%
1 Year Est. Return
+28.39%
3 Year Est. Return
+93.85%
5 Year Est. Return
+119.75%
10 Year Est. Return
+391.36%
AUM
$1.45B
AUM Growth
+$92.7M
Cap. Flow
-$29.6M
Cap. Flow %
-2.05%
Top 10 Hldgs %
49.19%
Holding
177
New
8
Increased
42
Reduced
66
Closed
20

Top Buys

Rank Stock Value
1
NOW icon
ServiceNow
NOW
+$7.03M
2
AMRZ
Amrize Ltd
AMRZ
+$3.55M
3
QCOM icon
Qualcomm
QCOM
+$2.64M
4
DGX icon
Quest Diagnostics
DGX
+$2.62M
5
AVGO icon
Broadcom
AVGO
+$2.37M

Top Sells

Rank Stock Value
1
BTT icon
BlackRock Municipal 2030 Target Term Trust
BTT
+$8.11M
2
ABT icon
Abbott
ABT
+$4.04M
3
DPZ icon
Domino's
DPZ
+$3.83M
4
LMT icon
Lockheed Martin
LMT
+$3.78M
5
MTBA icon
Simplify MBS ETF
MTBA
+$3.07M

Sector Composition

Rank Sector Weight
1 Technology 25.26%
2 Financials 10.37%
3 Communication Services 9.25%
4 Industrials 9.22%
5 Consumer Discretionary 6.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
1
iShares Core S&P 500 ETF
IVV
$876B
$159M 10.97%
212,038
+469
+0.2% +$342K
NVDA icon
2
NVIDIA
NVDA
$5.01T
$99.7M 6.89%
498,520
-951
-0.2% -$196K
GOOG icon
3
Alphabet (Google) Class C
GOOG
$3.9T
$98.5M 6.81%
278,904
-6,614
-2% -$2.36M
AAPL icon
4
Apple
AAPL
$4.89T
$81.1M 5.6%
280,237
+685
+0.2% +$196K
MSFT icon
5
Microsoft
MSFT
$2.84T
$60.5M 4.18%
162,292
-1,843
-1% -$746K
AMZN icon
6
Amazon
AMZN
$2.5T
$54.3M 3.75%
227,622
+6,875
+3% +$1.73M
IAU icon
7
iShares Gold Trust
IAU
$63B
$50.7M 3.5%
672,087
+354
+0.1% +$30.1K
JPM icon
8
JPMorgan Chase
JPM
$939B
$42.4M 2.93%
129,578
-231
-0.2% -$71.7K
VMC icon
9
Vulcan Materials
VMC
$36.3B
$39.3M 2.72%
133,357
-1,222
-0.9% -$350K
META icon
10
Meta Platforms (Facebook)
META
$1.51T
$26.9M 1.86%
47,775
-1,361
-3% -$832K
ADI icon
11
Analog Devices
ADI
$181B
$26M 1.79%
65,383
+1,823
+3% +$722K
GS icon
12
Goldman Sachs
GS
$313B
$25.2M 1.74%
24,939
-949
-4% -$925K
LLY icon
13
Eli Lilly
LLY
$1.07T
$24.5M 1.69%
20,444
-1,040
-5% -$1.06M
JNJ icon
14
Johnson & Johnson
JNJ
$634B
$23.9M 1.65%
94,177
-434
-0.5% -$101K
CAT icon
15
Caterpillar
CAT
$409B
$23.6M 1.63%
22,180
-1,006
-4% -$884K
HD icon
16
Home Depot
HD
$332B
$23.1M 1.59%
65,453
-2,202
-3% -$716K
CSCO icon
17
Cisco
CSCO
$450B
$22.6M 1.56%
192,141
+3,569
+2% +$373K
IVE icon
18
iShares S&P 500 Value ETF
IVE
$48.9B
$21.1M 1.45%
92,784
– –
AXP icon
19
American Express
AXP
$223B
$19.1M 1.32%
56,415
+1,958
+4% +$627K
BLK icon
20
Blackrock
BLK
$164B
$18.1M 1.25%
18,788
-1,315
-7% -$1.36M
V icon
21
Visa
V
$677B
$15.9M 1.1%
46,402
-7,782
-14% -$2.5M
IWF icon
22
iShares Russell 1000 Growth ETF
IWF
$122B
$15.5M 1.07%
125,220
– –
AVGO icon
23
Broadcom
AVGO
$1.82T
$15.5M 1.07%
41,122
+5,900
+17% +$2.37M
XOM icon
24
ExxonMobil
XOM
$651B
$15.4M 1.06%
112,375
-7,328
-6% -$1.1M
RTX icon
25
RTX Corp
RTX
$287B
$15.2M 1.05%
80,241
+8,039
+11% +$1.47M
1
2 3 4 5

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Narwhal Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Narwhal Capital Management held 177 positions worth $1.45B, up 6.8% from $1.36B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Narwhal Capital Management's Q2 2026 filing shows 8 new, 42 increased, 66 reduced and 20 closed positions. Its largest new stake was Amrize Ltd: 65,645 shares worth $3.5M. The largest sale was BlackRock Municipal 2030 Target Term Trust, an estimated $8.11M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 22% a quarter earlier, followed by Financials and Communication Services.

  • Narwhal Capital Management's largest Q2 2026 buy was Amrize Ltd: 65,645 shares worth $3.5M.
  • Narwhal Capital Management added most to ServiceNow in Q2 2026, an estimated $7.03M increase.
  • Narwhal Capital Management's biggest Q2 2026 reduction was Abbott, cutting an estimated $4.04M.
  • Narwhal Capital Management fully exited BlackRock Municipal 2030 Target Term Trust in Q2 2026, selling an estimated $8.11M.
  • Narwhal Capital Management's ten largest holdings make up 49% of its $1.45B portfolio in Q2 2026.
  • Narwhal Capital Management opened 8 new positions and closed 20 in Q2 2026.
  • Narwhal Capital Management's portfolio value rose 6.8% quarter-over-quarter to $1.45B.

Based on Narwhal Capital Management's 13F filing for Q2 2026, filed 24 Jul 2026.