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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
+10.73%
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
$1.35B
AUM Growth
+$105M
Cap. Flow
-$15.1M
Cap. Flow %
-1.12%
Top 10 Hldgs %
49.27%
Holding
171
New
9
Increased
42
Reduced
78
Closed
7

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.82M
2
ORCL icon
Oracle
ORCL
+$3.98M
3
PEP icon
PepsiCo
PEP
+$3.65M
4
V icon
Visa
V
+$3.34M
5
CPRT icon
Copart
CPRT
+$3.07M

Top Sells

Rank Stock Value
1
MLR icon
Miller Industries
MLR
+$6.82M
2
LULU icon
lululemon athletica
LULU
+$5.45M
3
CSGP icon
CoStar Group
CSGP
+$4.18M
4
AVGO icon
Broadcom
AVGO
+$3.69M
5
GS icon
Goldman Sachs
GS
+$3.24M

Sector Composition

Rank Sector Weight
1 Technology 23.99%
2 Financials 11.07%
3 Industrials 9.1%
4 Communication Services 8.24%
5 Consumer Discretionary 6.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GD icon
26
General Dynamics
GD
$106B
$12.7M 0.94%
37,260
-4,132
-10% -$1.3M
PG icon
27
Procter & Gamble
PG
$339B
$12.7M 0.94%
82,610
-17,375
-17% -$2.71M
PM icon
28
Philip Morris
PM
$295B
$12.4M 0.92%
76,498
-284
-0.4% -$47.8K
ORCL icon
29
Oracle
ORCL
$423B
$12M 0.89%
42,544
+15,615
+58% +$3.98M
AVB icon
30
AvalonBay Communities
AVB
$26.8B
$11.8M 0.87%
60,833
+6,921
+13% +$1.35M
BX icon
31
Blackstone
BX
$110B
$11.7M 0.87%
68,450
-1,533
-2% -$263K
XOM icon
32
ExxonMobil
XOM
$634B
$11.7M 0.87%
103,643
+11,884
+13% +$1.32M
MRK icon
33
Merck
MRK
$318B
$11.4M 0.85%
136,305
-9,906
-7% -$816K
CSCO icon
34
Cisco
CSCO
$479B
$11.3M 0.84%
165,020
+27,101
+20% +$1.85M
CAT icon
35
Caterpillar
CAT
$387B
$10.9M 0.81%
22,862
-3,340
-13% -$1.43M
NOC icon
36
Northrop Grumman
NOC
$81.2B
$10M 0.74%
16,428
-119
-0.7% -$67.5K
ABT icon
37
Abbott
ABT
$187B
$9.59M 0.71%
71,596
+6,027
+9% +$791K
PEP icon
38
PepsiCo
PEP
$190B
$9.51M 0.7%
67,710
+25,549
+61% +$3.65M
CP icon
39
Canadian Pacific Kansas City
CP
$80.5B
$9.2M 0.68%
123,462
-25,756
-17% -$1.97M
BTT icon
40
BlackRock Municipal 2030 Target Term Trust
BTT
$1.44B
$8.75M 0.65%
389,368
-33,995
-8% -$756K
VLO icon
41
Valero Energy
VLO
$85.9B
$8.67M 0.64%
50,897
-10,833
-18% -$1.62M
QCOM icon
42
Qualcomm
QCOM
$176B
$8.09M 0.6%
48,626
-4,809
-9% -$763K
QQQ icon
43
Invesco QQQ Trust
QQQ
$484B
$7.46M 0.55%
12,433
-13
-0.1% -$7.44K
RELX icon
44
RELX
RELX
$62B
$7.33M 0.54%
153,519
+28,599
+23% +$1.41M
CINF icon
45
Cincinnati Financial
CINF
$27.1B
$7.11M 0.53%
44,966
+17,276
+62% +$2.62M
MLI icon
46
Mueller Industries
MLI
$15.2B
$7.08M 0.52%
140,138
-45,586
-25% -$2.09M
IVW icon
47
iShares S&P 500 Growth ETF
IVW
$77.6B
$6.76M 0.5%
56,000
– –
NVS icon
48
Novartis
NVS
$297B
$6.66M 0.49%
51,925
+1,165
+2% +$142K
CRH icon
49
CRH
CRH
$66.8B
$6.11M 0.45%
50,976
-1,969
-4% -$208K
BWXT icon
50
BWX Technologies
BWXT
$15.6B
$5.94M 0.44%
32,192
-10,744
-25% -$1.73M
1
2
3 4 5

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Narwhal Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Narwhal Capital Management held 171 positions worth $1.35B, up 8.4% from $1.25B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Narwhal Capital Management's Q3 2025 filing shows 9 new, 42 increased, 78 reduced and 7 closed positions. Its largest new stake was Copart: 65,100 shares worth $2.93M. The largest sale was Miller Industries, an estimated $6.82M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Financials and Industrials.

  • Narwhal Capital Management's largest Q3 2025 buy was Copart: 65,100 shares worth $2.93M.
  • Narwhal Capital Management added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $4.82M increase.
  • Narwhal Capital Management's biggest Q3 2025 reduction was CoStar Group, cutting an estimated $4.18M.
  • Narwhal Capital Management fully exited Miller Industries in Q3 2025, selling an estimated $6.82M.
  • Narwhal Capital Management's ten largest holdings make up 49% of its $1.35B portfolio in Q3 2025.
  • Narwhal Capital Management opened 9 new positions and closed 7 in Q3 2025.
  • Narwhal Capital Management's portfolio value rose 8.4% quarter-over-quarter to $1.35B.

Based on Narwhal Capital Management's 13F filing for Q3 2025, filed 24 Oct 2025.