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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
+4.04%
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
$1.38B
AUM Growth
+$26.2M
Cap. Flow
-$12.3M
Cap. Flow %
-0.89%
Top 10 Hldgs %
50.57%
Holding
171
New
7
Increased
49
Reduced
61
Closed
8

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.51M
2
CSCO icon
Cisco
CSCO
+$2.9M
3
HCA icon
HCA Healthcare
HCA
+$2.88M
4
ICE icon
Intercontinental Exchange
ICE
+$2.68M
5
MSFT icon
Microsoft
MSFT
+$2.67M

Top Sells

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$3.32M
2
MUSA icon
Murphy USA
MUSA
+$2.68M
3
QCOM icon
Qualcomm
QCOM
+$2.33M
4
ZTS icon
Zoetis
ZTS
+$2.32M
5
MRK icon
Merck
MRK
+$2.31M

Sector Composition

Rank Sector Weight
1 Technology 23.68%
2 Financials 11.26%
3 Communication Services 9.2%
4 Industrials 8.44%
5 Consumer Discretionary 6.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XLK icon
51
State Street Technology Select Sector SPDR ETF
XLK
$123B
$6.05M 0.44%
42,000
– –
RELX icon
52
RELX
RELX
$62B
$6.02M 0.44%
149,017
-4,502
-3% -$192K
QCOM icon
53
Qualcomm
QCOM
$176B
$5.99M 0.44%
35,025
-13,601
-28% -$2.33M
CEG icon
54
Constellation Energy
CEG
$95.6B
$5.59M 0.41%
15,815
+97
+0.6% +$35.3K
DIA icon
55
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$48.5B
$5.32M 0.39%
11,080
– –
CVX icon
56
Chevron
CVX
$366B
$5.22M 0.38%
34,218
– –
BWXT icon
57
BWX Technologies
BWXT
$15.6B
$5.03M 0.37%
29,116
-3,076
-10% -$577K
COST icon
58
Costco
COST
$420B
$5.01M 0.36%
5,808
+470
+9% +$426K
SGOL icon
59
abrdn Physical Gold Shares ETF
SGOL
$7.41B
$4.77M 0.35%
116,026
+25
+0% +$989
SLB icon
60
SLB Ltd
SLB
$75B
$4.72M 0.34%
123,007
-13,974
-10% -$507K
ADBE icon
61
Adobe
ADBE
$105B
$4.49M 0.33%
12,840
+3,906
+44% +$1.33M
GGG icon
62
Graco
GGG
$13.5B
$4.43M 0.32%
54,088
-5,007
-8% -$412K
KMI icon
63
Kinder Morgan
KMI
$68.7B
$4.24M 0.31%
154,280
+3,143
+2% +$84.9K
GLD icon
64
SPDR Gold Trust
GLD
$142B
$4.07M 0.3%
10,263
-177
-2% -$67.6K
UFPI icon
65
UFP Industries
UFPI
$5.19B
$4.03M 0.29%
44,208
-5,079
-10% -$465K
BRK.A icon
66
Berkshire Hathaway Class A
BRK.A
$1.12T
$3.77M 0.27%
5
– –
ENTG icon
67
Entegris
ENTG
$23.2B
$3.72M 0.27%
44,159
+1,832
+4% +$159K
GRMN
68
Garmin
GRMN
$60B
$3.72M 0.27%
18,325
-607
-3% -$132K
MTBA icon
69
Simplify MBS ETF
MTBA
$1.49B
$3.63M 0.26%
72,068
-9,811
-12% -$495K
MU icon
70
Micron Technology
MU
$991B
$3.19M 0.23%
11,188
+913
+9% +$209K
TSLA icon
71
Tesla
TSLA
$1.3T
$2.96M 0.22%
6,586
-2,930
-31% -$1.3M
DVY icon
72
iShares Select Dividend ETF
DVY
$23.6B
$2.96M 0.22%
20,970
+134
+0.6% +$18.9K
SDY icon
73
State Street SPDR S&P Dividend ETF
SDY
$22.1B
$2.92M 0.21%
20,989
– –
WMT icon
74
Walmart Inc
WMT
$890B
$2.77M 0.2%
24,849
+2,160
+10% +$232K
ICE icon
75
Intercontinental Exchange
ICE
$84.4B
$2.77M 0.2%
+17,086
New +$2.68M
1 2
3
4 5

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CHAM
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HTI
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SWP
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L7C
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WBC
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Narwhal Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Narwhal Capital Management held 171 positions worth $1.38B, up 1.9% from $1.35B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Narwhal Capital Management's Q4 2025 filing shows 7 new, 49 increased, 61 reduced and 8 closed positions. Its largest new stake was Intercontinental Exchange: 17,086 shares worth $2.77M. The largest sale was Broadcom, an estimated $3.32M.

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

  • Narwhal Capital Management's largest Q4 2025 buy was Intercontinental Exchange: 17,086 shares worth $2.77M.
  • Narwhal Capital Management added most to iShares Core S&P 500 ETF in Q4 2025, an estimated $4.51M increase.
  • Narwhal Capital Management's biggest Q4 2025 reduction was Broadcom, cutting an estimated $3.32M.
  • Narwhal Capital Management fully exited Zoetis in Q4 2025, selling an estimated $2.32M.
  • Narwhal Capital Management's ten largest holdings make up 51% of its $1.38B portfolio in Q4 2025.
  • Narwhal Capital Management opened 7 new positions and closed 8 in Q4 2025.
  • Narwhal Capital Management's portfolio value rose 1.9% quarter-over-quarter to $1.38B.

Based on Narwhal Capital Management's 13F filing for Q4 2025, filed 30 Jan 2026.