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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
+12.43%
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
$1.25B
AUM Growth
+$123M
Cap. Flow
+$11M
Cap. Flow %
0.88%
Top 10 Hldgs %
46.7%
Holding
172
New
11
Increased
47
Reduced
70
Closed
10

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$12.1M
2
RELX icon
RELX
RELX
+$6.61M
3
ADI icon
Analog Devices
ADI
+$4.34M
4
GRMN
Garmin
GRMN
+$4.12M
5
META icon
Meta Platforms (Facebook)
META
+$3.18M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$3.97M
2
JNJ icon
Johnson & Johnson
JNJ
+$3.43M
3
LHX icon
L3Harris
LHX
+$2.85M
4
CSCO icon
Cisco
CSCO
+$2.73M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$2.71M

Sector Composition

Rank Sector Weight
1 Technology 22.98%
2 Financials 11.16%
3 Industrials 8.63%
4 Consumer Discretionary 7.97%
5 Communication Services 7.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FTHY
76
First Trust High Yield Opportunities 2027 Term Fund
FTHY
$498M
$3.11M 0.25%
+209,151
New +$2.97M
SBUX icon
77
Starbucks
SBUX
$120B
$3M 0.24%
32,738
+9,282
+40% +$804K
SDY icon
78
State Street SPDR S&P Dividend ETF
SDY
$23.9B
$2.85M 0.23%
20,989
– –
HCA icon
79
HCA Healthcare
HCA
$89.5B
$2.81M 0.23%
7,335
-3,115
-30% -$1.12M
DVY icon
80
iShares Select Dividend ETF
DVY
$23.6B
$2.78M 0.22%
20,911
-5,035
-19% -$652K
DIS icon
81
Walt Disney
DIS
$181B
$2.63M 0.21%
21,203
-25,495
-55% -$2.65M
TSLA icon
82
Tesla
TSLA
$1.3T
$2.28M 0.18%
7,166
+2,652
+59% +$799K
NTRA icon
83
Natera
NTRA
$46.4B
$2.25M 0.18%
13,325
+3,332
+33% +$519K
IJR icon
84
iShares Core S&P Small-Cap ETF
IJR
$112B
$2.25M 0.18%
20,563
-2,999
-13% -$310K
ADBE icon
85
Adobe
ADBE
$105B
$1.94M 0.16%
5,009
-2,091
-29% -$806K
EXC icon
86
Exelon
EXC
$47B
$1.83M 0.15%
42,180
-5,000
-11% -$223K
DGRW icon
87
WisdomTree Trust WisdomTree US Quality Dividend Growth Fund
DGRW
$17.3B
$1.82M 0.15%
21,779
– –
UL icon
88
Unilever
UL
$136B
$1.6M 0.13%
23,272
– –
T icon
89
AT&T
T
$163B
$1.55M 0.12%
53,595
– –
OKE icon
90
Oneok
OKE
$54.5B
$1.44M 0.12%
17,602
– –
NOW icon
91
ServiceNow
NOW
$129B
$1.43M 0.12%
6,970
-395
-5% -$74.5K
SPY icon
92
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$1.35M 0.11%
2,189
+192
+10% +$110K
ELV icon
93
Elevance Health
ELV
$85.5B
$1.31M 0.11%
3,375
-300
-8% -$121K
NOV icon
94
NOV
NOV
$7B
$1.31M 0.11%
105,388
-77,831
-42% -$980K
MU icon
95
Micron Technology
MU
$991B
$1.3M 0.1%
10,558
+68
+0.6% +$6.35K
MO icon
96
Altria Group
MO
$114B
$1.29M 0.1%
22,045
-4,000
-15% -$235K
NXRT
97
NexPoint Residential Trust
NXRT
$652M
$1.25M 0.1%
37,453
+5,291
+16% +$187K
VAW icon
98
Vanguard Materials ETF
VAW
$3.13B
$1.1M 0.09%
5,633
-7,170
-56% -$1.34M
ETR icon
99
Entergy
ETR
$50B
$1.08M 0.09%
13,000
– –
TSM icon
100
TSMC
TSM
$2.18T
$1.05M 0.08%
4,624
– –
2 3
4
5 6

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SIM
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CHAM
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L7C
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Narwhal Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Narwhal Capital Management held 172 positions worth $1.25B, up 11% from $1.12B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Narwhal Capital Management's Q2 2025 filing shows 11 new, 47 increased, 70 reduced and 10 closed positions. Its largest new stake was RELX: 124,920 shares worth $6.79M. The largest sale was UnitedHealth, an estimated $3.97M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 21% a quarter earlier, followed by Financials and Industrials.

  • Narwhal Capital Management's largest Q2 2025 buy was RELX: 124,920 shares worth $6.79M.
  • Narwhal Capital Management added most to iShares Core S&P 500 ETF in Q2 2025, an estimated $12.1M increase.
  • Narwhal Capital Management's biggest Q2 2025 reduction was UnitedHealth, cutting an estimated $3.97M.
  • Narwhal Capital Management fully exited BHP in Q2 2025, selling an estimated $680K.
  • Narwhal Capital Management's ten largest holdings make up 47% of its $1.25B portfolio in Q2 2025.
  • Narwhal Capital Management opened 11 new positions and closed 10 in Q2 2025.
  • Narwhal Capital Management's portfolio value rose 11% quarter-over-quarter to $1.25B.

Based on Narwhal Capital Management's 13F filing for Q2 2025, filed 23 Jul 2025.