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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
VO icon
151
Vanguard Morningstar Mid-Cap ETF
VO
$109B
$228K 0.02%
2,826
-10
-0.4% -$775
LRCX icon
152
Lam Research
LRCX
$390B
$217K 0.02%
+500
New +$152K
ELV icon
153
Elevance Health
ELV
$85.5B
$206K 0.01%
532
-946
-64% -$351K
MKL icon
154
Markel Group
MKL
$23.2B
$205K 0.01%
105
– –
FATE icon
155
Fate Therapeutics
FATE
$326M
$34.3K ﹤0.01%
12,700
– –
NVDA icon
156
PUT
NVIDIA
NVDA
$5.42T
$2.65K ﹤0.01%
10
– –
NVDA icon
157
CALL
NVIDIA
NVDA
$5.42T
$4 ﹤0.01%
+2
New +$411
BMN icon
158
BlackRock 2037 Municipal Target Term Trust
BMN
$156M
– –
-15,265
Closed -$396K
BTT icon
159
BlackRock Municipal 2030 Target Term Trust
BTT
$1.44B
– –
-357,067
Closed -$8.11M
CLOI icon
160
VanEck CLO ETF
CLOI
$1.51B
– –
-18,181
Closed -$958K
CPRT icon
161
Copart
CPRT
$27.5B
– –
-13,221
Closed -$439K
DHI icon
162
D.R. Horton
DHI
$42.3B
– –
-1,817
Closed -$249K
FERG icon
163
Ferguson
FERG
$49.8B
– –
-1,263
Closed -$295K
FMY
164
First Trust Mortgage Income Fund
FMY
$48.7M
– –
-13,354
Closed -$157K
FTHY
165
First Trust High Yield Opportunities 2027 Term Fund
FTHY
$498M
– –
-196,865
Closed -$2.66M
KO icon
166
Coca-Cola
KO
$375B
– –
-4,445
Closed -$338K
LMBS icon
167
First Trust Exchange-Traded Fund IV First Trust Low Duration Opportunities ETF
LMBS
$6.38B
– –
-8,753
Closed -$436K
LUV icon
168
Southwest Airlines
LUV
$23B
– –
-7,500
Closed -$282K
MGOV icon
169
First Trust Intermediate Government Opportunities ETF
MGOV
$100M
– –
-58,576
Closed -$1.19M
MMIN icon
170
IQ MacKay Municipal Insured ETF
MMIN
$468M
– –
-19,660
Closed -$466K
MTBA icon
171
Simplify MBS ETF
MTBA
$1.51B
– –
-62,064
Closed -$3.07M
NUV icon
172
Nuveen Municipal Value Fund
NUV
$1.91B
– –
-17,987
Closed -$162K
SGOV icon
173
iShares 0-3 Month Treasury Bond ETF
SGOV
$100B
– –
-3,250
Closed -$327K
SPSB icon
174
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.7B
– –
-7,660
Closed -$230K
SPTS icon
175
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$6.11B
– –
-10,399
Closed -$303K
4 5 6
7
8

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CHAM
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SWP
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L7C
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WBC
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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.