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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
VGLT icon
151
Vanguard Long-Term Treasury ETF
VGLT
$10.1B
$256K 0.02%
4,560
-203
-4% -$11.3K
FDX icon
152
FedEx
FDX
$75.4B
$255K 0.02%
1,120
– –
DEO icon
153
Diageo
DEO
$53.6B
$250K 0.02%
2,477
-5,715
-70% -$620K
NUV icon
154
Nuveen Municipal Value Fund
NUV
$1.91B
$227K 0.02%
26,100
+13,375
+105% +$115K
IYH icon
155
iShares US Healthcare ETF
IYH
$3.54B
$212K 0.02%
3,750
– –
MKL icon
156
Markel Group
MKL
$23.2B
$210K 0.02%
+105
New +$197K
GOOGL icon
157
Alphabet (Google) Class A
GOOGL
$4.33T
$206K 0.02%
+1,169
New +$191K
CMCSA icon
158
Comcast
CMCSA
$90B
$204K 0.02%
5,702
– –
FMY
159
First Trust Mortgage Income Fund
FMY
$48.7M
$173K 0.01%
14,203
-6,431
-31% -$77.3K
CX icon
160
Cemex
CX
$16.3B
$161K 0.01%
+23,275
New +$148K
FATE icon
161
Fate Therapeutics
FATE
$326M
$14.2K ﹤0.01%
+12,700
New +$14.8K
BPT
162
DELISTED
BP Prudhoe Bay Royalty Trust
BPT
$11.8K ﹤0.01%
23,587
– –
BHP icon
163
BHP
BHP
$230B
– –
-14,000
Closed -$680K
CALF icon
164
Pacer US Small Cap Cash Cows 100 ETF
CALF
$3.82B
– –
-10,000
Closed -$375K
GM icon
165
General Motors
GM
$76.8B
– –
-8,209
Closed -$386K
HON icon
166
Honeywell
HON
$78B
– –
-2,623
Closed -$523K
NOBL icon
167
ProShares S&P 500 Dividend Aristocrats ETF
NOBL
$12B
– –
-7,000
Closed -$358K
RIG icon
168
Transocean
RIG
$5.82B
– –
-160,000
Closed -$507K
SONY icon
169
Sony
SONY
$138B
– –
-15,000
Closed -$381K
TDV icon
170
ProShares S&P Technology Dividend Aristocrats ETF
TDV
$282M
– –
-6,390
Closed -$466K
VCLT icon
171
Vanguard Long-Term Corporate Bond ETF
VCLT
$8.85B
– –
-2,742
Closed -$208K
VWO icon
172
Vanguard FTSE Emerging Markets ETF
VWO
$124B
– –
-7,190
Closed -$325K
3 4 5 6
7

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VIP
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SIM
SSI Investment Management Los Angeles, California $1.45B AUM 5.8% 1-Year Est. Return
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 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.