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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$876B
$122M 9.79%
196,429
+21,048
+12% +$12.1M
NVDA icon
2
NVIDIA
NVDA
$5.01T
$79M 6.34%
499,817
-11,522
-2% -$1.45M
MSFT icon
3
Microsoft
MSFT
$2.84T
$78.2M 6.28%
157,248
-3,457
-2% -$1.5M
AAPL icon
4
Apple
AAPL
$4.89T
$56.4M 4.53%
274,968
-2,365
-0.9% -$478K
GOOG icon
5
Alphabet (Google) Class C
GOOG
$3.9T
$51.7M 4.15%
291,507
-16,404
-5% -$2.71M
AMZN icon
6
Amazon
AMZN
$2.5T
$46.8M 3.76%
213,231
+2,458
+1% +$486K
IAU icon
7
iShares Gold Trust
IAU
$63B
$41.9M 3.36%
671,755
-6,568
-1% -$407K
META icon
8
Meta Platforms (Facebook)
META
$1.51T
$36.9M 2.96%
49,989
+5,144
+11% +$3.18M
JPM icon
9
JPMorgan Chase
JPM
$939B
$36.7M 2.95%
126,494
-4,091
-3% -$1.04M
VMC icon
10
Vulcan Materials
VMC
$36.3B
$32M 2.57%
122,835
-615
-0.5% -$158K
HD icon
11
Home Depot
HD
$332B
$24.6M 1.97%
66,967
+7,603
+13% +$2.75M
BLK icon
12
Blackrock
BLK
$164B
$24.3M 1.96%
23,201
+1,032
+5% +$976K
GS icon
13
Goldman Sachs
GS
$313B
$21.9M 1.76%
30,971
-2,593
-8% -$1.5M
LLY icon
14
Eli Lilly
LLY
$1.07T
$19.8M 1.59%
25,376
+3,845
+18% +$2.99M
AXP icon
15
American Express
AXP
$223B
$18.9M 1.52%
59,334
+8,876
+18% +$2.5M
IVE icon
16
iShares S&P 500 Value ETF
IVE
$48.9B
$18.2M 1.46%
93,284
– –
V icon
17
Visa
V
$677B
$17.8M 1.43%
50,246
-2,363
-4% -$824K
AVGO icon
18
Broadcom
AVGO
$1.82T
$16M 1.28%
57,998
-3,335
-5% -$724K
PG icon
19
Procter & Gamble
PG
$343B
$15.9M 1.28%
99,985
-2,014
-2% -$329K
ADI icon
20
Analog Devices
ADI
$181B
$15.2M 1.22%
64,070
+20,862
+48% +$4.34M
LMT icon
21
Lockheed Martin
LMT
$134B
$14.8M 1.19%
31,901
+373
+1% +$175K
PM icon
22
Philip Morris
PM
$301B
$14M 1.12%
76,782
-8,827
-10% -$1.52M
IWF icon
23
iShares Russell 1000 Growth ETF
IWF
$122B
$13.3M 1.07%
125,400
+1,184
+1% +$113K
NEE icon
24
NextEra Energy
NEE
$187B
$12.5M 1%
179,893
+28,057
+18% +$1.95M
JNJ icon
25
Johnson & Johnson
JNJ
$635B
$12.3M 0.99%
80,616
-22,308
-22% -$3.43M
1
2 3 4 5

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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.