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NCM

Narwhal Capital Management Portfolio holdings

AUM $1.45B Turnover 15.82%
1-Year Est. Return 28.39%
This Fund
S&P 500
This Quarter Est. Return
+10.73%
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
$1.35B
AUM Growth
+$105M
Cap. Flow
-$15.3M
Cap. Flow %
-1.13%
Top 10 Hldgs %
49.27%
Holding
171
New
9
Increased
42
Reduced
78
Closed
7
Avg Time Held Equity + Options
5.8 years
Top 10 Avg Time Held Equity + Options
7.5 years
Top 20 Avg Time Held Equity + Options
5.2 years
Avg Time Held Equity only
5.8 years
Top 10 Avg Time Held Equity only
7.5 years
Top 20 Avg Time Held Equity only
5.2 years

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.82M
2
ORCL icon
Oracle
ORCL
+$3.98M
3
PEP icon
PepsiCo
PEP
+$3.65M
4
V icon
Visa
V
+$3.34M
5
CPRT icon
Copart
CPRT
+$3.07M

Top Sells

Rank Stock Value
1
MLR icon
Miller Industries
MLR
+$6.82M
2
LULU icon
lululemon athletica
LULU
+$5.45M
3
CSGP icon
CoStar Group
CSGP
+$4.18M
4
AVGO icon
Broadcom
AVGO
+$3.69M
5
GS icon
Goldman Sachs
GS
+$3.24M

Sector Composition

Rank Sector Weight
1 Technology 23.99%
2 Miscellaneous 22.31%
3 Financials 11.07%
4 Industrials 9.1%
5 Communication Services 8.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
IVV icon
1
iShares Core S&P 500 ETF
IVV
$881B
$136M 10.11%
203,919
+7,490
+4% +$4.82M
2013 Q2
49 quarters
NVDA icon
2
NVIDIA
NVDA
$5.2T
$94.8M 7.02%
508,238
+8,421
+2% +$1.47M
2018 Q1
30 quarters
MSFT icon
3
Microsoft
MSFT
$3.9T
$80.8M 5.99%
156,069
-1,179
-0.7% -$601K
2013 Q2
49 quarters
AAPL icon
4
Apple
AAPL
$5.01T
$69.4M 5.14%
272,566
-2,402
-0.9% -$543K
2013 Q2
49 quarters
GOOG icon
5
Alphabet (Google) Class C
GOOG
$4.13T
$69.2M 5.12%
284,087
-7,420
-3% -$1.56M
2014 Q2
45 quarters
IAU icon
6
iShares Gold Trust
IAU
$61.7B
$48.9M 3.62%
672,041
+286
+0% +$18.7K
2019 Q4
23 quarters
AMZN icon
7
Amazon
AMZN
$2.7T
$46.5M 3.44%
211,752
-1,479
-0.7% -$335K
2013 Q2
49 quarters
VMC icon
8
Vulcan Materials
VMC
$33.2B
$41M 3.04%
133,394
+10,559
+9% +$3M
2013 Q2
49 quarters
JPM icon
9
JPMorgan Chase
JPM
$899B
$40.4M 2.99%
128,184
+1,690
+1% +$503K
2013 Q2
49 quarters
META icon
10
Meta Platforms (Facebook)
META
$1.81T
$37.6M 2.78%
51,141
+1,152
+2% +$857K
2015 Q2
41 quarters
HD icon
11
Home Depot
HD
$310B
$24.7M 1.83%
60,886
-6,081
-9% -$2.39M
2013 Q2
49 quarters
BLK icon
12
Blackrock
BLK
$175B
$24.3M 1.8%
20,825
-2,376
-10% -$2.66M
2024 Q4
3 quarters
GS icon
13
Goldman Sachs
GS
$257B
$21.2M 1.57%
26,599
-4,372
-14% -$3.24M
2013 Q2
49 quarters
V icon
14
Visa
V
$753B
$20.4M 1.51%
59,895
+9,649
+19% +$3.34M
2020 Q1
22 quarters
AXP icon
15
American Express
AXP
$212B
$19.7M 1.46%
59,257
-77
-0.1% -$24.5K
2014 Q4
43 quarters
IVE icon
16
iShares S&P 500 Value ETF
IVE
$49.8B
$19.2M 1.42%
92,784
-500
-0.5% -$100K
2016 Q1
38 quarters
LMT icon
17
Lockheed Martin
LMT
$126B
$18.2M 1.35%
36,465
+4,564
+14% +$2.07M
2013 Q2
49 quarters
JNJ icon
18
Johnson & Johnson
JNJ
$615B
$17.9M 1.32%
96,371
+15,755
+20% +$2.7M
2013 Q2
49 quarters
LLY icon
19
Eli Lilly
LLY
$1.12T
$17.7M 1.31%
23,222
-2,154
-8% -$1.6M
2021 Q2
17 quarters
LHX icon
20
L3Harris
LHX
$45.4B
$15.3M 1.13%
50,128
+6,759
+16% +$1.85M
2019 Q3
24 quarters
AVGO icon
21
Broadcom
AVGO
$1.59T
$15.2M 1.12%
45,963
-12,035
-21% -$3.69M
2024 Q4
3 quarters
ADI icon
22
Analog Devices
ADI
$196B
$14.8M 1.1%
60,255
-3,815
-6% -$917K
2021 Q3
16 quarters
IWF icon
23
iShares Russell 1000 Growth ETF
IWF
$124B
$14.7M 1.09%
125,308
-92
-0.1% -$10.2K
2013 Q2
49 quarters
RTX icon
24
RTX Corp
RTX
$260B
$13.5M 1%
80,685
+19,110
+31% +$2.97M
2013 Q2
49 quarters
NEE icon
25
NextEra Energy
NEE
$166B
$13.3M 0.98%
176,113
-3,780
-2% -$276K
2013 Q2
49 quarters
1
2 3 4 5

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Narwhal Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Narwhal Capital Management held 171 positions worth $1.35B, up 8.4% from $1.25B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Narwhal Capital Management's Q3 2025 filing shows 9 new, 42 increased, 78 reduced and 7 closed positions. Its largest new stake was Copart: 65,100 shares worth $2.93M. The largest sale was Miller Industries, an estimated $6.82M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Miscellaneous and Financials.

  • Narwhal Capital Management's largest Q3 2025 buy was Copart: 65,100 shares worth $2.93M.
  • Narwhal Capital Management added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $4.82M increase.
  • Narwhal Capital Management's biggest Q3 2025 reduction was CoStar Group, cutting an estimated $4.18M.
  • Narwhal Capital Management fully exited Miller Industries in Q3 2025, selling an estimated $6.82M.
  • Narwhal Capital Management's ten largest holdings make up 49% of its $1.35B portfolio in Q3 2025.
  • Narwhal Capital Management opened 9 new positions and closed 7 in Q3 2025.
  • Narwhal Capital Management's portfolio value rose 8.4% quarter-over-quarter to $1.35B.

Based on Narwhal Capital Management's 13F filing for Q3 2025, filed 24 Oct 2025.