Narwhal Capital Management
13F Reported Value
ⓘ$1.4B
incl. option notional
Equity Holdings
ⓘ$1.4B
Option Notional
ⓘ$12,300
$12,300 puts / $0 calls
Holdings
169
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Narwhal Capital Management disclosed 169 positions worth $1.4B in its Form 13F-HR for Q1 2026 — $1.4B in common stock plus $12,300 of put/call option positions (reported at underlying notional value, not premium at risk), followed by $NVDA and $GOOGL. During the quarter the fund opened 8 new positions and exited 4 — including a new stake in $SUNB and a full exit from $CSGP. The portfolio is most concentrated in Technology (31.9% of disclosed assets). All figures are sourced directly from Narwhal Capital Management’s Form 13F-HR filing with the SEC under CIK 1461287.
AI Fund Analysis
Diversifying
$NVDA
$GOOG
$AAPL
$MSFT
$SBUX
$CINF
$ADBE
$NOWSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
ISHARES TR
—Quality
$138.2M211,569 sh- 90.2#1
Quality
$87.1M499,471 sh - 80.2#45
Quality
$81.9M285,518 sh - 76.1
Quality
$70.9M279,552 sh - 83.7
Quality
$60.8M164,135 sh - —
Quality
$59.2M671,733 sh - 74.6
Quality
$46.0M220,747 sh - 35.6
Quality
$38.2M129,809 sh - 66.6
Quality
$36.6M134,579 sh - 80.9
Quality
$28.1M49,136 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES TR | — | $138.2M | 211,569 |
| NVIDIA CORP$NVDA | 90.2#1 | $87.1M | 499,471 |
 Alphabet Inc.$GOOGL | 80.2#45 | $81.9M | 285,518 |
| Apple Inc.$AAPL | 76.1 | $70.9M | 279,552 |
| MICROSOFT CORP$MSFT | 83.7 | $60.8M | 164,135 |
 ISHARES GOLD TRUST$IAU | — | $59.2M | 671,733 |
 AMAZON COM INC$AMZN | 74.6 | $46.0M | 220,747 |
 JPMORGAN CHASE & CO$JPM | 35.6 | $38.2M | 129,809 |
 Vulcan Materials CO$VMC | 66.6 | $36.6M | 134,579 |
 Meta Platforms, Inc.$META | 80.9 | $28.1M | 49,136 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Narwhal Capital Management's 169 positions.
Showing top 10 of 169 holdings.
Sector Allocation
Technology
$431.7M
Other
$239.1M
Financials
$213.7M
Industrials
$108.4M
Consumer Discretionary
$93.6M
Healthcare
$81.2M
Materials
$55.1M
Energy
$52.3M
Full Holdings — Narwhal Capital Management (Q1 2026)
All 169 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | — | ISHARES TR | $138.2M | 10.2% | +0% | — |
| 2 | $NVDA | NVIDIA CORP | $87.1M | 6.4% | +0% | 90.2 |
| 3 | $GOOGL | Alphabet Inc. | $81.9M | 6.0% | +0% | 80.2 |
| 4 | $AAPL | Apple Inc. | $70.9M | 5.2% | +1% | 76.1 |
| 5 | $MSFT | MICROSOFT CORP | $60.8M | 4.5% | +2% | 83.7 |
| 6 | $IAU | ISHARES GOLD TRUST | $59.2M | 4.4% | -0% | — |
| 7 | $AMZN | AMAZON COM INC | $46.0M | 3.4% | +2% | 74.6 |
| 8 | $JPM | JPMORGAN CHASE & CO | $38.2M | 2.8% | -0% | 35.6 |
| 9 | $VMC | Vulcan Materials CO | $36.6M | 2.7% | +1% | 66.6 |
| 10 | $META | Meta Platforms, Inc. | $28.1M | 2.1% | +1% | 80.9 |
| 11 |  $JNJ | JOHNSON & JOHNSON | $23.1M | 1.7% | -1% | 72.8 |
| 12 |  $HD | HOME DEPOT, INC. | $22.3M | 1.6% | +6% | 69.2 |
| 13 |  $GS | GOLDMAN SACHS GROUP INC | $21.9M | 1.6% | +4% | — |
| 14 |  $XOM | EXXON MOBIL CORP | $20.3M | 1.5% | -1% | 61.8 |
| 15 |  $ADI | ANALOG DEVICES INC | $20.2M | 1.5% | -3% | 76.2 |
| 16 |  $LLY | ELI LILLY & Co | $19.8M | 1.5% | +3% | 89.3 |
| 17 | — | ISHARES TR | $19.6M | 1.4% | +0% | — |
| 18 |  $LMT | LOCKHEED MARTIN CORP | $19.4M | 1.4% | -3% | 65 |
| 19 |  $BLK | BlackRock, Inc. | $19.3M | 1.4% | -5% | 70.3 |
| 20 |  $AXP | AMERICAN EXPRESS CO | $16.5M | 1.2% | -3% | 73.2 |
| 21 |  $CAT | CATERPILLAR INC | $16.4M | 1.2% | +7% | 67.8 |
| 22 |  $V | VISA INC. | $16.4M | 1.2% | -9% | 83.5 |
| 23 |  $LHX | L3HARRIS TECHNOLOGIES, INC. /DE/ | $16.1M | 1.2% | -9% | 66.5 |
| 24 |  $NEE | NEXTERA ENERGY INC | $16.0M | 1.2% | -3% | 71.7 |
| 25 |  $CSCO | CISCO SYSTEMS, INC. | $14.6M | 1.1% | -8% | 72.3 |
| 26 |  $RTX | RTX Corp | $13.9M | 1.0% | -0% | 70 |
| 27 |  $MRK | Merck & Co., Inc. | $13.4M | 1.0% | -0% | 70.9 |
| 28 | — | ISHARES TR | $13.3M | 1.0% | -0% | — |
| 29 |  $GD | GENERAL DYNAMICS CORP | $13.0M | 1.0% | +1% | 73 |
| 30 |  $PG | PROCTER & GAMBLE Co | $12.9M | 0.9% | +9% | 72.9 |
| 31 |  $NOC | NORTHROP GRUMMAN CORP /DE/ | $11.3M | 0.8% | -16% | 60.5 |
| 32 |  $AVGO | Broadcom Inc. | $10.9M | 0.8% | -4% | 86.4 |
| 33 |  $PM | Philip Morris International Inc. | $10.6M | 0.8% | -6% | 80.5 |
| 34 |  $VLO | VALERO ENERGY CORP/TX | $9.7M | 0.7% | -1% | 51.4 |
| 35 |  $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | $8.9M | 0.7% | -3% | — |
| 36 |  $PEP | PEPSICO INC | $8.7M | 0.6% | -2% | 62.7 |
| 37 |  $AVB | AVALONBAY COMMUNITIES INC | $8.5M | 0.6% | +1% | 57.5 |
| 38 |  $BX | Blackstone Inc. | $8.3M | 0.6% | +1% | 68 |
| 39 |  $ICE | Intercontinental Exchange, Inc. | $8.2M | 0.6% | +205% | 73.8 |
| 40 |  $BTT | BlackRock Municipal 2030 Target Term Trust | $8.1M | 0.6% | -8% | — |
| 41 |  $NVS | NOVARTIS AG | $8.0M | 0.6% | -2% | — |
| 42 | $CINF | CINCINNATI FINANCIAL CORP | $8.0M | 0.6% | +3% | 77 |
| 43 |  $BWXT | BWX Technologies, Inc. | $8.0M | 0.6% | +34% | 68 |
| 44 | $SBUX | STARBUCKS CORP | $7.9M | 0.6% | +7% | 54.6 |
| 45 |  $QQQ | INVESCO QQQ TRUST, SERIES 1 | $7.4M | 0.6% | +3% | — |
| 46 |  $CVX | CHEVRON CORP | $7.4M | 0.6% | +5% | 54.7 |
| 47 |  $ABT | ABBOTT LABORATORIES | $7.4M | 0.5% | -7% | 67 |
| 48 |  $COST | COSTCO WHOLESALE CORP /NEW | $6.7M | 0.5% | +16% | 67 |
| 49 |  $ORCL | ORACLE CORP | $6.7M | 0.5% | +26% | 67.2 |
| 50 |  $MLI | MUELLER INDUSTRIES INC | $6.5M | 0.5% | -6% | 77.5 |
| 51 |  $SUNB | Sunbelt Rentals Holdings, Inc. | $6.5M | 0.5% | NEW | — |
| 52 | — | ISHARES TR | $6.3M | 0.5% | +0% | — |
| 53 |  $SLB | SLB LIMITED/NV | $5.9M | 0.4% | -6% | 63.2 |
| 54 |  $GGG | GRACO INC | $5.7M | 0.4% | +25% | 67.2 |
| 55 |  $RELX | RELX PLC | $5.6M | 0.4% | +13% | — |
| 56 | — | SELECT SECTOR SPDR TR | $5.6M | 0.4% | +0% | — |
| 57 |  $ENTG | ENTEGRIS INC | $5.5M | 0.4% | +6% | 57.7 |
| 58 |  $DPZ | DOMINOS PIZZA INC | $5.4M | 0.4% | -10% | 69.8 |
| 59 |  $HCA | HCA Healthcare, Inc. | $5.4M | 0.4% | -14% | 70.5 |
| 60 |  $CRH | CRH PUBLIC LTD CO | $5.3M | 0.4% | +1% | — |
| 61 |  $KMI | KINDER MORGAN, INC. | $5.2M | 0.4% | +1% | 74.6 |
| 62 | — | STATE STR SPDR DOW JONES IND | $5.1M | 0.4% | +0% | — |
| 63 |  $SGOL | abrdn Gold ETF Trust | $5.1M | 0.4% | -2% | — |
| 64 |  $NFLX | NETFLIX INC | $4.6M | 0.3% | +438% | 86.7 |
| 65 |  $UFPI | UFP INDUSTRIES INC | $4.6M | 0.3% | +12% | 52.7 |
| 66 |  $GLD | SPDR GOLD TRUST | $4.4M | 0.3% | +0% | — |
| 67 |  $QCOM | QUALCOMM INC/DE | $4.4M | 0.3% | -2% | 81.9 |
| 68 |  $CEG | Constellation Energy Corp | $4.4M | 0.3% | -0% | 62.5 |
| 69 |  $GRMN | GARMIN LTD | $4.1M | 0.3% | -4% | — |
| 70 | $ADBE | ADOBE INC. | $4.1M | 0.3% | +31% | 80.4 |
| 71 |  $MU | MICRON TECHNOLOGY INC | $3.7M | 0.3% | -1% | 88.4 |
| 72 |  $BRK.A | BERKSHIRE HATHAWAY INC | $3.6M | 0.3% | +0% | 64.5 |
| 73 | $NOW | ServiceNow, Inc. | $3.4M | 0.3% | +93% | 76 |
| 74 |  $WMT | Walmart Inc. | $3.4M | 0.3% | +9% | 63.2 |
| 75 | — | ISHARES TR | $3.2M | 0.2% | +0% | — |
| 76 | — | SIMPLIFY EXCHANGE TRADED FUN | $3.1M | 0.2% | -14% | — |
| 77 | — | SPDR SERIES TRUST | $3.1M | 0.2% | +0% | — |
| 78 |  $STZ | CONSTELLATION BRANDS, INC. | $3.0M | 0.2% | +239% | 65 |
| 79 | — | FIRST TR HIGH YIELD OPPRT 20 | $2.7M | 0.2% | +27% | — |
| 80 | — | ISHARES TR | $2.5M | 0.2% | +0% | — |
| 81 |  $TSLA | Tesla, Inc. | $2.4M | 0.2% | -1% | 50.1 |
| 82 |  $NXRT | NexPoint Residential Trust, Inc. | $1.9M | 0.1% | +106% | 37 |
| 83 |  $WT | WisdomTree, Inc. | $1.9M | 0.1% | +0% | 62.9 |
| 84 |  $NTRA | Natera, Inc. | $1.8M | 0.1% | -7% | 46.4 |
| 85 |  $EXC | EXELON CORP | $1.8M | 0.1% | -1% | 63.9 |
| 86 |  $ETR | ENTERGY CORP /DE/ | $1.7M | 0.1% | +6% | 65.1 |
| 87 |  $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $1.6M | 0.1% | +0% | — |
| 88 |  $T | AT&T INC. | $1.6M | 0.1% | +0% | 71.9 |
| 89 |  $OKE | ONEOK INC /NEW/ | $1.6M | 0.1% | +0% | 72 |
| 90 |  $IVZ | Invesco Ltd. | $1.4M | 0.1% | -6% | — |
| 91 |  $UNH | UNITEDHEALTH GROUP INC | $1.2M | 0.1% | -18% | 66.8 |
| 92 | — | FIRST TR EXCHANGE-TRADED FD | $1.2M | 0.1% | +38% | — |
| 93 |  $SPY | SPDR S&P 500 ETF TRUST | $1.1M | 0.1% | -14% | — |
| 94 |  $DAL | DELTA AIR LINES, INC. | $1.1M | 0.1% | +0% | 64.4 |
| 95 |  $UL | UNILEVER PLC | $1.1M | 0.1% | -0% | — |
| 96 | — | SCHWAB STRATEGIC TR | $1.1M | 0.1% | -0% | — |
| 97 | — | SELECT SECTOR SPDR TR | $1.0M | 0.1% | +0% | — |
| 98 | — | ISHARES TR | $994,760 | 0.1% | +0% | — |
| 99 | — | VANECK ETF TRUST | $958,139 | 0.1% | +17% | — |
| 100 | — | ISHARES TR | $917,298 | 0.1% | +0% | — |
| 101 | — | VANGUARD WORLD FD | $873,904 | 0.1% | +0% | — |
| 102 |  $KR | KROGER CO | $862,748 | 0.1% | -60% | 51.1 |
| 103 | — | SELECT SECTOR SPDR TR | $851,071 | 0.1% | -1% | — |
| 104 |  $MO | ALTRIA GROUP, INC. | $794,850 | 0.1% | +0% | 72.1 |
| 105 | — | VANGUARD INDEX FDS | $787,969 | 0.1% | +0% | — |
| 106 |  $BATRA | Atlanta Braves Holdings, Inc. | $743,151 | 0.1% | +0% | 30.8 |
| 107 | — | SELECT SECTOR SPDR TR | $715,394 | 0.1% | -0% | — |
| 108 |  $MCD | MCDONALDS CORP | $697,413 | 0.1% | +6% | 73.9 |
| 109 |  $BA | BOEING CO | $688,047 | 0.1% | +22% | 51.8 |
| 110 | — | ISHARES TR | $684,320 | 0.1% | +0% | — |
| 111 |  $MUSA | Murphy USA Inc. | $640,679 | 0.1% | -19% | 53.2 |
| 112 |  $HAL | HALLIBURTON CO | $632,691 | 0.1% | +0% | 50.9 |
| 113 |  $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $628,144 | 0.1% | +0% | 66.4 |
| 114 | — | SELECT SECTOR SPDR TR | $621,408 | 0.1% | +0% | — |
| 115 | — | VANGUARD INDEX FDS | $600,319 | 0.0% | +0% | — |
| 116 |  $DINO | HF Sinclair Corp | $589,586 | 0.0% | +0% | 54 |
| 117 | — | ISHARES TR | $571,595 | 0.0% | +0% | — |
| 118 |  $DIS | Walt Disney Co | $549,687 | 0.0% | +60% | 68.9 |
| 119 | — | VANGUARD INTL EQUITY INDEX F | $527,552 | 0.0% | +0% | — |
| 120 |  $DE | DEERE & CO | $514,856 | 0.0% | +21% | 57.4 |
| 121 | — | ISHARES TR | $494,375 | 0.0% | +0% | — |
| 122 |  $NXPI | NXP Semiconductors N.V. | $494,119 | 0.0% | +0% | — |
| 123 |  $VRT | Vertiv Holdings Co | $489,884 | 0.0% | -27% | 82.7 |
| 124 |  $INTC | INTEL CORP | $476,383 | 0.0% | -41% | 41.5 |
| 125 | — | NEW YORK LIFE INVTS ACTIVE E | $466,139 | 0.0% | -18% | — |
| 126 | — | VANGUARD SCOTTSDALE FDS | $462,748 | 0.0% | +0% | — |
| 127 | — | VANGUARD SCOTTSDALE FDS | $455,826 | 0.0% | +425% | — |
| 128 | — | ISHARES TR | $454,584 | 0.0% | -37% | — |
| 129 |  $CPRT | COPART INC | $438,937 | 0.0% | +35% | 74.9 |
| 130 | — | FIRST TR EXCHANGE-TRADED FD | $435,987 | 0.0% | -18% | — |
| 131 |  $ELV | Elevance Health, Inc. | $432,685 | 0.0% | +0% | 59.4 |
| 132 |  $LNG | Cheniere Energy, Inc. | $430,747 | 0.0% | +9% | 48.4 |
| 133 | — | VANGUARD INDEX FDS | $424,075 | 0.0% | +21% | — |
| 134 | — | VANGUARD INDEX FDS | $408,038 | 0.0% | +0% | — |
| 135 |  $FDX | FEDEX CORP | $398,922 | 0.0% | +0% | 60.3 |
| 136 | — | BLACKROCK 2037 MUNICIPAL TAR | $395,974 | 0.0% | -21% | — |
| 137 |  $TMUS | T-Mobile US, Inc. | $376,794 | 0.0% | -80% | 72.7 |
| 138 |  $SO | SOUTHERN CO | $372,471 | 0.0% | +0% | 65.1 |
| 139 |  $RF | REGIONS FINANCIAL CORP | $370,147 | 0.0% | NEW | — |
| 140 |  $AMGN | AMGEN INC | $357,831 | 0.0% | -9% | 79.5 |
| 141 |  $WFC | WELLS FARGO & COMPANY/MN | $352,752 | 0.0% | +0% | — |
| 142 |  $KO | COCA COLA CO | $338,042 | 0.0% | NEW | 74 |
| 143 | — | ISHARES TR | $327,192 | 0.0% | +1% | — |
| 144 | — | SELECT SECTOR SPDR TR | $311,330 | 0.0% | +0% | — |
| 145 | — | SCHWAB STRATEGIC TR | $308,479 | 0.0% | -1% | — |
| 146 |  $BUD | Anheuser-Busch InBev SA/NV | $305,644 | 0.0% | NEW | — |
| 147 |  $BRK.B | BERKSHIRE HATHAWAY INC | $304,771 | 0.0% | +0% | 64.5 |
| 148 | — | SPDR SERIES TRUST | $303,443 | 0.0% | -50% | — |
| 149 | — | VANGUARD WORLD FD | $300,153 | 0.0% | -6% | — |
| 150 |  $CVS | CVS HEALTH Corp | $297,048 | 0.0% | +0% | 51.3 |
| 151 |  $FERG | Ferguson Enterprises Inc. /DE/ | $294,607 | 0.0% | -7% | 58.9 |
| 152 |  $LUV | SOUTHWEST AIRLINES CO | $281,775 | 0.0% | -4% | 51.1 |
| 153 | — | ISHARES TR | $270,270 | 0.0% | +0% | — |
| 154 | — | SELECT SECTOR SPDR TR | $259,193 | 0.0% | +0% | — |
| 155 |  $DHI | HORTON D R INC /DE/ | $249,329 | 0.0% | +14% | 54.6 |
| 156 |  $UNP | UNION PACIFIC CORP | $246,996 | 0.0% | NEW | 74 |
| 157 |  $UPS | UNITED PARCEL SERVICE INC | $243,611 | 0.0% | +0% | 58.2 |
| 158 | — | ISHARES TR | $231,150 | 0.0% | +0% | — |
| 159 | — | SPDR SERIES TRUST | $230,339 | 0.0% | -19% | — |
| 160 |  $JBHT | HUNT J B TRANSPORT SERVICES INC | $216,774 | 0.0% | NEW | 56.5 |
| 161 | $GOOG | Alphabet Inc. | $213,945 | 0.0% | -8% | 80.2 |
| 162 | — | ISHARES TR | $212,720 | 0.0% | -71% | — |
| 163 |  $VZ | VERIZON COMMUNICATIONS INC | $205,318 | 0.0% | NEW | 71.6 |
| 164 | — | VANGUARD INDEX FDS | $203,611 | 0.0% | +0% | — |
| 165 |  $MKL | MARKEL GROUP INC. | $200,977 | 0.0% | +0% | 68.2 |
| 166 |  $NUV | NUVEEN MUNICIPAL VALUE FUND INC | $161,703 | 0.0% | -31% | — |
| 167 |  $FMY | FIRST TRUST MORTGAGE INCOME FUND | $157,177 | 0.0% | NEW | — |
| 168 |  $FATE | FATE THERAPEUTICS INC | $15,240 | 0.0% | +0% | 6.7 |
| 169 | $NVDAPUT | NVIDIA CORP | $12,300 | — | -99% | 90.2 |
New Positions (8)
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