Narwhal Capital Management
13F Reported Value
ⓘ$1.4B
incl. option notional
Equity Holdings
ⓘ$1.4B
Option Notional
ⓘ$2,654
$2,650 puts / $4 calls
Holdings
157
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
Narwhal Capital Management disclosed 157 positions worth $1.4B in its Form 13F-HR for Q2 2026 — $1.4B in common stock plus $2,654 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 20 — including a new stake in $AMRZ and a full exit from $BTT. The portfolio is most concentrated in Technology (34.6% 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
Concentrating
$NVDA
$GOOG
$AAPL
$MSFT
$NOW$AAPL
$AMZN
$GDSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
ISHARES TR - CORE S&P500 ETF
—Quality
$158.8M212,038 sh- 85.9#5
Quality
$99.7M498,520 sh - 78.2#57
Quality
$98.5M278,904 sh - 76.4
Quality
$81.1M280,237 sh - 79.8
Quality
$60.5M162,292 sh - 68.7
Quality
$54.3M227,622 sh - —
Quality
$50.7M672,087 sh - 70.7
Quality
$42.4M129,578 sh - 63.5
Quality
$39.3M133,357 sh - 79.6
Quality
$26.9M47,775 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES TR - CORE S&P500 ETF | — | $158.8M | 212,038 |
| NVIDIA CORP$NVDA | 85.9#5 | $99.7M | 498,520 |
 Alphabet Inc.$GOOGL | 78.2#57 | $98.5M | 278,904 |
| Apple Inc.$AAPL | 76.4 | $81.1M | 280,237 |
| MICROSOFT CORP$MSFT | 79.8 | $60.5M | 162,292 |
| AMAZON COM INC$AMZN | 68.7 | $54.3M | 227,622 |
 ISHARES GOLD TRUST$IAU | — | $50.7M | 672,087 |
 JPMORGAN CHASE & CO$JPM | 70.7 | $42.4M | 129,578 |
 Vulcan Materials CO$VMC | 63.5 | $39.3M | 133,357 |
 Meta Platforms, Inc.$META | 79.6 | $26.9M | 47,775 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Narwhal Capital Management's 157 positions.
Showing top 10 of 157 holdings.
Sector Allocation
Technology
$500.8M
Other
$255.2M
Financials
$213.4M
Industrials
$116.8M
Consumer Discretionary
$95.4M
Healthcare
$83.0M
Materials
$64.1M
Energy
$45.9M
Top Holdings — Narwhal Capital Management (Q2 2026)
Top 150 of 157 disclosed positions (by reported value) 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 - CORE S&P500 ETF | $158.8M | 11.0% | +0% | — |
| 2 | $NVDA | NVIDIA CORP | $99.7M | 6.9% | -0% | 85.9 |
| 3 | $GOOGL | Alphabet Inc. | $98.5M | 6.8% | -2% | 78.2 |
| 4 | $AAPL | Apple Inc. | $81.1M | 5.6% | +0% | 76.4 |
| 5 | $MSFT | MICROSOFT CORP | $60.5M | 4.2% | -1% | 79.8 |
| 6 | $AMZN | AMAZON COM INC | $54.3M | 3.8% | +3% | 68.7 |
| 7 | $IAU | ISHARES GOLD TRUST | $50.7M | 3.5% | +0% | — |
| 8 | $JPM | JPMORGAN CHASE & CO | $42.4M | 2.9% | -0% | 70.7 |
| 9 | $VMC | Vulcan Materials CO | $39.3M | 2.7% | -1% | 63.5 |
| 10 | $META | Meta Platforms, Inc. | $26.9M | 1.9% | -3% | 79.6 |
| 11 |  $ADI | ANALOG DEVICES INC | $26.0M | 1.8% | +3% | 79.2 |
| 12 |  $GS | GOLDMAN SACHS GROUP INC | $25.2M | 1.7% | -4% | 73.5 |
| 13 |  $LLY | ELI LILLY & Co | $24.5M | 1.7% | -5% | 87.5 |
| 14 |  $JNJ | JOHNSON & JOHNSON | $23.9M | 1.6% | -0% | 69 |
| 15 |  $CAT | CATERPILLAR INC | $23.6M | 1.6% | -4% | 66.5 |
| 16 |  $HD | HOME DEPOT, INC. | $23.1M | 1.6% | -3% | 60.3 |
| 17 |  $CSCO | CISCO SYSTEMS, INC. | $22.6M | 1.6% | +2% | 70.3 |
| 18 | — | ISHARES TR - S&P 500 VAL ETF | $21.1M | 1.4% | +0% | — |
| 19 |  $AXP | AMERICAN EXPRESS CO | $19.1M | 1.3% | +4% | 69.4 |
| 20 |  $BLK | BlackRock, Inc. | $18.1M | 1.3% | -7% | 70 |
| 21 |  $V | VISA INC. | $15.9M | 1.1% | -14% | 82.9 |
| 22 | — | ISHARES TR - RUS 1000 GRW ETF | $15.5M | 1.1% | +300% | — |
| 23 |  $AVGO | Broadcom Inc. | $15.5M | 1.1% | +17% | 84.5 |
| 24 |  $XOM.R34088 | EXXON MOBIL CORP | $15.4M | 1.1% | -6% | 57.9 |
| 25 |  $RTX | RTX Corp | $15.2M | 1.1% | +11% | 73.2 |
| 26 | $GD | GENERAL DYNAMICS CORP | $13.6M | 0.9% | +2% | 68.7 |
| 27 |  $NEE | NEXTERA ENERGY INC | $13.6M | 0.9% | -10% | 64.6 |
| 28 |  $LMT | LOCKHEED MARTIN CORP | $12.8M | 0.9% | -22% | 65.6 |
| 29 |  $MRK | Merck & Co., Inc. | $12.8M | 0.9% | -11% | 59.9 |
| 30 |  $MU | MICRON TECHNOLOGY INC | $12.7M | 0.9% | -0% | 86.2 |
| 31 |  $PG | PROCTER & GAMBLE Co | $12.6M | 0.9% | -4% | 64.6 |
| 32 |  $LHX | L3HARRIS TECHNOLOGIES, INC. /DE/ | $11.7M | 0.8% | -14% | 64.4 |
| 33 |  $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | $11.0M | 0.8% | +12% | 69.7 |
| 34 |  $PM | Philip Morris International Inc. | $10.4M | 0.7% | -10% | 75.9 |
| 35 | $NOW | ServiceNow, Inc. | $10.3M | 0.7% | +217% | 72.9 |
| 36 |  $VLO | VALERO ENERGY CORP/TX | $10.0M | 0.7% | -2% | 57.8 |
| 37 |  $QQQ | INVESCO QQQ TRUST, SERIES 1 | $9.5M | 0.7% | -0% | — |
| 38 |  $CINF | CINCINNATI FINANCIAL CORP | $9.2M | 0.6% | -2% | 84.3 |
| 39 |  $QCOM | QUALCOMM INC/DE | $8.9M | 0.6% | +41% | 70.5 |
| 40 |  $ENTG | ENTEGRIS INC | $8.7M | 0.6% | +3% | 58 |
| 41 |  $NOC | NORTHROP GRUMMAN CORP /DE/ | $8.4M | 0.6% | -1% | 62.9 |
| 42 |  $NVS | NOVARTIS AG | $8.3M | 0.6% | +0% | — |
| 43 |  $AVB | AVALONBAY COMMUNITIES INC | $8.2M | 0.6% | -16% | 65.5 |
| 44 | — | SELECT SECTOR SPDR TR - ST STR TECHN ETF | $8.0M | 0.6% | +0% | — |
| 45 | — | ISHARES TR - S&P 500 GRWT ETF | $7.7M | 0.5% | +0% | — |
| 46 |  $ICE | Intercontinental Exchange, Inc. | $7.6M | 0.5% | +19% | 73.7 |
| 47 |  $BX | Blackstone Inc. | $7.5M | 0.5% | -12% | 74.4 |
| 48 |  $SUNB | Sunbelt Rentals Holdings, Inc. | $7.0M | 0.5% | -6% | 69.7 |
| 49 |  $GGG | GRACO INC | $6.8M | 0.5% | +34% | 63.4 |
| 50 |  $COST | COSTCO WHOLESALE CORP /NEW | $6.6M | 0.5% | +5% | 66.2 |
| 51 |  $SBUX | STARBUCKS CORP | $6.5M | 0.5% | -28% | 58.2 |
| 52 |  $MLI | MUELLER INDUSTRIES INC | $6.5M | 0.5% | -11% | 68.7 |
| 53 |  $ORCL | ORACLE CORP | $6.4M | 0.4% | -4% | 66.2 |
| 54 |  $SLB | SLB LIMITED/NV | $6.1M | 0.4% | +14% | 57.9 |
| 55 |  $PEP | PEPSICO INC | $5.9M | 0.4% | -22% | 63.4 |
| 56 | — | STATE STR SPDR DOW JONES IND - UT SER 1 | $5.8M | 0.4% | +0% | — |
| 57 |  $CVX | CHEVRON CORP | $5.7M | 0.4% | -3% | 62.8 |
| 58 |  $RELX | RELX PLC | $5.6M | 0.4% | +5% | — |
| 59 |  $BWXT | BWX Technologies, Inc. | $5.6M | 0.4% | -26% | 63.8 |
| 60 |  $CRH | CRH PUBLIC LTD CO | $5.4M | 0.4% | -0% | — |
| 61 |  $KMI | KINDER MORGAN, INC. | $5.0M | 0.3% | -0% | 71.3 |
| 62 |  $GRMN | GARMIN LTD | $4.8M | 0.3% | +14% | — |
| 63 |  $NFLX | NETFLIX INC | $4.8M | 0.3% | +39% | 78.8 |
| 64 |  $SGOL | abrdn Gold ETF Trust | $4.3M | 0.3% | -0% | — |
| 65 |  $UFPI | UFP INDUSTRIES INC | $4.3M | 0.3% | -5% | 48.6 |
| 66 |  $GLD | SPDR GOLD TRUST | $3.8M | 0.3% | -0% | — |
| 67 |  $BRK.A | BERKSHIRE HATHAWAY INC | $3.7M | 0.3% | +0% | 73.8 |
| 68 |  $CEG | Constellation Energy Corp | $3.5M | 0.2% | -10% | 59.4 |
| 69 |  $AMRZ | Amrize Ltd | $3.5M | 0.2% | NEW | — |
| 70 |  $TSLA | Tesla, Inc. | $3.3M | 0.2% | +21% | 53.9 |
| 71 | — | ISHARES TR - SELECT DIVID ETF | $3.3M | 0.2% | +0% | — |
| 72 | — | SPDR SERIES TRUST - ST STR SP DIV | $3.1M | 0.2% | -2% | — |
| 73 |  $STZ | CONSTELLATION BRANDS, INC. | $3.1M | 0.2% | +12% | 59.8 |
| 74 | — | ISHARES TR - CORE S&P SCP ETF | $3.0M | 0.2% | +0% | — |
| 75 |  $DGX | QUEST DIAGNOSTICS INC | $2.8M | 0.2% | NEW | 69 |
| 76 |  $WMT | Walmart Inc. | $2.8M | 0.2% | -10% | 60.2 |
| 77 |  $HCA | HCA Healthcare, Inc. | $2.7M | 0.2% | -40% | 68.9 |
| 78 |  $ABT | ABBOTT LABORATORIES | $2.5M | 0.2% | -62% | 65.5 |
| 79 |  $ASML | ASML HOLDING NV | $2.5M | 0.2% | NEW | — |
| 80 |  $NTRA | Natera, Inc. | $2.4M | 0.2% | -2% | 53.5 |
| 81 |  $NXRT | NexPoint Residential Trust, Inc. | $2.3M | 0.2% | +8% | 38.9 |
| 82 |  $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $2.2M | 0.1% | +0% | — |
| 83 | — | VANGUARD INDEX FDS - REAL ESTATE ETF | $2.1M | 0.1% | +353% | — |
| 84 |  $WT | WisdomTree, Inc. | $2.1M | 0.1% | +0% | 59.9 |
| 85 |  $IVZ | Invesco Ltd. | $2.1M | 0.1% | +0% | — |
| 86 |  $ADBE | ADOBE INC. | $1.9M | 0.1% | -44% | 77.6 |
| 87 |  $UNH | UNITEDHEALTH GROUP INC | $1.9M | 0.1% | -1% | 62.7 |
| 88 |  $ETR | ENTERGY CORP /DE/ | $1.7M | 0.1% | +1% | 59.5 |
| 89 |  $EXC | EXELON CORP | $1.7M | 0.1% | +0% | 59.6 |
| 90 |  $DAL | DELTA AIR LINES, INC. | $1.6M | 0.1% | +0% | 57.5 |
| 91 |  $OKE | ONEOK INC /NEW/ | $1.5M | 0.1% | +0% | 71.7 |
| 92 |  $SPY | SPDR S&P 500 ETF TRUST | $1.3M | 0.1% | -1% | — |
| 93 | — | ISHARES TR - RUS MID CAP ETF | $1.1M | 0.1% | +0% | — |
| 94 | — | SCHWAB STRATEGIC TR - US DIVIDEND EQ | $1.1M | 0.1% | -1% | — |
| 95 |  $T | AT&T INC. | $1.0M | 0.1% | -7% | 65.7 |
| 96 | — | ISHARES TR - S&P MC 400VL ETF | $1.0M | 0.1% | +0% | — |
| 97 | — | SELECT SECTOR SPDR TR - ST STR UTIL ETF | $1.0M | 0.1% | +0% | — |
| 98 |  $DPZ | DOMINOS PIZZA INC | $1.0M | 0.1% | -77% | 60.1 |
| 99 | — | VANGUARD WORLD FD - INDUSTRIAL ETF | $1.0M | 0.1% | +0% | — |
| 100 |  $SAIA | SAIA INC | $996,465 | 0.1% | NEW | 58.2 |
| 101 | — | VANGUARD INDEX FDS - GROWTH ETF | $930,312 | 0.1% | +499% | — |
| 102 |  $BATRA | Atlanta Braves Holdings, Inc. | $903,268 | 0.1% | +0% | 20.5 |
| 103 |  $TMUS | T-Mobile US, Inc. | $870,351 | 0.1% | +189% | 69.1 |
| 104 | — | VANGUARD WORLD FD - MATERIALS ETF | $870,088 | 0.1% | +186% | — |
| 105 |  $MO | ALTRIA GROUP, INC. | $866,638 | 0.1% | +0% | 67.4 |
| 106 | — | SELECT SECTOR SPDR TR - ST STR CARE ETF | $843,278 | 0.1% | -8% | — |
| 107 | — | ISHARES TR - MSCI EMG MKT ETF | $826,324 | 0.1% | +0% | — |
| 108 |  $INTC | INTEL CORP | $751,768 | 0.1% | -50% | 45.6 |
| 109 |  $UL | UNILEVER PLC | $745,368 | 0.1% | -37% | — |
| 110 | — | VANGUARD INDEX FDS - EXTEND MKT ETF | $718,195 | 0.1% | +0% | — |
| 111 |  $NXPI | NXP Semiconductors N.V. | $705,385 | 0.1% | +0% | — |
| 112 |  $CVS | CVS HEALTH Corp | $687,529 | 0.1% | +61% | 59.4 |
| 113 |  $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $659,842 | 0.1% | +8% | 61.4 |
| 114 |  $DINO | HF Sinclair Corp | $658,193 | 0.1% | +0% | 58.7 |
| 115 |  $BA | BOEING CO | $645,081 | 0.0% | -14% | 61.6 |
| 116 |  $MCD | MCDONALDS CORP | $634,418 | 0.0% | +5% | 69 |
| 117 | — | SELECT SECTOR SPDR TR - ST STR STAPL ETF | $629,671 | 0.0% | +0% | — |
| 118 | — | SELECT SECTOR SPDR TR - ST STR ENERG ETF | $623,724 | 0.0% | +1% | — |
| 119 |  $JBHT | HUNT J B TRANSPORT SERVICES INC | $611,276 | 0.0% | +106% | 60.2 |
| 120 |  $DIS | Walt Disney Co | $597,841 | 0.0% | +9% | 60.1 |
| 121 | — | VANGUARD INTL EQUITY INDEX F - FTSE EUROPE ETF | $566,656 | 0.0% | +0% | — |
| 122 |  $MUSA | Murphy USA Inc. | $556,114 | 0.0% | -20% | 52.7 |
| 123 |  $HAL | HALLIBURTON CO | $550,907 | 0.0% | +0% | 53.2 |
| 124 | — | ISHARES TR - US AER DEF ETF | $547,869 | 0.0% | +0% | — |
| 125 | — | ISHARES TR - RUSSELL 2000 ETF | $547,420 | 0.0% | -1% | — |
| 126 | — | VANGUARD SCOTTSDALE FDS - VNG RUS1000IDX | $531,113 | 0.0% | +0% | — |
| 127 |  $KR | KROGER CO | $507,711 | 0.0% | -23% | 52.6 |
| 128 | — | ISHARES TR - U.S. ENERGY ETF | $499,407 | 0.0% | +0% | — |
| 129 | — | VANGUARD INDEX FDS - SML CP GRW ETF | $493,695 | 0.0% | +0% | — |
| 130 |  $VRT | Vertiv Holdings Co | $470,087 | 0.0% | -28% | 81 |
| 131 |  $RF | REGIONS FINANCIAL CORP | $427,602 | 0.0% | -0% | 61.5 |
| 132 |  $DE | DEERE & CO | $407,874 | 0.0% | -30% | 55.4 |
| 133 | — | SCHWAB STRATEGIC TR - US LRG CAP ETF | $383,549 | 0.0% | +8% | — |
| 134 |  $SO | SOUTHERN CO | $369,345 | 0.0% | +0% | 62 |
| 135 |  $WFC | WELLS FARGO & COMPANY/MN | $366,178 | 0.0% | +0% | 61.8 |
| 136 |  $BUD | Anheuser-Busch InBev SA/NV | $364,208 | 0.0% | +0% | — |
| 137 |  $ADSK | Autodesk, Inc. | $360,066 | 0.0% | NEW | 78.6 |
| 138 | — | SELECT SECTOR SPDR TR - ST STR INDL ETF | $356,568 | 0.0% | +0% | — |
| 139 |  $FDX | FEDEX CORP | $350,706 | 0.0% | +0% | 60.3 |
| 140 |  $AMGN | AMGEN INC | $347,273 | 0.0% | -6% | 79.2 |
| 141 |  $UNP | UNION PACIFIC CORP | $337,562 | 0.0% | +22% | 69.7 |
| 142 |  $BRK.B | BERKSHIRE HATHAWAY INC | $322,752 | 0.0% | +1% | 73.8 |
| 143 |  $LNG | Cheniere Energy, Inc. | $321,250 | 0.0% | -11% | 66.5 |
| 144 |  $IBIT | iShares Bitcoin Trust ETF | $316,944 | 0.0% | NEW | — |
| 145 | $GOOG | Alphabet Inc. | $302,086 | 0.0% | +14% | 78.2 |
| 146 | — | ISHARES TR - CORE 60 BALA ETF | $291,900 | 0.0% | +0% | — |
| 147 | — | SELECT SECTOR SPDR TR - ST STR FINL ETF | $281,453 | 0.0% | +0% | — |
| 148 |  $UPS | UNITED PARCEL SERVICE INC | $266,206 | 0.0% | +0% | 58.6 |
| 149 | — | ISHARES TR - US HLTHCARE ETF | $251,288 | 0.0% | +0% | — |
| 150 | — | ISHARES TR - CORE S&P MCP ETF | $242,897 | 0.0% | +0% | — |
New Positions (8)
Exited Positions (20)
$BTT BlackRock Municipal 2030 Target Term Trust
$CPRT COPART INC
$KO COCA COLA CO
$FERG Ferguson Enterprises Inc. /DE/
$LUV SOUTHWEST AIRLINES COBrowse Top Institutional Investors
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