Narwhal Capital Management Top Holdings and 13F Report (2025)

About Narwhal Capital Management

Investment Activity

Narwhal Capital Management has $1.12 billion in total holdings as of March 31, 2025.
Narwhal Capital Management owns shares of 161 different stocks, but just 44 companies or ETFs make up 80% of its holdings.
Approximately 7.20% of the portfolio was purchased this quarter.
About 3.42% of the portfolio was sold this quarter.
This quarter, Narwhal Capital Management has purchased 161 new stocks and bought additional shares in 54 stocks.
Narwhal Capital Management sold shares of 50 stocks and completely divested from 5 stocks this quarter.

Largest Holdings

iShares Core S&P 500 ETF: $98,546,686
Apple: $61,603,918
Microsoft: $60,327,112
NVIDIA: $55,418,914
Alphabet: $48,104,880

Largest New Holdings this Quarter

90278Q108 - UFP Industries: $4,221,015 Holding
45409F843 - NYLI MacKay Municipal Insured ETF: $662,727 Holding
911312106 - United Parcel Service: $533,232 Holding
78464A474 - SPDR Portfolio Short Term Corporate Bond ETF: $280,050 Holding
92206C847 - Vanguard Long-Term Treasury Index ETF: $274,396 Holding

Largest Purchases this Quarter

AvalonBay Communities: 33,928 shares (about $7.28M)
iShares Core S&P 500 ETF: 7,902 shares (about $4.44M)
UFP Industries: 39,434 shares (about $4.22M)
Canadian Pacific Kansas City: 56,419 shares (about $3.96M)
Lululemon Athletica: 13,600 shares (about $3.85M)

Largest Sales this Quarter

UnitedHealth Group: 11,668 shares (about $6.11M)
QUALCOMM: 30,777 shares (about $4.73M)
HCA Healthcare: 9,056 shares (about $3.13M)
Lockheed Martin: 4,742 shares (about $2.12M)
PepsiCo: 12,818 shares (about $1.92M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
IVV iShares Core S&P 500 ETF	$98,546,686	$4,440,138 ▲	4.7%	175,381	8.8%	ETF
AAPL Apple	$61,603,918	$725,032 ▲	1.2%	277,333	5.5%	Computer and Technology
MSFT Microsoft	$60,327,112	$1,006,046 ▲	1.7%	160,705	5.4%	Computer and Technology
NVDA NVIDIA	$55,418,914	$1,640,439 ▼	-2.9%	511,339	4.9%	Computer and Technology
GOOG Alphabet	$48,104,880	$1,831,482 ▲	4.0%	307,911	4.3%	Computer and Technology
AMZN Amazon.com	$40,101,671	$649,738 ▲	1.6%	210,773	3.6%	Retail/Wholesale
IAU iShares Gold Trust	$39,993,924	$126,233 ▼	-0.3%	678,323	3.6%	Finance
JPM JPMorgan Chase & Co.	$32,032,596	$1,181,123 ▲	3.8%	130,585	2.9%	Finance
VMC Vulcan Materials	$28,800,885	$203,671 ▼	-0.7%	123,450	2.6%	Construction
META Meta Platforms	$25,846,868	$589,616 ▲	2.3%	44,845	2.3%	Computer and Technology
HD Home Depot	$21,756,340	$1,397,428 ▲	6.9%	59,364	1.9%	Retail/Wholesale
BLACKROCK INC	$20,982,980	$430,658 ▲	2.1%	22,169	1.9%	COM
V Visa	$18,437,445	$1,113,417 ▲	6.4%	52,609	1.6%	Business Services
GS The Goldman Sachs Group	$18,335,815	$2,903,553 ▲	18.8%	33,564	1.6%	Finance
LLY Eli Lilly and Company	$17,782,708	$763,968 ▼	-4.1%	21,531	1.6%	Medical
IVE iShares S&P 500 Value ETF	$17,778,065	$667,030 ▲	3.9%	93,284	1.6%	ETF
PG Procter & Gamble	$17,382,589	$2,315,656 ▲	15.4%	101,999	1.5%	Consumer Staples
JNJ Johnson & Johnson	$17,068,915	$482,263 ▲	2.9%	102,924	1.5%	Medical
MRK Merck & Co., Inc.	$15,463,404	$3,094,745 ▲	25.0%	172,275	1.4%	Medical
LMT Lockheed Martin	$14,083,732	$2,118,278 ▼	-13.1%	31,528	1.3%	Aerospace
PM Philip Morris International	$13,588,717	$2,466,506 ▲	22.2%	85,609	1.2%	Consumer Staples
AXP American Express	$13,575,775	$239,724 ▲	1.8%	50,458	1.2%	Finance
UNH UnitedHealth Group	$12,828,273	$6,111,146 ▼	-32.3%	24,493	1.1%	Medical
GD General Dynamics	$12,437,280	$1,832,283 ▲	17.3%	45,628	1.1%	Aerospace
LHX L3Harris Technologies	$11,673,860	$2,072,171 ▲	21.6%	55,773	1.0%	Aerospace
CSCO Cisco Systems	$11,247,776	$1,535,471 ▲	15.8%	182,268	1.0%	Computer and Technology
IWF iShares Russell 1000 Growth ETF	$11,213,289	$5,777 ▼	-0.1%	31,054	1.0%	ETF
XOM Exxon Mobil	$10,853,773	$1,594,968 ▲	17.2%	91,262	1.0%	Energy
NEE NextEra Energy	$10,763,687	$1,166,357 ▼	-9.8%	151,836	1.0%	Utilities
AVGO Broadcom	$10,268,984	$3,696,519 ▲	56.2%	61,333	0.9%	Computer and Technology
CP Canadian Pacific Kansas City	$10,130,320	$3,961,178 ▲	64.2%	144,286	0.9%	Transportation
QCOM QUALCOMM	$9,459,670	$4,727,684 ▼	-33.3%	61,582	0.8%	Computer and Technology
BX Blackstone	$9,031,745	$2,304,413 ▲	34.3%	64,614	0.8%	Finance
BTT Blackrock Municipal 2030 Target Term Trust	$8,986,898	$292,104 ▼	-3.1%	423,311	0.8%	Financial Services
ADI Analog Devices	$8,713,757	$209,938 ▼	-2.4%	43,208	0.8%	Computer and Technology
NOC Northrop Grumman	$8,520,358	$1,175,575 ▼	-12.1%	16,641	0.8%	Aerospace
AVB AvalonBay Communities	$8,480,709	$7,281,627 ▲	607.3%	39,515	0.8%	Finance
RTX RTX	$8,365,114	$42,652 ▲	0.5%	63,152	0.7%	Aerospace
CAT Caterpillar	$8,113,740	$68,269 ▼	-0.8%	24,602	0.7%	Industrials
ABT Abbott Laboratories	$7,966,303	$1,138,403 ▲	16.7%	60,055	0.7%	Medical
GGG Graco	$7,516,819	$535,299 ▲	7.7%	90,011	0.7%	Industrials
COST Costco Wholesale	$7,166,194	$51,072 ▲	0.7%	7,577	0.6%	Retail/Wholesale
CSGP CoStar Group	$6,857,515	$2,759,343 ▲	67.3%	86,552	0.6%	Computer and Technology
PEP PepsiCo	$6,716,430	$1,921,936 ▼	-22.2%	44,794	0.6%	Consumer Staples
MLI Mueller Industries	$6,713,492	$3,222,778 ▲	92.3%	88,173	0.6%	Industrials
VLO Valero Energy	$6,712,755	$426,324 ▲	6.8%	50,827	0.6%	Energy
MUSA Murphy USA	$6,301,562	$3,128,465 ▲	98.6%	13,413	0.6%	Retail/Wholesale
CVX Chevron	$5,854,648	$105,895 ▲	1.8%	34,997	0.5%	Energy
NVS Novartis	$5,794,953	$136,674 ▼	-2.3%	51,982	0.5%	Medical
QQQ Invesco QQQ	$5,731,140	$1,075,234 ▲	23.1%	12,222	0.5%	Finance
STZ Constellation Brands	$5,697,195	$30,097 ▲	0.5%	31,044	0.5%	Consumer Staples
CINF Cincinnati Financial	$5,582,339	$671,831 ▼	-10.7%	37,790	0.5%	Finance
LULU Lululemon Athletica	$5,315,018	$3,849,616 ▲	262.7%	18,777	0.5%	Consumer Discretionary
IVW iShares S&P 500 Growth ETF	$5,225,308	$26,828 ▲	0.5%	56,289	0.5%	ETF
MLR Miller Industries	$5,147,913	$858,967 ▲	20.0%	121,499	0.5%	Auto/Tires/Trucks
CRH PLC	$4,867,204	$427,622 ▼	-8.1%	55,328	0.4%	ORD
DIA SPDR Dow Jones Industrial Average ETF Trust	$4,652,270	$840 ▼	0.0%	11,080	0.4%	Finance
DIS Walt Disney	$4,609,108	$760,585 ▲	19.8%	46,698	0.4%	Consumer Discretionary
XLK Technology Select Sector SPDR Fund	$4,336,080		0.0%	21,000	0.4%	ETF
KMI Kinder Morgan	$4,311,939		0.0%	151,137	0.4%	Energy
UFPI UFP Industries	$4,221,015	$4,221,015 ▲	New Holding	39,434	0.4%	Construction
GLD SPDR Gold Shares	$4,137,402	$68,001 ▼	-1.6%	14,359	0.4%	Finance
DOMINOS PIZZA INC	$4,021,566	$907,414 ▼	-18.4%	8,753	0.4%	COM
CHX ChampionX	$4,015,103	$74,381 ▼	-1.8%	134,735	0.4%	Construction
BRK.A Berkshire Hathaway	$3,992,208		0.0%	5	0.4%	Finance
HCA HCA Healthcare	$3,610,998	$3,129,301 ▼	-46.4%	10,450	0.3%	Medical
ENTG Entegris	$3,597,615	$991,848 ▼	-21.6%	41,125	0.3%	Computer and Technology
SGOL abrdn Physical Gold Shares ETF	$3,583,768	$213,511 ▼	-5.6%	120,180	0.3%	ETF
DVY iShares Select Dividend ETF	$3,484,288	$403 ▼	0.0%	25,946	0.3%	ETF
RH RH	$3,328,153	$1,642,980 ▲	97.5%	14,198	0.3%	Consumer Staples
CEG Constellation Energy	$3,157,123		0.0%	15,658	0.3%	Energy
ORCL Oracle	$3,070,605	$2,146,613 ▲	232.3%	21,963	0.3%	Computer and Technology
SIMPLIFY EXCHANGE TRADED FUN	$2,924,265	$392,747 ▲	15.5%	58,322	0.3%	MBS ETF
SDY SPDR S&P Dividend ETF	$2,847,788		0.0%	20,989	0.3%	ETF
NOV NOV	$2,788,593	$54,001 ▼	-1.9%	183,219	0.2%	Energy
TGT Target	$2,747,730	$1,080,140 ▼	-28.2%	26,329	0.2%	Retail/Wholesale
ADBE Adobe	$2,723,063	$128,866 ▼	-4.5%	7,100	0.2%	Computer and Technology
WMT Walmart	$2,644,147	$810,126 ▲	44.2%	30,119	0.2%	Retail/Wholesale
IJR iShares Core S&P Small-Cap ETF	$2,463,907		0.0%	23,562	0.2%	ETF
VAW Vanguard Materials ETF	$2,417,334	$980,868 ▼	-28.9%	12,803	0.2%	ETF
SLB Schlumberger	$2,385,735	$734,426 ▼	-23.5%	57,075	0.2%	Energy
SBUX Starbucks	$2,300,799	$87,594 ▼	-3.7%	23,456	0.2%	Retail/Wholesale
GRMN Garmin	$2,289,853	$1,715,544 ▼	-42.8%	10,546	0.2%	Computer and Technology
EXC Exelon	$2,174,054		0.0%	47,180	0.2%	Utilities
VNQ Vanguard Real Estate ETF	$2,020,853	$1,312,106 ▼	-39.4%	22,320	0.2%	ETF
BWXT BWX Technologies	$1,873,462	$196,116 ▼	-9.5%	18,991	0.2%	Computer and Technology
OKE ONEOK	$1,746,470		0.0%	17,602	0.2%	Energy
DGRW WisdomTree U.S. Quality Dividend Growth Fund	$1,739,271		0.0%	21,779	0.2%	Manufacturing
ELV Elevance Health	$1,598,478	$260,976 ▼	-14.0%	3,675	0.1%	Medical
AMGN Amgen	$1,575,197	$8,100 ▼	-0.5%	5,056	0.1%	Medical
MO Altria Group	$1,563,221		0.0%	26,045	0.1%	Consumer Staples
UL Unilever	$1,559,079	$238 ▼	0.0%	26,181	0.1%	Consumer Staples
T AT&T	$1,515,667		0.0%	53,595	0.1%	Computer and Technology
NTRA Natera	$1,413,110	$494,086 ▲	53.8%	9,993	0.1%	Medical
NXRT NexPoint Residential Trust	$1,271,364	$613,031 ▼	-32.5%	32,162	0.1%	Finance
DE Deere & Company	$1,263,021	$798,364 ▲	171.8%	2,691	0.1%	Industrials
NOW ServiceNow	$1,172,714	$591,532 ▼	-33.5%	1,473	0.1%	Computer and Technology
TSLA Tesla	$1,169,848	$758,561 ▼	-39.3%	4,514	0.1%	Auto/Tires/Trucks
SPY SPDR S&P 500 ETF Trust	$1,117,102	$28,529 ▲	2.6%	1,997	0.1%	Finance
ETR Entergy	$1,111,370		0.0%	13,000	0.1%	Utilities

Showing largest 100 holdings. View all holdings.

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Narwhal Capital Management Top Holdings and 13F Report (2025)

About Narwhal Capital Management

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

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Narwhal Capital Management Top Holdings and 13F Report (2025)

About Narwhal Capital Management

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofNarwhal Capital Management

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools