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Asset Manager ← All Institutions

Narwhal Capital Management

531 ROSELANE STREET SUITE 420, MARIETTA, GA 30060 • 770-344-0172

Q2 2025 · Filed 2025-07-23
Market Value
$1.2B
+10.9%
Holdings
170
+6
New Purchases
11
Added To
45
Closed
10
Reduced
70
Top 10 Concentration
47.2%
Turnover
12.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 6.41% 4.99% +1.42% $79M
IVV 9.89% 8.87% +1.03% $122M
MSFT 6.35% 5.43% +0.92% $78M
META 2.99% 2.33% +0.67% $37M
RELX 0.55% 0.00% +0.55% $7M
ADI 1.24% 0.78% +0.45% $15M
AVGO 1.30% 0.92% +0.37% $16M
BWXT 0.50% 0.17% +0.33% $6M
GRMN 0.53% 0.21% +0.32% $7M
AXP 1.54% 1.22% +0.31% $19M
FTHY 0.25% 0.00% +0.25% $3M
ORCL 0.48% 0.28% +0.20% $6M
AMZN 3.80% 3.61% +0.19% $47M
GS 1.78% 1.65% +0.13% $22M
CEG 0.41% 0.28% +0.13% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 4.58% 5.54% -0.97% $56M
UNH 0.36% 1.15% -0.80% $4M
JNJ 1.00% 1.54% -0.54% $12M
MRK 0.94% 1.39% -0.45% $12M
MUSA 0.27% 0.57% -0.29% $3M
PG 1.29% 1.56% -0.27% $16M
CSCO 0.78% 1.01% -0.24% $10M
V 1.45% 1.66% -0.21% $18M
DIS 0.21% 0.41% -0.20% $3M
IAU 3.40% 3.60% -0.20% $42M
TGT 0.06% 0.25% -0.19% $689K
XOM 0.80% 0.98% -0.17% $10M
LHX 0.88% 1.05% -0.17% $11M
CINF 0.33% 0.50% -0.17% $4M
QCOM 0.69% 0.85% -0.16% $9M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 34.2%
Technology 22.2%
Communication Services 9.2%
Industrials 8.6%
Consumer Cyclical 6.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 43 $785M 63.7%
Large Cap 99 $400M 32.5%
Mid Cap 15 $21M 1.7%
Small Cap 8 $25M 2.1%
Micro Cap 5 $875K 0.1%

Portfolio Analytics

Avg Market Cap
$327.4B
Median Market Cap
$73.8B
Avg P/E
30.5
Median P/E
24.4
Avg Dividend Yield
0.03%
Avg Beta
0.90
# Stocks
114
# ETFs / Funds
56

Top Holdings (170 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 9.89% 196,429 $122M $620.90 $23M +21,048 +12.0%
2 NVDA 6.41% 499,817 $79M $157.99 $24M -11,522 -2.2%
3 MSFT 6.35% 157,248 $78M $497.41 $18M -3,457 -2.1%
4 AAPL 4.58% 274,968 $56M $205.17 -$5M -2,365 -0.8%
5 GOOG 4.20% 291,507 $52M $177.39 $4M -16,404 -5.3%
6 AMZN 3.80% 213,231 $47M $219.39 $7M +2,458 +1.2%
7 IAU 3.40% 671,755 $42M $62.36 $2M -6,568 -1.0%
8 META 2.99% 49,989 $37M $738.09 $11M +5,144 +11.5%
9 JPM 2.98% 126,494 $37M $289.91 $5M -4,091 -3.1%
10 VMC 2.60% 122,835 $32M $260.82 $3M -615 -0.5%
11 HD 1.99% 66,967 $25M $366.64 $3M +7,603 +12.8%
12 BLK 1.98% 23,201 $24M $1,049.27 $3M +1,032 +4.7%
13 GS 1.78% 30,971 $22M $707.76 $4M -2,593 -7.7%
14 LLY 1.60% 25,376 $20M $779.53 $2M +3,845 +17.9%
15 AXP 1.54% 59,334 $19M $318.98 $5M +8,876 +17.6%
16 IVE 1.48% 93,284 $18M $195.42 $451K
17 V 1.45% 50,246 $18M $355.05 -$598K -2,363 -4.5%
18 AVGO 1.30% 57,998 $16M $275.65 $6M -3,335 -5.4%
19 PG 1.29% 99,985 $16M $159.32 -$1M -2,014 -2.0%
20 ADI 1.24% 64,070 $15M $238.02 $7M +20,862 +48.3%
21 LMT 1.20% 31,901 $15M $463.14 $691K +373 +1.2%
22 PM 1.13% 76,782 $14M $182.13 $396K -8,827 -10.3%
23 IWF 1.08% 31,350 $13M $424.58 $2M +296 +0.9%
24 NEE 1.01% 179,893 $12M $69.42 $2M +28,057 +18.5%
25 JNJ 1.00% 80,616 $12M $152.75 -$5M -22,308 -21.7%
26 GD 0.98% 41,392 $12M $291.66 -$365K -4,236 -9.3%
27 MRK 0.94% 146,211 $12M $79.16 -$4M -26,064 -15.1%
28 AVB 0.89% 53,912 $11M $203.50 $2M +14,397 +36.4%
29 LHX 0.88% 43,369 $11M $250.84 -$795K -12,404 -22.2%
30 BX 0.85% 69,983 $10M $149.58 $1M +5,369 +8.3%
31 CAT 0.83% 26,202 $10M $388.21 $2M +1,600 +6.5%
32 XOM 0.80% 91,759 $10M $107.80 -$962K +497 +0.5%
33 CSCO 0.78% 137,919 $10M $69.38 -$2M -44,349 -24.3%
34 BTT 0.75% 423,363 $9M $21.89 $281K +52 +0.0%
35 RTX 0.73% 61,575 $9M $146.02 $626K -1,577 -2.5%
36 ABT 0.72% 65,569 $9M $136.01 $952K +5,514 +9.2%
37 QCOM 0.69% 53,435 $9M $159.26 -$950K -8,147 -13.2%
38 VLO 0.67% 61,730 $8M $134.42 $2M +10,903 +21.4%
39 NOC 0.67% 16,547 $8M $499.98 -$247K -94 -0.6%
40 MLI 0.60% 92,862 $7M $79.47 $666K +4,689 +5.3%
41 GGG 0.57% 82,381 $7M $85.97 -$435K -7,630 -8.5%
42 COST 0.57% 7,131 $7M $989.94 -$107K -446 -5.9%
43 QQQ 0.56% 12,446 $7M $551.64 $1M +224 +1.8%
44 MLR 0.55% 153,479 $7M $44.46 $2M +31,980 +26.3%
45 RELX 0.55% 124,920 $7M $54.34 +124,920 NEW
46 GRMN 0.53% 31,297 $7M $208.72 $4M +20,751 +196.8%
47 CSGP 0.52% 80,421 $6M $80.40 -$392K -6,131 -7.1%
48 BWXT 0.50% 42,936 $6M $144.06 $4M +23,945 +126.1%
49 IVW 0.50% 56,000 $6M $110.10 $940K -289 -0.5%
50 NVS 0.50% 50,760 $6M $121.01 $348K -1,222 -2.4%
51 ORCL 0.48% 26,929 $6M $218.63 $3M +4,966 +22.6%
52 PEP 0.45% 42,161 $6M $132.04 -$1M -2,633 -5.9%
53 LULU 0.44% 22,921 $5M $237.58 $131K +4,144 +22.1%
54 UFPI 0.44% 54,319 $5M $99.36 $1M +14,885 +37.8%
55 XLK 0.43% 21,000 $5M $253.23 $982K
56 CEG 0.41% 15,718 $5M $322.76 $2M +60 +0.4%
57 CVX 0.40% 34,374 $5M $143.19 -$933K -623 -1.8%
58 DIA 0.40% 11,080 $5M $440.65 $230K
59 CRH.L 0.39% 52,945 $5M $91.80 -$7K -2,383 -4.3%
60 ENTG 0.37% 56,697 $5M $80.65 $975K +15,572 +37.9%
61 KMI 0.36% 151,137 $4M $29.40 $131K
62 UNH 0.36% 14,113 $4M $311.97 -$8M -10,380 -42.4%
63 STZ 0.35% 26,832 $4M $162.68 -$1M -4,212 -13.6%
64 CINF 0.33% 27,690 $4M $148.92 -$1M -10,100 -26.7%
65 SLB 0.32% 117,557 $4M $33.80 $2M +60,482 +106.0%
66 SGOL 0.30% 117,976 $4M $31.54 $137K -2,204 -1.8%
67 BRK-A 0.30% 5 $4M $728,800.00 -$348K
68 RH 0.29% 18,979 $4M $189.01 $259K +4,781 +33.7%
69 MTBA 0.29% 71,250 $4M $50.09 $645K +12,928 +22.2%
70 DPZ 0.28% 7,687 $3M $450.60 -$558K -1,066 -12.2%
71 MUSA 0.27% 8,244 $3M $406.80 -$3M -5,169 -38.5%
72 GLD 0.26% 10,440 $3M $304.83 -$955K -3,919 -27.3%
73 CHX 0.26% 127,334 $3M $24.84 -$852K -7,401 -5.5%
74 WMT 0.26% 32,206 $3M $97.78 $505K +2,087 +6.9%
75 FTHY 0.25% 209,151 $3M $14.85 +209,151 NEW
76 SBUX 0.24% 32,738 $3M $91.63 $699K +9,282 +39.6%
77 SDY 0.23% 20,989 $3M $135.73 $1K
78 HCA 0.23% 7,335 $3M $383.10 -$801K -3,115 -29.8%
79 DVY 0.23% 20,911 $3M $132.81 -$707K -5,035 -19.4%
80 DIS 0.21% 21,203 $3M $124.01 -$2M -25,495 -54.6%
81 TSLA 0.18% 7,166 $2M $317.66 $1M +2,652 +58.8%
82 NTRA 0.18% 13,325 $2M $168.94 $838K +3,332 +33.3%
83 IJR 0.18% 20,563 $2M $109.29 -$217K -2,999 -12.7%
84 ADBE 0.16% 5,009 $2M $386.88 -$785K -2,091 -29.4%
85 EXC 0.15% 42,180 $2M $43.42 -$343K -5,000 -10.6%
86 DGRW 0.15% 21,779 $2M $83.74 $85K
87 UL 0.13% 26,181 $2M $61.17 $42K
88 T 0.13% 53,595 $2M $28.94 $35K
89 OKE 0.12% 17,602 $1M $81.63 -$310K
90 NOW 0.12% 1,394 $1M $1,028.08 $260K -79 -5.4%
91 SPY 0.11% 2,189 $1M $617.85 $235K +192 +9.6%
92 ANTM 0.11% 3,375 $1M $388.96 -$286K -300 -8.2%
93 NOV 0.11% 105,388 $1M $12.43 -$1M -77,831 -42.5%
94 MU 0.11% 10,558 $1M $123.25 $390K +68 +0.7%
95 MO 0.10% 22,045 $1M $58.63 -$271K -4,000 -15.4%
96 NXRT 0.10% 37,453 $1M $33.32 -$23K +5,291 +16.4%
97 VAW 0.09% 5,633 $1M $194.83 -$1M -7,170 -56.0%
98 ETR 0.09% 13,000 $1M $83.12 -$31K
99 TSM 0.08% 4,624 $1M $226.49 $280K
100 SCHD 0.08% 36,495 $967K $26.50 -$42K +400 +1.1%

New Positions

SymbolValue% Port
RELX $7M 0.55%
FTHY $3M 0.25%
NFLX $893K 0.07%
KR $753K 0.06%
ZTS $657K 0.05%
HAL $331K 0.03%
IBIT $294K 0.02%
MKL $210K 0.02%
GOOGL $206K 0.02%
CX $161K 0.01%
FATE $14K —%

Sold Out Positions

SymbolValue% Port
GM —%
SONY —%
BHP —%
RIG —%
HON —%
NOBL —%
VWO —%
CALF —%
VCLT —%
TDV —%
View SEC EDGAR Filings for Narwhal Capital Management →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms