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Asset Manager ← All Institutions

Narwhal Capital Management

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

Q3 2025 · Filed 2025-10-24
Market Value
$1.3B
+8.7%
Holdings
168
-2
New Purchases
8
Added To
42
Closed
7
Reduced
77
Top 10 Concentration
49.6%
Turnover
8.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 5.16% 4.20% +0.97% $69M
NVDA 7.08% 6.41% +0.67% $95M
AAPL 5.18% 4.58% +0.60% $69M
VMC 3.06% 2.60% +0.46% $41M
ORCL 0.89% 0.48% +0.42% $12M
JNJ 1.33% 1.00% +0.33% $18M
IVV 10.18% 9.89% +0.29% $136M
RTX 1.01% 0.73% +0.28% $14M
LHX 1.14% 0.88% +0.26% $15M
PEP 0.71% 0.45% +0.26% $10M
IAU 3.65% 3.40% +0.25% $49M
CPRT 0.22% 0.00% +0.22% $3M
CINF 0.53% 0.33% +0.20% $7M
LMT 1.36% 1.20% +0.16% $18M
SBUX 0.40% 0.24% +0.16% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MLR 0.00% 0.55% -0.55% $0
LULU 0.00% 0.44% -0.44% $0
PG 0.95% 1.29% -0.35% $13M
AMZN 3.47% 3.80% -0.33% $46M
CSGP 0.21% 0.52% -0.32% $3M
MSFT 6.03% 6.35% -0.31% $81M
LLY 1.32% 1.60% -0.28% $18M
CHX 0.00% 0.26% -0.26% $0
RH 0.08% 0.29% -0.21% $1M
PM 0.93% 1.13% -0.21% $12M
COST 0.37% 0.57% -0.20% $5M
GGG 0.37% 0.57% -0.20% $5M
GS 1.58% 1.78% -0.20% $21M
META 2.80% 2.99% -0.19% $38M
GRMN 0.35% 0.53% -0.18% $5M

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 $871M 65.0%
Large Cap 98 $434M 32.4%
Mid Cap 13 $15M 1.1%
Small Cap 9 $19M 1.5%
Micro Cap 5 $1M 0.1%

Portfolio Analytics

Avg Market Cap
$329.9B
Median Market Cap
$73.8B
Avg P/E
30.9
Median P/E
24.6
Avg Dividend Yield
0.03%
Avg Beta
0.88
# Stocks
113
# ETFs / Funds
55

Top Holdings (168 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 10.18% 203,919 $136M $669.30 $15M +7,490 +3.8%
2 NVDA 7.08% 508,238 $95M $186.58 $16M +8,421 +1.7%
3 MSFT 6.03% 156,069 $81M $517.95 $3M -1,179 -0.8%
4 AAPL 5.18% 272,566 $69M $254.63 $13M -2,402 -0.9%
5 GOOG 5.16% 284,087 $69M $243.55 $17M -7,420 -2.5%
6 IAU 3.65% 672,041 $49M $72.77 $7M +286 +0.0%
7 AMZN 3.47% 211,752 $46M $219.57 -$286K -1,479 -0.7%
8 VMC 3.06% 133,394 $41M $307.62 $9M +10,559 +8.6%
9 JPM 3.02% 128,184 $40M $315.43 $4M +1,690 +1.3%
10 META 2.80% 51,141 $38M $734.38 $661K +1,152 +2.3%
11 HD 1.84% 60,886 $25M $405.19 $118K -6,081 -9.1%
12 BLK 1.81% 20,825 $24M $1,165.90 -$64K -2,376 -10.2%
13 GS 1.58% 26,599 $21M $796.36 -$738K -4,372 -14.1%
14 V 1.53% 59,895 $20M $341.38 $3M +9,649 +19.2%
15 AXP 1.47% 59,257 $20M $332.16 $756K -77 -0.1%
16 IVE 1.43% 92,784 $19M $206.51 $931K -500 -0.5%
17 LMT 1.36% 36,465 $18M $499.21 $3M +4,564 +14.3%
18 JNJ 1.33% 96,371 $18M $185.42 $6M +15,755 +19.5%
19 LLY 1.32% 23,222 $18M $763.00 -$2M -2,154 -8.5%
20 LHX 1.14% 50,128 $15M $305.41 $4M +6,759 +15.6%
21 AVGO 1.13% 45,963 $15M $329.91 -$823K -12,035 -20.8%
22 ADI 1.10% 60,255 $15M $245.70 -$445K -3,815 -6.0%
23 IWF 1.09% 31,327 $15M $468.41 $1M -23 -0.1%
24 RTX 1.01% 80,685 $14M $167.33 $5M +19,110 +31.0%
25 NEE 0.99% 176,113 $13M $75.49 $807K -3,780 -2.1%
26 GD 0.95% 37,260 $13M $341.00 $633K -4,132 -10.0%
27 PG 0.95% 82,610 $13M $153.65 -$3M -17,375 -17.4%
28 PM 0.93% 76,498 $12M $162.20 -$2M -284 -0.4%
29 ORCL 0.89% 42,544 $12M $281.24 $6M +15,615 +58.0%
30 AVB 0.88% 60,833 $12M $193.17 $780K +6,921 +12.8%
31 BX 0.87% 68,450 $12M $170.85 $1M -1,533 -2.2%
32 XOM 0.87% 103,643 $12M $112.75 $2M +11,884 +12.9%
33 MRK 0.85% 136,305 $11M $83.93 -$134K -9,906 -6.8%
34 CSCO 0.84% 165,020 $11M $68.42 $2M +27,101 +19.6%
35 CAT 0.81% 22,862 $11M $477.15 $737K -3,340 -12.8%
36 NOC 0.75% 16,428 $10M $609.32 $2M -119 -0.7%
37 ABT 0.72% 71,596 $10M $133.94 $672K +6,027 +9.2%
38 PEP 0.71% 67,710 $10M $140.44 $4M +25,549 +60.6%
39 BTT 0.65% 389,368 $9M $22.46 -$522K -33,995 -8.0%
40 VLO 0.65% 50,897 $9M $170.26 $368K -10,833 -17.6%
41 QCOM 0.60% 48,626 $8M $166.36 -$421K -4,809 -9.0%
42 QQQ 0.56% 12,433 $7M $600.37 $599K -13 -0.1%
43 RELX 0.55% 153,519 $7M $47.76 $544K +28,599 +22.9%
44 CINF 0.53% 44,966 $7M $158.10 $3M +17,276 +62.4%
45 MLI 0.53% 70,069 $7M $101.11 -$295K -22,793 -24.6%
46 IVW 0.50% 56,000 $7M $120.72 $595K
47 NVS 0.50% 51,925 $7M $128.24 $516K +1,165 +2.3%
48 CRH.L 0.46% 50,976 $6M $119.90 $1M -1,969 -3.7%
49 BWXT 0.44% 32,192 $6M $184.37 -$250K -10,744 -25.0%
50 XLK 0.44% 21,000 $6M $281.86 $601K
51 DPZ 0.42% 12,933 $6M $431.71 $2M +5,246 +68.2%
52 SBUX 0.40% 63,585 $5M $84.60 $2M +30,847 +94.2%
53 CVX 0.40% 34,218 $5M $155.29 $392K -156 -0.5%
54 CEG 0.39% 15,718 $5M $329.07 $99K
55 DIA 0.38% 11,080 $5M $463.74 $256K
56 GGG 0.37% 59,095 $5M $84.96 -$2M -23,286 -28.3%
57 COST 0.37% 5,338 $5M $925.63 -$2M -1,793 -25.1%
58 SLB 0.35% 136,981 $5M $34.37 $735K +19,424 +16.5%
59 GRMN 0.35% 18,932 $5M $246.22 -$2M -12,365 -39.5%
60 UFPI 0.34% 49,287 $5M $93.49 -$789K -5,032 -9.3%
61 KMI 0.32% 151,137 $4M $28.31 -$165K
62 SGOL 0.32% 116,001 $4M $36.81 $549K -1,975 -1.7%
63 TSLA 0.32% 9,516 $4M $444.72 $2M +2,350 +32.8%
64 MTBA 0.31% 81,879 $4M $50.35 $554K +10,629 +14.9%
65 ENTG 0.29% 42,327 $4M $92.46 -$659K -14,370 -25.4%
66 BRK-A 0.28% 5 $4M $754,200.00 $127K
67 GLD 0.28% 10,440 $4M $355.47 $529K
68 MUSA 0.25% 8,602 $3M $388.26 -$14K +358 +4.3%
69 FTHY 0.24% 222,614 $3M $14.49 $120K +13,463 +6.4%
70 ADBE 0.24% 8,934 $3M $352.75 $1M +3,925 +78.4%
71 HCA 0.22% 7,038 $3M $426.20 $190K -297 -4.0%
72 DVY 0.22% 20,836 $3M $142.10 $184K -75 -0.4%
73 SDY 0.22% 20,989 $3M $140.05 $91K
74 CPRT 0.22% 65,100 $3M $44.97 +65,100 NEW
75 CSGP 0.21% 33,113 $3M $84.37 -$4M -47,308 -58.8%
76 STZ 0.20% 20,206 $3M $134.67 -$2M -6,626 -24.7%
77 UNH 0.19% 7,343 $3M $345.30 -$2M -6,770 -48.0%
78 IJR 0.18% 20,541 $2M $118.83 $194K -22 -0.1%
79 WMT 0.17% 22,689 $2M $103.06 -$811K -9,517 -29.6%
80 ZTS 0.17% 15,859 $2M $146.32 $2M +11,644 +276.2%
81 DE 0.15% 4,385 $2M $457.26 $2M +3,548 +423.9%
82 DGRW 0.14% 21,779 $2M $88.96 $114K
83 NTRA 0.14% 11,727 $2M $160.97 -$363K -1,598 -12.0%
84 NOW 0.14% 1,966 $2M $920.28 $376K +572 +41.0%
85 MU 0.13% 10,275 $2M $167.32 $418K -283 -2.7%
86 EXC 0.12% 37,180 $2M $45.01 -$158K -5,000 -11.8%
87 SPMO 0.12% 13,676 $2M $121.06 $1M +10,541 +336.2%
88 T 0.11% 53,720 $2M $28.24 -$34K +125 +0.2%
89 UL 0.11% 25,181 $1M $59.28 -$109K -1,000 -3.8%
90 NXRT 0.11% 43,691 $1M $32.22 $160K +6,238 +16.7%
91 SPY 0.10% 1,971 $1M $666.18 -$39K -218 -10.0%
92 TSM 0.10% 4,624 $1M $279.29 $244K
93 OKE 0.09% 17,194 $1M $72.97 -$182K -408 -2.3%
94 RH 0.08% 5,303 $1M $203.16 -$3M -13,676 -72.1%
95 ETR 0.08% 11,500 $1M $93.19 -$9K -1,500 -11.5%
96 NOV 0.08% 79,915 $1M $13.25 -$251K -25,473 -24.2%
97 TMUS 0.08% 4,259 $1M $239.38 $213K +875 +25.9%
98 SCHD 0.07% 36,226 $989K $27.30 $22K -269 -0.7%
99 IWR 0.07% 10,231 $988K $96.55 $47K
100 XLU 0.07% 11,155 $973K $87.21 $7K -667 -5.6%

Options Breakdown

0 Calls $0 Call Value 1 Puts $15K Put Value

Top Puts

SymbolSharesValueStatus
NVDA 1,000 $15K NEW

New Positions

SymbolValue% Port
CPRT $3M 0.22%
CLOI $711K 0.05%
BMN $476K 0.04%
PSN $341K 0.03%
SGOV $301K 0.02%
VRT $224K 0.02%
VO $208K 0.02%
LNG $204K 0.02%

Sold Out Positions

SymbolValue% Port
CX —%
MLR —%
LULU —%
CMCSA —%
VGLT —%
CHX —%
BPT —%
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