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Asset Manager ← All Institutions

Narwhal Capital Management

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

Q4 2025 · Filed 2026-01-30
Market Value
$1.4B
+1.9%
Holdings
167
-1
New Purchases
6
Added To
52
Closed
9
Reduced
58
Top 10 Concentration
51.0%
Turnover
9.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 6.54% 5.16% +1.38% $89M
IVV 10.56% 10.18% +0.38% $144M
IAU 4.00% 3.65% +0.35% $55M
LLY 1.65% 1.32% +0.33% $22M
AAPL 5.50% 5.18% +0.32% $75M
CSCO 1.15% 0.84% +0.31% $16M
HCA 0.45% 0.22% +0.23% $6M
ICE 0.20% 0.00% +0.20% $3M
ADI 1.31% 1.10% +0.20% $18M
AMZN 3.66% 3.47% +0.19% $50M
XOM 1.06% 0.87% +0.19% $15M
JNJ 1.45% 1.33% +0.12% $20M
MU 0.23% 0.13% +0.11% $3M
SBUX 0.51% 0.40% +0.11% $7M
CAT 0.91% 0.81% +0.10% $12M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 2.35% 2.80% -0.45% $32M
ORCL 0.51% 0.89% -0.38% $7M
MSFT 5.72% 6.03% -0.32% $78M
VMC 2.78% 3.06% -0.29% $38M
NVDA 6.80% 7.08% -0.27% $93M
HD 1.61% 1.84% -0.23% $22M
AVGO 0.93% 1.13% -0.20% $13M
MUSA 0.05% 0.25% -0.20% $650K
CPRT 0.03% 0.22% -0.19% $384K
AVB 0.69% 0.88% -0.19% $9M
LMT 1.18% 1.36% -0.18% $16M
VLO 0.47% 0.65% -0.18% $6M
ZTS 0.00% 0.17% -0.17% $0
QCOM 0.44% 0.60% -0.16% $6M
CSGP 0.06% 0.21% -0.15% $765K

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 45 $905M 66.2%
Large Cap 98 $430M 31.5%
Mid Cap 12 $12M 0.9%
Small Cap 8 $18M 1.3%
Micro Cap 4 $1M 0.1%

Portfolio Analytics

Avg Market Cap
$337.1B
Median Market Cap
$77.8B
Avg P/E
31.0
Median P/E
24.3
Avg Dividend Yield
0.02%
Avg Beta
0.89
# Stocks
113
# ETFs / Funds
54

Top Holdings (167 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 10.56% 210,559 $144M $684.94 $8M +6,640 +3.3%
2 NVDA 6.80% 498,129 $93M $186.50 -$2M -10,109 -2.0%
3 GOOG 6.54% 284,507 $89M $313.80 $20M +420 +0.1%
4 MSFT 5.72% 161,397 $78M $483.62 -$3M +5,328 +3.4%
5 AAPL 5.50% 276,129 $75M $271.86 $6M +3,563 +1.3%
6 IAU 4.00% 672,623 $55M $81.17 $6M +582 +0.1%
7 AMZN 3.66% 216,606 $50M $230.82 $4M +4,854 +2.3%
8 JPM 3.07% 130,003 $42M $322.22 $1M +1,819 +1.4%
9 VMC 2.78% 132,893 $38M $285.22 -$3M -501 -0.4%
10 META 2.35% 48,594 $32M $660.09 -$5M -2,547 -5.0%
11 BLK 1.66% 21,179 $23M $1,070.36 -$2M +354 +1.7%
12 LLY 1.65% 20,934 $22M $1,074.68 $5M -2,288 -9.8%
13 GS 1.61% 25,012 $22M $879.01 $803K -1,587 -6.0%
14 HD 1.61% 63,891 $22M $344.10 -$3M +3,005 +4.9%
15 V 1.53% 59,688 $21M $350.71 $486K -207 -0.3%
16 AXP 1.52% 56,189 $21M $369.95 $1M -3,068 -5.2%
17 JNJ 1.45% 95,781 $20M $206.95 $2M -590 -0.6%
18 IVE 1.44% 92,784 $20M $212.07 $516K
19 ADI 1.31% 65,774 $18M $271.20 $3M +5,519 +9.2%
20 LMT 1.18% 33,237 $16M $483.67 -$2M -3,228 -8.8%
21 CSCO 1.15% 204,140 $16M $77.03 $4M +39,120 +23.7%
22 LHX 1.10% 51,285 $15M $293.57 -$254K +1,157 +2.3%
23 IWF 1.09% 31,327 $15M $473.30 $153K
24 XOM 1.06% 120,665 $15M $120.34 $3M +17,022 +16.4%
25 NEE 1.05% 178,346 $14M $80.28 $1M +2,233 +1.3%
26 RTX 0.97% 72,354 $13M $183.40 -$231K -8,331 -10.3%
27 AVGO 0.93% 36,670 $13M $346.10 -$2M -9,293 -20.2%
28 GD 0.93% 37,523 $13M $336.66 -$73K +263 +0.7%
29 CAT 0.91% 21,707 $12M $572.87 $2M -1,155 -5.0%
30 PG 0.86% 82,168 $12M $143.31 -$918K -442 -0.5%
31 MRK 0.86% 111,743 $12M $105.26 $322K -24,562 -18.0%
32 NOC 0.82% 19,708 $11M $570.21 $1M +3,280 +20.0%
33 BX 0.81% 71,754 $11M $154.14 -$635K +3,304 +4.8%
34 PM 0.80% 68,209 $11M $160.40 -$1M -8,289 -10.8%
35 ABT 0.71% 76,982 $10M $125.29 $56K +5,386 +7.5%
36 AVB 0.69% 51,724 $9M $181.31 -$2M -9,109 -15.0%
37 BTT 0.65% 387,702 $9M $22.82 $102K -1,666 -0.4%
38 PEP 0.60% 57,403 $8M $143.52 -$1M -10,307 -15.2%
39 CINF 0.59% 49,523 $8M $163.32 $979K +4,557 +10.1%
40 QQQ 0.56% 12,492 $8M $614.31 $210K +59 +0.5%
41 NVS 0.54% 53,812 $7M $137.87 $760K +1,887 +3.6%
42 MLI 0.53% 62,843 $7M $114.80 $130K -7,226 -10.3%
43 ORCL 0.51% 36,007 $7M $194.91 -$5M -6,537 -15.4%
44 DPZ 0.51% 16,764 $7M $416.82 $1M +3,831 +29.6%
45 SBUX 0.51% 82,142 $7M $84.21 $2M +18,557 +29.2%
46 IVW 0.51% 56,000 $7M $123.26 $142K
47 VLO 0.47% 39,310 $6M $162.79 -$2M -11,587 -22.8%
48 CRH.L 0.46% 50,393 $6M $124.80 $177K -583 -1.1%
49 HCA 0.45% 13,243 $6M $466.86 $3M +6,205 +88.2%
50 XLK 0.44% 42,000 $6M $143.97 $128K +21,000 +100.0%
51 RELX 0.44% 149,017 $6M $40.42 -$1M -4,502 -2.9%
52 QCOM 0.44% 35,025 $6M $171.05 -$2M -13,601 -28.0%
53 CEG 0.41% 15,815 $6M $353.27 $415K +97 +0.6%
54 DIA 0.39% 11,080 $5M $480.57 $186K
55 CVX 0.38% 34,218 $5M $152.41 -$99K
56 BWXT 0.37% 29,116 $5M $172.84 -$903K -3,076 -9.6%
57 COST 0.37% 5,808 $5M $862.34 $67K +470 +8.8%
58 SGOL 0.35% 116,026 $5M $41.08 $496K +25 +0.0%
59 SLB 0.35% 123,007 $5M $38.38 $13K -13,974 -10.2%
60 ADBE 0.33% 12,840 $4M $349.99 $1M +3,906 +43.7%
61 GGG 0.32% 54,088 $4M $81.97 -$587K -5,007 -8.5%
62 KMI 0.31% 154,280 $4M $27.49 -$38K +3,143 +2.1%
63 GLD 0.30% 10,263 $4M $396.31 $356K -177 -1.7%
64 UFPI 0.29% 44,208 $4M $91.05 -$583K -5,079 -10.3%
65 BRK-A 0.28% 5 $4M $754,800.00 $3K
66 ENTG 0.27% 44,159 $4M $84.25 -$193K +1,832 +4.3%
67 GRMN 0.27% 18,325 $4M $202.85 -$944K -607 -3.2%
68 MTBA 0.27% 72,068 $4M $50.41 -$490K -9,811 -12.0%
69 MU 0.23% 11,188 $3M $285.41 $1M +913 +8.9%
70 TSLA 0.22% 6,586 $3M $449.72 -$1M -2,930 -30.8%
71 DVY 0.22% 20,970 $3M $141.14 -$1K +134 +0.6%
72 SDY 0.21% 20,989 $3M $139.16 -$19K
73 WMT 0.20% 24,849 $3M $111.41 $430K +2,160 +9.5%
74 ICE 0.20% 17,086 $3M $161.96 +17,086 NEW
75 NOW 0.19% 16,977 $3M $153.19 $791K +15,011 +763.5%
76 IJR 0.18% 20,450 $2M $120.18 $17K -91 -0.4%
77 NTRA 0.16% 9,745 $2M $229.09 $345K -1,982 -16.9%
78 FTHY 0.16% 154,983 $2M $14.07 -$1M -67,631 -30.4%
79 DGRW 0.14% 21,779 $2M $89.43 $10K
80 KR 0.14% 30,081 $2M $62.48 $1M +18,649 +163.1%
81 UNH 0.13% 5,542 $2M $330.12 -$706K -1,801 -24.5%
82 TMUS 0.13% 8,766 $2M $203.04 $760K +4,507 +105.8%
83 SPMO 0.12% 13,676 $2M $119.32 -$24K
84 EXC 0.12% 37,130 $2M $43.59 -$55K -50 -0.1%
85 TSM 0.10% 4,624 $1M $303.89 $114K
86 SPY 0.10% 2,047 $1M $681.92 $83K +76 +3.9%
87 T 0.10% 53,723 $1M $24.84 -$183K +3 +0.0%
88 ETR 0.10% 14,095 $1M $92.43 $231K +2,595 +22.6%
89 OKE 0.09% 17,194 $1M $73.50 $9K
90 DAL 0.09% 16,850 $1M $69.40 $213K
91 NXRT 0.08% 37,217 $1M $30.10 -$287K -6,474 -14.8%
92 IWR 0.07% 10,231 $985K $96.27 -$3K
93 SCHD 0.07% 35,701 $979K $27.43 -$10K -525 -1.4%
94 XLU 0.07% 22,310 $952K $42.69 -$20K +11,155 +100.0%
95 IJJ 0.07% 6,923 $911K $131.59 $13K
96 XLV 0.07% 5,880 $910K $154.80 $92K
97 VUG 0.06% 1,800 $878K $487.86 $15K
98 MGOV 0.06% 42,453 $869K $20.48 $29K +1,417 +3.5%
99 NFLX 0.06% 8,933 $838K $93.76 $255K +8,447 +1738.1%
100 VIS 0.06% 2,799 $835K $298.38 $6K

Options Breakdown

0 Calls $0 Call Value 1 Puts $14K Put Value

Top Puts

SymbolSharesValueStatus
NVDA 1,000 $14K

New Positions

SymbolValue% Port
ICE $3M 0.20%
INTC $678K 0.05%
MCD $645K 0.05%
FERG $303K 0.02%
ADSK $279K 0.02%
DHI $230K 0.02%

Sold Out Positions

SymbolValue% Port
RH —%
ZTS —%
UL —%
PSN —%
TAP —%
DEO —%
TGT —%
IBIT —%
FMY —%
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