Latest Narwhal Capital Management Stock Portfolio

Narwhal Capital Management Performance:

2025 Q4: 1.5%YTD: 15.81%2024: 19.96%

Performance for 2025 Q4 is 1.5%, and YTD is 15.81%, and 2024 is 19.96%.

About Narwhal Capital Management and 13F Hedge Fund Stock Holdings

On 2026-01-30, the fund reported it's updated stock portfolio. In the 13F Holdings report, Narwhal Capital Management reported an equity portfolio of $1.4 Billions as of 31 Dec, 2025.

The top stock holdings of Narwhal Capital Management are IJR, NVDA, GOOG. The fund has invested 10.5% of it's portfolio in ISHARES TR and 6.8% of portfolio in NVIDIA CORPORATION.

The fund managers got completely rid off ZOETIS INC (ZTS), UNILEVER PLC and RH (RH) stocks. They significantly reduced their stock positions in NOV INC (NOV), COPART INC (CPRT) and DEERE & CO (DE). Narwhal Capital Management opened new stock positions in INTERCONTINENTAL EXCHANGE IN (ICE), UNILEVER PLC and INTEL CORP (INTC). The fund showed a lot of confidence in some stocks as they added substantially to NETFLIX INC (NFLX), SERVICENOW INC (NOW) and KROGER CO (KR).

Narwhal Capital Management Annual Return Estimates Vs S&P 500

Our best estimate is that Narwhal Capital Management made a return of 1.5% in the last quarter. In trailing 12 months, it's portfolio return was 15.81%.

Performance
S&P 500

New Buys

Ticker	$ Bought
intercontinental exchange in	2,767,250
unilever plc	1,285,700
intel corp	677,669
mcdonalds corp	645,491
ferguson enterprises inc	303,222
autodesk inc	278,545
perimeter solutions inc	275,685
d r horton inc	230,448

New stocks bought by Narwhal Capital Management

Additions

Ticker	% Inc.
netflix inc	1,738
servicenow inc	763
kroger co	163
t-mobile us inc	105
select sector spdr tr	100
select sector spdr tr	100
select sector spdr tr	99.98
hca healthcare inc	88.16

Additions to existing portfolio by Narwhal Capital Management

Reductions

Ticker	% Reduced
nov inc	-87.22
copart inc	-84.94
deere & co	-82.71
murphy usa inc	-81.28
constellation brands inc	-71.19
costar group inc	-65.62
united parcel service inc	-54.88
tesla inc	-30.79

Narwhal Capital Management reduced stake in above stock

Sold off

Ticker	$ Sold
unilever plc	-1,492,730
zoetis inc	-2,320,490
first tr mtg income fd	-161,298
molson coors beverage co	-293,220
rh	-1,077,360
ishares bitcoin trust etf	-336,115
parsons corp del	-340,801
target corp	-354,968

Narwhal Capital Management got rid off the above stocks

Sector Distribution

Narwhal Capital Management has about 26% of it's holdings in Others sector.

Sector	%
Others	26
Technology	23.7
Financial Services	9.3
Communication Services	9.2
Industrials	8
Consumer Cyclical	6.6
Healthcare	5.5
Basic Materials	3.5
Consumer Defensive	3.1
Energy	2.8
Utilities	1.7

Market Cap. Distribution

Narwhal Capital Management has about 72.1% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	46.2
UNALLOCATED	26.4
LARGE-CAP	25.9
MID-CAP	1.4

Stocks belong to which Index?

About 71.7% of the stocks held by Narwhal Capital Management either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	70.6
Others	28.3
RUSSELL 2000	1.1

Top 5 Winners (%)		%
MU	micron technology inc	65.8 %
LLY	eli lilly & co	38.8 %
NTRA	natera inc	38.7 %
LUV	southwest airls co	29.5 %
GOOG	alphabet inc	28.8 %

Top 5 Winners ($)		$
GOOG	alphabet inc	20.0 M
LLY	eli lilly & co	6.9 M
IAU	ishares gold tr	5.6 M
AAPL	apple inc	4.7 M
IJR	ishares tr	3.2 M

Top 5 Losers (%)		%
NFLX	netflix inc	-86.1 %
NOW	servicenow inc	-73.6 %
XLB	select sector spdr tr	-43.9 %
XLB	select sector spdr tr	-42.8 %
XLB	select sector spdr tr	-41.8 %

Top 5 Losers ($)		$
NOW	servicenow inc	-7.3 M
MSFT	microsoft corp	-5.4 M
NFLX	netflix inc	-5.2 M
XLB	select sector spdr tr	-4.3 M
HD	home depot inc	-3.8 M

Narwhal Capital Management Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Narwhal Capital Management

Narwhal Capital Management has 162 stocks in it's portfolio. About 50.6% of the portfolio is in top 10 stocks. NOW proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for Narwhal Capital Management last quarter.

Last Reported on: 30 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	5.46	276,129	75,068,500	added	1.31

AAXJ	ishares tr	0.04	2,260	485,199	unchanged	0.00

ABT	abbott labs	0.70	76,982	9,645,080	added	7.52

ADBE	adobe inc	0.33	12,840	4,493,870	added	43.72

ADI	analog devices inc	1.30	65,774	17,837,900	added	9.16

ADSK	autodesk inc	0.02	941	278,545	new

AGGH	simplify exchange traded fun	0.26	72,068	3,632,970	reduced	-11.98

AMGN	amgen inc	0.03	1,114	364,623	reduced	-2.02

AMZN	amazon com inc	3.63	216,606	49,997,000	added	2.29

AOA	ishares tr	0.02	4,200	273,042	unchanged	0.00

AVB	avalonbay cmntys inc	0.68	51,724	9,378,080	reduced	-14.97

AVGO	broadcom inc	0.92	36,670	12,691,500	reduced	-20.22

AXP	american express co	1.51	56,189	20,787,200	reduced	-5.18

BA	boeing co	0.04	2,824	613,147	added	0.21

BATRA	atlanta braves hldgs inc	0.05	17,404	686,588	unchanged	0.00

BIL	spdr series trust	0.21	20,989	2,920,830	unchanged	0.00

BIL	spdr series trust	0.02	9,496	286,771	added	1.83

BNDW	vanguard scottsdale fds	0.04	1,568	484,575	unchanged	0.00

BUZZ	vaneck etf trust	0.06	15,517	819,453	added	15.96

BWXT	bwx technologies inc	0.37	29,116	5,032,410	reduced	-9.56