Narwhal Capital Management Portfolio Holdings

Narwhal Capital Management

$1.08 Billion
Q1 2025

Narwhal Capital Management has filed its 13F form on April 22, 2025 for Q1 2025 where it was disclosed a total value porftolio of $1.08 Billion distributed in 161 stocks.

Among their holdings, we can observe that their the top five positions include companies like: Ishares Core S&P 500 ETF with a value of $98.5M, Apple Inc. with a value of $61.6M, Microsoft Corp with a value of $60.3M, Nvidia Corp with a value of $55.4M, and Alphabet Inc. with a value of $48.1M.

Examining the 13F form we can see an decrease of $12M in the current position value, from $1.09B to 1.08B.

Below you can find more details about Narwhal Capital Management portfolio as well as his latest detailed transactions.

Portfolio value $1.08 Billion

Technology: $233 Million

ETFs: $229 Million

Financial Services: $111 Million

Consumer Cyclical: $89.8 Million

Healthcare: $85.9 Million

Industrials: $83.5 Million

Communication Services: $80.7 Million

Consumer Defensive: $60.6 Million

Other: $109 Million

Stock Holdings Table

Stock	Market Cap.	Holding Value (Reported)	# of Shares.	Last Trade
IVV Ishares Core S&P 500 ETF ETFs	$0	$98.5 Million 9.11% of portfolio	175,381	Q1 2025 Added 4.72%
AAPL Apple Inc. Technology	$3.38T	$61.6 Million 5.69% of portfolio	277,333	Q1 2025 Added 1.19%
MSFT Microsoft Corp Technology	$3.81T	$60.3 Million 5.58% of portfolio	160,705	Q1 2025 Added 1.7%
NVDA Nvidia Corp Technology	$431B	$55.4 Million 5.12% of portfolio	511,339	Q1 2025 Reduced 2.87%
GOOG Alphabet Inc. Communication Services	$1.12T	$48.1 Million 4.45% of portfolio	307,911	Q1 2025 Added 3.96%
AMZN Amazon Com Inc Consumer Cyclical	$2.28T	$40.1 Million 3.71% of portfolio	210,773	Q1 2025 Added 1.65%
IAU Ishares Gold Trust ETFs	$53.4B	$40 Million 3.7% of portfolio	678,323	Q1 2025 Reduced 0.31%
JPM Jpmorgan Chase & CO Financial Services	$850B	$32 Million 2.96% of portfolio	130,585	Q1 2025 Added 3.83%
VMC Vulcan Materials CO Basic Materials	$35B	$28.8 Million 2.66% of portfolio	123,450	Q1 2025 Reduced 0.7%
META Meta Platforms, Inc. Communication Services	$1.62T	$25.8 Million 2.39% of portfolio	44,845	Q1 2025 Added 2.33%
HD Home Depot, Inc. Consumer Cyclical	$368B	$21.8 Million 2.01% of portfolio	59,364	Q1 2025 Added 6.86%
V Visa Inc. Financial Services	$572B	$18.4 Million 1.7% of portfolio	52,609	Q1 2025 Added 6.43%
GS Goldman Sachs Group Inc Financial Services	$241B	$18.3 Million 1.69% of portfolio	33,564	Q1 2025 Added 18.81%
LLY Eli Lilly & CO Healthcare	$724B	$17.8 Million 1.64% of portfolio	21,531	Q1 2025 Reduced 4.12%
IVE Ishares S&P 500 Value ETF ETFs	$0	$17.8 Million 1.64% of portfolio	93,284	Q1 2025 Added 3.9%
PG Procter & Gamble CO Consumer Defensive	$369B	$17.4 Million 1.61% of portfolio	101,999	Q1 2025 Added 15.37%
JNJ Johnson & Johnson Healthcare	$426B	$17.1 Million 1.58% of portfolio	102,924	Q1 2025 Added 2.91%
MRK Merck & Co., Inc. Healthcare	$207B	$15.5 Million 1.43% of portfolio	172,275	Q1 2025 Added 25.02%
LMT Lockheed Martin Corp Industrials	$123B	$14.1 Million 1.3% of portfolio	31,528	Q1 2025 Reduced 13.07%
PM Philip Morris International Inc. Consumer Defensive	$278B	$13.6 Million 1.26% of portfolio	85,609	Q1 2025 Added 22.18%
AXP American Express CO Financial Services	$236B	$13.6 Million 1.25% of portfolio	50,458	Q1 2025 Added 1.8%
UNH Unitedhealth Group Inc Healthcare	$269B	$12.8 Million 1.19% of portfolio	24,493	Q1 2025 Reduced 32.27%
GD General Dynamics Corp Industrials	$82.4B	$12.4 Million 1.15% of portfolio	45,628	Q1 2025 Added 17.28%
LHX L3 Harris Technologies, Inc. Industrials	$50.8B	$11.7 Million 1.08% of portfolio	55,773	Q1 2025 Added 21.58%
CSCO Cisco Systems, Inc. Technology	$280B	$11.2 Million 1.04% of portfolio	182,268	Q1 2025 Added 15.81%
IWF Ishares Russell 1000 Gr ETF ETFs	$0	$11.2 Million 1.04% of portfolio	31,054	Q1 2025 Reduced 0.05%
XOM Exxon Mobil Corp Energy	$465B	$10.9 Million 1.0% of portfolio	91,262	Q1 2025 Added 17.23%
NEE Nextera Energy Inc Utilities	$148B	$10.8 Million 0.99% of portfolio	151,836	Q1 2025 Reduced 9.78%
AVGO Broadcom Inc. Technology	$116B	$10.3 Million 0.95% of portfolio	61,333	Q1 2025 Added 56.24%
QCOM Qualcomm Inc Technology	$171B	$9.46 Million 0.87% of portfolio	61,582	Q1 2025 Reduced 33.32%
BX Blackstone Inc. Financial Services	$122B	$9.03 Million 0.83% of portfolio	64,614	Q1 2025 Added 34.25%
BTT Black Rock Municipal 2030 Target Term Trust Financial Services	$0	$8.99 Million 0.83% of portfolio	423,311	Q1 2025 Reduced 3.15%
ADI Analog Devices Inc Technology	$124B	$8.71 Million 0.81% of portfolio	43,208	Q1 2025 Reduced 2.35%
NOC Northrop Grumman Corp Industrials	$80.6B	$8.52 Million 0.79% of portfolio	16,641	Q1 2025 Reduced 12.12%
AVB Avalonbay Communities Inc Real Estate	$28.3B	$8.48 Million 0.78% of portfolio	39,515	Q1 2025 Added 607.27%
RTX Raytheon Technologies Corp Industrials	$223B	$8.37 Million 0.77% of portfolio	63,152	Q1 2025 Added 0.51%
CAT Caterpillar Inc Industrials	$221B	$8.11 Million 0.75% of portfolio	24,602	Q1 2025 Reduced 0.83%
ABT Abbott Laboratories Healthcare	$211B	$7.97 Million 0.74% of portfolio	60,055	Q1 2025 Added 16.67%
GGG Graco Inc Industrials	$14.8B	$7.52 Million 0.69% of portfolio	90,011	Q1 2025 Added 7.67%
COST Costco Wholesale Corp Consumer Defensive	$422B	$7.17 Million 0.66% of portfolio	7,577	Q1 2025 Added 0.72%
CSGP Costar Group, Inc. Real Estate	$34.5B	$6.86 Million 0.63% of portfolio	86,552	Q1 2025 Added 67.33%
MLI Mueller Industries Inc Industrials	$4.88B	$6.71 Million 0.62% of portfolio	88,173	Q1 2025 Added 92.32%
VLO Valero Energy Corp Energy	$55.8B	$6.71 Million 0.62% of portfolio	50,827	Q1 2025 Added 6.78%
PEP Pepsico Inc Consumer Defensive	$200B	$6.72 Million 0.62% of portfolio	44,794	Q1 2025 Reduced 22.25%
MUSA Murphy Usa Inc. Consumer Cyclical	$9.52B	$6.3 Million 0.58% of portfolio	13,413	Q1 2025 Added 98.59%
NVS Novartis Ag Healthcare	$246B	$5.79 Million 0.54% of portfolio	51,982	Q1 2025 Reduced 2.3%
CVX Chevron Corp Energy	$296B	$5.85 Million 0.54% of portfolio	34,997	Q1 2025 Added 1.84%
STZ Constellation Brands, Inc. Consumer Defensive	$27.7B	$5.7 Million 0.53% of portfolio	31,044	Q1 2025 Added 0.53%
QQQ Invesco Qqq Trust, Series 1 ETFs	$0	$5.73 Million 0.53% of portfolio	12,222	Q1 2025 Added 23.09%
CINF Cincinnati Financial Corp Financial Services	$23.7B	$5.58 Million 0.52% of portfolio	37,790	Q1 2025 Reduced 10.74%

Summary

Portfolio
No. of Stocks 161
Current Value $1.08 Billion
Prior Value $1.09 Billion
Filing
Period Q1 2025
Filing Date April 22, 2025
Form Type 13F-HR
Activity in Q1 2025
New Purchases 5 stocks
Additional Purchases 54 stocks
Sold out of 0 stocks
Reduced holdings in 50 stocks

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Narwhal Capital Management Portfolio Holdings