Narwhal Capital Management

13F filer, CIK 1461287, MARIETTA, GA

Narwhal Capital Management reported $1,131,366,119 across 161 holdings for the quarter ended 2024-12-31, in a 13F-HR filed 2025-01-22. Its ten largest share positions make up 46.66% of the portfolio.

Filed 2025-01-22 (acceptance time not in the bulk data set), ingested 2026-10-07 18:25:55 UTC13F-HR 0001085146-25-000391

Period: 2024-12-31
Reported value: $1.13B
Holdings: 161
Top 10 weight: 46.66%
New: 10
Sold out: 9

Largest buys vs the previous quarter

Security	Shares change	Approx. value
BLKnew	+21,714	$22.3M
AVGOnew	+39,255	$9.1M
IVVadded	+12,007	$7.07M
LMTadded	+7,642	$3.71M
CSGPnew	+51,725	$3.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
METAreduced	-6,255	-$3.66M
GSreduced	-6,370	-$3.65M
UNHreduced	-6,687	-$3.38M
CINFreduced	-20,267	-$2.91M
NVDAreduced	-19,201	-$2.58M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2024

Share positions as resolved from 13F-HR 0001085146-25-000391, largest first. % of portfolio is the value over $1,131,366,119, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
IVVISHARES TR	167,479	$98.6M	8.71%	+12,007	Timeline
NVDANVIDIA CORPORATION	526,475	$70.7M	6.25%	-19,201	Timeline
AAPLAPPLE INC	274,069	$68.6M	6.07%	-2,722	Timeline
MSFTMICROSOFT CORP	158,025	$66.6M	5.89%	-587	Timeline
GOOGALPHABET INC	296,188	$56.4M	4.99%	-5,583	Timeline
AMZNAMAZON COM INC	207,358	$45.5M	4.02%	-2,845	Timeline
IAUISHARES GOLD TR	680,464	$33.7M	2.98%	-690	Timeline
VMCVULCAN MATLS CO	124,323	$32M	2.83%	-1,030	Timeline
JPMJPMORGAN CHASE & CO	125,770	$30.1M	2.66%	-7,848	Timeline
METAMETA PLATFORMS INC	43,822	$25.7M	2.27%	-6,255	Timeline
BLKBLACKROCK INC	21,714	$22.3M	1.97%	new	Timeline
HDHOME DEPOT INC	55,551	$21.6M	1.91%	-5,946	Timeline
UNHUNITEDHEALTH GROUP INC	36,161	$18.3M	1.62%	-6,687	Timeline
LMTLOCKHEED MARTIN CORP	36,270	$17.6M	1.56%	+7,642	Timeline
LLYELI LILLY & CO	22,456	$17.3M	1.53%	+1,053	Timeline
IVEISHARES TR	89,784	$17.1M	1.51%	-617	Timeline
GSGOLDMAN SACHS GROUP INC	28,249	$16.2M	1.43%	-6,370	Timeline
VVISA INC	49,432	$15.6M	1.38%	+3,209	Timeline
PGPROCTER & GAMBLE CO	88,411	$14.8M	1.31%	-2,828	Timeline
AXPAMERICAN EXPRESS CO	49,567	$14.7M	1.3%	-1,464	Timeline
JNJJOHNSON & JOHNSON	100,016	$14.5M	1.28%	+2,150	Timeline
QCOMQUALCOMM INC	92,359	$14.2M	1.25%	-1,208	Timeline
MRKMERCK & CO INC	137,797	$13.7M	1.21%	-3,946	Timeline
IWFISHARES TR	31,070	$12.5M	1.1%	0	Timeline
NEENEXTERA ENERGY INC	168,289	$12.1M	1.07%	+9,936	Timeline
GDGENERAL DYNAMICS CORP	38,906	$10.3M	0.91%	+1,382	Timeline
LHXL3HARRIS TECHNOLOGIES INC	45,873	$9.65M	0.85%	-2,912	Timeline
ADIANALOG DEVICES INC	44,249	$9.4M	0.83%	-817	Timeline
CSCOCISCO SYS INC	157,386	$9.32M	0.82%	+12,424	Timeline
AVGOBROADCOM INC	39,255	$9.1M	0.8%	new	Timeline
CATCATERPILLAR INC	24,809	$9M	0.8%	+2,235	Timeline
BTTBLACKROCK MUN TARGET TERM TR	437,070	$9M	0.8%	-31,984	Timeline
NOCNORTHROP GRUMMAN CORP	18,937	$8.89M	0.79%	+119	Timeline
PEPPEPSICO INC	57,612	$8.76M	0.77%	+3,197	Timeline
PMPHILIP MORRIS INTL INC	70,070	$8.43M	0.75%	-7,314	Timeline
XOMEXXON MOBIL CORP	77,851	$8.37M	0.74%	-18,951	Timeline
BXBLACKSTONE INC	48,128	$8.3M	0.73%	-1,448	Timeline
RTXRTX CORPORATION	62,830	$7.27M	0.64%	-4,130	Timeline
GGGGRACO INC	83,601	$7.05M	0.62%	-8,712	Timeline
COSTCOSTCO WHOLESALE CORPORATION	7,523	$6.89M	0.61%	-1,231	Timeline
STZCONSTELLATION BRANDS INC	30,880	$6.82M	0.6%	-2,729	Timeline
MLRMILLER INDS INC TENN	101,226	$6.62M	0.58%	-12,342	Timeline
CPCANADIAN PACIFIC KANSAS CITY	87,867	$6.36M	0.56%	-6,490	Timeline
CINFCINCINNATI FINL CORP	42,338	$6.08M	0.54%	-20,267	Timeline
HCAHCA HEALTHCARE INC	19,506	$5.85M	0.52%	-3,714	Timeline
VLOVALERO ENERGY CORP	47,599	$5.84M	0.52%	-1,705	Timeline
ABTABBOTT LABORATORIES	51,473	$5.82M	0.51%	+29,135	Timeline
IVWISHARES TR	56,000	$5.69M	0.5%	0	Timeline
CRHCRH PLC	60,189	$5.57M	0.49%	-4,135	Timeline
ENTGENTEGRIS INC	52,463	$5.2M	0.46%	-9,321	Timeline
NVSNOVARTIS AG	53,208	$5.18M	0.46%	-667	Timeline
QQQINVESCO QQQ TR	9,929	$5.08M	0.45%	0	Timeline
CVXCHEVRON CORPORATION	34,364	$4.98M	0.44%	-633	Timeline
TGTTARGET CORP	36,679	$4.96M	0.44%	+343	Timeline
XLKSELECT SECTOR SPDR TR	21,000	$4.88M	0.43%	0	Timeline
DIASTATE STR SPDR DOW JONES IND	11,082	$4.72M	0.42%	+2	Timeline
DPZDOMINOS PIZZA INC	10,728	$4.5M	0.4%	+4,915	Timeline
DISDISNEY WALT CO	38,992	$4.34M	0.38%	+3,112	Timeline
KMIKINDER MORGAN INC DEL	151,137	$4.14M	0.37%	0	Timeline
GRMNGARMIN LTD	18,447	$3.8M	0.34%	-3,726	Timeline
CHAMPIONX CORPORATIONCHAMPIONX CORPORATION	137,231	$3.73M	0.33%	-59,907
CSGPCOSTAR GROUP INC	51,725	$3.7M	0.33%	new	Timeline
MLIMUELLER INDS INC	45,846	$3.64M	0.32%	+16,010	Timeline
GLDSPDR GOLD TR	14,595	$3.53M	0.31%	-84	Timeline
CEGCONSTELLATION ENERGY CORP	15,658	$3.5M	0.31%	0	Timeline
DVYISHARES TR	25,949	$3.41M	0.3%	0	Timeline
BRK-ABERKSHIRE HATHAWAY INC DEL	5	$3.4M	0.3%	0	Timeline
MUSAMURPHY USA INC	6,754	$3.39M	0.3%	+5,549	Timeline
VAWVANGUARD WORLD FD	17,998	$3.38M	0.3%	-170	Timeline
ADBEADOBE INC	7,436	$3.31M	0.29%	-1,812	Timeline
VNQVANGUARD INDEX FDS	36,812	$3.28M	0.29%	-10,183	Timeline
SGOLETFS GOLD TR	127,340	$3.19M	0.28%	-170	Timeline
TSLATESLA INC	7,441	$3M	0.27%	+2,545	Timeline
SLBSLB LIMITED	74,645	$2.86M	0.25%	+51,715	Timeline
RHRH	7,189	$2.83M	0.25%	-4,811	Timeline
SDYSPDR SERIES TRUST	20,989	$2.77M	0.25%	0	Timeline
NOVNOV INC	186,767	$2.73M	0.24%	-94,682	Timeline
IJRISHARES TR	23,562	$2.71M	0.24%	-162	Timeline
MTBASIMPLIFY EXCHANGE TRADED FUN	50,489	$2.51M	0.22%	+2,354	Timeline
NOWSERVICENOW INC	2,216	$2.35M	0.21%	-849	Timeline
BWXTBWX TECHNOLOGIES INC	20,979	$2.34M	0.21%	+5,250	Timeline
SBUXSTARBUCKS CORP	24,349	$2.22M	0.2%	+848	Timeline
NXRTNEXPOINT RESIDENTIAL TR INC	47,670	$1.99M	0.18%	-14,419	Timeline
LULULULULEMON ATHLETICA INC	5,177	$1.98M	0.17%	+1,668	Timeline
WMTWALMART INC	20,891	$1.89M	0.17%	+5,194	Timeline
EXCEXELON CORP	47,180	$1.78M	0.16%	0	Timeline
OKEONEOK INC NEW	17,602	$1.77M	0.16%	-20	Timeline
DGRWWISDOMTREE TR	21,779	$1.76M	0.16%	-5,500	Timeline
ELVELEVANCE HEALTH INC FORMERLY	4,275	$1.58M	0.14%	-650	Timeline
UNILEVER PLCUNILEVER PLC	26,185	$1.48M	0.13%	-199
MOALTRIA GROUP INC	26,045	$1.36M	0.12%	-20	Timeline
AMGNAMGEN INC	5,082	$1.32M	0.12%	-45	Timeline
DEODIAGEO PLC	9,697	$1.23M	0.11%	-7,888	Timeline
AVBAVALONBAY CMNTYS INC	5,587	$1.23M	0.11%	new	Timeline
TAT&T INC	53,595	$1.22M	0.11%	0	Timeline
SPYSTATE STR SPDR S&P 500 ETF T	1,946	$1.14M	0.1%	+765	Timeline
ORCLORACLE CORP	6,609	$1.1M	0.1%	-935	Timeline
DINOHF SINCLAIR CORP	29,450	$1.03M	0.09%	0	Timeline
NTRANATERA INC	6,499	$1.03M	0.09%	new	Timeline
DALDELTA AIR LINES INC	16,957	$1.03M	0.09%	0	Timeline
ETRENTERGY CORP NEW	13,000	$986K	0.09%	+6,500	Timeline
XLESELECT SECTOR SPDR TR	11,341	$971K	0.09%	-4,633	Timeline
SCHDSCHWAB STRATEGIC TR	34,695	$948K	0.08%	+23,130	Timeline
NXPINXP SEMICONDUCTORS N V	4,540	$944K	0.08%	-500	Timeline
TSMTAIWAN SEMICONDUCTOR MANUFAC	4,624	$913K	0.08%	0	Timeline
IWRISHARES TR	10,231	$904K	0.08%	0	Timeline
XLVSELECT SECTOR SPDR TR	6,555	$902K	0.08%	-700	Timeline
XLUSELECT SECTOR SPDR TR	11,822	$895K	0.08%	0	Timeline
MUMICRON TECHNOLOGY INC	10,520	$885K	0.08%	0	Timeline
IJJISHARES TR	6,923	$865K	0.08%	0	Timeline
IJHISHARES TR	13,780	$859K	0.08%	0	Timeline
EPDENTERPRISE PRODS PARTNERS L	26,200	$822K	0.07%	0	Timeline
TMUST-MOBILE US INC	3,656	$807K	0.07%	+1,792	Timeline
VUGVANGUARD INDEX FDS	1,800	$739K	0.07%	0	Timeline
VISVANGUARD WORLD FD	2,799	$712K	0.06%	0	Timeline
XLPSELECT SECTOR SPDR TR	9,044	$711K	0.06%	+34	Timeline
BHPBHP BILLITON LIMITED	14,000	$684K	0.06%	-4,550	Timeline
LMBSFIRST TR EXCHANGE-TRADED FD	13,879	$675K	0.06%	+1,297	Timeline
BATRKATLANTA BRAVES HLDGS INC	17,399	$666K	0.06%	0	Timeline
IWMISHARES TR	2,981	$659K	0.06%	+20	Timeline
TAPMOLSON COORS BEVERAGE CO	11,075	$635K	0.06%	0	Timeline
RIGTRANSOCEAN LTD	160,000	$600K	0.05%	0	Timeline
SWKSSKYWORKS SOLUTIONS INC	6,557	$581K	0.05%	-8,475	Timeline
HONHONEYWELL INTL INC	2,522	$570K	0.05%	-1,502	Timeline
VXFVANGUARD INDEX FDS	2,980	$566K	0.05%	0	Timeline
DHID R HORTON INC	3,735	$522K	0.05%	-3,683	Timeline
CVSCVS HEALTH CORP	11,509	$517K	0.05%	-15,585	Timeline
BABOEING CO	2,917	$516K	0.05%	-10	Timeline
EEMISHARES TR	12,250	$512K	0.05%	0	Timeline
TDVPROSHARES TR	6,390	$482K	0.04%	0	Timeline
GMGENERAL MTRS CO	8,362	$445K	0.04%	-469	Timeline
CALFPACER FDS TR	10,000	$440K	0.04%	0	Timeline
DEDEERE & CO	990	$419K	0.04%	-377	Timeline
VGKVANGUARD INTL EQUITY INDEX F	6,400	$406K	0.04%	0	Timeline
IYEISHARES TR	8,825	$402K	0.04%	0	Timeline
WFCWELLS FARGO & CO	5,510	$387K	0.03%	0	Timeline
VBKVANGUARD INDEX FDS	1,350	$378K	0.03%	0	Timeline
NOBLPROSHARES TR	3,500	$348K	0.03%	0	Timeline
JBHTHUNT J B TRANS SVCS INC	2,022	$345K	0.03%	new	Timeline
ITAISHARES TR	2,260	$328K	0.03%	0	Timeline
MGOVFIRST TR EXCHANGE-TRADED FD	16,172	$321K	0.03%	new	Timeline
SOSOUTHERN CO	3,859	$318K	0.03%	0	Timeline
SONYSONY GROUP CORP	15,000	$317K	0.03%	+12,000	Timeline
VWOVANGUARD INTL EQUITY INDEX F	7,190	$317K	0.03%	0	Timeline
FDXFEDEX CORP	1,120	$315K	0.03%	0	Timeline
LUVSOUTHWEST AIRLS CO	9,080	$305K	0.03%	-235	Timeline
FMYFIRST TR MTG INCOME FD	25,461	$305K	0.03%	-1,206	Timeline
SPMOINVESCO EXCH TRADED FD TR II	3,135	$298K	0.03%	new	Timeline
VONEVANGUARD SCOTTSDALE FDS	1,011	$270K	0.02%	0	Timeline
BRK-BBERKSHIRE HATHAWAY INC DEL	586	$266K	0.02%	0	Timeline
XLFSELECT SECTOR SPDR TR	5,250	$254K	0.02%	0	Timeline
XLISELECT SECTOR SPDR TR	1,925	$254K	0.02%	0	Timeline
AORISHARES TR	4,200	$241K	0.02%	0	Timeline
SCHXSCHWAB STRATEGIC TR	9,909	$230K	0.02%	+6,476	Timeline
PFEPFIZER INC	8,474	$225K	0.02%	-12,071	Timeline
GOOGLALPHABET INC	1,175	$222K	0.02%	new	Timeline
IYHISHARES TR	3,750	$219K	0.02%	0	Timeline
CMCSACOMCAST CORP NEW	5,702	$214K	0.02%	0	Timeline
VCLTVANGUARD SCOTTSDALE FDS	2,806	$210K	0.02%	+122	Timeline
NUVNUVEEN MUN VALUE FD INC	10,050	$86.3K	0.01%	new	Timeline
BP PRUDHOE BAY RTY TRBP PRUDHOE BAY RTY TR	23,587	$12.5K	<0.01%	-1,367

Sold out in Q4 2024

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
VOOVANGUARD INDEX FDS	3,428	$1.81M	shares
PGXINVESCO EXCH TRADED FD TR II	43,000	$531K	shares
IEMGISHARES INC	7,000	$402K	shares
BUDANHEUSER BUSCH INBEV SA NV	5,200	$345K	shares
FFORD MTR CO	31,661	$334K	shares
INTCINTEL CORP	13,179	$309K	shares
QRVOQORVO INC	2,240	$231K	shares
PRUPRUDENTIAL FINL INC	1,666	$202K	shares
ACHRARCHER AVIATION INC	13,223	$40.1K	shares

How Q4 2024 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001085146-25-000391	base		2025-01-22	acceptance time not in the bulk data set	2026-10-07 18:25:55 UTC