Narwhal Capital Management
SEC Form 13F institutional filer · CIK 0001461287
13F-HR · 108 reported holdings · 2026-03-31
Narwhal Capital Management is a hedge fund.
Reported long-US-equity value
$1.19B
Top-10 concentration
52.6%
Narwhal Capital Management — $1.19B AUM allocation strategy
Narwhal Capital Management files SEC Form 13F and reports $1.19B of long US equity value across 108 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 20.1%, followed by Financials 11.0% and Communication Services 9.2%.
The top 10 holdings account for 53% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Narwhal Capital Management — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$1.19B
total across 108 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
53% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$NFLX +39.1K sh · +$3.78M+$ICE +35.1K sh · +$5.44M+$NOW +15.8K sh · +$821K
Biggest trims (shares)
−$BLK −31.7K sh · −$4.65M−$KR −18.2K sh · −$1.02M−$CSCO −15.6K sh · −$1.09M
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Interactive Media & Services9.2%—
- Semiconductors9.0%—
- Technology Hardware, Storage & Peripherals6.0%—
- Systems Software5.1%—
- Broadline Retail3.9%—
- Pharmaceuticals3.6%—
- Diversified Banks3.2%—
- Construction Materials3.1%—
- Other holdings56.9%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
9 of 9 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 499K | $87.1M | +1.34K | 7.3% |
| $GOOGL | Alphabet Inc | 286K | $81.9M | +1.01K | 6.9% |
| $AAPL | Apple Inc | 280K | $70.9M | +3.42K | 6.0% |
| $MSFT | Microsoft Corporation | 164K | $60.8M | +2.74K | 5.1% |
| $AMZN | Amazon.com Inc | 221K | $46M | +4.14K | 3.9% |
| $JPM | JP Morgan Chase & Co | 130K | $38.2M | -194 | 3.2% |
| $VMC | Vulcan Materials Company | 135K | $36.6M | +1.69K | 3.1% |
| $BLK | BlackRock Inc | 433K | $33.8M | -31.7K | 2.8% |
| $META | Meta Platforms Inc | 49.1K | $28.1M | +542 | 2.4% |
…and 99 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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