Narwhal Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
22ND CENTY GROUP INC	COM	90137F103	35	15,250	SH		SOLE		0	15,250	0
ABBOTT LABS	COM	002824100	7,174	60,609	SH		SOLE		0	60,609	0
ABRDN GOLD ETF TRUST	PHYSCL GOLD SHS	00326A104	2,580	138,842	SH		SOLE		0	138,842	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	10,807	23,720	SH		SOLE		0	23,720	0
ALPHABET INC	CAP STK CL C	02079K107	40,909	14,647	SH		SOLE		0	14,647	0
ALTRIA GROUP INC	COM	02209S103	1,410	26,985	SH		SOLE		0	26,985	0
AMAZON COM INC	COM	023135106	30,676	9,410	SH		SOLE		0	9,410	0
AMERICAN EXPRESS CO	COM	025816109	13,852	74,075	SH		SOLE		0	74,075	0
AMGEN INC	COM	031162100	1,160	4,797	SH		SOLE		0	4,797	0
ANALOG DEVICES INC	COM	032654105	7,088	42,912	SH		SOLE		0	42,912	0
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	203	3,376	SH		SOLE		0	3,376	0
ANTHEM INC	COM	036752103	4,776	9,722	SH		SOLE		0	9,722	0
APPLE INC	COM	037833100	54,629	312,861	SH		SOLE		0	312,861	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	2,645	5	SH		SOLE		0	5	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	207	587	SH		SOLE		0	587	0
BHP GROUP LTD	SPONSORED ADS	088606108	1,112	14,400	SH		SOLE		0	14,400	0
BK OF AMERICA CORP	COM	060505104	335	8,120	SH		SOLE		0	8,120	0
BLACKROCK INC	COM	09247X101	16,960	22,194	SH		SOLE		0	22,194	0
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	12,470	527,728	SH		SOLE		0	527,728	0
BLACKSTONE INC	COM	09260D107	9,111	71,778	SH		SOLE		0	71,778	0
BOEING CO	COM	097023105	3,321	17,343	SH		SOLE		0	17,343	0
CARNIVAL CORP	COMMON STOCK	143658300	1,988	98,300	SH		SOLE		0	98,300	0
CATERPILLAR INC	COM	149123101	1,045	4,690	SH		SOLE		0	4,690	0
CHEVRON CORP NEW	COM	166764100	5,791	35,562	SH		SOLE		0	35,562	0
CINCINNATI FINL CORP	COM	172062101	1,674	12,312	SH		SOLE		0	12,312	0
CISCO SYS INC	COM	17275R102	11,905	213,497	SH		SOLE		0	213,497	0
CITIGROUP INC	COM NEW	172967424	436	8,163	SH		SOLE		0	8,163	0
CMC MATERIALS INC	COM	12571T100	2,634	14,209	SH		SOLE		0	14,209	0
COCA COLA CO	COM	191216100	1,159	18,696	SH		SOLE		0	18,696	0
COMCAST CORP NEW	CL A	20030N101	803	17,159	SH		SOLE		0	17,159	0
CONSTELLATION BRANDS INC	CL A	21036P108	3,953	17,162	SH		SOLE		0	17,162	0
CONSTELLATION ENERGY CORP	COM	21037T109	882	15,672	SH		SOLE		0	15,672	0
COSTCO WHSL CORP NEW	COM	22160K105	5,270	9,151	SH		SOLE		0	9,151	0
CVS HEALTH CORP	COM	126650100	4,191	41,409	SH		SOLE		0	41,409	0
DEERE & CO	COM	244199105	4,434	10,672	SH		SOLE		0	10,672	0
DELTA AIR LINES INC DEL	COM NEW	247361702	1,531	38,700	SH		SOLE		0	38,700	0
DIAGEO PLC	SPON ADR NEW	25243Q205	8,625	42,458	SH		SOLE		0	42,458	0
DISCOVER FINL SVCS	COM	254709108	1,070	9,714	SH		SOLE		0	9,714	0
DISNEY WALT CO	COM	254687106	11,198	81,644	SH		SOLE		0	81,644	0
DOMINION ENERGY INC	COM	25746U109	4,076	47,966	SH		SOLE		0	47,966	0
ENTERGY CORP NEW	COM	29364G103	759	6,500	SH		SOLE		0	6,500	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	516	20,000	SH		SOLE		0	20,000	0
EXELON CORP	COM	30161N101	2,249	47,223	SH		SOLE		0	47,223	0
EXXON MOBIL CORP	COM	30231G102	6,797	82,301	SH		SOLE		0	82,301	0
FARADAY FUTRE INTLGT ELCTR I	*W EXP 03/20/202	307359117	31	35,000	SH		SOLE		0	35,000	0
FIRST TR HIGH YIELD OPPRT 20	COM	33741Q107	683	39,209	SH		SOLE		0	39,209	0
FIRST TR SR FLTG RATE INCOME	COM	33733U108	204	16,248	SH		SOLE		0	16,248	0
GENERAL DYNAMICS CORP	COM	369550108	6,384	26,468	SH		SOLE		0	26,468	0
GENERAL ELECTRIC CO	COM NEW	369604301	289	3,158	SH		SOLE		0	3,158	0
GENERAL MTRS CO	COM	37045V100	7,722	176,549	SH		SOLE		0	176,549	0
GOLDMAN SACHS GROUP INC	COM	38141G104	8,077	24,467	SH		SOLE		0	24,467	0
HCA HEALTHCARE INC	COM	40412C101	5,061	20,192	SH		SOLE		0	20,192	0
HF SINCLAIR CORPORATION	COM	403949100	1,174	29,450	SH		SOLE		0	29,450	0
HOME DEPOT INC	COM	437076102	15,536	51,902	SH		SOLE		0	51,902	0
INTEL CORP	COM	458140100	1,680	33,893	SH		SOLE		0	33,893	0
INVESCO EXCH TRADED FD TR II	PFD ETF	46138E511	841	62,000	SH		SOLE		0	62,000	0
INVESCO QQQ TR	UNIT SER 1	46090E103	3,971	10,954	SH		SOLE		0	10,954	0
ISHARES GOLD TR	ISHARES NEW	464285204	24,290	659,518	SH		SOLE		0	659,518	0
ISHARES TR	CORE S&P MCP ETF	464287507	620	2,309	SH		SOLE		0	2,309	0
ISHARES TR	CORE S&P SCP ETF	464287804	1,557	14,436	SH		SOLE		0	14,436	0
ISHARES TR	CORE S&P500 ETF	464287200	55,499	122,328	SH		SOLE		0	122,328	0
ISHARES TR	GRWT ALLOCAT ETF	464289867	227	4,200	SH		SOLE		0	4,200	0
ISHARES TR	MSCI EMG MKT ETF	464287234	553	12,250	SH		SOLE		0	12,250	0
ISHARES TR	RUS 1000 GRW ETF	464287614	7,364	26,523	SH		SOLE		0	26,523	0
ISHARES TR	RUS MID CAP ETF	464287499	800	10,253	SH		SOLE		0	10,253	0
ISHARES TR	RUSSELL 2000 ETF	464287655	458	2,230	SH		SOLE		0	2,230	0
ISHARES TR	S&P 500 GRWT ETF	464287309	4,277	56,000	SH		SOLE		0	56,000	0
ISHARES TR	S&P 500 VAL ETF	464287408	12,556	80,630	SH		SOLE		0	80,630	0
ISHARES TR	S&P MC 400VL ETF	464287705	274	2,500	SH		SOLE		0	2,500	0
ISHARES TR	SELECT DIVID ETF	464287168	2,369	18,489	SH		SOLE		0	18,489	0
ISHARES TR	SP SMCP600VL ETF	464287879	259	2,533	SH		SOLE		0	2,533	0
ISHARES TR	U.S. ENERGY ETF	464287796	361	8,825	SH		SOLE		0	8,825	0
ISHARES TR	US HLTHCARE ETF	464287762	217	750	SH		SOLE		0	750	0
JOHNSON & JOHNSON	COM	478160104	16,431	92,709	SH		SOLE		0	92,709	0
JPMORGAN CHASE & CO	COM	46625H100	19,309	141,645	SH		SOLE		0	141,645	0
KINDER MORGAN INC DEL	COM	49456B101	2,830	149,650	SH		SOLE		0	149,650	0
KINDER MORGAN INC DEL	COM	49456B101	50	44,000	SH	Call	SOLE		0	44,000	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	11,308	45,510	SH		SOLE		0	45,510	0
LIBERTY MEDIA CORP DEL	COM C BRAVES GRP	531229888	487	17,443	SH		SOLE		0	17,443	0
LILLY ELI & CO	COM	532457108	246	858	SH		SOLE		0	858	0
LOCKHEED MARTIN CORP	COM	539830109	7,541	17,084	SH		SOLE		0	17,084	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	1,674	34,124	SH		SOLE		0	34,124	0
MERCK & CO INC	COM	58933Y105	5,217	63,585	SH		SOLE		0	63,585	0
META PLATFORMS INC	CL A	30303M102	12,688	57,062	SH		SOLE		0	57,062	0
MICRON TECHNOLOGY INC	COM	595112103	1,148	14,737	SH		SOLE		0	14,737	0
MICROSOFT CORP	COM	594918104	50,737	164,564	SH		SOLE		0	164,564	0
MOLSON COORS BEVERAGE CO	CL B	60871R209	240	4,500	SH		SOLE		0	4,500	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	11,836	131,054	SH		SOLE		0	131,054	0
NEXTERA ENERGY INC	COM	65339F101	10,337	122,029	SH		SOLE		0	122,029	0
NIKE INC	CL B	654106103	5,405	40,170	SH		SOLE		0	40,170	0
NORTHROP GRUMMAN CORP	COM	666807102	9,436	21,099	SH		SOLE		0	21,099	0
NOV INC	COM	62955J103	6,030	307,495	SH		SOLE		0	307,495	0
NOVARTIS AG	SPONSORED ADR	66987V109	4,775	54,413	SH		SOLE		0	54,413	0
NUVEEN CORPORATE INCOME 2023	COM	67079F101	271	28,696	SH		SOLE		0	28,696	0
NUVEEN GEORGIA QLTY MUN INC	COM	67072B107	603	51,792	SH		SOLE		0	51,792	0
NUVEEN MUN VALUE FD INC	COM	670928100	209	21,800	SH		SOLE		0	21,800	0
NUVEEN MUNICIPAL CREDIT INC	COM SH BEN INT	67070X101	163	11,131	SH		SOLE		0	11,131	0
NUVEEN NEW JERSEY QULT MUN F	COM	67069Y102	420	31,362	SH		SOLE		0	31,362	0
NUVEEN NEW YORK AMT QLT MUNI	COM	670656107	1,127	92,875	SH		SOLE		0	92,875	0
NUVEEN PENNSYLVANIA QLT MUN	COM	670972108	205	15,205	SH		SOLE		0	15,205	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	127	13,275	SH		SOLE		0	13,275	0
NVIDIA CORPORATION	COM	67066G104	17,086	62,617	SH		SOLE		0	62,617	0
OAKTREE ACQUISITION CORP II	UNIT 09/15/2027	G6715X129	242	24,000	SH		SOLE		0	24,000	0
ORACLE CORP	COM	68389X105	646	7,813	SH		SOLE		0	7,813	0
PAYPAL HLDGS INC	COM	70450Y103	946	8,178	SH		SOLE		0	8,178	0
PEPSICO INC	COM	713448108	9,465	56,549	SH		SOLE		0	56,549	0
PFIZER INC	COM	717081103	10,113	195,351	SH		SOLE		0	195,351	0
PHILIP MORRIS INTL INC	COM	718172109	1,778	18,925	SH		SOLE		0	18,925	0
PIONEER MUNICIPAL HIGH INCOM	COM	723762100	543	55,277	SH		SOLE		0	55,277	0
PROCTER AND GAMBLE CO	COM	742718109	14,887	97,429	SH		SOLE		0	97,429	0
PROSHARES TR	PSHS ULTRA O&G	74347G705	318	2,249	SH		SOLE		0	2,249	0
PROSHARES TR II	ULTRASHRT EURO	74347W882	31	350,200	SH	Call	SOLE		0	350,200	0
QUALCOMM INC	COM	747525103	3,495	22,873	SH		SOLE		0	22,873	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	6,104	61,608	SH		SOLE		0	61,608	0
SCOTTS MIRACLE-GRO CO	CL A	810186106	1,101	8,956	SH		SOLE		0	8,956	0
SELECT SECTOR SPDR TR	ENERGY	81369Y506	898	11,750	SH		SOLE		0	11,750	0
SELECT SECTOR SPDR TR	FINANCIAL	81369Y605	209	5,450	SH		SOLE		0	5,450	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	3,345	21,049	SH		SOLE		0	21,049	0
SERVICENOW INC	COM	81762P102	4,741	8,514	SH		SOLE		0	8,514	0
SKYWORKS SOLUTIONS INC	COM	83088M102	3,737	28,038	SH		SOLE		0	28,038	0
SONY GROUP CORPORATION	SPONSORED ADR	835699307	1,797	17,500	SH		SOLE		0	17,500	0
SOUTHWEST AIRLS CO	COM	844741108	6,595	144,004	SH		SOLE		0	144,004	0
SPDR DOW JONES INDL AVERAGE	UT SER 1	78467X109	2,792	8,050	SH		SOLE		0	8,050	0
SPDR GOLD TR	GOLD SHS	78463V107	3,928	21,745	SH		SOLE		0	21,745	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	273	605	SH		SOLE		0	605	0
SPDR SER TR	S&P DIVID ETF	78464A763	2,238	17,470	SH		SOLE		0	17,470	0
STARBUCKS CORP	COM	855244109	3,370	37,049	SH		SOLE		0	37,049	0
STRATEGY SHS	NS 7HANDL IDX	86280R506	434	18,000	SH		SOLE		0	18,000	0
TARGET CORP	COM	87612E106	13,083	61,647	SH		SOLE		0	61,647	0
TESLA INC	COM	88160R101	1,184	1,099	SH		SOLE		0	1,099	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	1,825	3,089	SH		SOLE		0	3,089	0
TRANSOCEAN LTD	REG SHS	H8817H100	137	30,000	SH		SOLE		0	30,000	0
TRANSOCEAN LTD	REG SHS	H8817H100	90	85,000	SH	Call	SOLE		0	85,000	0
UNILEVER PLC	SPON ADR NEW	904767704	3,137	68,837	SH		SOLE		0	68,837	0
UNION PAC CORP	COM	907818108	6,272	22,955	SH		SOLE		0	22,955	0
UNITEDHEALTH GROUP INC	COM	91324P102	22,758	44,626	SH		SOLE		0	44,626	0
VALERO ENERGY CORP	COM	91913Y100	2,373	23,367	SH		SOLE		0	23,367	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	257	3,299	SH		SOLE		0	3,299	0
VANGUARD INDEX FDS	EXTEND MKT ETF	922908652	533	3,218	SH		SOLE		0	3,218	0
VANGUARD INDEX FDS	GROWTH ETF	922908736	518	1,800	SH		SOLE		0	1,800	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	337	3,105	SH		SOLE		0	3,105	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	423	9,165	SH		SOLE		0	9,165	0
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	402	6,459	SH		SOLE		0	6,459	0
VANGUARD SCOTTSDALE FDS	INT-TERM CORP	92206C870	203	2,354	SH		SOLE		0	2,354	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000IDX	92206C730	209	1,011	SH		SOLE		0	1,011	0
VANGUARD WORLD FDS	INDUSTRIAL ETF	92204A603	545	2,802	SH		SOLE		0	2,802	0
VANGUARD WORLD FDS	MATERIALS ETF	92204A801	244	1,256	SH		SOLE		0	1,256	0
VERIZON COMMUNICATIONS INC	COM	92343V104	10,502	206,158	SH		SOLE		0	206,158	0
VISA INC	COM CL A	92826C839	9,226	41,604	SH		SOLE		0	41,604	0
VULCAN MATLS CO	COM	929160109	26,967	146,797	SH		SOLE		0	146,797	0
WALMART INC	COM	931142103	684	4,596	SH		SOLE		0	4,596	0
WELLS FARGO CO NEW	COM	949746101	1,352	27,893	SH		SOLE		0	27,893	0
WESTERN ASSET INTER MUNI FD	COM	958435109	185	21,497	SH		SOLE		0	21,497	0
WHOLE EARTH BRANDS INC	*W EXP 06/25/202	96684W126	294	507,828	SH		SOLE		0	507,828	0
WORLD WRESTLING ENTMT INC	CL A	98156Q108	680	10,887	SH		SOLE		0	10,887	0