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	14,038	15,250	SH		SOLE		0	15,250	0
ABBOTT LABS	COM	002824100	3,994,213	36,380	SH		SOLE		0	36,380	0
ABRDN GOLD ETF TRUST	PHYSCL GOLD SHS	00326A104	2,432,645	139,247	SH		SOLE		0	139,247	0
ADAPTIMMUNE THERAPEUTICS PLC	SPONDS ADR	00653A107	15,102	10,344	SH		SOLE		0	10,344	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	4,176,001	12,409	SH		SOLE		0	12,409	0
ALPHABET INC	CAP STK CL C	02079K107	25,071,016	282,554	SH		SOLE		0	282,554	0
ALTRIA GROUP INC	COM	02209S103	1,225,851	26,818	SH		SOLE		0	26,818	0
AMAZON COM INC	COM	023135106	14,872,200	177,050	SH		SOLE		0	177,050	0
AMERICAN EXPRESS CO	COM	025816109	11,792,468	79,813	SH		SOLE		0	79,813	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	2,155,982	14,145	SH		SOLE		0	14,145	0
AMGEN INC	COM	031162100	1,546,804	5,889	SH		SOLE		0	5,889	0
ANALOG DEVICES INC	COM	032654105	8,329,443	50,780	SH		SOLE		0	50,780	0
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	925,517	15,415	SH		SOLE		0	15,415	0
APPLE INC	COM	037833100	37,973,376	292,260	SH		SOLE		0	292,260	0
ARCHER DANIELS MIDLAND CO	COM	039483102	675,484	7,275	SH		SOLE		0	7,275	0
AT&T INC	COM	00206R102	1,930,325	104,852	SH		SOLE		0	104,852	0
AUTODESK INC	COM	052769106	4,206,257	22,509	SH		SOLE		0	22,509	0
BANK AMERICA CORP	COM	060505104	291,555	8,803	SH		SOLE		0	8,803	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	2,343,555	5	SH		SOLE		0	5	0
BHP GROUP LTD	SPONSORED ADS	088606108	1,206,873	19,450	SH		SOLE		0	19,450	0
BLACKROCK INC	COM	09247X101	13,881,048	19,588	SH		SOLE		0	19,588	0
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	11,326,072	531,990	SH		SOLE		0	531,990	0
BLACKSTONE INC	COM	09260D107	4,333,586	58,412	SH		SOLE		0	58,412	0
BOEING CO	COM	097023105	2,992,026	15,707	SH		SOLE		0	15,707	0
BP PRUDHOE BAY RTY TR	UNIT BEN INT	055630107	529,444	45,524	SH		SOLE		0	45,524	0
BWX TECHNOLOGIES INC	COM	05605H100	680,851	11,722	SH		SOLE		0	11,722	0
CATERPILLAR INC	COM	149123101	5,038,427	21,032	SH		SOLE		0	21,032	0
CHAMPIONX CORPORATION	COM	15872M104	4,417,844	152,392	SH		SOLE		0	152,392	0
CHEVRON CORP NEW	COM	166764100	6,423,635	35,788	SH		SOLE		0	35,788	0
CINCINNATI FINL CORP	COM	172062101	310,054	3,028	SH		SOLE		0	3,028	0
CISCO SYS INC	COM	17275R102	13,414,952	281,590	SH		SOLE		0	281,590	0
CLEVELAND-CLIFFS INC NEW	COM	185899101	193,320	12,000	SH		SOLE		0	12,000	0
COCA COLA CO	COM	191216100	1,217,956	19,147	SH		SOLE		0	19,147	0
COMCAST CORP NEW	CL A	20030N101	266,649	7,625	SH		SOLE		0	7,625	0
CONSTELLATION BRANDS INC	CL A	21036P108	3,244,764	14,001	SH		SOLE		0	14,001	0
CONSTELLATION ENERGY CORP	COM	21037T109	1,349,876	15,658	SH		SOLE		0	15,658	0
COSTCO WHSL CORP NEW	COM	22160K105	7,296,240	15,983	SH		SOLE		0	15,983	0
CVS HEALTH CORP	COM	126650100	4,584,038	49,190	SH		SOLE		0	49,190	0
DEERE & CO	COM	244199105	2,182,399	5,090	SH		SOLE		0	5,090	0
DELTA AIR LINES INC DEL	COM NEW	247361702	1,288,408	39,209	SH		SOLE		0	39,209	0
DIAGEO PLC	SPON ADR NEW	25243Q205	9,323,111	52,321	SH		SOLE		0	52,321	0
DISCOVER FINL SVCS	COM	254709108	330,034	3,373	SH		SOLE		0	3,373	0
DISNEY WALT CO	COM	254687106	3,473,454	39,979	SH		SOLE		0	39,979	0
DOMINION ENERGY INC	COM	25746U109	3,165,860	51,628	SH		SOLE		0	51,628	0
ELEVANCE HEALTH INC	COM	036752103	4,971,705	9,692	SH		SOLE		0	9,692	0
ENTEGRIS INC	COM	29362U104	1,681,268	25,633	SH		SOLE		0	25,633	0
ENTERGY CORP NEW	COM	29364G103	731,250	6,500	SH		SOLE		0	6,500	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	1,224,042	50,748	SH		SOLE		0	50,748	0
EXELON CORP	COM	30161N101	2,039,726	47,183	SH		SOLE		0	47,183	0
EXXON MOBIL CORP	COM	30231G102	9,643,970	87,433	SH		SOLE		0	87,433	0
FEDEX CORP	COM	31428X106	367,184	2,120	SH		SOLE		0	2,120	0
FIRST TR EXCHANGE-TRADED FD	FST LOW OPPT EFT	33739Q200	279,766	5,901	SH		SOLE		0	5,901	0
FORD MTR CO DEL	COM	345370860	687,066	59,077	SH		SOLE		0	59,077	0
GENERAL DYNAMICS CORP	COM	369550108	6,349,961	25,593	SH		SOLE		0	25,593	0
GENERAL MTRS CO	COM	37045V100	4,596,579	136,640	SH		SOLE		0	136,640	0
GOLDMAN SACHS GROUP INC	COM	38141G104	11,523,697	33,559	SH		SOLE		0	33,559	0
HCA HEALTHCARE INC	COM	40412C101	9,931,992	41,390	SH		SOLE		0	41,390	0
HF SINCLAIR CORP	COM	403949100	1,528,161	29,450	SH		SOLE		0	29,450	0
HOME DEPOT INC	COM	437076102	16,286,670	51,562	SH		SOLE		0	51,562	0
HUNT J B TRANS SVCS INC	COM	445658107	3,721,715	21,345	SH		SOLE		0	21,345	0
INTEL CORP	COM	458140100	785,616	29,724	SH		SOLE		0	29,724	0
INVESCO EXCH TRADED FD TR II	PFD ETF	46138E511	581,360	52,000	SH		SOLE		0	52,000	0
INVESCO QQQ TR	UNIT SER 1	46090E103	2,664,930	10,008	SH		SOLE		0	10,008	0
ISHARES GOLD TR	ISHARES NEW	464285204	23,443,995	677,768	SH		SOLE		0	677,768	0
ISHARES TR	CORE S&P MCP ETF	464287507	505,550	2,090	SH		SOLE		0	2,090	0
ISHARES TR	CORE S&P SCP ETF	464287804	1,802,287	19,043	SH		SOLE		0	19,043	0
ISHARES TR	CORE S&P500 ETF	464287200	49,382,679	128,530	SH		SOLE		0	128,530	0
ISHARES TR	MSCI EMG MKT ETF	464287234	464,275	12,250	SH		SOLE		0	12,250	0
ISHARES TR	RUS 1000 GRW ETF	464287614	5,691,928	26,568	SH		SOLE		0	26,568	0
ISHARES TR	RUS MID CAP ETF	464287499	691,497	10,252	SH		SOLE		0	10,252	0
ISHARES TR	RUSSELL 2000 ETF	464287655	563,183	3,230	SH		SOLE		0	3,230	0
ISHARES TR	S&P 500 GRWT ETF	464287309	3,276,000	56,000	SH		SOLE		0	56,000	0
ISHARES TR	S&P 500 VAL ETF	464287408	12,741,498	87,830	SH		SOLE		0	87,830	0
ISHARES TR	S&P MC 400VL ETF	464287705	252,000	2,500	SH		SOLE		0	2,500	0
ISHARES TR	SELECT DIVID ETF	464287168	2,302,133	19,089	SH		SOLE		0	19,089	0
ISHARES TR	SP SMCP600VL ETF	464287879	231,351	2,533	SH		SOLE		0	2,533	0
ISHARES TR	U.S. ENERGY ETF	464287796	410,274	8,825	SH		SOLE		0	8,825	0
ISHARES TR	US AER DEF ETF	464288760	331,106	2,960	SH		SOLE		0	2,960	0
ISHARES TR	US HLTHCARE ETF	464287762	212,783	750	SH		SOLE		0	750	0
JOHNSON & JOHNSON	COM	478160104	15,324,748	86,752	SH		SOLE		0	86,752	0
JPMORGAN CHASE & CO	COM	46625H100	18,832,107	140,433	SH		SOLE		0	140,433	0
KINDER MORGAN INC DEL	COM	49456B101	2,741,832	151,650	SH		SOLE		0	151,650	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	8,441,293	40,542	SH		SOLE		0	40,542	0
LIBERTY MEDIA CORP DEL	COM C BRAVES GRP	531229888	561,414	17,419	SH		SOLE		0	17,419	0
LILLY ELI & CO	COM	532457108	7,437,893	20,331	SH		SOLE		0	20,331	0
LOCKHEED MARTIN CORP	COM	539830109	7,731,777	15,892	SH		SOLE		0	15,892	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	1,753,534	34,924	SH		SOLE		0	34,924	0
MERCK & CO INC	COM	58933Y105	6,682,113	60,226	SH		SOLE		0	60,226	0
META PLATFORMS INC	CL A	30303M102	2,428,461	20,180	SH		SOLE		0	20,180	0
MICRON TECHNOLOGY INC	COM	595112103	574,276	11,490	SH		SOLE		0	11,490	0
MICROSOFT CORP	COM	594918104	37,929,213	158,157	SH		SOLE		0	158,157	0
MOLSON COORS BEVERAGE CO	CL B	60871R209	1,311,699	25,460	SH		SOLE		0	25,460	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	8,974,250	206,209	SH		SOLE		0	206,209	0
NEXTERA ENERGY INC	COM	65339F101	10,996,242	131,533	SH		SOLE		0	131,533	0
NIKE INC	CL B	654106103	1,518,303	12,975	SH		SOLE		0	12,975	0
NORTHROP GRUMMAN CORP	COM	666807102	10,997,015	20,155	SH		SOLE		0	20,155	0
NOV INC	COM	62955J103	7,092,720	339,527	SH		SOLE		0	339,527	0
NOVARTIS AG	SPONSORED ADR	66987V109	5,014,911	55,279	SH		SOLE		0	55,279	0
NUVEEN CORPORATE INCOME 2023	COM	67079F101	192,782	21,249	SH		SOLE		0	21,249	0
NUVEEN GEORGIA QLTY MUN INC	COM	67072B107	367,793	36,311	SH		SOLE		0	36,311	0
NUVEEN MUN VALUE FD INC	COM	670928100	114,165	13,275	SH		SOLE		0	13,275	0
NUVEEN MUNICIPAL CREDIT INC	COM SH BEN INT	67070X101	129,908	10,754	SH		SOLE		0	10,754	0
NUVEEN NEW JERSEY QULT MUN F	COM	67069Y102	154,297	13,654	SH		SOLE		0	13,654	0
NUVEEN NEW YORK AMT QLT MUNI	COM	670656107	740,864	72,208	SH		SOLE		0	72,208	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	90,600	10,000	SH		SOLE		0	10,000	0
NVIDIA CORPORATION	COM	67066G104	8,610,145	58,917	SH		SOLE		0	58,917	0
NXP SEMICONDUCTORS N V	COM	N6596X109	566,538	3,585	SH		SOLE		0	3,585	0
ORACLE CORP	COM	68389X105	340,139	4,161	SH		SOLE		0	4,161	0
PAYPAL HLDGS INC	COM	70450Y103	427,747	6,006	SH		SOLE		0	6,006	0
PEPSICO INC	COM	713448108	10,282,922	56,918	SH		SOLE		0	56,918	0
PFIZER INC	COM	717081103	11,253,125	219,616	SH		SOLE		0	219,616	0
PHILIP MORRIS INTL INC	COM	718172109	9,521,027	94,072	SH		SOLE		0	94,072	0
PIONEER MUNICIPAL HIGH INCOM	COM	723762100	102,183	12,615	SH		SOLE		0	12,615	0
PROCTER AND GAMBLE CO	COM	742718109	13,779,519	90,917	SH		SOLE		0	90,917	0
PROSHARES TR	ULTRAPRO SHT QQQ	74347G432	399,674	7,400	SH		SOLE		0	7,400	0
QUALCOMM INC	COM	747525103	3,200,788	29,113	SH		SOLE		0	29,113	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	11,524,865	114,198	SH		SOLE		0	114,198	0
REGIONS FINANCIAL CORP NEW	COM	7591EP100	559,676	25,959	SH		SOLE		0	25,959	0
SELECT SECTOR SPDR TR	ENERGY	81369Y506	1,750,275	20,010	SH		SOLE		0	20,010	0
SELECT SECTOR SPDR TR	SBI CONS STPLS	81369Y308	1,415,332	18,985	SH		SOLE		0	18,985	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	2,160,015	15,900	SH		SOLE		0	15,900	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	223,007	2,270	SH		SOLE		0	2,270	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	1,656,821	23,501	SH		SOLE		0	23,501	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	2,620,458	21,058	SH		SOLE		0	21,058	0
SERVICENOW INC	COM	81762P102	2,985,408	7,689	SH		SOLE		0	7,689	0
SKYWORKS SOLUTIONS INC	COM	83088M102	895,039	9,821	SH		SOLE		0	9,821	0
SONY GROUP CORPORATION	SPONSORED ADR	835699307	270,794	3,550	SH		SOLE		0	3,550	0
SOUTHWEST AIRLS CO	COM	844741108	2,267,978	67,359	SH		SOLE		0	67,359	0
SPDR DOW JONES INDL AVERAGE	UT SER 1	78467X109	3,038,296	9,170	SH		SOLE		0	9,170	0
SPDR GOLD TR	GOLD SHS	78463V107	3,787,383	22,326	SH		SOLE		0	22,326	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	429,851	1,124	SH		SOLE		0	1,124	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	211,311	300	SH	Put	SOLE		0	300	0
SPDR SER TR	S&P DIVID ETF	78464A763	2,676,103	21,390	SH		SOLE		0	21,390	0
STARBUCKS CORP	COM	855244109	2,582,795	26,036	SH		SOLE		0	26,036	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	344,516	4,625	SH		SOLE		0	4,625	0
TARGET CORP	COM	87612E106	7,120,672	47,776	SH		SOLE		0	47,776	0
TESLA INC	COM	88160R101	241,679	1,962	SH		SOLE		0	1,962	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	1,200,504	2,180	SH		SOLE		0	2,180	0
TRANSOCEAN LTD	REG SHS	H8817H100	592,800	130,000	SH		SOLE		0	130,000	0
TRANSOCEAN LTD	REG SHS	H8817H100	60,250	500	SH	Call	SOLE		0	500	0
TYSON FOODS INC	CL A	902494103	265,808	4,270	SH		SOLE		0	4,270	0
UNILEVER PLC	SPON ADR NEW	904767704	3,829,039	76,048	SH		SOLE		0	76,048	0
UNION PAC CORP	COM	907818108	3,689,788	17,819	SH		SOLE		0	17,819	0
UNITEDHEALTH GROUP INC	COM	91324P102	22,378,991	42,210	SH		SOLE		0	42,210	0
VALERO ENERGY CORP	COM	91913Y100	3,691,643	29,100	SH		SOLE		0	29,100	0
VANGUARD INDEX FDS	EXTEND MKT ETF	922908652	427,543	3,218	SH		SOLE		0	3,218	0
VANGUARD INDEX FDS	GROWTH ETF	922908736	383,598	1,800	SH		SOLE		0	1,800	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	1,103,854	13,383	SH		SOLE		0	13,383	0
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	270,729	1,350	SH		SOLE		0	1,350	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	280,266	7,190	SH		SOLE		0	7,190	0
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	358,174	6,460	SH		SOLE		0	6,460	0
VANGUARD WORLD FDS	INDUSTRIAL ETF	92204A603	511,942	2,803	SH		SOLE		0	2,803	0
VANGUARD WORLD FDS	MATERIALS ETF	92204A801	1,622,522	9,533	SH		SOLE		0	9,533	0
VERIZON COMMUNICATIONS INC	COM	92343V104	2,599,604	65,979	SH		SOLE		0	65,979	0
VISA INC	COM CL A	92826C839	8,156,900	39,261	SH		SOLE		0	39,261	0
VULCAN MATLS CO	COM	929160109	23,897,474	136,471	SH		SOLE		0	136,471	0
WALMART INC	COM	931142103	1,080,157	7,618	SH		SOLE		0	7,618	0
WELLS FARGO CO NEW	COM	949746101	1,042,729	25,253	SH		SOLE		0	25,253	0
WESTERN ASSET INTER MUNI FD	COM	958435109	88,743	11,692	SH		SOLE		0	11,692	0
WHOLE EARTH BRANDS INC	*W EXP 06/25/202	96684W126	64,909	282,211	SH		SOLE		0	282,211	0
WORLD WRESTLING ENTMT INC	CL A	98156Q108	561,867	8,200	SH		SOLE		0	8,200	0