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	11,727	15,250	SH		SOLE		0	15,250	0
ABBOTT LABS	COM	002824100	3,629,319	35,841	SH		SOLE		0	35,841	0
ABRDN GOLD ETF TRUST	PHYSCL GOLD SHS	00326A104	2,674,841	141,751	SH		SOLE		0	141,751	0
ADAPTIMMUNE THERAPEUTICS PLC	SPONDS ADR	00653A107	11,275	10,344	SH		SOLE		0	10,344	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	4,382,428	11,372	SH		SOLE		0	11,372	0
ALPHABET INC	CAP STK CL C	02079K107	29,890,536	287,409	SH		SOLE		0	287,409	0
ALTRIA GROUP INC	COM	02209S103	1,196,619	26,818	SH		SOLE		0	26,818	0
AMAZON COM INC	COM	023135106	18,395,226	178,093	SH		SOLE		0	178,093	0
AMERICAN EXPRESS CO	COM	025816109	12,992,588	78,766	SH		SOLE		0	78,766	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	2,352,048	16,056	SH		SOLE		0	16,056	0
AMGEN INC	COM	031162100	1,420,590	5,876	SH		SOLE		0	5,876	0
ANALOG DEVICES INC	COM	032654105	10,385,613	52,660	SH		SOLE		0	52,660	0
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	1,027,642	15,400	SH		SOLE		0	15,400	0
APPLE INC	COM	037833100	48,257,486	292,646	SH		SOLE		0	292,646	0
ARCHER DANIELS MIDLAND CO	COM	039483102	493,016	6,189	SH		SOLE		0	6,189	0
AT&T INC	COM	00206R102	2,011,625	104,500	SH		SOLE		0	104,500	0
AUTODESK INC	COM	052769106	4,317,030	20,739	SH		SOLE		0	20,739	0
BANK AMERICA CORP	COM	060505104	251,766	8,803	SH		SOLE		0	8,803	0
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	2,328,000	5	SH		SOLE		0	5	0
BHP GROUP LTD	SPONSORED ADS	088606108	1,233,325	19,450	SH		SOLE		0	19,450	0
BLACKROCK INC	COM	09247X101	12,725,080	19,017	SH		SOLE		0	19,017	0
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	11,562,909	532,362	SH		SOLE		0	532,362	0
BLACKSTONE INC	COM	09260D107	5,132,491	58,430	SH		SOLE		0	58,430	0
BOEING CO	COM	097023105	3,319,219	15,625	SH		SOLE		0	15,625	0
BP PRUDHOE BAY RTY TR	UNIT BEN INT	055630107	137,265	18,085	SH		SOLE		0	18,085	0
BWX TECHNOLOGIES INC	COM	05605H100	738,258	11,710	SH		SOLE		0	11,710	0
CATERPILLAR INC	COM	149123101	4,829,439	21,104	SH		SOLE		0	21,104	0
CHAMPIONX CORPORATION	COM	15872M104	4,732,422	174,435	SH		SOLE		0	174,435	0
CHEVRON CORP NEW	COM	166764100	5,829,006	35,725	SH		SOLE		0	35,725	0
CISCO SYS INC	COM	17275R102	14,962,174	286,220	SH		SOLE		0	286,220	0
CLEVELAND-CLIFFS INC NEW	COM	185899101	219,960	12,000	SH		SOLE		0	12,000	0
COCA COLA CO	COM	191216100	1,317,159	21,234	SH		SOLE		0	21,234	0
COMCAST CORP NEW	CL A	20030N101	256,125	6,756	SH		SOLE		0	6,756	0
CONSTELLATION BRANDS INC	CL A	21036P108	3,013,636	13,341	SH		SOLE		0	13,341	0
CONSTELLATION ENERGY CORP	COM	21037T109	1,229,153	15,658	SH		SOLE		0	15,658	0
COSTCO WHSL CORP NEW	COM	22160K105	8,429,401	16,965	SH		SOLE		0	16,965	0
CVS HEALTH CORP	COM	126650100	3,583,772	48,227	SH		SOLE		0	48,227	0
DEERE & CO	COM	244199105	3,701,897	8,966	SH		SOLE		0	8,966	0
DELTA AIR LINES INC DEL	COM NEW	247361702	1,369,178	39,209	SH		SOLE		0	39,209	0
DIAGEO PLC	SPON ADR NEW	25243Q205	9,583,367	52,894	SH		SOLE		0	52,894	0
DISCOVER FINL SVCS	COM	254709108	388,010	3,925	SH		SOLE		0	3,925	0
DISNEY WALT CO	COM	254687106	5,621,389	56,140	SH		SOLE		0	56,140	0
DOMINION ENERGY INC	COM	25746U109	405,300	7,249	SH		SOLE		0	7,249	0
ELEVANCE HEALTH INC	COM	036752103	4,456,479	9,692	SH		SOLE		0	9,692	0
ENTEGRIS INC	COM	29362U104	3,413,420	41,622	SH		SOLE		0	41,622	0
ENTERGY CORP NEW	COM	29364G103	700,310	6,500	SH		SOLE		0	6,500	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	1,210,825	46,750	SH		SOLE		0	46,750	0
EXELON CORP	COM	30161N101	1,976,502	47,183	SH		SOLE		0	47,183	0
EXXON MOBIL CORP	COM	30231G102	9,638,292	87,892	SH		SOLE		0	87,892	0
FEDEX CORP	COM	31428X106	484,399	2,120	SH		SOLE		0	2,120	0
FIRST TR EXCHANGE-TRADED FD	FST LOW OPPT EFT	33739Q200	409,204	8,548	SH		SOLE		0	8,548	0
FIRST TR MTG INCOME FD	COM SHS	33734E103	123,760	10,904	SH		SOLE		0	10,904	0
FORD MTR CO DEL	COM	345370860	732,866	58,164	SH		SOLE		0	58,164	0
GE HEALTHCARE TECHNOLOGIES I	COMMON STOCK	36266G107	2,885,241	35,173	SH		SOLE		0	35,173	0
GENERAL DYNAMICS CORP	COM	369550108	6,324,007	27,711	SH		SOLE		0	27,711	0
GENERAL MTRS CO	COM	37045V100	5,180,002	141,221	SH		SOLE		0	141,221	0
GOLDMAN SACHS GROUP INC	COM	38141G104	11,723,843	35,840	SH		SOLE		0	35,840	0
HCA HEALTHCARE INC	COM	40412C101	10,098,992	38,300	SH		SOLE		0	38,300	0
HF SINCLAIR CORP	COM	403949100	1,424,791	29,450	SH		SOLE		0	29,450	0
HOME DEPOT INC	COM	437076102	15,092,507	51,140	SH		SOLE		0	51,140	0
HUNT J B TRANS SVCS INC	COM	445658107	3,092,310	17,624	SH		SOLE		0	17,624	0
INTEL CORP	COM	458140100	1,076,156	32,940	SH		SOLE		0	32,940	0
INVESCO EXCH TRADED FD TR II	PFD ETF	46138E511	596,960	52,000	SH		SOLE		0	52,000	0
INVESCO QQQ TR	UNIT SER 1	46090E103	3,211,867	10,008	SH		SOLE		0	10,008	0
ISHARES GOLD TR	ISHARES NEW	464285204	25,315,895	677,439	SH		SOLE		0	677,439	0
ISHARES TR	CORE S&P MCP ETF	464287507	522,834	2,090	SH		SOLE		0	2,090	0
ISHARES TR	CORE S&P SCP ETF	464287804	1,841,562	19,044	SH		SOLE		0	19,044	0
ISHARES TR	CORE S&P500 ETF	464287200	55,654,643	135,386	SH		SOLE		0	135,386	0
ISHARES TR	GRWT ALLOCAT ETF	464289867	210,126	4,200	SH		SOLE		0	4,200	0
ISHARES TR	MSCI EMG MKT ETF	464287234	483,385	12,250	SH		SOLE		0	12,250	0
ISHARES TR	RUS 1000 GRW ETF	464287614	6,499,911	26,603	SH		SOLE		0	26,603	0
ISHARES TR	RUS MID CAP ETF	464287499	716,470	10,247	SH		SOLE		0	10,247	0
ISHARES TR	RUSSELL 2000 ETF	464287655	576,232	3,230	SH		SOLE		0	3,230	0
ISHARES TR	S&P 500 GRWT ETF	464287309	3,577,840	56,000	SH		SOLE		0	56,000	0
ISHARES TR	S&P 500 VAL ETF	464287408	13,329,081	87,830	SH		SOLE		0	87,830	0
ISHARES TR	S&P MC 400VL ETF	464287705	256,925	2,500	SH		SOLE		0	2,500	0
ISHARES TR	SELECT DIVID ETF	464287168	2,854,388	24,359	SH		SOLE		0	24,359	0
ISHARES TR	SP SMCP600VL ETF	464287879	237,133	2,533	SH		SOLE		0	2,533	0
ISHARES TR	U.S. ENERGY ETF	464287796	386,094	8,825	SH		SOLE		0	8,825	0
ISHARES TR	US AER DEF ETF	464288760	455,717	3,960	SH		SOLE		0	3,960	0
ISHARES TR	US HLTHCARE ETF	464287762	204,795	750	SH		SOLE		0	750	0
JOHNSON & JOHNSON	COM	478160104	12,023,799	77,572	SH		SOLE		0	77,572	0
JPMORGAN CHASE & CO	COM	46625H100	17,101,772	131,239	SH		SOLE		0	131,239	0
KINDER MORGAN INC DEL	COM	49456B101	2,651,014	151,400	SH		SOLE		0	151,400	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	7,964,240	40,584	SH		SOLE		0	40,584	0
LIBERTY MEDIA CORP DEL	COM C BRAVES GRP	531229888	586,846	17,419	SH		SOLE		0	17,419	0
LILLY ELI & CO	COM	532457108	8,930,984	26,006	SH		SOLE		0	26,006	0
LOCKHEED MARTIN CORP	COM	539830109	7,093,310	15,004	SH		SOLE		0	15,004	0
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	1,894,976	34,924	SH		SOLE		0	34,924	0
MERCK & CO INC	COM	58933Y105	6,399,584	60,152	SH		SOLE		0	60,152	0
META PLATFORMS INC	CL A	30303M102	4,187,087	19,756	SH		SOLE		0	19,756	0
MICRON TECHNOLOGY INC	COM	595112103	687,220	11,389	SH		SOLE		0	11,389	0
MICROSOFT CORP	COM	594918104	45,578,795	158,095	SH		SOLE		0	158,095	0
MOLSON COORS BEVERAGE CO	CL B	60871R209	1,315,773	25,460	SH		SOLE		0	25,460	0
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	8,400,096	192,353	SH		SOLE		0	192,353	0
NEXTERA ENERGY INC	COM	65339F101	11,331,521	147,009	SH		SOLE		0	147,009	0
NIKE INC	CL B	654106103	1,737,051	14,163	SH		SOLE		0	14,163	0
NORTHROP GRUMMAN CORP	COM	666807102	9,116,907	19,745	SH		SOLE		0	19,745	0
NOV INC	COM	62955J103	5,896,713	318,569	SH		SOLE		0	318,569	0
NOVARTIS AG	SPONSORED ADR	66987V109	5,075,916	55,173	SH		SOLE		0	55,173	0
NUVEEN CORPORATE INCOME 2023	COM	67079F101	190,215	20,698	SH		SOLE		0	20,698	0
NUVEEN GEORGIA QLTY MUN INC	COM	67072B107	343,549	33,780	SH		SOLE		0	33,780	0
NUVEEN MUN VALUE FD INC	COM	670928100	95,809	10,875	SH		SOLE		0	10,875	0
NUVEEN NEW JERSEY QULT MUN F	COM	67069Y102	153,269	13,088	SH		SOLE		0	13,088	0
NUVEEN NEW YORK AMT QLT MUNI	COM	670656107	759,595	71,863	SH		SOLE		0	71,863	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	92,300	10,000	SH		SOLE		0	10,000	0
NVIDIA CORPORATION	COM	67066G104	14,468,792	52,089	SH		SOLE		0	52,089	0
NXP SEMICONDUCTORS N V	COM	N6596X109	891,351	4,780	SH		SOLE		0	4,780	0
ORACLE CORP	COM	68389X105	395,870	4,260	SH		SOLE		0	4,260	0
PAYPAL HLDGS INC	COM	70450Y103	256,981	3,384	SH		SOLE		0	3,384	0
PEPSICO INC	COM	713448108	9,210,295	50,522	SH		SOLE		0	50,522	0
PFIZER INC	COM	717081103	7,802,978	191,249	SH		SOLE		0	191,249	0
PHILIP MORRIS INTL INC	COM	718172109	10,323,185	106,151	SH		SOLE		0	106,151	0
PIONEER MUNICIPAL HIGH INCOM	COM	723762100	95,311	11,580	SH		SOLE		0	11,580	0
PROCTER AND GAMBLE CO	COM	742718109	12,582,789	84,624	SH		SOLE		0	84,624	0
PROSHARES TR	ULTRAPRO SHT QQQ	74347G432	645,920	22,000	SH		SOLE		0	22,000	0
QORVO INC	COM	74736K101	211,266	2,080	SH		SOLE		0	2,080	0
QUALCOMM INC	COM	747525103	3,747,972	29,377	SH		SOLE		0	29,377	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	12,718,670	129,875	SH		SOLE		0	129,875	0
REGIONS FINANCIAL CORP NEW	COM	7591EP100	418,008	22,522	SH		SOLE		0	22,522	0
REGIONS FINANCIAL CORP NEW	COM	7591EP100	100	20	SH	Call	SOLE		0	20	0
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	217,831	4,552	SH		SOLE		0	4,552	0
SELECT SECTOR SPDR TR	ENERGY	81369Y506	1,657,428	20,010	SH		SOLE		0	20,010	0
SELECT SECTOR SPDR TR	SBI CONS STPLS	81369Y308	1,437,196	19,237	SH		SOLE		0	19,237	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	2,057,119	15,890	SH		SOLE		0	15,890	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	210,083	2,076	SH		SOLE		0	2,076	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	1,608,044	23,756	SH		SOLE		0	23,756	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	3,179,969	21,058	SH		SOLE		0	21,058	0
SERVICENOW INC	COM	81762P102	3,367,361	7,246	SH		SOLE		0	7,246	0
SKYWORKS SOLUTIONS INC	COM	83088M102	1,150,031	9,747	SH		SOLE		0	9,747	0
SONY GROUP CORPORATION	SPONSORED ADR	835699307	276,483	3,050	SH		SOLE		0	3,050	0
SOUTHWEST AIRLS CO	COM	844741108	2,040,409	62,704	SH		SOLE		0	62,704	0
SPDR DOW JONES INDL AVERAGE	UT SER 1	78467X109	3,411,018	10,255	SH		SOLE		0	10,255	0
SPDR GOLD TR	GOLD SHS	78463V107	4,090,570	22,326	SH		SOLE		0	22,326	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	460,154	1,124	SH		SOLE		0	1,124	0
SPDR SER TR	S&P DIVID ETF	78464A763	2,630,075	21,260	SH		SOLE		0	21,260	0
STARBUCKS CORP	COM	855244109	2,678,149	25,719	SH		SOLE		0	25,719	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	430,218	4,625	SH		SOLE		0	4,625	0
TARGET CORP	COM	87612E106	7,526,285	45,440	SH		SOLE		0	45,440	0
TESLA INC	COM	88160R101	415,957	2,005	SH		SOLE		0	2,005	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	1,138,907	1,976	SH		SOLE		0	1,976	0
T-MOBILE US INC	COM	872590104	2,897,235	20,003	SH		SOLE		0	20,003	0
TRANSOCEAN LTD	REG SHS	H8817H100	699,600	110,000	SH		SOLE		0	110,000	0
TRANSOCEAN LTD	REG SHS	H8817H100	114,000	500	SH	Call	SOLE		0	500	0
TYSON FOODS INC	CL A	902494103	233,424	3,935	SH		SOLE		0	3,935	0
UNILEVER PLC	SPON ADR NEW	904767704	5,158,804	99,341	SH		SOLE		0	99,341	0
UNION PAC CORP	COM	907818108	1,672,075	8,308	SH		SOLE		0	8,308	0
UNITEDHEALTH GROUP INC	COM	91324P102	20,468,037	43,310	SH		SOLE		0	43,310	0
VALERO ENERGY CORP	COM	91913Y100	6,791,132	48,647	SH		SOLE		0	48,647	0
VANGUARD INDEX FDS	EXTEND MKT ETF	922908652	451,164	3,218	SH		SOLE		0	3,218	0
VANGUARD INDEX FDS	GROWTH ETF	922908736	448,992	1,800	SH		SOLE		0	1,800	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	1,255,012	15,113	SH		SOLE		0	15,113	0
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	292,154	1,350	SH		SOLE		0	1,350	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	290,476	7,190	SH		SOLE		0	7,190	0
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	393,786	6,460	SH		SOLE		0	6,460	0
VANGUARD WORLD FDS	INDUSTRIAL ETF	92204A603	533,428	2,800	SH		SOLE		0	2,800	0
VANGUARD WORLD FDS	MATERIALS ETF	92204A801	1,706,902	9,599	SH		SOLE		0	9,599	0
VERIZON COMMUNICATIONS INC	COM	92343V104	2,308,204	59,352	SH		SOLE		0	59,352	0
VISA INC	COM CL A	92826C839	7,567,095	33,562	SH		SOLE		0	33,562	0
VULCAN MATLS CO	COM	929160109	23,066,784	134,453	SH		SOLE		0	134,453	0
WALMART INC	COM	931142103	1,093,490	7,416	SH		SOLE		0	7,416	0
WELLS FARGO CO NEW	COM	949746101	1,076,585	28,801	SH		SOLE		0	28,801	0
WESTERN ASSET INTER MUNI FD	COM	958435109	92,504	11,699	SH		SOLE		0	11,699	0
WHOLE EARTH BRANDS INC	*W EXP 06/25/202	96684W126	23,065	281,277	SH		SOLE		0	281,277	0