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
ABBOTT LABS	COM	002824100	3,414,799	31,323	SH		SOLE		0	0	31,323
ABRDN GOLD ETF TRUST	PHYSCL GOLD SHS	00326A104	2,603,047	141,701	SH		SOLE		0	0	141,701
ADAPTIMMUNE THERAPEUTICS PLC	SPONDS ADR	00653A107	9,568	10,344	SH		SOLE		0	0	10,344
ADOBE SYSTEMS INCORPORATED	COM	00724F101	7,864,426	16,083	SH		SOLE		0	0	16,083
ALPHABET INC	CAP STK CL A	02079K305	210,672	1,760	SH		SOLE		0	0	1,760
ALPHABET INC	CAP STK CL C	02079K107	33,967,892	280,796	SH		SOLE		0	0	280,796
ALTRIA GROUP INC	COM	02209S103	1,215,308	26,828	SH		SOLE		0	0	26,828
AMAZON COM INC	COM	023135106	23,464,018	179,994	SH		SOLE		0	0	179,994
AMERICAN EXPRESS CO	COM	025816109	14,048,891	80,648	SH		SOLE		0	0	80,648
AMERICAN WTR WKS CO INC NEW	COM	030420103	1,806,651	12,656	SH		SOLE		0	0	12,656
AMGEN INC	COM	031162100	1,284,230	5,784	SH		SOLE		0	0	5,784
ANALOG DEVICES INC	COM	032654105	9,251,930	47,492	SH		SOLE		0	0	47,492
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	363,008	6,400	SH		SOLE		0	0	6,400
APPLE INC	COM	037833100	55,157,407	284,361	SH		SOLE		0	0	284,361
ARCHER DANIELS MIDLAND CO	COM	039483102	237,032	3,137	SH		SOLE		0	0	3,137
AT&T INC	COM	00206R102	1,491,325	93,500	SH		SOLE		0	0	93,500
AUTODESK INC	COM	052769106	1,583,886	7,741	SH		SOLE		0	0	7,741
BANK AMERICA CORP	COM	060505104	252,560	8,803	SH		SOLE		0	0	8,803
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	2,589,050	5	SH		SOLE		0	0	5
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	200,167	587	SH		SOLE		0	0	587
BHP GROUP LTD	SPONSORED ADS	088606108	1,160,582	19,450	SH		SOLE		0	0	19,450
BLACKROCK INC	COM	09247X101	12,723,679	18,410	SH		SOLE		0	0	18,410
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	10,939,534	526,445	SH		SOLE		0	0	526,445
BLACKSTONE INC	COM	09260D107	5,407,786	58,167	SH		SOLE		0	0	58,167
BOEING CO	COM	097023105	3,299,375	15,625	SH		SOLE		0	0	15,625
BP PRUDHOE BAY RTY TR	UNIT BEN INT	055630107	56,447	12,406	SH		SOLE		0	0	12,406
BWX TECHNOLOGIES INC	COM	05605H100	2,762,761	38,602	SH		SOLE		0	0	38,602
CANADIAN PACIFIC KANSAS CITY	COM	13646K108	3,338,224	41,330	SH		SOLE		0	0	41,330
CATERPILLAR INC	COM	149123101	5,736,656	23,315	SH		SOLE		0	0	23,315
CHAMPIONX CORPORATION	COM	15872M104	5,507,520	177,433	SH		SOLE		0	0	177,433
CHEVRON CORP NEW	COM	166764100	5,622,455	35,732	SH		SOLE		0	0	35,732
CISCO SYS INC	COM	17275R102	13,902,294	268,695	SH		SOLE		0	0	268,695
COCA COLA CO	COM	191216100	664,730	11,038	SH		SOLE		0	0	11,038
COMCAST CORP NEW	CL A	20030N101	280,719	6,756	SH		SOLE		0	0	6,756
CONSTELLATION BRANDS INC	CL A	21036P108	3,503,216	14,233	SH		SOLE		0	0	14,233
CONSTELLATION ENERGY CORP	COM	21037T109	1,433,490	15,658	SH		SOLE		0	0	15,658
COSTCO WHSL CORP NEW	COM	22160K105	8,894,580	16,521	SH		SOLE		0	0	16,521
CVS HEALTH CORP	COM	126650100	4,087,820	59,132	SH		SOLE		0	0	59,132
DEERE & CO	COM	244199105	4,568,133	11,274	SH		SOLE		0	0	11,274
DELTA AIR LINES INC DEL	COM NEW	247361702	1,768,916	37,209	SH		SOLE		0	0	37,209
DIAGEO PLC	SPON ADR NEW	25243Q205	9,060,582	52,228	SH		SOLE		0	0	52,228
DISCOVER FINL SVCS	COM	254709108	1,293,836	11,073	SH		SOLE		0	0	11,073
DISNEY WALT CO	COM	254687106	6,174,864	69,163	SH		SOLE		0	0	69,163
DOMINION ENERGY INC	COM	25746U109	323,800	6,252	SH		SOLE		0	0	6,252
ELEVANCE HEALTH INC	COM	036752103	4,261,630	9,592	SH		SOLE		0	0	9,592
ENTEGRIS INC	COM	29362U104	4,687,797	42,301	SH		SOLE		0	0	42,301
ENTERGY CORP NEW	COM	29364G103	632,905	6,500	SH		SOLE		0	0	6,500
ENTERPRISE PRODS PARTNERS L	COM	293792107	859,010	32,600	SH		SOLE		0	0	32,600
EXELON CORP	COM	30161N101	1,922,242	47,183	SH		SOLE		0	0	47,183
EXXON MOBIL CORP	COM	30231G102	9,021,233	84,114	SH		SOLE		0	0	84,114
FEDEX CORP	COM	31428X106	525,548	2,120	SH		SOLE		0	0	2,120
FIRST TR EXCHANGE-TRADED FD	FST LOW OPPT EFT	33739Q200	448,403	9,406	SH		SOLE		0	0	9,406
FIRST TR MTG INCOME FD	COM SHS	33734E103	283,266	25,405	SH		SOLE		0	0	25,405
FORD MTR CO DEL	COM	345370860	880,021	58,164	SH		SOLE		0	0	58,164
GE HEALTHCARE TECHNOLOGIES I	COMMON STOCK	36266G107	505,150	6,218	SH		SOLE		0	0	6,218
GENERAL DYNAMICS CORP	COM	369550108	5,542,989	25,763	SH		SOLE		0	0	25,763
GENERAL MTRS CO	COM	37045V100	5,840,513	151,466	SH		SOLE		0	0	151,466
GOLDMAN SACHS GROUP INC	COM	38141G104	11,633,314	36,068	SH		SOLE		0	0	36,068
HCA HEALTHCARE INC	COM	40412C101	8,406,159	27,699	SH		SOLE		0	0	27,699
HF SINCLAIR CORP	COM	403949100	1,313,765	29,450	SH		SOLE		0	0	29,450
HOME DEPOT INC	COM	437076102	15,133,956	48,719	SH		SOLE		0	0	48,719
HUNT J B TRANS SVCS INC	COM	445658107	1,891,768	10,450	SH		SOLE		0	0	10,450
INTEL CORP	COM	458140100	1,014,610	30,341	SH		SOLE		0	0	30,341
INVESCO EXCH TRADED FD TR II	PFD ETF	46138E511	591,240	52,000	SH		SOLE		0	0	52,000
INVESCO QQQ TR	UNIT SER 1	46090E103	3,683,117	9,970	SH		SOLE		0	0	9,970
ISHARES GOLD TR	ISHARES NEW	464285204	23,711,578	651,596	SH		SOLE		0	0	651,596
ISHARES TR	CORE S&P MCP ETF	464287507	724,300	2,770	SH		SOLE		0	0	2,770
ISHARES TR	CORE S&P SCP ETF	464287804	2,071,380	20,787	SH		SOLE		0	0	20,787
ISHARES TR	CORE S&P500 ETF	464287200	62,207,644	139,570	SH		SOLE		0	0	139,570
ISHARES TR	GRWT ALLOCAT ETF	464289867	216,090	4,200	SH		SOLE		0	0	4,200
ISHARES TR	MSCI EMG MKT ETF	464287234	484,610	12,250	SH		SOLE		0	0	12,250
ISHARES TR	RUS 1000 GRW ETF	464287614	7,815,938	28,403	SH		SOLE		0	0	28,403
ISHARES TR	RUS MID CAP ETF	464287499	748,338	10,247	SH		SOLE		0	0	10,247
ISHARES TR	RUSSELL 2000 ETF	464287655	604,882	3,230	SH		SOLE		0	0	3,230
ISHARES TR	S&P 500 GRWT ETF	464287309	3,946,880	56,000	SH		SOLE		0	0	56,000
ISHARES TR	S&P 500 VAL ETF	464287408	14,157,318	87,830	SH		SOLE		0	0	87,830
ISHARES TR	S&P MC 400VL ETF	464287705	741,875	6,925	SH		SOLE		0	0	6,925
ISHARES TR	SELECT DIVID ETF	464287168	2,923,027	25,799	SH		SOLE		0	0	25,799
ISHARES TR	SP SMCP600VL ETF	464287879	239,228	2,516	SH		SOLE		0	0	2,516
ISHARES TR	U.S. ENERGY ETF	464287796	378,063	8,825	SH		SOLE		0	0	8,825
ISHARES TR	US AER DEF ETF	464288760	228,673	1,960	SH		SOLE		0	0	1,960
ISHARES TR	US HLTHCARE ETF	464287762	210,189	750	SH		SOLE		0	0	750
JOHNSON & JOHNSON	COM	478160104	14,075,286	85,037	SH		SOLE		0	0	85,037
JPMORGAN CHASE & CO	COM	46625H100	18,350,004	126,169	SH		SOLE		0	0	126,169
KINDER MORGAN INC DEL	COM	49456B101	2,607,108	151,400	SH		SOLE		0	0	151,400
KROGER CO	COM	501044101	373,839	7,954	SH		SOLE		0	0	7,954
L3HARRIS TECHNOLOGIES INC	COM	502431109	8,106,485	41,408	SH		SOLE		0	0	41,408
LILLY ELI & CO	COM	532457108	10,350,866	22,071	SH		SOLE		0	0	22,071
LOCKHEED MARTIN CORP	COM	539830109	6,908,020	15,005	SH		SOLE		0	0	15,005
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	2,176,464	34,924	SH		SOLE		0	0	34,924
MERCK & CO INC	COM	58933Y105	6,260,177	54,252	SH		SOLE		0	0	54,252
META PLATFORMS INC	CL A	30303M102	6,209,099	21,636	SH		SOLE		0	0	21,636
MICRON TECHNOLOGY INC	COM	595112103	714,225	11,317	SH		SOLE		0	0	11,317
MICROSOFT CORP	COM	594918104	52,145,917	153,127	SH		SOLE		0	0	153,127
MOLSON COORS BEVERAGE CO	CL B	60871R209	1,643,366	24,960	SH		SOLE		0	0	24,960
NEXPOINT RESIDENTIAL TR INC	COM	65341D102	6,630,814	145,796	SH		SOLE		0	0	145,796
NEXTERA ENERGY INC	COM	65339F101	11,852,246	159,734	SH		SOLE		0	0	159,734
NIKE INC	CL B	654106103	1,460,844	13,236	SH		SOLE		0	0	13,236
NORTHROP GRUMMAN CORP	COM	666807102	8,866,049	19,452	SH		SOLE		0	0	19,452
NOV INC	COM	62955J103	4,707,292	293,472	SH		SOLE		0	0	293,472
NOVARTIS AG	SPONSORED ADR	66987V109	5,539,454	54,895	SH		SOLE		0	0	54,895
NUVEEN CORPORATE INCOME 2023	COM	67079F101	193,227	20,666	SH		SOLE		0	0	20,666
NUVEEN MUNICIPAL CREDIT INC	COM SH BEN INT	67070X101	444,038	38,082	SH		SOLE		0	0	38,082
NUVEEN NEW JERSEY QULT MUN F	COM	67069Y102	135,220	11,789	SH		SOLE		0	0	11,789
NUVEEN NEW YORK AMT QLT MUNI	COM	670656107	742,267	71,717	SH		SOLE		0	0	71,717
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	90,000	10,000	SH		SOLE		0	0	10,000
NVIDIA CORPORATION	COM	67066G104	23,803,804	56,271	SH		SOLE		0	0	56,271
NXP SEMICONDUCTORS N V	COM	N6596X109	978,370	4,780	SH		SOLE		0	0	4,780
ORACLE CORP	COM	68389X105	515,830	4,331	SH		SOLE		0	0	4,331
PAYPAL HLDGS INC	COM	70450Y103	1,068,481	16,012	SH		SOLE		0	0	16,012
PEPSICO INC	COM	713448108	8,869,420	47,886	SH		SOLE		0	0	47,886
PERIMETER SOLUTIONS SA	COMMON STOCK	L7579L106	74,489	12,112	SH		SOLE		0	0	12,112
PFIZER INC	COM	717081103	6,575,980	179,280	SH		SOLE		0	0	179,280
PHILIP MORRIS INTL INC	COM	718172109	10,575,088	108,329	SH		SOLE		0	0	108,329
PIONEER MUNICIPAL HIGH INCOM	COM	723762100	86,993	11,012	SH		SOLE		0	0	11,012
PROCTER AND GAMBLE CO	COM	742718109	12,718,820	83,820	SH		SOLE		0	0	83,820
PROSHARES TR	S&P 500 DV ARIST	74348A467	329,980	3,500	SH		SOLE		0	0	3,500
PROSHARES TR	S&P TECH DIVIDEN	74347G606	529,417	7,990	SH		SOLE		0	0	7,990
PROSHARES TR	ULTRAPRO SHT QQQ	74347G432	416,020	22,000	SH		SOLE		0	0	22,000
QORVO INC	COM	74736K101	212,222	2,080	SH		SOLE		0	0	2,080
QUALCOMM INC	COM	747525103	4,272,148	35,888	SH		SOLE		0	0	35,888
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	12,805,353	130,720	SH		SOLE		0	0	130,720
RESMED INC	COM	761152107	1,981,358	9,068	SH		SOLE		0	0	9,068
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	232,443	4,496	SH		SOLE		0	0	4,496
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	1,001,139	13,786	SH		SOLE		0	0	13,786
SELECT SECTOR SPDR TR	ENERGY	81369Y506	864,785	10,654	SH		SOLE		0	0	10,654
SELECT SECTOR SPDR TR	SBI CONS STPLS	81369Y308	809,343	10,912	SH		SOLE		0	0	10,912
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	1,087,059	8,190	SH		SOLE		0	0	8,190
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	206,591	1,925	SH		SOLE		0	0	1,925
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	906,737	13,856	SH		SOLE		0	0	13,856
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	3,659,579	21,049	SH		SOLE		0	0	21,049
SERVICENOW INC	COM	81762P102	3,834,321	6,823	SH		SOLE		0	0	6,823
SKYWORKS SOLUTIONS INC	COM	83088M102	798,718	7,216	SH		SOLE		0	0	7,216
SONY GROUP CORPORATION	SPONSORED ADR	835699307	274,622	3,050	SH		SOLE		0	0	3,050
SOUTHWEST AIRLS CO	COM	844741108	1,589,568	43,899	SH		SOLE		0	0	43,899
SPDR DOW JONES INDL AVERAGE	UT SER 1	78467X109	3,809,858	11,080	SH		SOLE		0	0	11,080
SPDR GOLD TR	GOLD SHS	78463V107	1,873,618	10,510	SH		SOLE		0	0	10,510
SPDR S&P 500 ETF TR	TR UNIT	78462F103	498,247	1,124	SH		SOLE		0	0	1,124
SPDR SER TR	S&P DIVID ETF	78464A763	2,580,922	21,055	SH		SOLE		0	0	21,055
STARBUCKS CORP	COM	855244109	2,535,077	25,591	SH		SOLE		0	0	25,591
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	466,755	4,625	SH		SOLE		0	0	4,625
TARGET CORP	COM	87612E106	4,562,513	34,591	SH		SOLE		0	0	34,591
TESLA INC	COM	88160R101	539,246	2,060	SH		SOLE		0	0	2,060
THERMO FISHER SCIENTIFIC INC	COM	883556102	2,129,784	4,082	SH		SOLE		0	0	4,082
T-MOBILE US INC	COM	872590104	5,240,558	37,729	SH		SOLE		0	0	37,729
TRANSOCEAN LTD	REG SHS	H8817H100	771,100	110,000	SH		SOLE		0	0	110,000
TRANSOCEAN LTD	REG SHS	H8817H100	123,305	50,000	SH	Call	SOLE		0	0	50,000
TYSON FOODS INC	CL A	902494103	200,842	3,935	SH		SOLE		0	0	3,935
UNILEVER PLC	SPON ADR NEW	904767704	3,758,915	72,107	SH		SOLE		0	0	72,107
UNION PAC CORP	COM	907818108	544,096	2,659	SH		SOLE		0	0	2,659
UNITEDHEALTH GROUP INC	COM	91324P102	21,200,331	44,109	SH		SOLE		0	0	44,109
VALERO ENERGY CORP	COM	91913Y100	6,548,715	55,829	SH		SOLE		0	0	55,829
VANGUARD INDEX FDS	EXTEND MKT ETF	922908652	475,661	3,196	SH		SOLE		0	0	3,196
VANGUARD INDEX FDS	GROWTH ETF	922908736	509,328	1,800	SH		SOLE		0	0	1,800
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	681,711	8,158	SH		SOLE		0	0	8,158
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	310,149	1,350	SH		SOLE		0	0	1,350
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	292,489	7,190	SH		SOLE		0	0	7,190
VANGUARD INTL EQUITY INDEX F	FTSE EUROPE ETF	922042874	398,700	6,462	SH		SOLE		0	0	6,462
VANGUARD SCOTTSDALE FDS	VNG RUS1000IDX	92206C730	203,777	1,011	SH		SOLE		0	0	1,011
VANGUARD WORLD FDS	INDUSTRIAL ETF	92204A603	575,484	2,800	SH		SOLE		0	0	2,800
VANGUARD WORLD FDS	MATERIALS ETF	92204A801	1,265,973	6,957	SH		SOLE		0	0	6,957
VERIZON COMMUNICATIONS INC	COM	92343V104	1,188,015	31,944	SH		SOLE		0	0	31,944
VISA INC	COM CL A	92826C839	6,786,628	28,578	SH		SOLE		0	0	28,578
VULCAN MATLS CO	COM	929160109	30,396,119	134,830	SH		SOLE		0	0	134,830
WALMART INC	COM	931142103	1,219,247	7,757	SH		SOLE		0	0	7,757
WELLS FARGO CO NEW	COM	949746101	1,336,116	31,305	SH		SOLE		0	0	31,305
WESTERN ASSET INTER MUNI FD	COM	958435109	88,450	11,608	SH		SOLE		0	0	11,608
WHOLE EARTH BRANDS INC	*W EXP 06/25/202	96684W126	56,284	281,277	SH		SOLE		0	0	281,277
WISDOMTREE TR	US QTLY DIV GRT	97717X669	1,701,830	25,530	SH		SOLE		0	0	25,530
WORLD WRESTLING ENTMT INC	CL A	98156Q108	236,470	2,180	SH		SOLE		0	0	2,180