# EDGAR Filing Document

**Accession Number:** 0001461287
**File Stem:** 0001085146-23-000479
**Filing Date:** 2023-1
**Character Count:** 21558
**Document Hash:** d0b9a5af6f6d039475d1174dea269484
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-000479.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001085146-23-000479

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230130

**EFFECTIVENESS DATE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Narwhal Capital Management
- **CENTRAL INDEX KEY:** 0001461287
- **IRS NUMBER:** 202969572
- **STATE OF INCORPORATION:** GA
- **FISCAL YEAR END:** 1208

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13509
- **FILM NUMBER:** 23569879

**BUSINESS ADDRESS:**
- **STREET 1:** 531 ROSELANE STREET
- **STREET 2:** SUITE 420
- **CITY:** MARIETTA
- **STATE:** GA
- **ZIP:** 30060
- **BUSINESS PHONE:** 770-344-0172

**MAIL ADDRESS:**
- **STREET 1:** 531 ROSELANE STREET
- **STREET 2:** SUITE 420
- **CITY:** MARIETTA
- **STATE:** GA
- **ZIP:** 30060

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Narwhal Capital Management<br>**Address:** 531 ROSELANE STREET<br>SUITE 420<br>MARIETTA, GA 30060

**Form 13F File Number:** 028-13509

**CRD Number (if applicable):** 000135958

**SEC File Number (if applicable):** 801-66563

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jonathan Hicks<br>**Title:** Chief Compliance Officer<br>**Phone:** 770-344-0172

**Signature, Place, and Date of Signing:**

/s/ Jonathan Hicks  Marietta, GA  01-30-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 161

**Form 13F Information Table Value Total:** $751882075

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 22ND CENTY GROUP INC | COM | 90137F103 | BBG001SQ4DP9 | 14038 | 15250 | SH |  | SOLE |  | 0 | 15250 | 0 |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 3994213 | 36380 | SH |  | SOLE |  | 0 | 36380 | 0 |
| ABRDN GOLD ETF TRUST | PHYSCL GOLD SHS | 00326A104 | BBG001SCTFP8 | 2432645 | 139247 | SH |  | SOLE |  | 0 | 139247 | 0 |
| ADAPTIMMUNE THERAPEUTICS PLC | SPONDS ADR | 00653A107 | BBG008G65WD1 | 15102 | 10344 | SH |  | SOLE |  | 0 | 10344 | 0 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 | BBG001S5NCQ5 | 4176001 | 12409 | SH |  | SOLE |  | 0 | 12409 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 25071016 | 282554 | SH |  | SOLE |  | 0 | 282554 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 | BBG001S5T8T5 | 1225851 | 26818 | SH |  | SOLE |  | 0 | 26818 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 14872200 | 177050 | SH |  | SOLE |  | 0 | 177050 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 11792468 | 79813 | SH |  | SOLE |  | 0 | 79813 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 | BBG001SPHYW3 | 2155982 | 14145 | SH |  | SOLE |  | 0 | 14145 | 0 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 1546804 | 5889 | SH |  | SOLE |  | 0 | 5889 | 0 |
| ANALOG DEVICES INC | COM | 032654105 | BBG001S5ND38 | 8329443 | 50780 | SH |  | SOLE |  | 0 | 50780 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 | BBG001T53FW2 | 925517 | 15415 | SH |  | SOLE |  | 0 | 15415 | 0 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 37973376 | 292260 | SH |  | SOLE |  | 0 | 292260 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 | BBG001S5ND74 | 675484 | 7275 | SH |  | SOLE |  | 0 | 7275 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 1930325 | 104852 | SH |  | SOLE |  | 0 | 104852 | 0 |
| AUTODESK INC | COM | 052769106 | BBG001S5SCD4 | 4206257 | 22509 | SH |  | SOLE |  | 0 | 22509 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 291555 | 8803 | SH |  | SOLE |  | 0 | 8803 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | BBG001S902J2 | 2343555 | 5 | SH |  | SOLE |  | 0 | 5 | 0 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 | BBG001S5P5K4 | 1206873 | 19450 | SH |  | SOLE |  | 0 | 19450 | 0 |
| BLACKROCK INC | COM | 09247X101 | BBG001SDBP55 | 13881048 | 19588 | SH |  | SOLE |  | 0 | 19588 | 0 |
| BLACKROCK MUN TARGET TERM TR | COM SHS BEN IN | 09257P105 | BBG003BPM0W5 | 11326072 | 531990 | SH |  | SOLE |  | 0 | 531990 | 0 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 4333586 | 58412 | SH |  | SOLE |  | 0 | 58412 | 0 |
| BOEING CO | COM | 097023105 | BBG001S5P0V3 | 2992026 | 15707 | SH |  | SOLE |  | 0 | 15707 | 0 |
| BP PRUDHOE BAY RTY TR | UNIT BEN INT | 055630107 | BBG001S63MV7 | 529444 | 45524 | SH |  | SOLE |  | 0 | 45524 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 | BBG001SGJPH7 | 680851 | 11722 | SH |  | SOLE |  | 0 | 11722 | 0 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 5038427 | 21032 | SH |  | SOLE |  | 0 | 21032 | 0 |
| CHAMPIONX CORPORATION | COM | 15872M104 | BBG00JH9V005 | 4417844 | 152392 | SH |  | SOLE |  | 0 | 152392 | 0 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 6423635 | 35788 | SH |  | SOLE |  | 0 | 35788 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 | BBG001S5PTM0 | 310054 | 3028 | SH |  | SOLE |  | 0 | 3028 | 0 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 13414952 | 281590 | SH |  | SOLE |  | 0 | 281590 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 | BBG001S5PW43 | 193320 | 12000 | SH |  | SOLE |  | 0 | 12000 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 1217956 | 19147 | SH |  | SOLE |  | 0 | 19147 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 266649 | 7625 | SH |  | SOLE |  | 0 | 7625 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 | BBG001SD31G5 | 3244764 | 14001 | SH |  | SOLE |  | 0 | 14001 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 | BBG014KFRPJ9 | 1349876 | 15658 | SH |  | SOLE |  | 0 | 15658 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 7296240 | 15983 | SH |  | SOLE |  | 0 | 15983 | 0 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 4584038 | 49190 | SH |  | SOLE |  | 0 | 49190 | 0 |
| DEERE  CO | COM | 244199105 | BBG001S5QFF7 | 2182399 | 5090 | SH |  | SOLE |  | 0 | 5090 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 | BBG001SPT759 | 1288408 | 39209 | SH |  | SOLE |  | 0 | 39209 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 | BBG001S7V596 | 9323111 | 52321 | SH |  | SOLE |  | 0 | 52321 | 0 |
| DISCOVER FINL SVCS | COM | 254709108 | BBG001SS0KV6 | 330034 | 3373 | SH |  | SOLE |  | 0 | 3373 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 3473454 | 39979 | SH |  | SOLE |  | 0 | 39979 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 3165860 | 51628 | SH |  | SOLE |  | 0 | 51628 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 | BBG001S6KBQ8 | 4971705 | 9692 | SH |  | SOLE |  | 0 | 9692 | 0 |
| ENTEGRIS INC | COM | 29362U104 | BBG001SF9YL6 | 1681268 | 25633 | SH |  | SOLE |  | 0 | 25633 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 | BBG001S67KF5 | 731250 | 6500 | SH |  | SOLE |  | 0 | 6500 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | BBG001S9P0Z1 | 1224042 | 50748 | SH |  | SOLE |  | 0 | 50748 | 0 |
| EXELON CORP | COM | 30161N101 | BBG001SBJMT2 | 2039726 | 47183 | SH |  | SOLE |  | 0 | 47183 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 9643970 | 87433 | SH |  | SOLE |  | 0 | 87433 | 0 |
| FEDEX CORP | COM | 31428X106 | BBG001S5R3M5 | 367184 | 2120 | SH |  | SOLE |  | 0 | 2120 | 0 |
| FIRST TR EXCHANGE-TRADED FD | FST LOW OPPT EFT | 33739Q200 | BBG007GFNV45 | 279766 | 5901 | SH |  | SOLE |  | 0 | 5901 | 0 |
| FORD MTR CO DEL | COM | 345370860 | BBG001S5TZ33 | 687066 | 59077 | SH |  | SOLE |  | 0 | 59077 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG001S5RHP1 | 6349961 | 25593 | SH |  | SOLE |  | 0 | 25593 | 0 |
| GENERAL MTRS CO | COM | 37045V100 | BBG001SM1DK6 | 4596579 | 136640 | SH |  | SOLE |  | 0 | 136640 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 11523697 | 33559 | SH |  | SOLE |  | 0 | 33559 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG001T8NTY2 | 9931992 | 41390 | SH |  | SOLE |  | 0 | 41390 | 0 |
| HF SINCLAIR CORP | COM | 403949100 | BBG0135B2269 | 1528161 | 29450 | SH |  | SOLE |  | 0 | 29450 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 16286670 | 51562 | SH |  | SOLE |  | 0 | 51562 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 | BBG001S5SFY4 | 3721715 | 21345 | SH |  | SOLE |  | 0 | 21345 | 0 |
| INTEL CORP | COM | 458140100 | BBG001S5SF65 | 785616 | 29724 | SH |  | SOLE |  | 0 | 29724 | 0 |
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 | BBG001T0NSB6 | 581360 | 52000 | SH |  | SOLE |  | 0 | 52000 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 2664930 | 10008 | SH |  | SOLE |  | 0 | 10008 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 23443995 | 677768 | SH |  | SOLE |  | 0 | 677768 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 505550 | 2090 | SH |  | SOLE |  | 0 | 2090 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 | BBG001SFC7W9 | 1802287 | 19043 | SH |  | SOLE |  | 0 | 19043 | 0 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 49382679 | 128530 | SH |  | SOLE |  | 0 | 128530 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 | BBG001SK77D5 | 464275 | 12250 | SH |  | SOLE |  | 0 | 12250 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 5691928 | 26568 | SH |  | SOLE |  | 0 | 26568 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 | BBG001SJCNS1 | 691497 | 10252 | SH |  | SOLE |  | 0 | 10252 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 563183 | 3230 | SH |  | SOLE |  | 0 | 3230 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 | BBG001S561Q8 | 3276000 | 56000 | SH |  | SOLE |  | 0 | 56000 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 | BBG001S561K4 | 12741498 | 87830 | SH |  | SOLE |  | 0 | 87830 | 0 |
| ISHARES TR | S MC 400VL ETF | 464287705 | BBG001SFQJM9 | 252000 | 2500 | SH |  | SOLE |  | 0 | 2500 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 2302133 | 19089 | SH |  | SOLE |  | 0 | 19089 | 0 |
| ISHARES TR | SP SMCP600VL ETF | 464287879 | BBG001SFQL26 | 231351 | 2533 | SH |  | SOLE |  | 0 | 2533 | 0 |
| ISHARES TR | U.S. ENERGY ETF | 464287796 | BBG001SFGXW8 | 410274 | 8825 | SH |  | SOLE |  | 0 | 8825 | 0 |
| ISHARES TR | US AER DEF ETF | 464288760 | BBG001SC08P5 | 331106 | 2960 | SH |  | SOLE |  | 0 | 2960 | 0 |
| ISHARES TR | US HLTHCARE ETF | 464287762 | BBG001SFGXR4 | 212783 | 750 | SH |  | SOLE |  | 0 | 750 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 15324748 | 86752 | SH |  | SOLE |  | 0 | 86752 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 18832107 | 140433 | SH |  | SOLE |  | 0 | 140433 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 | BBG001TG2YZ5 | 2741832 | 151650 | SH |  | SOLE |  | 0 | 151650 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 | BBG001S5S0N9 | 8441293 | 40542 | SH |  | SOLE |  | 0 | 40542 | 0 |
| LIBERTY MEDIA CORP DEL | COM C BRAVES GRP | 531229888 | BBG00BFHD5S5 | 561414 | 17419 | SH |  | SOLE |  | 0 | 17419 | 0 |
| LILLY ELI  CO | COM | 532457108 | BBG001S5STL8 | 7437893 | 20331 | SH |  | SOLE |  | 0 | 20331 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 7731777 | 15892 | SH |  | SOLE |  | 0 | 15892 | 0 |
| MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 | BBG001S731Q7 | 1753534 | 34924 | SH |  | SOLE |  | 0 | 34924 | 0 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 6682113 | 60226 | SH |  | SOLE |  | 0 | 60226 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 2428461 | 20180 | SH |  | SOLE |  | 0 | 20180 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 | BBG001S6P675 | 574276 | 11490 | SH |  | SOLE |  | 0 | 11490 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 37929213 | 158157 | SH |  | SOLE |  | 0 | 158157 | 0 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 | BBG001S5VQ21 | 1311699 | 25460 | SH |  | SOLE |  | 0 | 25460 | 0 |
| NEXPOINT RESIDENTIAL TR INC | COM | 65341D102 | BBG0077Q6QH7 | 8974250 | 206209 | SH |  | SOLE |  | 0 | 206209 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG001S5RB29 | 10996242 | 131533 | SH |  | SOLE |  | 0 | 131533 | 0 |
| NIKE INC | CL B | 654106103 | BBG001S6NTK2 | 1518303 | 12975 | SH |  | SOLE |  | 0 | 12975 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 | BBG001S5TP26 | 10997015 | 20155 | SH |  | SOLE |  | 0 | 20155 | 0 |
| NOV INC | COM | 62955J103 | BBG001S6HFR2 | 7092720 | 339527 | SH |  | SOLE |  | 0 | 339527 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 | BBG001SF5LW6 | 5014911 | 55279 | SH |  | SOLE |  | 0 | 55279 | 0 |
| NUVEEN CORPORATE INCOME 2023 | COM | 67079F101 | BBG00M1CL321 | 192782 | 21249 | SH |  | SOLE |  | 0 | 21249 | 0 |
| NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | BBG001SBJW10 | 367793 | 36311 | SH |  | SOLE |  | 0 | 36311 | 0 |
| NUVEEN MUN VALUE FD INC | COM | 670928100 | BBG001S5TS84 | 114165 | 13275 | SH |  | SOLE |  | 0 | 13275 | 0 |
| NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 | BBG001S97B05 | 129908 | 10754 | SH |  | SOLE |  | 0 | 10754 | 0 |
| NUVEEN NEW JERSEY QULT MUN F | COM | 67069Y102 | BBG001SHM0F8 | 154297 | 13654 | SH |  | SOLE |  | 0 | 13654 | 0 |
| NUVEEN NEW YORK AMT QLT MUNI | COM | 670656107 | BBG001S90BW7 | 740864 | 72208 | SH |  | SOLE |  | 0 | 72208 | 0 |
| NUVEEN SELECT MAT MUN FD | SH BEN INT | 67061T101 | BBG001S74480 | 90600 | 10000 | SH |  | SOLE |  | 0 | 10000 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 8610145 | 58917 | SH |  | SOLE |  | 0 | 58917 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 | BBG001SF62F6 | 566538 | 3585 | SH |  | SOLE |  | 0 | 3585 | 0 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 340139 | 4161 | SH |  | SOLE |  | 0 | 4161 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 427747 | 6006 | SH |  | SOLE |  | 0 | 6006 | 0 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 10282922 | 56918 | SH |  | SOLE |  | 0 | 56918 | 0 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 11253125 | 219616 | SH |  | SOLE |  | 0 | 219616 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 9521027 | 94072 | SH |  | SOLE |  | 0 | 94072 | 0 |
| PIONEER MUNICIPAL HIGH INCOM | COM | 723762100 | BBG001SC4CM5 | 102183 | 12615 | SH |  | SOLE |  | 0 | 12615 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 13779519 | 90917 | SH |  | SOLE |  | 0 | 90917 | 0 |
| PROSHARES TR | ULTRAPRO SHT QQQ | 74347G432 | BBG001T6S3C2 | 399674 | 7400 | SH |  | SOLE |  | 0 | 7400 | 0 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 3200788 | 29113 | SH |  | SOLE |  | 0 | 29113 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 | BBG001S5X5Q9 | 11524865 | 114198 | SH |  | SOLE |  | 0 | 114198 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 | BBG001SM4KY2 | 559676 | 25959 | SH |  | SOLE |  | 0 | 25959 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 | BBG001S7T1S7 | 1750275 | 20010 | SH |  | SOLE |  | 0 | 20010 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 | BBG001S7T107 | 1415332 | 18985 | SH |  | SOLE |  | 0 | 18985 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | BBG001S7SCQ6 | 2160015 | 15900 | SH |  | SOLE |  | 0 | 15900 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | BBG001S7T232 | 223007 | 2270 | SH |  | SOLE |  | 0 | 2270 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 | BBG001S7TD56 | 1656821 | 23501 | SH |  | SOLE |  | 0 | 23501 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | BBG001S7TCZ5 | 2620458 | 21058 | SH |  | SOLE |  | 0 | 21058 | 0 |
| SERVICENOW INC | COM | 81762P102 | BBG001T4JFC0 | 2985408 | 7689 | SH |  | SOLE |  | 0 | 7689 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 | BBG001SCYWS2 | 895039 | 9821 | SH |  | SOLE |  | 0 | 9821 | 0 |
| SONY GROUP CORPORATION | SPONSORED ADR | 835699307 | BBG001S5W6H8 | 270794 | 3550 | SH |  | SOLE |  | 0 | 3550 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 | BBG001S5SXC9 | 2267978 | 67359 | SH |  | SOLE |  | 0 | 67359 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 | BBG001S8LH99 | 3038296 | 9170 | SH |  | SOLE |  | 0 | 9170 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 3787383 | 22326 | SH |  | SOLE |  | 0 | 22326 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 429851 | 1124 | SH |  | SOLE |  | 0 | 1124 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 211311 | 300 | SH | Put | SOLE |  | 0 | 300 | 0 |
| SPDR SER TR | S DIVID ETF | 78464A763 | BBG001SPTBP8 | 2676103 | 21390 | SH |  | SOLE |  | 0 | 21390 | 0 |
| STARBUCKS CORP | COM | 855244109 | BBG001S72KH6 | 2582795 | 26036 | SH |  | SOLE |  | 0 | 26036 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 344516 | 4625 | SH |  | SOLE |  | 0 | 4625 | 0 |
| TARGET CORP | COM | 87612E106 | BBG001SC0K41 | 7120672 | 47776 | SH |  | SOLE |  | 0 | 47776 | 0 |
| TESLA INC | COM | 88160R101 | BBG001SQKGD7 | 241679 | 1962 | SH |  | SOLE |  | 0 | 1962 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | BBG001S5WS08 | 1200504 | 2180 | SH |  | SOLE |  | 0 | 2180 | 0 |
| TRANSOCEAN LTD | REG SHS | H8817H100 | BBG001S7B678 | 592800 | 130000 | SH |  | SOLE |  | 0 | 130000 | 0 |
| TRANSOCEAN LTD | REG SHS | H8817H100 | BBG001S7B678 | 60250 | 500 | SH | Call | SOLE |  | 0 | 500 | 0 |
| TYSON FOODS INC | CL A | 902494103 | BBG001S871D5 | 265808 | 4270 | SH |  | SOLE |  | 0 | 4270 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 | BBG001S5X1K4 | 3829039 | 76048 | SH |  | SOLE |  | 0 | 76048 | 0 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 3689788 | 17819 | SH |  | SOLE |  | 0 | 17819 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 22378991 | 42210 | SH |  | SOLE |  | 0 | 42210 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 | BBG001S5X8K9 | 3691643 | 29100 | SH |  | SOLE |  | 0 | 29100 | 0 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 | BBG001SK3J43 | 427543 | 3218 | SH |  | SOLE |  | 0 | 3218 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 383598 | 1800 | SH |  | SOLE |  | 0 | 1800 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 | BBG001SMD2X3 | 1103854 | 13383 | SH |  | SOLE |  | 0 | 13383 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 | BBG001SHTTW9 | 270729 | 1350 | SH |  | SOLE |  | 0 | 1350 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 280266 | 7190 | SH |  | SOLE |  | 0 | 7190 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | BBG001SHTV18 | 358174 | 6460 | SH |  | SOLE |  | 0 | 6460 | 0 |
| VANGUARD WORLD FDS | INDUSTRIAL ETF | 92204A603 | BBG001SHVTX5 | 511942 | 2803 | SH |  | SOLE |  | 0 | 2803 | 0 |
| VANGUARD WORLD FDS | MATERIALS ETF | 92204A801 | BBG001SHTTP7 | 1622522 | 9533 | SH |  | SOLE |  | 0 | 9533 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 2599604 | 65979 | SH |  | SOLE |  | 0 | 65979 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 8156900 | 39261 | SH |  | SOLE |  | 0 | 39261 | 0 |
| VULCAN MATLS CO | COM | 929160109 | BBG001S5X8R2 | 23897474 | 136471 | SH |  | SOLE |  | 0 | 136471 | 0 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 1080157 | 7618 | SH |  | SOLE |  | 0 | 7618 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 | BBG001S5XF23 | 1042729 | 25253 | SH |  | SOLE |  | 0 | 25253 | 0 |
| WESTERN ASSET INTER MUNI FD | COM | 958435109 | BBG001S70803 | 88743 | 11692 | SH |  | SOLE |  | 0 | 11692 | 0 |
| WHOLE EARTH BRANDS INC | *W EXP 06/25/202 | 96684W126 |  | 64909 | 282211 | SH |  | SOLE |  | 0 | 282211 | 0 |
| WORLD WRESTLING ENTMT INC | CL A | 98156Q108 | BBG001S7W1P6 | 561867 | 8200 | SH |  | SOLE |  | 0 | 8200 | 0 |

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