Narwhal Capital Managment provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting. Financial planning was provided to 11–25 clients last fiscal year.
Narwhal Capital Managment reports 365 clients. They include 223 individual clients, 111 high-net-worth individuals, and 19 corporations and other businesses. Of its assets, 94.0% ($1.96B across 831 accounts) are managed with discretion; $126M across 19 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 61% | 3% |
| High-net-worth individuals | 30% | 43% |
| Charitable organizations | 3% | 4% |
| Corporations and other businesses | 5% | 50% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 223 | $59.5M | 2.9% | $267K |
| High-net-worth individuals | 111 | $901M | 43.2% | $8.12M |
| Charitable organizations | 12 | $79.9M | 3.8% | $6.66M |
| Corporations and other businesses | 19 | $1.04B | 50.1% | $54.9M |
| Total | 365 | $2.08B | 100% | $5.71M |
- Clients
- 223
- Regulatory AUM
- $59.5M
- AUM share
- 2.9%
- Avg. per client
- $267K
- Clients
- 111
- Regulatory AUM
- $901M
- AUM share
- 43.2%
- Avg. per client
- $8.12M
- Clients
- 12
- Regulatory AUM
- $79.9M
- AUM share
- 3.8%
- Avg. per client
- $6.66M
- Clients
- 19
- Regulatory AUM
- $1.04B
- AUM share
- 50.1%
- Avg. per client
- $54.9M
Total
- Clients
- 365
- Regulatory AUM
- $2.08B
- AUM share
- 100%
- Avg. per client
- $5.71M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Narwhal Capital Managment is paid through a percentage of assets under management and hourly charges; its fees and minimums are set out in its brochures on the SEC website.
Matthew Burton owns 75% or more of Narwhal Capital Managment. The leadership team of Narwhal Capital Managment includes President Andrew Hall and Chief Compliance Officer Jonathan Hicks. It has 18 employees, 12 of them in advisory roles.
Staff
- 18 employees
- 12 in advisory functions
- 12 state-registered reps
- Owns 75% or more of Narwhal Capital Managment, LLC
Matthew Burton
Control person · since May 2005
Narwhal Capital Managment’s regulatory assets grew 1.8× from $1.14B (June 2021) to $2.08B (August 2026); clients rose from 183 to 365 and employees fell from 20 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $2.08B | 365 | 18 | 1 |
| Jul 2025July 2025 | $1.76B | 334 | 20 | 1 |
| Feb 2024February 2024 | $1.58B | 311 | 20 | 1 |
| Jul 2023July 2023 | $1.3B | 280 | 18 | 1 |
| Jun 2022June 2022 | $1.37B | 228 | 18 | 1 |
| Jun 2021June 2021 | $1.14B | 183 | 20 | 1 |
Besides its headquarters, Narwhal Capital Managment has 0 offices, with 1 listed address in 1 state.
Georgia · 1 listed address
- 531 Roselane Street, Suite 420, MariettaHQ
Contact and registration details
- Legal name
- Narwhal Capital Managment, LLC
- Headquarters
- 531 Roselane Street, Suite 420, Marietta, GA 30060
- Website
- narwhal.com
- Phone
- 770-344-0172
- @narwhal-capital-management
- SEC file
- 801-66563
- Structure
- Georgia LLC
- Fiscal year end
- December
Narwhal Capital Managment’s named custodian for separately managed accounts is Charles Schwab ($1.88B). Narwhal Capital Managment does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.88B100%
At year end, Narwhal Capital Managment’s separately managed accounts were mostly in stocks (56%) and bonds (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.45B across 157 positions; the largest are iShares TR (11.0%), Nvidia Corporation (6.9%) and Alphabet Inc. (6.8%).
What the accounts hold
- Stocks56%
- Funds15%
- Bonds26%
- State and local bonds23%
- U.S. government and agency bonds2%
- Investment grade corporate bonds1%
- Cash4%
How many clients does Narwhal Capital Managment have?
Narwhal Capital Managment has 365 clients and manages $2.08 billion for them, as of August 2026. They include 223 individual clients, 111 high-net-worth individuals, and 19 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 August 2026
What services does Narwhal Capital Managment offer?
Narwhal Capital Managment provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Narwhal Capital Managment use?
Narwhal Capital Managment’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.88B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 August 2026
How many financial advisors does Narwhal Capital Managment have?
Narwhal Capital Managment has 12 investment adviser representatives registered with state securities authorities, out of 18 employees, and 12 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Narwhal Capital Managment invest in?
At the end of its last fiscal year, Narwhal Capital Managment’s separately managed accounts held 56% exchange-traded equities, 23% state and local bonds, 15% registered funds (mutual funds, ETFs, BDCs), 4% cash and equivalents, 2% U.S. government and agency bonds and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Narwhal Capital Managment?
Narwhal Capital Managment’s direct owner is Matthew Burton (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 August 2026
How does Narwhal Capital Managment get paid?
Narwhal Capital Managment is paid through a percentage of assets under management and hourly charges. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Narwhal Capital Managment?
Narwhal Capital Managment’s main office is at 531 Roselane Street, Suite 420, Marietta, GA 30060. Its phone number is 770-344-0172. Its website is narwhal.com.