AdvisorCensus / Financial advisors / Georgia / Atlanta / Narwhal Capital Management
Narwhal Capital Management
Filed as NARWHAL CAPITAL MANAGEMENT · Legal name Narwhal Capital Managment, LLC
Narwhal Capital Management is an SEC-registered investment advisory firm in Marietta, GA, registered since 2006, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 31, 2026.
Quick answers
From the filingHow is Narwhal Capital Management compensated?
On its Form ADV (Item 5.E, October 2026), Narwhal Capital Management reports these compensation arrangements: a percentage of assets under its management; hourly charges.
Where is Narwhal Capital Management located?
Narwhal Capital Management's principal office is in Marietta, GA, according to its Form ADV.
Is Narwhal Capital Management registered with the SEC or a state?
Narwhal Capital Management is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 135958.
How much does Narwhal Capital Management manage?
Narwhal Capital Management reports $2,084,372,356 in regulatory assets under management in its Form ADV filing dated August 31, 2026 (94% discretionary).
How have Narwhal Capital Management's assets and staff changed since 2021?
In the Form ADV data for Narwhal Capital Management: Regulatory assets under management: $1,137,162,862 in the October 2021 data and $2,084,372,356 in the October 2026 data, up 83%. Total employees: 20 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Narwhal Capital Management serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (223); high net worth individuals (111); corporations or other businesses not listed above (19).
Which custodians does Narwhal Capital Management use?
Narwhal Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.
Does Narwhal Capital Management report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/135958
What changed in Narwhal Capital Management's recent Form ADV filings?
In the March 2026 filing data: Employees performing advisory functions went from 11 to 12. Regulatory assets under management went from $1,764,568,823 to $2,084,372,356 (+18%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Hourly charges
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AThe brochure lists different fees for different services or strategies. See the firm's brochure (dated August 31, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$2,084,372,356 as of October 2026, filing dated August 31, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
Registration and firm details
Items 1, 2, 5- Legal name
- Narwhal Capital Managment, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2006 (20 years)
- Employees
- Total: 18. Performing investment advisory functions: 12.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.
- States registered or notice-filed
-
6 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $2,084,372,356 | 18 | August 31, 2026 |
| October 2025 | $1,764,568,823 | 20 | July 24, 2025 |
| October 2024 | $1,583,450,503 | 20 | September 26, 2024 |
| October 2023 | $1,296,298,600 | 18 | July 5, 2023 |
| October 2022 | $1,367,983,837 | 18 | August 11, 2022 |
| October 2021 | $1,137,162,862 | 20 | June 17, 2021 |
Regulatory assets under management: $1,137,162,862 in the October 2021 data and $2,084,372,356 in the October 2026 data, up 83%.
Total employees: 20 in October 2021 and 18 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- March 2026
- Employees performing advisory functions went from 11 to 12.
- Regulatory assets under management went from $1,764,568,823 to $2,084,372,356 (+18%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Narwhal Capital Management (CRD 135958): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/narwhal-capital-management-marietta-ga-135958