Novare Capital Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), Novare Capital Management LLC reported 187 stock positions worth $1.1 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 5.0% of the portfolio, followed by Microsoft (MSFT, 3.9%) and Apple (AAPL, 3.4%). Compared with Q4 2024, it opened 9 new positions, sold out of 7, added to 74 and reduced 82. The biggest buy was Zoetis (ZTS, shares +104%) and the biggest sale Broadcom (AVGO, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- CHARLOTTE, NC
- CIK
- 0001388409
- Portfolio Value
- $1.1B (Q1 2025)
- SEC Filing
- 0001951757-25-000471 ↗ filed Apr 29, 2025
Holdings Value
Holdings 187 stocks · $1.1B
| SPY SS SPDR S&P 500 ETF Trust-US | 4.99% | 102,015 | $57.1M | Reduce -13.0% |
| MSFT Microsoft Corp. | 3.95% | 120,349 | $45.2M | Add +0.6% |
| AAPL Apple Inc. | 3.36% | 172,851 | $38.4M | Reduce -0.7% |
| IVV iShares Core S&P 500 ETF | 3.11% | 63,292 | $35.6M | Add +6.2% |
| WMT Walmart Inc. | 2.72% | 353,905 | $31.1M | Reduce -6.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.45% | 52,718 | $28.1M | Reduce -2.8% |
| GOOGL Alphabet Inc. Class A | 2.38% | 176,212 | $27.2M | Reduce -2.6% |
| AVGO Broadcom Inc. | 2.23% | 152,422 | $25.5M | Reduce -4.7% |
| AMZN Amazon.com Inc. | 2.23% | 133,875 | $25.5M | Add +1.9% |
| VSLU Applied Finance Valuat ETF | 2.21% | 723,401 | $25.3M | Add +4.9% |
| UNH Unitedhealth Group Inc. | 2.12% | 46,333 | $24.3M | Reduce -0.8% |
| ROP Roper Technologies Inc. | 1.91% | 37,094 | $21.9M | Reduce -1.7% |
| EMR Emerson Electric Co. | 1.84% | 192,180 | $21.1M | Reduce -0.1% |
| ACN Accenture PLC Class A | 1.82% | 66,672 | $20.8M | Reduce -0.4% |
| VZ Verizon Communications Inc. | 1.76% | 443,113 | $20.1M | Add +0.7% |
| NVDA Nvidia Corp. | 1.75% | 184,392 | $20.0M | Add +9.1% |
| JNJ Johnson & Johnson | 1.74% | 119,993 | $19.9M | Reduce -0.9% |
| JPM JPMorgan Chase & Co. | 1.70% | 79,351 | $19.5M | Reduce -2.6% |
| MRK Merck & Co. Inc. | 1.54% | 196,740 | $17.7M | Add +1.1% |
| ZTS Zoetis Inc. | 1.38% | 95,670 | $15.8M | Add +103.5% |
| TXN Texas Instruments Inc. | 1.24% | 78,894 | $14.2M | Reduce -0.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.23% | 167,110 | $14.0M | Reduce -6.0% |
| RTX RTX Corp. | 1.22% | 105,777 | $14.0M | Reduce -0.6% |
| ABT Abbott Laboratories | 1.21% | 104,019 | $13.8M | Reduce -1.9% |
| SYK Stryker Corp. | 1.16% | 35,559 | $13.2M | Reduce -0.9% |
| AMP Ameriprise Financial Inc. | 1.11% | 26,226 | $12.7M | Reduce -2.1% |
| HD Home Depot Inc. | 1.11% | 34,572 | $12.7M | Reduce -0.5% |
| AMLP Alerian MLP ETF | 1.10% | 241,348 | $12.5M | Add +0.4% |
| CSCO Cisco Systems Inc. | 1.09% | 202,391 | $12.5M | Reduce -2.1% |
| AME Ametek Inc. | 1.08% | 71,462 | $12.3M | Reduce -1.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.07% | 294,219 | $12.3M | Add +1.6% |
| HON Honeywell International Inc. | 1.07% | 57,841 | $12.2M | Reduce -0.7% |
| V Visa Inc. Class A | 1.07% | 34,846 | $12.2M | Add +2.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.07% | 100,087 | $12.2M | Reduce -2.1% |
| ADBE Adobe Inc. | 1.05% | 31,396 | $12.0M | Add +20.3% |
| ABBV Abbvie Inc. | 1.04% | 56,938 | $11.9M | Reduce -2.1% |
| GSLC Goldman Activebeta US LC ETF | 1.02% | 106,047 | $11.7M | Add +4.8% |
| ICE Intercontinental Exchange Inc. | 1.02% | 67,553 | $11.7M | Reduce -0.3% |
| CMI Cummins Inc. | 1.01% | 36,806 | $11.5M | Reduce -3.2% |
| KVUE Kenvue Inc. | 1.00% | 476,819 | $11.4M | Reduce -3.1% |
| TMO Thermo Fisher Scientific Inc. | 0.99% | 22,662 | $11.3M | Reduce -3.6% |
| META Meta Platforms Inc. Class A | 0.98% | 19,486 | $11.2M | Add +8.5% |
| LOW Lowe's Cos Inc. | 0.96% | 47,013 | $11.0M | Add +1.1% |
| CVX Chevron Corp. | 0.93% | 63,781 | $10.7M | Add +0.4% |
| XLE SS Energy Select Sector | 0.86% | 105,359 | $9.8M | Add +22.0% |
| LHX L3HARRIS Technologies Inc. | 0.86% | 46,971 | $9.8M | Add +2.3% |
| CHRW C.H. Robinson Worldwide Inc. | 0.85% | 94,916 | $9.7M | Add +0.1% |
| PEP Pepsico Inc. | 0.83% | 63,617 | $9.5M | Reduce -1.0% |
| MOAT Vaneck Morningstar Wide Moat | 0.80% | 103,499 | $9.1M | Add +1.5% |
| CRM Salesforce Inc. | 0.79% | 33,702 | $9.0M | Add +1.3% |
| O Realty Income Corp. | 0.75% | 148,659 | $8.6M | Reduce -1.0% |
| CSX CSX Corp. | 0.74% | 286,077 | $8.4M | Add +6.8% |
| NEE Nextera Energy Inc. | 0.73% | 117,753 | $8.3M | Add +4.5% |
| XLP SS Consumer Staples Sel Sect | 0.70% | 97,871 | $8.0M | Add +0.2% |
| IJH iShares Core S&P Midcap ETF | 0.70% | 136,779 | $8.0M | Add +5.6% |
| AMT American Tower Corp. | 0.69% | 36,356 | $7.9M | Reduce -1.9% |
| THO Thor Industries Inc. | 0.69% | 104,128 | $7.9M | Add +1.6% |
| IVW iShares S&P 500 Growth ETF | 0.68% | 83,471 | $7.7M | Add +28.3% |
| CMCSA Comcast Corp. Class A | 0.66% | 204,575 | $7.5M | Reduce -0.0% |
| XLF SS Financial Select Sector | 0.65% | 149,435 | $7.4M | Add +4.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.62% | 15,204 | $7.1M | Add +28.3% |
| FTV Fortive Corp. | 0.59% | 92,924 | $6.8M | Reduce -1.8% |
| MCHP Microchip Technology Inc. | 0.56% | 131,335 | $6.4M | Add +9.3% |
| SOXX iShares Semiconductor ETF | 0.54% | 33,004 | $6.2M | Add +0.9% |
| QSR Restaurant Brands Intern | 0.41% | 69,603 | $4.6M | Reduce -10.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.39% | 57,121 | $4.5M | Reduce -1.6% |
| MTCH Match Group Inc. | 0.38% | 140,549 | $4.4M | Reduce -36.8% |
| FDUS Fidus Investment Corp. | 0.34% | 189,140 | $3.9M | Reduce -0.1% |
| SCHB Schwab US Broad Market ETF | 0.33% | 173,266 | $3.7M | Add +0.5% |
| CVS CVS Health Corp. | 0.32% | 54,421 | $3.7M | Reduce -6.0% |
| DLR Digital Realty Trust Inc. | 0.29% | 23,156 | $3.3M | Reduce -69.2% |
| BSCR Invesco Bulletshares 2027 CB | 0.29% | 166,522 | $3.3M | Add +0.7% |
| BSCT Invesco Bulletshares 2029 CB | 0.28% | 173,609 | $3.2M | Add +6.0% |
| BSCP Invesco Bulletshares 2025 CB | 0.26% | 144,079 | $3.0M | Reduce -8.7% |
| BSCS Invesco Bulletshares 2028 CB | 0.26% | 144,096 | $2.9M | Add +8.2% |
| BSCQ Invesco Bulletshares 2026 CB | 0.25% | 147,879 | $2.9M | Add +2.8% |
| BSCU Invesco Bulletshares 2030 CB | 0.25% | 172,192 | $2.9M | Add +5.4% |
| CGBD Carlyle Secured Lending Inc. | 0.25% | 175,955 | $2.8M | Reduce -1.5% |
| TSLA Tesla Inc. | 0.24% | 10,495 | $2.7M | Add +335.7% |
| VFH Vanguard Financials ETF | 0.23% | 22,417 | $2.7M | Reduce -0.5% |
| RSP Invesco S&P 500 Equal Weight | 0.23% | 15,409 | $2.7M | Add +184.0% |
| JPST JPMorgan Ultra-Short Income | 0.23% | 52,088 | $2.6M | Reduce -1.8% |
| BSCV Invesco Bulletshares 2031 CB | 0.20% | 143,531 | $2.3M | Add +3.2% |
| COST Costco Wholesale Corp. | 0.20% | 2,462 | $2.3M | Reduce -10.2% |
| VDC Vanguard Consumer Staple ETF | 0.20% | 10,532 | $2.3M | Reduce -1.0% |
| SMH Vaneck Semiconductor ETF | 0.20% | 10,676 | $2.3M | Reduce -1.2% |
| TFC Truist Financial Corp. | 0.19% | 52,593 | $2.2M | Reduce -25.7% |
| XLC SS Comm Select Sector SPDR | 0.17% | 20,500 | $2.0M | Reduce -6.5% |
| XLI SS Industrial Select Sector | 0.17% | 14,708 | $1.9M | New |
| BKNG Booking Holdings Inc. | 0.17% | 412 | $1.9M | Reduce -11.8% |
| FALN iShares Fallen Angels ETF | 0.17% | 70,774 | $1.9M | Add +10.0% |
| BSCW Invesco Bulletshares 2032 CB | 0.17% | 92,953 | $1.9M | Add +14.9% |
| XLK SS Technology Select Sector | 0.16% | 9,136 | $1.9M | Add +0.8% |
| SPLV Invesco S&P 500 Low Volatili | 0.16% | 24,817 | $1.9M | New |
| VIG Vanguard Dividend Apprec ETF | 0.16% | 9,459 | $1.8M | Reduce -2.9% |
| PG The Procter & Gamble Co. | 0.15% | 10,057 | $1.7M | Add +7.5% |
| SCHX Schwab US Large-Cap ETF | 0.15% | 77,437 | $1.7M | Reduce -1.3% |
| VOO Vanguard S&P 500 ETF | 0.15% | 3,286 | $1.7M | No change |
| INTU Intuit Inc. | 0.15% | 2,750 | $1.7M | Reduce -11.7% |
| SCHM Schwab US Mid Cap ETF | 0.14% | 62,099 | $1.6M | Reduce -6.9% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $653K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 529 | $653K | Reduce -1.7% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -4.7% | 2.23% | −0.89 |
| DLR Digital Realty Trust Inc. | Reduce -69.2% | 0.29% | −0.83 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -13.0% | 4.99% | −0.80 |
| GOOGL Alphabet Inc. Class A | Reduce -2.6% | 2.38% | −0.50 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.33 |
| AAPL Apple Inc. | Reduce -0.7% | 3.36% | −0.32 |
| MTCH Match Group Inc. | Reduce -36.8% | 0.38% | −0.23 |
| EMR Emerson Electric Co. | Reduce -0.1% | 1.84% | −0.17 |
| ACN Accenture PLC Class A | Reduce -0.4% | 1.82% | −0.17 |
| WMT Walmart Inc. | Reduce -6.2% | 2.72% | −0.15 |
| CMI Cummins Inc. | Reduce -3.2% | 1.01% | −0.11 |
| AMP Ameriprise Financial Inc. | Reduce -2.1% | 1.11% | −0.09 |
| IJR iShares Core S&P Small-Cap E | Reduce -66.4% | 0.03% | −0.08 |
| TFC Truist Financial Corp. | Reduce -25.7% | 0.19% | −0.07 |
| AMD Advanced Micro Devices | Reduce -45.2% | 0.06% | −0.06 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.6% | 0.99% | −0.04 |
| CAT Caterpillar Inc. | Reduce -58.8% | 0.03% | −0.04 |
| HON Honeywell International Inc. | Reduce -0.7% | 1.07% | −0.04 |
| HD Home Depot Inc. | Reduce -0.5% | 1.11% | −0.03 |
| BKNG Booking Holdings Inc. | Reduce -11.8% | 0.17% | −0.03 |
| GPC Genuine Parts Co. | Sold out | 0.00% | −0.03 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | Sold out | 0.00% | −0.03 |
| SAMG Silvercrest Asset Manageme-A | Reduce -28.1% | 0.05% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -47.9% | 0.04% | −0.03 |
| SMH Vaneck Semiconductor ETF | Reduce -1.2% | 0.20% | −0.02 |
| AME Ametek Inc. | Reduce -1.2% | 1.08% | −0.02 |
| CGBD Carlyle Secured Lending Inc. | Reduce -1.5% | 0.25% | −0.02 |
| QSR Restaurant Brands Intern | Reduce -10.3% | 0.41% | −0.02 |
| XJH Ishare ESG SS S&P Midcap ETF | Sold out | 0.00% | −0.02 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.02 |
| WSM Williams-Sonoma Inc. | Reduce -0.5% | 0.14% | −0.02 |
| PPG PPG Industries Inc. | Sold out | 0.00% | −0.02 |
| INTU Intuit Inc. | Reduce -11.7% | 0.15% | −0.02 |
| IWB iShares Russell 1000 ETF | Sold out | 0.00% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -11.2% | 0.08% | −0.01 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -8.7% | 0.26% | −0.01 |
| IGV iShares Expanded Tech-Softwa | Reduce -5.1% | 0.09% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Reduce -6.9% | 0.14% | −0.01 |
| VOOG Vanguard S&P 500 Growth ETF | Reduce -9.2% | 0.07% | −0.01 |
| TXN Texas Instruments Inc. | Reduce -0.1% | 1.24% | −0.01 |
| EMN Eastman Chemical Co. | Reduce -24.1% | 0.03% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -10.2% | 0.20% | −0.01 |
| GPN Global Payments Inc. | Reduce -2.2% | 0.06% | −0.01 |
| PYPL PayPal Holdings Inc. | Reduce -7.0% | 0.02% | −0.01 |
| DIS The Walt Disney Co. | Reduce -4.8% | 0.05% | −0.01 |
| PANW Palo Alto Networks Inc. | Reduce -5.0% | 0.08% | −0.01 |
| JEPI JPMorgan Equity Premium Inco | Reduce -12.2% | 0.06% | −0.01 |
| XLC SS Comm Select Sector SPDR | Reduce -6.5% | 0.17% | −0.01 |
| COP Conocophillips | Reduce -25.4% | 0.03% | −0.01 |
| AXP American Express Co. | Reduce -7.1% | 0.03% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| ZTS Zoetis Inc. | Add +103.5% | 1.38% | +0.73 |
| VZ Verizon Communications Inc. | Add +0.7% | 1.76% | +0.27 |
| XLE SS Energy Select Sector | Add +22.0% | 0.86% | +0.24 |
| XLI SS Industrial Select Sector | New | 0.17% | +0.17 |
| V Visa Inc. Class A | Add +2.8% | 1.07% | +0.16 |
| SPLV Invesco S&P 500 Low Volatili | New | 0.16% | +0.16 |
| CVX Chevron Corp. | Add +0.4% | 0.93% | +0.16 |
| TSLA Tesla Inc. | Add +335.7% | 0.24% | +0.16 |
| RSP Invesco S&P 500 Equal Weight | Add +184.0% | 0.23% | +0.15 |
| IVV iShares Core S&P 500 ETF | Add +6.2% | 3.11% | +0.15 |
| IVW iShares S&P 500 Growth ETF | Add +28.3% | 0.68% | +0.12 |
| AMLP Alerian MLP ETF | Add +0.4% | 1.10% | +0.12 |
| QQQ Invesco QQQ Trust Series 1 | Add +28.3% | 0.62% | +0.11 |
| LLY Eli Lilly & Co. | Add +218.4% | 0.14% | +0.10 |
| META Meta Platforms Inc. Class A | Add +8.5% | 0.98% | +0.10 |
| VSLU Applied Finance Valuat ETF | Add +4.9% | 2.21% | +0.09 |
| ADBE Adobe Inc. | Add +20.3% | 1.05% | +0.07 |
| XLF SS Financial Select Sector | Add +4.0% | 0.65% | +0.07 |
| XLP SS Consumer Staples Sel Sect | Add +0.2% | 0.70% | +0.05 |
| NEE Nextera Energy Inc. | Add +4.5% | 0.73% | +0.05 |
| XLB SS Materials Select Sector | Add +79.7% | 0.10% | +0.05 |
| LHX L3HARRIS Technologies Inc. | Add +2.3% | 0.86% | +0.05 |
| BSCX Invesco Bulletshares 2033 CB | Add +46.3% | 0.12% | +0.04 |
| GSLC Goldman Activebeta US LC ETF | Add +4.8% | 1.02% | +0.04 |
| C Citigroup Inc. | New | 0.04% | +0.04 |
| BABA Alibaba Group Holding-SP ADR | New | 0.03% | +0.03 |
| BSCS Invesco Bulletshares 2028 CB | Add +8.2% | 0.26% | +0.03 |
| DUK Duke Energy Corp. | Add +10.4% | 0.13% | +0.03 |
| ASTS Ast Spacemobile Inc. | New | 0.03% | +0.03 |
| BSCW Invesco Bulletshares 2032 CB | Add +14.9% | 0.17% | +0.03 |
| BSCT Invesco Bulletshares 2029 CB | Add +6.0% | 0.28% | +0.03 |
| NFLX Netflix Inc. | New | 0.03% | +0.03 |
| BSCY Invesco Bulletshares 2034 CB | Add +57.3% | 0.06% | +0.03 |
| BSCU Invesco Bulletshares 2030 CB | Add +5.4% | 0.25% | +0.02 |
| CHRW C.H. Robinson Worldwide Inc. | Add +0.1% | 0.85% | +0.02 |
| FALN iShares Fallen Angels ETF | Add +10.0% | 0.17% | +0.02 |
| HSY The Hershey Co. | New | 0.02% | +0.02 |
| T AT&T Inc. | Add +3.7% | 0.08% | +0.02 |
| AMGN Amgen Inc. | New | 0.02% | +0.02 |
| GLD SPDR Gold Shares | New | 0.02% | +0.02 |
| PG The Procter & Gamble Co. | Add +7.5% | 0.15% | +0.02 |
| IJH iShares Core S&P Midcap ETF | Add +5.6% | 0.70% | +0.02 |
| BSCV Invesco Bulletshares 2031 CB | Add +3.2% | 0.20% | +0.02 |
| BSCQ Invesco Bulletshares 2026 CB | Add +2.8% | 0.25% | +0.02 |
| BSCR Invesco Bulletshares 2027 CB | Add +0.7% | 0.29% | +0.01 |
| ARI Apollo Commercial Real Estat | Add +16.7% | 0.05% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +5.3% | 0.08% | +0.01 |
| IBM Intl Business Machines Corp. | Add +0.3% | 0.06% | +0.01 |
| XLRE SS Real Estate Select Sector | Add +12.7% | 0.06% | +0.01 |
| MCD McDonald's Corp. | Add +20.0% | 0.03% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -1.7% | 529 | $653K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 209 | $1.4B | SPY, AAPL, IVV, GOOGL, XLK |
| Q1 2026 | 194 | $1.3B | SPY, AAPL, IVV, MSFT, GOOGL |
| Q4 2025 | 194 | $1.3B | SPY, AAPL, MSFT, GOOGL, IVV |
| Q3 2025 | 192 | $1.3B | SPY, MSFT, AAPL, IVV, AVGO |
| Q2 2025 | 196 | $1.2B | SPY, MSFT, IVV, AVGO, AAPL |
| Q1 2025 | 187 | $1.1B | SPY, MSFT, AAPL, IVV, WMT |
| Q4 2024 | 185 | $1.2B | SPY, MSFT, AAPL, AVGO, IVV |
| Q3 2024 | 190 | $1.2B | SPY, MSFT, AAPL, IVV, WMT |
| Q2 2024 | 186 | $1.1B | SPY, MSFT, AAPL, IVV, GOOGL |
| Q1 2024 | 182 | $1.1B | SPY, MSFT, AAPL, IVV, GOOGL |