Novare Capital Management LLC

Name: NOVARE CAPITAL MANAGEMENT LLC 13F holdings, Q1 2025
Creator: NOVARE CAPITAL MANAGEMENT LLC
Published: 2025-04-29

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
WSM Williams-Sonoma Inc.	0.14%	10,118	$1.6M	Reduce -0.5%
PRF Invesco Rafi US 1000 ETF	0.14%	39,305	$1.6M	Reduce -0.2%
LLY Eli Lilly & Co.	0.14%	1,869	$1.5M	Add +218.4%
DUK Duke Energy Corp.	0.13%	12,357	$1.5M	Add +10.4%
KO The Coca-Cola Co.	0.13%	20,046	$1.4M	Reduce -9.5%
XOM Exxon Mobil Corp.	0.13%	12,057	$1.4M	Reduce -1.7%
BSCX Invesco Bulletshares 2033 CB	0.12%	64,922	$1.4M	Add +46.3%
VYM Vanguard High DVD Yield ETF	0.12%	10,343	$1.3M	Add +1.6%
XLB SS Materials Select Sector	0.10%	13,305	$1.1M	Add +79.7%
AZO AutoZone Inc.	0.10%	294	$1.1M	No change
IGV iShares Expanded Tech-Softwa	0.09%	12,150	$1.1M	Reduce -5.1%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	0.09%	20,190	$1.0M	No change
BWMN Bowman Consulting Group Ltd.	0.09%	47,307	$1.0M	No change
PANW Palo Alto Networks Inc.	0.08%	5,670	$968K	Reduce -5.0%
ESGV Vanguard ESG US Stock ETF	0.08%	9,780	$958K	Add +14.4%
VCIT Vanguard Int-Term Corporate	0.08%	11,594	$948K	Add +4.8%
T AT&T Inc.	0.08%	33,255	$940K	Add +3.7%
LMT Lockheed Martin Corp.	0.08%	2,094	$935K	Reduce -11.2%
SCHW Schwab (charles) Corp.	0.08%	11,835	$926K	Add +5.3%
RY Royal Bank of Canada	0.08%	7,909	$892K	Add +14.1%
VOOG Vanguard S&P 500 Growth ETF	0.07%	2,464	$824K	Reduce -9.2%
GOOG Alphabet Inc. Class C	0.07%	4,787	$748K	Add +2.4%
JEPI JPMorgan Equity Premium Inco	0.06%	12,923	$738K	Reduce -12.2%
BSCY Invesco Bulletshares 2034 CB	0.06%	36,026	$738K	Add +57.3%
GPN Global Payments Inc.	0.06%	7,520	$736K	Reduce -2.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.06%	2,890	$719K	Add +0.3%
VCEB Vanguard ESG US Corp. Bond	0.06%	11,405	$718K	Add +5.1%
ORCL Oracle Corp.	0.06%	5,120	$716K	Add +5.0%
AMD Advanced Micro Devices	0.06%	6,530	$671K	Reduce -45.2%
EAGG iShares ESG Aware US Aggrega	0.06%	13,952	$662K	Reduce -4.0%
XLRE SS Real Estate Select Sector	0.06%	15,232	$637K	Add +12.7%
SUSB iShares ESG Aware 1-5 Year U	0.06%	25,400	$635K	Add +4.3%
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.05%	2,420	$622K	Reduce -1.9%
ATO Atmos Energy Corp.	0.05%	4,000	$618K	Reduce -4.1%
SO The Southern Co.	0.05%	6,709	$617K	Add +0.4%
SAMG Silvercrest Asset Manageme-A	0.05%	36,500	$597K	Reduce -28.1%
ARI Apollo Commercial Real Estat	0.05%	58,100	$556K	Add +16.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.05%	5,601	$553K	Reduce -4.8%
PLTR Palantir Technologies Inc. Class A	0.04%	5,345	$451K	Reduce -47.9%
VTI VG Morningstar TS MKT ETF-US	0.04%	1,638	$450K	Add +8.3%
TRGP Targa Resources Corp.	0.04%	2,200	$441K	No change
C Citigroup Inc.	0.04%	5,651	$401K	New
IJR iShares Core S&P Small-Cap E	0.03%	3,816	$399K	Reduce -66.4%
BABA Alibaba Group Holding-SP ADR	0.03%	2,886	$382K	New
BMY Bristol-Myers Squibb Co.	0.03%	6,250	$381K	No change
SUSL iShares ESG MSCI USA Leaders	0.03%	3,885	$372K	Reduce -5.0%
MCD McDonald's Corp.	0.03%	1,188	$371K	Add +20.0%
SPG Simon Property Group Inc.	0.03%	2,150	$357K	No change
EPD Enterprise Products Partners	0.03%	10,425	$356K	No change
VRT Vertiv Holdings Co. Class A	0.03%	4,790	$346K	Add +34.7%
ASTS Ast Spacemobile Inc.	0.03%	15,000	$341K	New
DGRW Wisdomtree U.S. Quality Divi	0.03%	4,255	$340K	No change
FITB Fifth Third Bancorp	0.03%	8,667	$340K	Add +5.0%
ENVA Enova International Inc.	0.03%	3,500	$338K	No change
XLV SS Health Care Select Sector	0.03%	2,241	$327K	Add +10.9%
AEP American Electric Power	0.03%	2,932	$320K	Add +0.5%
MDY State Street SPDR S&P Midcap	0.03%	591	$315K	No change
WFC Wells Fargo & Co.	0.03%	4,332	$311K	Add +27.4%
NFLX Netflix Inc.	0.03%	333	$311K	New
COP Conocophillips	0.03%	2,920	$307K	Reduce -25.4%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.03%	3,875	$306K	Add +10.2%
ET Energy Transfer LP	0.03%	16,433	$305K	No change
EMN Eastman Chemical Co.	0.03%	3,435	$303K	Reduce -24.1%
AXP American Express Co.	0.03%	1,119	$301K	Reduce -7.1%
CAT Caterpillar Inc.	0.03%	910	$300K	Reduce -58.8%
UNP Union Pacific Corp.	0.03%	1,269	$300K	Add +3.7%
IWF iShares Russell 1000 Growth	0.02%	738	$266K	No change
RJF Raymond James Financial Inc.	0.02%	1,880	$261K	No change
PYPL PayPal Holdings Inc.	0.02%	3,929	$256K	Reduce -7.0%
ESGU iShares ESG Aware MSCI USA	0.02%	2,095	$255K	No change
ISRG Intuitive Surgical Inc.	0.02%	510	$253K	Add +3.7%
TSM Taiwan Semiconductor-SP ADR	0.02%	1,518	$252K	Reduce -2.3%
FTNT Fortinet Inc.	0.02%	2,600	$250K	No change
VTV Vanguard Mrngstr Val ETF-Aui	0.02%	1,440	$249K	No change
BDX Becton Dickinson and Co.	0.02%	1,068	$245K	Reduce -3.8%
HSY The Hershey Co.	0.02%	1,395	$239K	New
NVO Novo-Nordisk A/S-Spons ADR	0.02%	3,424	$238K	No change
KMB Kimberly-Clark Corp.	0.02%	1,664	$237K	Reduce -4.8%
PEY Invesco High Yield Equity Di	0.02%	10,835	$233K	Reduce -7.7%
BX Blackstone Inc.	0.02%	1,646	$230K	No change
MA Mastercard Inc. Class A	0.02%	419	$229K	Add +8.8%
PFE Pfizer Inc.	0.02%	8,489	$215K	Reduce -1.3%
FBNC First Bancorp	0.02%	5,277	$212K	No change
AMGN Amgen Inc.	0.02%	679	$211K	New
GLD SPDR Gold Shares	0.02%	708	$204K	New
IVZ Invesco Ltd.	0.02%	12,000	$182K	No change
PDM Piedmont Realty Trust Inc.	0.01%	13,683	$101K	No change

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