Novare Capital Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Novare Capital Management LLC reported 196 stock positions worth $1.2 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 5.1% of the portfolio, followed by Microsoft (MSFT, 4.9%) and iShares Core S&P 500 ETF (IVV, 3.4%). Compared with Q1 2025, it opened 20 new positions, sold out of 11, added to 86 and reduced 68. The biggest buy was a new position in SS Consumer Disc Select Sect (XLY) and the biggest sale Merck (MRK, shares −39%).

Most Recent 13F
Q2 2026
Location
CHARLOTTE, NC
CIK
0001388409
Portfolio Value
$1.2B (Q2 2025)
SEC Filing
0001951757-25-000991 ↗ filed Jul 29, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.1B Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $1.2B Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.2B $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.3B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 196 stocks · $1.2B
SPY SS SPDR S&P 500 ETF Trust-US 5.05% 100,573 $62.1M Reduce -1.4%
MSFT Microsoft Corp. 4.88% 120,568 $60.0M Add +0.2%
IVV iShares Core S&P 500 ETF 3.45% 68,304 $42.4M Add +7.9%
AVGO Broadcom Inc. 3.41% 152,029 $41.9M Reduce -0.3%
AAPL Apple Inc. 3.13% 187,397 $38.4M Add +8.4%
NVDA Nvidia Corp. 2.81% 218,403 $34.5M Add +18.4%
WMT Walmart Inc. 2.78% 349,959 $34.2M Reduce -1.1%
GOOGL Alphabet Inc. Class A 2.51% 175,023 $30.8M Reduce -0.7%
AMZN Amazon.com Inc. 2.42% 135,478 $29.7M Add +1.2%
VSLU Applied Finance Valuat ETF 2.34% 733,821 $28.7M Add +1.4%
EMR Emerson Electric Co. 2.09% 193,228 $25.8M Add +0.6%
BRK.B Berkshire Hathaway Inc. Class B 2.09% 52,926 $25.7M Add +0.4%
JPM JPMorgan Chase & Co. 1.89% 80,362 $23.3M Add +1.3%
ROP Roper Technologies Inc. 1.73% 37,502 $21.3M Add +1.1%
ACN Accenture PLC Class A 1.63% 67,027 $20.0M Add +0.5%
VZ Verizon Communications Inc. 1.56% 443,964 $19.2M Add +0.2%
JNJ Johnson & Johnson 1.51% 121,485 $18.6M Add +1.2%
UNH Unitedhealth Group Inc. 1.36% 53,507 $16.7M Add +15.5%
META Meta Platforms Inc. Class A 1.31% 21,777 $16.1M Add +11.8%
RTX RTX Corp. 1.25% 105,674 $15.4M Reduce -0.1%
ZTS Zoetis Inc. 1.22% 96,171 $15.0M Add +0.5%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.18% 159,809 $14.6M Reduce -4.4%
ABT Abbott Laboratories 1.16% 104,648 $14.2M Add +0.6%
AMP Ameriprise Financial Inc. 1.14% 26,330 $14.1M Add +0.4%
CSCO Cisco Systems Inc. 1.14% 202,186 $14.0M Reduce -0.1%
SYK Stryker Corp. 1.14% 35,444 $14.0M Reduce -0.3%
HON Honeywell International Inc. 1.11% 58,409 $13.6M Add +1.0%
XLY SS Consumer Disc Select Sect 1.06% 60,162 $13.1M New
GSLC Goldman Activebeta US LC ETF 1.06% 107,427 $13.0M Add +1.3%
AME Ametek Inc. 1.05% 71,478 $12.9M Add +0.0%
HD Home Depot Inc. 1.04% 34,861 $12.8M Add +0.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.02% 101,598 $12.5M Add +1.5%
ICE Intercontinental Exchange Inc. 1.02% 68,092 $12.5M Add +0.8%
V Visa Inc. Class A 1.01% 35,071 $12.5M Add +0.7%
ADBE Adobe Inc. 1.01% 32,068 $12.4M Add +2.1%
TXN Texas Instruments Inc. 0.99% 58,750 $12.2M Reduce -25.5%
CMI Cummins Inc. 0.99% 37,179 $12.2M Add +1.0%
AMLP Alerian MLP ETF 0.97% 245,175 $12.0M Add +1.6%
LHX L3HARRIS Technologies Inc. 0.94% 46,176 $11.6M Reduce -1.7%
ABBV Abbvie Inc. 0.88% 58,300 $10.8M Add +2.4%
LOW Lowe's Cos Inc. 0.87% 48,269 $10.7M Add +2.7%
KVUE Kenvue Inc. 0.82% 480,782 $10.1M Add +0.8%
TMO Thermo Fisher Scientific Inc. 0.81% 24,496 $9.9M Add +8.1%
XLF SS Financial Select Sector 0.81% 189,224 $9.9M Add +26.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.80% 208,846 $9.9M Reduce -29.0%
MOAT Vaneck Morningstar Wide Moat 0.80% 105,170 $9.9M Add +1.6%
CSX CSX Corp. 0.80% 299,842 $9.8M Add +4.8%
MRK Merck & Co. Inc. 0.77% 120,264 $9.5M Reduce -38.9%
MCHP Microchip Technology Inc. 0.77% 135,044 $9.5M Add +2.8%
CRM Salesforce Inc. 0.77% 34,618 $9.4M Add +2.7%
THO Thor Industries Inc. 0.77% 106,012 $9.4M Add +1.8%
CHRW C.H. Robinson Worldwide Inc. 0.76% 97,196 $9.3M Add +2.4%
CVX Chevron Corp. 0.72% 61,610 $8.8M Reduce -3.4%
O Realty Income Corp. 0.71% 152,066 $8.8M Add +2.3%
IJH iShares Core S&P Midcap ETF 0.70% 139,777 $8.7M Add +2.2%
IVW iShares S&P 500 Growth ETF 0.70% 78,236 $8.6M Reduce -6.3%
PEP Pepsico Inc. 0.67% 62,745 $8.3M Reduce -1.4%
NEE Nextera Energy Inc. 0.66% 117,321 $8.1M Reduce -0.4%
AMT American Tower Corp. 0.65% 36,296 $8.0M Reduce -0.2%
XLP SS Consumer Staples Sel Sect 0.65% 98,783 $8.0M Add +0.9%
QQQ Invesco QQQ Trust Series 1 0.62% 13,877 $7.7M Reduce -8.7%
CMCSA Comcast Corp. Class A 0.57% 195,236 $7.0M Reduce -4.6%
XLE SS Energy Select Sector 0.54% 78,036 $6.6M Reduce -25.9%
KDP Keurig Dr Pepper Inc. 0.39% 144,089 $4.8M New
XLC SS Comm Select Sector SPDR 0.37% 42,088 $4.6M Add +105.3%
VCSH Vanguard S/T Corp. Bond ETF 0.37% 57,282 $4.6M Add +0.3%
XLK SS Technology Select Sector 0.33% 16,159 $4.1M Add +76.9%
SCHB Schwab US Broad Market ETF 0.33% 169,197 $4.0M Reduce -2.4%
FDUS Fidus Investment Corp. 0.31% 190,275 $3.8M Add +0.6%
DLR Digital Realty Trust Inc. 0.30% 20,913 $3.6M Reduce -9.7%
TSLA Tesla Inc. 0.29% 11,042 $3.5M Add +5.2%
BSCT Invesco Bulletshares 2029 CB 0.28% 185,446 $3.5M Add +6.8%
JPST JPMorgan Ultra-Short Income 0.28% 68,148 $3.5M Add +30.8%
BSCR Invesco Bulletshares 2027 CB 0.28% 174,068 $3.4M Add +4.5%
CVS CVS Health Corp. 0.28% 49,169 $3.4M Reduce -9.7%
LLY Eli Lilly & Co. 0.25% 4,000 $3.1M Add +114.0%
BSCU Invesco Bulletshares 2030 CB 0.24% 177,723 $3.0M Add +3.2%
BSCS Invesco Bulletshares 2028 CB 0.24% 144,542 $3.0M Add +0.3%
BSCQ Invesco Bulletshares 2026 CB 0.24% 149,272 $2.9M Add +0.9%
VFH Vanguard Financials ETF 0.23% 22,322 $2.8M Reduce -0.4%
BSCP Invesco Bulletshares 2025 CB 0.23% 136,987 $2.8M Reduce -4.9%
SOXX iShares Semiconductor ETF 0.23% 11,669 $2.8M Reduce -64.6%
COST Costco Wholesale Corp. 0.22% 2,786 $2.8M Add +13.2%
CGBD Carlyle Secured Lending Inc. 0.22% 194,680 $2.7M Add +10.6%
BSCV Invesco Bulletshares 2031 CB 0.20% 152,261 $2.5M Add +6.1%
MTCH Match Group Inc. 0.19% 76,419 $2.4M Reduce -45.6%
BKNG Booking Holdings Inc. 0.19% 402 $2.3M Reduce -2.4%
VDC Vanguard Consumer Staple ETF 0.19% 10,497 $2.3M Reduce -0.3%
INTU Intuit Inc. 0.17% 2,669 $2.1M Reduce -3.0%
BSCW Invesco Bulletshares 2032 CB 0.17% 99,242 $2.0M Add +6.8%
FALN iShares Fallen Angels ETF 0.16% 73,749 $2.0M Add +4.2%
EEM iShares MSCI Emerging Market 0.16% 41,030 $2.0M New
TFC Truist Financial Corp. 0.15% 44,057 $1.9M Reduce -16.2%
VIG Vanguard Dividend Apprec ETF 0.15% 9,143 $1.9M Reduce -3.3%
VOO Vanguard S&P 500 ETF 0.15% 3,286 $1.9M No change
SCHX Schwab US Large-Cap ETF 0.15% 73,464 $1.8M Reduce -5.1%
AMD Advanced Micro Devices 0.13% 11,625 $1.6M Add +78.0%
PRF Invesco Rafi US 1000 ETF 0.13% 38,976 $1.6M Reduce -0.8%
BSCX Invesco Bulletshares 2033 CB 0.13% 77,592 $1.6M Add +19.5%
SCHM Schwab US Mid Cap ETF 0.13% 57,427 $1.6M Reduce -7.5%

Show all 196 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $636 (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L · principal 524$636New

Total filed on the 13F, all lines: $1.2B.

Portfolio Sells Q1 2025 → Q2 2025
MRK Merck & Co. Inc. Reduce -38.9% 0.77% −0.77
FTV Fortive Corp. Reduce -94.6% 0.02% −0.57
QSR Restaurant Brands Intern Reduce -87.3% 0.05% −0.36
XLE SS Energy Select Sector Reduce -25.9% 0.54% −0.32
SOXX iShares Semiconductor ETF Reduce -64.6% 0.23% −0.32
BAC Bank of America Corp. Reduce -29.0% 0.80% −0.27
TXN Texas Instruments Inc. Reduce -25.5% 0.99% −0.25
CVX Chevron Corp. Reduce -3.4% 0.72% −0.22
MTCH Match Group Inc. Reduce -45.6% 0.19% −0.19
RSP Invesco S&P 500 Equal Weight Reduce -81.0% 0.04% −0.19
XLI SS Industrial Select Sector Sold out 0.00% −0.17
SPLV Invesco S&P 500 Low Volatili Sold out 0.00% −0.16
PEP Pepsico Inc. Reduce -1.4% 0.67% −0.16
SMH Vaneck Semiconductor ETF Reduce -63.4% 0.09% −0.11
CMCSA Comcast Corp. Class A Reduce -4.6% 0.57% −0.09
XLB SS Materials Select Sector Reduce -77.0% 0.02% −0.08
NEE Nextera Energy Inc. Reduce -0.4% 0.66% −0.07
SAMG Silvercrest Asset Manageme-A Sold out 0.00% −0.05
CVS CVS Health Corp. Reduce -9.7% 0.28% −0.05
BNY Bank of New York Mellon Corp. Reduce -4.4% 1.18% −0.04
AMT American Tower Corp. Reduce -0.2% 0.65% −0.04
TFC Truist Financial Corp. Reduce -16.2% 0.15% −0.04
C Citigroup Inc. Sold out 0.00% −0.04
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.03
KO The Coca-Cola Co. Reduce -19.0% 0.09% −0.03
BSCP Invesco Bulletshares 2025 CB Reduce -4.9% 0.23% −0.03
JEPQ JPM Nasdaq Equity Premium Reduce -29.2% 0.06% −0.03
COP Conocophillips Sold out 0.00% −0.03
EMN Eastman Chemical Co. Sold out 0.00% −0.03
UNP Union Pacific Corp. Sold out 0.00% −0.03
GPN Global Payments Inc. Reduce -20.3% 0.04% −0.03
PG The Procter & Gamble Co. Reduce -2.5% 0.13% −0.02
PYPL PayPal Holdings Inc. Sold out 0.00% −0.02
BDX Becton Dickinson and Co. Sold out 0.00% −0.02
PFE Pfizer Inc. Sold out 0.00% −0.02
WSM Williams-Sonoma Inc. Reduce -9.1% 0.12% −0.02
SYK Stryker Corp. Reduce -0.3% 1.14% −0.02
LMT Lockheed Martin Corp. Reduce -15.7% 0.07% −0.02
VDC Vanguard Consumer Staple ETF Reduce -0.3% 0.19% −0.01
BMY Bristol-Myers Squibb Co. Reduce -13.5% 0.02% −0.01
SCHM Schwab US Mid Cap ETF Reduce -7.5% 0.13% −0.01
ASTS Ast Spacemobile Inc. Reduce -66.7% 0.02% −0.01
ARI Apollo Commercial Real Estat Reduce -12.7% 0.04% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -3.3% 0.15% −0.01
VYM Vanguard High DVD Yield ETF Reduce -2.3% 0.11% −0.01
JEPI JPMorgan Equity Premium Inco Reduce -3.4% 0.06% −0.01
XLRE SS Real Estate Select Sector Reduce -3.6% 0.05% −0.01
ATO Atmos Energy Corp. Reduce -2.5% 0.05% −0.01
DGRW Wisdomtree U.S. Quality Divi Reduce -15.3% 0.02% −0.01
MCD McDonald's Corp. Reduce -2.8% 0.03% −0.01

Portfolio Buys Q1 2025 → Q2 2025
XLY SS Consumer Disc Select Sect New 1.06% +1.06
NVDA Nvidia Corp. Add +18.4% 2.81% +1.06
MSFT Microsoft Corp. Add +0.2% 4.88% +0.93
KDP Keurig Dr Pepper Inc. New 0.39% +0.39
IVV iShares Core S&P 500 ETF Add +7.9% 3.45% +0.34
META Meta Platforms Inc. Class A Add +11.8% 1.31% +0.32
EMR Emerson Electric Co. Add +0.6% 2.09% +0.25
MCHP Microchip Technology Inc. Add +2.8% 0.77% +0.22
XLC SS Comm Select Sector SPDR Add +105.3% 0.37% +0.20
JPM JPMorgan Chase & Co. Add +1.3% 1.89% +0.19
AMZN Amazon.com Inc. Add +1.2% 2.42% +0.19
XLK SS Technology Select Sector Add +76.9% 0.33% +0.17
EEM iShares MSCI Emerging Market New 0.16% +0.16
XLF SS Financial Select Sector Add +26.6% 0.81% +0.15
VSLU Applied Finance Valuat ETF Add +1.4% 2.34% +0.12
LLY Eli Lilly & Co. Add +114.0% 0.25% +0.12
VRT Vertiv Holdings Co. Class A Add +156.6% 0.13% +0.10
AMD Advanced Micro Devices Add +78.0% 0.13% +0.08
THO Thor Industries Inc. Add +1.8% 0.77% +0.08
PLTR Palantir Technologies Inc. Class A Add +68.4% 0.10% +0.06
CSX CSX Corp. Add +4.8% 0.80% +0.06
JPST JPMorgan Ultra-Short Income Add +30.8% 0.28% +0.05
TSLA Tesla Inc. Add +5.2% 0.29% +0.05
GSLC Goldman Activebeta US LC ETF Add +1.3% 1.06% +0.04
HON Honeywell International Inc. Add +1.0% 1.11% +0.04
RBRK Rubrik Inc. Class A New 0.03% +0.03
AMP Ameriprise Financial Inc. Add +0.4% 1.14% +0.03
ZS Zscaler Inc. New 0.03% +0.03
XJH Ishare ESG SS S&P Midcap ETF New 0.03% +0.03
TSCO Tractor Supply Company New 0.03% +0.03
CRWD CrowdStrike Holdings Inc. Class A New 0.03% +0.03
EFIV SS SPDR S&P 500 ESG ETF New 0.02% +0.02
UBER Uber Technologies Inc. New 0.02% +0.02
TW Tradeweb Markets Inc. Class A New 0.02% +0.02
NUBD Nuveen ESG US Aggregate Bond New 0.02% +0.02
MU Micron Technology Inc. New 0.02% +0.02
NFLX Netflix Inc. Add +32.4% 0.05% +0.02
COST Costco Wholesale Corp. Add +13.2% 0.22% +0.02
NUE Nucor Corp. New 0.02% +0.02
FCX Freeport-McMoran Inc. New 0.02% +0.02
ETN Eaton Corp. PLC New 0.02% +0.02
SO The Southern Co. Add +46.1% 0.07% +0.02
BA The Boeing Co. New 0.02% +0.02
ESGV Vanguard ESG US Stock ETF Add +16.1% 0.10% +0.02
ASML ASML Holding NV-NY Reg SHS New 0.02% +0.02
IWB iShares Russell 1000 ETF New 0.02% +0.02
ENB Enbridge Inc. New 0.02% +0.02
BSCX Invesco Bulletshares 2033 CB Add +19.5% 0.13% +0.02
BSCY Invesco Bulletshares 2034 CB Add +26.6% 0.08% +0.01
IVZ Invesco Ltd. Add +83.3% 0.03% +0.01

Notes & Other Activity Q1 2025 → Q2 2025
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Sold out 529 $653Kbefore exit
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L · principal New 524 $636

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 209$1.4BSPY, AAPL, IVV, GOOGL, XLK
Q1 2026 194$1.3BSPY, AAPL, IVV, MSFT, GOOGL
Q4 2025 194$1.3BSPY, AAPL, MSFT, GOOGL, IVV
Q3 2025 192$1.3BSPY, MSFT, AAPL, IVV, AVGO
Q2 2025 196$1.2BSPY, MSFT, IVV, AVGO, AAPL
Q1 2025 187$1.1BSPY, MSFT, AAPL, IVV, WMT
Q4 2024 185$1.2BSPY, MSFT, AAPL, AVGO, IVV
Q3 2024 190$1.2BSPY, MSFT, AAPL, IVV, WMT
Q2 2024 186$1.1BSPY, MSFT, AAPL, IVV, GOOGL
Q1 2024 182$1.1BSPY, MSFT, AAPL, IVV, GOOGL