Novare Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Novare Capital Management LLC reported 192 stock positions worth $1.3 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 6.1% of the portfolio, followed by Microsoft (MSFT, 4.7%) and Apple (AAPL, 4.4%). Compared with Q2 2025, it opened 9 new positions, sold out of 13, added to 70 and reduced 87. The biggest buy was Apple (AAPL, shares +21%) and the biggest sale Thor Industries (THO, shares −90%).
- Most Recent 13F
- Q2 2026
- Location
- CHARLOTTE, NC
- CIK
- 0001388409
- Portfolio Value
- $1.3B (Q3 2025)
- SEC Filing
- 0001951757-25-001264 ↗ filed Nov 3, 2025
Holdings Value
Holdings 192 stocks · $1.3B
| SPY SS SPDR S&P 500 ETF Trust-US | 6.07% | 119,518 | $79.6M | Add +18.8% |
| MSFT Microsoft Corp. | 4.72% | 119,678 | $62.0M | Reduce -0.7% |
| AAPL Apple Inc. | 4.41% | 227,522 | $57.9M | Add +21.4% |
| IVV iShares Core S&P 500 ETF | 3.57% | 70,075 | $46.9M | Add +2.6% |
| AVGO Broadcom Inc. | 3.48% | 138,259 | $45.6M | Reduce -9.1% |
| GOOGL Alphabet Inc. Class A | 3.22% | 174,084 | $42.3M | Reduce -0.5% |
| NVDA Nvidia Corp. | 3.13% | 220,312 | $41.1M | Add +0.9% |
| WMT Walmart Inc. | 2.67% | 339,924 | $35.0M | Reduce -2.9% |
| VSLU Applied Finance Valuat ETF | 2.60% | 798,728 | $34.1M | Add +8.8% |
| AMZN Amazon.com Inc. | 2.28% | 136,186 | $29.9M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.94% | 50,756 | $25.5M | Reduce -4.1% |
| EMR Emerson Electric Co. | 1.91% | 190,915 | $25.0M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 1.91% | 79,308 | $25.0M | Reduce -1.3% |
| JNJ Johnson & Johnson | 1.72% | 121,448 | $22.5M | Reduce -0.0% |
| UNH Unitedhealth Group Inc. | 1.49% | 56,511 | $19.5M | Add +5.6% |
| VZ Verizon Communications Inc. | 1.47% | 438,275 | $19.3M | Reduce -1.3% |
| ROP Roper Technologies Inc. | 1.42% | 37,375 | $18.6M | Reduce -0.3% |
| RTX RTX Corp. | 1.34% | 104,812 | $17.5M | Reduce -0.8% |
| XLY SS Consumer Disc Select Sect | 1.31% | 71,629 | $17.2M | Add +19.1% |
| META Meta Platforms Inc. Class A | 1.24% | 22,164 | $16.3M | Add +1.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.23% | 147,578 | $16.1M | Reduce -7.7% |
| ACN Accenture PLC Class A | 1.22% | 65,085 | $16.1M | Reduce -2.9% |
| CMI Cummins Inc. | 1.14% | 35,430 | $15.0M | Reduce -4.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.10% | 100,195 | $14.5M | Reduce -1.4% |
| HD Home Depot Inc. | 1.06% | 34,322 | $13.9M | Reduce -1.6% |
| GSLC Goldman Activebeta US LC ETF | 1.06% | 106,561 | $13.9M | Reduce -0.8% |
| ABT Abbott Laboratories | 1.05% | 103,055 | $13.8M | Reduce -1.5% |
| LHX L3HARRIS Technologies Inc. | 1.03% | 44,351 | $13.5M | Reduce -4.0% |
| CSCO Cisco Systems Inc. | 1.02% | 195,348 | $13.4M | Reduce -3.4% |
| ABBV Abbvie Inc. | 1.02% | 57,679 | $13.4M | Reduce -1.1% |
| AME Ametek Inc. | 1.01% | 70,667 | $13.3M | Reduce -1.1% |
| SYK Stryker Corp. | 1.00% | 35,437 | $13.1M | Reduce -0.0% |
| ZTS Zoetis Inc. | 0.98% | 87,733 | $12.8M | Reduce -8.8% |
| AMP Ameriprise Financial Inc. | 0.95% | 25,442 | $12.5M | Reduce -3.4% |
| CHRW C.H. Robinson Worldwide Inc. | 0.95% | 94,184 | $12.5M | Reduce -3.1% |
| HON Honeywell International Inc. | 0.94% | 58,362 | $12.3M | Reduce -0.1% |
| TMO Thermo Fisher Scientific Inc. | 0.93% | 25,275 | $12.3M | Add +3.2% |
| XLK SS Technology Select Sector | 0.93% | 43,419 | $12.2M | Add +168.7% |
| V Visa Inc. Class A | 0.91% | 35,174 | $12.0M | Add +0.3% |
| LOW Lowe's Cos Inc. | 0.91% | 47,613 | $12.0M | Reduce -1.4% |
| AMLP Alerian MLP ETF | 0.86% | 240,075 | $11.3M | Reduce -2.1% |
| ICE Intercontinental Exchange Inc. | 0.84% | 65,691 | $11.1M | Reduce -3.5% |
| CSX CSX Corp. | 0.81% | 297,671 | $10.6M | Reduce -0.7% |
| MOAT Vaneck Morningstar Wide Moat | 0.80% | 106,146 | $10.5M | Add +0.9% |
| ADBE Adobe Inc. | 0.79% | 29,486 | $10.4M | Reduce -8.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.79% | 17,254 | $10.4M | Add +24.3% |
| TXN Texas Instruments Inc. | 0.78% | 55,366 | $10.2M | Reduce -5.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.77% | 196,394 | $10.1M | Reduce -6.0% |
| IVW iShares S&P 500 Growth ETF | 0.77% | 83,441 | $10.1M | Add +6.7% |
| CVX Chevron Corp. | 0.74% | 62,273 | $9.7M | Add +1.1% |
| O Realty Income Corp. | 0.72% | 154,534 | $9.4M | Add +1.6% |
| MRK Merck & Co. Inc. | 0.71% | 111,784 | $9.4M | Reduce -7.0% |
| IJH iShares Core S&P Midcap ETF | 0.71% | 141,971 | $9.3M | Add +1.6% |
| PEP Pepsico Inc. | 0.66% | 61,294 | $8.6M | Reduce -2.3% |
| MCHP Microchip Technology Inc. | 0.65% | 133,421 | $8.6M | Reduce -1.2% |
| NEE Nextera Energy Inc. | 0.64% | 112,000 | $8.5M | Reduce -4.5% |
| CSL Carlisle Cos Inc. | 0.63% | 25,290 | $8.3M | New |
| XLF SS Financial Select Sector | 0.63% | 154,404 | $8.3M | Reduce -18.4% |
| CRM Salesforce Inc. | 0.63% | 34,622 | $8.2M | Add +0.0% |
| KVUE Kenvue Inc. | 0.60% | 481,795 | $7.8M | Add +0.2% |
| XLP SS Consumer Staples Sel Sect | 0.59% | 98,562 | $7.7M | Reduce -0.2% |
| TSLA Tesla Inc. | 0.58% | 17,147 | $7.6M | Add +55.3% |
| XLE SS Energy Select Sector | 0.51% | 74,835 | $6.7M | Reduce -4.1% |
| AMT American Tower Corp. | 0.50% | 33,992 | $6.5M | Reduce -6.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.35% | 57,247 | $4.6M | Reduce -0.1% |
| SCHB Schwab US Broad Market ETF | 0.33% | 169,749 | $4.4M | Add +0.3% |
| JPST JPMorgan Ultra-Short Income | 0.31% | 79,818 | $4.0M | Add +17.1% |
| FDUS Fidus Investment Corp. | 0.31% | 199,839 | $4.0M | Add +5.0% |
| BSCT Invesco Bulletshares 2029 CB | 0.28% | 193,281 | $3.6M | Add +4.2% |
| BSCR Invesco Bulletshares 2027 CB | 0.27% | 177,952 | $3.5M | Add +2.2% |
| BSCU Invesco Bulletshares 2030 CB | 0.25% | 192,049 | $3.2M | Add +8.1% |
| XLC SS Comm Select Sector SPDR | 0.24% | 26,757 | $3.2M | Reduce -36.4% |
| LLY Eli Lilly & Co. | 0.24% | 4,127 | $3.1M | Add +3.2% |
| BSCS Invesco Bulletshares 2028 CB | 0.23% | 147,091 | $3.0M | Add +1.8% |
| BSCV Invesco Bulletshares 2031 CB | 0.23% | 178,506 | $3.0M | Add +17.2% |
| VFH Vanguard Financials ETF | 0.22% | 22,257 | $2.9M | Reduce -0.3% |
| BSCQ Invesco Bulletshares 2026 CB | 0.22% | 148,730 | $2.9M | Reduce -0.4% |
| DLR Digital Realty Trust Inc. | 0.21% | 16,118 | $2.8M | Reduce -22.9% |
| SOXX iShares Semiconductor ETF | 0.21% | 9,974 | $2.7M | Reduce -14.5% |
| CGBD Carlyle Secured Lending Inc. | 0.19% | 204,650 | $2.6M | Add +5.1% |
| COST Costco Wholesale Corp. | 0.19% | 2,736 | $2.5M | Reduce -1.8% |
| BSCW Invesco Bulletshares 2032 CB | 0.18% | 113,705 | $2.4M | Add +14.6% |
| VRT Vertiv Holdings Co. Class A | 0.18% | 15,336 | $2.3M | Add +24.8% |
| VDC Vanguard Consumer Staple ETF | 0.17% | 10,452 | $2.2M | Reduce -0.4% |
| BSCX Invesco Bulletshares 2033 CB | 0.17% | 102,062 | $2.2M | Add +31.5% |
| FALN iShares Fallen Angels ETF | 0.17% | 78,279 | $2.2M | Add +6.1% |
| VIG Vanguard Dividend Apprec ETF | 0.15% | 9,280 | $2.0M | Add +1.5% |
| BKNG Booking Holdings Inc. | 0.15% | 366 | $2.0M | Reduce -9.0% |
| VOO Vanguard S&P 500 ETF | 0.15% | 3,191 | $2.0M | Reduce -2.9% |
| AMD Advanced Micro Devices | 0.15% | 11,948 | $1.9M | Add +2.8% |
| SCHX Schwab US Large-Cap ETF | 0.15% | 73,278 | $1.9M | Reduce -0.3% |
| INTU Intuit Inc. | 0.14% | 2,754 | $1.9M | Add +3.2% |
| TFC Truist Financial Corp. | 0.14% | 39,334 | $1.8M | Reduce -10.7% |
| WSM Williams-Sonoma Inc. | 0.14% | 9,154 | $1.8M | Reduce -0.5% |
| PRF Invesco Rafi US 1000 ETF | 0.13% | 38,976 | $1.8M | No change |
| SCHM Schwab US Mid Cap ETF | 0.12% | 53,965 | $1.6M | Reduce -6.0% |
| DUK Duke Energy Corp. | 0.12% | 12,910 | $1.6M | Add +0.5% |
| XOM Exxon Mobil Corp. | 0.12% | 13,896 | $1.6M | Reduce -4.2% |
| PANW Palo Alto Networks Inc. | 0.12% | 7,650 | $1.6M | Add +34.1% |
| PLTR Palantir Technologies Inc. Class A | 0.12% | 8,305 | $1.5M | Reduce -7.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $671K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 524 | $671K | New |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q2 2025 → Q3 2025
| THO Thor Industries Inc. | Reduce -90.3% | 0.08% | −0.68 |
| CMCSA Comcast Corp. Class A | Reduce -95.2% | 0.02% | −0.54 |
| ACN Accenture PLC Class A | Reduce -2.9% | 1.22% | −0.41 |
| KDP Keurig Dr Pepper Inc. | Reduce -86.2% | 0.04% | −0.35 |
| ROP Roper Technologies Inc. | Reduce -0.3% | 1.42% | −0.31 |
| CVS CVS Health Corp. | Reduce -89.3% | 0.03% | −0.25 |
| ZTS Zoetis Inc. | Reduce -8.8% | 0.98% | −0.24 |
| TXN Texas Instruments Inc. | Reduce -5.8% | 0.78% | −0.22 |
| ADBE Adobe Inc. | Reduce -8.1% | 0.79% | −0.22 |
| AMP Ameriprise Financial Inc. | Reduce -3.4% | 0.95% | −0.19 |
| EMR Emerson Electric Co. | Reduce -1.2% | 1.91% | −0.19 |
| MTCH Match Group Inc. | Reduce -91.9% | 0.02% | −0.18 |
| ICE Intercontinental Exchange Inc. | Reduce -3.5% | 0.84% | −0.17 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -73.2% | 0.06% | −0.17 |
| XLF SS Financial Select Sector | Reduce -18.4% | 0.63% | −0.17 |
| HON Honeywell International Inc. | Reduce -0.1% | 0.94% | −0.17 |
| AMT American Tower Corp. | Reduce -6.3% | 0.50% | −0.15 |
| MSFT Microsoft Corp. | Reduce -0.7% | 4.72% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.1% | 1.94% | −0.15 |
| EEM iShares MSCI Emerging Market | Reduce -89.3% | 0.02% | −0.14 |
| SYK Stryker Corp. | Reduce -0.0% | 1.00% | −0.14 |
| XLC SS Comm Select Sector SPDR | Reduce -36.4% | 0.24% | −0.13 |
| CSCO Cisco Systems Inc. | Reduce -3.4% | 1.02% | −0.12 |
| MCHP Microchip Technology Inc. | Reduce -1.2% | 0.65% | −0.12 |
| AMLP Alerian MLP ETF | Reduce -2.1% | 0.86% | −0.12 |
| WMT Walmart Inc. | Reduce -2.9% | 2.67% | −0.11 |
| ABT Abbott Laboratories | Reduce -1.5% | 1.05% | −0.11 |
| VZ Verizon Communications Inc. | Reduce -1.3% | 1.47% | −0.09 |
| DLR Digital Realty Trust Inc. | Reduce -22.9% | 0.21% | −0.08 |
| XLP SS Consumer Staples Sel Sect | Reduce -0.2% | 0.59% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -7.0% | 0.71% | −0.06 |
| QSR Restaurant Brands Intern | Sold out | 0.00% | −0.05 |
| AME Ametek Inc. | Reduce -1.1% | 1.01% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -9.0% | 0.15% | −0.04 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.03 |
| ZS Zscaler Inc. | Sold out | 0.00% | −0.03 |
| BAC Bank of America Corp. | Reduce -6.0% | 0.77% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -1.8% | 0.19% | −0.03 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.03 |
| XLE SS Energy Select Sector | Reduce -4.1% | 0.51% | −0.03 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -42.7% | 0.04% | −0.03 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.03 |
| JEPI JPMorgan Equity Premium Inco | Reduce -40.7% | 0.03% | −0.03 |
| ET Energy Transfer LP | Sold out | 0.00% | −0.02 |
| SO The Southern Co. | Reduce -30.3% | 0.05% | −0.02 |
| NUBD Nuveen ESG US Aggregate Bond | Sold out | 0.00% | −0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -0.1% | 0.35% | −0.02 |
| FTV Fortive Corp. | Sold out | 0.00% | −0.02 |
| SOXX iShares Semiconductor ETF | Reduce -14.5% | 0.21% | −0.02 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +21.4% | 4.41% | +1.29 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +18.8% | 6.07% | +1.01 |
| CSL Carlisle Cos Inc. | New | 0.63% | +0.63 |
| XLK SS Technology Select Sector | Add +168.7% | 0.93% | +0.60 |
| NVDA Nvidia Corp. | Add +0.9% | 3.13% | +0.33 |
| TSLA Tesla Inc. | Add +55.3% | 0.58% | +0.30 |
| VSLU Applied Finance Valuat ETF | Add +8.8% | 2.60% | +0.26 |
| XLY SS Consumer Disc Select Sect | Add +19.1% | 1.31% | +0.24 |
| QQQ Invesco QQQ Trust Series 1 | Add +24.3% | 0.79% | +0.17 |
| UNH Unitedhealth Group Inc. | Add +5.6% | 1.49% | +0.13 |
| TMO Thermo Fisher Scientific Inc. | Add +3.2% | 0.93% | +0.13 |
| IVV iShares Core S&P 500 ETF | Add +2.6% | 3.57% | +0.13 |
| IVW iShares S&P 500 Growth ETF | Add +6.7% | 0.77% | +0.07 |
| VRT Vertiv Holdings Co. Class A | Add +24.8% | 0.18% | +0.05 |
| BSCZ Invesco Bulletshares 2035 CB | New | 0.04% | +0.04 |
| BSCX Invesco Bulletshares 2033 CB | Add +31.5% | 0.17% | +0.03 |
| JPST JPMorgan Ultra-Short Income | Add +17.1% | 0.31% | +0.03 |
| PROSHARES TR II | New | 0.03% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +34.1% | 0.12% | +0.02 |
| XLRE SS Real Estate Select Sector | Add +55.2% | 0.07% | +0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +86.3% | 0.05% | +0.02 |
| QXO Qxo Inc. | New | 0.02% | +0.02 |
| BINC iShares Flex I A ETF-Usd Inc. | New | 0.02% | +0.02 |
| BSCV Invesco Bulletshares 2031 CB | Add +17.2% | 0.23% | +0.02 |
| BSCY Invesco Bulletshares 2034 CB | Add +34.5% | 0.10% | +0.02 |
| CVX Chevron Corp. | Add +1.1% | 0.74% | +0.02 |
| ORCL Oracle Corp. | Add +0.5% | 0.11% | +0.02 |
| BDX Becton Dickinson and Co. | New | 0.02% | +0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.02% | +0.02 |
| ARI Apollo Commercial Real Estat | Add +43.2% | 0.06% | +0.02 |
| DHR Danaher Corp. | New | 0.02% | +0.02 |
| SHYG iShares 0-5 YR HY Corp. Bond | New | 0.02% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +37.0% | 0.06% | +0.01 |
| BSCW Invesco Bulletshares 2032 CB | Add +14.6% | 0.18% | +0.01 |
| XLV SS Health Care Select Sector | Add +62.6% | 0.04% | +0.01 |
| AMD Advanced Micro Devices | Add +2.8% | 0.15% | +0.01 |
| FTNT Fortinet Inc. | Add +108.0% | 0.03% | +0.01 |
| UBER Uber Technologies Inc. | Add +36.0% | 0.03% | +0.01 |
| AMGN Amgen Inc. | Add +32.7% | 0.03% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.9% | 0.03% | +0.01 |
| BSCU Invesco Bulletshares 2030 CB | Add +8.1% | 0.25% | +0.00 |
| SCHB Schwab US Broad Market ETF | Add +0.3% | 0.33% | +0.00 |
| O Realty Income Corp. | Add +1.6% | 0.72% | +0.00 |
| FALN iShares Fallen Angels ETF | Add +6.1% | 0.17% | +0.00 |
| SPG Simon Property Group Inc. | Add +0.9% | 0.03% | +0.00 |
| ASML ASML Holding NV-NY Reg SHS | Add +1.1% | 0.02% | +0.00 |
| AEP American Electric Power | Add +7.7% | 0.03% | +0.00 |
| ESGV Vanguard ESG US Stock ETF | Add +1.1% | 0.10% | +0.00 |
| ETN Eaton Corp. PLC | Add +14.0% | 0.02% | +0.00 |
| WFC Wells Fargo & Co. | Add +6.8% | 0.04% | +0.00 |
Notes & Other Activity Q2 2025 → Q3 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | New | 524 | $671K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L · principal | Sold out | 524 | $636before exit |
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 |