Novare Capital Management LLC

Name: NOVARE CAPITAL MANAGEMENT LLC 13F holdings, Q3 2025
Creator: NOVARE CAPITAL MANAGEMENT LLC
Published: 2025-11-03

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

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%
ORCL Oracle Corp.	0.11%	5,138	$1.4M	Add +0.5%
PG The Procter & Gamble Co.	0.11%	9,263	$1.4M	Reduce -5.5%
VYM Vanguard High DVD Yield ETF	0.11%	10,068	$1.4M	Reduce -0.3%
BWMN Bowman Consulting Group Ltd.	0.11%	32,600	$1.4M	Reduce -31.1%
IGV iShares Expanded Tech-Softwa	0.10%	11,850	$1.4M	Reduce -1.9%
ESGV Vanguard ESG US Stock ETF	0.10%	11,475	$1.4M	Add +1.1%
AZO AutoZone Inc.	0.10%	309	$1.3M	No change
BSCY Invesco Bulletshares 2034 CB	0.10%	61,318	$1.3M	Add +34.5%
RY Royal Bank of Canada	0.09%	7,837	$1.2M	No change
SCHW Schwab (charles) Corp.	0.08%	11,535	$1.1M	No change
KO The Coca-Cola Co.	0.08%	16,430	$1.1M	Add +1.2%
SMH Vaneck Semiconductor ETF	0.08%	3,335	$1.1M	Reduce -14.7%
GOOG Alphabet Inc. Class C	0.08%	4,427	$1.1M	Reduce -3.2%
VOOG Vanguard S&P 500 Growth ETF	0.08%	2,464	$1.1M	No change
THO Thor Industries Inc.	0.08%	10,319	$1.1M	Reduce -90.3%
VCIT Vanguard Int-Term Corporate	0.08%	12,153	$1.0M	Add +3.1%
T AT&T Inc.	0.08%	35,164	$993K	Add +4.8%
XLRE SS Real Estate Select Sector	0.07%	22,782	$960K	Add +55.2%
LMT Lockheed Martin Corp.	0.07%	1,766	$882K	No change
VCEB Vanguard ESG US Corp. Bond	0.06%	13,090	$840K	Add +1.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.06%	2,838	$801K	Add +1.6%
SUSB iShares ESG Aware 1-5 Year U	0.06%	30,115	$762K	Add +8.9%
EAGG iShares ESG Aware US Aggrega	0.06%	15,847	$761K	Add +0.3%
BSCP Invesco Bulletshares 2025 CB	0.06%	36,734	$760K	Reduce -73.2%
RSP Invesco S&P 500 Equal Weight	0.06%	3,999	$759K	Add +37.0%
ARI Apollo Commercial Real Estat	0.06%	72,675	$736K	Add +43.2%
VV Vngrd Mrgstr LRG-Cap ETF-Usd	0.05%	2,332	$718K	Add +0.5%
ATO Atmos Energy Corp.	0.05%	3,900	$666K	No change
XLU St Sr Utl SL SE SPDR ETF-Usd	0.05%	7,528	$657K	Add +86.3%
SO The Southern Co.	0.05%	6,830	$647K	Reduce -30.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.05%	5,565	$637K	Reduce -0.6%
BSCZ Invesco Bulletshares 2035 CB	0.04%	25,721	$535K	New
VTI VG Morningstar TS MKT ETF-US	0.04%	1,591	$522K	Reduce -0.3%
WFC Wells Fargo & Co.	0.04%	6,180	$518K	Add +6.8%
XLV SS Health Care Select Sector	0.04%	3,644	$507K	Add +62.6%
KDP Keurig Dr Pepper Inc.	0.04%	19,875	$507K	Reduce -86.2%
IVZ Invesco Ltd.	0.04%	22,000	$505K	No change
GPN Global Payments Inc.	0.04%	5,985	$497K	Reduce -0.2%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	0.04%	8,190	$471K	Reduce -42.7%
NFLX Netflix Inc.	0.04%	390	$468K	Reduce -11.6%
SUSL iShares ESG MSCI USA Leaders	0.03%	3,885	$455K	No change
FTNT Fortinet Inc.	0.03%	5,407	$455K	Add +108.0%
TSM Taiwan Semiconductor-SP ADR	0.03%	1,562	$436K	Add +1.9%
RBRK Rubrik Inc. Class A	0.03%	5,280	$434K	Add +17.1%
CAT Caterpillar Inc.	0.03%	910	$434K	No change
JEPI JPMorgan Equity Premium Inco	0.03%	7,405	$423K	Reduce -40.7%
UBER Uber Technologies Inc.	0.03%	4,215	$413K	Add +36.0%
SPG Simon Property Group Inc.	0.03%	2,184	$410K	Add +0.9%
ENVA Enova International Inc.	0.03%	3,500	$403K	No change
CVS CVS Health Corp.	0.03%	5,280	$398K	Reduce -89.3%
XJH Ishare ESG SS S&P Midcap ETF	0.03%	8,532	$374K	Reduce -2.1%
IWF iShares Russell 1000 Growth	0.03%	786	$368K	No change
AMGN Amgen Inc.	0.03%	1,299	$367K	Add +32.7%
TSCO Tractor Supply Company	0.03%	6,414	$365K	Reduce -1.2%
MCD McDonald's Corp.	0.03%	1,176	$357K	Add +1.8%
FITB Fifth Third Bancorp	0.03%	8,017	$357K	Reduce -8.6%
AEP American Electric Power	0.03%	3,174	$357K	Add +7.7%
MU Micron Technology Inc.	0.03%	2,125	$356K	No change
PROSHARES TR II	0.03%	32,200	$336K	New
RJF Raymond James Financial Inc.	0.02%	1,884	$325K	No change
EFIV SS SPDR S&P 500 ESG ETF	0.02%	5,093	$324K	No change
MDY State Street SPDR S&P Midcap	0.02%	541	$322K	No change
DGRW Wisdomtree U.S. Quality Divi	0.02%	3,605	$321K	No change
CRWD CrowdStrike Holdings Inc. Class A	0.02%	637	$312K	No change
XLB SS Materials Select Sector	0.02%	3,445	$309K	Add +12.8%
ESGU iShares ESG Aware MSCI USA	0.02%	2,095	$305K	No change
QXO Qxo Inc.	0.02%	15,582	$297K	New
CMCSA Comcast Corp. Class A	0.02%	9,341	$293K	Reduce -95.2%
BINC iShares Flex I A ETF-Usd Inc.	0.02%	5,500	$293K	New
ETN Eaton Corp. PLC	0.02%	764	$286K	Add +14.0%
TW Tradeweb Markets Inc. Class A	0.02%	2,500	$277K	Add +31.6%
VTV Vanguard Mrngstr Val ETF-Aui	0.02%	1,440	$269K	No change
AXP American Express Co.	0.02%	798	$265K	Reduce -10.0%
ASML ASML Holding NV-NY Reg SHS	0.02%	271	$263K	Add +1.1%
HSY The Hershey Co.	0.02%	1,395	$261K	No change
GLD SPDR Gold Shares	0.02%	708	$252K	No change
ASTS Ast Spacemobile Inc.	0.02%	5,000	$245K	No change
BA The Boeing Co.	0.02%	1,118	$241K	Reduce -0.5%
EEM iShares MSCI Emerging Market	0.02%	4,375	$234K	Reduce -89.3%
BX Blackstone Inc.	0.02%	1,355	$232K	Reduce -10.0%
IWB iShares Russell 1000 ETF	0.02%	632	$231K	No change
ISRG Intuitive Surgical Inc.	0.02%	507	$227K	Reduce -0.6%
NVO Novo-Nordisk A/S-Spons ADR	0.02%	4,046	$224K	Add +18.2%
BDX Becton Dickinson and Co.	0.02%	1,185	$222K	New
MTCH Match Group Inc.	0.02%	6,200	$219K	Reduce -91.9%
VB Vanguard Most SM-Cap ETF-Usd	0.02%	856	$218K	New
BMY Bristol-Myers Squibb Co.	0.02%	4,655	$210K	Reduce -13.9%
MA Mastercard Inc. Class A	0.02%	368	$209K	No change
DHR Danaher Corp.	0.02%	1,039	$206K	New
SHYG iShares 0-5 YR HY Corp. Bond	0.02%	4,655	$202K	New
KMB Kimberly-Clark Corp.	0.02%	1,611	$200K	Reduce -3.2%
PDM Piedmont Realty Trust Inc.	0.01%	13,683	$123K	No change

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