Novare Capital Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Novare Capital Management LLC reported 194 stock positions worth $1.3 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 5.7% of the portfolio, followed by Apple (AAPL, 4.6%) and Microsoft (MSFT, 4.3%). Compared with Q3 2025, it opened 14 new positions, sold out of 12, added to 83 and reduced 74. The biggest buy was Visa Class A (V, shares +61%) and the biggest sale Zoetis (ZTS, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- CHARLOTTE, NC
- CIK
- 0001388409
- Portfolio Value
- $1.3B (Q4 2025)
- SEC Filing
- 0001951757-26-000360 ↗ filed Feb 5, 2026
Holdings Value
Holdings 194 stocks · $1.3B
| SPY SS SPDR S&P 500 ETF Trust-US | 5.69% | 111,299 | $75.9M | Reduce -6.9% |
| AAPL Apple Inc. | 4.64% | 227,651 | $61.9M | Add +0.1% |
| MSFT Microsoft Corp. | 4.34% | 119,756 | $57.9M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 4.02% | 171,423 | $53.7M | Reduce -1.5% |
| IVV iShares Core S&P 500 ETF | 3.67% | 71,404 | $48.9M | Add +1.9% |
| AVGO Broadcom Inc. | 3.44% | 132,578 | $45.9M | Reduce -4.1% |
| NVDA Nvidia Corp. | 3.11% | 222,358 | $41.5M | Add +0.9% |
| WMT Walmart Inc. | 2.81% | 336,784 | $37.5M | Reduce -0.9% |
| VSLU Applied Finance Valuat ETF | 2.71% | 815,930 | $36.1M | Add +2.1% |
| AMZN Amazon.com Inc. | 2.34% | 134,987 | $31.2M | Reduce -0.9% |
| JPM JPMorgan Chase & Co. | 1.93% | 79,738 | $25.7M | Add +0.5% |
| EMR Emerson Electric Co. | 1.91% | 191,897 | $25.5M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.88% | 49,765 | $25.0M | Reduce -1.9% |
| JNJ Johnson & Johnson | 1.86% | 119,907 | $24.8M | Reduce -1.3% |
| V Visa Inc. Class A | 1.49% | 56,801 | $19.9M | Add +61.5% |
| RTX RTX Corp. | 1.43% | 103,868 | $19.0M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 1.41% | 56,838 | $18.8M | Add +0.6% |
| XLK SS Technology Select Sector | 1.36% | 125,924 | $18.1M | Add +45.0% |
| VZ Verizon Communications Inc. | 1.34% | 438,580 | $17.9M | Add +0.1% |
| CMI Cummins Inc. | 1.30% | 34,067 | $17.4M | Reduce -3.9% |
| XLY SS Consumer Disc Select Sect | 1.29% | 144,400 | $17.2M | Add +0.8% |
| ROP Roper Technologies Inc. | 1.28% | 38,356 | $17.1M | Add +2.6% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.24% | 142,617 | $16.6M | Reduce -3.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.15% | 99,756 | $15.3M | Reduce -0.4% |
| ACN Accenture PLC Class A | 1.14% | 56,768 | $15.2M | Reduce -12.8% |
| CSCO Cisco Systems Inc. | 1.12% | 194,660 | $15.0M | Reduce -0.3% |
| TMO Thermo Fisher Scientific Inc. | 1.10% | 25,376 | $14.7M | Add +0.4% |
| AME Ametek Inc. | 1.08% | 70,168 | $14.4M | Reduce -0.7% |
| GSLC Goldman Activebeta US LC ETF | 1.07% | 108,338 | $14.3M | Add +1.7% |
| META Meta Platforms Inc. Class A | 1.07% | 21,585 | $14.2M | Reduce -2.6% |
| CHRW C.H. Robinson Worldwide Inc. | 1.07% | 88,473 | $14.2M | Reduce -6.1% |
| SYK Stryker Corp. | 1.02% | 38,571 | $13.6M | Add +8.8% |
| ABT Abbott Laboratories | 0.98% | 104,349 | $13.1M | Add +1.3% |
| ABBV Abbvie Inc. | 0.97% | 56,841 | $13.0M | Reduce -1.4% |
| LHX L3HARRIS Technologies Inc. | 0.96% | 43,571 | $12.8M | Reduce -1.8% |
| AMP Ameriprise Financial Inc. | 0.94% | 25,602 | $12.6M | Add +0.6% |
| MRK Merck & Co. Inc. | 0.89% | 113,106 | $11.9M | Add +1.2% |
| HD Home Depot Inc. | 0.89% | 34,314 | $11.8M | Reduce -0.0% |
| AMLP Alerian MLP ETF | 0.87% | 247,500 | $11.6M | Add +3.1% |
| LOW Lowe's Cos Inc. | 0.87% | 48,226 | $11.6M | Add +1.3% |
| HON Honeywell International Inc. | 0.85% | 57,990 | $11.3M | Reduce -0.6% |
| MOAT Vaneck Morningstar Wide Moat | 0.83% | 106,560 | $11.0M | Add +0.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.82% | 198,561 | $10.9M | Add +1.1% |
| ICE Intercontinental Exchange Inc. | 0.81% | 66,946 | $10.8M | Add +1.9% |
| CSX CSX Corp. | 0.81% | 298,850 | $10.8M | Add +0.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.77% | 16,635 | $10.2M | Reduce -3.6% |
| IVW iShares S&P 500 Growth ETF | 0.75% | 80,746 | $10.0M | Reduce -3.2% |
| TXN Texas Instruments Inc. | 0.72% | 55,095 | $9.6M | Reduce -0.5% |
| CVX Chevron Corp. | 0.72% | 62,608 | $9.5M | Add +0.5% |
| IJH iShares Core S&P Midcap ETF | 0.71% | 143,940 | $9.5M | Add +1.4% |
| CSL Carlisle Cos Inc. | 0.70% | 29,330 | $9.4M | Add +16.0% |
| CRM Salesforce Inc. | 0.70% | 35,245 | $9.3M | Add +1.8% |
| NEE Nextera Energy Inc. | 0.67% | 111,753 | $9.0M | Reduce -0.2% |
| PEP Pepsico Inc. | 0.67% | 61,858 | $8.9M | Add +0.9% |
| O Realty Income Corp. | 0.66% | 155,837 | $8.8M | Add +0.8% |
| XLF SS Financial Select Sector | 0.65% | 157,960 | $8.7M | Add +2.3% |
| MCHP Microchip Technology Inc. | 0.61% | 128,515 | $8.2M | Reduce -3.7% |
| TSLA Tesla Inc. | 0.61% | 18,045 | $8.1M | Add +5.2% |
| XLP SS Consumer Staples Sel Sect | 0.58% | 100,119 | $7.8M | Add +1.6% |
| ADBE Adobe Inc. | 0.56% | 21,202 | $7.4M | Reduce -28.1% |
| XLE SS Energy Select Sector | 0.49% | 147,228 | $6.6M | Reduce -1.6% |
| LLY Eli Lilly & Co. | 0.41% | 5,116 | $5.5M | Add +24.0% |
| AMT American Tower Corp. | 0.40% | 30,151 | $5.3M | Reduce -11.3% |
| ZTS Zoetis Inc. | 0.36% | 38,614 | $4.9M | Reduce -56.0% |
| JPST JPMorgan Ultra-Short Income | 0.35% | 93,523 | $4.7M | Add +17.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.34% | 57,415 | $4.6M | Add +0.3% |
| FDUS Fidus Investment Corp. | 0.30% | 204,889 | $4.0M | Add +2.5% |
| BSCT Invesco Bulletshares 2029 CB | 0.28% | 197,110 | $3.7M | Add +2.0% |
| BSCR Invesco Bulletshares 2027 CB | 0.27% | 182,174 | $3.6M | Add +2.4% |
| SCHB Schwab US Broad Market ETF | 0.26% | 131,936 | $3.5M | Reduce -22.3% |
| XLC SS Comm Select Sector SPDR | 0.25% | 28,530 | $3.4M | Add +6.6% |
| BSCU Invesco Bulletshares 2030 CB | 0.25% | 196,267 | $3.3M | Add +2.2% |
| BSCV Invesco Bulletshares 2031 CB | 0.24% | 194,149 | $3.2M | Add +8.8% |
| BSCS Invesco Bulletshares 2028 CB | 0.23% | 150,119 | $3.1M | Add +2.1% |
| CGBD Carlyle Secured Lending Inc. | 0.23% | 241,050 | $3.0M | Add +17.8% |
| VFH Vanguard Financials ETF | 0.22% | 21,664 | $2.9M | Reduce -2.7% |
| SOXX iShares Semiconductor ETF | 0.22% | 9,527 | $2.9M | Reduce -4.5% |
| BSCQ Invesco Bulletshares 2026 CB | 0.21% | 139,752 | $2.7M | Reduce -6.0% |
| BSCW Invesco Bulletshares 2032 CB | 0.18% | 116,675 | $2.4M | Add +2.6% |
| VRT Vertiv Holdings Co. Class A | 0.18% | 14,613 | $2.4M | Reduce -4.7% |
| COST Costco Wholesale Corp. | 0.17% | 2,686 | $2.3M | Reduce -1.8% |
| BSCX Invesco Bulletshares 2033 CB | 0.17% | 104,472 | $2.2M | Add +2.4% |
| FALN iShares Fallen Angels ETF | 0.17% | 81,579 | $2.2M | Add +4.2% |
| VDC Vanguard Consumer Staple ETF | 0.16% | 10,196 | $2.2M | Reduce -2.5% |
| VIG Vanguard Dividend Apprec ETF | 0.16% | 9,444 | $2.1M | Add +1.8% |
| AMD Advanced Micro Devices | 0.15% | 9,479 | $2.0M | Reduce -20.7% |
| DLR Digital Realty Trust Inc. | 0.15% | 12,889 | $2.0M | Reduce -20.0% |
| BKNG Booking Holdings Inc. | 0.15% | 366 | $2.0M | No change |
| TFC Truist Financial Corp. | 0.14% | 37,926 | $1.9M | Reduce -3.6% |
| PANW Palo Alto Networks Inc. | 0.14% | 9,845 | $1.8M | Add +28.7% |
| PRF Invesco Rafi US 1000 ETF | 0.13% | 36,826 | $1.7M | Reduce -5.5% |
| INTU Intuit Inc. | 0.13% | 2,584 | $1.7M | Reduce -6.2% |
| XOM Exxon Mobil Corp. | 0.12% | 13,595 | $1.6M | Reduce -2.2% |
| WSM Williams-Sonoma Inc. | 0.12% | 8,954 | $1.6M | Reduce -2.2% |
| PG The Procter & Gamble Co. | 0.12% | 10,990 | $1.6M | Add +18.6% |
| DUK Duke Energy Corp. | 0.12% | 13,220 | $1.5M | Add +2.4% |
| BSCY Invesco Bulletshares 2034 CB | 0.11% | 70,439 | $1.5M | Add +14.9% |
| VYM Vanguard High DVD Yield ETF | 0.11% | 10,060 | $1.4M | Reduce -0.1% |
| AZO AutoZone Inc. | 0.11% | 419 | $1.4M | Add +35.6% |
| IGV iShares Expanded Tech-Softwa | 0.10% | 13,100 | $1.4M | Add +10.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $631K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 504 | $631K | Reduce -3.8% |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q3 2025 → Q4 2025
| ZTS Zoetis Inc. | Reduce -56.0% | 0.36% | −0.61 |
| KVUE Kenvue Inc. | Reduce -96.7% | 0.02% | −0.58 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.9% | 5.69% | −0.38 |
| ADBE Adobe Inc. | Reduce -28.1% | 0.56% | −0.24 |
| HD Home Depot Inc. | Reduce -0.0% | 0.89% | −0.17 |
| META Meta Platforms Inc. Class A | Reduce -2.6% | 1.07% | −0.17 |
| AMT American Tower Corp. | Reduce -11.3% | 0.40% | −0.10 |
| HON Honeywell International Inc. | Reduce -0.6% | 0.85% | −0.09 |
| VOOG Vanguard S&P 500 Growth ETF | Sold out | 0.00% | −0.08 |
| ACN Accenture PLC Class A | Reduce -12.8% | 1.14% | −0.08 |
| VOO Vanguard S&P 500 ETF | Reduce -52.1% | 0.07% | −0.08 |
| SCHX Schwab US Large-Cap ETF | Reduce -52.5% | 0.07% | −0.08 |
| LHX L3HARRIS Technologies Inc. | Reduce -1.8% | 0.96% | −0.07 |
| SCHB Schwab US Broad Market ETF | Reduce -22.3% | 0.26% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.9% | 1.88% | −0.07 |
| DLR Digital Realty Trust Inc. | Reduce -20.0% | 0.15% | −0.06 |
| TXN Texas Instruments Inc. | Reduce -0.5% | 0.72% | −0.06 |
| BSCP Invesco Bulletshares 2025 CB | Sold out | 0.00% | −0.06 |
| SCHM Schwab US Mid Cap ETF | Reduce -38.3% | 0.08% | −0.05 |
| ABBV Abbvie Inc. | Reduce -1.4% | 0.97% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Reduce -69.3% | 0.02% | −0.04 |
| MCHP Microchip Technology Inc. | Reduce -3.7% | 0.61% | −0.04 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.04 |
| THO Thor Industries Inc. | Reduce -45.3% | 0.04% | −0.04 |
| AVGO Broadcom Inc. | Reduce -4.1% | 3.44% | −0.04 |
| ORCL Oracle Corp. | Reduce -0.2% | 0.07% | −0.04 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.03 |
| PROSHARES TR II | Sold out | 0.00% | −0.03 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -3.6% | 0.77% | −0.02 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.02 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.2% | 0.75% | −0.02 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -1.8% | 0.17% | −0.02 |
| ASTS Ast Spacemobile Inc. | Sold out | 0.00% | −0.02 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.02 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.02 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.02 |
| BSCQ Invesco Bulletshares 2026 CB | Reduce -6.0% | 0.21% | −0.02 |
| WSM Williams-Sonoma Inc. | Reduce -2.2% | 0.12% | −0.02 |
| XLE SS Energy Select Sector | Reduce -1.6% | 0.49% | −0.02 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.02 |
| INTU Intuit Inc. | Reduce -6.2% | 0.13% | −0.01 |
| CVS CVS Health Corp. | Reduce -49.9% | 0.02% | −0.01 |
| JEPI JPMorgan Equity Premium Inco | Reduce -41.9% | 0.02% | −0.01 |
| PLTR Palantir Technologies Inc. Class A | Reduce -7.2% | 0.10% | −0.01 |
| T AT&T Inc. | Reduce -2.5% | 0.06% | −0.01 |
| VDC Vanguard Consumer Staple ETF | Reduce -2.5% | 0.16% | −0.01 |
| VFH Vanguard Financials ETF | Reduce -2.7% | 0.22% | −0.01 |
| PRF Invesco Rafi US 1000 ETF | Reduce -5.5% | 0.13% | −0.00 |
| ETN Eaton Corp. PLC | Reduce -0.7% | 0.02% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| V Visa Inc. Class A | Add +61.5% | 1.49% | +0.58 |
| XLK SS Technology Select Sector | Add +45.0% | 1.36% | +0.43 |
| AAPL Apple Inc. | Add +0.1% | 4.64% | +0.23 |
| MRK Merck & Co. Inc. | Add +1.2% | 0.89% | +0.18 |
| LLY Eli Lilly & Co. | Add +24.0% | 0.41% | +0.17 |
| TMO Thermo Fisher Scientific Inc. | Add +0.4% | 1.10% | +0.17 |
| VSLU Applied Finance Valuat ETF | Add +2.1% | 2.71% | +0.11 |
| IVV iShares Core S&P 500 ETF | Add +1.9% | 3.67% | +0.09 |
| CRM Salesforce Inc. | Add +1.8% | 0.70% | +0.07 |
| CSL Carlisle Cos Inc. | Add +16.0% | 0.70% | +0.07 |
| BAC Bank of America Corp. | Add +1.1% | 0.82% | +0.05 |
| JPST JPMorgan Ultra-Short Income | Add +17.2% | 0.35% | +0.05 |
| AKRE Akre Focus ETF | New | 0.04% | +0.04 |
| PFF iShares Preferred & Income S | New | 0.04% | +0.04 |
| CGBD Carlyle Secured Lending Inc. | Add +17.8% | 0.23% | +0.03 |
| TRGP Targa Resources Corp. | New | 0.03% | +0.03 |
| TSLA Tesla Inc. | Add +5.2% | 0.61% | +0.03 |
| MOAT Vaneck Morningstar Wide Moat | Add +0.4% | 0.83% | +0.03 |
| EPD Enterprise Products Partners | New | 0.03% | +0.03 |
| PH Parker Hannifin Corp. | New | 0.02% | +0.02 |
| ARI Apollo Commercial Real Estat | Add +49.5% | 0.08% | +0.02 |
| MS Morgan Stanley | New | 0.02% | +0.02 |
| ET Energy Transfer LP | New | 0.02% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 1.93% | +0.02 |
| XLRE SS Real Estate Select Sector | Add +35.3% | 0.09% | +0.02 |
| NFLX Netflix Inc. | Add +101.8% | 0.06% | +0.02 |
| MU Micron Technology Inc. | Add +1.2% | 0.05% | +0.02 |
| SYK Stryker Corp. | Add +8.8% | 1.02% | +0.02 |
| XLV SS Health Care Select Sector | Add +33.7% | 0.06% | +0.02 |
| GSLC Goldman Activebeta US LC ETF | Add +1.7% | 1.07% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +28.7% | 0.14% | +0.02 |
| NUE Nucor Corp. | New | 0.02% | +0.02 |
| VCIT Vanguard Int-Term Corporate | Add +23.9% | 0.09% | +0.02 |
| BSCV Invesco Bulletshares 2031 CB | Add +8.8% | 0.24% | +0.02 |
| ENB Enbridge Inc. | New | 0.02% | +0.02 |
| NRP Natural Resource Partners LP | New | 0.02% | +0.02 |
| FCX Freeport-McMoran Inc. | New | 0.02% | +0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +35.0% | 0.07% | +0.01 |
| XLF SS Financial Select Sector | Add +2.3% | 0.65% | +0.01 |
| BSM Black Stone Minerals LP | New | 0.01% | +0.01 |
| AMLP Alerian MLP ETF | Add +3.1% | 0.87% | +0.01 |
| KO The Coca-Cola Co. | Add +11.8% | 0.10% | +0.01 |
| BSCY Invesco Bulletshares 2034 CB | Add +14.9% | 0.11% | +0.01 |
| QXO Qxo Inc. | Add +49.9% | 0.03% | +0.01 |
| BSCZ Invesco Bulletshares 2035 CB | Add +29.1% | 0.05% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +26.3% | 0.05% | +0.01 |
| XLC SS Comm Select Sector SPDR | Add +6.6% | 0.25% | +0.01 |
| FLO Flowers Foods Inc. | New | 0.01% | +0.01 |
| PEP Pepsico Inc. | Add +0.9% | 0.67% | +0.01 |
| PG The Procter & Gamble Co. | Add +18.6% | 0.12% | +0.01 |
Notes & Other Activity Q3 2025 → Q4 2025
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -3.8% | 504 | $631K |
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 |