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Livermore
Livermore
ZHEN

Novare Capital Management LLC

SEC CIK
0001388409
Latest filing
Aug 7, 2026

The latest 13F from Novare Capital Management LLC covers Q2 2026 (filed Aug 7, 2026): 210 long positions worth $1.41B. The top 10 holdings make up 35.5% of the portfolio, and the largest is SPDR S&P 500 ETF Trust (SPY) at 5.5%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
23
Est. +$34.3M
Added
59
Est. +$34.5M
Reduced
93
Est. −$47.0M
Sold out
8
Est. −$18.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. SPYSPDR S&P 500 ETF Trust
    5.5%$77.5MHistory
  2. AAPLApple Inc.
    4.6%$64.4MHistory
  3. iShares Core S&P 500 ETF464287200
    4.3%$60.2M
  4. GOOGLAlphabet Inc.
    3.7%$52.4MHistory
  5. State Street Technology Select Sector SPDR ETF81369Y803
    3.5%$49.8M

Share of portfolio

Top 5 holdings and the other 205 positions, by share of portfolio value

  1. SPY5.5%
  2. AAPL4.6%
  3. iShares Core S&P 500 ETF4.3%
  4. GOOGL3.7%
  5. State Street Technology Select Sector SPDR ETF3.5%
  6. Other 205 positions78.4%

Biggest buys

New and added positions, by estimated amount bought

  1. MDLZMondelez International, Inc.
    +$10.3MNewHistory
  2. iShares Core S&P 500 ETF464287200
    +$6.46MAdded
  3. State Street Technology Select Sector SPDR ETF81369Y803
    +$6.01MAdded
  4. HONHoneywell International Inc
    +$5.95MNewHistory
  5. HONAHoneywell Aerospace Inc.
    +$5.85MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. State Street Technology Select Sector SPDR ETF81369Y803
    +1.11 pp2.4% → 3.5%
  2. MDLZMondelez International, Inc.
    +0.73 pp0.0% → 0.7%History
  3. iShares Core S&P 500 ETF464287200
    +0.56 pp3.7% → 4.3%
  4. HONHoneywell International Inc
    +0.42 pp0.0% → 0.4%History
  5. HONAHoneywell Aerospace Inc.
    +0.42 pp0.0% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$12.6MSold outHistory
  2. MCHPMicrochip Technology Inc
    −$10.9MReducedHistory
  3. ZTSZoetis Inc.
    −$4.71MSold outHistory
  4. ROPRoper Technologies Inc
    −$4.43MReducedHistory
  5. AMTAmerican Tower Corp
    −$3.30MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. HONHoneywell International Inc
    −1.00 pp1.0% → 0.0%History
  2. WMTWalmart Inc.
    −0.77 pp3.1% → 2.3%History
  3. MCHPMicrochip Technology Inc
    −0.60 pp0.7% → 0.1%History
  4. ROPRoper Technologies Inc
    −0.45 pp0.9% → 0.5%History
  5. ZTSZoetis Inc.
    −0.37 pp0.4% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.41B
+$147.0M (+11.7%) vs. prior quarter
Positions
210
+15 vs. prior quarter
Top 10 concentration
35.5%
Top 10 as share of value
Turnover
4.9%
Q2 2026, one quarter
Average holding period
19.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.41B (Q2 2026)

Q1 2021: $830.9MQ2 2021: $894.9MQ3 2021: $900.9MQ4 2021: $986.3MQ1 2022: $938.1MQ2 2022: $810.4MQ3 2022: $781.2MQ4 2022: $847.7MQ1 2023: $879.9MQ2 2023: $930.9MQ3 2023: $887.0MQ4 2023: $982.8MQ1 2024: $1.11BQ2 2024: $1.11BQ3 2024: $1.18BQ4 2024: $1.19BQ1 2025: $1.14BQ2 2025: $1.23BQ3 2025: $1.31BQ4 2025: $1.33BQ1 2026: $1.26BQ2 2026: $1.41B
Q1 2021Q2 2026
13F filings of Novare Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 7, 2026210$1.41BSPYAAPLiShares Core S&P 500 ETFvs. Q1 2026SEC
Q1 2026Apr 17, 2026195$1.26BSPYAAPLiShares Core S&P 500 ETFvs. Q4 2025SEC
Q4 2025Feb 5, 2026195$1.33BSPYAAPLMSFTvs. Q3 2025SEC
Q3 2025Nov 3, 2025193$1.31BSPYMSFTAAPLvs. Q2 2025SEC
Q2 2025Jul 29, 2025197$1.23BSPYMSFTiShares Core S&P 500 ETFvs. Q1 2025SEC
Q1 2025Apr 29, 2025188$1.14BSPYMSFTAAPLvs. Q4 2024SEC
Q4 2024Jan 21, 2025186$1.19BSPYMSFTAAPLvs. Q3 2024SEC
Q3 2024Oct 11, 2024191$1.18BSPYMSFTAAPLvs. Q2 2024SEC
Q2 2024Aug 2, 2024187$1.11BSPYMSFTAAPLvs. Q1 2024SEC
Q1 2024May 6, 2024183$1.11BSPYMSFTAAPLvs. Q4 2023SEC
Q4 2023Feb 8, 2024168$982.8MSPYMSFTAAPLvs. Q3 2023SEC
Q3 2023Nov 2, 2023167$887.0MSPYMSFTAAPLvs. Q2 2023SEC
Q2 2023Jul 28, 2023172$930.9MMSFTSPYAAPLvs. Q1 2023SEC
Q1 2023Apr 20, 2023171$879.9MSPYMSFTAAPLvs. Q4 2022SEC
Q4 2022Jan 17, 2023176$847.7MSPYMSFTAAPLvs. Q3 2022SEC
Q3 2022Oct 11, 2022167$781.2MSPYMSFTAAPLvs. Q2 2022SEC
Q2 2022Aug 3, 2022163$810.4MSPYMSFTAAPLvs. Q1 2022SEC
Q1 2022May 9, 2022175$938.1MSPYMSFTAAPLvs. Q4 2021SEC
Q4 2021Feb 3, 2022160$986.3MSPYMSFTAAPLvs. Q3 2021SEC
Q3 2021Nov 4, 2021149$900.9MSPYMSFTAAPLvs. Q2 2021SEC
Q2 2021Aug 2, 2021156$894.9MMSFTSPYAAPLvs. Q1 2021SEC
Q1 2021May 11, 2021Amended155$830.9MMSFTSPYiShares MSCI USA Min Vol Factor ETF–SEC