Payne Capital Management, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed November 25, 2025), Payne Capital Management, LLC reported 71 stock positions worth $234.6 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 11.6% of the portfolio, followed by Global X MLP & Energy Infras (MLPX, 9.5%) and Vanguard Ftse Emerging Marke (VWO, 6.8%). Compared with Q4 2024, it opened 5 new positions, sold out of 3, added to 29 and reduced 18. The biggest buy was Schwab Intl Equity ETF (SCHF, shares +7%) and the biggest sale an exit from Alliancebernstein (AB).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001994332
Portfolio Value
$234.6M (Q1 2025)
SEC Filing
0001085146-25-006010 ↗ filed Nov 25, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q4 2024: $231.8M Q4 2024 Q1 2025: $234.6M $234.6M Q1 2025 Q2 2025: $259.5M Q2 2025 Q3 2025: $310.5M Q3 2025 Q4 2025: $316.8M Q4 2025 Q1 2026: $330.2M Q1 2026 Q2 2026: $375.0M Q2 2026

Holdings 71 stocks · $234.6M
SCHF Schwab Intl Equity ETF 11.65% 1,380,990 $27.3M Add +6.7%
MLPX Global X MLP & Energy Infras 9.54% 350,641 $22.4M Reduce -0.2%
VWO Vanguard Ftse Emerging Marke 6.77% 351,115 $15.9M Add +7.5%
BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS 6.12% 668,951 $14.4M Add +7.8%
VEA Vanguard Ftse Developed ETF 5.70% 263,242 $13.4M Add +2.0%
SCHG Schwab US Large-Cap Growth 5.60% 524,493 $13.1M Add +1.5%
SCHV Schwab US Large-Cap Value 5.24% 462,772 $12.3M Add +4.7%
VUG Vanguard Mrngstar GR ETF-Sui 4.43% 28,009 $10.4M Reduce -3.1%
VOT Vngrd Mrngstr MC GRW ETF-Usd 4.42% 42,416 $10.4M Add +2.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 4.31% 62,918 $10.1M Add +4.0%
VTV Vanguard Mrngstr Val ETF-Aui 4.26% 57,830 $10.0M Add +1.1%
VBR Vngrd Mrngst SL-CP Val ETF-U 4.22% 53,079 $9.9M Add +4.2%
VBK Van Morst SML-Cap Gro-Usd Inc. 4.10% 38,154 $9.6M Add +3.6%
VNQI Vanguard GLBL Ex-US Real Est 3.17% 183,487 $7.4M Add +8.8%
FREL Fidelity MSCI RL Est Indx 2.92% 249,140 $6.8M Add +7.2%
SCHE Schwab Emrg Mrkts Eqty ETF 2.01% 171,209 $4.7M Reduce -0.7%
VNQ Vanguard Real Estate ETF 1.34% 34,824 $3.2M Add +5.6%
AMLP Alerian MLP ETF 1.15% 51,751 $2.7M Reduce -0.1%
AAPL Apple Inc. 0.97% 10,289 $2.3M Reduce -16.2%
NVDA Nvidia Corp. 0.84% 18,081 $2.0M Add +0.7%
XOM Exxon Mobil Corp. 0.83% 16,324 $1.9M Add +10.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.68% 2,840 $1.6M Add +38.0%
MDYV SS SPDR S&P 400 MC Val ETF 0.56% 16,978 $1.3M Reduce -2.1%
IFGL iShares International Develo 0.50% 59,814 $1.2M Add +10.3%
REET iShares Global REIT ETF 0.49% 47,004 $1.1M Reduce -11.3%
SLYV SS SPDR S&P 600 SC Val ETF 0.46% 13,795 $1.1M Reduce -0.8%
VSS Vanguard Ftse All Wo X-US SC 0.44% 8,869 $1.0M Add +1.1%
NOC Northrop Grumman Corp. 0.43% 1,970 $1.0M No change
SDY SS SPDR S&P Dividend ETF 0.35% 6,011 $816K Add +8.5%
MDYG SS SPDR S&P 400 MC GR ETF 0.33% 9,872 $784K Reduce -0.1%
NOW ServiceNow Inc. 0.30% 878 $699K No change
JPM JPMorgan Chase & Co. 0.29% 2,802 $687K Reduce -11.2%
SLYG SS SPDR S&P 600 SC GR ETF 0.26% 7,485 $621K Reduce -3.0%
BRK.B Berkshire Hathaway Inc. Class B 0.23% 1,028 $547K No change
AMZN Amazon.com Inc. 0.23% 2,876 $547K No change
MS Morgan Stanley 0.22% 4,516 $527K Add +7.5%
VOO Vanguard S&P 500 ETF 0.22% 985 $506K Reduce -11.5%
HD Home Depot Inc. 0.21% 1,373 $503K No change
META Meta Platforms Inc. Class A 0.21% 841 $485K Add +13.5%
VTI VG Morningstar TS MKT ETF-US 0.20% 1,692 $465K Reduce -0.8%
MSFT Microsoft Corp. 0.20% 1,226 $460K Reduce -2.5%
VGT Vanguard Info Tech ETF 0.20% 847 $459K New
MCK McKesson Corp. 0.19% 675 $454K No change
PM Philip Morris International 0.19% 2,778 $441K Add +21.9%
UNP Union Pacific Corp. 0.18% 1,780 $421K No change
CVX Chevron Corp. 0.16% 2,233 $373K Add +40.5%
TSLA Tesla Inc. 0.14% 1,276 $331K Add +4.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 7,665 $320K Add +2.9%
GOOGL Alphabet Inc. Class A 0.13% 2,020 $312K Add +6.4%
IEFA iShares Core MSCI Eafe ETF 0.13% 4,108 $311K Reduce -9.5%
VYM Vanguard High DVD Yield ETF 0.13% 2,400 $310K No change
QQQ Invesco QQQ Trust Series 1 0.13% 627 $294K No change
SCHD Schwab US DVD Equity ETF 0.12% 10,011 $280K No change
ORCL Oracle Corp. 0.11% 1,897 $265K Add +4.1%
AVGO Broadcom Inc. 0.11% 1,582 $265K Add +0.1%
NFLX Netflix Inc. 0.11% 283 $264K No change
ABBV Abbvie Inc. 0.11% 1,185 $248K New
OEF iShares S&P 100 ETF 0.10% 900 $244K No change
VIGI Vanguard Int Div App Indx FD 0.10% 2,826 $234K No change
GS Goldman Sachs Group Inc. 0.10% 420 $229K Reduce -7.5%
ED Consolidated Edison Inc. 0.10% 2,066 $228K New
ESS Essex Property Trust Inc. 0.10% 742 $227K No change
MRK Merck & Co. Inc. 0.10% 2,529 $227K Reduce -18.2%
IYF iShares US Financials ETF 0.10% 2,000 $226K No change
IQLT iShares MSCI International Q 0.09% 5,588 $222K No change
V Visa Inc. Class A 0.09% 631 $221K New
SCHC Schwab Intl Small-Cap Equity 0.09% 6,146 $221K No change
XLK SS Technology Select Sector 0.09% 1,044 $216K Reduce -0.3%
JNJ Johnson & Johnson 0.09% 1,292 $214K New
OMC Omnicom Group 0.09% 2,490 $206K No change
QQEW First TR Nasdaq-100 Sel Eq 0.09% 1,700 $206K No change

Portfolio Sells Q4 2024 → Q1 2025
AB Alliancebernstein Holding LP Sold out 0.00% −2.36
VUG Vanguard Mrngstar GR ETF-Sui Reduce -3.1% 4.43% −0.69
AAPL Apple Inc. Reduce -16.2% 0.97% −0.35
GE General Electric Sold out 0.00% −0.11
WMT Walmart Inc. Sold out 0.00% −0.10
REET iShares Global REIT ETF Reduce -11.3% 0.49% −0.06
SLYV SS SPDR S&P 600 SC Val ETF Reduce -0.8% 0.46% −0.06
VOO Vanguard S&P 500 ETF Reduce -11.5% 0.22% −0.04
MDYV SS SPDR S&P 400 MC Val ETF Reduce -2.1% 0.56% −0.04
MRK Merck & Co. Inc. Reduce -18.2% 0.10% −0.04
SLYG SS SPDR S&P 600 SC GR ETF Reduce -3.0% 0.26% −0.04
MDYG SS SPDR S&P 400 MC GR ETF Reduce -0.1% 0.33% −0.04
JPM JPMorgan Chase & Co. Reduce -11.2% 0.29% −0.03
MSFT Microsoft Corp. Reduce -2.5% 0.20% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -0.8% 0.20% −0.01
GS Goldman Sachs Group Inc. Reduce -7.5% 0.10% −0.01
XLK SS Technology Select Sector Reduce -0.3% 0.09% −0.01
IEFA iShares Core MSCI Eafe ETF Reduce -9.5% 0.13% −0.01
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -0.7% 2.01% +0.03
AMLP Alerian MLP ETF Reduce -0.1% 1.15% +0.07
MLPX Global X MLP & Energy Infras Reduce -0.2% 9.54% +0.36

Portfolio Buys Q4 2024 → Q1 2025
SCHF Schwab Intl Equity ETF Add +6.7% 11.65% +1.32
BCI Abrdn Bloomberg All Commodit Add +7.8% 6.12% +0.84
VWO Vanguard Ftse Emerging Marke Add +7.5% 6.77% +0.57
VEA Vanguard Ftse Developed ETF Add +2.0% 5.70% +0.38
VNQI Vanguard GLBL Ex-US Real Est Add +8.8% 3.17% +0.29
SCHV Schwab US Large-Cap Value Add +4.7% 5.24% +0.27
FREL Fidelity MSCI RL Est Indx Add +7.2% 2.92% +0.21
VGT Vanguard Info Tech ETF New 0.20% +0.20
SPY SS SPDR S&P 500 ETF Trust-US Add +38.0% 0.68% +0.16
XOM Exxon Mobil Corp. Add +10.9% 0.83% +0.14
ABBV Abbvie Inc. New 0.11% +0.11
ED Consolidated Edison Inc. New 0.10% +0.10
V Visa Inc. Class A New 0.09% +0.09
JNJ Johnson & Johnson New 0.09% +0.09
VOE Vngrd Mrngstr MD-Cap Val ETF Add +4.0% 4.31% +0.09
VTV Vanguard Mrngstr Val ETF-Aui Add +1.1% 4.26% +0.08
VNQ Vanguard Real Estate ETF Add +5.6% 1.34% +0.08
PM Philip Morris International Add +21.9% 0.19% +0.07
CVX Chevron Corp. Add +40.5% 0.16% +0.06
IFGL iShares International Develo Add +10.3% 0.50% +0.05
SDY SS SPDR S&P Dividend ETF Add +8.5% 0.35% +0.03
META Meta Platforms Inc. Class A Add +13.5% 0.21% +0.02
VSS Vanguard Ftse All Wo X-US SC Add +1.1% 0.44% +0.00
MS Morgan Stanley Add +7.5% 0.22% −0.00
BAC Bank of America Corp. Add +2.9% 0.14% −0.00
ORCL Oracle Corp. Add +4.1% 0.11% −0.02
GOOGL Alphabet Inc. Class A Add +6.4% 0.13% −0.02
AVGO Broadcom Inc. Add +0.1% 0.11% −0.05
TSLA Tesla Inc. Add +4.8% 0.14% −0.07
VOT Vngrd Mrngstr MC GRW ETF-Usd Add +2.6% 4.42% −0.10
VBR Vngrd Mrngst SL-CP Val ETF-U Add +4.2% 4.22% −0.14
NVDA Nvidia Corp. Add +0.7% 0.84% −0.21
VBK Van Morst SML-Cap Gro-Usd Inc. Add +3.6% 4.10% −0.35
SCHG Schwab US Large-Cap Growth Add +1.5% 5.60% −0.61

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 88$375.0MSCHF, MLPX, VWO, VEA, BCI
Q1 2026 78$330.2MSCHF, MLPX, VEA, VWO, BCI
Q4 2025 81$316.8MSCHF, MLPX, VWO, VEA, SCHG
Q3 2025 77$310.5MSCHF, MLPX, VWO, VEA, SCHG
Q2 2025 77$259.5MSCHF, MLPX, VWO, VEA, SCHG
Q1 2025 71$234.6MSCHF, MLPX, VWO, BCI, VEA
Q4 2024 69$231.8MSCHF, MLPX, SCHG, VWO, VEA