Payne Capital Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed November 25, 2025), Payne Capital Management, LLC reported 77 stock positions worth $259.5 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 11.7% of the portfolio, followed by Global X MLP & Energy Infras (MLPX, 8.5%) and Vanguard Ftse Emerging Marke (VWO, 6.6%). Compared with Q1 2025, it opened 8 new positions, sold out of 2, added to 31 and reduced 21. The biggest buy was Microsoft (MSFT, shares +230%) and the biggest sale Global X MLP & Energy Infras (MLPX, shares −0%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001994332
Portfolio Value
$259.5M (Q2 2025)
SEC Filing
0001085146-25-006011 ↗ 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 Q1 2025 Q2 2025: $259.5M $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 77 stocks · $259.5M
SCHF Schwab Intl Equity ETF 11.73% 1,377,707 $30.4M Reduce -0.2%
MLPX Global X MLP & Energy Infras 8.46% 350,312 $22.0M Reduce -0.1%
VWO Vanguard Ftse Emerging Marke 6.57% 344,624 $17.0M Reduce -1.9%
VEA Vanguard Ftse Developed ETF 6.09% 277,164 $15.8M Add +5.3%
SCHG Schwab US Large-Cap Growth 5.88% 522,486 $15.3M Reduce -0.4%
BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS 5.28% 659,556 $13.7M Reduce -1.4%
SCHV Schwab US Large-Cap Value 4.96% 465,555 $12.9M Add +0.6%
VUG Vanguard Mrngstar GR ETF-Sui 4.90% 28,983 $12.7M Add +3.5%
VOT Vngrd Mrngstr MC GRW ETF-Usd 4.63% 42,288 $12.0M Reduce -0.3%
VTV Vanguard Mrngstr Val ETF-Aui 4.08% 59,925 $10.6M Add +3.6%
VBK Van Morst SML-Cap Gro-Usd Inc. 4.08% 38,208 $10.6M Add +0.1%
VBR Vngrd Mrngst SL-CP Val ETF-U 3.99% 53,062 $10.3M Reduce -0.0%
VOE Vngrd Mrngstr MD-Cap Val ETF 3.98% 62,833 $10.3M Reduce -0.1%
VNQI Vanguard GLBL Ex-US Real Est 3.31% 186,162 $8.6M Add +1.5%
FREL Fidelity MSCI RL Est Indx 2.62% 251,410 $6.8M Add +0.9%
SCHE Schwab Emrg Mrkts Eqty ETF 2.28% 196,018 $5.9M Add +14.5%
VNQ Vanguard Real Estate ETF 1.27% 37,003 $3.3M Add +6.3%
NVDA Nvidia Corp. 1.09% 17,840 $2.8M Reduce -1.3%
AMLP Alerian MLP ETF 1.06% 56,212 $2.7M Add +8.6%
AAPL Apple Inc. 0.82% 10,393 $2.1M Add +1.0%
MSFT Microsoft Corp. 0.77% 4,040 $2.0M Add +229.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.62% 2,621 $1.6M Reduce -7.7%
MDYV SS SPDR S&P 400 MC Val ETF 0.61% 19,804 $1.6M Add +16.6%
XOM Exxon Mobil Corp. 0.60% 14,444 $1.6M Reduce -11.5%
IFGL iShares International Develo 0.57% 65,154 $1.5M Add +8.9%
SLYV SS SPDR S&P 600 SC Val ETF 0.54% 17,577 $1.4M Add +27.4%
VSS Vanguard Ftse All Wo X-US SC 0.47% 9,127 $1.2M Add +2.9%
QQQ Invesco QQQ Trust Series 1 0.45% 2,127 $1.2M Add +239.2%
REET iShares Global REIT ETF 0.45% 46,955 $1.2M Reduce -0.1%
MDYG SS SPDR S&P 400 MC GR ETF 0.41% 12,112 $1.1M Add +22.7%
BRK.B Berkshire Hathaway Inc. Class B 0.37% 1,970 $957K Add +91.6%
SLYG SS SPDR S&P 600 SC GR ETF 0.37% 10,775 $956K Add +44.0%
NOW ServiceNow Inc. 0.35% 878 $903K No change
SDY SS SPDR S&P Dividend ETF 0.32% 6,041 $820K Add +0.5%
JPM JPMorgan Chase & Co. 0.31% 2,745 $796K Reduce -2.0%
AMZN Amazon.com Inc. 0.29% 3,476 $763K Add +20.9%
META Meta Platforms Inc. Class A 0.24% 830 $612K Reduce -1.3%
VTI VG Morningstar TS MKT ETF-US 0.24% 2,011 $611K Add +18.9%
MS Morgan Stanley 0.23% 4,210 $593K Reduce -6.8%
VOO Vanguard S&P 500 ETF 0.22% 991 $563K Add +0.6%
VGT Vanguard Info Tech ETF 0.22% 847 $562K No change
TSLA Tesla Inc. 0.21% 1,690 $537K Add +32.5%
PM Philip Morris International 0.20% 2,778 $506K No change
HD Home Depot Inc. 0.19% 1,373 $503K No change
UNP Union Pacific Corp. 0.19% 2,180 $502K Add +22.5%
MCK McKesson Corp. 0.19% 677 $496K Add +0.3%
AVGO Broadcom Inc. 0.17% 1,583 $436K Add +0.1%
ORCL Oracle Corp. 0.15% 1,832 $401K Reduce -3.4%
NFLX Netflix Inc. 0.15% 283 $379K No change
IVE iShares S&P 500 Value ETF 0.15% 1,932 $378K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.14% 7,425 $351K Reduce -3.1%
IEFA iShares Core MSCI Eafe ETF 0.13% 4,108 $343K No change
GOOGL Alphabet Inc. Class A 0.13% 1,921 $339K Reduce -4.9%
MRK Merck & Co. Inc. 0.13% 4,105 $325K Add +62.3%
VYM Vanguard High DVD Yield ETF 0.12% 2,400 $320K No change
CVX Chevron Corp. 0.12% 2,121 $304K Reduce -5.0%
GS Goldman Sachs Group Inc. 0.11% 398 $282K Reduce -5.2%
OEF iShares S&P 100 ETF 0.11% 900 $274K No change
SCHC Schwab Intl Small-Cap Equity 0.10% 6,304 $268K Add +2.6%
CEG Constellation Energy 0.10% 822 $265K New
SCHD Schwab US DVD Equity ETF 0.10% 10,011 $265K No change
XLK SS Technology Select Sector 0.10% 1,044 $264K No change
EDC Dir Da Ms Em Ma Bul 3X ETF-U 0.10% 6,569 $257K New
VIGI Vanguard Int Div App Indx FD 0.10% 2,826 $255K No change
CSCO Cisco Systems Inc. 0.10% 3,650 $253K New
IYF iShares US Financials ETF 0.09% 2,000 $242K No change
IQLT iShares MSCI International Q 0.09% 5,588 $242K No change
QQEW First TR Nasdaq-100 Sel Eq 0.09% 1,700 $232K No change
V Visa Inc. Class A 0.09% 631 $224K No change
T AT&T Inc. 0.08% 7,569 $219K New
JNJ Johnson & Johnson 0.08% 1,424 $218K Add +10.2%
KO The Coca-Cola Co. 0.08% 3,045 $215K New
TFC Truist Financial Corp. 0.08% 5,000 $215K New
ESS Essex Property Trust Inc. 0.08% 742 $210K No change
TRV The Travelers Cos Inc. 0.08% 778 $208K New
ED Consolidated Edison Inc. 0.08% 2,066 $207K No change
ABBV Abbvie Inc. 0.08% 1,086 $201K Reduce -8.3%

Portfolio Sells Q1 2025 → Q2 2025
MLPX Global X MLP & Energy Infras Reduce -0.1% 8.46% −1.08
BCI Abrdn Bloomberg All Commodit Reduce -1.4% 5.28% −0.84
NOC Northrop Grumman Corp. Sold out 0.00% −0.43
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -0.1% 3.98% −0.32
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -0.0% 3.99% −0.23
XOM Exxon Mobil Corp. Reduce -11.5% 0.60% −0.23
VWO Vanguard Ftse Emerging Marke Reduce -1.9% 6.57% −0.21
OMC Omnicom Group Sold out 0.00% −0.09
SPY SS SPDR S&P 500 ETF Trust-US Reduce -7.7% 0.62% −0.05
CVX Chevron Corp. Reduce -5.0% 0.12% −0.04
REET iShares Global REIT ETF Reduce -0.1% 0.45% −0.04
ABBV Abbvie Inc. Reduce -8.3% 0.08% −0.03
GOOGL Alphabet Inc. Class A Reduce -4.9% 0.13% −0.00
BAC Bank of America Corp. Reduce -3.1% 0.14% −0.00
MS Morgan Stanley Reduce -6.8% 0.23% +0.00
GS Goldman Sachs Group Inc. Reduce -5.2% 0.11% +0.01
JPM JPMorgan Chase & Co. Reduce -2.0% 0.31% +0.01
META Meta Platforms Inc. Class A Reduce -1.3% 0.24% +0.03
ORCL Oracle Corp. Reduce -3.4% 0.15% +0.04
SCHF Schwab Intl Equity ETF Reduce -0.2% 11.73% +0.09
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -0.3% 4.63% +0.21
NVDA Nvidia Corp. Reduce -1.3% 1.09% +0.25
SCHG Schwab US Large-Cap Growth Reduce -0.4% 5.88% +0.28

Portfolio Buys Q1 2025 → Q2 2025
MSFT Microsoft Corp. Add +229.5% 0.77% +0.58
VUG Vanguard Mrngstar GR ETF-Sui Add +3.5% 4.90% +0.47
VEA Vanguard Ftse Developed ETF Add +5.3% 6.09% +0.38
QQQ Invesco QQQ Trust Series 1 Add +239.2% 0.45% +0.33
SCHE Schwab Emrg Mrkts Eqty ETF Add +14.5% 2.28% +0.26
VNQI Vanguard GLBL Ex-US Real Est Add +1.5% 3.31% +0.15
IVE iShares S&P 500 Value ETF New 0.15% +0.15
BRK.B Berkshire Hathaway Inc. Class B Add +91.6% 0.37% +0.14
SLYG SS SPDR S&P 600 SC GR ETF Add +44.0% 0.37% +0.10
CEG Constellation Energy New 0.10% +0.10
EDC Dir Da Ms Em Ma Bul 3X ETF-U New 0.10% +0.10
CSCO Cisco Systems Inc. New 0.10% +0.10
T AT&T Inc. New 0.08% +0.08
KO The Coca-Cola Co. New 0.08% +0.08
TFC Truist Financial Corp. New 0.08% +0.08
TRV The Travelers Cos Inc. New 0.08% +0.08
SLYV SS SPDR S&P 600 SC Val ETF Add +27.4% 0.54% +0.08
MDYG SS SPDR S&P 400 MC GR ETF Add +22.7% 0.41% +0.07
IFGL iShares International Develo Add +8.9% 0.57% +0.07
TSLA Tesla Inc. Add +32.5% 0.21% +0.07
AMZN Amazon.com Inc. Add +20.9% 0.29% +0.06
AVGO Broadcom Inc. Add +0.1% 0.17% +0.06
MDYV SS SPDR S&P 400 MC Val ETF Add +16.6% 0.61% +0.05
VTI VG Morningstar TS MKT ETF-US Add +18.9% 0.24% +0.04
VSS Vanguard Ftse All Wo X-US SC Add +2.9% 0.47% +0.04
MRK Merck & Co. Inc. Add +62.3% 0.13% +0.03
UNP Union Pacific Corp. Add +22.5% 0.19% +0.01
SCHC Schwab Intl Small-Cap Equity Add +2.6% 0.10% +0.01
VOO Vanguard S&P 500 ETF Add +0.6% 0.22% +0.00
MCK McKesson Corp. Add +0.3% 0.19% −0.00
JNJ Johnson & Johnson Add +10.2% 0.08% −0.01
VBK Van Morst SML-Cap Gro-Usd Inc. Add +0.1% 4.08% −0.02
SDY SS SPDR S&P Dividend ETF Add +0.5% 0.32% −0.03
VNQ Vanguard Real Estate ETF Add +6.3% 1.27% −0.07
AMLP Alerian MLP ETF Add +8.6% 1.06% −0.09
AAPL Apple Inc. Add +1.0% 0.82% −0.15
VTV Vanguard Mrngstr Val ETF-Aui Add +3.6% 4.08% −0.18
SCHV Schwab US Large-Cap Value Add +0.6% 4.96% −0.28
FREL Fidelity MSCI RL Est Indx Add +0.9% 2.62% −0.30

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