Payne Capital Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Payne Capital Management, LLC reported 81 stock positions worth $316.8 million. Its top holding was Schwab Intl Equity ETF (SCHF) at 11.5% of the portfolio, followed by Global X MLP & Energy Infras (MLPX, 7.9%) and Vanguard Ftse Emerging Marke (VWO, 6.8%). Compared with Q3 2025, it opened 5 new positions, sold out of 1, added to 40 and reduced 18. The biggest buy was Schwab Intl Equity ETF (SCHF, shares +2%) and the biggest sale Alliancebernstein (AB, shares −76%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001994332
Portfolio Value
$316.8M (Q4 2025)
SEC Filing
0001994332-26-000001 ↗ filed Feb 2, 2026

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 Q2 2025 Q3 2025: $310.5M Q3 2025 Q4 2025: $316.8M $316.8M Q4 2025 Q1 2026: $330.2M Q1 2026 Q2 2026: $375.0M Q2 2026

Holdings 81 stocks · $316.8M
SCHF Schwab Intl Equity ETF 11.55% 1,521,679 $36.6M Add +1.8%
MLPX Global X MLP & Energy Infras 7.87% 411,815 $24.9M Add +1.9%
VWO Vanguard Ftse Emerging Marke 6.82% 401,723 $21.6M Add +1.1%
VEA Vanguard Ftse Developed ETF 6.75% 342,538 $21.4M Add +0.7%
SCHG Schwab US Large-Cap Growth 5.60% 544,158 $17.8M Reduce -1.1%
VUG Vanguard Mrngstar GR ETF-Sui 5.38% 34,946 $17.0M Reduce -2.3%
SCHV Schwab US Large-Cap Value 4.95% 529,661 $15.7M Add +4.3%
BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS 4.86% 787,692 $15.4M Add +6.3%
VTV Vanguard Mrngstr Val ETF-Aui 4.41% 73,149 $14.0M Add +1.3%
VOT Vngrd Mrngstr MC GRW ETF-Usd 4.37% 49,574 $13.8M Add +2.3%
VBK Van Morst SML-Cap Gro-Usd Inc. 4.32% 45,291 $13.7M Add +2.9%
VBR Vngrd Mrngst SL-CP Val ETF-U 4.18% 62,571 $13.3M Add +3.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 4.16% 74,302 $13.2M Add +3.8%
VNQI Vanguard GLBL Ex-US Real Est 3.15% 217,903 $10.0M Add +4.1%
FREL Fidelity MSCI RL Est Indx 2.53% 297,826 $8.0M Add +6.5%
SCHE Schwab Emrg Mrkts Eqty ETF 2.25% 217,412 $7.1M Add +2.7%
VNQ Vanguard Real Estate ETF 1.29% 46,333 $4.1M Add +3.8%
AAPL Apple Inc. 1.15% 13,362 $3.6M Reduce -2.0%
NVDA Nvidia Corp. 1.09% 18,517 $3.5M Add +1.6%
AMLP Alerian MLP ETF 0.98% 65,739 $3.1M Add +11.5%
MSFT Microsoft Corp. 0.66% 4,292 $2.1M Reduce -2.9%
MDYV SS SPDR S&P 400 MC Val ETF 0.63% 23,640 $2.0M Add +2.6%
SLYV SS SPDR S&P 600 SC Val ETF 0.60% 21,032 $1.9M Add +3.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.60% 2,774 $1.9M Add +5.6%
VSS Vanguard Ftse All Wo X-US SC 0.57% 12,652 $1.8M Add +3.0%
REET iShares Global REIT ETF 0.55% 69,645 $1.7M Add +9.6%
IFGL iShares International Develo 0.54% 74,179 $1.7M Add +2.6%
MRK Merck & Co. Inc. 0.46% 13,824 $1.5M Add +0.3%
QQQ Invesco QQQ Trust Series 1 0.42% 2,170 $1.3M Add +2.0%
MDYG SS SPDR S&P 400 MC GR ETF 0.37% 12,759 $1.2M Add +0.6%
SLYG SS SPDR S&P 600 SC GR ETF 0.36% 11,963 $1.1M Add +2.5%
BRK.B Berkshire Hathaway Inc. Class B 0.34% 2,170 $1.1M No change
AMZN Amazon.com Inc. 0.29% 3,957 $913K Add +2.7%
XOM Exxon Mobil Corp. 0.28% 7,295 $878K Reduce -34.8%
JPM JPMorgan Chase & Co. 0.26% 2,531 $815K Reduce -14.3%
SDY SS SPDR S&P Dividend ETF 0.25% 5,674 $790K Reduce -6.1%
VOO Vanguard S&P 500 ETF 0.22% 1,115 $699K Add +5.3%
NOW ServiceNow Inc. 0.21% 4,390 $673K No change
MS Morgan Stanley 0.21% 3,736 $663K Reduce -5.7%
VGT Vanguard Info Tech ETF 0.20% 847 $638K No change
GOOGL Alphabet Inc. Class A 0.20% 2,005 $628K Add +1.8%
TSLA Tesla Inc. 0.19% 1,342 $604K Reduce -18.6%
VTI VG Morningstar TS MKT ETF-US 0.18% 1,745 $585K Add +6.5%
MCK McKesson Corp. 0.17% 675 $554K No change
META Meta Platforms Inc. Class A 0.17% 821 $542K No change
HD Home Depot Inc. 0.17% 1,549 $533K Add +0.9%
AVGO Broadcom Inc. 0.17% 1,514 $524K Add +2.2%
UNP Union Pacific Corp. 0.14% 1,980 $458K No change
PM Philip Morris International 0.13% 2,586 $415K Reduce -16.2%
IVE iShares S&P 500 Value ETF 0.13% 1,932 $410K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.13% 7,425 $408K No change
EDC Dir Da Ms Em Ma Bul 3X ETF-U 0.11% 6,648 $363K Add +0.2%
IEFA iShares Core MSCI Eafe ETF 0.11% 3,950 $353K Reduce -2.1%
XLK SS Technology Select Sector 0.11% 2,452 $353K Add +15.7%
LLY Eli Lilly & Co. 0.11% 322 $346K Add +13.8%
MU Micron Technology Inc. 0.10% 1,144 $327K New
SCHC Schwab Intl Small-Cap Equity 0.10% 7,097 $323K Add +6.2%
OEF iShares S&P 100 ETF 0.10% 900 $309K No change
GOOG Alphabet Inc. Class C 0.10% 972 $305K No change
ORCL Oracle Corp. 0.09% 1,475 $287K Reduce -11.1%
GS Goldman Sachs Group Inc. 0.09% 326 $287K Reduce -7.9%
CSCO Cisco Systems Inc. 0.09% 3,650 $281K No change
CVX Chevron Corp. 0.09% 1,837 $280K Reduce -2.3%
GLD SPDR Gold Shares 0.09% 697 $276K No change
ABBV Abbvie Inc. 0.08% 1,151 $263K Add +7.1%
NFLX Netflix Inc. 0.08% 2,756 $258K Reduce -2.6%
IYF iShares US Financials ETF 0.08% 2,000 $258K No change
AB Alliancebernstein Holding LP 0.08% 6,503 $250K Reduce -76.4%
TFC Truist Financial Corp. 0.08% 5,000 $246K No change
QQEW First TR Nasdaq-100 Sel Eq 0.08% 1,700 $242K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 795 $235K No change
CEG Constellation Energy 0.07% 657 $232K Reduce -2.4%
KO The Coca-Cola Co. 0.07% 3,307 $231K Add +8.1%
V Visa Inc. Class A 0.07% 654 $229K Add +7.4%
WMT Walmart Inc. 0.07% 2,042 $227K New
TRV The Travelers Cos Inc. 0.07% 778 $226K No change
JNJ Johnson & Johnson 0.07% 1,062 $220K Reduce -2.4%
DY Dycom Industries Inc. 0.07% 622 $210K New
GLW Corning Inc. 0.07% 2,378 $208K New
ITOT iShares Core S&P Total U.S. 0.07% 1,388 $206K New
ED Consolidated Edison Inc. 0.06% 2,066 $205K No change

Portfolio Sells Q3 2025 → Q4 2025
AB Alliancebernstein Holding LP Reduce -76.4% 0.08% −0.26
VUG Vanguard Mrngstar GR ETF-Sui Reduce -2.3% 5.38% −0.14
XOM Exxon Mobil Corp. Reduce -34.8% 0.28% −0.13
MSFT Microsoft Corp. Reduce -2.9% 0.66% −0.08
T AT&T Inc. Sold out 0.00% −0.07
ORCL Oracle Corp. Reduce -11.1% 0.09% −0.06
SCHG Schwab US Large-Cap Growth Reduce -1.1% 5.60% −0.05
TSLA Tesla Inc. Reduce -18.6% 0.19% −0.05
JPM JPMorgan Chase & Co. Reduce -14.3% 0.26% −0.04
PM Philip Morris International Reduce -16.2% 0.13% −0.03
NFLX Netflix Inc. Reduce -2.6% 0.08% −0.03
SDY SS SPDR S&P Dividend ETF Reduce -6.1% 0.25% −0.02
CVX Chevron Corp. Reduce -2.3% 0.09% −0.01
IEFA iShares Core MSCI Eafe ETF Reduce -2.1% 0.11% −0.00
GS Goldman Sachs Group Inc. Reduce -7.9% 0.09% −0.00
CEG Constellation Energy Reduce -2.4% 0.07% +0.00
JNJ Johnson & Johnson Reduce -2.4% 0.07% +0.00
MS Morgan Stanley Reduce -5.7% 0.21% +0.01
AAPL Apple Inc. Reduce -2.0% 1.15% +0.03

Portfolio Buys Q3 2025 → Q4 2025
SCHF Schwab Intl Equity ETF Add +1.8% 11.55% +0.35
SCHV Schwab US Large-Cap Value Add +4.3% 4.95% +0.19
VEA Vanguard Ftse Developed ETF Add +0.7% 6.75% +0.19
VOE Vngrd Mrngstr MD-Cap Val ETF Add +3.8% 4.16% +0.13
VBR Vngrd Mrngst SL-CP Val ETF-U Add +3.6% 4.18% +0.13
MU Micron Technology Inc. New 0.10% +0.10
VBK Van Morst SML-Cap Gro-Usd Inc. Add +2.9% 4.32% +0.10
MRK Merck & Co. Inc. Add +0.3% 0.46% +0.09
AMLP Alerian MLP ETF Add +11.5% 0.98% +0.09
WMT Walmart Inc. New 0.07% +0.07
VTV Vanguard Mrngstr Val ETF-Aui Add +1.3% 4.41% +0.07
DY Dycom Industries Inc. New 0.07% +0.07
GLW Corning Inc. New 0.07% +0.07
ITOT iShares Core S&P Total U.S. New 0.07% +0.07
GOOGL Alphabet Inc. Class A Add +1.8% 0.20% +0.04
LLY Eli Lilly & Co. Add +13.8% 0.11% +0.04
SPY SS SPDR S&P 500 ETF Trust-US Add +5.6% 0.60% +0.03
REET iShares Global REIT ETF Add +9.6% 0.55% +0.03
SLYV SS SPDR S&P 600 SC Val ETF Add +3.6% 0.60% +0.02
FREL Fidelity MSCI RL Est Indx Add +6.5% 2.53% +0.02
AMZN Amazon.com Inc. Add +2.7% 0.29% +0.02
XLK SS Technology Select Sector Add +15.7% 0.11% +0.02
MDYV SS SPDR S&P 400 MC Val ETF Add +2.6% 0.63% +0.01
VOO Vanguard S&P 500 ETF Add +5.3% 0.22% +0.01
VTI VG Morningstar TS MKT ETF-US Add +6.5% 0.18% +0.01
QQQ Invesco QQQ Trust Series 1 Add +2.0% 0.42% +0.01
VSS Vanguard Ftse All Wo X-US SC Add +3.0% 0.57% +0.01
AVGO Broadcom Inc. Add +2.2% 0.17% +0.01
KO The Coca-Cola Co. Add +8.1% 0.07% +0.01
EDC Dir Da Ms Em Ma Bul 3X ETF-U Add +0.2% 0.11% +0.01
V Visa Inc. Class A Add +7.4% 0.07% +0.01
IFGL iShares International Develo Add +2.6% 0.54% +0.00
SCHC Schwab Intl Small-Cap Equity Add +6.2% 0.10% +0.00
ABBV Abbvie Inc. Add +7.1% 0.08% +0.00
SLYG SS SPDR S&P 600 SC GR ETF Add +2.5% 0.36% +0.00
MDYG SS SPDR S&P 400 MC GR ETF Add +0.6% 0.37% −0.00
NVDA Nvidia Corp. Add +1.6% 1.09% −0.00
VNQ Vanguard Real Estate ETF Add +3.8% 1.29% −0.02
SCHE Schwab Emrg Mrkts Eqty ETF Add +2.7% 2.25% −0.03
HD Home Depot Inc. Add +0.9% 0.17% −0.03
VNQI Vanguard GLBL Ex-US Real Est Add +4.1% 3.15% −0.06
VWO Vanguard Ftse Emerging Marke Add +1.1% 6.82% −0.11
VOT Vngrd Mrngstr MC GRW ETF-Usd Add +2.3% 4.37% −0.22
BCI Abrdn Bloomberg All Commodit Add +6.3% 4.86% −0.28
MLPX Global X MLP & Energy Infras Add +1.9% 7.87% −0.29

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