Institutional Manager · CIK 0001994332

Payne Capital Management, LLC

New York, NY · File #028-25891

Latest AUM

$310.5M

Positions

Top-10 Concentration

64.3%

Filings

Portfolio Value Over Time

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	SERVICENOW INC	NOW	-3,512	-$3.2M	+$3.4M
REDUCE	NETFLIX INC	NFLX	-2,473	-$3.0M	+$3.0M
REDUCE	ABRDN ETFS	003261104	-46,625	-$1.0M	+$1.6M
ADD	ALLIANCEBERNSTEIN HLDG L P	01881G106	+21,090	+$806,059	-$1,690
REDUCE	SCHWAB STRATEGIC TR	808524805	-27,510	-$640,433	-$1.2M
REDUCE	SCHWAB STRATEGIC TR	808524409	-21,904	-$637,626	-$264,804
REDUCE	FIDELITY COVINGTON TRUST	316092857	-18,192	-$505,919	+$273,995
REDUCE	GLOBAL X FDS	37954Y293	-7,697	-$482,679	+$897,766
REDUCE	VANGUARD INDEX FDS	922908512	-2,687	-$469,094	-$207,449
REDUCE	VANGUARD INDEX FDS	922908611	-2,199	-$458,952	-$192,849

Sector Allocation

Technology

3.4%$10.7M

Healthcare

0.8%$2.3M

Consumer Discretionary

0.7%$2.2M

Financials

0.6%$1.9M

Energy

0.5%$1.6M

Communication Services

0.3%$942,144

Industrials

0.1%$468,013

Utilities

0.1%$429,138

Consumer Staples

0.1%$202,939

Filing History

Feb 2, 202613F HOLDINGS REPORTQ/E Dec 202581 pos · $316.8M
Dec 1, 202513F HOLDINGS REPORTQ/E Dec 202577 pos · $310.5M
Nov 25, 202513F HOLDINGS REPORTQ/E Sep 202571 pos · $234.6M
Nov 25, 202513F HOLDINGS REPORTQ/E Sep 202569 pos · $231.8M
Nov 25, 202513F HOLDINGS REPORTQ/E Sep 202577 pos · $259.5M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SCHWAB STRATEGIC TR	808524805	1,521,679	$36.6M	11.86%
2	GLOBAL X FDS	37954Y293	411,815	$24.9M	8.08%
3	VANGUARD INTL EQUITY INDEX F	922042858	401,723	$21.6M	7.00%
4	VANGUARD TAX-MANAGED FDS	921943858	342,538	$21.4M	6.94%
5	SCHWAB STRATEGIC TR	808524300	544,158	$17.8M	5.76%
6	VANGUARD INDEX FDS	922908736	34,946	$17.0M	5.53%
7	SCHWAB STRATEGIC TR	808524409	529,661	$15.7M	5.09%
8	ABRDN ETFS	003261104	787,692	$15.4M	4.99%
9	VANGUARD INDEX FDS	922908744	73,149	$14.0M	4.53%
10	VANGUARD INDEX FDS	922908538	49,574	$13.8M	4.49%
11	VANGUARD INDEX FDS	922908595	45,291	$13.7M	4.44%
12	VANGUARD INDEX FDS	922908611	62,571	$13.3M	4.30%
13	VANGUARD INDEX FDS	922908512	74,302	$13.2M	4.27%
14	VANGUARD INTL EQUITY INDEX F	922042676	217,903	$10.0M	3.24%
15	FIDELITY COVINGTON TRUST	316092857	297,826	$8.0M	2.60%
16	SCHWAB STRATEGIC TR	808524706	217,412	$7.1M	2.31%
17	VANGUARD INDEX FDS	922908553	46,333	$4.1M	1.33%
18	APPLE INC	AAPL	13,362	$3.6M	1.18%
19	NVIDIA CORPORATION	NVDA	18,517	$3.5M	1.12%
20	ALPS ETF TR	00162Q452	65,739	$3.1M	1.00%