Piedmont Capital Management

WHITEFISH, MTfiles as Piedmont Capital Management, LLC

$198m in 58 US stocks at the end of 30 June 2026. The top 10 are 74.7% of the money. It changed about 34.8% of the portfolio this quarter.

Value

$198m

Stocks

Top 10 share

74.7%

Turnover

34.8%

What changed this quarter

New

Bought for the first time this quarter.

Vanguard World FDMGC
15.0% of the fund
Vanguard Index FDSVOO
8.8% of the fund
Vaneck ETF TrustSMH
5.5% of the fund
IntelINTC
0.2% of the fund
General ElectricGE
0.1% of the fund
Everus Construction GroupECG
0.1% of the fund
Amazon.comAMZN
0.1% of the fund
AbbVieABBV
0.1% of the fund
Select Sector Spdr TRXLRE
0.1% of the fund
Eli LillyLLY
0.1% of the fund

Added

Bought more of a stock they already held.

Ishares TRFLOT
5.3% of the fund
+4%
Ishares TRIWC
3.1% of the fund
+29%
EA Series TrustFRDM
2.7% of the fund
+4%
Invesco Exch Traded FD TR IIBKLN
2.5% of the fund
+6%
Vanguard Index FDSVTI
2.0% of the fund
+3%
Ishares TRIVV
0.6% of the fund
+23%
Vanguard BD Index FDSBND
0.6% of the fund
+3%
AppleAAPL
0.4% of the fund
+9%
NikeNKE
0.2% of the fund
+8%
Procter & GamblePG
0.1% of the fund
+5%

Cut

Sold some of their stake.

Spdr Index SHS FDSFEZ
8.6% of the fund
-34%
Ishares TRIEFA
7.3% of the fund
-17%
Spdr Series TrustRWR
5.3% of the fund
-30%
Cisco SystemsCSCO
1.2% of the fund
-3%
Johnson & JohnsonJNJ
0.7% of the fund
-4%
International Business MachinesIBM
0.7% of the fund
-3%
World Gold TRGLDM
0.6% of the fund
-93%
MerckMRK
0.6% of the fund
-3%
Vaneck ETF TrustGDX
0.6% of the fund
-89%
Vanguard Index FDSVNQ
0.5% of the fund
-3%
ExxonMobil HoldingsXOM
0.4% of the fund
-4%
3MMMM
0.2% of the fund
-9%

Sold out

Sold their entire stake.

Putnam ETF TrustPVAL
-100%
Ishares TRIWP
-100%

Holdings

Vanguard World FDMGC
Share
15.0%
Value
$30m
Shares
108,485
New
Vanguard Whitehall FDSVYM
Share
13.2%
Value
$26m
Shares
164,700
Held
Vanguard Index FDSVOO
Share
8.8%
Value
$18m
Shares
25,511
New
Spdr Index SHS FDSFEZ
Share
8.6%
Value
$17m
Shares
251,454
-34%
Ishares TRIEFA
Share
7.3%
Value
$14m
Shares
150,002
-17%
Vaneck ETF TrustSMH
Share
5.5%
Value
$11m
Shares
17,512
New
Spdr Series TrustRWR
Share
5.3%
Value
$11m
Shares
92,691
-30%
Ishares TRFLOT
Share
5.3%
Value
$10m
Shares
204,778
+4%
Ishares TRIWC
Share
3.1%
Value
$6m
Shares
30,801
+29%
EA Series TrustFRDM
Share
2.7%
Value
$5m
Shares
75,263
+4%
Invesco Exch Traded FD TR IIBKLN
Share
2.5%
Value
$5m
Shares
245,326
+6%
Vanguard Index FDSVTI
Share
2.0%
Value
$4m
Shares
10,618
+3%
Vaneck ETF TrustANGL
Share
1.7%
Value
$3m
Shares
113,754
Held
Ishares TR
Share
1.6%
Value
$3m
Shares
46,086
Held
Vaneck ETF TrustCLOI
Share
1.5%
Value
$3m
Shares
55,100
Held
Cisco SystemsCSCO
Share
1.2%
Value
$2m
Shares
20,334
-3%
Vanguard Specialized FundsVIG
Share
0.9%
Value
$2m
Shares
7,600
Held
Coca-ColaKO
Share
0.7%
Value
$1m
Shares
17,484
Held
Ishares TRAOR
Share
0.7%
Value
$1m
Shares
20,351
Held
Invesco QQQ TR
Share
0.7%
Value
$1m
Shares
1,875
Held
Johnson & JohnsonJNJ
Share
0.7%
Value
$1m
Shares
5,358
-4%
International Business MachinesIBM
Share
0.7%
Value
$1m
Shares
4,601
-3%
World Gold TRGLDM
Share
0.6%
Value
$1m
Shares
15,681
-93%
MerckMRK
Share
0.6%
Value
$1m
Shares
9,878
-3%
Vaneck ETF TrustGDX
Share
0.6%
Value
$1m
Shares
15,624
-89%
Verizon CommunicationsVZ
Share
0.6%
Value
$1m
Shares
27,505
Held
Ishares TRIVV
Share
0.6%
Value
$1m
Shares
1,509
+23%
Vanguard BD Index FDSBND
Share
0.6%
Value
$1m
Shares
15,154
+3%
Vanguard Index FDSVNQ
Share
0.5%
Value
$965,535
Shares
9,934
-3%
AmgenAMGN
Share
0.5%
Value
$965,168
Shares
2,678
Held
ChevronCVX
Share
0.5%
Value
$946,974
Shares
5,700
Held
UnitedHealth GroupUNH
Share
0.4%
Value
$788,990
Shares
1,846
Held
JPMorgan ChaseJPM
Share
0.4%
Value
$786,621
Shares
2,357
Held
ExxonMobil HoldingsXOM
Share
0.4%
Value
$786,227
Shares
5,765
-4%
AppleAAPL
Share
0.4%
Value
$729,013
Shares
2,473
+9%
CaterpillarCAT
Share
0.4%
Value
$724,185
Shares
732
Held
StantecSTN
Share
0.4%
Value
$703,928
Shares
10,458
Held
MicrosoftMSFT
Share
0.4%
Value
$698,948
Shares
1,806
Held
3MMMM
Share
0.2%
Value
$443,366
Shares
2,754
-9%
Simon Property GroupSPG
Share
0.2%
Value
$399,924
Shares
1,802
Held
Vanguard World FDMGK
Share
0.2%
Value
$348,658
Shares
3,960
Held
State STR Spdr S&P 500 ETF TSPY
Share
0.2%
Value
$333,055
Shares
446
Held
IntelINTC
Share
0.2%
Value
$327,514
Shares
2,575
New
Home DepotHD
Share
0.2%
Value
$317,236
Shares
900
Held
NikeNKE
Share
0.2%
Value
$312,101
Shares
7,363
+8%
Goldman Sachs GroupGS
Share
0.2%
Value
$300,453
Shares
294
Held
Vaneck ETF TrustMOAT
Share
0.2%
Value
$297,043
Shares
2,820
Held
Procter & GamblePG
Share
0.1%
Value
$273,204
Shares
1,865
+5%
WalmartWMT
Share
0.1%
Value
$254,045
Shares
2,340
Held
Glacier BancorpGBCI
Share
0.1%
Value
$242,219
Shares
4,601
Held
General ElectricGE
Share
0.1%
Value
$237,261
Shares
635
New
Everus Construction GroupECG
Share
0.1%
Value
$236,906
Shares
1,553
New
OracleORCL
Share
0.1%
Value
$228,843
Shares
1,599
Held
Amazon.comAMZN
Share
0.1%
Value
$226,583
Shares
929
New
AbbVieABBV
Share
0.1%
Value
$220,976
Shares
879
New
Select Sector Spdr TRXLRE
Share
0.1%
Value
$209,285
Shares
4,720
New
Eli LillyLLY
Share
0.1%
Value
$206,238
Shares
174
New
Gabelli Utility TrustGUT
Share
<0.1%
Value
$164,543
Shares
24,977
Held

Company	Share of fund	Value	Shares	Change
Vanguard World FDMGC	15.0%	$30m	108,485	New
Vanguard Whitehall FDSVYM	13.2%	$26m	164,700	Held
Vanguard Index FDSVOO	8.8%	$18m	25,511	New
Spdr Index SHS FDSFEZ	8.6%	$17m	251,454	-34%
Ishares TRIEFA	7.3%	$14m	150,002	-17%
Vaneck ETF TrustSMH	5.5%	$11m	17,512	New
Spdr Series TrustRWR	5.3%	$11m	92,691	-30%
Ishares TRFLOT	5.3%	$10m	204,778	+4%
Ishares TRIWC	3.1%	$6m	30,801	+29%
EA Series TrustFRDM	2.7%	$5m	75,263	+4%
Invesco Exch Traded FD TR IIBKLN	2.5%	$5m	245,326	+6%
Vanguard Index FDSVTI	2.0%	$4m	10,618	+3%
Vaneck ETF TrustANGL	1.7%	$3m	113,754	Held
Ishares TR	1.6%	$3m	46,086	Held
Vaneck ETF TrustCLOI	1.5%	$3m	55,100	Held
Cisco SystemsCSCO	1.2%	$2m	20,334	-3%
Vanguard Specialized FundsVIG	0.9%	$2m	7,600	Held
Coca-ColaKO	0.7%	$1m	17,484	Held
Ishares TRAOR	0.7%	$1m	20,351	Held
Invesco QQQ TR	0.7%	$1m	1,875	Held
Johnson & JohnsonJNJ	0.7%	$1m	5,358	-4%
International Business MachinesIBM	0.7%	$1m	4,601	-3%
World Gold TRGLDM	0.6%	$1m	15,681	-93%
MerckMRK	0.6%	$1m	9,878	-3%
Vaneck ETF TrustGDX	0.6%	$1m	15,624	-89%
Verizon CommunicationsVZ	0.6%	$1m	27,505	Held
Ishares TRIVV	0.6%	$1m	1,509	+23%
Vanguard BD Index FDSBND	0.6%	$1m	15,154	+3%
Vanguard Index FDSVNQ	0.5%	$965,535	9,934	-3%
AmgenAMGN	0.5%	$965,168	2,678	Held
ChevronCVX	0.5%	$946,974	5,700	Held
UnitedHealth GroupUNH	0.4%	$788,990	1,846	Held
JPMorgan ChaseJPM	0.4%	$786,621	2,357	Held
ExxonMobil HoldingsXOM	0.4%	$786,227	5,765	-4%
AppleAAPL	0.4%	$729,013	2,473	+9%
CaterpillarCAT	0.4%	$724,185	732	Held
StantecSTN	0.4%	$703,928	10,458	Held
MicrosoftMSFT	0.4%	$698,948	1,806	Held
3MMMM	0.2%	$443,366	2,754	-9%
Simon Property GroupSPG	0.2%	$399,924	1,802	Held
Vanguard World FDMGK	0.2%	$348,658	3,960	Held
State STR Spdr S&P 500 ETF TSPY	0.2%	$333,055	446	Held
IntelINTC	0.2%	$327,514	2,575	New
Home DepotHD	0.2%	$317,236	900	Held
NikeNKE	0.2%	$312,101	7,363	+8%
Goldman Sachs GroupGS	0.2%	$300,453	294	Held
Vaneck ETF TrustMOAT	0.2%	$297,043	2,820	Held
Procter & GamblePG	0.1%	$273,204	1,865	+5%
WalmartWMT	0.1%	$254,045	2,340	Held
Glacier BancorpGBCI	0.1%	$242,219	4,601	Held
General ElectricGE	0.1%	$237,261	635	New
Everus Construction GroupECG	0.1%	$236,906	1,553	New
OracleORCL	0.1%	$228,843	1,599	Held
Amazon.comAMZN	0.1%	$226,583	929	New
AbbVieABBV	0.1%	$220,976	879	New
Select Sector Spdr TRXLRE	0.1%	$209,285	4,720	New
Eli LillyLLY	0.1%	$206,238	174	New
Gabelli Utility TrustGUT	<0.1%	$164,543	24,977	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 14.5% since 30 June 2025.

Where the money is

Technology2.9%

Health care2.4%

Industrials1.1%

Everyday goods1.0%

Energy0.9%

Financial services0.7%

Media & telecom0.6%

Retail & consumer0.6%

Real estate0.2%

Other89.8%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.