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Piedmont Capital Management, LLC

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13F filer, CIK 1656150, WHITEFISH, MT

Piedmont Capital Management, LLC reported $172,887,866 across 55 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 78.07% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001656150-25-000003

Period
2025-06-30
Reported value
$173M
Holdings
55
Top 10 weight
78.07%
New
10
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FEZnew+342,504$20.5M
SPHQnew+283,226$20.2M
VOOnew+21,103$12M
UNHnew+1,739$543K
NKEnew+6,595$469K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
HDVexited-333,398-$36.1M
XLREreduced-34,926-$1.45M
MMMreduced-5,647-$860K
DOWreduced-14,172-$375K
GSreduced-394-$279K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001656150-25-000003, largest first. % of portfolio is the value over $172,887,866, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VYMVANGUARD WHITEHALL FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,622 shares; 2024Q4: 162,237 shares; 2025Q1: 168,004 shares; 2025Q2: 169,103 shares 169,103$22.5M13.04%+1,099Timeline
FEZSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 342,504 shares 342,504$20.5M11.83%newTimeline
SPHQINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 283,226 shares 283,226$20.2M11.67%newTimeline
GLDMWORLD GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 237,906 shares; 2024Q4: 237,864 shares; 2025Q1: 235,622 shares; 2025Q2: 236,683 shares 236,683$15.5M8.97%+1,061Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 177,146 shares; 2025Q2: 176,647 shares 176,647$14.7M8.53%-499Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,070 shares; 2024Q4: 25,146 shares; 2025Q1: not reported; 2025Q2: 21,103 shares 21,103$12M6.93%newTimeline
FLOTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 153,693 shares; 2024Q4: 158,988 shares; 2025Q1: 164,919 shares; 2025Q2: 168,878 shares 168,878$8.62M4.98%+3,959Timeline
IWPISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 59,232 shares; 2025Q1: 62,074 shares; 2025Q2: 61,082 shares 61,082$8.47M4.9%-992Timeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 160,664 shares; 2025Q2: 159,335 shares 159,335$8.29M4.8%-1,329Timeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 169,113 shares; 2024Q4: 172,372 shares; 2025Q1: 190,694 shares; 2025Q2: 199,331 shares 199,331$4.17M2.41%+8,637Timeline
VTIVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,883 shares; 2024Q4: 10,129 shares; 2025Q1: 10,099 shares; 2025Q2: 10,093 shares 10,093$3.07M1.77%-6Timeline
ANGLVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 87,131 shares; 2024Q4: 90,106 shares; 2025Q1: 91,563 shares; 2025Q2: 95,164 shares 95,164$2.79M1.61%+3,601Timeline
ISHARES TRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,122 shares; 2024Q4: 47,124 shares; 2025Q1: 48,052 shares; 2025Q2: 47,998 shares 47,998$2.71M1.57%-54
CLOIVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,505 shares; 2024Q4: 38,912 shares; 2025Q1: 44,604 shares; 2025Q2: 46,792 shares 46,792$2.48M1.43%+2,188Timeline
ARGTGLOBAL X FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 18,018 shares; 2025Q2: 20,102 shares 20,102$1.7M0.99%+2,084Timeline
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,721 shares; 2024Q4: 22,643 shares; 2025Q1: 22,392 shares; 2025Q2: 22,068 shares 22,068$1.53M0.89%-324Timeline
AORISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,433 shares; 2024Q4: 23,216 shares; 2025Q1: 23,048 shares; 2025Q2: 23,190 shares 23,190$1.43M0.83%+142Timeline
VIGVANGUARD SPECIALIZED FUNDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,375 shares; 2024Q4: 6,854 shares; 2025Q1: 6,832 shares; 2025Q2: 6,950 shares 6,950$1.42M0.82%+118Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,492 shares; 2024Q4: 5,421 shares; 2025Q1: 5,365 shares; 2025Q2: 4,758 shares 4,758$1.4M0.81%-607Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,181 shares; 2024Q4: 17,108 shares; 2025Q1: 17,110 shares; 2025Q2: 17,663 shares 17,663$1.25M0.72%+553Timeline
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,823 shares; 2024Q4: 27,750 shares; 2025Q1: 27,356 shares; 2025Q2: 27,084 shares 27,084$1.17M0.68%-272Timeline
STNSTANTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,458 shares; 2024Q4: 10,458 shares; 2025Q1: 10,458 shares; 2025Q2: 10,458 shares 10,458$1.14M0.66%0Timeline
BNDVANGUARD BD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,231 shares; 2024Q4: 13,320 shares; 2025Q1: 13,285 shares; 2025Q2: 13,212 shares 13,212$973K0.56%-73Timeline
VNQVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,261 shares; 2024Q4: 11,093 shares; 2025Q1: 10,709 shares; 2025Q2: 10,780 shares 10,780$960K0.56%+71Timeline
INVESCO QQQ TRINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,726 shares; 2024Q4: 1,814 shares; 2025Q1: 1,781 shares; 2025Q2: 1,724 shares 1,724$951K0.55%-57
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,729 shares; 2024Q4: 1,729 shares; 2025Q1: 1,670 shares; 2025Q2: 1,803 shares 1,803$897K0.52%+133Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,715 shares; 2024Q4: 2,715 shares; 2025Q1: 2,715 shares; 2025Q2: 2,748 shares 2,748$838K0.48%+33Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,578 shares; 2024Q4: 3,563 shares; 2025Q1: 3,538 shares; 2025Q2: 5,438 shares 5,438$831K0.48%+1,900Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,226 shares; 2024Q4: 5,170 shares; 2025Q1: 5,170 shares; 2025Q2: 5,322 shares 5,322$762K0.44%+152Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,692 shares; 2024Q4: 3,692 shares; 2025Q1: 3,694 shares; 2025Q2: 9,494 shares 9,494$752K0.43%+5,800Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,624 shares; 2024Q4: 2,586 shares; 2025Q1: 2,567 shares; 2025Q2: 2,622 shares 2,622$732K0.42%+55Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,396 shares; 2024Q4: 2,396 shares; 2025Q1: 2,387 shares; 2025Q2: 2,328 shares 2,328$675K0.39%-59Timeline
SLVISHARES SILVER TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,473 shares; 2024Q4: 23,473 shares; 2025Q1: 23,473 shares; 2025Q2: 20,120 shares 20,120$660K0.38%-3,353Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,031 shares; 2024Q4: 6,033 shares; 2025Q1: 6,014 shares; 2025Q2: 6,016 shares 6,016$648K0.38%+2Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 856 shares; 2024Q4: 882 shares; 2025Q1: 908 shares; 2025Q2: 931 shares 931$578K0.33%+23Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,739 shares 1,739$543K0.31%newTimeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,595 shares 6,595$469K0.27%newTimeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,045 shares; 2024Q4: 8,816 shares; 2025Q1: 8,661 shares; 2025Q2: 3,014 shares 3,014$459K0.27%-5,647Timeline
XLRESELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,803 shares; 2024Q4: 36,621 shares; 2025Q1: 44,237 shares; 2025Q2: 9,311 shares 9,311$386K0.22%-34,926Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,391 shares; 2024Q4: 1,392 shares; 2025Q1: not reported; 2025Q2: 1,553 shares 1,553$340K0.2%newTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 503 shares; 2024Q4: 503 shares; 2025Q1: 503 shares; 2025Q2: 503 shares 503$311K0.18%0Timeline
MGKVANGUARD WORLD FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,438 shares; 2024Q4: 126,385 shares; 2025Q1: not reported; 2025Q2: 792 shares 792$290K0.17%newTimeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,846 shares; 2024Q4: 1,849 shares; 2025Q1: 1,851 shares; 2025Q2: 1,791 shares 1,791$288K0.17%-60Timeline
CATCATERPILLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 732 shares; 2024Q4: 732 shares; 2025Q1: 732 shares; 2025Q2: 732 shares 732$284K0.16%0Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,053 shares; 2024Q4: 1,053 shares; 2025Q1: 1,054 shares; 2025Q2: 744 shares 744$273K0.16%-310Timeline
MOATVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,880 shares; 2024Q4: 2,820 shares; 2025Q1: 2,820 shares; 2025Q2: 2,820 shares 2,820$264K0.15%0Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,374 shares; 2025Q1: not reported; 2025Q2: 2,340 shares 2,340$229K0.13%newTimeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 930 shares; 2024Q4: 930 shares; 2025Q1: not reported; 2025Q2: 1,090 shares 1,090$224K0.13%newTimeline
GBCIGLACIER BANCORP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,032 shares; 2024Q4: 5,256 shares; 2025Q1: not reported; 2025Q2: 5,048 shares 5,048$217K0.13%newTimeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,281 shares; 2024Q4: 1,281 shares; 2025Q1: 1,281 shares; 2025Q2: 1,320 shares 1,320$210K0.12%+39Timeline
GSGOLDMAN SACHS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 848 shares; 2024Q4: 704 shares; 2025Q1: 688 shares; 2025Q2: 294 shares 294$208K0.12%-394Timeline
DOWDOW HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,529 shares; 2024Q4: 21,536 shares; 2025Q1: 21,898 shares; 2025Q2: 7,726 shares 7,726$205K0.12%-14,172Timeline
TUTELUS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,998 shares; 2024Q4: 23,998 shares; 2025Q1: 11,999 shares; 2025Q2: 11,999 shares 11,999$193K0.11%0Timeline
GUTGABELLI UTIL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,710 shares; 2024Q4: 24,710 shares; 2025Q1: 24,710 shares; 2025Q2: 27,437 shares 27,437$159K0.09%+2,727Timeline
NAKNORTHERN DYNASTY MINERALS LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares 10,000$13.4K0.01%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HDVISHARES TR333,398$36.1Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001656150-25-000003 base2025-08-13acceptance time not in the bulk data set