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Piedmont Capital Management, LLC

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13F filer, CIK 1656150, WHITEFISH, MT

Piedmont Capital Management, LLC reported $195,976,982 across 52 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 79.54% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001656150-26-000001

Period
2025-12-31
Reported value
$196M
Holdings
52
Top 10 weight
79.54%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BKLNadded+14,477$304K
FLOTadded+5,862$298K
CLOIadded+4,484$237K
ANGLadded+6,753$198K
FEZadded+2,962$191K

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
GLDMreduced-8,187-$699K
GDXreduced-2,789-$239K
VYMreduced-653-$93.7K
SLVreduced-1,161-$74.8K
GLDreduced-133-$52.7K

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, Q4 2025

Share positions as resolved from 13F-HR 0001656150-26-000001, largest first. % of portfolio is the value over $195,976,982, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FEZSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 342,504 shares; 2025Q3: 370,047 shares; 2025Q4: 373,009 shares 373,009$24M12.26%+2,962Timeline
VUGVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 48,449 shares; 2025Q4: 48,641 shares 48,641$23.7M12.11%+192Timeline
VYMVANGUARD WHITEHALL FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,622 shares; 2024Q4: 162,237 shares; 2025Q1: 168,004 shares; 2025Q2: 169,103 shares; 2025Q3: 164,946 shares; 2025Q4: 164,293 shares 164,293$23.6M12.03%-653Timeline
GLDMWORLD GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 237,906 shares; 2024Q4: 237,864 shares; 2025Q1: 235,622 shares; 2025Q2: 236,683 shares; 2025Q3: 236,351 shares; 2025Q4: 228,164 shares 228,164$19.5M9.94%-8,187Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 177,146 shares; 2025Q2: 176,647 shares; 2025Q3: 179,925 shares; 2025Q4: 179,528 shares 179,528$16.1M8.2%-397Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,070 shares; 2024Q4: 25,146 shares; 2025Q1: not reported; 2025Q2: 21,103 shares; 2025Q3: 22,124 shares; 2025Q4: 22,224 shares 22,224$13.9M7.11%+100Timeline
GDXVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 160,664 shares; 2025Q2: 159,335 shares; 2025Q3: 156,610 shares; 2025Q4: 153,821 shares 153,821$13.2M6.73%-2,789Timeline
FLOTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 153,693 shares; 2024Q4: 158,988 shares; 2025Q1: 164,919 shares; 2025Q2: 168,878 shares; 2025Q3: 176,707 shares; 2025Q4: 182,569 shares 182,569$9.29M4.74%+5,862Timeline
IWPISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 59,232 shares; 2025Q1: 62,074 shares; 2025Q2: 61,082 shares; 2025Q3: 57,797 shares; 2025Q4: 57,629 shares 57,629$7.89M4.03%-168Timeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 169,113 shares; 2024Q4: 172,372 shares; 2025Q1: 190,694 shares; 2025Q2: 199,331 shares; 2025Q3: 210,031 shares; 2025Q4: 224,508 shares 224,508$4.71M2.41%+14,477Timeline
VTIVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,883 shares; 2024Q4: 10,129 shares; 2025Q1: 10,099 shares; 2025Q2: 10,093 shares; 2025Q3: 10,064 shares; 2025Q4: 10,171 shares 10,171$3.41M1.74%+107Timeline
ANGLVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 87,131 shares; 2024Q4: 90,106 shares; 2025Q1: 91,563 shares; 2025Q2: 95,164 shares; 2025Q3: 101,801 shares; 2025Q4: 108,554 shares 108,554$3.19M1.63%+6,753Timeline
CLOIVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,505 shares; 2024Q4: 38,912 shares; 2025Q1: 44,604 shares; 2025Q2: 46,792 shares; 2025Q3: 49,292 shares; 2025Q4: 53,776 shares 53,776$2.84M1.45%+4,484Timeline
ISHARES TRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,122 shares; 2024Q4: 47,124 shares; 2025Q1: 48,052 shares; 2025Q2: 47,998 shares; 2025Q3: 47,649 shares; 2025Q4: 47,346 shares 47,346$2.7M1.38%-303
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,721 shares; 2024Q4: 22,643 shares; 2025Q1: 22,392 shares; 2025Q2: 22,068 shares; 2025Q3: 22,379 shares; 2025Q4: 22,121 shares 22,121$1.7M0.87%-258Timeline
VIGVANGUARD SPECIALIZED FUNDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,375 shares; 2024Q4: 6,854 shares; 2025Q1: 6,832 shares; 2025Q2: 6,950 shares; 2025Q3: 7,341 shares; 2025Q4: 7,512 shares 7,512$1.65M0.84%+171Timeline
AORISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,433 shares; 2024Q4: 23,216 shares; 2025Q1: 23,048 shares; 2025Q2: 23,190 shares; 2025Q3: 22,836 shares; 2025Q4: 23,407 shares 23,407$1.52M0.78%+571Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,492 shares; 2024Q4: 5,421 shares; 2025Q1: 5,365 shares; 2025Q2: 4,758 shares; 2025Q3: 4,840 shares; 2025Q4: 4,924 shares 4,924$1.46M0.74%+84Timeline
SLVISHARES SILVER TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,473 shares; 2024Q4: 23,473 shares; 2025Q1: 23,473 shares; 2025Q2: 20,120 shares; 2025Q3: 21,281 shares; 2025Q4: 20,120 shares 20,120$1.3M0.66%-1,161Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,181 shares; 2024Q4: 17,108 shares; 2025Q1: 17,110 shares; 2025Q2: 17,663 shares; 2025Q3: 18,194 shares; 2025Q4: 17,931 shares 17,931$1.25M0.64%-263Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,578 shares; 2024Q4: 3,563 shares; 2025Q1: 3,538 shares; 2025Q2: 5,438 shares; 2025Q3: 5,585 shares; 2025Q4: 5,568 shares 5,568$1.15M0.59%-17Timeline
INVESCO QQQ TRINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,726 shares; 2024Q4: 1,814 shares; 2025Q1: 1,781 shares; 2025Q2: 1,724 shares; 2025Q3: 1,790 shares; 2025Q4: 1,827 shares 1,827$1.12M0.57%+37
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,823 shares; 2024Q4: 27,750 shares; 2025Q1: 27,356 shares; 2025Q2: 27,084 shares; 2025Q3: 27,602 shares; 2025Q4: 27,214 shares 27,214$1.11M0.57%-388Timeline
BNDVANGUARD BD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,231 shares; 2024Q4: 13,320 shares; 2025Q1: 13,285 shares; 2025Q2: 13,212 shares; 2025Q3: 14,377 shares; 2025Q4: 14,599 shares 14,599$1.08M0.55%+222Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,715 shares; 2024Q4: 2,715 shares; 2025Q1: 2,715 shares; 2025Q2: 2,748 shares; 2025Q3: 2,848 shares; 2025Q4: 2,715 shares 2,715$1.08M0.55%-133Timeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,692 shares; 2024Q4: 3,692 shares; 2025Q1: 3,694 shares; 2025Q2: 9,494 shares; 2025Q3: 9,949 shares; 2025Q4: 9,751 shares 9,751$1.03M0.52%-198Timeline
STNSTANTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,458 shares; 2024Q4: 10,458 shares; 2025Q1: 10,458 shares; 2025Q2: 10,458 shares; 2025Q3: 10,458 shares; 2025Q4: 10,458 shares 10,458$987K0.5%0Timeline
VNQVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,261 shares; 2024Q4: 11,093 shares; 2025Q1: 10,709 shares; 2025Q2: 10,780 shares; 2025Q3: 10,333 shares; 2025Q4: 10,292 shares 10,292$911K0.46%-41Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,624 shares; 2024Q4: 2,586 shares; 2025Q1: 2,567 shares; 2025Q2: 2,622 shares; 2025Q3: 2,687 shares; 2025Q4: 2,688 shares 2,688$880K0.45%+1Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,729 shares; 2024Q4: 1,729 shares; 2025Q1: 1,670 shares; 2025Q2: 1,803 shares; 2025Q3: 1,699 shares; 2025Q4: 1,739 shares 1,739$841K0.43%+40Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,226 shares; 2024Q4: 5,170 shares; 2025Q1: 5,170 shares; 2025Q2: 5,322 shares; 2025Q3: 5,356 shares; 2025Q4: 5,404 shares 5,404$824K0.42%+48Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,396 shares; 2024Q4: 2,396 shares; 2025Q1: 2,387 shares; 2025Q2: 2,328 shares; 2025Q3: 2,328 shares; 2025Q4: 2,357 shares 2,357$759K0.39%+29Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 856 shares; 2024Q4: 882 shares; 2025Q1: 908 shares; 2025Q2: 931 shares; 2025Q3: 950 shares; 2025Q4: 1,100 shares 1,100$753K0.38%+150Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,031 shares; 2024Q4: 6,033 shares; 2025Q1: 6,014 shares; 2025Q2: 6,016 shares; 2025Q3: 5,978 shares; 2025Q4: 6,062 shares 6,062$729K0.37%+84Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,739 shares; 2025Q3: 1,821 shares; 2025Q4: 1,804 shares 1,804$596K0.3%-17Timeline
XLRESELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,803 shares; 2024Q4: 36,621 shares; 2025Q1: 44,237 shares; 2025Q2: 9,311 shares; 2025Q3: 12,216 shares; 2025Q4: 13,357 shares 13,357$539K0.27%+1,141Timeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,045 shares; 2024Q4: 8,816 shares; 2025Q1: 8,661 shares; 2025Q2: 3,014 shares; 2025Q3: 3,014 shares; 2025Q4: 3,014 shares 3,014$483K0.25%0Timeline
CATCATERPILLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 732 shares; 2024Q4: 732 shares; 2025Q1: 732 shares; 2025Q2: 732 shares; 2025Q3: 732 shares; 2025Q4: 732 shares 732$419K0.21%0Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,595 shares; 2025Q3: 6,834 shares; 2025Q4: 6,476 shares 6,476$413K0.21%-358Timeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,846 shares; 2024Q4: 1,849 shares; 2025Q1: 1,851 shares; 2025Q2: 1,791 shares; 2025Q3: 1,794 shares; 2025Q4: 1,796 shares 1,796$333K0.17%+2Timeline
MGKVANGUARD WORLD FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,438 shares; 2024Q4: 126,385 shares; 2025Q1: not reported; 2025Q2: 792 shares; 2025Q3: 792 shares; 2025Q4: 792 shares 792$327K0.17%0Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,391 shares; 2024Q4: 1,392 shares; 2025Q1: not reported; 2025Q2: 1,553 shares; 2025Q3: 1,554 shares; 2025Q4: 1,596 shares 1,596$311K0.16%+42Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 503 shares; 2024Q4: 503 shares; 2025Q1: 503 shares; 2025Q2: 503 shares; 2025Q3: 446 shares; 2025Q4: 446 shares 446$304K0.16%0Timeline
MOATVANECK ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,880 shares; 2024Q4: 2,820 shares; 2025Q1: 2,820 shares; 2025Q2: 2,820 shares; 2025Q3: 2,820 shares; 2025Q4: 2,820 shares 2,820$292K0.15%0Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 930 shares; 2024Q4: 930 shares; 2025Q1: not reported; 2025Q2: 1,090 shares; 2025Q3: 1,072 shares; 2025Q4: 1,072 shares 1,072$291K0.15%0Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,053 shares; 2024Q4: 1,053 shares; 2025Q1: 1,054 shares; 2025Q2: 744 shares; 2025Q3: 744 shares; 2025Q4: 763 shares 763$262K0.13%+19Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,374 shares; 2025Q1: not reported; 2025Q2: 2,340 shares; 2025Q3: 2,340 shares; 2025Q4: 2,340 shares 2,340$261K0.13%0Timeline
GSGOLDMAN SACHS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 848 shares; 2024Q4: 704 shares; 2025Q1: 688 shares; 2025Q2: 294 shares; 2025Q3: 294 shares; 2025Q4: 294 shares 294$258K0.13%0Timeline
ABBVABBVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 879 shares; 2025Q4: 889 shares 889$203K0.1%+10Timeline
GBCIGLACIER BANCORP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,032 shares; 2024Q4: 5,256 shares; 2025Q1: not reported; 2025Q2: 5,048 shares; 2025Q3: 5,059 shares; 2025Q4: 4,590 shares 4,590$202K0.1%-469Timeline
GUTGABELLI UTIL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,710 shares; 2024Q4: 24,710 shares; 2025Q1: 24,710 shares; 2025Q2: 27,437 shares; 2025Q3: 27,437 shares; 2025Q4: 27,437 shares 27,437$165K0.08%0Timeline
TUTELUS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,998 shares; 2024Q4: 23,998 shares; 2025Q1: 11,999 shares; 2025Q2: 11,999 shares; 2025Q3: 11,999 shares; 2025Q4: 11,999 shares 11,999$158K0.08%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
NAKNORTHERN DYNASTY MINERALS LT10,000$11.7Kshares

How Q4 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 0001656150-26-000001 base2026-02-13acceptance time not in the bulk data set