Piedmont Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Piedmont Capital Management, LLC reported 50 stock positions worth $196.6 million. Its top holding was Vanguard High DVD Yield ETF (VYM) at 12.4% of the portfolio, followed by State Street SPDR Euro Stoxx (FEZ, 12.2%) and Putnam Focused LRG Cap Value (PVAL, 11.6%). Compared with Q4 2025, it opened 5 new positions, sold out of 7, added to 22 and reduced 13. The biggest buy was a new position in Putnam Focused LRG Cap Value (PVAL) and the biggest sale an exit from Vanguard Mrngstar GR ETF-Sui (VUG).
- Most Recent 13F
- Q2 2026
- Location
- WHITEFISH, MT
- CIK
- 0001656150
- Portfolio Value
- $196.6M (Q1 2026)
- SEC Filing
- 0001656150-26-000002 ↗ filed May 15, 2026
Holdings Value
Holdings 50 stocks · $196.6M
| VYM Vanguard High DVD Yield ETF | 12.36% | 163,823 | $24.3M | Reduce -0.3% |
| FEZ State Street SPDR Euro Stoxx | 12.23% | 382,422 | $24.0M | Add +2.5% |
| PVAL Putnam Focused LRG Cap Value | 11.59% | 486,775 | $22.8M | New |
| GLDM SPDR Gold Minishares Trust | 10.44% | 222,303 | $20.5M | Reduce -2.6% |
| IEFA iShares Core MSCI Eafe ETF | 8.42% | 180,252 | $16.6M | Add +0.4% |
| GDX Vaneck Gold Miners ETF | 7.09% | 147,996 | $13.9M | Reduce -3.8% |
| RWR SS SPDR Dow Jones REIT ETF | 6.90% | 132,183 | $13.6M | New |
| FLOT iShares Floating Rate Bond E | 5.08% | 196,584 | $10.0M | Add +7.7% |
| BKLN Invesco Senior Loan ETF | 2.42% | 232,234 | $4.8M | Add +3.4% |
| FRDM Freedom 100 Emeging MRKT ETF | 2.04% | 72,198 | $4.0M | New |
| IWC iShares Micro-Cap ETF | 1.99% | 23,888 | $3.9M | New |
| VTI VG Morningstar TS MKT ETF-US | 1.70% | 10,270 | $3.3M | Add +1.0% |
| ANGL Vaneck Fallen Angel High YLD | 1.67% | 113,524 | $3.3M | Add +4.6% |
| CLOI Vaneck Clo ETF | 1.50% | 55,966 | $2.9M | Add +4.1% |
| ISHARES TR | 1.42% | 46,360 | $2.8M | Reduce -2.1% |
| CSCO Cisco Systems Inc. | 0.85% | 21,051 | $1.7M | Reduce -4.8% |
| VIG Vanguard Dividend Apprec ETF | 0.83% | 7,581 | $1.6M | Add +0.9% |
| KO The Coca-Cola Co. | 0.70% | 17,753 | $1.4M | Reduce -1.0% |
| VZ Verizon Communications Inc. | 0.70% | 27,763 | $1.4M | Add +2.0% |
| JNJ Johnson & Johnson | 0.69% | 5,579 | $1.4M | Add +0.2% |
| AOR iShares Core 60/40 Balanced | 0.67% | 20,278 | $1.3M | Reduce -13.4% |
| MRK Merck & Co. Inc. | 0.62% | 10,164 | $1.2M | Add +4.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.59% | 4,719 | $1.2M | Reduce -4.2% |
| CVX Chevron Corp. | 0.58% | 5,725 | $1.1M | Add +5.9% |
| INVESCO QQQ TR | 0.55% | 1,840 | $1.1M | Add +0.7% |
| BND Vanguard Total Bond Market | 0.55% | 14,669 | $1.1M | Add +0.5% |
| XOM Exxon Mobil Corp. | 0.49% | 5,987 | $970K | Reduce -1.2% |
| VNQ Vanguard Real Estate ETF | 0.47% | 10,244 | $927K | Reduce -0.5% |
| AMGN Amgen Inc. | 0.47% | 2,687 | $923K | Reduce -0.0% |
| STN Stantec Inc. | 0.47% | 10,458 | $920K | No change |
| IVV iShares Core S&P 500 ETF | 0.41% | 1,231 | $814K | Add +11.9% |
| JPM JPMorgan Chase & Co. | 0.36% | 2,357 | $698K | No change |
| MSFT Microsoft Corp. | 0.34% | 1,806 | $672K | Add +3.9% |
| AAPL Apple Inc. | 0.30% | 2,273 | $589K | Add +112.0% |
| CAT Caterpillar Inc. | 0.27% | 732 | $524K | No change |
| UNH Unitedhealth Group Inc. | 0.26% | 1,846 | $520K | Add +2.3% |
| MMM 3M Co. | 0.22% | 3,014 | $437K | No change |
| SPG Simon Property Group Inc. | 0.17% | 1,799 | $341K | Add +0.2% |
| NKE Nike Inc. Class B | 0.15% | 6,802 | $300K | Add +5.0% |
| WMT Walmart Inc. | 0.15% | 2,340 | $296K | No change |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.15% | 792 | $295K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 446 | $293K | No change |
| HD Home Depot Inc. | 0.15% | 898 | $292K | Add +17.7% |
| IWP iShares Russell Mid-Cap Grow | 0.15% | 2,229 | $289K | Reduce -96.1% |
| MOAT Vaneck Morningstar Wide Moat | 0.14% | 2,820 | $273K | No change |
| GS Goldman Sachs Group Inc. | 0.13% | 294 | $255K | No change |
| PG The Procter & Gamble Co. | 0.13% | 1,783 | $254K | New |
| ORCL Oracle Corp. | 0.12% | 1,597 | $231K | Add +0.1% |
| GBCI Glacier Bancorp Inc. | 0.11% | 4,590 | $211K | No change |
| GUT Gabelli Utility Trust | 0.08% | 24,977 | $150K | Reduce -9.0% |
Portfolio Sells Q4 2025 → Q1 2026
| VUG Vanguard Mrngstar GR ETF-Sui | Sold out | 0.00% | −12.11 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −7.11 |
| IWP iShares Russell Mid-Cap Grow | Reduce -96.1% | 0.15% | −3.88 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.66 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −0.55 |
| XLRE SS Real Estate Select Sector | Sold out | 0.00% | −0.28 |
| IBM Intl Business Machines Corp. | Reduce -4.2% | 0.59% | −0.15 |
| AOR iShares Core 60/40 Balanced | Reduce -13.4% | 0.67% | −0.11 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.10 |
| TU Telus Corp. | Sold out | 0.00% | −0.08 |
| CSCO Cisco Systems Inc. | Reduce -4.8% | 0.85% | −0.02 |
| GUT Gabelli Utility Trust | Reduce -9.0% | 0.08% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -0.5% | 0.47% | +0.01 |
| AMGN Amgen Inc. | Reduce -0.0% | 0.47% | +0.02 |
| ISHARES TR | Reduce -2.1% | 1.42% | +0.04 |
| KO The Coca-Cola Co. | Reduce -1.0% | 0.70% | +0.06 |
| XOM Exxon Mobil Corp. | Reduce -1.2% | 0.49% | +0.12 |
| VYM Vanguard High DVD Yield ETF | Reduce -0.3% | 12.36% | +0.33 |
| GDX Vaneck Gold Miners ETF | Reduce -3.8% | 7.09% | +0.36 |
| GLDM SPDR Gold Minishares Trust | Reduce -2.6% | 10.44% | +0.50 |
Portfolio Buys Q4 2025 → Q1 2026
| PVAL Putnam Focused LRG Cap Value | New | 11.59% | +11.59 |
| RWR SS SPDR Dow Jones REIT ETF | New | 6.90% | +6.90 |
| FRDM Freedom 100 Emeging MRKT ETF | New | 2.04% | +2.04 |
| IWC iShares Micro-Cap ETF | New | 1.99% | +1.99 |
| FLOT iShares Floating Rate Bond E | Add +7.7% | 5.08% | +0.34 |
| IEFA iShares Core MSCI Eafe ETF | Add +0.4% | 8.42% | +0.23 |
| CVX Chevron Corp. | Add +5.9% | 0.58% | +0.16 |
| AAPL Apple Inc. | Add +112.0% | 0.30% | +0.15 |
| VZ Verizon Communications Inc. | Add +2.0% | 0.70% | +0.13 |
| PG The Procter & Gamble Co. | New | 0.13% | +0.13 |
| MRK Merck & Co. Inc. | Add +4.2% | 0.62% | +0.10 |
| JNJ Johnson & Johnson | Add +0.2% | 0.69% | +0.10 |
| CLOI Vaneck Clo ETF | Add +4.1% | 1.50% | +0.05 |
| ANGL Vaneck Fallen Angel High YLD | Add +4.6% | 1.67% | +0.04 |
| IVV iShares Core S&P 500 ETF | Add +11.9% | 0.41% | +0.03 |
| HD Home Depot Inc. | Add +17.7% | 0.15% | +0.01 |
| BKLN Invesco Senior Loan ETF | Add +3.4% | 2.42% | +0.01 |
| SPG Simon Property Group Inc. | Add +0.2% | 0.17% | +0.00 |
| BND Vanguard Total Bond Market | Add +0.5% | 0.55% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.9% | 0.83% | −0.01 |
| INVESCO QQQ TR | Add +0.7% | 0.55% | −0.02 |
| FEZ State Street SPDR Euro Stoxx | Add +2.5% | 12.23% | −0.02 |
| UNH Unitedhealth Group Inc. | Add +2.3% | 0.26% | −0.04 |
| ORCL Oracle Corp. | Add +0.1% | 0.12% | −0.04 |
| VTI VG Morningstar TS MKT ETF-US | Add +1.0% | 1.70% | −0.04 |
| NKE Nike Inc. Class B | Add +5.0% | 0.15% | −0.06 |
| MSFT Microsoft Corp. | Add +3.9% | 0.34% | −0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 58 | $198.0M | MGC, VYM, VOO, FEZ, IEFA |
| Q1 2026 | 50 | $196.6M | VYM, FEZ, PVAL, GLDM, IEFA |
| Q4 2025 | 52 | $196.0M | FEZ, VUG, VYM, GLDM, IEFA |
| Q3 2025 | 53 | $189.5M | VUG, VYM, FEZ, GLDM, IEFA |
| Q2 2025 | 55 | $172.9M | VYM, FEZ, SPHQ, GLDM, IEFA |
| Q1 2025 | 46 | $139.3M | HDV, VYM, GLDM, IEFA, FLOT |
| Q4 2024 | 52 | $165.9M | MGK, VYM, VOO, GLDM, RWR |
| Q3 2024 | 51 | $165.9M | MGK, VYM, VOO, GLDM, RWR |
| Q2 2024 | 46 | $147.4M | MGK, VYM, VOO, IEFA, SMH |
| Q1 2024 | 46 | $147.4M | MGK, VYM, VOO, IEFA, SMH |