Piedmont Capital Management, LLC

Q3 2025 13F-HR Holdings

Location
Whitefish, MT
Holdings as of
9/30/2025
Date filed
11/7/2025
Form type
13F-HR
Num holdings
53
Total value ($000)
$189,530
Net value change ($000)
+16,642 (9.6%)
New positions
2
Sold out positions
4
Turnover %
24.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VUG 23,293 NEW
GDX 3,815 46.0%
FEZ 2,733 13.4%
GLDM 2,603 16.8%
VOO 1,573 13.1%
IEFA 1,037 7.0%
VYM 681 3.0%
FLOT 378 4.4%
SLV 258 39.1%
VTI 237 7.7%
Top Reduces (Value $000, Stocks/ETFs)
SPHQ -20,183 -100.0%
ARGT -1,703 -100.0%
IWP -276 -3.3%
PG -210 -100.0%
DOW -205 -100.0%
KO -44 -3.5%
IBM -36 -2.6%
MSFT -19 -2.1%
VNQ -15 -1.6%
SPY -14 -4.5%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type