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PCMM
Piedmont Capital Management (Montana) Portfolio holdings
AUM
$198M
1-Year Est. Return
32.35%
This Fund
S&P 500
This Quarter
Est. Return
+7.15%
1 Year Est. Return
+32.35%
3 Year Est. Return
+94%
5 Year Est. Return
+123.66%
10 Year Est. Return
–
AUM
$173M
AUM Growth
+$33.6M
(+24%)
Cap. Flow
+$14.3M
Cap. Flow
% of AUM
8.25%
Top 10 Holdings %
Top 10 Hldgs %
78.07%
Holding
56
New
10
Increased
21
Reduced
18
Closed
1
Avg Time Held
9.2
quarters
Top 10 Avg Time Held
5.3
quarters
Top 20 Avg Time Held
6.5
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR EURO STOXX 50 ETF
FEZ
|
+$19.6M |
| 2 |
Invesco S&P 500 Quality ETF
SPHQ
|
+$19.2M |
| 3 |
Vanguard S&P 500 ETF
VOO
|
+$11.1M |
| 4 |
UnitedHealth
UNH
|
+$665K |
| 5 |
Merck
MRK
|
+$461K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HDV
iShares Core High Dividend ETF
HDV
|
+$36.1M |
| 2 |
State Street Real Estate Select Sector SPDR ETF
XLRE
|
+$1.43M |
| 3 |
3M
MMM
|
+$807K |
| 4 |
Dow Inc
DOW
|
+$412K |
| 5 |
Goldman Sachs
GS
|
+$228K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 90.78% |
| 2 | Technology | 2.54% |
| 3 | Healthcare | 1.65% |
| 4 | Industrials | 1.09% |
| 5 | Consumer Staples | 0.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Vanguard High Dividend Yield ETF
VYM
$79.4B
| $22.5M | 13.04% |
169,103
+1,099
| +0.7% | +$139K |
2020 Q4
18 quarters
|
|
|
2
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.24B
| $20.5M | 11.83% |
+342,504
| New | +$19.6M |
2025 Q2
0 quarters
|
|
|
3
Invesco S&P 500 Quality ETF
SPHQ
$18.8B
| $20.2M | 11.67% |
+283,226
| New | +$19.2M |
2025 Q2
0 quarters
|
|
4
SPDR Gold MiniShares Trust
GLDM
$30.6B
| $15.5M | 8.97% |
236,683
+1,061
| +0.5% | +$69K |
2022 Q4
10 quarters
|
|
5
iShares Core MSCI EAFE ETF
IEFA
$191B
| $14.7M | 8.53% |
176,647
-499
| -0.3% | -$39.6K |
2025 Q1
1 quarter
|
|
|
6
Vanguard S&P 500 ETF
VOO
$1.05T
| $12M | 6.93% |
+21,103
| New | +$11.1M |
2025 Q2
0 quarters
|
|
7
iShares Floating Rate Bond ETF
FLOT
$11.1B
| $8.62M | 4.98% |
168,878
+3,959
| +2% | +$201K |
2021 Q3
15 quarters
|
|
8
iShares Russell Mid-Cap Growth ETF
IWP
$19.8B
| $8.47M | 4.9% |
61,082
-992
| -2% | -$125K |
2024 Q4
2 quarters
|
|
9
VanEck Gold Miners ETF
GDX
$26.3B
| $8.29M | 4.8% |
159,335
-1,329
| -0.8% | -$66K |
2025 Q1
1 quarter
|
|
10
Invesco Senior Loan ETF
BKLN
$6.66B
| $4.17M | 2.41% |
199,331
+8,637
| +5% | +$179K |
2023 Q1
9 quarters
|
|
11
Vanguard Morningstar Total Stock Market ETF
VTI
$690B
| $3.07M | 1.77% |
10,093
-6
| -0.1% | -$1.69K |
2020 Q4
18 quarters
|
|
12
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.06B
| $2.79M | 1.61% |
95,164
+3,601
| +4% | +$102K |
2020 Q4
18 quarters
|
|
13
VanEck CLO ETF
CLOI
$1.63B
| $2.48M | 1.43% |
46,792
+2,188
| +5% | +$115K |
2024 Q3
3 quarters
|
|
14
Global X MSCI Argentina ETF
ARGT
$687M
| $1.7M | 0.99% |
20,102
+2,084
| +12% | +$180K |
2025 Q1
1 quarter
|
|
15
Cisco
CSCO
$442B
| $1.53M | 0.89% |
22,068
-324
| -1% | -$19.9K |
2020 Q4
18 quarters
|
|
16
iShares Core 60/40 Balanced Allocation ETF
AOR
$3.85B
| $1.43M | 0.83% |
23,190
+142
| +0.6% | +$8.29K |
2023 Q2
8 quarters
|
|
17
Vanguard Dividend Appreciation ETF
VIG
$110B
| $1.42M | 0.82% |
6,950
+118
| +2% | +$22.9K |
2020 Q4
18 quarters
|
|
18
IBM
IBM
$210B
| $1.4M | 0.81% |
4,758
-607
| -11% | -$156K |
2020 Q4
18 quarters
|
|
19
Coca-Cola
KO
$369B
| $1.25M | 0.72% |
17,663
+553
| +3% | +$39.4K |
2020 Q4
18 quarters
|
|
20
Verizon
VZ
$191B
| $1.17M | 0.68% |
27,084
-272
| -1% | -$11.8K |
2020 Q4
18 quarters
|
|
21
Stantec
STN
$7.58B
| $1.14M | 0.66% |
10,458
| – | – |
2024 Q3
3 quarters
|
|
22
Vanguard Total Bond Market
BND
$158B
| $973K | 0.56% |
13,212
-73
| -0.5% | -$5.31K |
2020 Q4
18 quarters
|
|
23
Vanguard Real Estate ETF
VNQ
$35.4B
| $960K | 0.56% |
10,780
+71
| +0.7% | +$6.26K |
2020 Q4
18 quarters
|
|
24
Microsoft
MSFT
$3.84T
| $897K | 0.52% |
1,803
+133
| +8% | +$57.8K |
2022 Q1
13 quarters
|
|
25
SPDR Gold Trust
GLD
$141B
| $838K | 0.48% |
2,748
+33
| +1% | +$9.99K |
2021 Q4
14 quarters
|
|
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Piedmont Capital Management (Montana)'s Q2 2025 Portfolio in Review
As of Q2 2025, Piedmont Capital Management (Montana) held 56 positions worth $173M, up 24% from $139M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Piedmont Capital Management (Montana) deployed $14.3M of net new capital in Q2 2025, opening 10 new positions and adding to 21 existing holdings. Its largest new stake was State Street SPDR EURO STOXX 50 ETF: 342,504 shares worth $20.5M.
By sector, the portfolio is most concentrated in Miscellaneous at 91% of assets, down from 91% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was State Street Real Estate Select Sector SPDR ETF, an estimated $1.43M trimmed.
- Piedmont Capital Management (Montana)'s largest Q2 2025 buy was State Street SPDR EURO STOXX 50 ETF: 342,504 shares worth $20.5M.
- Piedmont Capital Management (Montana) added most to Merck in Q2 2025, an estimated $461K increase.
- Piedmont Capital Management (Montana)'s biggest Q2 2025 reduction was State Street Real Estate Select Sector SPDR ETF, cutting an estimated $1.43M.
- Piedmont Capital Management (Montana) fully exited iShares Core High Dividend ETF in Q2 2025, selling an estimated $36.1M.
- Piedmont Capital Management (Montana)'s ten largest holdings make up 78% of its $173M portfolio in Q2 2025.
- Piedmont Capital Management (Montana) opened 10 new positions and closed 1 in Q2 2025.
- Piedmont Capital Management (Montana)'s portfolio value rose 24% quarter-over-quarter to $173M.
Based on Piedmont Capital Management (Montana)'s 13F filing for Q2 2025, filed 13 Aug 2025.