Instuitional Investor - Piedmont Capital Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Index Fds - S&P 500 ETF SHS		36,924	$25,359,724	15.48%
2.	Vanguard Tax-Managed Fds		166,333	$11,851,212	7.23%
3.	Franklin Templeton Etf Tr		172,917	$10,009,289	6.11%
4.	Spdr S & P 500 Etf Trust	SPY	10,503	$7,842,991	4.79%
5.	Legg Mason Etf Invt		191,357	$7,766,209	4.74%