# PIEDMONT INVESTMENT ADVISORS INC

> Institutional holdings reported to the SEC as of Q1 2020 on Form 13F. CIK 1270341. Source: https://holderbook.com/funds/1270341-piedmont-investment-advisors-inc/

- Reported value: $2.5B
- Positions: 803
- Weight of the ten largest: 30.7%
- Filed: 2020-05-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $179.4M | 1,137,309 | 7.1% | 6 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $158.1M | 621,918 | 6.2% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $121.6M | 62,382 | 4.8% | 6 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $62.8M | 376,398 | 2.5% | 6 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $60.5M | 52,033 | 2.4% | 6 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $45.7M | 283,444 | 1.8% | 6 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $43.1M | 37,028 | 1.7% | 6 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $37.3M | 485,008 | 1.5% | 6 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $36.1M | 144,826 | 1.4% | 6 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $31.9M | 131,853 | 1.3% | 6 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $30.5M | 254,198 | 1.2% | 6 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $27.5M | 700,716 | 1.1% | 6 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $26.9M | 245,000 | 1.1% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $26.3M | 200,815 | 1.0% | 6 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $23.8M | 63,445 | 0.9% | 6 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $22.6M | 418,349 | 0.9% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $21.2M | 80,505 | 0.8% | 6 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $19.6M | 570,409 | 0.8% | 6 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $19.6M | 61,593 | 0.8% | 6 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $18.5M | 242,484 | 0.7% | 6 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $17.8M | 215,646 | 0.7% | 6 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $17.8M | 368,347 | 0.7% | 6 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $17.7M | 81,408 | 0.7% | 6 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $17.6M | 86,895 | 0.7% | 6 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $16.9M | 68,788 | 0.7% | 6 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $16.1M | 68,107 | 0.6% | 6 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $16.1M | 111,673 | 0.6% | 6 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $15.1M | 92,558 | 0.6% | 6 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $14.9M | 267,629 | 0.6% | 6 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $14.3M | 126,187 | 0.6% | 6 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $14.3M | 76,643 | 0.6% | 6 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $14.0M | 659,501 | 0.6% | 6 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $13.9M | 125,515 | 0.6% | 6 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $13.8M | 289,123 | 0.5% | 6 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $13.6M | 466,796 | 0.5% | 6 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $13.5M | 413,582 | 0.5% | 6 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $13.4M | 303,551 | 0.5% | 6 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $13.4M | 47,031 | 0.5% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $13.2M | 147,115 | 0.5% | 6 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $13.0M | 161,432 | 0.5% | 6 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $12.8M | 77,206 | 0.5% | 6 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $12.6M | 90,683 | 0.5% | 6 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $12.0M | 125,489 | 0.5% | 6 |
| CHARTER COMMUNICATIONS INC | [CHTR](https://holderbook.com/stocks/CHTR/) | $12.0M | 27,525 | 0.5% | 6 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $11.6M | 147,540 | 0.5% | 6 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $11.1M | 164,406 | 0.4% | 6 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $11.1M | 168,426 | 0.4% | 6 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $11.0M | 55,352 | 0.4% | 6 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $11.0M | 122,189 | 0.4% | 6 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $10.8M | 201,177 | 0.4% | 6 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $10.6M | 78,970 | 0.4% | 6 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $10.5M | 74,338 | 0.4% | 6 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $10.5M | 70,189 | 0.4% | 6 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $10.4M | 106,965 | 0.4% | 6 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $10.2M | 74,774 | 0.4% | 6 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $10.1M | 108,654 | 0.4% | 6 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $10.0M | 100,274 | 0.4% | 6 |
| IHS MARKIT LTD | [INFO](https://holderbook.com/stocks/INFO/) | $9.9M | 164,356 | 0.4% | 6 |
| LINDE PLC | [LINXXXX](https://holderbook.com/stocks/LINXXXX/) | $9.7M | 56,308 | 0.4% | 6 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $9.5M | 30,034 | 0.4% | 6 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $9.3M | 107,837 | 0.4% | 6 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $9.1M | 137,451 | 0.4% | 6 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $9.0M | 96,133 | 0.4% | 6 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $8.9M | 26,359 | 0.4% | 6 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $8.9M | 31,390 | 0.4% | 6 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $8.5M | 118,030 | 0.3% | 6 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $8.4M | 65,592 | 0.3% | 6 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $8.2M | 109,024 | 0.3% | 6 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $8.1M | 104,692 | 0.3% | 6 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $8.0M | 58,533 | 0.3% | 6 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $8.0M | 151,067 | 0.3% | 6 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $7.9M | 133,719 | 0.3% | 6 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $7.9M | 224,749 | 0.3% | 6 |
| CBRE GROUP INC | [CBRE](https://holderbook.com/stocks/CBRE/) | $7.8M | 207,974 | 0.3% | 6 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $7.5M | 104,155 | 0.3% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $7.4M | 76,488 | 0.3% | 6 |
| RAYTHEON CO | [RTN](https://holderbook.com/stocks/RTN/) | $7.4M | 56,323 | 0.3% | 6 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $7.4M | 32,524 | 0.3% | 6 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $7.4M | 161,133 | 0.3% | 6 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $7.4M | 39,052 | 0.3% | 6 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $7.2M | 51,767 | 0.3% | 6 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $7.2M | 33,833 | 0.3% | 6 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $7.0M | 74,707 | 0.3% | 6 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $6.9M | 181,408 | 0.3% | 6 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $6.8M | 37,343 | 0.3% | 6 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $6.7M | 49,178 | 0.3% | 6 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $6.7M | 12,722 | 0.3% | 6 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $6.6M | 79,180 | 0.3% | 5 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $6.6M | 27,667 | 0.3% | 6 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $6.5M | 154,272 | 0.3% | 6 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $6.4M | 64,025 | 0.3% | 6 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $6.4M | 44,169 | 0.3% | 6 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $6.4M | 70,688 | 0.3% | 6 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $6.3M | 26,030 | 0.2% | 6 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $6.2M | 26,767 | 0.2% | 6 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $6.1M | 97,556 | 0.2% | 6 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $6.1M | 12,280 | 0.2% | 6 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $6.0M | 51,087 | 0.2% | 6 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $6.0M | 4,463 | 0.2% | 6 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $6.0M | 36,060 | 0.2% | 6 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2020 | -18.8% | -19.9% | +1.1% | 100% |
| Q4 2019 | +9.1% | +8.5% | +0.7% | 99% |
| Q3 2019 | +0.8% | +1.3% | -0.5% | 100% |
| Q2 2019 | +3.3% | +3.7% | -0.4% | 100% |
| Q1 2019 | +13.9% | +13.0% | +0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2020 | $2.5B | 803 |
| Q4 2019 | $2.9B | 912 |
| Q3 2019 | $2.6B | 897 |
| Q2 2019 | $2.5B | 930 |
| Q1 2019 | $2.5B | 1,158 |
| Q4 2018 | $2.1B | 1,037 |