UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment : [ ] is a restatement
(Check only one.) [ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Piedra Capital, Ltd.
Address: (NEW) 3700 Buffalo Speedway
Suite 520
Houston, Texas 77098
13F File Number: TO BE ASSIGNED
The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing this
report is authorized to submit it, that all information contained herein
is true, correct and complete, and that it is understood that all
required items, statements, schedules, lists, and tables, are considered
integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: S. Peter Hidalgo, II
Title: Principal
Phone: 713-622-7625
Signature, Place and Date of Signing:
S. PETER HIDALGO, II HOUSTON, TEXAS MAY 10, 2000
Report Type (Check only one):
[ XX ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other managers Reporting for this Manger: 0
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 70
Form 13F Information Table Value Total: $229,365,540.00
List of Other Managers:
No. 13F File Number Name
NONE
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FORM 13F HOLDINGS REPORT
PIEDRA CAPITAL, LTD.
All Equity Holdings =>$200,000
December 31, 1999
Title of VALUE SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
Security Class CUSIP (000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
3 Com Corp COM 885535104 $ 347.80 7400 SH SOLE None 7400
Abbott Laboratories, COM 002824100 $1,646.33 45337 SH SOLE None 45337
ADC Telecommunicatio COM 000886101 $6,335.43 87310 SH SOLE None 87310
AES Corp. COM 00130H105 $7,399.13 98985 SH SOLE None 98985
American Power Conve COM 029066107 $7,619.84 288904 SH SOLE None 288904
Applied Power Class COM 038225108 $6,563.55 178600 SH SOLE None 178600
AptarGroup Inc. COM 038336103 $ 273.86 10900 SH SOLE None 10900
Artesyn Technologies COM 043127109 $1,470.00 70000 SH SOLE None 70000
Autodesk, Inc. COM 052769106 $7,798.78 231075 SH SOLE None 231075
AutoZone Inc. COM 053332102 $2,261.70 70000 SH SOLE None 70000
Bell Atlantic Corp COM 077853109 $ 289.34 4700 SH SOLE None 4700
BMC Software Inc. COM 055921100 $8,739.17 109325 SH SOLE None 109325
C Cube Microsystems COM 125015107 $8,403.44 134995 SH SOLE None 134995
Canandaigua Brands C COM 137219200 $ 216.75 4250 SH SOLE None 4250
Cardinal Health Ind COM 14149Y108 $5,362.00 112000 SH SOLE None 112000
Carlisle Companies I COM 142339100 $3,582.09 99503 SH SOLE None 99503
Citigroup Inc. COM 172967101 $ 318.14 5713 SH SOLE None 5713
Computer Sciences Co COM 205363104 $ 643.48 6800 SH SOLE None 6800
Compuware Corp COM 205638109 $4,730.75 127000 SH SOLE None 127000
Concord EFS Incorpor COM 206187105 $5,323.43 206735 SH SOLE None 206735
Conseco Inc COM 208464107 $1,081.07 60700 SH SOLE None 60700
Covance Inc. COM 222161100 $ 432.40 40000 SH SOLE None 40000
Dell Computer COM 247025109 $1,157.70 22700 SH SOLE None 22700
ECI Telecom Ltd. COM 268258100 $3,986.33 126050 SH SOLE None 126050
Elan Corp. ADR ADR 284131208 $6,714.17 227599 SH SOLE None 227599
EMC Corporation COM 268648102 $ 250.73 2295 SH SOLE None 2295
Equitable Resources, COM 294549100 $ 393.83 11800 SH SOLE None 11800
Exxon Mobil Corporat COM 302290101 $1,649.44 20474 SH SOLE None 20474
Family Dollar Stores COM 307000109 $5,028.17 308240 SH SOLE None 308240
FINOVA Group COM 317928109 $2,081.01 58620 SH SOLE None 58620
Genzyme General COM 372917104 $7,164.90 159220 SH SOLE None 159220
Harman International COM 413086109 $ 333.94 5950 SH SOLE None 5950
Hibernia Corp. Class COM 428656102 $ 215.16 20250 SH SOLE None 20250
IBP Incorporated COM 449223106 $ 208.98 11610 SH SOLE None 11610
Illinois Tool Works COM 452308109 $ 267.01 3952 SH SOLE None 3952
Jabil Circuit Incorp COM 466313103 $6,517.81 89285 SH SOLE None 89285
Lafarge Corp. COM 505862102 $ 255.53 9250 SH SOLE None 9250
Manor Care Inc. COM 404134108 $4,800.32 300020 SH SOLE None 300020
MasTec Inc. COM 576323109 $4,249.75 95500 SH SOLE None 95500
Metamore Worldwide COM 59133P100 $4,567.82 156835 SH SOLE None 156835
MicroChip Technology COM 595017104 $6,970.36 101850 SH SOLE None 101850
Nokia, Inc. ADR 654902204 $2,404.33 12584 SH SOLE None 12584
Nortel Networks Corp COM 665815106 $2,986.57 29570 SH SOLE None 29570
Protective Life Corp COM 743674103 $5,110.52 160645 SH SOLE None 160645
QUALCOMM Inc. COM 747525103 $ 598.83 3400 SH SOLE None 3400
Rogers Communication COM 775109200 $4,957.43 200300 SH SOLE None 200300
Rouse Company COM 779273101 $ 677.13 31865 SH SOLE None 31865
Rowan Companies COM 779382100 $7,275.07 335450 SH SOLE None 335450
Schering-Plough Corp COM 806605101 $1,308.12 30870 SH SOLE None 30870
Sensormatic Electron COM 817265101 $ 517.72 29690 SH SOLE None 29690
Solectron Corp. Del. COM 834182107 $1,914.87 20130 SH SOLE None 20130
SouthTrust Corp. COM 844730101 $5,439.52 143855 SH SOLE None 143855
Southwest Airlines, COM 844741108 $5,431.30 336824 SH SOLE None 336824
Sterling Commerce COM 859205106 $7,125.21 209565 SH SOLE None 209565
SunGard Data Systems COM 867363103 $4,210.88 177300 SH SOLE None 177300
Suntrust Banks COM 867914103 $ 220.20 3200 SH SOLE None 3200
Swift Transportation COM 870756103 $1,639.59 93000 SH SOLE None 93000
Sylvan Learning Syst COM 871399101 $1,130.87 86990 SH SOLE None 86990
Tecumseh Products Co COM 878895200 $ 201.49 4270 SH SOLE None 4270
Tellabs Inc. COM 879664100 $ 243.91 3800 SH SOLE None 3800
Teva Pharmaceutical ADR 881624209 $8,505.36 118645 SH SOLE None 118645
Tommy Hilfiger COM G8915Z102 $4,677.81 200120 SH SOLE None 200120
Transocean SEDCO For COM 839817106 $6,391.53 189730 SH SOLE None 189730
United Auto Group COM 909440109 $ 330.69 37000 SH SOLE None 37000
Visx Inc. COM 92844S105 $6,539.13 126360 SH SOLE None 126360
Watson Pharmaceutica COM 942683103 $6,842.69 191070 SH SOLE None 191070
Weatherford Internat COM 947074100 $ 514.00 12870 SH SOLE None 12870
Wellman Inc. COM 949702104 $ 206.18 11070 SH SOLE None 11070
Williams-Sonoma COM 969904101 $4,313.19 93765 SH SOLE None 93765
TOTAL PORTFOLIO $229,365.54
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