UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Quarter Ended: June 30, 2000
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: ) 3700 Buffalo Speedway
Suite 520
Houston, Texas 77098
13F File Number: 028-05713
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 the
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 August 14, 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: 52
Form 13F Information Table Value Total: $199,513,800.00
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
June 30, 2000
Title of VALUE SHARES/ SH/ PUT/ INVEST OTHER VOTING AUTHORITY
Security Class CUSIP (000) PRN AMT PRN CALL DISCRE MANAGS SOLE SHARED NONE
Abbott Laboratories COM 002824100 $2,384.14 53501 SH SOLE None 53501
ADC Telecommunicat COM 000886101 $7,183.89 85650 SH SOLE None 85650
AES Corp. COM 00130H105 $6,762.99 148230 SH SOLE None 148230
AFLAC COM 001055102 $4,743.28 103255 SH SOLE None 103255
American Power Conve COM 029066107 $7,785.159 190754 SH SOLE None 190754
Autodesk, Inc. COM 052769106 $5,060.39 145885 SH SOLE None 145885
BISYS Group COM 055472104 $4,079.91 66340 SH SOLE None 66340
BMC Software Inc. COM 055921100 $4,431.58 121465 SH SOLE None 121465
Boston Scientific COM 101137107 $3,654.57 166590 SH SOLE None 166590
Cardinal Health Ind COM 14149Y108 $9,648.12 130380 SH SOLE None 130380
Carlisle Companies COM 142339100 $2,289.60 50880 SH SOLE None 50880
Citadel Communicati COM 172853202 $ 318.14 9106 SH SOLE None 9106
Citigroup, Inc. COM 172967101 $ 216.90 3600 SH SOLE None 3600
Concord EFS Inc. COM 206187105 $6,228.95 239575 SH SOLE None 239575
Dell Computer COM 247025109 $1,119.39 22700 SH SOLE None 22700
Elan Corp. ADR ADR 284131208 $8,094.58 167114 SH SOLE None 167114
Express Scripts Inc COM 302101100 $4,880.85 78565 SH SOLE None 78565
Exxon Mobil Corporat COM 302290101 $1,607.02 20599 SH SOLE None 20599
Family Dollar Stores COM 307000109 $5,313.66 271625 SH SOLE None 271625
Genzyme General COM 372917104 $6,498.00 109325 SH SOLE None 109325
Harman International COM 413086109 $ 253.15 4150 SH SOLE None 4150
HCC Insurance Holdgs COM 404132102 $ 377.50 20000 SH SOLE None 20000
Household Internat`l COM 441815107 $1,456.35 35040 SH SOLE None 35040
Informix Corporation COM 456779107 $3,476.83 466800 SH SOLE None 466800
Jabil Circuit Inc. COM 466313103 $7,720.41 155575 SH SOLE None 155575
Lowes Companies COM 548661107 $1,481.95 36090 SH SOLE None 36090
Manor Care Inc. COM 404134108 $ 886.97 126710 SH SOLE None 126710
Masco COM 574599106 $3,796.11 210165 SH SOLE None 210165
MasTec Inc. COM 576323109 $4,016.85 105187 SH SOLE None 105187
MedQuist Inc. COM 584949101 $1,412.60 41547 SH SOLE None 41547
MicroChip Technology COM 595017104 $5,964.01 102359 SH SOLE None 102359
NCR Corp. COM 62886E108 $3,019.21 77540 SH SOLE None 77540
Nokia, Inc. ADR 654902204 $1,505.62 30150 SH SOLE None 30150
Nortel Networks Corp. COM 665815106 $1,824.32 26730 SH SOLE None 26730
Protective Life Corp COM 743674103 $3,951.82 148425 SH SOLE None 148425
Providian Financial COM 74406A102 $5,459.40 60660 SH SOLE None 60660
Rouse Company COM 779273101 $ 652.53 26365 SH SOLE None 26365
Rowan Companies COM 779382100 $7,097.42 233660 SH SOLE None 233660
Schering-Plough Corp COM 806605101 $1,890.50 37495 SH SOLE None 37495
Solectron Corp. Del. COM 834182107 $1,650.71 39420 SH SOLE None 39420
SouthTrust Corp. COM 844730101 $3,279.49 144950 SH SOLE None 144950
Southwest Airlines, COM 844741108 $4,794.15 253156 SH SOLE None 253156
SunGard Data Systems COM 867363103 $4,541.50 146500 SH SOLE None 146500
Swift Transportation COM 870756103 $1,609.30 114950 SH SOLE None 114950
Tech Data Corp. COM 878237106 $3,823.05 87760 SH SOLE None 87760
Tellabs Inc. COM 879664100 $ 232.69 3400 SH SOLE None 3400
Teva Pharmaceutical ADR 881624209 $8,722.81 157345 SH SOLE None 157345
Transocean SEDCO ForexCOM 839817106 $7,001.11 131015 SH SOLE None 131015
Visx Inc. ADR 92844S105 $1,407.33 50150 SH SOLE None 50150
Watson Pharmaceutical COM 942683103 $7,578.48 140995 SH SOLE None 140995
Williams-Sonoma COM 969904101 $3,895.46 125660 SH SOLE None 125660
Worldcom Inc. GA-New COM 55268B106 $1,881.88 41022 SH SOLE None 41022
TOTAL PORTFOLIO $199,513.80
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