Maple Capital Management, Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Maple Capital Management, Inc. reported 115 stock positions worth $1.4 billion. Its top holding was Apple (AAPL) at 9.3% of the portfolio, followed by Microsoft (MSFT, 7.9%) and Nvidia (NVDA, 7.2%). Compared with Q3 2024, it opened 9 new positions, sold out of 5, added to 52 and reduced 44. The biggest buy was Amazon.com (AMZN, shares +2%) and the biggest sale Eli Lilly (LLY, shares −1%).

Most Recent 13F
Q2 2026
Location
MONTPELIER, VT
CIK
0001313893
Portfolio Value
$1.4B (Q4 2024)
SEC Filing
0001313893-25-000001 ↗ filed Feb 5, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.4B $1.4B Q4 2024 Q1 2025: $1.3B Q1 2025 Q2 2025: $1.5B Q2 2025 Q3 2025: $1.5B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $1.5B Q1 2026 Q2 2026: $1.7B Q2 2026

Holdings 115 stocks · $1.4B
AAPL Apple Inc. 9.34% 506,774 $126.9M Add +0.2%
MSFT Microsoft Corp. 7.88% 253,782 $107.0M Reduce -0.4%
NVDA Nvidia Corp. 7.17% 725,479 $97.4M Add +0.5%
AMZN Amazon.com Inc. 5.85% 362,054 $79.4M Add +1.8%
GOOG Alphabet Inc. Class C 5.62% 400,873 $76.3M Add +0.6%
META Meta Platforms Inc. Class A 4.21% 97,605 $57.1M Reduce -1.1%
COST Costco Wholesale Corp. 4.17% 61,887 $56.7M Add +0.4%
JPM JPMorgan Chase & Co. 3.52% 199,590 $47.8M Add +0.2%
TXN Texas Instruments Inc. 3.03% 219,690 $41.2M Add +2.0%
MA Mastercard Inc. Class A 3.00% 77,340 $40.7M Add +1.7%
ACN Accenture PLC Class A 2.86% 110,285 $38.8M Add +0.0%
LLY Eli Lilly & Co. 2.64% 46,394 $35.8M Reduce -0.7%
AXP American Express Co. 2.63% 120,303 $35.7M Add +0.6%
IJR iShares Core S&P Small-Cap E 2.62% 309,201 $35.6M Add +4.7%
UNH Unitedhealth Group Inc. 2.52% 67,732 $34.3M Add +1.6%
HON Honeywell International Inc. 2.50% 150,017 $33.9M Add +0.1%
MS Morgan Stanley 2.46% 265,879 $33.4M Add +0.0%
HD Home Depot Inc. 2.31% 80,495 $31.3M Add +1.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.97% 221,502 $26.8M Add +0.4%
JNJ Johnson & Johnson 1.77% 166,233 $24.0M Reduce -0.1%
CVX Chevron Corp. 1.69% 158,623 $23.0M Add +2.8%
SPGI S&P Global Inc. 1.55% 42,301 $21.1M Reduce -0.3%
ISRG Intuitive Surgical Inc. 1.52% 39,643 $20.7M Add +3.1%
APD Air Products & Chemicals Inc. 1.46% 68,310 $19.8M Add +2.7%
ABT Abbott Laboratories 1.41% 169,373 $19.2M Reduce -0.2%
CMG Chipotle Mexican Grill Inc. 1.39% 314,127 $18.9M Add +0.4%
LMT Lockheed Martin Corp. 1.15% 32,280 $15.7M Reduce -8.6%
CME Cme Group Inc. 1.10% 64,330 $14.9M Reduce -1.3%
ZTS Zoetis Inc. 1.02% 84,842 $13.8M Reduce -0.3%
AMAT Applied Materials Inc. 1.00% 83,288 $13.5M Add +20.9%
CL Colgate-Palmolive Co. 0.85% 126,732 $11.5M Add +3.7%
ECL Ecolab Inc. 0.79% 45,915 $10.8M Add +0.1%
STZ Constellation Brands Inc. Class A 0.74% 45,779 $10.1M Reduce -2.8%
NFLX Netflix Inc. 0.70% 10,713 $9.5M Add +3.7%
GE General Electric filed as GE AEROSPACE 0.62% 50,705 $8.5M Add +2420.1%
FBND Fidelity Total Bond ETF 0.29% 88,462 $4.0M Add +5.9%
DHR Danaher Corp. 0.28% 16,515 $3.8M Reduce -16.2%
BRK.B Berkshire Hathaway Inc. Class B 0.20% 6,046 $2.7M Reduce -13.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 4,370 $2.6M Add +0.3%
PEP Pepsico Inc. 0.19% 16,678 $2.5M Reduce -25.8%
IJH iShares Core S&P Midcap ETF 0.18% 39,917 $2.5M Reduce -5.1%
GMS GMS Inc. 0.16% 25,200 $2.1M New
PG The Procter & Gamble Co. 0.15% 12,278 $2.1M Reduce -8.0%
IVV iShares Core S&P 500 ETF 0.14% 3,254 $1.9M Reduce -6.8%
EFA iShares MSCI Eafe ETF 0.14% 24,587 $1.9M Reduce -5.9%
GOOGL Alphabet Inc. Class A 0.13% 9,255 $1.8M Reduce -4.5%
SCHD Schwab US DVD Equity ETF 0.12% 61,701 $1.7M Add +5.2%
XOM Exxon Mobil Corp. 0.12% 15,237 $1.6M Add +0.4%
TCHP T Rowe Price Blue Chip Growt 0.11% 35,932 $1.5M Add +41.9%
MRK Merck & Co. Inc. 0.10% 13,593 $1.4M Reduce -4.4%
PNC PNC Financial Services Group 0.10% 6,882 $1.3M Add +7.8%
JPST JPMorgan Ultra-Short Income 0.10% 26,072 $1.3M Add +2.1%
VOO Vanguard S&P 500 ETF 0.09% 2,340 $1.3M Add +79.3%
QQQ Invesco QQQ Trust Series 1 0.09% 2,393 $1.2M Add +31.5%
TSLA Tesla Inc. 0.08% 2,619 $1.1M Reduce -10.0%
MCO Moody's Corp. 0.08% 2,156 $1.0M Reduce -1.2%
VIG Vanguard Dividend Apprec ETF 0.07% 4,962 $972K Add +1.0%
AON Aon PLC Class A 0.07% 2,634 $946K Reduce -0.4%
ROP Roper Technologies Inc. 0.07% 1,801 $936K Reduce -9.7%
UNP Union Pacific Corp. 0.06% 3,750 $855K Reduce -3.2%
ORCL Oracle Corp. 0.06% 5,108 $851K Add +13.7%
SHW The Sherwin-Williams Co. 0.06% 2,286 $777K Reduce -5.1%
NEE Nextera Energy Inc. 0.06% 10,519 $754K Add +2.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.05% 3,299 $725K Reduce -8.3%
CSCO Cisco Systems Inc. 0.05% 11,984 $709K Add +1.4%
ADP Automatic Data Processing 0.05% 2,400 $703K Reduce -11.0%
SBUX Starbucks Corp. 0.05% 7,249 $661K Reduce -0.2%
MUB iShares National Muni Bond E 0.05% 6,124 $653K Add +30.7%
ACWX iShares MSCI Acwi Ex US ETF 0.04% 11,423 $596K Reduce -3.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.04% 7,639 $578K Add +1.5%
WMT Walmart Inc. 0.04% 6,356 $574K Add +0.3%
KO The Coca-Cola Co. 0.04% 9,051 $564K Add +1.2%
QCOM Qualcomm Inc. 0.04% 3,560 $547K Add +2.1%
VZ Verizon Communications Inc. 0.04% 12,789 $511K Reduce -13.2%
TRMK Trustmark Corp. 0.04% 14,028 $496K No change
JEF Jefferies Financial Group Inc. 0.04% 6,316 $495K No change
IWB iShares Russell 1000 ETF 0.04% 1,518 $489K Add +26.5%
V Visa Inc. Class A 0.03% 1,490 $471K Add +37.6%
MCD McDonald's Corp. 0.03% 1,622 $470K Reduce -0.3%
PFE Pfizer Inc. 0.03% 17,519 $465K Reduce -9.6%
IJS iShares S&P Small-Cap 600 Va 0.03% 3,995 $434K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 3,839 $427K Reduce -26.3%
ABBV Abbvie Inc. 0.03% 2,337 $415K Add +27.0%
VMC Vulcan Materials Co. 0.03% 1,554 $400K No change
VTI VG Morningstar TS MKT ETF-US 0.03% 1,345 $390K Reduce -1.3%
WM Waste Management Inc. 0.03% 1,913 $386K New
IXUS iShares Core Intl Stock ETF 0.03% 5,793 $383K Add +22.8%
BBY Best Buy Co. Inc. 0.03% 4,302 $369K Add +1.2%
VEA Vanguard Ftse Developed ETF 0.03% 7,668 $367K Add +13.8%
VB Vanguard Most SM-Cap ETF-Usd 0.03% 1,503 $361K No change
AVGO Broadcom Inc. 0.03% 1,463 $339K Reduce -17.0%
ADBE Adobe Inc. 0.02% 740 $329K Reduce -10.5%
TMO Thermo Fisher Scientific Inc. 0.02% 614 $319K Reduce -5.0%
CWT California Water Service Grp 0.02% 6,667 $302K New
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.02% 3,460 $295K Add +0.3%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.02% 679 $289K New
CTAS Cintas Corp. 0.02% 1,492 $273K Reduce -36.6%
EW Edwards Lifesciences Corp. 0.02% 3,575 $265K Reduce -1.6%
CAT Caterpillar Inc. 0.02% 709 $257K Reduce -5.8%
MDT Medtronic PLC 0.02% 3,180 $254K Reduce -10.8%
IDXX Idexx Laboratories Inc. 0.02% 568 $235K No change
SCHZ Schwab US Aggregate Bond ETF 0.02% 10,194 $231K Reduce -1.1%
QUAL iShares MSCI USA Quality Fac 0.02% 1,293 $230K No change
PLD Prologis Inc. 0.02% 2,175 $230K Reduce -5.8%
AMT American Tower Corp. 0.02% 1,171 $215K Add +0.6%
ROK Rockwell Automation Inc. 0.02% 750 $214K No change
EMR Emerson Electric Co. 0.02% 1,726 $214K New
LOW Lowe's Cos Inc. 0.02% 863 $213K Add +10.9%
COP Conocophillips 0.02% 2,122 $210K New
PM Philip Morris International 0.01% 1,696 $204K New
ETN Eaton Corp. PLC 0.01% 611 $203K New
T AT&T Inc. 0.01% 8,871 $202K Reduce -41.3%
BMY Bristol-Myers Squibb Co. 0.01% 3,559 $201K New
F Ford Motor Co. filed as FORD MTR CO 0.01% 13,550 $134K No change
GGN Gamco GLBL Gold NTRL Res Inc. 0.00% 10,000 $38K No change

Portfolio Sells Q3 2024 → Q4 2024
LLY Eli Lilly & Co. Reduce -0.7% 2.64% −0.52
MSFT Microsoft Corp. Reduce -0.4% 7.88% −0.48
LMT Lockheed Martin Corp. Reduce -8.6% 1.15% −0.42
JNJ Johnson & Johnson Reduce -0.1% 1.77% −0.29
ZTS Zoetis Inc. Reduce -0.3% 1.02% −0.25
STZ Constellation Brands Inc. Class A Reduce -2.8% 0.74% −0.18
DHR Danaher Corp. Reduce -16.2% 0.28% −0.14
SPGI S&P Global Inc. Reduce -0.3% 1.55% −0.12
PEP Pepsico Inc. Reduce -25.8% 0.19% −0.10
META Meta Platforms Inc. Class A Reduce -1.1% 4.21% −0.10
ABT Abbott Laboratories Reduce -0.2% 1.41% −0.07
BRK.B Berkshire Hathaway Inc. Class B Reduce -13.9% 0.20% −0.04
EFA iShares MSCI Eafe ETF Reduce -5.9% 0.14% −0.03
PG The Procter & Gamble Co. Reduce -8.0% 0.15% −0.02
MRK Merck & Co. Inc. Reduce -4.4% 0.10% −0.02
BN Brookfield Corp. Sold out 0.00% −0.02
NSC Norfolk Southern Corp. Sold out 0.00% −0.02
CTAS Cintas Corp. Reduce -36.6% 0.02% −0.02
IJH iShares Core S&P Midcap ETF Reduce -5.1% 0.18% −0.02
IEFA iShares Core MSCI Eafe ETF Sold out 0.00% −0.02
MKL Markel Group Inc. Sold out 0.00% −0.02
VCIT Vanguard Int-Term Corporate Sold out 0.00% −0.02
ROP Roper Technologies Inc. Reduce -9.7% 0.07% −0.02
SHW The Sherwin-Williams Co. Reduce -5.1% 0.06% −0.01
VZ Verizon Communications Inc. Reduce -13.2% 0.04% −0.01
IVV iShares Core S&P 500 ETF Reduce -6.8% 0.14% −0.01
T AT&T Inc. Reduce -41.3% 0.01% −0.01
UNP Union Pacific Corp. Reduce -3.2% 0.06% −0.01
PFE Pfizer Inc. Reduce -9.6% 0.03% −0.01
ADBE Adobe Inc. Reduce -10.5% 0.02% −0.01
ACWX iShares MSCI Acwi Ex US ETF Reduce -3.0% 0.04% −0.01
IBM Intl Business Machines Corp. Reduce -8.3% 0.05% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -5.0% 0.02% −0.01
DIS The Walt Disney Co. Reduce -26.3% 0.03% −0.01
MDT Medtronic PLC Reduce -10.8% 0.02% −0.01
PLD Prologis Inc. Reduce -5.8% 0.02% −0.01
SBUX Starbucks Corp. Reduce -0.2% 0.05% −0.01
ADP Automatic Data Processing Reduce -11.0% 0.05% −0.01
MCO Moody's Corp. Reduce -1.2% 0.08% −0.00
CAT Caterpillar Inc. Reduce -5.8% 0.02% −0.00
MCD McDonald's Corp. Reduce -0.3% 0.03% −0.00
SCHZ Schwab US Aggregate Bond ETF Reduce -1.1% 0.02% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -1.3% 0.03% −0.00
AON Aon PLC Class A Reduce -0.4% 0.07% −0.00
EW Edwards Lifesciences Corp. Reduce -1.6% 0.02% +0.00
AVGO Broadcom Inc. Reduce -17.0% 0.03% +0.00
CME Cme Group Inc. Reduce -1.3% 1.10% +0.00
GOOGL Alphabet Inc. Class A Reduce -4.5% 0.13% +0.01
TSLA Tesla Inc. Reduce -10.0% 0.08% +0.02

Portfolio Buys Q3 2024 → Q4 2024
AMZN Amazon.com Inc. Add +1.8% 5.85% +0.79
GE General Electric Add +2420.1% 0.62% +0.59
GOOG Alphabet Inc. Class C Add +0.6% 5.62% +0.54
NVDA Nvidia Corp. Add +0.5% 7.17% +0.48
AAPL Apple Inc. Add +0.2% 9.34% +0.35
MS Morgan Stanley Add +0.0% 2.46% +0.35
JPM JPMorgan Chase & Co. Add +0.2% 3.52% +0.32
GMS GMS Inc. New 0.16% +0.16
AXP American Express Co. Add +0.6% 2.63% +0.15
NFLX Netflix Inc. Add +3.7% 0.70% +0.14
MA Mastercard Inc. Class A Add +1.7% 3.00% +0.13
HON Honeywell International Inc. Add +0.1% 2.50% +0.13
ISRG Intuitive Surgical Inc. Add +3.1% 1.52% +0.08
VOO Vanguard S&P 500 ETF Add +79.3% 0.09% +0.04
TCHP T Rowe Price Blue Chip Growt Add +41.9% 0.11% +0.03
WM Waste Management Inc. New 0.03% +0.03
CWT California Water Service Grp New 0.02% +0.02
QQQ Invesco QQQ Trust Series 1 Add +31.5% 0.09% +0.02
DIA SS SPDR Dow Jones Indus Avg New 0.02% +0.02
CMG Chipotle Mexican Grill Inc. Add +0.4% 1.39% +0.02
EMR Emerson Electric Co. New 0.02% +0.02
COP Conocophillips New 0.02% +0.02
PM Philip Morris International New 0.01% +0.01
ETN Eaton Corp. PLC New 0.01% +0.01
BMY Bristol-Myers Squibb Co. New 0.01% +0.01
V Visa Inc. Class A Add +37.6% 0.03% +0.01
MUB iShares National Muni Bond E Add +30.7% 0.05% +0.01
PNC PNC Financial Services Group Add +7.8% 0.10% +0.01
COST Costco Wholesale Corp. Add +0.4% 4.17% +0.01
IWB iShares Russell 1000 ETF Add +26.5% 0.04% +0.01
CSCO Cisco Systems Inc. Add +1.4% 0.05% +0.00
ORCL Oracle Corp. Add +13.7% 0.06% +0.00
WMT Walmart Inc. Add +0.3% 0.04% +0.00
ABBV Abbvie Inc. Add +27.0% 0.03% +0.00
IXUS iShares Core Intl Stock ETF Add +22.8% 0.03% +0.00
VEA Vanguard Ftse Developed ETF Add +13.8% 0.03% −0.00
LOW Lowe's Cos Inc. Add +10.9% 0.02% −0.00
CF CF Industries Holdings Inc. Add +0.3% 0.02% −0.00
SCHD Schwab US DVD Equity ETF Add +5.2% 0.12% −0.00
JPST JPMorgan Ultra-Short Income Add +2.1% 0.10% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +0.3% 0.19% −0.00
VIG Vanguard Dividend Apprec ETF Add +1.0% 0.07% −0.00
XLU St Sr Utl SL SE SPDR ETF-Usd Add +1.5% 0.04% −0.00
AMT American Tower Corp. Add +0.6% 0.02% −0.00
QCOM Qualcomm Inc. Add +2.1% 0.04% −0.00
FBND Fidelity Total Bond ETF Add +5.9% 0.29% −0.01
BBY Best Buy Co. Inc. Add +1.2% 0.03% −0.01
KO The Coca-Cola Co. Add +1.2% 0.04% −0.01
TJX TJX Companies Inc. Add +0.4% 1.97% −0.01
NEE Nextera Energy Inc. Add +2.7% 0.06% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 127$1.7BAAPL, GOOG, NVDA, AMZN, MSFT
Q1 2026 119$1.5BAAPL, GOOG, NVDA, MSFT, AMZN
Q4 2025 116$1.6BAAPL, GOOG, MSFT, NVDA, AMZN
Q3 2025 114$1.5BNVDA, MSFT, AAPL, GOOG, AMZN
Q2 2025 116$1.5BMSFT, NVDA, AAPL, AMZN, GOOG
Q1 2025 120$1.3BAAPL, MSFT, NVDA, AMZN, GOOG
Q4 2024 115$1.4BAAPL, MSFT, NVDA, AMZN, GOOG
Q3 2024 111$1.3BAAPL, MSFT, NVDA, GOOG, AMZN
Q2 2024 113$1.2BMSFT, AAPL, NVDA, GOOG, AMZN
Q1 2024 106$1.1BMSFT, AAPL, NVDA, GOOG, AMZN