Maple Capital Management, Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed June 16, 2025), Maple Capital Management, Inc. reported 120 stock positions worth $1.3 billion. Its top holding was Apple (AAPL) at 8.7% of the portfolio, followed by Microsoft (MSFT, 7.4%) and Nvidia (NVDA, 6.1%). Compared with Q4 2024, it opened 12 new positions, sold out of 7, added to 53 and reduced 48. The biggest buy was Chevron (CVX, shares +3%) and the biggest sale Constellation Brands Class A (STZ, shares −97%).

Most Recent 13F
Q2 2026
Location
MONTPELIER, VT
CIK
0001313893
Portfolio Value
$1.3B (Q1 2025)
SEC Filing
0001313893-25-000003 ↗ filed Jun 16, 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 Q4 2024 Q1 2025: $1.3B $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 120 stocks · $1.3B
AAPL Apple Inc. 8.75% 509,560 $113.2M Add +0.6%
MSFT Microsoft Corp. 7.39% 254,685 $95.6M Add +0.4%
NVDA Nvidia Corp. 6.14% 732,482 $79.4M Add +1.0%
AMZN Amazon.com Inc. 5.53% 376,269 $71.6M Add +3.9%
GOOG Alphabet Inc. Class C 4.88% 404,522 $63.2M Add +0.9%
COST Costco Wholesale Corp. 4.54% 62,171 $58.8M Add +0.5%
META Meta Platforms Inc. Class A 4.33% 97,233 $56.0M Reduce -0.4%
JPM JPMorgan Chase & Co. 3.68% 194,235 $47.6M Reduce -2.7%
MA Mastercard Inc. Class A 3.33% 78,605 $43.1M Add +1.6%
TXN Texas Instruments Inc. 3.12% 224,873 $40.4M Add +2.4%
LLY Eli Lilly & Co. 2.94% 46,089 $38.1M Reduce -0.7%
UNH Unitedhealth Group Inc. 2.79% 68,861 $36.1M Add +1.7%
IJR iShares Core S&P Small-Cap E 2.68% 331,234 $34.6M Add +7.1%
ACN Accenture PLC Class A 2.67% 110,723 $34.6M Add +0.4%
HON Honeywell International Inc. 2.48% 151,423 $32.1M Add +0.9%
AXP American Express Co. 2.43% 116,822 $31.4M Reduce -2.9%
HD Home Depot Inc. 2.35% 82,848 $30.4M Add +2.9%
MS Morgan Stanley 2.24% 248,891 $29.0M Reduce -6.4%
JNJ Johnson & Johnson 2.15% 167,981 $27.9M Add +1.1%
CVX Chevron Corp. 2.11% 162,849 $27.2M Add +2.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 2.08% 221,194 $26.9M Reduce -0.1%
ABT Abbott Laboratories 1.74% 169,957 $22.5M Add +0.3%
SPGI S&P Global Inc. 1.66% 42,148 $21.4M Reduce -0.4%
APD Air Products & Chemicals Inc. 1.62% 70,887 $20.9M Add +3.8%
ISRG Intuitive Surgical Inc. 1.48% 38,623 $19.1M Reduce -2.6%
CME Cme Group Inc. 1.31% 63,888 $16.9M Reduce -0.7%
CMG Chipotle Mexican Grill Inc. 1.28% 330,664 $16.6M Add +5.3%
ZTS Zoetis Inc. 1.09% 85,918 $14.1M Add +1.3%
LMT Lockheed Martin Corp. 1.04% 30,239 $13.5M Reduce -6.3%
CL Colgate-Palmolive Co. 1.03% 141,870 $13.3M Add +11.9%
GE General Electric filed as GE AEROSPACE 1.01% 65,156 $13.0M Add +28.5%
AMAT Applied Materials Inc. 0.96% 85,768 $12.4M Add +3.0%
ECL Ecolab Inc. 0.91% 46,251 $11.7M Add +0.7%
NFLX Netflix Inc. 0.80% 11,048 $10.3M Add +3.1%
BRK.A Berkshire Hathaway Inc. Class A 0.37% 6 $4.8M New
FBND Fidelity Total Bond ETF 0.34% 95,884 $4.4M Add +8.4%
BRK.B Berkshire Hathaway Inc. Class B 0.23% 5,702 $3.0M Reduce -5.7%
DHR Danaher Corp. 0.18% 11,285 $2.3M Reduce -31.7%
EFA iShares MSCI Eafe ETF 0.16% 25,553 $2.1M Add +3.9%
IVV iShares Core S&P 500 ETF 0.16% 3,711 $2.1M Add +14.0%
PG The Procter & Gamble Co. 0.16% 11,788 $2.0M Reduce -4.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.15% 3,563 $2.0M Reduce -18.5%
IJH iShares Core S&P Midcap ETF 0.15% 33,219 $1.9M Reduce -16.8%
SCHD Schwab US DVD Equity ETF 0.15% 67,386 $1.9M Add +9.2%
GMS GMS Inc. 0.14% 25,200 $1.8M No change
XOM Exxon Mobil Corp. 0.14% 15,406 $1.8M Add +1.1%
JPST JPMorgan Ultra-Short Income 0.13% 32,059 $1.6M Add +23.0%
PEP Pepsico Inc. 0.12% 10,738 $1.6M Reduce -35.6%
GOOGL Alphabet Inc. Class A 0.12% 9,913 $1.5M Add +7.1%
TCHP T Rowe Price Blue Chip Growt 0.12% 39,563 $1.5M Add +10.1%
VOO Vanguard S&P 500 ETF 0.09% 2,300 $1.2M Reduce -1.7%
QQQ Invesco QQQ Trust Series 1 0.09% 2,393 $1.1M No change
MCD McDonald's Corp. 0.09% 3,532 $1.1M Add +117.8%
MRK Merck & Co. Inc. 0.09% 12,252 $1.1M Reduce -9.9%
PNC PNC Financial Services Group 0.08% 5,862 $1.0M Reduce -14.8%
MCO Moody's Corp. 0.08% 2,152 $1.0M Reduce -0.2%
VIG Vanguard Dividend Apprec ETF 0.08% 5,022 $974K Add +1.2%
UNP Union Pacific Corp. 0.07% 3,792 $896K Add +1.1%
ROP Roper Technologies Inc. 0.07% 1,432 $844K Reduce -20.5%
TSLA Tesla Inc. 0.06% 3,115 $807K Add +18.9%
SHW The Sherwin-Williams Co. 0.06% 2,266 $791K Reduce -0.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 3,093 $769K Reduce -6.2%
ADP Automatic Data Processing 0.06% 2,361 $721K Reduce -1.6%
RSP Invesco S&P 500 Equal Weight 0.06% 4,151 $719K New
ABBV Abbvie Inc. 0.06% 3,429 $718K Add +46.7%
ORCL Oracle Corp. 0.05% 4,986 $697K Reduce -2.4%
V Visa Inc. Class A 0.05% 1,938 $679K Add +30.1%
QUAL iShares MSCI USA Quality Fac 0.05% 3,903 $667K Add +201.9%
CSCO Cisco Systems Inc. 0.05% 10,730 $662K Reduce -10.5%
SBUX Starbucks Corp. 0.05% 6,168 $605K Reduce -14.9%
NEE Nextera Energy Inc. 0.05% 8,492 $602K Reduce -19.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.05% 7,580 $598K Reduce -0.8%
IXUS iShares Core Intl Stock ETF 0.04% 8,329 $581K Add +43.8%
VZ Verizon Communications Inc. 0.04% 12,687 $575K Reduce -0.8%
WMT Walmart Inc. 0.04% 6,473 $568K Add +1.8%
KO The Coca-Cola Co. 0.04% 7,864 $563K Reduce -13.1%
QCOM Qualcomm Inc. 0.04% 3,596 $552K Add +1.0%
ACWX iShares MSCI Acwi Ex US ETF 0.04% 9,755 $541K Reduce -14.6%
WM Waste Management Inc. 0.04% 2,318 $537K Add +21.2%
MUB iShares National Muni Bond E 0.04% 4,697 $495K Reduce -23.3%
TRMK Trustmark Corp. 0.04% 14,028 $484K No change
IWB iShares Russell 1000 ETF 0.04% 1,518 $466K No change
VB Vanguard Most SM-Cap ETF-Usd 0.03% 1,897 $421K Add +26.2%
VTI VG Morningstar TS MKT ETF-US 0.03% 1,475 $405K Add +9.7%
BIL SS SPDR BB 1-3M T-Bill ETF 0.03% 4,406 $404K New
IWM iShares Russell 2000 ETF 0.03% 1,956 $390K New
IJS iShares S&P Small-Cap 600 Va 0.03% 3,995 $389K No change
PFE Pfizer Inc. 0.03% 14,869 $377K Reduce -15.1%
VEU Vanguard Ftse All-World Ex-U 0.03% 5,716 $347K New
VMC Vulcan Materials Co. 0.03% 1,477 $345K Reduce -5.0%
BBY Best Buy Co. Inc. 0.03% 4,609 $339K Add +7.1%
JEF Jefferies Financial Group Inc. 0.03% 6,318 $338K Add +0.0%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.03% 4,250 $332K Add +22.8%
CWT California Water Service Grp 0.03% 6,667 $323K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 3,058 $302K Reduce -20.3%
CAT Caterpillar Inc. 0.02% 881 $291K Add +24.3%
ROK Rockwell Automation Inc. 0.02% 1,103 $285K Add +47.1%
EW Edwards Lifesciences Corp. 0.02% 3,852 $279K Add +7.8%
TMO Thermo Fisher Scientific Inc. 0.02% 561 $279K Reduce -8.6%
NSC Norfolk Southern Corp. 0.02% 1,174 $278K New
SPYG SS SPDR P S&P 500 Growth ETF 0.02% 3,384 $272K New
MDT Medtronic PLC 0.02% 3,015 $271K Reduce -5.2%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.02% 643 $270K Reduce -5.3%
PM Philip Morris International 0.02% 1,693 $269K Reduce -0.2%
TT Trane Technologies PLC 0.02% 762 $257K New
AMT American Tower Corp. 0.02% 1,156 $252K Reduce -1.3%
T AT&T Inc. 0.02% 8,808 $249K Reduce -0.7%
SPMD SS SPDR P S&P 400 Midcap ETF 0.02% 4,737 $242K New
IDXX Idexx Laboratories Inc. 0.02% 573 $241K Add +0.9%
IVW iShares S&P 500 Growth ETF 0.02% 2,546 $236K New
STZ Constellation Brands Inc. Class A 0.02% 1,269 $233K Reduce -97.2%
PLD Prologis Inc. 0.02% 2,013 $225K Reduce -7.5%
SCHZ Schwab US Aggregate Bond ETF 0.02% 9,549 $221K Reduce -6.3%
COP Conocophillips 0.02% 2,097 $220K Reduce -1.2%
LIN Linde PLC 0.02% 460 $214K New
AVGO Broadcom Inc. 0.02% 1,256 $210K Reduce -14.2%
ADBE Adobe Inc. 0.02% 547 $210K Reduce -26.1%
BEN Franklin Templeton Inc. 0.01% 10,000 $193K New
F Ford Motor Co. filed as FORD MTR CO 0.01% 14,358 $144K Add +6.0%
GGN Gamco GLBL Gold NTRL Res Inc. 0.00% 10,000 $44K No change

Portfolio Sells Q4 2024 → Q1 2025
STZ Constellation Brands Inc. Class A Reduce -97.2% 0.02% −0.73
MS Morgan Stanley Reduce -6.4% 2.24% −0.22
AXP American Express Co. Reduce -2.9% 2.43% −0.20
LMT Lockheed Martin Corp. Reduce -6.3% 1.04% −0.11
DHR Danaher Corp. Reduce -31.7% 0.18% −0.10
AON Aon PLC Class A Sold out 0.00% −0.07
PEP Pepsico Inc. Reduce -35.6% 0.12% −0.06
ISRG Intuitive Surgical Inc. Reduce -2.6% 1.48% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Reduce -18.5% 0.15% −0.03
IJH iShares Core S&P Midcap ETF Reduce -16.8% 0.15% −0.03
VEA Vanguard Ftse Developed ETF Sold out 0.00% −0.03
CTAS Cintas Corp. Sold out 0.00% −0.02
PNC PNC Financial Services Group Reduce -14.8% 0.08% −0.02
EMR Emerson Electric Co. Sold out 0.00% −0.02
LOW Lowe's Cos Inc. Sold out 0.00% −0.02
ETN Eaton Corp. PLC Sold out 0.00% −0.01
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.01
MRK Merck & Co. Inc. Reduce -9.9% 0.09% −0.01
MUB iShares National Muni Bond E Reduce -23.3% 0.04% −0.01
NEE Nextera Energy Inc. Reduce -19.3% 0.05% −0.01
ORCL Oracle Corp. Reduce -2.4% 0.05% −0.01
AVGO Broadcom Inc. Reduce -14.2% 0.02% −0.01
DIS The Walt Disney Co. Reduce -20.3% 0.02% −0.01
ADBE Adobe Inc. Reduce -26.1% 0.02% −0.01
PFE Pfizer Inc. Reduce -15.1% 0.03% −0.01
ROP Roper Technologies Inc. Reduce -20.5% 0.07% −0.00
VMC Vulcan Materials Co. Reduce -5.0% 0.03% −0.00
ACWX iShares MSCI Acwi Ex US ETF Reduce -14.6% 0.04% −0.00
SBUX Starbucks Corp. Reduce -14.9% 0.05% −0.00
TMO Thermo Fisher Scientific Inc. Reduce -8.6% 0.02% −0.00
VOO Vanguard S&P 500 ETF Reduce -1.7% 0.09% −0.00
CSCO Cisco Systems Inc. Reduce -10.5% 0.05% −0.00
DIA SS SPDR Dow Jones Indus Avg Reduce -5.3% 0.02% −0.00
SCHZ Schwab US Aggregate Bond ETF Reduce -6.3% 0.02% +0.00
PLD Prologis Inc. Reduce -7.5% 0.02% +0.00
COP Conocophillips Reduce -1.2% 0.02% +0.00
KO The Coca-Cola Co. Reduce -13.1% 0.04% +0.00
MDT Medtronic PLC Reduce -5.2% 0.02% +0.00
MCO Moody's Corp. Reduce -0.2% 0.08% +0.00
AMT American Tower Corp. Reduce -1.3% 0.02% +0.00
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.8% 0.05% +0.00
PG The Procter & Gamble Co. Reduce -4.0% 0.16% +0.00
SHW The Sherwin-Williams Co. Reduce -0.9% 0.06% +0.00
ADP Automatic Data Processing Reduce -1.6% 0.06% +0.00
T AT&T Inc. Reduce -0.7% 0.02% +0.00
PM Philip Morris International Reduce -0.2% 0.02% +0.01
IBM Intl Business Machines Corp. Reduce -6.2% 0.06% +0.01
VZ Verizon Communications Inc. Reduce -0.8% 0.04% +0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -5.7% 0.23% +0.03
SPGI S&P Global Inc. Reduce -0.4% 1.66% +0.10

Portfolio Buys Q4 2024 → Q1 2025
CVX Chevron Corp. Add +2.7% 2.11% +0.41
GE General Electric Add +28.5% 1.01% +0.39
JNJ Johnson & Johnson Add +1.1% 2.15% +0.38
BRK.A Berkshire Hathaway Inc. Class A New 0.37% +0.37
COST Costco Wholesale Corp. Add +0.5% 4.54% +0.37
ABT Abbott Laboratories Add +0.3% 1.74% +0.33
MA Mastercard Inc. Class A Add +1.6% 3.33% +0.33
UNH Unitedhealth Group Inc. Add +1.7% 2.79% +0.26
CL Colgate-Palmolive Co. Add +11.9% 1.03% +0.18
APD Air Products & Chemicals Inc. Add +3.8% 1.62% +0.16
ECL Ecolab Inc. Add +0.7% 0.91% +0.11
NFLX Netflix Inc. Add +3.1% 0.80% +0.09
TXN Texas Instruments Inc. Add +2.4% 3.12% +0.09
ZTS Zoetis Inc. Add +1.3% 1.09% +0.08
RSP Invesco S&P 500 Equal Weight New 0.06% +0.06
IJR iShares Core S&P Small-Cap E Add +7.1% 2.68% +0.05
MCD McDonald's Corp. Add +117.8% 0.09% +0.05
FBND Fidelity Total Bond ETF Add +8.4% 0.34% +0.05
HD Home Depot Inc. Add +2.9% 2.35% +0.04
QUAL iShares MSCI USA Quality Fac Add +201.9% 0.05% +0.03
BIL SS SPDR BB 1-3M T-Bill ETF New 0.03% +0.03
IWM iShares Russell 2000 ETF New 0.03% +0.03
JPST JPMorgan Ultra-Short Income Add +23.0% 0.13% +0.03
VEU Vanguard Ftse All-World Ex-U New 0.03% +0.03
ABBV Abbvie Inc. Add +46.7% 0.06% +0.02
EFA iShares MSCI Eafe ETF Add +3.9% 0.16% +0.02
NSC Norfolk Southern Corp. New 0.02% +0.02
SCHD Schwab US DVD Equity ETF Add +9.2% 0.15% +0.02
SPYG SS SPDR P S&P 500 Growth ETF New 0.02% +0.02
XOM Exxon Mobil Corp. Add +1.1% 0.14% +0.02
IVV iShares Core S&P 500 ETF Add +14.0% 0.16% +0.02
TT Trane Technologies PLC New 0.02% +0.02
SPMD SS SPDR P S&P 400 Midcap ETF New 0.02% +0.02
IVW iShares S&P 500 Growth ETF New 0.02% +0.02
V Visa Inc. Class A Add +30.1% 0.05% +0.02
IXUS iShares Core Intl Stock ETF Add +43.8% 0.04% +0.02
LIN Linde PLC New 0.02% +0.02
BEN Franklin Templeton Inc. New 0.01% +0.01
WM Waste Management Inc. Add +21.2% 0.04% +0.01
UNP Union Pacific Corp. Add +1.1% 0.07% +0.01
ROK Rockwell Automation Inc. Add +47.1% 0.02% +0.01
VB Vanguard Most SM-Cap ETF-Usd Add +26.2% 0.03% +0.01
TCHP T Rowe Price Blue Chip Growt Add +10.1% 0.12% +0.01
CF CF Industries Holdings Inc. Add +22.8% 0.03% +0.00
VIG Vanguard Dividend Apprec ETF Add +1.2% 0.08% +0.00
CAT Caterpillar Inc. Add +24.3% 0.02% +0.00
VTI VG Morningstar TS MKT ETF-US Add +9.7% 0.03% +0.00
QCOM Qualcomm Inc. Add +1.0% 0.04% +0.00
EW Edwards Lifesciences Corp. Add +7.8% 0.02% +0.00
WMT Walmart Inc. Add +1.8% 0.04% +0.00

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