Maple Capital Management, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Maple Capital Management, Inc. reported 116 stock positions worth $1.5 billion. Its top holding was Microsoft (MSFT) at 8.9% of the portfolio, followed by Nvidia (NVDA, 8.2%) and Apple (AAPL, 7.4%). Compared with Q1 2025, it opened 9 new positions, sold out of 13, added to 43 and reduced 59. The biggest buy was Nvidia (NVDA, shares +3%) and the biggest sale Unitedhealth (UNH, shares −4%).

Most Recent 13F
Q2 2026
Location
MONTPELIER, VT
CIK
0001313893
Portfolio Value
$1.5B (Q2 2025)
SEC Filing
0001313893-25-000004 ↗ filed Aug 8, 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 Q1 2025 Q2 2025: $1.5B $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 116 stocks · $1.5B
MSFT Microsoft Corp. 8.90% 261,254 $130.0M Add +2.6%
NVDA Nvidia Corp. 8.18% 755,771 $119.4M Add +3.2%
AAPL Apple Inc. 7.35% 523,384 $107.4M Add +2.7%
AMZN Amazon.com Inc. 5.94% 395,044 $86.7M Add +5.0%
GOOG Alphabet Inc. Class C 5.35% 440,790 $78.2M Add +9.0%
META Meta Platforms Inc. Class A 5.06% 100,032 $73.8M Add +2.9%
COST Costco Wholesale Corp. 4.33% 63,930 $63.3M Add +2.8%
JPM JPMorgan Chase & Co. 3.81% 191,841 $55.6M Reduce -1.2%
TXN Texas Instruments Inc. 3.31% 232,753 $48.3M Add +3.5%
MA Mastercard Inc. Class A 3.11% 80,814 $45.4M Add +2.8%
IJR iShares Core S&P Small-Cap E 2.70% 360,850 $39.4M Add +8.9%
AXP American Express Co. 2.52% 115,552 $36.9M Reduce -1.1%
LLY Eli Lilly & Co. 2.50% 46,767 $36.5M Add +1.5%
HON Honeywell International Inc. 2.48% 155,222 $36.1M Add +2.5%
ACN Accenture PLC Class A 2.32% 113,380 $33.9M Add +2.4%
MS Morgan Stanley 2.28% 236,161 $33.3M Reduce -5.1%
HD Home Depot Inc. 2.15% 85,517 $31.4M Add +3.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.91% 225,491 $27.8M Add +1.9%
JNJ Johnson & Johnson 1.80% 171,848 $26.2M Add +2.3%
CVX Chevron Corp. 1.67% 170,324 $24.4M Add +4.6%
ABT Abbott Laboratories 1.60% 172,197 $23.4M Add +1.3%
SPGI S&P Global Inc. 1.54% 42,764 $22.5M Add +1.5%
ISRG Intuitive Surgical Inc. 1.43% 38,355 $20.8M Reduce -0.7%
UNH Unitedhealth Group Inc. 1.42% 66,413 $20.7M Reduce -3.5%
APD Air Products & Chemicals Inc. 1.41% 72,848 $20.5M Add +2.8%
CMG Chipotle Mexican Grill Inc. 1.37% 355,336 $20.0M Add +7.5%
GE General Electric filed as GE AEROSPACE 1.35% 76,452 $19.7M Add +17.3%
CME Cme Group Inc. 1.21% 64,337 $17.7M Add +0.7%
AMAT Applied Materials Inc. 1.11% 88,441 $16.2M Add +3.1%
NFLX Netflix Inc. 1.05% 11,425 $15.3M Add +3.4%
CL Colgate-Palmolive Co. 1.02% 164,077 $14.9M Add +15.7%
ZTS Zoetis Inc. 0.94% 87,552 $13.7M Add +1.9%
LMT Lockheed Martin Corp. 0.89% 28,052 $13.0M Reduce -7.2%
ECL Ecolab Inc. 0.87% 46,944 $12.6M Add +1.5%
UBER Uber Technologies Inc. 0.63% 99,263 $9.3M New
FBND Fidelity Total Bond ETF 0.30% 97,294 $4.5M Add +1.5%
BRK.B Berkshire Hathaway Inc. Class B 0.20% 6,041 $2.9M Add +6.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.18% 4,325 $2.7M Add +21.4%
EFA iShares MSCI Eafe ETF 0.15% 25,306 $2.3M Reduce -1.0%
IJH iShares Core S&P Midcap ETF 0.15% 36,420 $2.3M Add +9.6%
BRK.A Berkshire Hathaway Inc. Class A 0.15% 3 $2.2M Reduce -50.0%
IVV iShares Core S&P 500 ETF 0.15% 3,483 $2.2M Reduce -6.1%
TCHP T Rowe Price Blue Chip Growt 0.13% 40,895 $1.9M Add +3.4%
SCHD Schwab US DVD Equity ETF 0.12% 65,950 $1.7M Reduce -2.1%
PG The Procter & Gamble Co. 0.12% 10,961 $1.7M Reduce -7.0%
GOOGL Alphabet Inc. Class A 0.12% 9,867 $1.7M Reduce -0.5%
DHR Danaher Corp. 0.11% 8,038 $1.6M Reduce -28.8%
XOM Exxon Mobil Corp. 0.11% 14,367 $1.5M Reduce -6.7%
JPST JPMorgan Ultra-Short Income 0.10% 29,491 $1.5M Reduce -8.0%
GMS GMS Inc. 0.09% 12,250 $1.3M Reduce -51.4%
VOO Vanguard S&P 500 ETF 0.09% 2,231 $1.3M Reduce -3.0%
QQQ Invesco QQQ Trust Series 1 0.09% 2,285 $1.3M Reduce -4.5%
ORCL Oracle Corp. 0.08% 5,052 $1.1M Add +1.3%
IXUS iShares Core Intl Stock ETF 0.07% 13,993 $1.1M Add +68.0%
MCO Moody's Corp. 0.07% 2,152 $1.1M No change
TSLA Tesla Inc. 0.07% 3,257 $1.0M Add +4.6%
VIG Vanguard Dividend Apprec ETF 0.07% 4,958 $1.0M Reduce -1.3%
MCD McDonald's Corp. 0.07% 3,369 $984K Reduce -4.6%
PNC PNC Financial Services Group 0.07% 5,249 $979K Reduce -10.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 3,083 $909K Reduce -0.3%
PEP Pepsico Inc. 0.06% 6,871 $907K Reduce -36.0%
UNP Union Pacific Corp. 0.06% 3,653 $840K Reduce -3.7%
MRK Merck & Co. Inc. 0.06% 10,339 $818K Reduce -15.6%
SHW The Sherwin-Williams Co. 0.05% 2,152 $739K Reduce -5.0%
ABBV Abbvie Inc. 0.05% 3,922 $728K Add +14.4%
ADP Automatic Data Processing 0.05% 2,357 $727K Reduce -0.2%
WMT Walmart Inc. 0.04% 6,707 $656K Add +3.6%
QUAL iShares MSCI USA Quality Fac 0.04% 3,543 $648K Reduce -9.2%
KO The Coca-Cola Co. 0.04% 9,061 $641K Add +15.2%
V Visa Inc. Class A 0.04% 1,774 $630K Reduce -8.5%
CSCO Cisco Systems Inc. 0.04% 8,834 $613K Reduce -17.7%
ACWX iShares MSCI Acwi Ex US ETF 0.04% 10,031 $611K Add +2.8%
ROP Roper Technologies Inc. 0.04% 1,031 $584K Reduce -28.0%
NEE Nextera Energy Inc. 0.04% 7,671 $533K Reduce -9.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.04% 6,500 $531K Reduce -14.3%
IWB iShares Russell 1000 ETF 0.04% 1,518 $515K No change
TRMK Trustmark Corp. 0.04% 14,028 $511K No change
SBUX Starbucks Corp. 0.03% 5,474 $502K Reduce -11.3%
MUB iShares National Muni Bond E 0.03% 4,617 $482K Reduce -1.7%
VZ Verizon Communications Inc. 0.03% 10,295 $445K Reduce -18.9%
RSP Invesco S&P 500 Equal Weight 0.03% 2,445 $444K Reduce -41.1%
AVGO Broadcom Inc. 0.03% 1,542 $425K Add +22.8%
QCOM Qualcomm Inc. 0.03% 2,646 $421K Reduce -26.4%
MDT Medtronic PLC 0.03% 4,667 $407K Add +54.8%
WM Waste Management Inc. 0.03% 1,703 $390K Reduce -26.5%
VMC Vulcan Materials Co. 0.03% 1,460 $381K Reduce -1.1%
VTI VG Morningstar TS MKT ETF-US 0.03% 1,228 $373K Reduce -16.8%
IJS iShares S&P Small-Cap 600 Va 0.03% 3,695 $368K Reduce -7.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 2,846 $353K Reduce -6.9%
JEF Jefferies Financial Group Inc. 0.02% 6,316 $345K Reduce -0.0%
TT Trane Technologies PLC 0.02% 756 $331K Reduce -0.8%
PFE Pfizer Inc. 0.02% 13,459 $326K Reduce -9.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.02% 706 $310K New
PM Philip Morris International 0.02% 1,693 $308K No change
IDXX Idexx Laboratories Inc. 0.02% 568 $305K Reduce -0.9%
CWT California Water Service Grp 0.02% 6,667 $303K No change
EW Edwards Lifesciences Corp. 0.02% 3,850 $301K Reduce -0.1%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.02% 672 $296K Add +4.5%
FIX Comfort Systems USA Inc. 0.02% 546 $293K New
CAT Caterpillar Inc. 0.02% 743 $289K Reduce -15.7%
AMT American Tower Corp. 0.02% 1,139 $252K Reduce -1.5%
ROK Rockwell Automation Inc. 0.02% 753 $250K Reduce -31.7%
QXO Qxo Inc. 0.02% 11,445 $247K New
COF Capital One Financial Corp. 0.02% 1,147 $244K New
T AT&T Inc. 0.02% 8,163 $236K Reduce -7.3%
EFG iShares MSCI Eafe Growth ETF 0.02% 2,010 $225K New
SHOP Shopify Inc. Class A 0.02% 1,941 $224K New
IEFA iShares Core MSCI Eafe ETF 0.02% 2,672 $223K New
TMO Thermo Fisher Scientific Inc. 0.02% 544 $221K Reduce -3.0%
EMR Emerson Electric Co. 0.01% 1,641 $219K New
BBY Best Buy Co. Inc. 0.01% 3,214 $216K Reduce -30.3%
SCHZ Schwab US Aggregate Bond ETF 0.01% 8,919 $207K Reduce -6.6%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.01% 2,250 $207K Reduce -47.1%
PLD Prologis Inc. 0.01% 1,913 $201K Reduce -5.0%
LIN Linde PLC 0.01% 427 $200K Reduce -7.2%
F Ford Motor Co. filed as FORD MTR CO 0.01% 13,850 $150K Reduce -3.5%

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -3.5% 1.42% −1.37
BRK.A Berkshire Hathaway Inc. Class A Reduce -50.0% 0.15% −0.22
LMT Lockheed Martin Corp. Reduce -7.2% 0.89% −0.15
DHR Danaher Corp. Reduce -28.8% 0.11% −0.07
PEP Pepsico Inc. Reduce -36.0% 0.06% −0.06
GMS GMS Inc. Reduce -51.4% 0.09% −0.05
ISRG Intuitive Surgical Inc. Reduce -0.7% 1.43% −0.05
PG The Procter & Gamble Co. Reduce -7.0% 0.12% −0.04
XOM Exxon Mobil Corp. Reduce -6.7% 0.11% −0.04
VB Vanguard Most SM-Cap ETF-Usd Sold out 0.00% −0.03
BIL SS SPDR BB 1-3M T-Bill ETF Sold out 0.00% −0.03
IWM iShares Russell 2000 ETF Sold out 0.00% −0.03
MRK Merck & Co. Inc. Reduce -15.6% 0.06% −0.03
VEU Vanguard Ftse All-World Ex-U Sold out 0.00% −0.03
SCHD Schwab US DVD Equity ETF Reduce -2.1% 0.12% −0.03
ROP Roper Technologies Inc. Reduce -28.0% 0.04% −0.03
RSP Invesco S&P 500 Equal Weight Reduce -41.1% 0.03% −0.03
JPST JPMorgan Ultra-Short Income Reduce -8.0% 0.10% −0.02
NSC Norfolk Southern Corp. Sold out 0.00% −0.02
SPYG SS SPDR P S&P 500 Growth ETF Sold out 0.00% −0.02
SPMD SS SPDR P S&P 400 Midcap ETF Sold out 0.00% −0.02
IVW iShares S&P 500 Growth ETF Sold out 0.00% −0.02
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.02
MCD McDonald's Corp. Reduce -4.6% 0.07% −0.02
COP Conocophillips Sold out 0.00% −0.02
ADBE Adobe Inc. Sold out 0.00% −0.02
BEN Franklin Templeton Inc. Sold out 0.00% −0.01
WM Waste Management Inc. Reduce -26.5% 0.03% −0.01
VZ Verizon Communications Inc. Reduce -18.9% 0.03% −0.01
QCOM Qualcomm Inc. Reduce -26.4% 0.03% −0.01
IVV iShares Core S&P 500 ETF Reduce -6.1% 0.15% −0.01
PNC PNC Financial Services Group Reduce -10.5% 0.07% −0.01
SBUX Starbucks Corp. Reduce -11.3% 0.03% −0.01
UNP Union Pacific Corp. Reduce -3.7% 0.06% −0.01
CF CF Industries Holdings Inc. Reduce -47.1% 0.01% −0.01
BBY Best Buy Co. Inc. Reduce -30.3% 0.01% −0.01
SHW The Sherwin-Williams Co. Reduce -5.0% 0.05% −0.01
NEE Nextera Energy Inc. Reduce -9.7% 0.04% −0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -14.3% 0.04% −0.01
V Visa Inc. Class A Reduce -8.5% 0.04% −0.01
CSCO Cisco Systems Inc. Reduce -17.7% 0.04% −0.01
QUAL iShares MSCI USA Quality Fac Reduce -9.2% 0.04% −0.01
PFE Pfizer Inc. Reduce -9.5% 0.02% −0.01
EFA iShares MSCI Eafe ETF Reduce -1.0% 0.15% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -3.0% 0.02% −0.01
ADP Automatic Data Processing Reduce -0.2% 0.05% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -1.3% 0.07% −0.01
VTI VG Morningstar TS MKT ETF-US Reduce -16.8% 0.03% −0.01
MUB iShares National Muni Bond E Reduce -1.7% 0.03% −0.01
IJS iShares S&P Small-Cap 600 Va Reduce -7.5% 0.03% −0.00

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +3.2% 8.18% +2.04
MSFT Microsoft Corp. Add +2.6% 8.90% +1.51
META Meta Platforms Inc. Class A Add +2.9% 5.06% +0.73
UBER Uber Technologies Inc. New 0.63% +0.63
GOOG Alphabet Inc. Class C Add +9.0% 5.35% +0.47
AMZN Amazon.com Inc. Add +5.0% 5.94% +0.40
GE General Electric Add +17.3% 1.35% +0.34
NFLX Netflix Inc. Add +3.4% 1.05% +0.25
TXN Texas Instruments Inc. Add +3.5% 3.31% +0.19
AMAT Applied Materials Inc. Add +3.1% 1.11% +0.15
CMG Chipotle Mexican Grill Inc. Add +7.5% 1.37% +0.08
IXUS iShares Core Intl Stock ETF Add +68.0% 0.07% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Add +21.4% 0.18% +0.03
IJR iShares Core S&P Small-Cap E Add +8.9% 2.70% +0.02
ORCL Oracle Corp. Add +1.3% 0.08% +0.02
VUG Vanguard Mrngstar GR ETF-Sui New 0.02% +0.02
FIX Comfort Systems USA Inc. New 0.02% +0.02
QXO Qxo Inc. New 0.02% +0.02
COF Capital One Financial Corp. New 0.02% +0.02
EFG iShares MSCI Eafe Growth ETF New 0.02% +0.02
IEFA iShares Core MSCI Eafe ETF New 0.02% +0.02
SHOP Shopify Inc. Class A New 0.02% +0.02
EMR Emerson Electric Co. New 0.01% +0.01
AVGO Broadcom Inc. Add +22.8% 0.03% +0.01
TCHP T Rowe Price Blue Chip Growt Add +3.4% 0.13% +0.01
TSLA Tesla Inc. Add +4.6% 0.07% +0.01
MDT Medtronic PLC Add +54.8% 0.03% +0.01
IJH iShares Core S&P Midcap ETF Add +9.6% 0.15% +0.00
WMT Walmart Inc. Add +3.6% 0.04% +0.00
KO The Coca-Cola Co. Add +15.2% 0.04% +0.00
ACWX iShares MSCI Acwi Ex US ETF Add +2.8% 0.04% +0.00
DIA SS SPDR Dow Jones Indus Avg Add +4.5% 0.02% −0.00
HON Honeywell International Inc. Add +2.5% 2.48% −0.00
ABBV Abbvie Inc. Add +14.4% 0.05% −0.01
CL Colgate-Palmolive Co. Add +15.7% 1.02% −0.01
FBND Fidelity Total Bond ETF Add +1.5% 0.30% −0.03
BRK.B Berkshire Hathaway Inc. Class B Add +6.0% 0.20% −0.03
ECL Ecolab Inc. Add +1.5% 0.87% −0.04
CME Cme Group Inc. Add +0.7% 1.21% −0.10
SPGI S&P Global Inc. Add +1.5% 1.54% −0.11
ABT Abbott Laboratories Add +1.3% 1.60% −0.14
ZTS Zoetis Inc. Add +1.9% 0.94% −0.16
TJX TJX Companies Inc. Add +1.9% 1.91% −0.18
HD Home Depot Inc. Add +3.2% 2.15% −0.20
APD Air Products & Chemicals Inc. Add +2.8% 1.41% −0.21
COST Costco Wholesale Corp. Add +2.8% 4.33% −0.21
MA Mastercard Inc. Class A Add +2.8% 3.11% −0.22
ACN Accenture PLC Class A Add +2.4% 2.32% −0.35
JNJ Johnson & Johnson Add +2.3% 1.80% −0.36
CVX Chevron Corp. Add +4.6% 1.67% −0.44

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