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Maple Capital Management, Inc. — 13F Holdings & Portfolio

CIK 1313893 · latest 13F-HR filed 2026-11-02

Backtest portfolio

Maple Capital Management, Inc. manages $1.70B in 13F-reported U.S. long-equity assets across 129 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are AAPL (9.95%), NVDA (8.58%), GOOG (7.61%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 8 new positions and exited 9; 21 existing positions rose in reported value and 60 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.70B

Long-equity book

Holdings
129

Distinct positions

Period
2026-09-30

Filed 2026-11-02

Q/Q Activity
+8 / −9 / ↑21 / ↓60

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
AAPL9.9% · -2%NVDA8.6% · -2%GOOG7.6% · -2%MSFT7.6% · -3%AMZN6.1% · 0%META4.2% · -3%TXN3.8% · -3%COST3.3% · -2%LLY3.2% · -2%IJR3.1% · -3%JPM3.0% · -4%AMAT2.9% · -3%JNJ2.6% · -2%MA2.6% · -3%CVX2.1% · -2%IEMG2.0% · +15%AVGO1.9% · +1%MS1.9% · -4%TJX1.7% · -3%GE1.6% · -1%HD1.4% · +5%APD1.2% · -1%AXP1.2% · -6%ISRG1.1% · +1%TSM1.0% · +1%SPGI1.0% · -1%CME0.9% · -1%ABT0.9% · -2%HON0.9% · -2%CL0.9% · -1%ECL0.7% · -2%GEV0.7% · +2359%HONA0.7% · -1%CMG0.7% · -1%ARM0.7% · newTSLA0.6% · +11%UBER0.5% · -1%NFLX0.5% · -1%MSCI0.4% · +2%SPY0.4% · -1%FBND0.3% · -1%ZTS0.2% · +2%SPYM0.2% · -6%BRK.B0.2% · +0%GOOGL0.2% · -4%EFA0.2% · 0%XOM0.1% · -6%IVV0.1% · -4%IJH0.1% · -8%GLW0.1% · +0%JPST0.1% · -6%VOO0.1% · -1%MU0.1% · +1%QQQ0.1% · -12%IXUS0.1% · -7%VIG0.1% · -2%MRK0.1% · -3%PG0.1% · -2%CAT0.1% · -1%ABBV0.1% · -8%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 57.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Aug 5, 2026.

Assets Under Management
$2.58B
Discretionary
$2.58B
Employees
27
Accounts
3,579
Address
535 STONE CUTTERS WAY
MONTPELIER, VT 05602
Phone
(802) 229-2838
Website
Name Title / Status Ownership Type
BEARD, COURTRIGHT, TEACHOUT ControlOPERATIONS MANAGER / SHAREHOLDER
since Jan 2020
5–10%Individual
LEWIS, ELIZABETH, SARAH HINCHLIFFE ControlPORTFOLIO MANAGEMENT TEAM LEAD / SHAREHOLDER
since Jan 2017
5–10%Individual
LUHR, RAMSEY, A ControlPRESIDENT / SHAREHOLDER
since Dec 2023
50–75%Individual
ROPER, HILARY, THOMPSON ControlRESEARCH ANALYST / SHAREHOLDER
since Jan 2019
5–10%Individual
Rawlings, Thomas, Wayne ControlCHIEF OPERATING OFFICER / CHIEF COMPLIANCE OFFICER
since Jan 2024
Less than 5%Individual
LITCHFIELD, RICHARD, JOHNSR. VP & FIXED INCOME PORTFOLIO MANAGER
since Jan 2026
5–10%Individual
Ownership & leadership changes · 11 filings with changes since Mar 20, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Aug 5, 2026 filing
  • AddedLITCHFIELD, RICHARD, JOHN · SR. VP & FIXED INCOME PORTFOLIO MANAGER · 5–10%
  • ChangedLEWIS, ELIZABETH, SARAH HINCHLIFFE · ownership Less than 5% → 5–10%
Feb 4, 2025 filing
  • No longer listedKILLORAN, STEVEN, LAWRENCE · EXECUTIVE VICE PRESIDENT & SHAREHOLDER · 5–10% · control person · listed since Jan 2014
Jan 31, 2024 filing
  • AddedRawlings, Thomas, Wayne · CHIEF OPERATING OFFICER / CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBEARD, COURTRIGHT, TEACHOUT · now a control person
  • ChangedKILLORAN, STEVEN, LAWRENCE · now a control person
  • ChangedLUHR, RAMSEY, A · title PRESIDENT / SHAREHOLDER / CHIEF COMPLIANCE OFFICER → PRESIDENT / SHAREHOLDER
  • ChangedROPER, HILARY, THOMPSON · now a control person
Dec 11, 2023 filing
  • No longer listedPEMBERTON, EVAN, ISAIAH · CHIEF COMPLIANCE OFFICER / SHAREHOLDER · Less than 5% · listed since Jan 2019
  • ChangedLUHR, RAMSEY, A · title PRESIDENT / SHAREHOLDER → PRESIDENT / SHAREHOLDER / CHIEF COMPLIANCE OFFICER
Mar 31, 2021 filing
  • ChangedLUHR, RAMSEY, A · ownership 75% or more → 50–75%
  • ChangedROPER, HILARY, THOMPSON · title SHAREHOLDER → RESEARCH ANALYST / SHAREHOLDER
Mar 30, 2020 filing
  • No longer listedESCOTT, TIMOTHY, CHARLES · PORTFOLIO MANAGER / SHAREHOLDER · Less than 5% · listed since Jan 2018
  • AddedBEARD, COURTRIGHT, TEACHOUT · OPERATIONS MANAGER / SHAREHOLDER · 5–10%
  • ChangedKILLORAN, STEVEN, LAWRENCE · title VICE PRESIDENT & SHAREHOLDER → EXECUTIVE VICE PRESIDENT & SHAREHOLDER
  • ChangedLEWIS, ELIZABETH, SARAH HINCHLIFFE · title PORTFOLIO MANAGER / SHAREHOLDER → PORTFOLIO MANAGEMENT TEAM LEAD / SHAREHOLDER
Apr 1, 2019 filing
  • No longer listedBOLAND, JOHN, THOMAS · PRESIDENT · 50–75% · control person · listed since Jan 2004
  • AddedROPER, HILARY, THOMPSON · SHAREHOLDER · 5–10%
  • ChangedKILLORAN, STEVEN, LAWRENCE · ownership Less than 5% → 5–10%
  • ChangedLUHR, RAMSEY, A · title SECRETARY/TREASURER → PRESIDENT / SHAREHOLDER; ownership 50–75% → 75% or more
  • ChangedPEMBERTON, EVAN, ISAIAH · title VICE PRESIDENT & CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER / SHAREHOLDER
Mar 27, 2018 filing
  • AddedESCOTT, TIMOTHY, CHARLES · PORTFOLIO MANAGER / SHAREHOLDER · Less than 5%
Mar 31, 2017 filing
  • AddedLEWIS, ELIZABETH, SARAH HINCHLIFFE · PORTFOLIO MANAGER / SHAREHOLDER · Less than 5% · control person
Mar 27, 2015 filing
  • No longer listedBEHNKE, CRAIG · EQUITY ANALYST & SHAREHOLDER · Less than 5% · listed since Jan 2014
  • AddedPEMBERTON, EVAN, ISAIAH · VICE PRESIDENT & CHIEF COMPLIANCE OFFICER · Less than 5%
  • ChangedBOLAND, JOHN, THOMAS · title PRESIDENT, CHIEF COMPLIANCE OFFICER → PRESIDENT
Older changes (2 more filings)
Mar 26, 2014 filing
  • AddedBEHNKE, CRAIG · EQUITY ANALYST & SHAREHOLDER · Less than 5%
  • AddedKILLORAN, STEVEN, LAWRENCE · VICE PRESIDENT & SHAREHOLDER · Less than 5%
Mar 20, 2012 filing (earliest on record)
  • ListedBOLAND, JOHN, THOMAS · PRESIDENT, CHIEF COMPLIANCE OFFICER · 50–75% · control person
  • ListedLUHR, RAMSEY, A · SECRETARY/TREASURER · 50–75% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 21 →

Top Trims

Show all 60 →

New Positions

Show all 8 →

Exited Positions

Show all 9 →

Maple Capital Management, Inc. Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 APPLE INC AAPL 037833100 $168.7M 9.95% 506,606 SH
2 NVIDIA CORPORATION NVDA 67066G104 $145.6M 8.58% 637,396 SH
3 ALPHABET INC GOOG 02079K107 $129.0M 7.61% 378,620 SH
4 MICROSOFT CORP MSFT 594918104 $128.3M 7.56% 250,184 SH
5 AMAZON COM INC AMZN 023135106 $103.4M 6.10% 415,061 SH
6 META PLATFORMS INC META 30303M102 $70.4M 4.15% 97,093 SH
7 TEXAS INSTRS INC TXN 882508104 $64.4M 3.80% 230,061 SH
8 COSTCO WHOLESALE CORPORATION COST 22160K105 $56.5M 3.33% 62,012 SH
9 ELI LILLY & CO LLY 532457108 $54.1M 3.19% 46,744 SH
10 ISHARES TR IJR 464287804 $51.9M 3.06% 381,716 SH
11 JPMORGAN CHASE & CO JPM 46625H100 $50.0M 2.95% 151,245 SH
12 APPLIED MATLS INC AMAT 038222105 $48.7M 2.87% 95,248 SH
13 JOHNSON & JOHNSON JNJ 478160104 $44.2M 2.61% 166,950 SH
14 MASTERCARD INCORPORATED MA 57636Q104 $43.9M 2.59% 79,597 SH
15 CHEVRON CORPORATION CVX 166764100 $35.8M 2.11% 175,251 SH
16 ISHARES INC IEMG 46434G103 $33.5M 1.98% 412,870 SH
17 BROADCOM INC AVGO 11135F101 $32.1M 1.89% 91,472 SH
18 MORGAN STANLEY MS 617446448 $31.7M 1.87% 168,362 SH
19 TJX COS INC NEW TJX 872540109 $29.0M 1.71% 219,098 SH
20 GE AEROSPACE GE 369604301 $27.3M 1.61% 87,420 SH
21 HOME DEPOT INC HD 437076102 $23.1M 1.36% 81,242 SH
22 AIR PRODUCTS AND CHEMICALS I APD 009158106 $20.8M 1.22% 74,673 SH
23 AMERICAN EXPRESS CO AXP 025816109 $20.3M 1.19% 66,621 SH
24 INTUITIVE SURGICAL INC ISRG 46120E602 $18.8M 1.11% 46,331 SH
25 TAIWAN SEMICONDUCTOR MANUFAC TSM 874039100 $16.8M 0.99% 36,900 SH
26 S&P GLOBAL INC SPGI 78409V104 $16.4M 0.97% 41,619 SH
27 CME GROUP INC CME 12572Q105 $16.1M 0.95% 61,528 SH
28 ABBOTT LABORATORIES ABT 002824100 $16.1M 0.95% 162,797 SH
29 HONEYWELL INTL INC HON 438516205 $16.0M 0.95% 76,055 SH
30 COLGATE PALMOLIVE CO CL 194162103 $15.4M 0.91% 181,020 SH
31 ECOLAB INC ECL 278865100 $12.6M 0.74% 45,806 SH
32 GE VERNOVA INC GEV 36828A101 $11.9M 0.70% 12,517 SH
33 HONEYWELL AEROSPACE INC HONA 43849R105 $11.8M 0.70% 76,275 SH
34 CHIPOTLE MEXICAN GRILL INC CMG 169656105 $11.7M 0.69% 366,864 SH
35 ARM HOLDINGS PLC ARM 042068205 $11.3M 0.67% 39,081 SH
36 TESLA INC TSLA 88160R101 $10.5M 0.62% 29,687 SH
37 UBER TECHNOLOGIES INC UBER 90353T100 $8.4M 0.49% 122,311 SH
38 NETFLIX INC. NFLX 64110L106 $8.3M 0.49% 119,636 SH
39 MSCI INC MSCI 55354G100 $7.5M 0.44% 13,997 SH
40 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $7.2M 0.43% 9,503 SH
41 FIDELITY MERRIMACK STR TR FBND 316188309 $4.9M 0.29% 112,980 SH
42 ZOETIS INC ZTS 98978V103 $3.7M 0.22% 52,991 SH
43 SPDR SERIES TRUST SPYM 78464A854 $3.6M 0.21% 40,500 SH
44 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $2.7M 0.16% 5,423 SH
45 ALPHABET INC GOOGL 02079K305 $2.7M 0.16% 7,793 SH
46 ISHARES TR EFA 464287465 $2.6M 0.16% 25,339 SH
47 EXXONMOBIL HOLDINGS CORP XOM 30233Q108 $2.4M 0.14% 14,940 SH
48 ISHARES TR IVV 464287200 $2.4M 0.14% 3,174 SH
49 ISHARES TR IJH 464287507 $2.0M 0.12% 27,577 SH
50 CORNING INC GLW 219350105 $1.8M 0.11% 11,907 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-02 $1.70B 129 0001313893-26-000008
2026-06-30 2026-08-13 $1.68B 130 0001313893-26-000005
2026-03-31 2026-05-08 $1.49B 119 0001313893-26-000004
2025-12-31 2026-02-03 $1.59B 116 0001313893-26-000001
Filer Information
Address
535 STONE CUTTER'S WAY
MONTPELIER, VT 05602
Phone
(802) 229-2838
Filing Manager
Maple Capital Management, Inc.
MONTPELIER, VT
Signatory
Rick Bowers
Operations and Compliance Manager