Top Institutional Investors

MARYLAND CAPITAL ADVISORS INC. — 13F Holdings & Portfolio

CIK 1891201 · latest 13F-HR filed 2026-10-15

Backtest portfolio

MARYLAND CAPITAL ADVISORS INC. manages $319.4M in 13F-reported U.S. long-equity assets across 1,152 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are IGSB (23.99%), DFAU (6.51%), VTI (6.37%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 51 new positions and exited 45; 238 existing positions rose in reported value and 493 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.

Loading holdings…
AUM
$319.4M

Long-equity book

Holdings
1,152

Distinct positions

Period
2026-09-30

Filed 2026-10-15

Q/Q Activity
+51 / −45 / ↑238 / ↓493

vs 2026-06-30

Portfolio charts

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

Portfolio map

Q3 26
IGSB24.0% · +9%DFAU6.5% · +5%VTI6.4% · +0%VCSH6.1% · -0%DFLV4.7% · +3%AAPL4.3% · -6%VTV4.2% · -2%DFIV4.0% · +1%DFAI2.8% · +0%ISTB2.6% · +11%DFNM2.1% · -0%DFAT1.8% · +1%EFV1.8% · -2%DFEV1.7% · +0%VTIP1.4% · +3%EMXC1.3% · -2%DFAS1.2% · +3%DFAR1.2% · +1%IWF1.0% · 0%DISV1.0% · +1%DFUS1.0% · 0%VNQI0.9% · +2%VEA0.9% · -2%VBR0.9% · -0%IWD0.7% · 0%DFSD0.7% · 0%DUHP0.7% · +4%DFIS0.6% · +1%VB0.6% · -2%NVDA0.6% · 0%IYW0.6% · 0%EWX0.5% · +1%VNQ0.5% · -0%WMT0.5% · 0%IUSV0.5% · +0%VYMI0.5% · 0%AVGO0.3% · 0%VOO0.3% · +1%BRK.B0.3% · 0%SPY0.3% · +52%SUB0.3% · 0%CVX0.2% · +1%DIHP0.2% · +8%MGK0.2% · 0%VIG0.2% · 0%IWP0.2% · 0%ICSH0.2% · 0%DEHP0.2% · 0%EEM0.2% · 0%EDIV0.2% · 0%MSFT0.2% · -14%VWO0.1% · 0%IEMG0.1% · -3%VSS0.1% · 0%IFGL0.1% · 0%XOM0.1% · 0%IBDR0.1% · -23%JNJ0.1% · +4%MRK0.1% · 0%DFUV0.1% · 0%

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 = 65.6%

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

Firm Profile & Key People

As of the firm’s regulatory filing dated Oct 21, 2022.

Assets Under Management
$2.45B
Discretionary
$2.45B
Employees
21
Accounts
2,679
Address
210 ALLEGHENY AVE
FOURTH FLOOR
TOWSON, MD 21204
Phone
(410) 547-2666
Website
Name Title / Status Ownership Type
BLAIR, JOHN, FLEMING ControlPRINCIPAL
since Nov 2004
50–75%Individual
HEARD, GREGORY, GLEN ControlPRINCIPAL
since Nov 2004
25–50%Individual
CAPLES, JEFFREY, LARKINPRINCIPAL
since Jan 2020
10–25%Individual
DIRZUWEIT, LENEE, BETHCHIEF COMPLIANCE OFFICER
since Apr 2020
Less than 5%Individual
PETRELLI, NICHOLAS, N.PRINCIPAL
since Jan 2021
5–10%Individual
Ownership & leadership changes · 7 filings with changes since Feb 15, 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.

Mar 12, 2021 filing
  • AddedPETRELLI, NICHOLAS, N. · PRINCIPAL · 5–10%
Jul 22, 2020 filing
  • AddedDIRZUWEIT, LENEE, BETH · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ChangedCAPLES, JEFFREY, LARKIN · title PRINCIPAL, CHIEF COMPLIANCE OFFICER → PRINCIPAL
Feb 25, 2020 filing
  • ChangedCAPLES, JEFFREY, LARKIN · title PORTFOLIO MANAGER, SVP, CHIEF COMPLIANCE OFFICER → PRINCIPAL, CHIEF COMPLIANCE OFFICER; ownership Less than 5% → 10–25%
Jan 31, 2020 filing
  • No longer listedPUMPHREY, SHANDY, CARROLL · CCO/CFO · Less than 5% · listed since Mar 2010
  • Listed againCAPLES, JEFFREY, LARKIN · PORTFOLIO MANAGER, SVP, CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 25, 2019 filing
  • No longer listedALLNER, FREDERICK, ABELS · PRINCIPAL · 25–50% · control person · listed since Nov 2004
  • ChangedBLAIR, JOHN, FLEMING · ownership 25–50% → 50–75%
Mar 29, 2016 filing
  • ChangedPUMPHREY, SHANDY, CARROLL · title CHIEF COMPLIANCE OFFICER → CCO/CFO
Dec 20, 2013 filing
  • No longer listedCAPLES, JEFFREY, LARKIN · PORTFOLIO MANAGER · Less than 5% · listed since Jun 2009
  • No longer listedSCHULER, STEPHEN, BRUCE · PRESIDENT · 25–50% · control person · listed since Oct 1999
  • ChangedALLNER, FREDERICK, ABELS · ownership 10–25% → 25–50%
  • ChangedHEARD, GREGORY, GLEN · ownership 10–25% → 25–50%
Feb 15, 2012 filing (earliest on record)
  • ListedALLNER, FREDERICK, ABELS · PRINCIPAL · 10–25% · control person
  • ListedBLAIR, JOHN, FLEMING · PRINCIPAL · 25–50% · control person
  • ListedCAPLES, JEFFREY, LARKIN · PORTFOLIO MANAGER · Less than 5%
  • ListedHEARD, GREGORY, GLEN · PRINCIPAL · 10–25% · control person
  • ListedPUMPHREY, SHANDY, CARROLL · CHIEF COMPLIANCE OFFICER · Less than 5%
  • ListedSCHULER, STEPHEN, BRUCE · PRESIDENT · 25–50% · 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.

MARYLAND CAPITAL ADVISORS 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 ISHARES TR IGSB 464288646 $76.6M 23.99% 1,495,178 SH
2 DIMENSIONAL ETF TRUST DFAU 25434V104 $20.8M 6.51% 397,312 SH
3 VANGUARD INDEX FDS VTI 922908769 $20.4M 6.37% 54,388 SH
4 VANGUARD SCOTTSDALE FDS VCSH 92206C409 $19.6M 6.14% 253,962 SH
5 DIMENSIONAL ETF TRUST DFLV 25434V666 $15.1M 4.73% 376,013 SH
6 APPLE INC AAPL 037833100 $13.8M 4.32% 41,430 SH
7 VANGUARD INDEX FDS VTV 922908744 $13.3M 4.18% 61,781 SH
8 DIMENSIONAL ETF TRUST DFIV 25434V807 $12.8M 4.00% 228,670 SH
9 DIMENSIONAL ETF TRUST DFAI 25434V203 $8.9M 2.79% 215,013 SH
10 ISHARES TR ISTB 46432F859 $8.3M 2.60% 176,015 SH
11 DIMENSIONAL ETF TRUST DFNM 25434V849 $6.9M 2.15% 148,844 SH
12 DIMENSIONAL ETF TRUST DFAT 25434V609 $5.7M 1.78% 85,594 SH
13 ISHARES TR EFV 464288877 $5.7M 1.78% 71,801 SH
14 DIMENSIONAL ETF TRUST DFEV 25434V740 $5.3M 1.67% 125,584 SH
15 VANGUARD MALVERN FDS VTIP 922020805 $4.5M 1.40% 90,989 SH
16 ISHARES INC EMXC 46434G764 $4.1M 1.29% 41,624 SH
17 DIMENSIONAL ETF TRUST DFAS 25434V500 $4.0M 1.25% 51,367 SH
18 DFA INVT DIMENSIONS GROUP IN DFAR 25239Y147 $3.8M 1.20% 159,249 SH
19 ISHARES TR IWF 464287614 $3.3M 1.02% 26,116 SH
20 DIMENSIONAL ETF TRUST DISV 25434V781 $3.2M 1.00% 74,044 SH
21 DIMENSIONAL ETF TRUST DFUS 25434V401 $3.1M 0.98% 37,731 SH
22 VANGUARD INTL EQUITY INDEX F VNQI 922042676 $3.0M 0.94% 70,714 SH
23 VANGUARD TAX-MANAGED FDS VEA 921943858 $2.9M 0.92% 41,657 SH
24 VANGUARD INDEX FDS VBR 922908611 $2.8M 0.87% 11,972 SH
25 ISHARES TR IWD 464287598 $2.2M 0.70% 8,957 SH
26 DIMENSIONAL ETF TRUST DFSD 25434V864 $2.2M 0.68% 46,962 SH
27 DFA INVT DIMENSIONS GROUP IN DUHP 25239Y196 $2.1M 0.67% 51,078 SH
28 DIMENSIONAL ETF TRUST DFIS 25434V773 $2.1M 0.65% 57,241 SH
29 VANGUARD INDEX FDS VB 922908751 $1.9M 0.59% 6,618 SH
30 NVIDIA CORPORATION NVDA 67066G104 $1.8M 0.57% 7,992 SH
31 ISHARES TR IYW 464287721 $1.8M 0.55% 6,680 SH
32 SPDR INDEX SHS FDS EWX 78463X756 $1.7M 0.53% 23,858 SH
33 VANGUARD INDEX FDS VNQ 922908553 $1.6M 0.49% 17,613 SH
34 WALMART INC WMT 931142103 $1.5M 0.47% 14,378 SH
35 ISHARES TR IUSV 464287663 $1.4M 0.45% 13,080 SH
36 VANGUARD WHITEHALL FDS VYMI 921946794 $1.4M 0.45% 14,197 SH
37 BROADCOM INC AVGO 11135F101 $1.0M 0.33% 2,977 SH
38 VANGUARD INDEX FDS VOO 922908363 $1.0M 0.32% 1,470 SH
39 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $1.0M 0.32% 2,058 SH
40 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $994.5K 0.31% 1,304 SH
41 ISHARES TR SUB 464288158 $805.7K 0.25% 7,707 SH
42 CHEVRON CORPORATION CVX 166764100 $797.6K 0.25% 3,906 SH
43 DIMENSIONAL ETF TRUST DIHP 25434V765 $793.5K 0.25% 23,552 SH
44 VANGUARD WORLD FD MGK 921910816 $727.3K 0.23% 7,850 SH
45 VANGUARD SPECIALIZED FUNDS VIG 921908844 $700.5K 0.22% 3,002 SH
46 ISHARES TR IWP 464287481 $640.2K 0.20% 4,650 SH
47 ISHARES TR ICSH 46434V878 $567.0K 0.18% 11,250 SH
48 DIMENSIONAL ETF TRUST DEHP 25434V757 $532.6K 0.17% 12,945 SH
49 ISHARES TR EEM 464287234 $497.3K 0.16% 7,445 SH
50 SPDR INDEX SHS FDS EDIV 78463X533 $491.2K 0.15% 12,231 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-15 $319.4M 1,152 0001891201-26-000005
2026-06-30 2026-07-17 $312.0M 1,145 0001891201-26-000003
2025-12-31 2026-01-20 $295.5M 271 0001891201-26-000001
2025-09-30 2025-10-17 $279.4M 254 0001891201-25-000005
Filer Information
Address
7 CHESTER PLAZA
CHESTER, MD 21619
Phone
(410) 604-2741
Filing Manager
MARYLAND CAPITAL ADVISORS INC.
CHESTER, MD
Signatory
MIKE DAMAS
PRESIDENT AND CHIEF COMPLIANCE OFFICER