# Maryland Capital Management

> Institutional holdings reported to the SEC as of Q3 2022 on Form 13F. CIK 1356643. Source: https://holderbook.com/funds/1356643-maryland-capital-management/

- Reported value: $1.2B
- Positions: 219
- Weight of the ten largest: 37.2%
- Filed: 2022-11-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $73.2M | 529,433 | 6.1% | 16 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $63.8M | 274,004 | 5.3% | 16 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $54.4M | 481,042 | 4.5% | 16 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $52.5M | 104,026 | 4.4% | 16 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $43.7M | 153,692 | 3.6% | 16 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $36.2M | 199,750 | 3.0% | 16 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $35.2M | 367,919 | 2.9% | 16 |
| EPAM SYS INC | [EPAM](https://holderbook.com/stocks/EPAM/) | $32.8M | 90,580 | 2.7% | 16 |
| FIVE BELOW INC | [FIVE](https://holderbook.com/stocks/FIVE/) | $30.4M | 221,127 | 2.5% | 16 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $23.5M | 270,115 | 2.0% | 12 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $23.3M | 281,700 | 1.9% | 5 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $23.3M | 142,437 | 1.9% | 16 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $21.5M | 299,240 | 1.8% | 6 |
| PAYCOM SOFTWARE INC | [PAYC](https://holderbook.com/stocks/PAYC/) | $21.2M | 64,199 | 1.8% | 16 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $19.5M | 202,384 | 1.6% | 16 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $19.2M | 34,892 | 1.6% | 16 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $19.1M | 102,025 | 1.6% | 16 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $18.2M | 211,395 | 1.5% | 16 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $17.9M | 185,019 | 1.5% | 16 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $17.8M | 123,944 | 1.5% | 16 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $16.0M | 169,093 | 1.3% | 16 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $15.8M | 57,323 | 1.3% | 16 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $14.7M | 102,366 | 1.2% | 16 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $14.1M | 105,285 | 1.2% | 16 |
| TREX INC | [TREX](https://holderbook.com/stocks/TREX/) | $14.1M | 320,513 | 1.2% | 16 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $14.0M | 81,829 | 1.2% | 16 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $13.4M | 48,713 | 1.1% | 12 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $13.3M | 139,522 | 1.1% | 13 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $13.1M | 80,314 | 1.1% | 16 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $13.0M | 72,906 | 1.1% | 6 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $12.9M | 102,321 | 1.1% | 16 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $12.9M | 55,735 | 1.1% | 16 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $12.6M | 198,772 | 1.1% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $12.5M | 91,940 | 1.0% | 16 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $11.6M | 30,093 | 1.0% | 16 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $11.6M | 65,289 | 1.0% | 16 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $11.0M | 118,333 | 0.9% | 16 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $10.6M | 279,477 | 0.9% | 16 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $10.5M | 154,385 | 0.9% | 16 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $10.3M | 236,092 | 0.9% | 16 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $10.1M | 335,386 | 0.8% | 16 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $9.7M | 112,477 | 0.8% | 16 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.5M | 90,885 | 0.8% | 16 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $9.4M | 63,558 | 0.8% | 5 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $9.3M | 126,513 | 0.8% | 16 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $8.7M | 24,259 | 0.7% | 16 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $8.6M | 59,216 | 0.7% | 15 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $7.7M | 119,466 | 0.6% | 16 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $7.6M | 209,262 | 0.6% | 16 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $7.1M | 63,059 | 0.6% | 16 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $6.9M | 96,960 | 0.6% | 3 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $6.8M | 36,084 | 0.6% | 16 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $6.7M | 85,490 | 0.6% | 16 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $6.7M | 166,724 | 0.6% | 16 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $6.6M | 82,532 | 0.6% | 16 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $6.6M | 151,006 | 0.5% | 12 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $6.4M | 14,355 | 0.5% | 10 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $6.1M | 22,725 | 0.5% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $5.8M | 66,878 | 0.5% | 16 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $4.9M | 170,488 | 0.4% | 7 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $4.9M | 293,094 | 0.4% | 11 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $4.8M | 48,834 | 0.4% | 9 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.8M | 13,336 | 0.4% | 16 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $4.7M | 10,361 | 0.4% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $4.6M | 39,109 | 0.4% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $4.5M | 123,434 | 0.4% | 16 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $4.4M | 93,681 | 0.4% | 3 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $4.3M | 44,887 | 0.4% | 16 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $4.0M | 22,095 | 0.3% | 9 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $3.1M | 9,694 | 0.3% | 16 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $2.6M | 32,315 | 0.2% | 3 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $2.3M | 8,992 | 0.2% | 16 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $2.3M | 13,787 | 0.2% | 16 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $2.1M | 15,956 | 0.2% | 16 |
| ISHARES TR | [IXC](https://holderbook.com/stocks/IXC/) | $2.1M | 61,699 | 0.2% | 4 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $2.0M | 19,323 | 0.2% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.9M | 6,935 | 0.2% | 16 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.7M | 10,900 | 0.1% | 13 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.7M | 3,509 | 0.1% | 16 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $1.5M | 8,541 | 0.1% | 16 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $1.5M | 12,631 | 0.1% | 16 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $1.5M | 4,791 | 0.1% | 16 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $1.4M | 3,590 | 0.1% | 11 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $1.3M | 8,226 | 0.1% | 16 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.3M | 11,065 | 0.1% | 11 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $1.3M | 30,138 | 0.1% | 2 |
| SPDR SERIES TRUST | [RWR](https://holderbook.com/stocks/RWR/) | $1.3M | 15,650 | 0.1% | 16 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $1.3M | 5,796 | 0.1% | 12 |
| ISHARES TR | [SHV](https://holderbook.com/stocks/SHV/) | $1.2M | 11,197 | 0.1% | 2 |
| ISHARES TR | [IXJ](https://holderbook.com/stocks/IXJ/) | $1.2M | 16,032 | 0.1% | 2 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.2M | 3,163 | 0.1% | 11 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $1.2M | 24,342 | 0.1% | 2 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $1.1M | 13,620 | 0.1% | 16 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $1.1M | 19,142 | 0.1% | 11 |
| ISHARES TR | [JXI](https://holderbook.com/stocks/JXI/) | $1.1M | 20,424 | 0.1% | 2 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $1.1M | 6,951 | 0.1% | 8 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $1.1M | 4,841 | 0.1% | 13 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $1.0M | 12,514 | 0.1% | 11 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $1.0M | 5,540 | 0.1% | 16 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.0M | 16,751 | 0.1% | 16 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2022 | -5.4% | -5.3% | -0.1% | 100% |
| Q2 2022 | -16.8% | -16.5% | -0.3% | 100% |
| Q1 2022 | -13.4% | -4.9% | -8.4% | 100% |
| Q4 2021 | +8.3% | +10.7% | -2.4% | 100% |
| Q3 2021 | +1.3% | +0.3% | +1.0% | 97% |
| Q2 2021 | +10.1% | +8.0% | +2.1% | 100% |
| Q1 2021 | +2.4% | +6.0% | -3.6% | 98% |
| Q4 2020 | +12.2% | +11.6% | +0.5% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2022 | $1.2B | 219 |
| Q2 2022 | $1.3B | 224 |
| Q1 2022 | $1.6B | 243 |
| Q4 2021 | $1.8B | 253 |
| Q3 2021 | $1.7B | 245 |
| Q2 2021 | $1.7B | 255 |
| Q1 2021 | $1.5B | 241 |
| Q4 2020 | $1.4B | 220 |
| Q3 2020 | $1.2B | 206 |
| Q2 2020 | $1.1B | 193 |
| Q1 2020 | $844.7M | 199 |
| Q4 2019 | $941.8M | 178 |