Tufton Capital Management
Sector Allocation
- Technology28.3%$164.8M
- Healthcare13.9%$81.2M
- Industrials13.0%$75.7M
- Financials11.6%$67.8M
- Consumer Staples8.1%$47.4M
- Consumer Discretionary6.2%$35.9M
- Energy5.8%$33.8M
- Other5.5%$31.8M
- Materials4.0%$23.4M
- Real Estate1.4%$8.2M
AUM History
13fpro.ai/research/fund/tufton-capital-management-1055963
Conviction and streaks
Diversifying · top 10 = 36.9%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q3 2026
MSFT
$36.8MAAPL
$30.6MGOOG
$27.6MJPM
$21.8MGLW
$21.3MCAT
$17.3MAMZN
$16.5MTJX
$15.3MMRK
$14.1MJNJ
$14.0MABBV
$13.8MXOM.R34088
$13.2MRTX
$12.7MADP
$12.7MCVX
$12.5MBAC
$12.0MQCOM
$11.6MEMR
$10.9MCB
$10.6MTSM
$10.5M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/tufton-capital-management-1055963
Tufton Capital Management 13F holdings — Q3 2026
$583.4M portfolio (-2.1% QoQ) · 131 holdings · Q3 2026 13F · top 10 are 37% of the stock portfolio
$36.8M
6.3% of stocks
-1%This quarter+0.1%Since filed11+ qtrsHeld$30.6M
5.3% of stocks
-1%This quarter+1.3%Since filed11+ qtrsHeld$27.6M
4.7% of stocks
-2%This quarter-6.6%Since filed11+ qtrsHeld$21.8M
3.7% of stocks
-6%This quarter-0.4%Since filed11+ qtrsHeldAIQuality71.8#170Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 4 qtrs in a row$21.3M
3.6% of stocks
-4%This quarter-3.4%Since filed11+ qtrsHeld$17.3M
3.0% of stocks
-2%This quarter-4.6%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$16.5M
2.8% of stocks
-1%This quarter-5.2%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$15.3M
2.6% of stocks
-0.9%This quarter-2.2%Since filed11+ qtrsHeld$14.1M
2.4% of stocks
-1%This quarter-5.2%Since filed11+ qtrsHeld$14.0M
2.4% of stocks
-0.9%This quarter+2.7%Since filed11+ qtrsHeld
All holdings — Tufton Capital Management (Q3 2026)
131 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | AbbVie Inc. | Healthcare | $13.8M | 2.4% | 53K | -1% | 11+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | EXXON MOBIL CORP | Energy | $13.2M | 2.3% | 81K | -0.9% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | RTX Corp | Industrials | $12.7M | 2.2% | 69K | -1% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | AUTOMATIC DATA PROCESSING INC | Technology | $12.7M | 2.2% | 49K | -1% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | CHEVRON CORP | Energy | $12.5M | 2.1% | 61K | -0.9% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | BANK OF AMERICA CORP /DE/ | Financials | $12.0M | 2.1% | 221K | -1% | 11+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | QUALCOMM INC/DE | Technology | $11.6M | 2.0% | 63K | -0.7% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | EMERSON ELECTRIC CO | Industrials | $10.9M | 1.9% | 70K | -0.5% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Chubb Ltd | Financials | $10.6M | 1.8% | 33K | -0.8% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Technology | $10.5M | 1.8% | 23K | -3% | 11+ qtrsTrimmed 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | NORFOLK SOUTHERN CORP | Industrials | $10.1M | 1.7% | 33K | -0.8% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | TARGET CORP | Consumer Staples | $9.9M | 1.7% | 63K | -0.6% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | LOCKHEED MARTIN CORP | Industrials | $9.2M | 1.6% | 18K | -0.4% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | WELLS FARGO & COMPANY/MN | Financials | $9.2M | 1.6% | 115K | -0.6% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | PROCTER & GAMBLE Co | Consumer Staples | $9.0M | 1.5% | 62K | -1% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $PM | Philip Morris International Inc. | Consumer Staples | $7.5M | 1.3% | 39K | -0.5% | |||
| 27 | $NXPI | NXP Semiconductors N.V. | Technology | $7.5M | 1.3% | 31K | -0.4% | |||
| 28 | $GOOGL | Alphabet Inc. | Technology | $7.0M | 1.2% | 20K | -1% | |||
| 29 | $DLR | DIGITAL REALTY TRUST, INC. | Real Estate | $6.8M | 1.2% | 38K | -0.7% | |||
| 30 | $ABT | ABBOTT LABORATORIES | Healthcare | $6.7M | 1.1% | 68K | -0.5% | |||
| 31 | $LLY | ELI LILLY & Co | Healthcare | $6.6M | 1.1% | 5,698 | -0.5% | |||
| 32 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $5.8M | 1.0% | 26K | -0.2% | |||
| 33 | $MDLZ | Mondelez International, Inc. | Consumer Staples | $5.8M | 1.0% | 100K | -1% | |||
| 34 | — | ISHARES TR CORE S&P500 ETF - COM | — | $5.7M | 1.0% | 7,456 | +0.1% | |||
| 35 | $DHR | DANAHER CORP /DE/ | Healthcare | $5.5M | 0.9% | 25K | -8% | |||
| 36 | $MDT | Medtronic plc | Healthcare | $5.3M | 0.9% | 61K | -1% | |||
| 37 | $KO | COCA COLA CO | Consumer Staples | $5.1M | 0.9% | 60K | -0.2% | |||
| 38 | $INTC | INTEL CORP | Technology | $4.9M | 0.8% | 41K | -2% | |||
| 39 | $MMM | 3M CO | Healthcare | $4.9M | 0.8% | 30K | -0.4% | |||
| 40 | $CARR | CARRIER GLOBAL Corp | Industrials | $4.8M | 0.8% | 88K | -0.7% | |||
| 41 | $DUK | Duke Energy CORP | Utilities | $4.8M | 0.8% | 42K | -0.5% | |||
| 42 | $UPS | UNITED PARCEL SERVICE INC | Industrials | $4.5M | 0.8% | 48K | +1% | |||
| 43 | — | STATE STR SPDR DOW JONES INDL - COM | — | $4.1M | 0.7% | 8,018 | -4% | |||
| 44 | $BMY | BRISTOL MYERS SQUIBB CO | Healthcare | $4.0M | 0.7% | 64K | -0.2% | |||
| 45 | $DIS | Walt Disney Co | Communication Services | $3.8M | 0.7% | 36K | +0.2% | |||
| 46 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $3.7M | 0.6% | 7,364 | — | |||
| 47 | $VZ | VERIZON COMMUNICATIONS INC | Communication Services | $3.7M | 0.6% | 80K | -1% | |||
| 48 | $PEP | PEPSICO INC | Consumer Staples | $3.6M | 0.6% | 28K | -3% | |||
| 49 | $CSCO | CISCO SYSTEMS, INC. | Technology | $3.5M | 0.6% | 32K | -9% | |||
| 50 | $COF | CAPITAL ONE FINANCIAL CORP | Financials | $3.4M | 0.6% | 18K | -0.5% | |||
| 51 | $CPK | CHESAPEAKE UTILITIES CORP | Energy | $3.3M | 0.6% | 25K | — | |||
| 52 | $ZTS | Zoetis Inc. | Healthcare | $3.3M | 0.6% | 47K | +7% | |||
| 53 | $SPY | SPDR S&P 500 ETF TRUST | — | $3.2M | 0.6% | 4,201 | +0.9% | |||
| 54 | $EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | Energy | $2.9M | 0.5% | 82K | -0.5% | |||
| 55 | — | VANGUARD INTL FD FTSE DEVELOPE - INT | — | $2.2M | 0.4% | 31K | +15% | |||
| 56 | $PNC | PNC FINANCIAL SERVICES GROUP, INC. | Financials | $2.0M | 0.3% | 9,070 | -0.1% | |||
| 57 | $CL | COLGATE PALMOLIVE CO | Consumer Staples | $1.9M | 0.3% | 23K | -0.3% | |||
| 58 | $COST | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $1.9M | 0.3% | 2,074 | -8% | |||
| 59 | — | ISHARES TR CORE MSCI EAFE - INT | — | $1.8M | 0.3% | 19K | -0.2% | |||
| 60 | $Q | Qnity Electronics, Inc. | Technology | $1.8M | 0.3% | 15K | -1% | |||
| 61 | — | VANGUARD INTL EQUITY INDEX FDS - INT | — | $1.8M | 0.3% | 30K | +11% | |||
| 62 | $DE | DEERE & CO | Industrials | $1.7M | 0.3% | 2,575 | -0.3% | |||
| 63 | $ELV | Elevance Health, Inc. | Healthcare | $1.6M | 0.3% | 4,124 | New | |||
| 64 | — | SPDR SERIES TRUST STATE STREET - COM | — | $1.6M | 0.3% | 11K | — | |||
| 65 | $META | Meta Platforms, Inc. | Technology | $1.5M | 0.3% | 2,098 | -3% | |||
| 66 | $NVDA | NVIDIA CORP | Technology | $1.4M | 0.3% | 6,320 | -6% | |||
| 67 | $CCI | CROWN CASTLE INC. | Real Estate | $1.4M | 0.2% | 21K | -56% | |||
| 68 | $AXP | AMERICAN EXPRESS CO | Financials | $1.4M | 0.2% | 4,445 | — | |||
| 69 | — | ISHARES TR CORE S&P MCP ETF - COM | — | $1.3M | 0.2% | 18K | -0.1% | |||
| 70 | $DD | DuPont de Nemours, Inc. | Materials | $1.2M | 0.2% | 9,419 | -2% | |||
| 71 | $MKC | MCCORMICK & CO INC | Consumer Staples | $1.2M | 0.2% | 25K | -3% | |||
| 72 | — | ISHARES TR CORE S&P SCP ETF - COM | — | $1.1M | 0.2% | 7,995 | +0.1% | |||
| 73 | $NKE | NIKE, Inc. | Consumer Discretionary | $1.1M | 0.2% | 30K | -27% | |||
| 74 | $SYY | SYSCO CORP | Consumer Discretionary | $1.1M | 0.2% | 14K | -0.9% | |||
| 75 | — | VANGUARD INDEX FDS S&P 500 ETF - COM | — | $1.0M | 0.2% | 1,453 | +41% | |||
| 76 | $ARM | ARM HOLDINGS PLC /UK | Technology | $984K | 0.2% | 3,399 | -7% | |||
| 77 | $SLB | SLB LIMITED/NV | Energy | $978K | 0.2% | 20K | — | |||
| 78 | $V | VISA INC. | Financials | $960K | 0.2% | 2,674 | — | |||
| 79 | — | ISHARES INC CORE MSCI EMKT - INT | — | $956K | 0.2% | 12K | -0.1% | |||
| 80 | — | ISHARES TR EXPND TEC SC ETF - COM | — | $942K | 0.2% | 5,575 | — | |||
| 81 | $OTIS | Otis Worldwide Corp | Industrials | $900K | 0.1% | 14K | -2% | |||
| 82 | $CMG | CHIPOTLE MEXICAN GRILL INC | Consumer Discretionary | $875K | 0.1% | 27K | -4% | |||
| 83 | — | DIMENSIONAL ETF TRUST US CORE - COM | — | $807K | 0.1% | 18K | +47% | |||
| 84 | $GE | GENERAL ELECTRIC CO | Industrials | $765K | 0.1% | 2,449 | -0.0% | |||
| 85 | $NEE | NEXTERA ENERGY INC | Utilities | $714K | 0.1% | 9,438 | — | |||
| 86 | $WMT | Walmart Inc. | Consumer Staples | $697K | 0.1% | 6,714 | -1% | |||
| 87 | $UNP | UNION PACIFIC CORP | Industrials | $658K | 0.1% | 2,421 | — | |||
| 88 | $MO | ALTRIA GROUP, INC. | Consumer Staples | $638K | 0.1% | 9,489 | +2% | |||
| 89 | $OXY | OCCIDENTAL PETROLEUM CORP /DE/ | Energy | $611K | 0.1% | 11K | -0.7% | |||
| 90 | $GEV | GE Vernova Inc. | Industrials | $599K | 0.1% | 630 | -0.2% | |||
| 91 | — | ISHARES TR MSCI USA MOMENTUM F - COM | — | $583K | 0.1% | 1,838 | +62% | |||
| 92 | $ETN | Eaton Corp plc | Industrials | $573K | 0.1% | 1,334 | — | |||
| 93 | — | SELECT SECTOR SPDR TR STATE ST - COM | — | $568K | 0.1% | 2,906 | — | |||
| 94 | $TROW | PRICE T ROWE GROUP INC | Financials | $561K | 0.1% | 5,396 | -15% | |||
| 95 | — | DIMENSIONAL ETF TR US MARKETWI - COM | — | $546K | 0.1% | 9,937 | +63% | |||
| 96 | $LOW | LOWES COMPANIES INC | Consumer Discretionary | $540K | 0.1% | 2,935 | — | |||
| 97 | $CSX | CSX CORP | Industrials | $514K | 0.1% | 11K | — | |||
| 98 | $WRB | BERKLEY W R CORP | Financials | $498K | 0.1% | 7,385 | New | |||
| 99 | $QQQ | INVESCO QQQ TRUST, SERIES 1 | — | $480K | 0.1% | 649 | — | |||
| 100 | $NFLX | NETFLIX INC | Communication Services | $472K | 0.1% | 6,790 | -3% | |||
| 101 | — | DIMENSIONAL ETF TRUST INTL COR - INT | — | $455K | 0.1% | 12K | +47% | |||
| 102 | $DOW | DOW INC. | Materials | $442K | 0.1% | 16K | -0.5% | |||
| 103 | $ISRG | INTUITIVE SURGICAL INC | Healthcare | $441K | 0.1% | 1,085 | -4% | |||
| 104 | $GS | GOLDMAN SACHS GROUP INC | Financials | $423K | 0.1% | 470 | -1% | |||
| 105 | — | DIMENSIONAL ETF TRUST US HIGH - COM | — | $421K | 0.1% | 10K | +30% | |||
| 106 | $APD | Air Products & Chemicals, Inc. | Materials | $420K | 0.1% | 1,510 | — | |||
| 107 | $PINS | PINTEREST, INC. | Technology | $419K | 0.1% | 22K | -8% | |||
| 108 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $388K | 0.1% | 1,364 | — | |||
| 109 | $BSX | BOSTON SCIENTIFIC CORP | Healthcare | $367K | 0.1% | 8,427 | -3% | |||
| 110 | — | DIMENSIONAL ETF TRUST INTERNAT - INT | — | $337K | 0.1% | 6,047 | +41% | |||
| 111 | — | ISHARES TR MSCI INTL MOMENTUM - INT | — | $326K | 0.1% | 6,205 | New | |||
| 112 | — | AMERICAN CENTY ETF TR AVANTIS - INT | — | $317K | 0.1% | 3,378 | +42% | |||
| 113 | — | AMERICAN CENTY ETF TR AVANTIS - COM | — | $314K | 0.1% | 4,554 | New | |||
| 114 | $BA | BOEING CO | Industrials | $304K | 0.1% | 1,636 | -4% | |||
| 115 | $SHEL | Shell plc | Energy | $302K | 0.1% | 3,178 | — | |||
| 116 | $BLK | BlackRock, Inc. | Financials | $287K | 0.1% | 272 | -4% | |||
| 117 | — | VANGUARD INTL EQUITY INDEX FDS - INT | — | $271K | 0.1% | 3,270 | — | |||
| 118 | $FMAO | FARMERS & MERCHANTS BANCORP INC | Financials | $270K | 0.1% | 7,800 | — | |||
| 119 | — | DIMENSIONAL ETF TR DIMENSIONAL - INT | — | $268K | 0.1% | 7,958 | New | |||
| 120 | — | VANGUARD INDEX FDS VANGUARD SM - COM | — | $265K | 0.1% | 934 | New | |||
| 121 | $SYK | STRYKER CORP | Healthcare | $262K | 0.0% | 955 | — | |||
| 122 | $UNH | UNITEDHEALTH GROUP INC | Healthcare | $238K | 0.0% | 650 | — | |||
| 123 | $AMP | AMERIPRISE FINANCIAL INC | Financials | $224K | 0.0% | 455 | — | |||
| 124 | $GLD | SPDR GOLD TRUST | Financials | $211K | 0.0% | 555 | — | |||
| 125 | $MA | Mastercard Inc | Financials | $209K | 0.0% | 380 | -6% | |||
| 126 | $MDB | MongoDB, Inc. | Technology | $209K | 0.0% | 600 | — | |||
| 127 | $BF-A | BROWN FORMAN CORP | Consumer Staples | $205K | 0.0% | 7,851 | -2% | |||
| 128 | $TSLA | Tesla, Inc. | Consumer Discretionary | $205K | 0.0% | 579 | — | |||
| 129 | — | VANGUARD WORLD FD INF TECH ETF - COM | — | $201K | 0.0% | 1,600 | New | |||
| 130 | $ELUT | ELUTIA INC. | Healthcare | $9K | 0.0% | 12K | -17% | |||
| 131 | — | ECOSPHERE TECHNOLOGIES INC COM - COM | — | $0 | 0.0% | 11K | — |
What changed in Q3 2026
Against the previous quarter's 13F: 7 new, 17 added to, 81 trimmed, 3 sold out. Share-count changes; largest moves by dollar size first.
New positions (7)
$ELVElevance Health, Inc.$1.6M
first bought this quarter
$WRBBERKLEY W R CORP$498K
first bought this quarter
- ISHARES TR MSCI INTL MOMENTUM - INT$326K
first bought this quarter
- AMERICAN CENTY ETF TR AVANTIS - COM$314K
first bought this quarter
- DIMENSIONAL ETF TR DIMENSIONAL - INT$268K
first bought this quarter
- VANGUARD INDEX FDS VANGUARD SM - COM$265K
first bought this quarter
+1 more in the Excel export
Added to (17)
- VANGUARD INDEX FDS S&P 500 ETF - COM+41%
now $1.0M
- VANGUARD INTL FD FTSE DEVELOPE - INT+15%
now $2.2M
- DIMENSIONAL ETF TRUST US CORE - COM+47%
now $807K
- ISHARES TR MSCI USA MOMENTUM F - COM+62%
now $583K
- DIMENSIONAL ETF TR US MARKETWI - COM+63%
now $546K
$ZTSZoetis Inc.+7%
now $3.3M · held 11+ qtrs
+11 more in the Excel export
Trimmed (81)
$CCICROWN CASTLE INC.-56%
now $1.4M · held 11+ qtrs, 4 trims in a row
now $21.8M · held 11+ qtrs, 4 trims in a row
now $21.3M · held 11+ qtrs, 9 trims in a row
now $27.6M · held 11+ qtrs, 3 trims in a row
$DHRDANAHER CORP /DE/-8%
now $5.5M · held 11+ qtrs, 2 trims in a row
now $30.6M · held 11+ qtrs, 3 trims in a row
+75 more in the Excel export
Holdings by quarter
Every 13F Tufton Capital Management has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow Tufton Capital Management?
Q3 2026 13F filed with the SEC on Oct 20, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Tufton Capital Management's top 20 holdings: 71/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
-2.1%
Value-weighted move of the 10 largest stock positions
Turnover
1%
Last quarter; 3% over the last 4
Top 10 weight
37%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
100%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Tufton Capital Management disclosed 131 positions worth $583.4M in its Form 13F-HR for Q3 2026, led by $MSFT (MICROSOFT CORP) at 6.3% of the equity portfolio, followed by $AAPL and $GOOG. During the quarter the fund opened 7 new positions and exited 3 — including a new stake in $ELV and a full exit from $MCD. The portfolio is most concentrated in Technology (28.3% of disclosed assets). All figures are sourced directly from Tufton Capital Management’s Form 13F-HR filing with the SEC under CIK 1055963.
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