TC
Tufton Capital Management — 13F Portfolio Changes & Top Buys (Q2 2026)
Tufton Capital ManagementCIK: 0001055963
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$596.0M
Reporting period: 2026-06-30 · Number of holdings: 127
Tufton Capital Management disclosed 127 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $596.0M and a quarterly turnover rate of 20.9%.
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Personality snowflake
- Concentration
- 9.39
- Portfolio Stability
- 20.94
- Momentum
- 100
- Sector conviction
- 48.22
- Diversification
- 100
- Sizing Uniformity
- 85.87
Tufton Capital Management's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 43 equally-sized positions, well below its 127 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.41), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out XOM
Add GLW
-11.2% $14.7M
New buy 30233Q108
Add CAT
-9.0% $6.2M
Trim CVX
-5.7% -$3.3M
Add INTC
-27.1% $3.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GLW | Corning Inc | Stock-Tech | 6.16% | +2.16% | -11.18% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.90% | +0.47% | -2.65% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.54% | -0.27% | +1.74% | |
| 4 | AAPL | Apple Inc | Stock-Tech | 4.53% | +0.12% | -2.21% | |
| 5 | CAT | Caterpillar Inc | Stock-Industrials | 3.90% | +0.81% | -9.00% | |
| 6 | JPM | Jpmorgan Chase & Co | Stock-Financials | 3.83% | +0.02% | -1.92% | |
| 7 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 2.97% | -0.50% | -2.24% | |
| 8 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.68% | +0.09% | -2.22% | |
| 9 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.28% | -0.13% | -1.36% | |
| 10 | ABBV | Abbvie Inc | Stock-Healthcare | 2.26% | +0.12% | -1.21% | |
| 11 | RTX | Rtx CORP | Stock-Industrials | 2.20% | -0.25% | -0.93% | |
| 12 | BAC | Bank Of America CORP | Stock-Financials | 2.13% | +0.12% | -1.37% | |
| 13 | MRK | Merck & Co. Inc. | Stock-Healthcare | 2.12% | -0.05% | -0.87% | |
| 14 | QCOM | Qualcomm Inc | Stock-Tech | 1.96% | +0.38% | -5.99% | |
| 15 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.90% | +0.35% | -5.87% | |
| 16 | CB | Chubb Limited | Stock-Financials | 1.89% | -0.09% | -1.11% | |
| 17 | ✓ | Stock-Other | 1.87% | +1.87% | NEW | ||
| 18 | ADP | Automatic Data Processing | Stock-Tech | 1.86% | +0.01% | -1.07% | |
| 19 | NSC | Norfolk Southern CORP | Stock-Industrials | 1.74% | — | -1.27% | |
| 20 | CVX | Chevron CORP | Stock-Energy | 1.72% | -0.75% | -5.65% | |
| 21 | EMR | Emerson Electric Co | Stock-Industrials | 1.70% | — | -1.18% | |
| 22 | WFC | Wells Fargo & Co | Stock-Financials | 1.61% | -0.09% | -1.41% | |
| 23 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.56% | -0.46% | -0.96% | |
| 24 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.53% | -0.12% | -0.93% | |
| 25 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 1.49% | +0.31% | -3.76% | |
| 26 | TGT | Target CORP | Stock-Consumer Disc | 1.40% | -0.02% | -1.06% | |
| 27 | IBM | Intl Business Machines CORP | Stock-Tech | 1.24% | +0.08% | +0.56% | |
| 28 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.23% | +0.12% | -3.61% | |
| 29 | PM | Philip Morris International | Stock-Consumer Staples | 1.20% | +0.01% | -0.22% | |
| 30 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 1.17% | -0.13% | -2.28% | |
| 31 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.15% | +0.18% | -1.50% | |
| 32 | CARR | Carrier Global CORP | Stock-Industrials | 1.09% | +0.17% | -1.66% | |
| 33 | ABT | Abbott Laboratories | Stock-Healthcare | 1.04% | -0.19% | +3.72% | |
| 34 | MDLZ | Mondelez International Inc-a | Stock-Consumer Staples | 0.98% | -0.10% | -1.48% | |
| 35 | INTC | Intel CORP | Stock-Tech | 0.98% | +0.52% | -27.11% | |
| 36 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.94% | +0.05% | -0.71% | |
| 37 | DUK | Duke Energy CORP | Stock-Utilities | 0.90% | -0.11% | +0.25% | |
| 38 | DHR | Danaher CORP | Stock-Healthcare | 0.87% | -0.09% | -2.57% | |
| 39 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.86% | — | -0.97% | |
| 40 | MMM | 3m Co | Stock-Industrials | 0.82% | +0.03% | +0.04% | |
| 41 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.82% | -0.01% | +0.12% | |
| 42 | MDT | Medtronic plc | Stock-Healthcare | 0.81% | -0.20% | -3.90% | |
| 43 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-Large Cap & Growth | 0.73% | +0.02% | -1.23% | |
| 44 | CSCO | Cisco Systems Inc | Stock-Tech | 0.71% | +0.20% | -0.28% | |
| 45 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.66% | -0.17% | -1.47% | |
| 46 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.62% | -0.09% | -0.09% | |
| 47 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.62% | -0.02% | — | |
| 48 | CCI | Crown Castle Inc | Stock-Real Estate | 0.61% | -0.14% | -5.43% | |
| 49 | COF | Capital One Financial CORP | Stock-Financials | 0.60% | — | -1.11% | |
| 50 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.58% | -0.14% | -11.57% |
1–50 of 127
Portfolio Performance
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+22.6%
- Stdev
- +11.2%
- Beta
- +0.81
- Alpha
- +1.2%
- Max Drawdown
- -7.1%
- Annualized Perf
- +18.1%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +2.92
- Stutzer
- +0.44
- Treynor
- +0.21
- Sterling
- +1.19
- Calmar
- +2.54
- Information Ratio
- -0.55
- Tracking Error
- +4.8%
- Stdev Down
- +5.9%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +31.5%
- Worst 12 Months
- +6.1%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.54
- Stdev Sectors
- +8%
- Skewness
- -0.3
- Kurtosis
- -0.28
- Upside Potential
- +4.53
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 127 | $596.0M | 21 | ||
| 2026 Q1 | 126 | $549.7M | 66 | ||
| 2025 Q4 | 122 | $572.1M | 11 | ||
| 2025 Q3 | 118 | $561.0M | 16 | ||
| 2025 Q2 | 118 | $525.9M | 0 | ||
| 2025 Q1 | 120 | $519.2M | 100 | ||
| 2024 Q4 | 120 | $528.7M | 0 | ||
| 2024 Q3 | 121 | $533.4M | 0 | ||
| 2024 Q2 | 119 | $514.2M | 0 | ||
| 2024 Q1 | 118 | $509.2M | 0 | ||
| 2023 Q4 | 123 | $476.7M | 0 | ||
| 2023 Q3 | 120 | $448.2M | 0 | ||
| 2023 Q2 | 120 | $463.5M | 0 | ||
| 2023 Q1 | 119 | $462.4M | 0 | ||
| 2022 Q4 | 115 | $454.5M | 0 | ||
| 2022 Q3 | 112 | $414.3M | 0 | ||
| 2022 Q2 | 113 | $535.3M | 0 | ||
| 2022 Q1 | 126 | $618.7M | 0 | ||
| 2021 Q4 | 132 | $651.3M | 0 | ||
| 2021 Q3 | 125 | $590.8M | 0 | ||
| 2021 Q2 | 127 | $608.9M | 100 | ||
| 2021 Q1 | 129 | $585.3M | 11 | ||
| 2020 Q4 | 123 | $542.3M | 17 | ||
| 2020 Q3 | 118 | $484.0M | 13 | ||
| 2020 Q2 | 113 | $454.1M | 20 | ||
| 2020 Q1 | 108 | $390.1M | 28 | ||
| 2019 Q4 | 120 | $508.1M | 11 | ||
| 2019 Q3 | 120 | $473.9M | 56 | ||
| 2019 Q2 | 125 | $472.9M | 18 | ||
| 2019 Q1 | 123 | $469.5M | 17 | ||
| 2018 Q4 | 119 | $407.6M | 18 | ||
| 2018 Q3 | 124 | $470.1M | 13 | ||
| 2018 Q2 | 122 | $466.3M | 16 | ||
| 2018 Q1 | 126 | $506.8M | 8 | ||
| 2017 Q4 | 129 | $519.1M | 11 | ||
| 2017 Q3 | 133 | $499.9M | 15 | ||
| 2017 Q2 | 127 | $492.8M | 10 | ||
| 2017 Q1 | 125 | $507.5M | 8 | ||
| 2016 Q4 | 110 | $492.9M | 14 | ||
| 2016 Q3 | 108 | $496.0M | 8 | ||
| 2016 Q2 | 106 | $493.9M | 29 | ||
| 2016 Q1 | 100 | $401.7M | 16 | ||
| 2015 Q4 | 104 | $406.4M | 82 | ||
| 2015 Q3 | 106 | $455.1M | 14 | ||
| 2015 Q2 | 114 | $495.0M | 13 | ||
| 2015 Q1 | 124 | $545.6M | 11 | ||
| 2014 Q4 | 126 | $547.3M | 12 | ||
| 2014 Q3 | 124 | $532.4M | 18 | ||
| 2014 Q2 | 123 | $493.5M | 11 | ||
| 2014 Q1 | 122 | $478.4M | 13 | ||
| 2013 Q4 | 120 | $466.9M | 11 | ||
| 2013 Q3 | 119 | $424.3M | 11 | ||
| 2013 Q2 | 118 | $416.4M | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Tufton Capital Management's most significant position changes for 2026-06-30: Sold out: Exxon Mobil CORP (XOM); New buy: ; Sold out: Dupont De Nemours Inc (6D8); New buy: ; Sold out: Elevance Health Inc (ELV).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GLW | Corning Inc | +2.2% | -11.18% | Trim |
| 2 | ✓ | +1.9% | NEW | New buy | |
| 3 | CAT | Caterpillar Inc | +0.8% | -9.00% | Trim |
| 4 | INTC | Intel CORP | +0.5% | -27.11% | Trim |
| 5 | GOOG | Alphabet Inc-cl C | +0.5% | -2.65% | Trim |
| 6 | QCOM | Qualcomm Inc | +0.4% | -5.99% | Trim |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.4% | -5.87% | Trim |
| 8 | NXPI | NXP Semiconductors N.V. | +0.3% | -3.76% | Trim |
| 9 | ✓ | +0.2% | NEW | New buy | |
| 10 | CSCO | Cisco Systems Inc | +0.2% | -0.28% | Trim |
| 11 | LLY | Eli Lilly & Co | +0.2% | -1.50% | Trim |
| 12 | CARR | Carrier Global CORP | +0.2% | -1.66% | Trim |
| 13 | AAPL | Apple Inc | +0.1% | -2.21% | Trim |
| 14 | BAC | Bank Of America CORP | +0.1% | -1.37% | Trim |
| 15 | ABBV | Abbvie Inc | +0.1% | -1.21% | Trim |
| 16 | GOOGL | Alphabet Inc-cl A | +0.1% | -3.61% | Trim |
| 17 | ARM | Arm Holdings Plc-adr | +0.1% | -9.88% | Trim |
| 18 | AMZN | Amazon.com Inc | +0.1% | -2.22% | Trim |
| 19 | IBM | Intl Business Machines CORP | +0.1% | +0.56% | Add |
| 20 | Q | Qnity Electronics Inc | +0.1% | -4.01% | Trim |
| 21 | VEA | Vanguard Ftse Developed ETF | +0.1% | +22.01% | Add |
| 22 | IVV | Ishares Core S&p 500 ETF | +0.1% | -0.71% | Trim |
| 23 | VWO | Vanguard Ftse Emerging Marke | +0.1% | +19.23% | Add |
| 24 | DFIC | Dimensional International Co | +0.1% | NEW | New buy |
| 25 | UNH | Unitedhealth Group Inc | +0.1% | NEW | New buy |
| 26 | DFIV | Dimensional International Va | 0% | NEW | New buy |
| 27 | AVEM | Avantis Emerging Markets Eq | 0% | NEW | New buy |
| 28 | AVGO | Broadcom Inc | 0% | NEW | New buy |
| 29 | MMM | 3m Co | 0% | +0.04% | Add |
| 30 | PNC | Pnc Financial Services Group | 0% | -1.89% | Trim |
| 31 | IGM | Ishares Expanded Tech Sector | 0% | — | Unchanged |
| 32 | VOO | Vanguard S&p 500 ETF | 0% | +28.64% | Add |
| 33 | MDB | Mongodb Inc | 0% | NEW | New buy |
| 34 | MTUM | Ishares Msci USA Momentum Fa | 0% | +25.47% | Add |
| 35 | JPM | Jpmorgan Chase & Co | 0% | -1.92% | Trim |
| 36 | DIA | Ss Spdr Dow Jones Indus Avg | 0% | -1.23% | Trim |
| 37 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -2.12% | Trim |
| 38 | GE | General Electric | 0% | +1.03% | Add |
| 39 | GEV | GE Vernova Inc | 0% | +1.28% | Add |
| 40 | IJR | Ishares Core S&p Small-cap E | 0% | -1.70% | Trim |
| 41 | XLK | Ss Technology Select Sector | 0% | — | Unchanged |
| 42 | DFAC | Dimensional US Core Equity 2 | 0% | +22.56% | Add |
| 43 | QQQ | Invesco Qqq Trust Series 1 | 0% | +5.70% | Add |
| 44 | DFUV | Dimensional US Marketwide Va | 0% | +29.83% | Add |
| 45 | ADP | Automatic Data Processing | 0% | -1.07% | Trim |
| 46 | PM | Philip Morris International | 0% | -0.22% | Trim |
| 47 | DE | Deere & Co | 0% | — | Unchanged |
| 48 | AXP | American Express Co | 0% | — | Unchanged |
| 49 | NVDA | Nvidia CORP | 0% | -1.19% | Trim |
| 50 | IJH | Ishares Core S&p Midcap ETF | 0% | -1.88% | Trim |
1–50 of 134
Filing History
FAQ
What is Tufton Capital Management and what type of investor is it?
Tufton Capital Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $596.0M, spread across 127 disclosed positions.
What are Tufton Capital Management's largest equity positions?
Based on the latest 13F filing, Tufton Capital Management's top holdings by market value are:
1. Corning Inc (GLW) — $36.7M (6.2%)
2. Alphabet Inc-cl C (GOOG) — $29.2M (4.9%)
3. Microsoft CORP (MSFT) — $27.1M (4.5%)
4. Apple Inc (AAPL) — $27.0M (4.5%)
5. Caterpillar Inc (CAT) — $23.2M (3.9%)
What changes did Tufton Capital Management make in its most recent portfolio filing?
In the latest reported quarter, Tufton Capital Management made 112 notable position adjustments: 8 new positions were initiated, 26 existing holdings were added to, 71 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); New buy: ; Sold out: Dupont De Nemours Inc (6D8); New buy: ; Sold out: Elevance Health Inc (ELV)
What sectors does Tufton Capital Management focus on?
Tufton Capital Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 28.6%
• Industrials: 16.3%
• Health Care: 13.0%
• Financials: 12.2%
• Consumer Discretionary: 8.5%
• Communication Services: 8.3%
Investment Profile
Tufton Capital Management returned an annualized 18.1% over the trailing 36 months — outperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.81 (less volatile than the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 21 over the past 4 quarters — a shift toward more active trading.
It has added to its GLW position over the past two quarters (+$20.6M, now $36.7M), while trimming CPK over the same stretch (-$8.7M, still holding $3.1M).
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AF
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G&
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JG
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Developer Access
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REST API
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