Tufton Capital Management

Q4 2025 13F-HR Holdings

Location
Hunt Valley, MD
Holdings as of
12/31/2025
Date filed
1/28/2026
Form type
13F-HR
Num holdings
122
Total value ($000)
$572,082
Net value change ($000)
+11,085 (2.0%)
New positions
6
Sold out positions
2
Turnover %
0.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/31/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 6,007 27.8%
CAT 2,262 19.0%
CPK 2,200 22.9%
MRK 2,061 24.3%
LLY 1,955 44.7%
AAPL 1,849 7.3%
GOOGL 1,531 27.5%
Q 1,421 NEW
AMZN 1,175 7.9%
JNJ 1,120 10.9%
Top Reduces (Value $000, Stocks/ETFs)
MSFT -2,979 -7.8%
ADP -2,084 -13.8%
DD -1,795 -58.5%
NKE -1,353 -23.2%
ZTS -1,291 -18.2%
CCI -1,238 -20.5%
MDLZ -1,125 -16.5%
NVDA -843 -36.8%
CARR -724 -13.0%
DLR -681 -9.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type