# EDGAR Filing Document

**Accession Number:** 0001802361
**File Stem:** 0001802361-23-000001
**Filing Date:** 2023-1
**Character Count:** 16286
**Document Hash:** 76da9e29e7f0b4f64fd641fd96332d8a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001802361-23-000001.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0001802361-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**EFFECTIVENESS DATE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAGNOLIA CAPITAL MANAGEMENT LTD
- **CENTRAL INDEX KEY:** 0001802361
- **IRS NUMBER:** 030398089
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19955
- **FILM NUMBER:** 23533832

**BUSINESS ADDRESS:**
- **STREET 1:** 145 MAIN STREET
- **CITY:** COLD SPRING
- **STATE:** NY
- **ZIP:** 10516
- **BUSINESS PHONE:** 8458095259

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 330
- **CITY:** COLD SPRING
- **STATE:** NY
- **ZIP:** 10516

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** MAGNOLIA CAPITAL MANAGEMENT LTD<br>**Address:** PO BOX 330<br>COLD SPRING, NY 10516

**Form 13F File Number:** 028-19955

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Tamar Stubbs<br>**Title:** Vice-President<br>**Phone:** 8458095259

**Signature, Place, and Date of Signing:**

Tamar Stubbs  Cold Spring, NY  01-18-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 140

**Form 13F Information Table Value Total:** $102564

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 |  | 607 | 5527 | SH |  | SOLE |  | 0 | 0 | 5527 |
| AbbVie Inc | COM | 00287y109 |  | 889 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| Accenture PLC Ireland Class A | COM | g1151c101 |  | 1124 | 4211 | SH |  | SOLE |  | 0 | 0 | 4211 |
| Adobe Inc | COM | 00724f101 |  | 606 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| Aflac Inc | COM | 001055102 |  | 144 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| Air Prods  Chems Inc | COM | 009158106 |  | 620 | 2010 | SH |  | SOLE |  | 0 | 0 | 2010 |
| Alphabet Inc Cap Stock Cl A | COM | 02079k305 |  | 21 | 240 | SH |  | SOLE |  | 0 | 0 | 240 |
| Alphabet Inc Cap Stock Cl C | COM | 02079k107 |  | 1342 | 15125 | SH |  | SOLE |  | 0 | 0 | 15125 |
| Amazon.com Inc | COM | 023135106 |  | 740 | 8810 | SH |  | SOLE |  | 0 | 0 | 8810 |
| American Express Co | COM | 025816109 |  | 295 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| Amgen Inc | COM | 031162100 |  | 552 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| Analog Devices Inc | COM | 032654105 |  | 3 | 18 | SH |  | SOLE |  | 0 | 0 | 18 |
| Apple Inc | COM | 037833100 |  | 3374 | 25966 | SH |  | SOLE |  | 0 | 0 | 25966 |
| Atmos Energy Corp | COM | 049560105 |  | 5 | 45 | SH |  | SOLE |  | 0 | 0 | 45 |
| Automatic Data Processing Inc | COM | 053015103 |  | 3 | 13 | SH |  | SOLE |  | 0 | 0 | 13 |
| Bank New York Mellon Corp | COM | 064058100 |  | 135 | 2962 | SH |  | SOLE |  | 0 | 0 | 2962 |
| Becton Dickinson  Co | COM | 075887109 |  | 58 | 228 | SH |  | SOLE |  | 0 | 0 | 228 |
| Berkshire Hathaway Inc Cl B | COM | 084670702 |  | 2076 | 6721 | SH |  | SOLE |  | 0 | 0 | 6721 |
| BlackRock Inc | COM | 09247x101 |  | 3 | 4 | SH |  | SOLE |  | 0 | 0 | 4 |
| BROADCOM INC COM | COM | 11135f101 |  | 447 | 800 | SH |  | SOLE |  | 0 | 0 | 800 |
| Capital One Financial Corp | COM | 14040h105 |  | 186 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| CenterPoint Energy Inc | COM | 15189t107 |  | 90 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| Charter Communications Inc Cl | COM | 16119p108 |  | 20 | 60 | SH |  | SOLE |  | 0 | 0 | 60 |
| Chevron Corp | COM | 166764100 |  | 72 | 400 | SH |  | SOLE |  | 0 | 0 | 400 |
| Chubb Limited | COM | h1467j104 |  | 3 | 14 | SH |  | SOLE |  | 0 | 0 | 14 |
| Cigna Corp | COM | 125523100 |  | 97 | 292 | SH |  | SOLE |  | 0 | 0 | 292 |
| Cisco Systems Inc | COM | 17275r102 |  | 1577 | 33109 | SH |  | SOLE |  | 0 | 0 | 33109 |
| CMS Energy Corp | COM | 125896100 |  | 2 | 38 | SH |  | SOLE |  | 0 | 0 | 38 |
| Colgate Palmolive Co | COM | 194162103 |  | 2 | 29 | SH |  | SOLE |  | 0 | 0 | 29 |
| Comcast Corp Cl A | COM | 20030n101 |  | 2 | 49 | SH |  | SOLE |  | 0 | 0 | 49 |
| Constellation Brands Inc Cl A | COM | 21036p108 |  | 1018 | 4392 | SH |  | SOLE |  | 0 | 0 | 4392 |
| Corning Inc | COM | 219350105 |  | 128 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| Costco Wholesale Corp | COM | 22160k105 |  | 460 | 1008 | SH |  | SOLE |  | 0 | 0 | 1008 |
| CSX Corp | COM | 126408103 |  | 461 | 14895 | SH |  | SOLE |  | 0 | 0 | 14895 |
| CVS Health Corp | COM | 126650100 |  | 333 | 3570 | SH |  | SOLE |  | 0 | 0 | 3570 |
| Disney Walt Co Disney | COM | 254687106 |  | 182 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| Electronic Arts Inc | COM | 285512109 |  | 122 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Emerson Electric Co | COM | 291011104 |  | 3 | 29 | SH |  | SOLE |  | 0 | 0 | 29 |
| Eversource Energy | COM | 30040w108 |  | 3 | 30 | SH |  | SOLE |  | 0 | 0 | 30 |
| Exxon Mobil Corp | COM | 30231g102 |  | 596 | 5400 | SH |  | SOLE |  | 0 | 0 | 5400 |
| FactSet Research Systems Inc | COM | 303075105 |  | 3 | 7 | SH |  | SOLE |  | 0 | 0 | 7 |
| General Mills Inc | COM | 370334104 |  | 553 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| Goldman Sachs Group Inc | COM | 38141g104 |  | 343 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Home Depot Inc | COM | 437076102 |  | 606 | 1920 | SH |  | SOLE |  | 0 | 0 | 1920 |
| Honeywell Intl Inc | COM | 438516106 |  | 824 | 3846 | SH |  | SOLE |  | 0 | 0 | 3846 |
| Ingersoll Rand Inc | COM | 45687v106 |  | 92 | 1764 | SH |  | SOLE |  | 0 | 0 | 1764 |
| Intel Corp | COM | 458140100 |  | 330 | 12500 | SH |  | SOLE |  | 0 | 0 | 12500 |
| Intl Business Machines | COM | 459200101 |  | 572 | 4057 | SH |  | SOLE |  | 0 | 0 | 4057 |
| Johnson  Johnson | COM | 478160104 |  | 1972 | 11162 | SH |  | SOLE |  | 0 | 0 | 11162 |
| JPMorgan Chase  Co | COM | 46625h100 |  | 392 | 2925 | SH |  | SOLE |  | 0 | 0 | 2925 |
| L3harris Technologies Inc | COM | 502431109 |  | 147 | 707 | SH |  | SOLE |  | 0 | 0 | 707 |
| Linde PLC | COM | g5494j103 |  | 4 | 11 | SH |  | SOLE |  | 0 | 0 | 11 |
| Lowes Cos Inc | COM | 548661107 |  | 4 | 19 | SH |  | SOLE |  | 0 | 0 | 19 |
| M  T Bank Corp | COM | 55261f104 |  | 396 | 2730 | SH |  | SOLE |  | 0 | 0 | 2730 |
| McDonalds Corp | COM | 580135101 |  | 3 | 10 | SH |  | SOLE |  | 0 | 0 | 10 |
| Medtronic PLC | COM | g5960l103 |  | 2 | 24 | SH |  | SOLE |  | 0 | 0 | 24 |
| Merck  Co Inc | COM | 58933y105 |  | 932 | 8400 | SH |  | SOLE |  | 0 | 0 | 8400 |
| MetLife Inc | COM | 59156r108 |  | 145 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| Microsoft Corp | COM | 594918104 |  | 1898 | 7914 | SH |  | SOLE |  | 0 | 0 | 7914 |
| Mondelez Intl Inc Cl A | COM | 609207105 |  | 269 | 4042 | SH |  | SOLE |  | 0 | 0 | 4042 |
| Morgan Stanley | COM | 617446448 |  | 2 | 29 | SH |  | SOLE |  | 0 | 0 | 29 |
| New Jersey Resources | COM | 646025106 |  | 2 | 42 | SH |  | SOLE |  | 0 | 0 | 42 |
| Nextera Energy Inc | COM | 65339f101 |  | 512 | 6119 | SH |  | SOLE |  | 0 | 0 | 6119 |
| Nucor Corp | COM | 670346105 |  | 198 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| NVIDIA Corp | COM | 67066g104 |  | 146 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Paychex Inc | COM | 704326107 |  | 3 | 25 | SH |  | SOLE |  | 0 | 0 | 25 |
| PepsiCo Inc | COM | 713448108 |  | 1106 | 6124 | SH |  | SOLE |  | 0 | 0 | 6124 |
| Pfizer Inc | COM | 717081103 |  | 881 | 17200 | SH |  | SOLE |  | 0 | 0 | 17200 |
| Pioneer Natural Resources Co | COM | 723787107 |  | 126 | 550 | SH |  | SOLE |  | 0 | 0 | 550 |
| PPG Industries Inc | COM | 693506107 |  | 2 | 18 | SH |  | SOLE |  | 0 | 0 | 18 |
| Procter And Gamble Co | COM | 742718109 |  | 950 | 6270 | SH |  | SOLE |  | 0 | 0 | 6270 |
| Qualcomm Inc | COM | 747525103 |  | 836 | 7600 | SH |  | SOLE |  | 0 | 0 | 7600 |
| Royal Bank of Canada Montreal | COM | 780087102 |  | 317 | 3370 | SH |  | SOLE |  | 0 | 0 | 3370 |
| S Global Inc | COM | 78409v104 |  | 3 | 9 | SH |  | SOLE |  | 0 | 0 | 9 |
| Salisbury Bancorp Inc | COM | 795226109 |  | 67 | 2138 | SH |  | SOLE |  | 0 | 0 | 2138 |
| Smucker J M Co | COM | 832696405 |  | 3 | 17 | SH |  | SOLE |  | 0 | 0 | 17 |
| Starbucks Corp | COM | 855244109 |  | 3 | 27 | SH |  | SOLE |  | 0 | 0 | 27 |
| Stryker Corp | COM | 863667101 |  | 3 | 11 | SH |  | SOLE |  | 0 | 0 | 11 |
| Texas Instruments Inc | COM | 882508104 |  | 146 | 882 | SH |  | SOLE |  | 0 | 0 | 882 |
| TJX Cos Inc | COM | 872540109 |  | 3 | 38 | SH |  | SOLE |  | 0 | 0 | 38 |
| Trane Technologies PLC | COM | g8994e103 |  | 336 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| Travelers Companies Inc | COM | 89417e109 |  | 37 | 200 | SH |  | SOLE |  | 0 | 0 | 200 |
| United Parcel Service Inc Cl B | COM | 911312106 |  | 525 | 3020 | SH |  | SOLE |  | 0 | 0 | 3020 |
| UnitedHealth Group Inc | COM | 91324p102 |  | 4 | 8 | SH |  | SOLE |  | 0 | 0 | 8 |
| Valero Energy Corp | COM | 91913y100 |  | 381 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| Verizon Communications Inc | COM | 92343v104 |  | 100 | 2537 | SH |  | SOLE |  | 0 | 0 | 2537 |
| Visa Inc Cl A | COM | 92826c839 |  | 312 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| Wal-Mart Stores Inc | COM | 931142103 |  | 286 | 2020 | SH |  | SOLE |  | 0 | 0 | 2020 |
| Wells Fargo  Co | COM | 949746101 |  | 310 | 7500 | SH |  | SOLE |  | 0 | 0 | 7500 |
| Yum Brands Inc | COM | 988498101 |  | 128 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Nestle SA Sp ADR | ADR | 641069406 |  | 695 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| Alps Etf Tr Alerian Mlp | UIU | 00162q452 |  | 142 | 3725 | SH |  | SOLE |  | 0 | 0 | 3725 |
| Fidelity MSCI Consm Dis | UIU | 316092204 |  | 11 | 195 | SH |  | SOLE |  | 0 | 0 | 195 |
| Fidelity MSCI Info Tech I | UIU | 316092808 |  | 240 | 2543 | SH |  | SOLE |  | 0 | 0 | 2543 |
| Global X Funds Lithium Btry ET | UIU | 37954y855 |  | 10 | 165 | SH |  | SOLE |  | 0 | 0 | 165 |
| Invesco Qqq Tr Unit Ser 1 | UIU | 46090e103 |  | 10661 | 40038 | SH |  | SOLE |  | 0 | 0 | 40038 |
| iShares Core S  P Small Cap | UIU | 464287804 |  | 4131 | 43646 | SH |  | SOLE |  | 0 | 0 | 43646 |
| iShares Core S 500 ETF | UIU | 464287200 |  | 59 | 153 | SH |  | SOLE |  | 0 | 0 | 153 |
| iShares Core S Mid-Cap | UIU | 464287507 |  | 6532 | 27004 | SH |  | SOLE |  | 0 | 0 | 27004 |
| iShares MSCI ACWI ETF | UIU | 464288257 |  | 141 | 1665 | SH |  | SOLE |  | 0 | 0 | 1665 |
| iShares MSCI Germany ETF | UIU | 464286806 |  | 125 | 5055 | SH |  | SOLE |  | 0 | 0 | 5055 |
| iShares PHLX Semicnd ETF | UIU | 464287523 |  | 124 | 355 | SH |  | SOLE |  | 0 | 0 | 355 |
| iShares US Aer ETF | UIU | 464288760 |  | 470 | 4205 | SH |  | SOLE |  | 0 | 0 | 4205 |
| iShares US Bas Mtl ETF | UIU | 464287838 |  | 221 | 1775 | SH |  | SOLE |  | 0 | 0 | 1775 |
| iShares US Financials ETF | UIU | 464287788 |  | 668 | 8845 | SH |  | SOLE |  | 0 | 0 | 8845 |
| iShares US Industries ETF | UIU | 464287754 |  | 2123 | 22010 | SH |  | SOLE |  | 0 | 0 | 22010 |
| iShares US Tech ETF | UIU | 464287721 |  | 45 | 600 | SH |  | SOLE |  | 0 | 0 | 600 |
| Select Sector SPDR Cons Discre | UIU | 81369y407 |  | 1912 | 14801 | SH |  | SOLE |  | 0 | 0 | 14801 |
| Select Sector SPDR Consumer St | UIU | 81369y308 |  | 1675 | 22470 | SH |  | SOLE |  | 0 | 0 | 22470 |
| Select Sector SPDR Energy | UIU | 81369y506 |  | 381 | 4355 | SH |  | SOLE |  | 0 | 0 | 4355 |
| Select Sector SPDR Financial | UIU | 81369y605 |  | 220 | 6430 | SH |  | SOLE |  | 0 | 0 | 6430 |
| Select Sector SPDR Healthcare | UIU | 81369y209 |  | 2666 | 19624 | SH |  | SOLE |  | 0 | 0 | 19624 |
| Select Sector SPDR Industrials | UIU | 81369y704 |  | 838 | 8530 | SH |  | SOLE |  | 0 | 0 | 8530 |
| Select Sector SPDR Tr Communic | UIU | 81369y852 |  | 267 | 5574 | SH |  | SOLE |  | 0 | 0 | 5574 |
| SPDR Asia Pacific ETF | UIU | 78463x301 |  | 650 | 6765 | SH |  | SOLE |  | 0 | 0 | 6765 |
| SPDR Dow Jones Industrial Avrg | UIU | 78467x109 |  | 5774 | 17427 | SH |  | SOLE |  | 0 | 0 | 17427 |
| SPDR S 500 ETF Tr | UIU | 78462f103 |  | 15020 | 39276 | SH |  | SOLE |  | 0 | 0 | 39276 |
| SPDR S Div ETF | UIU | 78464a763 |  | 438 | 3499 | SH |  | SOLE |  | 0 | 0 | 3499 |
| SPDR S Metals Mining | UIU | 78464a755 |  | 308 | 6190 | SH |  | SOLE |  | 0 | 0 | 6190 |
| SPDR S Regl Banking | UIU | 78464a698 |  | 39 | 670 | SH |  | SOLE |  | 0 | 0 | 670 |
| Vanguard FTSE Europe ETF | UIU | 922042874 |  | 45 | 815 | SH |  | SOLE |  | 0 | 0 | 815 |
| Vanguard Health Care ETF | UIU | 92204a504 |  | 164 | 660 | SH |  | SOLE |  | 0 | 0 | 660 |
| Vanguard High Div Yield | UIU | 921946406 |  | 319 | 2950 | SH |  | SOLE |  | 0 | 0 | 2950 |
| Vanguard Materials ETF | UIU | 92204a801 |  | 14 | 85 | SH |  | SOLE |  | 0 | 0 | 85 |
| Vanguard Mid Cap ETF | UIU | 922908629 |  | 397 | 1950 | SH |  | SOLE |  | 0 | 0 | 1950 |
| Vanguard Small Cap ETF | UIU | 922908751 |  | 26 | 143 | SH |  | SOLE |  | 0 | 0 | 143 |
| Vanguard Value ETF | UIU | 922908744 |  | 978 | 6970 | SH |  | SOLE |  | 0 | 0 | 6970 |
| American Beacon Small Cap Valu | MTF | 02368a620 |  | 269 | 12677 | SH |  | SOLE |  | 0 | 0 | 12677 |
| BNY Mellon Emerg Mkts Inv | MTF | 05569m848 |  | 580 | 61002 | SH |  | SOLE |  | 0 | 0 | 61002 |
| BNY Mellon Mid Cap Multi Strat | MTF | 05569m608 |  | 1818 | 117902 | SH |  | SOLE |  | 0 | 0 | 117902 |
| BNY Mellon Small Cap Multi Str | MTF | 05569m889 |  | 895 | 52496 | SH |  | SOLE |  | 0 | 0 | 52496 |
| Edgewood Growth Inst | MTF | 0075w0759 |  | 172 | 5506 | SH |  | SOLE |  | 0 | 0 | 5506 |
| Fidelity Tr 500 Index Ins Prem | MTF | 315911750 |  | 575 | 4316 | SH |  | SOLE |  | 0 | 0 | 4316 |
| First Eagle Global Fund Cl I | MTF | 32008f606 |  | 23 | 400 | SH |  | SOLE |  | 0 | 0 | 400 |
| Selected American Inc Cl S | MTF | 816221105 |  | 94 | 2995 | SH |  | SOLE |  | 0 | 0 | 2995 |
| Enterprise Products Partners L | ML | 293792107 |  | 302 | 12525 | SH |  | SOLE |  | 0 | 0 | 12525 |
| Magellan Midstream Partners LP | ML | 559080106 |  | 1053 | 20966 | SH |  | SOLE |  | 0 | 0 | 20966 |
| American Tower Corp | RET | 03027x100 |  | 2 | 10 | SH |  | SOLE |  | 0 | 0 | 10 |
| Crown Castle Intl Corp | RET | 22822v101 |  | 1343 | 9904 | SH |  | SOLE |  | 0 | 0 | 9904 |
| Realty Income Corp | RET | 756109104 |  | 1294 | 20406 | SH |  | SOLE |  | 0 | 0 | 20406 |

---