Q1 2025 · 13F-HR
Adalta Capital Management LLCholdings as filed
Filed 2025-05-16 · accession 0001698926-25-000002
$187.8M
Reported value
101
Positions
2025-03-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corporation | $18.2M | 9.68% | 48,443 | Common | SOLE |
| 09260D107 | BX | Blackstone Group Inc | $12.8M | 6.79% | 91,216 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co | $12.1M | 6.42% | 49,158 | Common | SOLE |
| 437076102 | HD | Home Depot | $10.7M | 5.70% | 29,210 | Common | SOLE |
| 11271J107 | BN | Brookfield Corp F Class A | $9.0M | 4.82% | 172,613 | Common | SOLE |
| 71742W103 | PFX | PhenixFIN Corporation | $8.9M | 4.76% | 168,449 | Common | SOLE |
| 747525103 | QCOM | Qualcomm Inc. | $8.6M | 4.57% | 55,906 | Common | SOLE |
| 58933Y105 | MRK | Merck & Co. Inc. | $8.2M | 4.35% | 90,161 | Common | SOLE |
| 907818108 | UNP | Union Pacific Corp. | $8.0M | 4.25% | 33,770 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Class A | $6.7M | 3.59% | 43,592 | Common | SOLE |
| 025816109 | AXP | American Express Co. | $6.6M | 3.49% | 24,385 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Co REIT | $5.3M | 2.82% | 180,907 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd | $4.9M | 2.61% | 50,967 | Common | SOLE |
| 570535104 | MKL | Markel Group Inc. | $4.8M | 2.58% | 2,591 | Common | SOLE |
| 58733R102 | MELI | Mercadolibre Inc | $4.0M | 2.13% | 2,055 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Class B | $3.3M | 1.76% | 6,193 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $3.0M | 1.62% | 18,344 | Common | SOLE |
| 842587107 | SO | Southern Company | $3.0M | 1.61% | 32,794 | Common | SOLE |
| 40131M109 | GH | Guardant Health, Inc. | $2.7M | 1.44% | 63,663 | Common | SOLE |
| 26441C204 | DUK | Duke Energy Corp | $2.5M | 1.33% | 20,431 | Common | SOLE |
| 113004105 | BAM | Brookfield Asset Management Ltd. | $2.1M | 1.12% | 43,341 | Common | SOLE |
| 351858105 | FNV | Franco-Nevada Corp | $2.0M | 1.06% | 12,591 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems, Inc. | $1.9M | 1.02% | 31,024 | Common | SOLE |
| 235851102 | DHR | Danaher Corp | $1.8M | 0.98% | 8,919 | Common | SOLE |
| 22266T109 | CPNG | Coupang, Inc. | $1.7M | 0.93% | 79,729 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc. Class C | $1.7M | 0.93% | 11,184 | Common | SOLE |
| 806857108 | SLB | SLB | $1.6M | 0.83% | 37,219 | Common | SOLE |
| 136375102 | CNI | Canadian National Railway Co. | $1.6M | 0.83% | 15,950 | Common | SOLE |
| 166764100 | CVX | Chevron Corp. | $1.5M | 0.81% | 9,069 | Common | SOLE |
| 097023105 | BA | Boeing | $1.4M | 0.75% | 8,300 | Common | SOLE |
| 09257W100 | BXMT | Blackstone Mortgage Trust | $1.3M | 0.68% | 62,432 | Common | SOLE |
| 037833100 | AAPL | Apple Inc. | $1.3M | 0.67% | 5,670 | Common | SOLE |
| 110122108 | BMY | Bristol-Myers Squibb | $1.1M | 0.61% | 18,722 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $1.0M | 0.54% | 10,335 | Common | SOLE |
| 30231G102 | XOM | ExxonMobil Corp | $965,831 | 0.51% | 8,121 | Common | SOLE |
| 244199105 | DE | Deere & Co | $927,811 | 0.49% | 1,970 | Common | SOLE |
| G6683N103 | NU | Nu Holdings Ltd. | $919,521 | 0.49% | 89,797 | Common | SOLE |
| 209115104 | ED | Consolidated Edison | $881,071 | 0.47% | 7,967 | Common | SOLE |
| 194162103 | CL | Colgate-Palmolive Co | $834,867 | 0.44% | 8,910 | Common | NONE |
| 718172109 | PM | Philip Morris International Inc. | $678,739 | 0.36% | 4,240 | Common | SOLE |
| 20030N101 | CMCSA | Comcast Corporation | $664,200 | 0.35% | 18,000 | Common | SOLE |
| 25746U109 | D | Dominion Resources, Inc | $656,019 | 0.35% | 11,700 | Common | SOLE |
| 742718109 | PG | Procter & Gamble | $645,721 | 0.34% | 3,789 | Common | SOLE |
| 69331C108 | PCG | PG&E Corporation | $627,811 | 0.33% | 36,490 | Common | SOLE |
| 29250N105 | ENB | Enbridge Inc | $566,991 | 0.30% | 12,796 | Common | SOLE |
| 30151E806 | CEFS | Saba Closed End Funds ETF | $557,460 | 0.30% | 26,135 | Common | SOLE |
| 78518H202 | BRW | Saba Capital Income & Opportunities Fund | $545,528 | 0.29% | 70,300 | Common | SOLE |
| 084423102 | WRB | W. R. Berkley Corporation | $528,007 | 0.28% | 7,420 | Common | NONE |
| G16258108 | BEP | Brookfield Renewable LP | $514,134 | 0.27% | 23,201 | Common | SOLE |
| 293792107 | EPD | Enterprise Products Partners L.P. | $501,005 | 0.27% | 14,675 | Common | SOLE |
| 573284106 | MLM | Martin Marietta Matr | $490,083 | 0.26% | 1,025 | Common | SOLE |
| 70450Y103 | PYPL | Paypal Holdings Inc | $480,893 | 0.26% | 7,370 | Common | SOLE |
| 281020107 | EIX | Edison International | $471,360 | 0.25% | 8,000 | Common | SOLE |
| 37045V100 | GM | General Motors Co | $470,300 | 0.25% | 10,000 | Common | SOLE |
| G4124C109 | GRAB | Grab Holdings Ltd. | $440,225 | 0.23% | 97,180 | Common | SOLE |
| 532457108 | LLY | Eli Lilly & Company | $421,214 | 0.22% | 510 | Common | SOLE |
| 191216100 | KO | Coca-Cola Company | $405,731 | 0.22% | 5,625 | Common | SOLE |
| 67401P405 | OCSL | Oaktree Specialty Lending Corporation | $392,218 | 0.21% | 25,535 | Common | SOLE |
| 26884L109 | EQT | EQT Corporation | $390,039 | 0.21% | 7,300 | Common | SOLE |
| 038222105 | AMAT | Applied Materials | $387,470 | 0.21% | 2,670 | Common | SOLE |
| 01609W102 | BABA | Alibaba Group ADR | $367,599 | 0.20% | 2,780 | Common | SOLE |
| 293594107 | ENVX | Enovix Corporation | $359,888 | 0.19% | 49,031 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc. | $341,129 | 0.18% | 1,611 | Common | SOLE |
| 389637109 | GBTC | Grayscale Bitcoin Trust | $269,478 | 0.14% | 4,135 | Common | SOLE |
| 833445109 | SNOW | Snowflake Inc. | $254,318 | 0.14% | 1,740 | Common | SOLE |
| 624758108 | MWA | Mueller Water Products, Inc. | $235,135 | 0.13% | 9,250 | Common | NONE |
| 969457100 | WMB | The Williams Companies, Inc. | $216,032 | 0.12% | 3,615 | Common | SOLE |
| 201723103 | CMC | Commercial Metals Co | $210,857 | 0.11% | 4,565 | Common | SOLE |
| 427866108 | HSY | Hershey Co | $210,196 | 0.11% | 1,229 | Common | SOLE |
| 81141R100 | SE | Sea Limited | $202,260 | 0.11% | 1,550 | Common | NONE |
| 92189F171 | GRNB | Vaneck Vectors Green Bond ETF | $198,507 | 0.11% | 8,250 | Common | SOLE |
| 00287Y109 | ABBV | Abbvie Inc | $191,920 | 0.10% | 916 | Common | SOLE |
| 49177J102 | KVUE | Kenvue Inc | $191,840 | 0.10% | 8,000 | Common | NONE |
| 46120E602 | ISRG | Intuitive Surgical | $185,726 | 0.10% | 375 | Common | SOLE |
| 023135106 | AMZN | Amazon Com Inc | $184,552 | 0.10% | 970 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies Inc | $176,686 | 0.09% | 2,425 | Common | SOLE |
| 75513E101 | RTX | Raytheon Technologies Co | $172,198 | 0.09% | 1,300 | Common | SOLE |
| 29605J106 | ESAB | ESAB Corp | $170,090 | 0.09% | 1,460 | Common | NONE |
| 78467J100 | SSNC | SS&C Technologies Holdings, Inc. | $167,060 | 0.09% | 2,000 | Common | NONE |
| 11285B108 | BEPC | Brookfield Renewable Corp | $165,342 | 0.09% | 5,922 | Common | SOLE |
| 00206R102 | T | AT&T | $163,597 | 0.09% | 5,785 | Common | NONE |
| 69608A108 | PLTR | Palantir Technologies Inc. | $162,639 | 0.09% | 1,927 | Common | SOLE |
| 22160K105 | COST | Costco Wholesale Co | $151,325 | 0.08% | 160 | Common | SOLE |
| 25243Q205 | DEO | Diageo PLC ADR | $151,102 | 0.08% | 1,420 | Common | SOLE |
| 007903107 | AMD | Advanced Micro Devices, Inc. | $146,918 | 0.08% | 1,430 | Common | SOLE |
| 494368103 | KMB | Kimberly-Clark Corp | $144,197 | 0.08% | 1,005 | Common | SOLE |
| 707569109 | PENN | Penn NTNL Gaming | $143,789 | 0.08% | 8,816 | Common | SOLE |
| 927959106 | VNOMUSD | Viper Energy Inc Class A | $143,577 | 0.08% | 3,180 | Common | SOLE |
| 14448C104 | CARR | Carrier Global Corp | $138,466 | 0.07% | 2,184 | Common | SOLE |
| 368736104 | GNRC | Generac Holdings Inc | $136,782 | 0.07% | 1,080 | Common | SOLE |
| 110448107 | BTI | British American Tobacco ADR | $126,517 | 0.07% | 3,000 | Common | NONE |
| 53656G209 | BCDF | Horizon Kinetics Blockchain Development ETF | $123,347 | 0.07% | 4,425 | Common | SOLE |
| H8088L103 | SRAD | Sportradar Group AG | $122,694 | 0.07% | 5,675 | Common | SOLE |
| 370334104 | GIS | General Mills Inc | $119,580 | 0.06% | 2,000 | Common | SOLE |
| 552690109 | MDU | MDU Resources Group, Inc. | $111,271 | 0.06% | 6,530 | Common | SOLE |
| 92333F101 | VG | Venture Global Inc-CL A | $103,000 | 0.05% | 10,000 | Common | NONE |
| 94106L109 | WM | Waste Management Inc | $98,392 | 0.05% | 425 | Common | SOLE |
| 060505104 | BAC | Bank of America | $83,460 | 0.04% | 2,000 | Common | SOLE |
| 18915M107 | NET | CloudFlare, Inc. | $69,304 | 0.04% | 615 | Common | SOLE |
| 300426103 | ECG | Everus Construction, Inc. | $60,234 | 0.03% | 1,624 | Common | SOLE |
| 25179M103 | DVN | Devon Energy Corp | $57,377 | 0.03% | 1,525 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.