Q2 2025 · 13F-HR
Adalta Capital Management LLCholdings as filed
Filed 2025-08-12 · accession 0001698926-25-000003
$199.3M
Reported value
97
Positions
2025-06-30
Period end
The Brief · Adalta Capital Management LLC · Q2 2025
AI · grounded in 13F
Adalta Capital Management LLC established a new position in MSFT valued at $22.7M. The fund also initiated new stakes in JPM for $14M and BX for $13.5M. Additional new positions include HD at $10.7M and BN at $10.6M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corporation | $22.7M | 11.4% | 45,631 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co | $14.0M | 7.01% | 48,212 | Common | SOLE |
| 09260D107 | BX | Blackstone Group Inc | $13.5M | 6.76% | 90,041 | Common | SOLE |
| 437076102 | HD | Home Depot | $10.7M | 5.38% | 29,240 | Common | SOLE |
| 11271J107 | BN | Brookfield Corp F Class A | $10.6M | 5.34% | 171,963 | Common | SOLE |
| 747525103 | QCOM | Qualcomm Inc. | $8.8M | 4.44% | 55,536 | Common | SOLE |
| 71742W103 | PFX | PhenixFIN Corporation | $8.6M | 4.33% | 169,839 | Common | SOLE |
| 907818108 | UNP | Union Pacific Corp. | $7.8M | 3.89% | 33,710 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Class A | $7.7M | 3.87% | 43,778 | Common | SOLE |
| 025816109 | AXP | American Express Co. | $7.5M | 3.75% | 23,445 | Common | SOLE |
| 58933Y105 | MRK | Merck & Co. Inc. | $7.2M | 3.62% | 90,180 | Common | SOLE |
| 58733R102 | MELI | Mercadolibre Inc | $5.3M | 2.68% | 2,042 | Common | SOLE |
| 570535104 | MKL | Markel Group Inc. | $5.3M | 2.65% | 2,643 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Co REIT | $4.6M | 2.33% | 180,932 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd | $4.6M | 2.33% | 50,997 | Common | SOLE |
| 40131M109 | GH | Guardant Health, Inc. | $3.3M | 1.65% | 63,363 | Common | SOLE |
| 842587107 | SO | Southern Company | $3.0M | 1.51% | 32,794 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Class B | $3.0M | 1.51% | 6,193 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $2.8M | 1.40% | 18,237 | Common | SOLE |
| 26441C204 | DUK | Duke Energy Corp | $2.4M | 1.23% | 20,696 | Common | SOLE |
| 22266T109 | CPNG | Coupang, Inc. | $2.4M | 1.21% | 80,511 | Common | SOLE |
| 113004105 | BAM | Brookfield Asset Management Ltd. | $2.4M | 1.19% | 42,728 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc. Class C | $2.2M | 1.09% | 12,209 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems, Inc. | $2.2M | 1.08% | 31,024 | Common | SOLE |
| 351858105 | FNV | Franco-Nevada Corp | $2.1M | 1.05% | 12,816 | Common | SOLE |
| G6683N103 | NU | Nu Holdings Ltd. | $1.8M | 0.90% | 131,325 | Common | SOLE |
| 235851102 | DHR | Danaher Corp | $1.7M | 0.88% | 8,819 | Common | SOLE |
| 097023105 | BA | Boeing | $1.7M | 0.87% | 8,300 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $1.7M | 0.85% | 11,770 | Common | SOLE |
| 136375102 | CNI | Canadian National Railway Co. | $1.6M | 0.81% | 15,450 | Common | SOLE |
| 166764100 | CVX | Chevron Corp. | $1.3M | 0.65% | 9,069 | Common | SOLE |
| 806857108 | SLB | SLB | $1.2M | 0.62% | 36,219 | Common | SOLE |
| 09257W100 | BXMT | Blackstone Mortgage Trust | $1.2M | 0.62% | 62,433 | Common | SOLE |
| 037833100 | AAPL | Apple Inc. | $1.0M | 0.52% | 5,075 | Common | SOLE |
| 30231G102 | XOM | ExxonMobil Corp | $875,444 | 0.44% | 8,121 | Common | SOLE |
| 110122108 | BMY | Bristol-Myers Squibb | $868,956 | 0.44% | 18,772 | Common | SOLE |
| 194162103 | CL | Colgate-Palmolive Co | $809,919 | 0.41% | 8,910 | Common | NONE |
| 209115104 | ED | Consolidated Edison | $799,488 | 0.40% | 7,967 | Common | SOLE |
| 718172109 | PM | Philip Morris International Inc. | $777,955 | 0.39% | 4,240 | Common | SOLE |
| 78518H202 | BRW | Saba Capital Income & Opportunities Fund | $767,312 | 0.39% | 95,200 | Common | SOLE |
| 25746U109 | D | Dominion Resources, Inc | $661,284 | 0.33% | 11,700 | Common | SOLE |
| 742718109 | PG | Procter & Gamble | $603,663 | 0.30% | 3,789 | Common | SOLE |
| 084423102 | WRB | W. R. Berkley Corporation | $600,250 | 0.30% | 8,170 | Common | SOLE |
| 30151E806 | CEFS | Saba Closed End Funds ETF | $581,242 | 0.29% | 26,135 | Common | SOLE |
| 29250N105 | ENB | Enbridge Inc | $579,915 | 0.29% | 12,796 | Common | SOLE |
| G16258108 | BEP | Brookfield Renewable LP | $576,552 | 0.29% | 22,601 | Common | SOLE |
| 573284106 | MLM | Martin Marietta Matr | $557,194 | 0.28% | 1,015 | Common | SOLE |
| 110448107 | BTI | British American Tobacco ADR | $556,834 | 0.28% | 11,570 | Common | SOLE |
| 244199105 | DE | Deere & Co | $510,110 | 0.26% | 1,000 | Common | SOLE |
| 69331C108 | PCG | PG&E Corporation | $509,583 | 0.26% | 36,490 | Common | SOLE |
| G4124C109 | GRAB | Grab Holdings Ltd. | $496,360 | 0.25% | 98,680 | Common | SOLE |
| 427866108 | HSY | Hershey Co | $479,761 | 0.24% | 2,891 | Common | SOLE |
| 70450Y103 | PYPL | Paypal Holdings Inc | $462,270 | 0.23% | 6,220 | Common | SOLE |
| 293792107 | EPD | Enterprise Products Partners L.P. | $455,072 | 0.23% | 14,675 | Common | SOLE |
| 281020107 | EIX | Edison International | $412,800 | 0.21% | 8,000 | Common | SOLE |
| 191216100 | KO | Coca-Cola Company | $400,838 | 0.20% | 5,625 | Common | SOLE |
| 532457108 | LLY | Eli Lilly & Company | $393,663 | 0.20% | 505 | Common | SOLE |
| 26884L109 | EQT | EQT Corporation | $384,912 | 0.19% | 6,600 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc. | $375,170 | 0.19% | 1,611 | Common | SOLE |
| 389637109 | GBTC | Grayscale Bitcoin Trust | $350,772 | 0.18% | 4,135 | Common | SOLE |
| 67401P405 | OCSL | Oaktree Specialty Lending Corporation | $348,808 | 0.18% | 25,535 | Common | SOLE |
| 833445109 | SNOW | Snowflake Inc. | $289,782 | 0.15% | 1,295 | Common | SOLE |
| 81141R100 | SE | Sea Limited | $247,907 | 0.12% | 1,550 | Common | NONE |
| 01609W102 | BABA | Alibaba Group ADR | $241,927 | 0.12% | 2,090 | Common | NONE |
| 69608A108 | PLTR | Palantir Technologies Inc. | $228,609 | 0.11% | 1,677 | Common | SOLE |
| 969457100 | WMB | The Williams Companies, Inc. | $227,058 | 0.11% | 3,615 | Common | SOLE |
| 201723103 | CMC | Commercial Metals Co | $224,096 | 0.11% | 4,565 | Common | SOLE |
| 023135106 | AMZN | Amazon Com Inc | $212,808 | 0.11% | 970 | Common | SOLE |
| 038222105 | AMAT | Applied Materials | $209,615 | 0.11% | 1,145 | Common | SOLE |
| 46120E602 | ISRG | Intuitive Surgical | $203,779 | 0.10% | 375 | Common | SOLE |
| 92189F171 | GRNB | Vaneck Vectors Green Bond ETF | $199,980 | 0.10% | 8,250 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies Inc | $193,598 | 0.10% | 2,075 | Common | SOLE |
| 389930207 | BTC | Grayscale Bitcoin Mini Trust ETF | $191,000 | 0.10% | 4,000 | Common | NONE |
| 75513E101 | RTX | Raytheon Technologies Co | $189,826 | 0.10% | 1,300 | Common | SOLE |
| 11285B108 | BEPC | Brookfield Renewable Corp | $189,206 | 0.09% | 5,772 | Common | SOLE |
| 231561101 | CW | Curtiss Wright Corp | $172,054 | 0.09% | 352 | Common | SOLE |
| 00287Y109 | ABBV | Abbvie Inc | $170,028 | 0.09% | 916 | Common | SOLE |
| 00206R102 | T | AT&T | $167,416 | 0.08% | 5,785 | Common | NONE |
| 30303M102 | META | Meta Platforms, Inc. | $166,070 | 0.08% | 225 | Common | SOLE |
| 14448C104 | CARR | Carrier Global Corp | $159,847 | 0.08% | 2,184 | Common | SOLE |
| 368736104 | GNRC | Generac Holdings Inc | $154,667 | 0.08% | 1,080 | Common | SOLE |
| 22160K105 | COST | Costco Wholesale Co | $153,441 | 0.08% | 155 | Common | SOLE |
| 29605J106 | ESAB | ESAB Corp | $151,893 | 0.08% | 1,260 | Common | SOLE |
| 25243Q205 | DEO | Diageo PLC ADR | $143,193 | 0.07% | 1,420 | Common | SOLE |
| 707569109 | PENN | Penn NTNL Gaming | $141,352 | 0.07% | 7,910 | Common | SOLE |
| 540424108 | L | Loews Corp | $137,490 | 0.07% | 1,500 | Common | NONE |
| 494368103 | KMB | Kimberly-Clark Corp | $130,831 | 0.07% | 1,005 | Common | SOLE |
| 624758108 | MWA | Mueller Water Products, Inc. | $123,806 | 0.06% | 5,150 | Common | NONE |
| 927959106 | VNOMUSD | Viper Energy Inc Class A | $121,253 | 0.06% | 3,180 | Common | SOLE |
| 18915M107 | NET | CloudFlare, Inc. | $120,435 | 0.06% | 615 | Common | SOLE |
| 552690109 | MDU | MDU Resources Group, Inc. | $109,704 | 0.06% | 6,530 | Common | SOLE |
| H8088L103 | SRAD | Sportradar Group AG | $105,300 | 0.05% | 3,750 | Common | SOLE |
| 370334104 | GIS | General Mills Inc | $103,620 | 0.05% | 2,000 | Common | SOLE |
| 94106L109 | WM | Waste Management Inc | $97,249 | 0.05% | 425 | Common | SOLE |
| 92333F101 | VG | Venture Global Inc-CL A | $91,922 | 0.05% | 5,900 | Common | NONE |
| 78467J100 | SSNC | SS&C Technologies Holdings, Inc. | $82,800 | 0.04% | 1,000 | Common | NONE |
| 49177J102 | KVUE | Kenvue Inc | $54,418 | 0.03% | 2,600 | Common | NONE |
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.