Institutional
Adalta Capital Management LLC
CIK 0001698926
$209.1M
Reported AUM
97
Positions
Q1 2026
Period
2026-05-18
Filed
The Brief · Adalta Capital Management LLC · Q1 2026
AI · grounded in 13F
Adalta Capital Management LLC increased its position in Micron Technology, Inc. MU by 384.67%. The fund established new positions in Landbridge Co LLC Class A LB for $779,229 and WaterBridge Infrastructure LLC for $659,704. Simultaneously, the manager reduced holdings in Microsoft Corporation MSFT by 12.72% and Alphabet Inc. Class A GOOGL by 11.17%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft Corporation | $416.67 | -2.66% | -10.71% | 52.39% | $14.6M | 6.99% | −5,754 | −12.7% |
| 2 | JPM | JPMorgan Chase & Co | $312.37 | 0.48% | 19.84% | 133.52% | $14.0M | 6.70% | −70 | −0.1% |
| 3 | GOOGL | Alphabet Inc. Class A | $368.53 | -0.98% | 112.92% | 175.80% | $11.0M | 5.28% | −4,830 | −11.2% |
| 4 | MRK | Merck & Co. Inc. | $120.79 | 0.44% | 58.51% | 82.35% | $10.7M | 5.13% | −989 | −1.1% |
| 5 | BN | Brookfield Corp F Class A | $44.60 | -1.00% | 14.26% | 59.83% | $10.7M | 5.13% | −1,393 | −0.5% |
| 6 | BX | Blackstone Group Inc | $115.35 | -2.70% | -14.89% | 18.68% | $10.0M | 4.77% | −670 | −0.8% |
| 7 | HD | Home Depot | $310.78 | 0.27% | -12.61% | 7.24% | $9.6M | 4.59% | −10 | −0.0% |
| 8 | UNP | Union Pacific Corp. | $272.32 | 3.19% | 24.65% | 39.36% | $8.2M | 3.91% | — | HELD |
| 9 | QCOM | Qualcomm Inc. | $215.94 | -10.98% | 48.63% | 60.58% | $6.9M | 3.29% | −2,454 | −4.4% |
| 10 | PFX | PhenixFIN Corporation | $45.50 | 0.00% | -6.29% | 20.70% | $6.9M | 3.28% | — | HELD |
| 11 | AXP | American Express Co. | $310.66 | -0.60% | 3.78% | 93.56% | $6.8M | 3.26% | −740 | −3.2% |
| 12 | GH | Guardant Health, Inc. | $125.61 | -5.60% | 161.36% | 14.40% | $5.7M | 2.72% | −1,815 | −2.9% |
| 13 | MKL | Markel Group Inc. | $1818.67 | 2.27% | -7.38% | 50.78% | $5.3M | 2.54% | +43 | +1.6% |
| 14 | ACGL | Arch Capital Group Ltd | $90.56 | -0.69% | -4.54% | 145.89% | $5.2M | 2.48% | −1,110 | −2.0% |
| 15 | MELI | Mercadolibre Inc | $1607.80 | -1.65% | -35.23% | 2.49% | $4.6M | 2.20% | +529 | +24.8% |
| 16 | WY | Weyerhaeuser Co REIT | $24.48 | -0.89% | -5.18% | -10.54% | $4.3M | 2.04% | +7,100 | +4.2% |
| 17 | JNJ | Johnson & Johnson | $232.77 | 2.02% | 53.90% | 55.59% | $4.2M | 2.00% | −125 | −0.7% |
| 18 | GOOG | Alphabet Inc. Class C | $365.76 | -0.95% | 109.82% | 172.71% | $3.6M | 1.71% | +345 | +2.9% |
| 19 | BRK/B | Berkshire Hathaway Class B | — | — | — | — | $3.5M | 1.65% | +10 | +0.1% |
| 20 | FNV | Franco-Nevada Corp | $218.74 | -7.31% | 31.34% | 42.76% | $3.4M | 1.65% | +188 | +1.4% |
| 21 | SO | Southern Company | $92.60 | 1.07% | 8.35% | 74.38% | $3.2M | 1.52% | — | HELD |
| 22 | DUK | Duke Energy Corp | $124.22 | 1.97% | 11.57% | 43.36% | $2.9M | 1.41% | +250 | +1.1% |
| 23 | NU | Nu Holdings Ltd. | $11.97 | -1.24% | -1.48% | 61.32% | $2.5M | 1.21% | −7,225 | −3.9% |
| 24 | CSCO | Cisco Systems, Inc. | $121.64 | -6.43% | 88.37% | 153.46% | $2.4M | 1.15% | — | HELD |
| 25 | SLB | SLB | $54.87 | -5.41% | 67.83% | 112.39% | $2.3M | 1.09% | +7,700 | +21.3% |
| 26 | BWXT | BWX Technologies Inc | — | — | 44.15% | 242.83% | $2.2M | 1.04% | +140 | +1.3% |
| 27 | AAPL | Apple Inc. | $307.34 | -1.25% | 51.31% | 116.17% | $1.9M | 0.91% | −200 | −2.6% |
| 28 | CVX | Chevron Corp. | $187.31 | -0.55% | 39.19% | 125.88% | $1.9M | 0.89% | — | HELD |
| 29 | DHR | Danaher Corp | $184.30 | -1.25% | -5.33% | -28.54% | $1.7M | 0.81% | +340 | +4.0% |
| 30 | CPNG | Coupang, Inc. | $15.15 | -8.35% | -46.75% | -58.29% | $1.7M | 0.79% | +1,335 | +1.5% |
| 31 | BRW | Saba Capital Income & Opportunities Fund | $6.79 | 1.33% | — | — | $1.6M | 0.78% | +14,885 | +6.6% |
| 32 | BA | Boeing | $215.45 | -0.91% | — | — | $1.6M | 0.75% | −100 | −1.3% |
| 33 | CNI | Canadian National Railway Co. | $120.38 | 0.74% | — | — | $1.4M | 0.67% | — | HELD |
| 34 | BAM | Brookfield Asset Management Ltd. | $46.41 | 0.50% | — | — | $1.4M | 0.67% | −10,707 | −25.4% |
| 35 | XOM | ExxonMobil Corp | $149.92 | -1.39% | — | — | $1.4M | 0.66% | — | HELD |
| 36 | MU | Micron Technology, Inc. | $864.01 | -13.25% | — | — | $1.2M | 0.59% | +2,885 | +384.7% |
| 37 | BXMT | Blackstone Mortgage Trust | $18.35 | -0.54% | — | — | $1.2M | 0.58% | −829 | −1.3% |
| 38 | BMY | Bristol-Myers Squibb | $57.27 | 1.18% | — | — | $1.1M | 0.54% | −50 | −0.3% |
| 39 | EQT | EQT Corporation | $53.75 | -2.70% | — | — | $1.1M | 0.54% | +3,750 | +26.9% |
| 40 | BTI | British American Tobacco ADR | $59.72 | 3.23% | — | — | $1.0M | 0.49% | +1,605 | +10.3% |
| 41 | TPL | Texas Pacific Land Corp | $400.77 | 2.82% | — | — | $947K | 0.45% | +670 | +50.6% |
| 42 | LLY | Eli Lilly & Company | $1131.42 | 0.55% | — | — | $928K | 0.44% | +183 | +22.2% |
| 43 | ED | Consolidated Edison | $106.26 | 2.09% | — | — | $890K | 0.43% | −100 | −1.3% |
| 44 | HSY | Hershey Co | $184.58 | 1.02% | — | — | $858K | 0.41% | +895 | +27.7% |
| 45 | HON | Honeywell International Inc. | $213.97 | -1.69% | — | — | $820K | 0.39% | +2,015 | +125.1% |
| 46 | OPCH | Option Care Health Inc | $20.51 | 2.19% | — | — | $819K | 0.39% | +9,525 | +45.6% |
| 47 | LB | Landbridge Co LLC Class A | $72.72 | 3.47% | — | — | $779K | 0.37% | +11,285 | NEW |
| 48 | CL | Colgate-Palmolive Co | $88.58 | 4.09% | — | — | $751K | 0.36% | — | HELD |
| 49 | BEP | Brookfield Renewable LP | $36.52 | -0.27% | — | — | $734K | 0.35% | — | HELD |
| 50 | D | Dominion Resources, Inc | $66.90 | 0.60% | — | — | $729K | 0.35% | +100 | +0.9% |
| 51 | PM | Philip Morris International Inc. | $178.29 | 1.89% | — | — | $707K | 0.34% | — | HELD |
| 52 | AMRZ | Amrize Ltd | $53.58 | -1.43% | — | — | $703K | 0.34% | +1,680 | +15.4% |
| 53 | ENB | Enbridge Inc | $56.31 | -0.76% | — | — | $693K | 0.33% | — | HELD |
| 54 | WBI | WaterBridge Infrastructure LLC | $30.18 | 2.51% | — | — | $660K | 0.32% | +24,625 | NEW |
| 55 | PCG | PG&E Corporation | $17.11 | 1.72% | — | — | $643K | 0.31% | — | HELD |
| 56 | WRB | W. R. Berkley Corporation | $67.63 | -1.37% | — | — | $598K | 0.29% | −3,685 | −29.0% |
| 57 | MLM | Martin Marietta Matr | $575.83 | -0.87% | — | — | $598K | 0.29% | — | HELD |
| 58 | CEFS | Saba Closed End Funds ETF | $24.97 | -2.31% | — | — | $589K | 0.28% | — | HELD |
| 59 | KMB | Kimberly-Clark Corp | $99.04 | 4.84% | — | — | $587K | 0.28% | — | HELD |
| 60 | EIX | Edison International | $73.33 | 2.12% | — | — | $585K | 0.28% | — | HELD |
| 61 | EPD | Enterprise Products Partners L.P. | $37.81 | -0.97% | — | — | $555K | 0.27% | — | HELD |
| 62 | PG | Procter & Gamble | $146.54 | 4.09% | — | — | $545K | 0.26% | — | HELD |
| 63 | DE | Deere & Co | $583.44 | -1.40% | — | — | $520K | 0.25% | — | HELD |
| 64 | USFR | WisdomTree Floating Rate Treasury Fund | $50.40 | 0.01% | — | — | $478K | 0.23% | −6,505 | −40.7% |
| 65 | KO | Coca-Cola Company | $79.48 | 3.46% | — | — | $431K | 0.21% | — | HELD |
| 66 | RSPA | Invesco S&P 500 Equal Weight Income Advantage ETF | $52.64 | 0.08% | — | — | $400K | 0.19% | +8,000 | NEW |
| 67 | AMAT | Applied Materials | $453.01 | -9.71% | — | — | $391K | 0.19% | — | HELD |
| 68 | BINC | iShares Flexible Income Active ETF | $52.02 | -0.19% | — | — | $379K | 0.18% | +7,300 | NEW |
| 69 | SLQD | iShares 0-5 Year Investment Grade Corporate Bond ETF | $50.17 | 0.08% | — | — | $333K | 0.16% | −1,200 | −15.4% |
| 70 | EFAA | Invesco MSCI EAFE Income Advantage ETF | $54.51 | -1.98% | — | — | $316K | 0.15% | +6,000 | NEW |
| 71 | UTF | Cohen & Steers Infrastructure Fund | $27.26 | 0.41% | — | — | $282K | 0.13% | — | HELD |
| 72 | CMC | Commercial Metals Co | $74.29 | 0.18% | — | — | $280K | 0.13% | — | HELD |
| 73 | DLY | DoubleLine Yield Opportunities Fund | $13.82 | 0.00% | — | — | $274K | 0.13% | +6,684 | +51.4% |
| 74 | VNOM | Viper Energy Inc New Class A | $46.01 | 1.21% | — | — | $267K | 0.13% | +5,680 | NEW |
| 75 | WMB | The Williams Companies, Inc. | $71.96 | -0.65% | — | — | $263K | 0.13% | — | HELD |
| 76 | RTX | Raytheon Technologies Co | $180.99 | 0.88% | — | — | $251K | 0.12% | — | HELD |
| 77 | P | Pure Storage, Inc. | $72.17 | -8.08% | — | — | $243K | 0.12% | +4,110 | NEW |
| 78 | GRAB | Grab Holdings Ltd. | $3.33 | -0.30% | — | — | $241K | 0.12% | −35,000 | −34.7% |
| 79 | CW | Curtiss Wright Corp | $733.14 | -1.38% | — | — | $240K | 0.11% | +352 | NEW |
| 80 | WIP | SPDR FTSE International Government Inflation-Protected Bond ETF | $39.69 | -1.15% | — | — | $238K | 0.11% | +6,000 | NEW |
| 81 | BEPC | Brookfield Renewable Corp | $39.31 | 1.51% | — | — | $228K | 0.11% | −27 | −0.5% |
| 82 | GNRC | Generac Holdings Inc | $261.54 | -5.97% | — | — | $211K | 0.10% | +1,080 | NEW |
| 83 | VWOB | Vanguard Emerging Markets Government Bond ETF | $66.56 | -0.64% | — | — | $200K | 0.10% | — | HELD |
| 84 | MWA | Mueller Water Products, Inc. | $25.33 | 0.96% | — | — | $199K | 0.10% | +7,225 | NEW |
| 85 | GRNB | VanEck Green Bond ETF | $23.97 | -0.31% | — | — | $198K | 0.09% | — | HELD |
| 86 | SNOW | Snowflake Inc. | $238.26 | -2.42% | — | — | $195K | 0.09% | — | HELD |
| 87 | ABBV | Abbvie Inc | $227.23 | 1.02% | — | — | $195K | 0.09% | — | HELD |
| 88 | L | Loews Corp | $106.56 | -0.94% | — | — | $181K | 0.09% | −300 | −15.0% |
| 89 | AMZN | Amazon Com Inc | $246.03 | -3.06% | — | — | $177K | 0.08% | −120 | −12.4% |
| 90 | INTC | Intel Corp | $99.17 | -11.28% | — | — | $177K | 0.08% | +4,000 | NEW |
| 91 | ISRG | Intuitive Surgical | $422.06 | 0.77% | — | — | $173K | 0.08% | — | HELD |
| 92 | JEPI | JPMorgan Equity Premium Income ETF | $55.52 | -0.34% | — | — | $170K | 0.08% | −2,000 | −40.0% |
| 93 | PGX | Invesco Preferred ETF | $10.91 | -0.27% | — | — | $159K | 0.08% | +3,000 | +25.9% |
| 94 | COST | Costco Wholesale Co | $971.87 | -0.05% | — | — | $135K | 0.06% | −15 | −10.0% |
| 95 | STIP | iShares 0-5 Year TIPS Bond ETF | $102.28 | -0.23% | — | — | $103K | 0.05% | −3,060 | −75.4% |
| 96 | ATAI | AtaiBeckley Inc | $3.95 | -12.22% | — | — | $39K | 0.02% | +10,973 | NEW |
| 97 | TIC | TIC Solutions, Inc. | $8.50 | 1.43% | — | — | $13K | 0.01% | −41,500 | −95.4% |
| 98 | SPSB | State Street SPDR Portfolio Short Term Corporate Bond ETF | $29.92 | 0.05% | — | — | — | — | −14,543 | EXITED |
| 99 | BSCS | Invesco BulletShares 2028 Corporate Bond ETF | $20.36 | -0.20% | — | — | — | — | −21,290 | EXITED |
| 100 | IBDT | iShares iBonds December 2028 Term ETF | $25.15 | -0.24% | — | — | — | — | −17,180 | EXITED |
| 101 | BGB | Blackstone Strategic Credit 2027 Term Fund | — | — | — | — | — | — | −10,000 | EXITED |
Source: SEC EDGAR · accession 0001698926-26-000002. 13F discloses long positions only — shorts, foreign equities, and options are excluded.