Q3 2025 · 13F-HR
Adalta Capital Management LLCholdings as filed
Filed 2025-11-17 · accession 0001698926-25-000007
$220.3M
Reported value
102
Positions
2025-09-30
Period end
The Brief · Adalta Capital Management LLC · Q3 2025
AI · grounded in 13F
Adalta Capital Management LLC closed its position in PYPL for a reduction of $462,270. The fund also exited positions in OCSL and VNOMUSD, while initiating a new position in USFR valued at $1,307,020. Additionally, the manager increased its holdings in Nu Holdings Ltd. by 36.46% and FNV by 10.47%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corporation | $23.6M | 10.7% | 45,531 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co | $15.2M | 6.90% | 48,212 | Common | SOLE |
| 09260D107 | BX | Blackstone Group Inc | $14.8M | 6.73% | 86,741 | Common | SOLE |
| 11271J107 | BN | Brookfield Corp F Class A | $11.9M | 5.39% | 173,101 | Common | SOLE |
| 437076102 | HD | Home Depot | $11.8M | 5.38% | 29,240 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Class A | $10.7M | 4.85% | 43,983 | Common | SOLE |
| 747525103 | QCOM | Qualcomm Inc. | $9.2M | 4.19% | 55,511 | Common | SOLE |
| 71742W103 | PFX | PhenixFIN Corporation | $8.2M | 3.73% | 172,939 | Common | SOLE |
| 907818108 | UNP | Union Pacific Corp. | $8.0M | 3.62% | 33,710 | Common | SOLE |
| 025816109 | AXP | American Express Co. | $7.8M | 3.53% | 23,400 | Common | SOLE |
| 58933Y105 | MRK | Merck & Co. Inc. | $7.6M | 3.47% | 90,180 | Common | SOLE |
| 570535104 | MKL | Markel Group Inc. | $5.2M | 2.37% | 2,732 | Common | SOLE |
| 58733R102 | MELI | Mercadolibre Inc | $5.1M | 2.30% | 2,167 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd | $4.8M | 2.18% | 52,929 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Co REIT | $4.5M | 2.03% | 180,682 | Common | SOLE |
| 40131M109 | GH | Guardant Health, Inc. | $4.0M | 1.80% | 63,288 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $3.2M | 1.45% | 17,237 | Common | SOLE |
| 351858105 | FNV | Franco-Nevada Corp | $3.2M | 1.43% | 14,158 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Class B | $3.1M | 1.41% | 6,193 | Common | SOLE |
| 842587107 | SO | Southern Company | $3.1M | 1.41% | 32,838 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc. Class C | $3.0M | 1.35% | 12,209 | Common | SOLE |
| G6683N103 | NU | Nu Holdings Ltd. | $2.9M | 1.30% | 179,200 | Common | SOLE |
| 26441C204 | DUK | Duke Energy Corp | $2.8M | 1.25% | 22,225 | Common | SOLE |
| 22266T109 | CPNG | Coupang, Inc. | $2.7M | 1.23% | 84,466 | Common | SOLE |
| 113004105 | BAM | Brookfield Asset Management Ltd. | $2.4M | 1.10% | 42,653 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $2.3M | 1.02% | 12,205 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems, Inc. | $2.1M | 0.96% | 31,024 | Common | SOLE |
| 037833100 | AAPL | Apple Inc. | $2.1M | 0.93% | 8,075 | Common | SOLE |
| 235851102 | DHR | Danaher Corp | $1.7M | 0.79% | 8,804 | Common | SOLE |
| 097023105 | BA | Boeing | $1.7M | 0.78% | 8,000 | Common | SOLE |
| 136375102 | CNI | Canadian National Railway Co. | $1.5M | 0.66% | 15,450 | Common | SOLE |
| 166764100 | CVX | Chevron Corp. | $1.4M | 0.63% | 8,969 | Common | SOLE |
| 78518H202 | BRW | Saba Capital Income & Opportunities Fund | $1.4M | 0.63% | 177,500 | Common | SOLE |
| 97717Y527 | USFR | WisdomTree Floating Rate Treasury Fund | $1.3M | 0.59% | 26,000 | Common | SOLE |
| 806857108 | SLB | SLB | $1.3M | 0.57% | 36,194 | Common | SOLE |
| 09257W100 | BXMT | Blackstone Mortgage Trust | $1.2M | 0.53% | 62,359 | Common | SOLE |
| 084423102 | WRB | W. R. Berkley Corporation | $925,953 | 0.42% | 12,085 | Common | SOLE |
| 30231G102 | XOM | ExxonMobil Corp | $915,643 | 0.42% | 8,121 | Common | SOLE |
| 110122108 | BMY | Bristol-Myers Squibb | $839,852 | 0.38% | 18,622 | Common | SOLE |
| 03831W108 | APP | Applovin Corp Class A | $804,765 | 0.37% | 1,120 | Common | SOLE |
| 209115104 | ED | Consolidated Edison | $800,843 | 0.36% | 7,967 | Common | SOLE |
| 25746U109 | D | Dominion Resources, Inc | $715,689 | 0.32% | 11,700 | Common | SOLE |
| 194162103 | CL | Colgate-Palmolive Co | $712,265 | 0.32% | 8,910 | Common | NONE |
| 718172109 | PM | Philip Morris International Inc. | $687,728 | 0.31% | 4,240 | Common | SOLE |
| 29250N105 | ENB | Enbridge Inc | $645,686 | 0.29% | 12,796 | Common | SOLE |
| 573284106 | MLM | Martin Marietta Matr | $639,734 | 0.29% | 1,015 | Common | SOLE |
| 427866108 | HSY | Hershey Co | $638,963 | 0.29% | 3,416 | Common | SOLE |
| 26884L109 | EQT | EQT Corporation | $615,059 | 0.28% | 11,300 | Common | SOLE |
| G4124C109 | GRAB | Grab Holdings Ltd. | $607,298 | 0.28% | 100,880 | Common | SOLE |
| 30151E806 | CEFS | Saba Closed End Funds ETF | $595,094 | 0.27% | 26,135 | Common | SOLE |
| 110448107 | BTI | British American Tobacco ADR | $589,719 | 0.27% | 11,110 | Common | SOLE |
| 742718109 | PG | Procter & Gamble | $582,180 | 0.26% | 3,789 | Common | SOLE |
| G16258108 | BEP | Brookfield Renewable LP | $579,011 | 0.26% | 22,451 | Common | SOLE |
| 69331C108 | PCG | PG&E Corporation | $551,182 | 0.25% | 36,490 | Common | SOLE |
| 532457108 | LLY | Eli Lilly & Company | $536,389 | 0.24% | 703 | Common | SOLE |
| 293792107 | EPD | Enterprise Products Partners L.P. | $458,887 | 0.21% | 14,675 | Common | SOLE |
| 281020107 | EIX | Edison International | $442,240 | 0.20% | 8,000 | Common | SOLE |
| 244199105 | DE | Deere & Co | $422,170 | 0.19% | 920 | Common | SOLE |
| 46429B747 | STIP | iShares 0-5 Year TIPS Bond ETF | $419,642 | 0.19% | 4,060 | Common | SOLE |
| 46434V100 | SLQD | iShares 0-5 Year Investment Grade Corporate Bond ETF | $396,474 | 0.18% | 7,800 | Common | SOLE |
| 191216100 | KO | Coca-Cola Company | $375,919 | 0.17% | 5,625 | Common | SOLE |
| 389637109 | GBTC | Grayscale Bitcoin Trust | $362,222 | 0.16% | 4,035 | Common | SOLE |
| 921946885 | VWOB | Vanguard Emerging Markets Government Bond ETF | $357,915 | 0.16% | 5,350 | Common | SOLE |
| 38964R203 | ETH | Grayscale Ethereum Mini | $352,816 | 0.16% | 9,005 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc. | $339,116 | 0.15% | 1,611 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies Inc | $302,237 | 0.14% | 3,085 | Common | SOLE |
| 833445109 | SNOW | Snowflake Inc. | $292,087 | 0.13% | 1,295 | Common | SOLE |
| 69608A108 | PLTR | Palantir Technologies Inc. | $287,676 | 0.13% | 1,577 | Common | SOLE |
| 46641Q332 | JEPI | JPMorgan Equity Premium Income ETF | $285,500 | 0.13% | 5,000 | Common | SOLE |
| 81141R100 | SE | Sea Limited | $277,032 | 0.13% | 1,550 | Common | NONE |
| 01609W102 | BABA | Alibaba Group ADR | $268,095 | 0.12% | 1,500 | Common | NONE |
| 201723103 | CMC | Commercial Metals Co | $261,483 | 0.12% | 4,565 | Common | SOLE |
| 92333F101 | VG | Venture Global Inc-CL A | $235,199 | 0.11% | 16,575 | Common | SOLE |
| 038222105 | AMAT | Applied Materials | $234,427 | 0.11% | 1,145 | Common | SOLE |
| 969457100 | WMB | The Williams Companies, Inc. | $229,010 | 0.10% | 3,615 | Common | SOLE |
| 75513E101 | RTX | Raytheon Technologies Co | $217,529 | 0.10% | 1,300 | Common | SOLE |
| 023135106 | AMZN | Amazon Com Inc | $212,983 | 0.10% | 970 | Common | SOLE |
| 00287Y109 | ABBV | Abbvie Inc | $212,091 | 0.10% | 916 | Common | SOLE |
| 389930207 | BTC | Grayscale Bitcoin Mini Trust ETF | $202,520 | 0.09% | 4,000 | Common | NONE |
| 92189F171 | GRNB | Vaneck Vectors Green Bond ETF | $201,548 | 0.09% | 8,250 | Common | SOLE |
| 11285B108 | BEPC | Brookfield Renewable Corp | $197,399 | 0.09% | 5,735 | Common | SOLE |
| 231561101 | CW | Curtiss Wright Corp | $191,199 | 0.09% | 352 | Common | SOLE |
| 624758108 | MWA | Mueller Water Products, Inc. | $184,382 | 0.08% | 7,225 | Common | SOLE |
| 368736104 | GNRC | Generac Holdings Inc | $180,792 | 0.08% | 1,080 | Common | SOLE |
| 595112103 | MU | Micron Technology, Inc. | $175,686 | 0.08% | 1,050 | Common | SOLE |
| 46654Q203 | JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | $172,560 | 0.08% | 3,000 | Common | SOLE |
| 46120E602 | ISRG | Intuitive Surgical | $167,711 | 0.08% | 375 | Common | SOLE |
| 00206R102 | T | AT&T | $163,366 | 0.07% | 5,785 | Common | NONE |
| 30303M102 | META | Meta Platforms, Inc. | $157,892 | 0.07% | 215 | Common | SOLE |
| 540424108 | L | Loews Corp | $150,585 | 0.07% | 1,500 | Common | NONE |
| 22160K105 | COST | Costco Wholesale Co | $143,473 | 0.07% | 155 | Common | SOLE |
| 707569109 | PENN | Penn NTNL Gaming | $140,598 | 0.06% | 7,300 | Common | SOLE |
| 25243Q205 | DEO | Diageo PLC ADR | $135,511 | 0.06% | 1,420 | Common | SOLE |
| 18915M107 | NET | CloudFlare, Inc. | $131,973 | 0.06% | 615 | Common | SOLE |
| 14448C104 | CARR | Carrier Global Corp | $130,385 | 0.06% | 2,184 | Common | SOLE |
| 494368103 | KMB | Kimberly-Clark Corp | $126,228 | 0.06% | 1,005 | Common | SOLE |
| 64361Q101 | VNOM | Viper Energy Inc New Class A | $121,540 | 0.06% | 3,180 | Common | SOLE |
| 552690109 | MDU | MDU Resources Group, Inc. | $114,073 | 0.05% | 6,355 | Common | SOLE |
| 370334104 | GIS | General Mills Inc | $100,840 | 0.05% | 2,000 | Common | SOLE |
| 94106L109 | WM | Waste Management Inc | $93,853 | 0.04% | 425 | Common | SOLE |
| 29605J106 | ESAB | ESAB Corp | $73,748 | 0.03% | 660 | Common | SOLE |
| 14040H105 | COF | Capital One Financial Corporation | $37,839 | 0.02% | 178 | 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.