Q4 2025 · 13F-HR
Adalta Capital Management LLCholdings as filed
Filed 2026-02-17 · accession 0001698926-26-000001
$224.0M
Reported value
88
Positions
2025-12-31
Period end
The Brief · Adalta Capital Management LLC · Q4 2025
AI · grounded in 13F
Adalta Capital Management LLC closed its position in Applovin Corp Class A APP, reducing its exposure by $804,765. The fund established new positions in Option Care Health Inc OPCH for $665,237 and Amrize Ltd for $589,472. Additionally, the manager trimmed holdings in Alphabet Inc. Class A GOOGL and Mercadolibre Inc MELI.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corporation | $21.9M | 9.76% | 45,228 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co | $15.4M | 6.86% | 47,680 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Class A | $13.5M | 6.04% | 43,249 | Common | SOLE |
| 09260D107 | BX | Blackstone Group Inc | $13.5M | 6.01% | 87,391 | Common | SOLE |
| 11271J107 | BN | Brookfield Corp F Class A | $12.2M | 5.46% | 266,476 | Common | SOLE |
| 437076102 | HD | Home Depot | $10.1M | 4.49% | 29,217 | Common | SOLE |
| 747525103 | QCOM | Qualcomm Inc. | $9.6M | 4.27% | 55,911 | Common | SOLE |
| 58933Y105 | MRK | Merck & Co. Inc. | $9.5M | 4.24% | 89,580 | Common | SOLE |
| 025816109 | AXP | American Express Co. | $8.6M | 3.84% | 23,243 | Common | SOLE |
| 71742W103 | PFX | PhenixFIN Corporation | $7.8M | 3.50% | 175,569 | Common | SOLE |
| 907818108 | UNP | Union Pacific Corp. | $7.8M | 3.48% | 33,685 | Common | SOLE |
| 40131M109 | GH | Guardant Health, Inc. | $6.5M | 2.89% | 63,288 | Common | SOLE |
| 570535104 | MKL | Markel Group Inc. | $5.9M | 2.62% | 2,732 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd | $5.3M | 2.36% | 55,031 | Common | SOLE |
| 58733R102 | MELI | Mercadolibre Inc | $4.3M | 1.92% | 2,132 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Co REIT | $4.0M | 1.77% | 167,482 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc. Class C | $3.8M | 1.69% | 12,084 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Class B | $3.6M | 1.61% | 7,193 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $3.6M | 1.59% | 17,221 | Common | SOLE |
| G6683N103 | NU | Nu Holdings Ltd. | $3.1M | 1.37% | 183,100 | Common | SOLE |
| 842587107 | SO | Southern Company | $2.9M | 1.28% | 32,838 | Common | SOLE |
| 351858105 | FNV | Franco-Nevada Corp | $2.9M | 1.27% | 13,758 | Common | SOLE |
| 26441C204 | DUK | Duke Energy Corp | $2.6M | 1.16% | 22,225 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems, Inc. | $2.4M | 1.07% | 31,024 | Common | SOLE |
| 113004105 | BAM | Brookfield Asset Management Ltd. | $2.2M | 0.99% | 42,178 | Common | SOLE |
| 037833100 | AAPL | Apple Inc. | $2.1M | 0.93% | 7,700 | Common | SOLE |
| 22266T109 | CPNG | Coupang, Inc. | $2.0M | 0.91% | 86,466 | Common | SOLE |
| 235851102 | DHR | Danaher Corp | $2.0M | 0.87% | 8,524 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $1.8M | 0.81% | 10,483 | Common | SOLE |
| 097023105 | BA | Boeing | $1.7M | 0.77% | 7,950 | Common | SOLE |
| 78518H202 | BRW | Saba Capital Income & Opportunities Fund | $1.6M | 0.71% | 225,787 | Common | SOLE |
| 806857108 | SLB | SLB | $1.4M | 0.62% | 36,194 | Common | SOLE |
| 166764100 | CVX | Chevron Corp. | $1.4M | 0.61% | 8,969 | Common | SOLE |
| 136375102 | CNI | Canadian National Railway Co. | $1.4M | 0.60% | 13,700 | Common | SOLE |
| 09257W100 | BXMT | Blackstone Mortgage Trust | $1.2M | 0.55% | 62,360 | Common | SOLE |
| 110122108 | BMY | Bristol-Myers Squibb | $1.0M | 0.45% | 18,622 | Common | SOLE |
| 30231G102 | XOM | ExxonMobil Corp | $977,281 | 0.44% | 8,121 | Common | SOLE |
| 110448107 | BTI | British American Tobacco ADR | $891,234 | 0.40% | 15,515 | Common | SOLE |
| 084423102 | WRB | W. R. Berkley Corporation | $890,875 | 0.40% | 12,705 | Common | SOLE |
| 532457108 | LLY | Eli Lilly & Company | $887,686 | 0.40% | 826 | Common | SOLE |
| 97717Y527 | USFR | WisdomTree Floating Rate Treasury Fund | $805,120 | 0.36% | 16,000 | Common | SOLE |
| 209115104 | ED | Consolidated Edison | $791,282 | 0.35% | 7,967 | Common | SOLE |
| 26884L109 | EQT | EQT Corporation | $746,112 | 0.33% | 13,920 | Common | SOLE |
| 194162103 | CL | Colgate-Palmolive Co | $696,166 | 0.31% | 8,810 | Common | NONE |
| 718172109 | PM | Philip Morris International Inc. | $686,329 | 0.31% | 4,240 | Common | SOLE |
| 25746U109 | D | Dominion Resources, Inc | $685,503 | 0.31% | 11,700 | Common | SOLE |
| 68404L201 | OPCH | Option Care Health Inc | $665,237 | 0.30% | 20,880 | Common | SOLE |
| 573284106 | MLM | Martin Marietta Matr | $632,000 | 0.28% | 1,015 | Common | SOLE |
| 494368103 | KMB | Kimberly-Clark Corp | $613,411 | 0.27% | 6,005 | Common | SOLE |
| 29250N105 | ENB | Enbridge Inc | $612,033 | 0.27% | 12,796 | Common | SOLE |
| G16258108 | BEP | Brookfield Renewable LP | $605,503 | 0.27% | 22,451 | Common | SOLE |
| 30151E806 | CEFS | Saba Closed End Funds ETF | $602,150 | 0.27% | 26,135 | Common | SOLE |
| H2927K103 | AMRZ | Amrize Ltd | $589,472 | 0.26% | 10,900 | Common | SOLE |
| 69331C108 | PCG | PG&E Corporation | $588,219 | 0.26% | 36,490 | Common | SOLE |
| 427866108 | HSY | Hershey Co | $587,977 | 0.26% | 3,231 | Common | SOLE |
| 742718109 | PG | Procter & Gamble | $540,279 | 0.24% | 3,770 | Common | SOLE |
| G4124C109 | GRAB | Grab Holdings Ltd. | $503,391 | 0.22% | 100,880 | Common | SOLE |
| 281020107 | EIX | Edison International | $480,160 | 0.21% | 8,000 | Common | SOLE |
| 293792107 | EPD | Enterprise Products Partners L.P. | $470,481 | 0.21% | 14,675 | Common | SOLE |
| 00510N102 | TIC | TIC Solutions, Inc. | $439,785 | 0.20% | 43,500 | Common | SOLE |
| 78464A474 | SPSB | State Street SPDR Portfolio Short Term Corporate Bond ETF | $439,199 | 0.20% | 14,543 | Common | SOLE |
| 46138J643 | BSCS | Invesco BulletShares 2028 Corporate Bond ETF | $438,574 | 0.20% | 21,290 | Common | SOLE |
| 46435U515 | IBDT | iShares iBonds December 2028 Term ETF | $437,317 | 0.20% | 17,180 | Common | SOLE |
| 244199105 | DE | Deere & Co | $429,815 | 0.19% | 920 | Common | SOLE |
| 46429B747 | STIP | iShares 0-5 Year TIPS Bond ETF | $415,703 | 0.19% | 4,060 | Common | SOLE |
| 46434V100 | SLQD | iShares 0-5 Year Investment Grade Corporate Bond ETF | $395,460 | 0.18% | 7,800 | Common | SOLE |
| 191216100 | KO | Coca-Cola Company | $393,244 | 0.18% | 5,625 | Common | SOLE |
| 88262P102 | TPL | Texas Pacific Land Corp | $380,567 | 0.17% | 1,325 | Common | SOLE |
| 201723103 | CMC | Commercial Metals Co | $315,989 | 0.14% | 4,565 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc. | $314,290 | 0.14% | 1,611 | Common | SOLE |
| 038222105 | AMAT | Applied Materials | $294,254 | 0.13% | 1,145 | Common | SOLE |
| 46641Q332 | JEPI | JPMorgan Equity Premium Income ETF | $288,335 | 0.13% | 5,000 | Common | SOLE |
| 833445109 | SNOW | Snowflake Inc. | $284,071 | 0.13% | 1,295 | Common | SOLE |
| 19248A109 | UTF | Cohen & Steers Infrastructure Fund | $262,799 | 0.12% | 10,900 | Common | SOLE |
| 75513E101 | RTX | Raytheon Technologies Co | $238,420 | 0.11% | 1,300 | Common | SOLE |
| 023135106 | AMZN | Amazon Com Inc | $223,895 | 0.10% | 970 | Common | SOLE |
| 11285B108 | BEPC | Brookfield Renewable Corp | $219,880 | 0.10% | 5,735 | Common | SOLE |
| 969457100 | WMB | The Williams Companies, Inc. | $217,298 | 0.10% | 3,615 | Common | SOLE |
| 595112103 | MU | Micron Technology, Inc. | $214,144 | 0.10% | 750 | Common | SOLE |
| 46120E602 | ISRG | Intuitive Surgical | $212,385 | 0.09% | 375 | Common | SOLE |
| 540424108 | L | Loews Corp | $210,620 | 0.09% | 2,000 | Common | NONE |
| 921946885 | VWOB | Vanguard Emerging Markets Government Bond ETF | $205,662 | 0.09% | 3,050 | Common | SOLE |
| 00287Y109 | ABBV | Abbvie Inc | $204,956 | 0.09% | 897 | Common | SOLE |
| 92189F171 | GRNB | VanEck Green Bond ETF | $200,764 | 0.09% | 8,250 | Common | SOLE |
| 25862D105 | DLY | DoubleLine Yield Opportunities Fund | $189,020 | 0.08% | 13,000 | Common | SOLE |
| 46138E511 | PGX | Invesco Preferred ETF | $130,339 | 0.06% | 11,596 | Common | SOLE |
| 22160K105 | COST | Costco Wholesale Co | $129,351 | 0.06% | 150 | Common | SOLE |
| 09257R101 | BGB | Blackstone Strategic Credit 2027 Term Fund | $118,570 | 0.05% | 10,000 | 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.