Adalta Capital Management LLC Q3 2025 Filing

Filed November 17, 2025

Portfolio Value

$220.3B

Holdings

102

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (102 positions)

#StockSharesValue% PortfolioType
1
MSFTMicrosoft Corporation
45,531$23.6B10.71%
2
JPMJPMorgan Chase & Co
48,212$15.2B6.90%
3
BXBlackstone Group Inc
86,741$14.8B6.73%
4
BNBrookfield Corp F Class A
173,101$11.9B5.39%
5
HDHome Depot
29,240$11.8B5.38%
6
GOOGLAlphabet Inc. Class A
43,983$10.7B4.85%
7
QCOMQualcomm Inc.
55,511$9.2B4.19%
8
PFXPhenixFIN Corporation
172,939$8.2B3.73%
9
UNPUnion Pacific Corp.
33,710$8.0B3.62%
10
AXPAmerican Express Co.
23,400$7.8B3.53%
11
MRKMerck & Co. Inc.
90,180$7.6B3.47%
12
MKLMarkel Group Inc.
2,732$5.2B2.37%
13
MLB1Mercadolibre Inc
2,167$5.1B2.30%
14
ACGLArch Capital Group Ltd
52,929$4.8B2.18%
15
WYWeyerhaeuser Co REIT
180,682$4.5B2.03%
16
GHGuardant Health, Inc.
63,288$4.0B1.80%
17
JNJJohnson & Johnson
17,237$3.2B1.45%
18
FNVFranco-Nevada Corp
14,158$3.2B1.43%
19
BRK/BBerkshire Hathaway Class B
6,193$3.1B1.41%
20
SOSouthern Company
32,838$3.1B1.41%
21
GOOGAlphabet Inc. Class C
12,209$3.0B1.35%
22
NUNu Holdings Ltd.
179,200$2.9B1.30%
23
DUKDuke Energy Corp
22,225$2.8B1.25%
24
CPNGCoupang, Inc.
84,466$2.7B1.23%
25
BAMBrookfield Asset Management Ltd.
42,653$2.4B1.10%
26
BWXTBWX Technologies Inc
12,205$2.3B1.02%
27
CSCOCisco Systems, Inc.
31,024$2.1B0.96%
28
AAPLApple Inc.
8,075$2.1B0.93%
29
DHRDanaher Corp
8,804$1.7B0.79%
30
BABoeing
8,000$1.7B0.78%
31
CNRCanadian National Railway Co.
15,450$1.5B0.66%
32
CVXChevron Corp.
8,969$1.4B0.63%
33
BRWSaba Capital Income & Opportunities Fund
177,500$1.4B0.63%
34
USFRWisdomTree Floating Rate Treasury Fund
26,000$1.3B0.59%
35
SLBSLB
36,194$1.3B0.57%
36
BXMTBlackstone Mortgage Trust
62,359$1.2B0.53%
37
WRBW. R. Berkley Corporation
12,085$926.0M0.42%
38
XOMExxonMobil Corp
8,121$915.6M0.42%
39
BMYBristol-Myers Squibb
18,622$839.9M0.38%
40
APPApplovin Corp Class A
1,120$804.8M0.37%
41
EDConsolidated Edison
7,967$800.8M0.36%
42
DDominion Resources, Inc
11,700$715.7M0.32%
43
CLColgate-Palmolive Co
8,910$712.3M0.32%
44
4I1Philip Morris International Inc.
4,240$687.7M0.31%
45
ENBEnbridge Inc
12,796$645.7M0.29%
46
MLMMartin Marietta Matr
1,015$639.7M0.29%
47
HSYHershey Co
3,416$639.0M0.29%
48
EQTEQT Corporation
11,300$615.1M0.28%
49
GRABGrab Holdings Ltd.
100,880$607.3M0.28%
50
CEFSSaba Closed End Funds ETF
26,135$595.1M0.27%
51
BMTABritish American Tobacco ADR
11,110$589.7M0.27%
52
PGProcter & Gamble
3,789$582.2M0.26%
53
BEPBrookfield Renewable LP
22,451$579.0M0.26%
54
PCGPG&E Corporation
36,490$551.2M0.25%
55
LLYEli Lilly & Company
703$536.4M0.24%
56
EPDEnterprise Products Partners L.P.
14,675$458.9M0.21%
57
EIXEdison International
8,000$442.2M0.20%
58
DEDeere & Co
920$422.2M0.19%
59
STIPiShares 0-5 Year TIPS Bond ETF
4,060$419.6M0.19%
60
SLQDiShares 0-5 Year Investment Grade Corporate Bond ETF
7,800$396.5M0.18%
61
KOCoca-Cola Company
5,625$375.9M0.17%
62
GBTCGrayscale Bitcoin Trust
4,035$362.2M0.16%
63
VWOBVanguard Emerging Markets Government Bond ETF
5,350$357.9M0.16%
64
ETHGrayscale Ethereum Mini
9,005$352.8M0.16%
65
HONHoneywell International Inc.
1,611$339.1M0.15%
66
UBERUber Technologies Inc
3,085$302.2M0.14%
67
SNOWSnowflake Inc.
1,295$292.1M0.13%
68
PLTRPalantir Technologies Inc.
1,577$287.7M0.13%
69
JEPIJPMorgan Equity Premium Income ETF
5,000$285.5M0.13%
70
SESea Limited
1,550$277.0M0.13%
71
BABAAlibaba Group ADR
1,500$268.1M0.12%
72
CMCCommercial Metals Co
4,565$261.5M0.12%
73
VGVenture Global Inc-CL A
16,575$235.2M0.11%
74
AMATApplied Materials
1,145$234.4M0.11%
75
WMBThe Williams Companies, Inc.
3,615$229.0M0.10%
76
RTXRaytheon Technologies Co
1,300$217.5M0.10%
77
AMZNAmazon Com Inc
970$213.0M0.10%
78
ABBVAbbvie Inc
916$212.1M0.10%
79
BTCGrayscale Bitcoin Mini Trust ETF
4,000$202.5M0.09%
80
GRNBVaneck Vectors Green Bond ETF
8,250$201.5M0.09%
81
BEPCBrookfield Renewable Corp
5,735$197.4M0.09%
82
CWCurtiss Wright Corp
352$191.2M0.09%
83
JT5Mueller Water Products, Inc.
7,225$184.4M0.08%
84
GNRCGenerac Holdings Inc
1,080$180.8M0.08%
85
MUMicron Technology, Inc.
1,050$175.7M0.08%
86
JEPQJPMorgan Nasdaq Equity Premium Income ETF
3,000$172.6M0.08%
87
ISRGIntuitive Surgical
375$167.7M0.08%
88
TAT&T
5,785$163.4M0.07%
89
METAMeta Platforms, Inc.
215$157.9M0.07%
90
LLoews Corp
1,500$150.6M0.07%
91
COSTCostco Wholesale Co
155$143.5M0.07%
92
PENNPenn NTNL Gaming
7,300$140.6M0.06%
93
DEODiageo PLC ADR
1,420$135.5M0.06%
94
NETCloudFlare, Inc.
615$132.0M0.06%
95
CARRCarrier Global Corp
2,184$130.4M0.06%
96
KMBKimberly-Clark Corp
1,005$126.2M0.06%
97
VNOMViper Energy Inc New Class A
3,180$121.5M0.06%
98
MDUMDU Resources Group, Inc.
6,355$114.1M0.05%
99
GISGeneral Mills Inc
2,000$100.8M0.05%
100
WMWaste Management Inc
425$93.9M0.04%
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