AC
Adalta Capital Management LLC 13F Filing (Q2 2026) — Top Positions & Stock Picks
Adalta Capital Management LLCCIK: 0001698926
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$227.8M
Reporting period: 2026-06-30 · Number of holdings: 126
Adalta Capital Management LLC disclosed 126 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $227.8M and a quarterly turnover rate of 14.3%.
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Personality snowflake
- Concentration
- 12.91
- Portfolio Stability
- 14.35
- Momentum
- 100
- Sector conviction
- 47.13
- Diversification
- 100
- Sizing Uniformity
- 84.68
Adalta Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 equally-sized positions, well below its 126 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.53), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd GH
-1.9% $3.4M
Add MU
-1.7% $2.9M
Add QCOM
-2.2% $2.8M
Trim MSFT
-2.7% -$279.2K
Add CSCO
0.0% $1.2M
Trim BX
-2.8% -$55.9K
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 103 holdings (of 126 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | JPM | Jpmorgan Chase & Co | Stock-Financials | 6.77% | +0.07% | -1.11% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 6.29% | -0.70% | -2.66% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.69% | +0.41% | -5.57% | |
| 4 | MRK | Merck & Co. Inc. | Stock-Healthcare | 4.94% | -0.19% | -1.83% | |
| 5 | BN | Brookfield CORP | Stock-Financials | 4.75% | -0.38% | -4.20% | |
| 6 | BX | Blackstone Inc | Stock-Financials | 4.35% | -0.42% | -2.83% | |
| 7 | HD | Home Depot Inc | Stock-Consumer Disc | 4.31% | -0.28% | -4.72% | |
| 8 | QCOM | Qualcomm Inc | Stock-Tech | 4.24% | +0.95% | -2.22% | |
| 9 | UNP | Union Pacific CORP | Stock-Industrials | 4.02% | +0.11% | — | |
| 10 | GH | Guardant Health Inc | Stock-Healthcare | 3.97% | +1.25% | -1.89% | |
| 11 | PFX | Phenixfin CORP | Stock-Other | 3.30% | +0.02% | +0.57% | |
| 12 | AXP | American Express Co | Stock-Financials | 3.16% | -0.10% | -5.30% | |
| 13 | MKL | Markel Group Inc | Stock-Financials | 2.34% | -0.20% | -1.55% | |
| 14 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 2.26% | -0.22% | -1.81% | |
| 15 | MELI | Mercadolibre Inc | Stock-Consumer Disc | 2.20% | — | +10.86% | |
| 16 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.85% | +0.14% | -3.86% | |
| 17 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.83% | -0.17% | -4.01% | |
| 18 | MU | Micron Technology Inc | Stock-Tech | 1.81% | +1.22% | -1.71% | |
| 19 | WY | Weyerhaeuser Co | Stock-Real Estate | 1.79% | -0.25% | -2.32% | |
| 20 | CSCO | Cisco Systems Inc | Stock-Tech | 1.60% | +0.45% | — | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.58% | -0.07% | — | |
| 22 | SO | Southern Co/the | Stock-Utilities | 1.38% | -0.14% | -0.08% | |
| 23 | FNV | Franco-nevada CORP | Stock-Materials | 1.27% | -0.38% | -0.67% | |
| 24 | DUK | Duke Energy CORP | Stock-Utilities | 1.23% | -0.18% | -1.53% | |
| 25 | NU | Nu Holdings Ltd. | Stock-Financials | 0.98% | -0.23% | -5.00% | |
| 26 | BWXT | Bwx Technologies Inc | Stock-Industrials | 0.90% | -0.14% | -0.61% | |
| 27 | SLB | Slb LTD | Stock-Energy | 0.87% | -0.22% | -3.26% | |
| 28 | DHR | Danaher CORP | Stock-Healthcare | 0.81% | — | +9.00% | |
| 29 | AAPL | Apple Inc | Stock-Tech | 0.77% | -0.14% | -18.73% | |
| 30 | BA | Boeing Co/the | Stock-Industrials | 0.72% | -0.03% | -3.82% | |
| 31 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.72% | +0.05% | — | |
| 32 | BRW | Saba Capital Income & Opport | Stock-Other | 0.72% | -0.06% | +3.06% | |
| 33 | CVX | Chevron CORP | Stock-Energy | 0.63% | -0.26% | -2.90% | |
| 34 | CPNG | Coupang Inc | Stock-Consumer Disc | 0.63% | -0.16% | -5.59% | |
| 35 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.59% | -0.08% | -4.71% | |
| 36 | AMAT | Applied Materials Inc | Stock-Tech | 0.57% | +0.38% | +57.21% | |
| 37 | USFR | Wisdomtree Floating Rate Tre | ETF-Other | 0.47% | +0.24% | +125.33% | |
| 38 | XOM | Exxon Mobil CORP | Stock-Energy | 0.47% | -0.19% | -3.28% | |
| 39 | BXMT | Blackstone Mortgage Tru-cl A | Stock-Real Estate | 0.47% | -0.11% | +0.00% | |
| 40 | TPL | Texas Pacific Land CORP | Stock-Energy | 0.46% | +0.01% | +19.55% | |
| 41 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 0.46% | -0.03% | -1.52% | |
| 42 | LB | Landbridge Co Llc-a | Stock-Other | 0.44% | +0.07% | +12.85% | |
| 43 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.42% | -0.12% | -10.95% | |
| 44 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.40% | -0.04% | -24.38% | |
| 45 | WBI | Waterbridge Infrastruc-cl A | Stock-Other | 0.37% | +0.05% | +1.02% | |
| 46 | EQT | Eqt CORP | Stock-Energy | 0.37% | -0.17% | -10.05% | |
| 47 | PM | Philip Morris International | Stock-Consumer Staples | 0.36% | +0.02% | +7.08% | |
| 48 | ED | Consolidated Edison Inc | Stock-Utilities | 0.36% | -0.07% | -5.08% | |
| 49 | D | Dominion Energy Inc | Stock-Utilities | 0.35% | — | +0.30% | |
| 50 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.35% | -0.01% | — |
1–50 of 103
Portfolio Performance
Performance for Q3 2026
+5.2%
Performance Last 4 Quarters
+13.4%
- Stdev
- +12.5%
- Beta
- +0.9
- Alpha
- -2.8%
- Max Drawdown
- -8.2%
- Annualized Perf
- +15.5%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.28
- Stutzer
- +0.36
- Treynor
- +0.17
- Sterling
- +0.93
- Calmar
- +1.89
- Information Ratio
- -1.03
- Tracking Error
- +4.7%
- Stdev Down
- +6.7%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +29.9%
- Worst 12 Months
- +3.3%
- Efficiency Ratio
- +0.47
- Sharpe
- +1.22
- Stdev Sectors
- +7.8%
- Skewness
- -0.14
- Kurtosis
- -0.74
- Upside Potential
- +3.99
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 126 | $227.8M | 14 | ||
| 2026 Q1 | 120 | $209.1M | 21 | ||
| 2025 Q4 | 111 | $224.0M | 15 | ||
| 2025 Q3 | 126 | $220.3M | 23 | ||
| 2025 Q2 | 121 | $199.3M | 0 | ||
| 2025 Q1 | 126 | $187.8M | 100 | ||
| 2024 Q4 | 124 | $191.5M | 0 | ||
| 2024 Q3 | 121 | $193.9M | 0 | ||
| 2024 Q2 | 127 | $183.9M | 0 | ||
| 2024 Q1 | 126 | $181.1M | 0 | ||
| 2023 Q4 | 121 | $165.4M | 0 | ||
| 2023 Q3 | 112 | $146.7M | 0 | ||
| 2023 Q2 | 108 | $149.6M | 0 | ||
| 2023 Q1 | 105 | $143.0M | 0 | ||
| 2022 Q4 | 112 | $141.8M | 0 | ||
| 2022 Q3 | 114 | $139.2M | 0 | ||
| 2022 Q2 | 127 | $154.0M | 0 | ||
| 2022 Q1 | 126 | $200.5M | 0 | ||
| 2021 Q4 | 113 | $216.9M | 0 | ||
| 2021 Q3 | 120 | $180.7M | 0 | ||
| 2021 Q2 | 122 | $183.6M | 12 | ||
| 2021 Q1 | 125 | $173.3M | 17 | ||
| 2020 Q4 | 106 | $158.5M | 21 | ||
| 2020 Q3 | 97 | $137.1M | 15 | ||
| 2020 Q2 | 93 | $125.5M | 25 | ||
| 2020 Q1 | 101 | $110.1M | 43 | ||
| 2019 Q4 | 118 | $159.0M | 14 | ||
| 2019 Q3 | 123 | $151.0M | 24 | ||
| 2019 Q2 | 126 | $152.2M | 29 | ||
| 2019 Q1 | 113 | $132.2M | 24 | ||
| 2018 Q4 | 110 | $107.1M | 37 | ||
| 2018 Q3 | 124 | $140.1M | 29 | ||
| 2018 Q2 | 124 | $141.6M | 22 | ||
| 2018 Q1 | 118 | $131.0M | 10 | ||
| 2017 Q4 | 120 | $131.4M | 20 | ||
| 2017 Q3 | 113 | $122.5M | 14 | ||
| 2017 Q2 | 123 | $123.9M | 13 | ||
| 2017 Q1 | 119 | $118.2M | 0 |
Holding changes this quarter
Adalta Capital Management LLC's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: Blackrock Hlth Sci Trm Tr Ii (BMEZ); New buy: ; New buy: ; New buy: Servicenow Inc (NOW).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GH | Guardant Health Inc | +1.3% | -1.89% | Trim |
| 2 | MU | Micron Technology Inc | +1.2% | -1.71% | Trim |
| 3 | QCOM | Qualcomm Inc | +1% | -2.22% | Trim |
| 4 | CSCO | Cisco Systems Inc | +0.5% | — | Unchanged |
| 5 | GOOGL | Alphabet Inc-cl A | +0.4% | -5.57% | Trim |
| 6 | AMAT | Applied Materials Inc | +0.4% | +57.21% | Add |
| 7 | INTC | Intel CORP | +0.3% | +37.50% | Add |
| 8 | BMEZ | Blackrock Hlth Sci Trm Tr Ii | +0.3% | NEW | New buy |
| 9 | USFR | Wisdomtree Floating Rate Tre | +0.2% | +125.33% | Add |
| 10 | ✓ | +0.2% | NEW | New buy | |
| 11 | ✓ | +0.2% | NEW | New buy | |
| 12 | NOW | Servicenow Inc | +0.2% | NEW | New buy |
| 13 | GOOG | Alphabet Inc-cl C | +0.1% | -3.86% | Trim |
| 14 | VRSN | Verisign Inc | +0.1% | NEW | New buy |
| 15 | UNP | Union Pacific CORP | +0.1% | — | Unchanged |
| 16 | NVDA | Nvidia CORP | +0.1% | NEW | New buy |
| 17 | CB | Chubb Limited | +0.1% | NEW | New buy |
| 18 | BSTZ | Blackrock Sci & Tech Trm Tr | +0.1% | NEW | New buy |
| 19 | GLW | Corning Inc | +0.1% | NEW | New buy |
| 20 | JPM | Jpmorgan Chase & Co | +0.1% | -1.11% | Trim |
| 21 | LB | Landbridge Co Llc-a | +0.1% | +12.85% | Add |
| 22 | NML | Neuberger Energy Infrastruct | +0.1% | NEW | New buy |
| 23 | CNI | Canadian Natl Railway Co | +0.1% | — | Unchanged |
| 24 | WBI | Waterbridge Infrastruc-cl A | +0.1% | +1.02% | Add |
| 25 | SNOW | Snowflake Inc | +0.1% | — | Unchanged |
| 26 | ATAI | Ataibeckley Inc | +0.1% | +188.99% | Add |
| 27 | GNRC | Generac Holdings Inc | 0% | — | Unchanged |
| 28 | OBE | Obsidian Energy LTD | 0% | NEW | New buy |
| 29 | AMZN | Amazon.com Inc | 0% | +18.24% | Add |
| 30 | OPEN | Opendoor Technologies Inc | 0% | NEW | New buy |
| 31 | PFX | Phenixfin CORP | 0% | +0.57% | Add |
| 32 | PM | Philip Morris International | 0% | +7.08% | Add |
| 33 | UTF | Cohen & Steers Infrastructur | 0% | +12.48% | Add |
| 34 | TPL | Texas Pacific Land CORP | 0% | +19.55% | Add |
| 35 | CEFS | Saba Closed End Funds ETF | 0% | — | Unchanged |
| 36 | KMB | Kimberly-clark CORP | 0% | — | Unchanged |
| 37 | P | Everpure Inc-a | 0% | -7.91% | Trim |
| 38 | ABBV | Abbvie Inc | 0% | — | Unchanged |
| 39 | CW | Curtiss-wright CORP | 0% | — | Unchanged |
| 40 | MELI | Mercadolibre Inc | — | +10.86% | Add |
| 41 | DHR | Danaher CORP | — | +9.00% | Add |
| 42 | D | Dominion Energy Inc | — | +0.30% | Add |
| 43 | CMC | Commercial Metals Co | — | — | Unchanged |
| 44 | GRNB | Vaneck Green Bond ETF | — | — | Unchanged |
| 45 | CL | Colgate-palmolive Co | 0% | — | Unchanged |
| 46 | KO | Coca-cola Co/the | 0% | — | Unchanged |
| 47 | ISRG | Intuitive Surgical Inc | 0% | — | Unchanged |
| 48 | TIC | Tic Solutions Inc | 0% | EXIT | Sold out |
| 49 | COST | Costco Wholesale CORP | 0% | -3.70% | Trim |
| 50 | WMB | Williams Cos Inc | 0% | — | Unchanged |
1–50 of 109
Filing History
FAQ
What is Adalta Capital Management LLC and what type of investor is it?
Adalta Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $227.8M, spread across 126 disclosed positions.
What are Adalta Capital Management LLC's largest equity positions?
Based on the latest 13F filing, Adalta Capital Management LLC's top holdings by market value are:
1. Jpmorgan Chase & Co (JPM) — $15.4M (6.8%)
2. Microsoft CORP (MSFT) — $14.3M (6.3%)
3. Alphabet Inc-cl A (GOOGL) — $13.0M (5.7%)
4. Merck & Co. Inc. (MRK) — $11.2M (4.9%)
5. Brookfield CORP (BN) — $10.8M (4.8%)
What changes did Adalta Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Adalta Capital Management LLC made 83 notable position adjustments: 12 new positions were initiated, 16 existing holdings were added to, 49 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: Blackrock Hlth Sci Trm Tr Ii (BMEZ); New buy: ; New buy: ; New buy: Servicenow Inc (NOW)
What sectors does Adalta Capital Management LLC focus on?
Adalta Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 28.2%
• Information Technology: 18.2%
• Health Care: 14.1%
• Communication Services: 8.3%
• Consumer Discretionary: 8.0%
• Industrials: 7.9%
Investment Profile
Adalta Capital Management LLC returned an annualized 15.5% over the trailing 36 months — underperforming the S&P 500 by 2.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.90 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its MU position over the past two quarters (+$3.9M, now $4.1M), while trimming MSFT over the same stretch (-$7.5M, still holding $14.3M).
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Developer Access
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