CIK: 0001698926
Total reported value
$209.1M
Reporting period: 2026-03-31 · Number of holdings: 120
Adalta Capital Management LLC disclosed 120 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $209.1M and a quarterly turnover rate of 20.6%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "A"
Adalta Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 31 equally-sized positions, well below its 120 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 1.48), 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.
Sector classification currently covers about 62% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
-12.7% -$7.3M
Trim BX
-0.8% -$3.5M
Trim QCOM
-4.4% -$2.7M
Add MRK
-1.1% $1.2M
Trim GOOGL
-11.2% -$2.5M
Trim AXP
-3.2% -$1.8M
Showing top 97 holdings (of 120 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 6.99% | -2.77% | -12.72% | |
| 2 | JPM | Jpmorgan Chase & Co | Stock-Financials | 6.70% | -0.16% | -0.15% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.28% | -0.76% | -11.17% | |
| 4 | MRK | Merck & Co. INC. | Stock-Healthcare | 5.13% | +0.89% | -1.10% | |
| 5 | BN | Brookfield CORP | Stock-Financials | 5.13% | -0.33% | -0.52% | |
| 6 | BX | Blackstone INC | Stock-Financials | 4.77% | -1.24% | -0.77% | |
| 7 | HD | Home Depot INC | Stock-Consumer Disc | 4.59% | +0.10% | -0.03% | |
| 8 | UNP | Union Pacific CORP | Stock-Industrials | 3.91% | +0.43% | — | |
| 9 | QCOM | Qualcomm INC | Stock-Tech | 3.29% | -0.98% | -4.39% | |
| 10 | PFX | Phenixfin CORP | Stock-Other | 3.28% | -0.22% | — | |
| 11 | AXP | American Express Co | Stock-Financials | 3.26% | -0.58% | -3.18% | |
| 12 | GH | Guardant Health INC | Stock-Healthcare | 2.72% | -0.17% | -2.87% | |
| 13 | MKL | Markel Group INC | Stock-Financials | 2.54% | -0.08% | +1.57% | |
| 14 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 2.48% | — | -2.02% | |
| 15 | MELI | Mercadolibre INC | Stock-Consumer Disc | 2.20% | +0.28% | +24.81% | |
| 16 | WY | Weyerhaeuser Co | Stock-Real Estate | 2.04% | +0.27% | +4.24% | |
| 17 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.00% | +0.41% | -0.73% | |
| 18 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.71% | +0.02% | +2.85% | |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.65% | — | +0.14% | |
| 20 | FNV | Franco-nevada CORP | Stock-Materials | 1.65% | +0.38% | +1.37% | |
| 21 | SO | Southern Co/the | Stock-Utilities | 1.52% | +0.24% | — | |
| 22 | DUK | Duke Energy CORP | Stock-Utilities | 1.41% | +0.25% | +1.12% | |
| 23 | NU | Nu Holdings Ltd. | Stock-Financials | 1.21% | -0.16% | -3.95% | |
| 24 | CSCO | Cisco Systems INC | Stock-Tech | 1.15% | — | — | |
| 25 | SLB | Slb LTD | Stock-Energy | 1.09% | +0.47% | +21.27% | |
| 26 | BWXT | Bwx Technologies INC | Stock-Industrials | 1.04% | +0.23% | +1.34% | |
| 27 | AAPL | Apple INC | Stock-Tech | 0.91% | — | -2.60% | |
| 28 | CVX | Chevron CORP | Stock-Energy | 0.89% | +0.28% | — | |
| 29 | DHR | Danaher CORP | Stock-Healthcare | 0.81% | -0.06% | +3.99% | |
| 30 | CPNG | Coupang INC | Stock-Consumer Disc | 0.79% | -0.12% | +1.54% | |
| 31 | BRW | Saba Capital Income & Opport | Stock-Other | 0.78% | — | +6.59% | |
| 32 | BA | Boeing Co/the | Stock-Industrials | 0.75% | — | -1.26% | |
| 33 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.67% | — | — | |
| 34 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.67% | -0.32% | -25.39% | |
| 35 | XOM | Exxon Mobil CORP | Stock-Energy | 0.66% | +0.22% | — | |
| 36 | MU | Micron Technology INC | Stock-Tech | 0.59% | +0.49% | +384.67% | |
| 37 | BXMT | Blackstone Mortgage Tru-cl A | Stock-Real Estate | 0.58% | — | -1.33% | |
| 38 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.54% | — | -0.27% | |
| 39 | EQT | Eqt CORP | Stock-Energy | 0.54% | +0.21% | +26.94% | |
| 40 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 0.49% | — | +10.34% | |
| 41 | TPL | Texas Pacific Land CORP | Stock-Energy | 0.45% | +0.28% | +50.57% | |
| 42 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.44% | — | +22.16% | |
| 43 | ED | Consolidated Edison INC | Stock-Utilities | 0.43% | — | -1.26% | |
| 44 | HSY | Hershey Co/the | Stock-Consumer Staples | 0.41% | +0.15% | +27.70% | |
| 45 | HON | Honeywell International INC | Stock-Industrials | 0.39% | +0.25% | +125.08% | |
| 46 | OPCH | Option Care Health INC | Stock-Healthcare | 0.39% | — | +45.62% | |
| 47 | LB | Landbridge Co Llc-a | Stock-Other | 0.37% | +0.37% | NEW | |
| 48 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.36% | — | — | |
| 49 | BEP | Brookfield Renewable Partners L.P. | Stock-Other | 0.35% | — | — | |
| 50 | D | Dominion Energy INC | Stock-Utilities | 0.35% | — | +0.85% |
Performance for Q3 2026
+4.4%
Performance Last 4 Quarters
+15.7%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 120 | $209.1M | 21 | |
| 2025-12-31 | 111 | $224.0M | 15 | |
| 2025-09-30 | 126 | $220.3M | 23 | |
| 2025-06-30 | 121 | $199.3M | 0 | |
| 2025-03-31 | 126 | $187.8M | 100 | |
| 2024-12-31 | 124 | $191.5M | 0 | |
| 2024-09-30 | 121 | $193.9M | 0 | |
| 2024-06-30 | 127 | $183.9M | 0 | |
| 2024-03-31 | 126 | $181.1M | 0 | |
| 2023-12-31 | 121 | $165.4M | 0 | |
| 2023-09-30 | 112 | $146.7M | 0 | |
| 2023-06-30 | 108 | $149.6M | 0 | |
| 2023-03-31 | 105 | $143.0M | 0 | |
| 2022-12-31 | 112 | $141.8M | 0 | |
| 2022-09-30 | 114 | $139.2M | 0 | |
| 2022-06-30 | 127 | $154.0M | 0 | |
| 2022-03-31 | 126 | $200.5M | 0 | |
| 2021-12-31 | 113 | $216.9M | 0 | |
| 2021-09-30 | 120 | $180.7M | 0 | |
| 2021-06-30 | 122 | $183.6M | 12 | |
| 2021-03-31 | 125 | $173.3M | 17 | |
| 2020-12-31 | 106 | $158.5M | 21 | |
| 2020-09-30 | 97 | $137.1M | 15 | |
| 2020-06-30 | 93 | $125.5M | 25 | |
| 2020-03-31 | 101 | $110.1M | 43 | |
| 2019-12-31 | 118 | $159.0M | 14 | |
| 2019-09-30 | 123 | $151.0M | 24 | |
| 2019-06-30 | 126 | $152.2M | 29 | |
| 2019-03-31 | 113 | $132.2M | 24 | |
| 2018-12-31 | 110 | $107.1M | 37 | |
| 2018-09-30 | 124 | $140.1M | 29 | |
| 2018-06-30 | 124 | $141.6M | 22 | |
| 2018-03-31 | 118 | $131.0M | 10 | |
| 2017-12-31 | 120 | $131.4M | 20 | |
| 2017-09-30 | 113 | $122.5M | 14 | |
| 2017-06-30 | 123 | $123.9M | 13 | |
| 2017-03-31 | 119 | $118.2M | 0 |
Adalta Capital Management LLC's most significant position changes for 2026-03-31: New buy: Landbridge Co Llc-a (LB); New buy: Waterbridge Infrastruc-cl A (WBI); Sold out: Ss Spdr P St C CORP ETF (SPSB); Sold out: Invesco Bulletshares 2028 Cb (BSCS); Sold out: Ishares Ibonds Dec 2028 ETF (IBDT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MRK | Merck & Co. INC. | +0.9% | -1.10% | Trim |
| 2 | MU | Micron Technology INC | +0.5% | +384.67% | Add |
| 3 | SLB | Slb LTD | +0.5% | +21.27% | Add |
| 4 | UNP | Union Pacific CORP | +0.4% | — | Unchanged |
| 5 | JNJ | Johnson & Johnson | +0.4% | -0.73% | Trim |
| 6 | FNV | Franco-nevada CORP | +0.4% | +1.37% | Add |
| 7 | TPL | Texas Pacific Land CORP | +0.3% | +50.57% | Add |
| 8 | CVX | Chevron CORP | +0.3% | — | Unchanged |
| 9 | MELI | Mercadolibre INC | +0.3% | +24.81% | Add |
| 10 | WY | Weyerhaeuser Co | +0.3% | +4.24% | Add |
| 11 | HON | Honeywell International INC | +0.3% | +125.08% | Add |
| 12 | DUK | Duke Energy CORP | +0.3% | +1.12% | Add |
| 13 | SO | Southern Co/the | +0.2% | — | Unchanged |
| 14 | BWXT | Bwx Technologies INC | +0.2% | +1.34% | Add |
| 15 | XOM | Exxon Mobil CORP | +0.2% | — | Unchanged |
| 16 | EQT | Eqt CORP | +0.2% | +26.94% | Add |
| 17 | HSY | Hershey Co/the | +0.2% | +27.70% | Add |
| 18 | HD | Home Depot INC | +0.1% | -0.03% | Trim |
| 19 | GOOG | Alphabet Inc-cl C | 0% | +2.85% | Add |
| 20 | DHR | Danaher CORP | -0.1% | +3.99% | Add |
| 21 | MKL | Markel Group INC | -0.1% | +1.57% | Add |
| 22 | GRAB | Grab Holdings Limited | -0.1% | -34.69% | Trim |
| 23 | WRB | Wr Berkley CORP | -0.1% | -29.00% | Trim |
| 24 | CPNG | Coupang INC | -0.1% | +1.54% | Add |
| 25 | USFR | Wisdomtree Floating Rate Tre | -0.1% | -40.66% | Trim |
| 26 | STIP | Ishares 0-5 Year Tips Bond E | -0.1% | -75.37% | Trim |
| 27 | JPM | Jpmorgan Chase & Co | -0.2% | -0.15% | Trim |
| 28 | NU | Nu Holdings Ltd. | -0.2% | -3.95% | Trim |
| 29 | GH | Guardant Health INC | -0.2% | -2.87% | Trim |
| 30 | TIC | Tic Solutions INC | -0.2% | -95.40% | Trim |
| 31 | PFX | Phenixfin CORP | -0.2% | — | Unchanged |
| 32 | BAM | Brookfield Asset Mgmt-a | -0.3% | -25.39% | Trim |
| 33 | BN | Brookfield CORP | -0.3% | -0.52% | Trim |
| 34 | AXP | American Express Co | -0.6% | -3.18% | Trim |
| 35 | GOOGL | Alphabet Inc-cl A | -0.8% | -11.17% | Trim |
| 36 | QCOM | Qualcomm INC | -1% | -4.39% | Trim |
| 37 | BX | Blackstone INC | -1.2% | -0.77% | Trim |
| 38 | MSFT | Microsoft CORP | -2.8% | -12.72% | Trim |
| 39 | LB | Landbridge Co Llc-a | — | NEW | New buy |
| 40 | WBI | Waterbridge Infrastruc-cl A | — | NEW | New buy |
| 41 | SPSB | Ss Spdr P St C CORP ETF | — | EXIT | Sold out |
| 42 | BSCS | Invesco Bulletshares 2028 Cb | — | EXIT | Sold out |
| 43 | IBDT | Ishares Ibonds Dec 2028 ETF | — | EXIT | Sold out |
| 44 | RSPA | Invesco S&p 500 Ew Income Ad | — | NEW | New buy |
| 45 | BINC | Ishares Flex I A Etf-usd INC | — | NEW | New buy |
| 46 | EFAA | Invesco Msci Eafe Income Adv | — | NEW | New buy |
| 47 | VNOM | Viper Energy Inc-cl A | — | NEW | New buy |
| 48 | P | Everpure Inc-a | — | NEW | New buy |
| 49 | CW | Curtiss-wright CORP | — | NEW | New buy |
| 50 | WIP | State Street Spdr Ftse Inter | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-18 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-17 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-16 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-16 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-15 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-24 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-16 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-21 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-15 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-18 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-06-15 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-15 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-16 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-17 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-17 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-17 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-18 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-15 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-16 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-15 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-16 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-24 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-16 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-17 | 13F-HR | View on EDGAR |
Institutions with a similar AUM
CIK 0000826794
Total reported value
$209.1M
31 stks
2026-03-31
AUM within 0.0% of this institution
CIK 0002063947
Total reported value
$209.0M
103 stks
2026-03-31
AUM within 0.0% of this institution
CIK 0001644978
Total reported value
$209.0M
4 stks
2022-09-30
Stale — no recent filing
AUM within 0.0% of this institution
Institutions with overlapping top holdings
CIK 0000049205
Total reported value
$18.1B
6,012 stks
2026-03-31
3 of the top 5 holdings overlap, including Jpmorgan Chase & Co
CIK 0000749044
Total reported value
$753.4M
415 stks
2026-03-31
3 of the top 5 holdings overlap, including Microsoft CORP
CIK 0000869367
Total reported value
$1.7B
86 stks
2026-03-31
3 of the top 5 holdings overlap, including Alphabet Inc-cl A