13F HOLDINGS REPORT
Adalta Capital Management LLC
Quarter ended Q4 2024 · Filed February 18, 2025 · Accession 0001698926-25-000001
Total Value
$191.5M
Positions
125
Other Managers
0
Confidential Omitted
No
Holdings (124)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Microsoft Corporation | MSFT | 47,921 | $20.2M | 10.55% |
| 2 | Blackstone Group Inc | BX | 90,326 | $15.6M | 8.13% |
| 3 | JPMorgan Chase & Co | VYLD | 49,049 | $11.8M | 6.14% |
| 4 | Home Depot | HD | 28,484 | $11.1M | 5.78% |
| 5 | Brookfield Corp F Class A | 11271J107 | 172,201 | $9.9M | 5.17% |
| 6 | Merck & Co. Inc. | MRK | 89,125 | $8.9M | 4.67% |
| 7 | Qualcomm Inc. | QCOM | 56,086 | $8.6M | 4.50% |
| 8 | Alphabet Inc. Class A | GOOG | 42,935 | $8.1M | 4.24% |
| 9 | PhenixFIN Corporation | PFXNZ | 155,074 | $7.8M | 4.05% |
| 10 | Union Pacific Corp. | UNP | 33,370 | $7.6M | 3.97% |
| 11 | American Express Co. | AXP | 24,385 | $7.2M | 3.78% |
| 12 | Weyerhaeuser Co REIT | WY | 182,732 | $5.1M | 2.69% |
| 13 | Arch Capital Group Ltd | G0450A105 | 55,024 | $5.1M | 2.65% |
| 14 | Markel Group Inc. | MKL | 2,541 | $4.4M | 2.29% |
| 15 | Mercadolibre Inc | MELI | 1,806 | $3.1M | 1.60% |
| 16 | Berkshire Hathaway Class B | BRK-A | 6,193 | $2.8M | 1.47% |
| 17 | Southern Company | SOMN | 32,794 | $2.7M | 1.41% |
| 18 | Johnson & Johnson | JNJ | 18,071 | $2.6M | 1.36% |
| 19 | Brookfield Asset Management Ltd. | 113004105 | 43,032 | $2.3M | 1.22% |
| 20 | Duke Energy Corp | DUKB | 20,431 | $2.2M | 1.15% |
| 21 | Guardant Health, Inc. | GH | 68,263 | $2.1M | 1.09% |
| 22 | Cisco Systems, Inc. | CSCO | 31,024 | $1.8M | 0.96% |
| 23 | Coupang, Inc. | CPNG | 78,261 | $1.7M | 0.90% |
| 24 | Canadian National Railway Co. | 136375102 | 15,950 | $1.6M | 0.85% |
| 25 | Danaher Corp | 235851102 | 6,807 | $1.6M | 0.82% |
| 26 | Boeing | BA-PA | 8,625 | $1.5M | 0.80% |
| 27 | Franco-Nevada Corp | FNV | 12,941 | $1.5M | 0.79% |
| 28 | Alphabet Inc. Class C | GOOG | 7,685 | $1.5M | 0.76% |
| 29 | SLB | SLB | 37,669 | $1.5M | 0.76% |
| 30 | Apple Inc. | AAPL | 5,740 | $1.4M | 0.75% |
| 31 | General Motors Co | 37045V100 | 26,500 | $1.4M | 0.74% |
| 32 | Chevron Corp. | CVX | 9,069 | $1.3M | 0.69% |
| 33 | Blackstone Mortgage Trust | BX | 62,856 | $1.1M | 0.59% |
| 34 | Nu Holdings Ltd. | NU | 106,500 | $1.1M | 0.58% |
| 35 | Bristol-Myers Squibb | CELG-RI | 18,622 | $1.1M | 0.55% |
| 36 | ExxonMobil Corp | XOM | 8,121 | $873,576 | 0.46% |
| 37 | Deere & Co | DE | 1,970 | $837,880 | 0.44% |
| 38 | Colgate-Palmolive Co | CL | 8,930 | $811,826 | 0.42% |
| 39 | PG&E Corporation | PCG-PX | 36,490 | $737,281 | 0.38% |
| 40 | Consolidated Edison | ED | 7,767 | $693,049 | 0.36% |
| 41 | Comcast Corporation | CCZ | 18,000 | $675,540 | 0.35% |
| 42 | Edison International | 281020107 | 8,000 | $638,720 | 0.33% |
| 43 | Procter & Gamble | 742718109 | 3,770 | $632,041 | 0.33% |
| 44 | Dominion Resources, Inc | D | 11,700 | $630,162 | 0.33% |
| 45 | Eli Lilly & Company | LLY | 785 | $606,020 | 0.32% |
| 46 | Paypal Holdings Inc | PYPL | 6,720 | $573,552 | 0.30% |
| 47 | Enbridge Inc | ENNPF | 12,796 | $542,934 | 0.28% |
| 48 | Martin Marietta Matr | 573284106 | 1,050 | $542,325 | 0.28% |
| 49 | Saba Closed End Funds ETF | 30151E806 | 25,060 | $536,785 | 0.28% |
| 50 | Brookfield Renewable LP | G16258108 | 23,351 | $532,169 | 0.28% |
| 51 | Enovix Corporation | ENVX | 48,581 | $528,075 | 0.28% |
| 52 | BWX Technologies Inc | BWXT | 4,718 | $525,538 | 0.27% |
| 53 | Alibaba Group ADR | BBAAY | 5,720 | $484,999 | 0.25% |
| 54 | Enterprise Products Partners L.P. | 293792107 | 14,675 | $460,208 | 0.24% |
| 55 | Philip Morris International Inc. | 718172109 | 3,740 | $455,158 | 0.24% |
| 56 | Applied Materials | 038222105 | 2,670 | $434,222 | 0.23% |
| 57 | Saba Capital Income & Opportunities Fund | 78518H202 | 56,835 | $433,083 | 0.23% |
| 58 | Oaktree Specialty Lending Corporation | OCSL | 25,000 | $382,000 | 0.20% |
| 59 | Obsidian Energy Ltd. | OBE | 62,917 | $364,289 | 0.19% |
| 60 | Honeywell International Inc. | 438516106 | 1,611 | $363,909 | 0.19% |
| 61 | Coca-Cola Company | KO | 5,625 | $350,213 | 0.18% |
| 62 | EQT Corporation | EQT | 7,500 | $345,825 | 0.18% |
| 63 | Grab Holdings Ltd. | GRABW | 63,680 | $300,570 | 0.16% |
| 64 | Home Depot | HD | 700 | $272,293 | 0.14% |
| 65 | Snowflake Inc. | SNOW | 1,740 | $268,673 | 0.14% |
| 66 | ESAB Corp | ESAB | 2,160 | $259,243 | 0.14% |
| 67 | Grayscale Bitcoin Trust | GBTC | 3,420 | $253,148 | 0.13% |
| 68 | Microsoft Corporation | MSFT | 600 | $252,900 | 0.13% |
| 69 | Diageo PLC ADR | DGEAF | 1,980 | $251,717 | 0.13% |
| 70 | Marriott Vacations | VAC | 2,500 | $226,475 | 0.12% |
| 71 | Commercial Metals Co | CMC | 4,565 | $226,424 | 0.12% |
| 72 | Amazon Com Inc | AMZN | 940 | $206,227 | 0.11% |
| 73 | Intuitive Surgical | ISRG | 375 | $195,735 | 0.10% |
| 74 | Vaneck Vectors Green Bond ETF | 92189F171 | 8,250 | $195,525 | 0.10% |
| 75 | Coherent Corp | COHR | 2,000 | $189,460 | 0.10% |
| 76 | Penn NTNL Gaming | PENN | 8,981 | $178,003 | 0.09% |
| 77 | Regeneron Pharms Inc | REGN | 245 | $174,521 | 0.09% |
| 78 | Advanced Micro Devices, Inc. | AMD | 1,430 | $172,730 | 0.09% |
| 79 | The Williams Companies, Inc. | 969457100 | 3,100 | $167,772 | 0.09% |
| 80 | Generac Holdings Inc | GNRC | 1,080 | $167,454 | 0.09% |
| 81 | Brookfield Renewable Corp | BEPC | 5,959 | $164,826 | 0.09% |
| 82 | Palantir Technologies Inc. | PLTR | 2,100 | $158,823 | 0.08% |
| 83 | Viper Energy Inc Class A | VNOM | 3,180 | $156,043 | 0.08% |
| 84 | Hershey Co | HSY | 899 | $152,246 | 0.08% |
| 85 | Raytheon Technologies Co | RTX | 1,300 | $150,436 | 0.08% |
| 86 | Carrier Global Corp | CARR | 2,184 | $149,571 | 0.08% |
| 87 | Costco Wholesale Co | 22160K105 | 160 | $146,603 | 0.08% |
| 88 | General Mills Inc | 370334104 | 2,253 | $143,672 | 0.08% |
| 89 | Blackstone Group Inc | BX | 800 | $137,936 | 0.07% |
| 90 | Kimberly-Clark Corp | KMB | 1,005 | $132,921 | 0.07% |
| 91 | American Express Co. | AXP | 400 | $118,716 | 0.06% |
| 92 | Civeo Corp | CVEO | 5,000 | $113,600 | 0.06% |
| 93 | MDU Resources Group, Inc. | 552690109 | 6,180 | $112,167 | 0.06% |
| 94 | Everus Construction, Inc. | EVEX-WT | 1,537 | $101,058 | 0.05% |
| 95 | Merck & Co. Inc. | MRK | 1,000 | $100,290 | 0.05% |
| 96 | Sportradar Group AG | SRAD | 5,675 | $98,405 | 0.05% |
| 97 | Horizon Kinetics Blockchain Development ETF | 53656G209 | 3,300 | $91,576 | 0.05% |
| 98 | Union Pacific Corp. | UNP | 400 | $91,216 | 0.05% |
| 99 | Uber Technologies Inc | UBER | 1,500 | $90,480 | 0.05% |
| 100 | Bank of America | 060505104 | 2,000 | $87,900 | 0.05% |
| 101 | Brookfield Corp F Class A | 11271J107 | 1,387 | $79,683 | 0.04% |
| 102 | CloudFlare, Inc. | NET | 615 | $66,223 | 0.03% |
| 103 | W. R. Berkley Corporation | WRB-PH | 1,045 | $61,153 | 0.03% |
| 104 | Devon Energy Corp | 25179M103 | 1,525 | $49,913 | 0.03% |
| 105 | Markel Group Inc. | MKL | 25 | $43,156 | 0.02% |
| 106 | Weyerhaeuser Co REIT | WY | 1,500 | $42,225 | 0.02% |
| 107 | Waste Management Inc | 94106L109 | 200 | $40,358 | 0.02% |
| 108 | Alphabet Inc. Class C | GOOG | 200 | $38,088 | 0.02% |
| 109 | Alphabet Inc. Class A | GOOG | 200 | $37,860 | 0.02% |
| 110 | Franco-Nevada Corp | FNV | 275 | $32,337 | 0.02% |
| 111 | Crane Company | CR | 195 | $29,591 | 0.02% |
| 112 | Johnson & Johnson | JNJ | 200 | $28,924 | 0.02% |
| 113 | Arch Capital Group Ltd | G0450A105 | 250 | $23,088 | 0.01% |
| 114 | Saba Closed End Funds ETF | 30151E806 | 1,075 | $23,027 | 0.01% |
| 115 | PhenixFIN Corporation | PFXNZ | 450 | $22,789 | 0.01% |
| 116 | Brookfield Asset Management Ltd. | 113004105 | 346 | $18,750 | 0.01% |
| 117 | Consolidated Edison | ED | 200 | $17,846 | 0.01% |
| 118 | Mercadolibre Inc | MELI | 10 | $17,004 | 0.01% |
| 119 | Saba Capital Income & Opportunities Fund | 78518H202 | 1,700 | $12,954 | 0.01% |
| 120 | Danaher Corp | 235851102 | 50 | $11,491 | 0.01% |
| 121 | Bristol-Myers Squibb | CELG-RI | 200 | $11,312 | 0.01% |
| 122 | MDU Resources Group, Inc. | 552690109 | 350 | $6,353 | 0.00% |
| 123 | Everus Construction, Inc. | EVEX-WT | 87 | $5,720 | 0.00% |
| 124 | Enovix Corporation | ENVX | 450 | $4,892 | 0.00% |