ADALTA CAPITAL MANAGEMENT LLC

Filed: 8/12/2025ACC: 0001698926-25-000003

📋 What this filing means

ADALTA CAPITAL MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 97 equity positions with a total reported market value of $199.28M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$199.28M

Total AUM (reported)

2.19M

Total Shares

Allocation by class

COM$148.98M74.8%

CL A LTD VT SH$10.64M5.3%

CAP STK CL A$7.71M3.9%

COM NEW$7.29M3.7%

ORD$4.64M2.3%

CL A$3.22M1.6%

CL B NEW$3.01M1.5%

Portfolio Concentration

Top 3$50.14M25.2%

4–10$61.77M31.0%

11–25$52.86M26.5%

Rest$34.51M17.3%

Top 3 weight

25.2%

Top 10 weight

56.2%

Voting Authority Distribution

Total shares with voting rights: 2.19M

Sole

Full voting authority

1.94M

% of voting shares88.7%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

248.84K

% of voting shares11.3%

Investment Discretion (by position count)

Sole97

Shared0

Other0

Dominant voting typeSole · 88.7% of voting shares

Institutional Holdings97

Rows:

Microsoft Corporation

SOLE

COM

Shares45.63K

TypeSH

Market value$22.70M

11.39%

Sole

42.36K

Shared

0.00

None

3.27K

JPMorgan Chase & Co

SOLE

COM

Shares48.21K

TypeSH

Market value$13.98M

7.01%

Sole

48.21K

Shared

0.00

None

0.00

Blackstone Group Inc

SOLE

COM

Shares90.04K

TypeSH

Market value$13.47M

6.76%

Sole

85.74K

Shared

0.00

None

4.30K

Home Depot

SOLE

COM

Shares29.24K

TypeSH

Market value$10.72M

5.38%

Sole

25.84K

Shared

0.00

None

3.40K

Brookfield Corp F Class A

SOLE

CL A LTD VT SH

Shares171.96K

TypeSH

Market value$10.64M

5.34%

Sole

159.31K

Shared

0.00

None

12.65K

Qualcomm Inc.

SOLE

COM

Shares55.54K

TypeSH

Market value$8.84M

4.44%

Sole

54.21K

Shared

0.00

None

1.32K

PhenixFIN Corporation

SOLE

COM

Shares169.84K

TypeSH

Market value$8.62M

4.33%

Sole

116.96K

Shared

0.00

None

52.88K

Union Pacific Corp.

SOLE

COM

Shares33.71K

TypeSH

Market value$7.76M

3.89%

Sole

33.71K

Shared

0.00

None

0.00

Alphabet Inc. Class A

SOLE

CAP STK CL A

Shares43.78K

TypeSH

Market value$7.71M

3.87%

Sole

40.18K

Shared

0.00

None

3.60K

American Express Co.

SOLE

COM

Shares23.45K

TypeSH

Market value$7.48M

3.75%

Sole

21.55K

Shared

0.00

None

1.90K

Merck & Co. Inc.

SOLE

COM

Shares90.18K

TypeSH

Market value$7.21M

3.62%

Sole

84.80K

Shared

0.00

None

5.38K

Mercadolibre Inc

SOLE

COM

Shares2.04K

TypeSH

Market value$5.34M

2.68%

Sole

1.80K

Shared

0.00

None

246.00

Markel Group Inc.

SOLE

COM

Shares2.64K

TypeSH

Market value$5.28M

2.65%

Sole

2.19K

Shared

0.00

None

454.00

Weyerhaeuser Co REIT

SOLE

COM NEW

Shares180.93K

TypeSH

Market value$4.65M

2.33%

Sole

173.28K

Shared

0.00

None

7.65K

Arch Capital Group Ltd

SOLE

ORD

Shares51K

TypeSH

Market value$4.64M

2.33%

Sole

47.13K

Shared

0.00

None

3.87K

Guardant Health, Inc.

SOLE

COM

Shares63.36K

TypeSH

Market value$3.30M

1.65%

Sole

59.27K

Shared

0.00

None

4.09K

Southern Company

SOLE

COM

Shares32.79K

TypeSH

Market value$3.01M

1.51%

Sole

32.79K

Shared

0.00

None

0.00

Berkshire Hathaway Class B

SOLE

CL B NEW

Shares6.19K

TypeSH

Market value$3.01M

1.51%

Sole

5.69K

Shared

0.00

None

500.00

Johnson & Johnson

SOLE

COM

Shares18.24K

TypeSH

Market value$2.79M

1.40%

Sole

17.79K

Shared

0.00

None

450.00

Duke Energy Corp

SOLE

COM NEW

Shares20.70K

TypeSH

Market value$2.44M

1.23%

Sole

19.25K

Shared

0.00

None

1.45K

Coupang, Inc.

SOLE

CL A

Shares80.51K

TypeSH

Market value$2.41M

1.21%

Sole

64.91K

Shared

0.00

None

15.60K

Brookfield Asset Management Ltd.

SOLE

CL A LMT VTG SHS

Shares42.73K

TypeSH

Market value$2.36M

1.19%

Sole

40.12K

Shared

0.00

None

2.61K

Alphabet Inc. Class C

SOLE

CAP STK CL C

Shares12.21K

TypeSH

Market value$2.17M

1.09%

Sole

10.53K

Shared

0.00

None

1.68K

Cisco Systems, Inc.

SOLE

COM

Shares31.02K

TypeSH

Market value$2.15M

1.08%

Sole

31.02K

Shared

0.00

None

0.00

Franco-Nevada Corp

SOLE

COM

Shares12.82K

TypeSH

Market value$2.10M

1.05%

Sole

11.41K

Shared

0.00

None

1.41K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Microsoft CorporationSOLE	COM	45.63K	SH	$22.70M 11.39%	42.36K	3.27K
JPMorgan Chase & CoSOLE	COM	48.21K	SH	$13.98M 7.01%	48.21K	0.00
Blackstone Group IncSOLE	COM	90.04K	SH	$13.47M 6.76%	85.74K	4.30K
Home DepotSOLE	COM	29.24K	SH	$10.72M 5.38%	25.84K	3.40K
Brookfield Corp F Class ASOLE	CL A LTD VT SH	171.96K	SH	$10.64M 5.34%	159.31K	12.65K
Qualcomm Inc.SOLE	COM	55.54K	SH	$8.84M 4.44%	54.21K	1.32K
PhenixFIN CorporationSOLE	COM	169.84K	SH	$8.62M 4.33%	116.96K	52.88K
Union Pacific Corp.SOLE	COM	33.71K	SH	$7.76M 3.89%	33.71K	0.00
Alphabet Inc. Class ASOLE	CAP STK CL A	43.78K	SH	$7.71M 3.87%	40.18K	3.60K
American Express Co.SOLE	COM	23.45K	SH	$7.48M 3.75%	21.55K	1.90K
Merck & Co. Inc.SOLE	COM	90.18K	SH	$7.21M 3.62%	84.80K	5.38K
Mercadolibre IncSOLE	COM	2.04K	SH	$5.34M 2.68%	1.80K	246.00
Markel Group Inc.SOLE	COM	2.64K	SH	$5.28M 2.65%	2.19K	454.00
Weyerhaeuser Co REITSOLE	COM NEW	180.93K	SH	$4.65M 2.33%	173.28K	7.65K
Arch Capital Group LtdSOLE	ORD	51K	SH	$4.64M 2.33%	47.13K	3.87K
Guardant Health, Inc.SOLE	COM	63.36K	SH	$3.30M 1.65%	59.27K	4.09K
Southern CompanySOLE	COM	32.79K	SH	$3.01M 1.51%	32.79K	0.00
Berkshire Hathaway Class BSOLE	CL B NEW	6.19K	SH	$3.01M 1.51%	5.69K	500.00
Johnson & JohnsonSOLE	COM	18.24K	SH	$2.79M 1.40%	17.79K	450.00
Duke Energy CorpSOLE	COM NEW	20.70K	SH	$2.44M 1.23%	19.25K	1.45K
Coupang, Inc.SOLE	CL A	80.51K	SH	$2.41M 1.21%	64.91K	15.60K
Brookfield Asset Management Ltd.SOLE	CL A LMT VTG SHS	42.73K	SH	$2.36M 1.19%	40.12K	2.61K
Alphabet Inc. Class CSOLE	CAP STK CL C	12.21K	SH	$2.17M 1.09%	10.53K	1.68K
Cisco Systems, Inc.SOLE	COM	31.02K	SH	$2.15M 1.08%	31.02K	0.00
Franco-Nevada CorpSOLE	COM	12.82K	SH	$2.10M 1.05%	11.41K	1.41K

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