ADALTA CAPITAL MANAGEMENT LLC

PrivateCIK: 1698926

Location

NEW YORK, NY

103

Positions

$227.78M

Total AUM (reported)

2.62M

Total Shares

Allocation by class

COM$163.61M71.8%

CAP STK CL A$12.97M5.7%

CL A LTD VT SH$10.82M4.7%

COM NEW$7.64M3.4%

ORD$5.14M2.3%

CAP STK CL C$4.22M1.9%

CL B NEW$3.60M1.6%

Portfolio Concentration

Top 3$42.71M18.8%

4–10$69.67M30.6%

11–25$65.11M28.6%

Rest$50.30M22.1%

Top 3 weight

18.8%

Top 10 weight

49.3%

Voting Authority Distribution

Total shares with voting rights: 2.62M

Sole

Full voting authority

2.46M

% of voting shares93.7%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

164.54K

% of voting shares6.3%

Investment Discretion (by position count)

Sole103

Shared0

Other0

Dominant voting typeSole · 93.7% of voting shares

Institutional Holdings103

Rows:

JPMorgan Chase & Co

SOLE

COM

Shares47.08K

TypeSH

Market value$15.41M

6.77%

Sole

47.08K

Shared

0.00

None

0.00

Microsoft Corporation

SOLE

COM

Shares38.42K

TypeSH

Market value$14.33M

6.29%

Sole

37.06K

Shared

0.00

None

1.36K

Alphabet Inc. Class A

SOLE

CAP STK CL A

Shares36.28K

TypeSH

Market value$12.97M

5.69%

Sole

34.74K

Shared

0.00

None

1.54K

Merck & Co. Inc.

SOLE

COM

Shares86.97K

TypeSH

Market value$11.25M

4.94%

Sole

85.09K

Shared

0.00

None

1.88K

Brookfield Corporation Class A

SOLE

CL A LTD VT SH

Shares253.95K

TypeSH

Market value$10.82M

4.75%

Sole

246.39K

Shared

0.00

None

7.56K

Blackstone Group Inc

SOLE

COM

Shares84.27K

TypeSH

Market value$9.92M

4.35%

Sole

82.47K

Shared

0.00

None

1.80K

Home Depot

SOLE

COM

Shares27.83K

TypeSH

Market value$9.81M

4.31%

Sole

26.93K

Shared

0.00

None

900.00

Qualcomm Inc.

SOLE

COM

Shares52.27K

TypeSH

Market value$9.66M

4.24%

Sole

50.95K

Shared

0.00

None

1.32K

Union Pacific Corp.

SOLE

COM

Shares33.69K

TypeSH

Market value$9.16M

4.02%

Sole

33.69K

Shared

0.00

None

0.00

Guardant Health, Inc.

SOLE

COM

Shares60.31K

TypeSH

Market value$9.05M

3.97%

Sole

58.72K

Shared

0.00

None

1.59K

PhenixFIN Corporation

SOLE

COM

Shares176.57K

TypeSH

Market value$7.51M

3.30%

Sole

126.44K

Shared

0.00

None

50.13K

American Express Co.

SOLE

COM

Shares21.31K

TypeSH

Market value$7.21M

3.16%

Sole

20.41K

Shared

0.00

None

900.00

Markel Group Inc.

SOLE

COM

Shares2.73K

TypeSH

Market value$5.34M

2.34%

Sole

2.36K

Shared

0.00

None

369.00

Arch Capital Group Ltd

SOLE

ORD

Shares52.94K

TypeSH

Market value$5.14M

2.26%

Sole

50.38K

Shared

0.00

None

2.56K

Mercadolibre Inc

SOLE

COM

Shares2.95K

TypeSH

Market value$5.01M

2.20%

Sole

2.69K

Shared

0.00

None

256.00

Alphabet Inc. Class C

SOLE

CAP STK CL C

Shares11.95K

TypeSH

Market value$4.22M

1.85%

Sole

11.79K

Shared

0.00

None

155.00

Johnson & Johnson

SOLE

COM

Shares16.41K

TypeSH

Market value$4.17M

1.83%

Sole

15.96K

Shared

0.00

None

450.00

Micron Technology, Inc.

SOLE

COM

Shares3.57K

TypeSH

Market value$4.12M

1.81%

Sole

3.57K

Shared

0.00

None

0.00

Weyerhaeuser Co REIT

SOLE

COM NEW

Shares170.53K

TypeSH

Market value$4.08M

1.79%

Sole

167.85K

Shared

0.00

None

2.67K

Cisco Systems, Inc.

SOLE

COM

Shares31.02K

TypeSH

Market value$3.64M

1.60%

Sole

31.02K

Shared

0.00

None

0.00

Berkshire Hathaway Class B

SOLE

CL B NEW

Shares7.20K

TypeSH

Market value$3.60M

1.58%

Sole

6.70K

Shared

0.00

None

500.00

Southern Company

SOLE

COM

Shares32.81K

TypeSH

Market value$3.14M

1.38%

Sole

32.81K

Shared

0.00

None

0.00

Franco-Nevada Corp

SOLE

COM

Shares13.85K

TypeSH

Market value$2.89M

1.27%

Sole

12.45K

Shared

0.00

None

1.41K

Duke Energy Corp

SOLE

COM NEW

Shares22.13K

TypeSH

Market value$2.80M

1.23%

Sole

21.78K

Shared

0.00

None

350.00

Nu Holdings Ltd.

SOLE

ORD SHS CL A

Shares167.07K

TypeSH

Market value$2.23M

0.98%

Sole

165.82K

Shared

0.00

None

1.25K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
JPMorgan Chase & CoSOLE	COM	47.08K	SH	$15.41M 6.77%	47.08K	0.00
Microsoft CorporationSOLE	COM	38.42K	SH	$14.33M 6.29%	37.06K	1.36K
Alphabet Inc. Class ASOLE	CAP STK CL A	36.28K	SH	$12.97M 5.69%	34.74K	1.54K
Merck & Co. Inc.SOLE	COM	86.97K	SH	$11.25M 4.94%	85.09K	1.88K
Brookfield Corporation Class ASOLE	CL A LTD VT SH	253.95K	SH	$10.82M 4.75%	246.39K	7.56K
Blackstone Group IncSOLE	COM	84.27K	SH	$9.92M 4.35%	82.47K	1.80K
Home DepotSOLE	COM	27.83K	SH	$9.81M 4.31%	26.93K	900.00
Qualcomm Inc.SOLE	COM	52.27K	SH	$9.66M 4.24%	50.95K	1.32K
Union Pacific Corp.SOLE	COM	33.69K	SH	$9.16M 4.02%	33.69K	0.00
Guardant Health, Inc.SOLE	COM	60.31K	SH	$9.05M 3.97%	58.72K	1.59K
PhenixFIN CorporationSOLE	COM	176.57K	SH	$7.51M 3.30%	126.44K	50.13K
American Express Co.SOLE	COM	21.31K	SH	$7.21M 3.16%	20.41K	900.00
Markel Group Inc.SOLE	COM	2.73K	SH	$5.34M 2.34%	2.36K	369.00
Arch Capital Group LtdSOLE	ORD	52.94K	SH	$5.14M 2.26%	50.38K	2.56K
Mercadolibre IncSOLE	COM	2.95K	SH	$5.01M 2.20%	2.69K	256.00
Alphabet Inc. Class CSOLE	CAP STK CL C	11.95K	SH	$4.22M 1.85%	11.79K	155.00
Johnson & JohnsonSOLE	COM	16.41K	SH	$4.17M 1.83%	15.96K	450.00
Micron Technology, Inc.SOLE	COM	3.57K	SH	$4.12M 1.81%	3.57K	0.00
Weyerhaeuser Co REITSOLE	COM NEW	170.53K	SH	$4.08M 1.79%	167.85K	2.67K
Cisco Systems, Inc.SOLE	COM	31.02K	SH	$3.64M 1.60%	31.02K	0.00
Berkshire Hathaway Class BSOLE	CL B NEW	7.20K	SH	$3.60M 1.58%	6.70K	500.00
Southern CompanySOLE	COM	32.81K	SH	$3.14M 1.38%	32.81K	0.00
Franco-Nevada CorpSOLE	COM	13.85K	SH	$2.89M 1.27%	12.45K	1.41K
Duke Energy CorpSOLE	COM NEW	22.13K	SH	$2.80M 1.23%	21.78K	350.00
Nu Holdings Ltd.SOLE	ORD SHS CL A	167.07K	SH	$2.23M 0.98%	165.82K	1.25K

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