Q2 2026 13F · SEC CIK 1698926

Adalta Capital Management LLC

Wealth managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $227.8M
Reported positions: 103
Top holdings a year, 3 yrs: +14.5%
Assets under management: $305.5M

Adalta Capital Management LLC is a wealth manager that reported 103 positions worth $227.8M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Jpmorgan Chase & Co (JPM, 6.8%), Microsoft Corp (MSFT, 6.3%), Alphabet Inc (GOOGL, 5.7%). A portfolio copying its top holdings returned 14.5% a year over the last 3 years, against 20.4% for the S&P 500.

Adalta Capital Management LLC holdings largest 50 of 103 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Adalta Capital Management LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
JPMJpmorgan Chase & Co	6.8%	6.7%	47,083	-1.1%	$15.4M
MSFTMicrosoft Corp	6.3%	7.0%	38,424	-2.7%	$14.3M
GOOGLAlphabet Inc	5.7%	5.3%	36,279	-5.6%	$13.0M
MRKMerck & Co Inc	4.9%	5.1%	86,966	-1.8%	$11.2M
BNBrookfield Corp	4.7%	5.1%	253,946	-4.2%	$10.8M
BXBlackstone Inc	4.4%	4.8%	84,271	-2.8%	$9.9M
HDHome Depot Inc	4.3%	4.6%	27,828	-4.7%	$9.8M
QCOMQualcomm Inc	4.2%	3.3%	52,272	-2.2%	$9.7M
UNPUnion Pac Corp	4.0%	3.9%	33,685	+0.0%	$9.2M
GHGuardant Health Inc	4.0%	2.7%	60,310	-1.9%	$9.0M
PFXPhenixfin Corp	3.3%	3.3%	176,569	+0.6%	$7.5M
AXPAmerican Express Co	3.2%	3.3%	21,311	-5.3%	$7.2M
MKLMarkel Group Inc	2.3%	2.5%	2,732	-1.5%	$5.3M
ACGLArch Cap Group Ltd	2.3%	2.5%	52,943	-1.8%	$5.1M
MELIMercadolibre Inc	2.2%	2.2%	2,950	+10.9%	$5.0M
GOOGAlphabet Inc	1.9%	1.7%	11,949	-3.9%	$4.2M
JNJJohnson & Johnson	1.8%	2.0%	16,410	-4.0%	$4.2M
MUMicron Technology Inc	1.8%	0.6%	3,573	-1.7%	$4.1M
WYWeyerhaeuser Company Com New REIT	1.8%	2.0%	170,530	-2.3%	$4.1M
CSCOCisco Sys Inc	1.6%	1.2%	31,024	+0.0%	$3.6M
BRK-BBerkshire Hathaway Inc Del	1.6%	1.7%	7,203	+0.0%	$3.6M
SOSouthern Co	1.4%	1.5%	32,813	-0.1%	$3.1M
FNVFranco Nev Corp	1.3%	1.6%	13,852	-0.7%	$2.9M
DUKDuke Energy Corp New	1.2%	1.4%	22,131	-1.5%	$2.8M
NUNu Hldgs Ltd	1.0%	1.2%	167,075	-5.0%	$2.2M
BWXTBwx Technologies Inc	0.9%	1.0%	10,558	-0.6%	$2.1M
SLBSlb Limited	0.9%	1.1%	42,464	-3.3%	$2.0M
DHRDanaher Corp Del	0.8%	0.8%	9,662	+9.0%	$1.8M
AAPLApple Inc	0.8%	0.9%	6,095	-18.7%	$1.8M
BABoeing Co	0.7%	0.7%	7,550	-3.8%	$1.6M
CNICanadian Natl Ry Co	0.7%	0.7%	13,700	+0.0%	$1.6M
BRWSaba Capital Income & Oprnt Fd Shs New	0.7%	0.8%	248,039	+3.1%	$1.6M
CVXChevron Corporation	0.6%	0.9%	8,709	-2.9%	$1.4M
CPNGCoupang Inc	0.6%	0.8%	82,896	-5.6%	$1.4M
BAMBrookfield Asset Managmt Ltd	0.6%	0.7%	29,990	-4.7%	$1.3M
AMATApplied Matls Inc	0.6%	—	1,800	—	$1.3M
USFRWisdomtree Tr	0.5%	—	21,395	—	$1.1M
XOMExxon Mobil Corp	0.5%	0.7%	7,855	-3.3%	$1.1M
BXMTBlackstone Mortgage Trust	0.5%	0.6%	61,532	+0.0%	$1.1M
TPLTexas Pacific Land Corporati	0.5%	0.5%	2,385	+19.5%	$1.0M
BTIBritish Amern Tob PLC	0.5%	0.5%	16,860	-1.5%	$1.0M
LBLandbridge Company LLC Cl A	0.4%	0.4%	12,735	+12.8%	$1.0M
BMYBristol-Myers Squibb Co	0.4%	0.5%	16,538	-11.0%	$953K
LLYEli Lilly & Co	0.4%	0.4%	763	-24.4%	$915K
WBIWaterbridge Infrastructure L	0.4%	—	24,875	—	$852K
EQTEqt Corp	0.4%	0.5%	15,895	-10.0%	$845K
PMPhilip Morris Intl Inc	0.4%	—	4,540	—	$828K
EDConsolidated Edison Inc	0.4%	0.4%	7,467	-5.1%	$826K
DDominion Energy Inc	0.4%	0.3%	11,835	+0.3%	$808K
CLColgate Palmolive Co	0.4%	0.4%	8,810	+0.0%	$808K

What Adalta Capital Management LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

TPL Texas Pacific Land Corporati+19.5% shares
LB Landbridge Company LLC Cl A+12.8% shares
MELI Mercadolibre Inc+10.9% shares
DHR Danaher Corp Del+9.0% shares

Reduced

LLY Eli Lilly & Co-24.4% shares
AAPL Apple Inc-18.7% shares
BMY Bristol-Myers Squibb Co-11.0% shares
EQT Eqt Corp-10.0% shares
CPNG Coupang Inc-5.6% shares
GOOGL Alphabet Inc-5.6% shares
AXP American Express Co-5.3% shares
ED Consolidated Edison Inc-5.1% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +11.3% /yr; S&P 500 +20.1%
3 years: +14.5% /yr; S&P 500 +20.4%
5 years: +5.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$227.8M	103
Q1 2026	$209.1M	97
Q4 2025	$224.0M	88
Q3 2025	$220.3M	102
Q2 2025	$199.3M	97
Q1 2025	$187.8M	101
Q4 2024	$191.5M	99
Q3 2024	$193.9M	95
Q2 2024	$183.9M	101
Q1 2024	$181.1M	101
Q4 2023	$165.4M	97
Q3 2023	$146.7M	88

Questions about Adalta Capital Management LLC's portfolio

What stocks does Adalta Capital Management LLC own?

Adalta Capital Management LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 103 positions worth $227.8M. The largest are Jpmorgan Chase & Co (JPM) at 6.8%, Microsoft Corp (MSFT) at 6.3%, Alphabet Inc (GOOGL) at 5.7%, Merck & Co Inc (MRK) at 4.9% and Brookfield Corp (BN) at 4.7%.

What did Adalta Capital Management LLC buy last quarter?

In Q2 2026, Adalta Capital Management LLC added Texas Pacific Land Corporati (TPL) (+19.5% shares), Landbridge Company LLC Cl A (LB) (+12.8% shares) and Mercadolibre Inc (MELI) (+10.9% shares), compared with its Q1 2026 filing.

What did Adalta Capital Management LLC sell last quarter?

In Q2 2026, Adalta Capital Management LLC cut from its top 50 Hershey Co (HSY), cut from its top 50 Honeywell Intl. Inc (HON), cut from its top 50 Option Care Health Inc (OPCH), cut from its top 50 Brookfield Renewable Energy (BEP), Eli Lilly & Co (LLY) (-24.4% shares), Apple Inc (AAPL) (-18.7% shares) and Bristol-Myers Squibb Co (BMY) (-11.0% shares), compared with its Q1 2026 filing.

How has Adalta Capital Management LLC's portfolio performed?

A portfolio copying Adalta Capital Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +14.5% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +11.3% against +20.1%. Over 5 years: +5.3% a year against +11.6%.

When is Adalta Capital Management LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Adalta Capital Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Adalta Capital Management LLC manage?

Adalta Capital Management LLC reported $305.5M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $227.8M.