Adalta Capital Management LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| Merck & Co. Inc.(MRK) | 89,580 | 88,591 | -989 | 9,505,334 | 10,732,499 | 5.13% | +1,227,165 |
| Micron Technology, Inc.(MU) | 750 | 3,635 | +2,885 | 214,144 | 1,228,594 | 0.59% | +1,014,450 |
| SLB(SLB) | 36,194 | 43,894 | +7,700 | 1,399,441 | 2,268,661 | 1.09% | +869,220 |
| Landbridge Co LLC Class A(LB) | 0 | 11,285 | +11,285 | 0 | 779,229 | 0.37% | +779,229 |
| WaterBridge Infrastructure LLC(WBI) | 0 | 24,625 | +24,625 | 0 | 659,704 | 0.32% | +659,704 |
| Johnson & Johnson(JNJ) | 17,221 | 17,096 | -125 | 3,563,886 | 4,178,946 | 2.00% | +615,060 |
| Franco-Nevada Corp(FNV) | 13,758 | 13,946 | +188 | 2,851,758 | 3,445,360 | 1.65% | +593,602 |
| Texas Pacific Land Corp(TPL) | 1,325 | 1,995 | +670 | 380,567 | 946,747 | 0.45% | +566,180 |
| Honeywell International Inc.(HON) | 1,611 | 3,626 | +2,015 | 314,290 | 819,585 | 0.39% | +505,295 |
| Chevron Corp.(CVX) | 8,969 | 8,969 | 0 | 1,366,965 | 1,855,686 | 0.89% | +488,721 |
| ExxonMobil Corp | 8,121 | 8,121 | 0 | 977,281 | 1,377,809 | 0.66% | +400,528 |
| Invesco S&P 500 Equal Weight Income Advantage ETF S&P 500 EQUA ETF | 0 | 8,000 | +8,000 | 0 | 399,960 | 0.19% | +399,960 |
| Union Pacific Corp.(UNP) | 33,685 | 33,685 | 0 | 7,792,014 | 8,172,655 | 3.91% | +380,641 |
| iShares Flexible Income Active ETF | 0 | 7,300 | +7,300 | 0 | 379,089 | 0.18% | +379,089 |
| EQT Corporation(EQT) | 13,920 | 17,670 | +3,750 | 746,112 | 1,124,519 | 0.54% | +378,407 |
| BWX Technologies Inc(BWXT) | 10,483 | 10,623 | +140 | 1,811,882 | 2,172,297 | 1.04% | +360,415 |
| Duke Energy Corp(DUK) | 22,225 | 22,475 | +250 | 2,604,992 | 2,942,877 | 1.41% | +337,885 |
| Invesco MSCI EAFE Income Advantage ETF MSCI EAFE IN ETF | 0 | 6,000 | +6,000 | 0 | 316,440 | 0.15% | +316,440 |
| Mercadolibre Inc(MELI) | 2,132 | 2,661 | +529 | 4,294,403 | 4,600,922 | 2.20% | +306,519 |
| Southern Company(SO) | 32,838 | 32,838 | 0 | 2,863,474 | 3,169,524 | 1.52% | +306,050 |
| Weyerhaeuser Co REIT(WY) | 167,482 | 174,582 | +7,100 | 3,967,649 | 4,265,038 | 2.04% | +297,389 |
| Hershey Co(HSY) | 3,231 | 4,126 | +895 | 587,977 | 857,754 | 0.41% | +269,777 |
| Viper Energy Inc New Class A(VNOM) | 0 | 5,680 | +5,680 | 0 | 266,903 | 0.13% | +266,903 |
| Pure Storage, Inc.(P) | 0 | 4,110 | +4,110 | 0 | 242,654 | 0.12% | +242,654 |
| Curtiss Wright Corp(CW) | 0 | 352 | +352 | 0 | 239,839 | 0.11% | +239,839 |
| SPDR FTSE International Government Inflation-Protected Bond ETF ST STR FTSE ETF | 0 | 6,000 | +6,000 | 0 | 237,600 | 0.11% | +237,600 |
| Generac Holdings Inc(GNRC) | 0 | 1,080 | +1,080 | 0 | 210,956 | 0.10% | +210,956 |
| Mueller Water Products, Inc.(MWA) | 0 | 7,225 | +7,225 | 0 | 198,615 | 0.10% | +198,615 |
| Intel Corp(INTC) | 0 | 4,000 | +4,000 | 0 | 176,520 | 0.08% | +176,520 |
| Option Care Health Inc(OPCH) | 20,880 | 30,405 | +9,525 | 665,237 | 818,503 | 0.39% | +153,266 |
| Brookfield Renewable LP PARTNERSHIP UNIT | 22,451 | 22,451 | 0 | 605,503 | 734,211 | 0.35% | +128,708 |
| British American Tobacco ADR(BTI) | 15,515 | 17,120 | +1,605 | 891,234 | 1,015,285 | 0.49% | +124,051 |
| Bristol-Myers Squibb(BMY) | 18,622 | 18,572 | -50 | 1,004,471 | 1,126,392 | 0.54% | +121,921 |
| Amrize Ltd(AMRZ) | 10,900 | 12,580 | +1,680 | 589,472 | 703,109 | 0.34% | +113,637 |
| Edison International(EIX) | 8,000 | 8,000 | 0 | 480,160 | 585,440 | 0.28% | +105,280 |
| Consolidated Edison(ED) | 7,967 | 7,867 | -100 | 791,282 | 890,387 | 0.43% | +99,105 |
| Applied Materials | 1,145 | 1,145 | 0 | 294,254 | 391,350 | 0.19% | +97,096 |
| Deere & Co(DE) | 920 | 920 | 0 | 429,815 | 519,726 | 0.25% | +89,911 |
| DoubleLine Yield Opportunities Fund | 13,000 | 19,684 | +6,684 | 189,020 | 274,001 | 0.13% | +84,981 |
| Enterprise Products Partners L.P.(EPD) | 14,675 | 14,675 | 0 | 470,481 | 555,302 | 0.27% | +84,821 |
| Enbridge Inc(ENB) | 12,796 | 12,796 | 0 | 612,033 | 692,775 | 0.33% | +80,742 |
| PG&E Corporation(PCG) | 36,490 | 36,490 | 0 | 588,219 | 642,954 | 0.31% | +54,735 |
| Colgate-Palmolive Co(CL) | 8,810 | 8,810 | 0 | 696,166 | 750,876 | 0.36% | +54,710 |
| Canadian National Railway Co.(CNI) | 13,700 | 13,700 | 0 | 1,354,245 | 1,407,949 | 0.67% | +53,704 |
| The Williams Companies, Inc.(WMB) | 3,615 | 3,615 | 0 | 217,298 | 263,100 | 0.13% | +45,802 |
| Dominion Resources, Inc(D) | 11,700 | 11,800 | +100 | 685,503 | 729,476 | 0.35% | +43,973 |
| Eli Lilly & Company(LLY) | 826 | 1,009 | +183 | 887,686 | 928,048 | 0.44% | +40,362 |
| Saba Capital Income & Opportunities Fund | 225,787 | 240,672 | +14,885 | 1,582,767 | 1,622,129 | 0.78% | +39,362 |
| AtaiBeckley Inc(ATAI) | 0 | 10,973 | +10,973 | 0 | 38,844 | 0.02% | +38,844 |
| Coca-Cola Company(KO) | 5,625 | 5,625 | 0 | 393,244 | 430,763 | 0.21% | +37,519 |
| Invesco Preferred ETF | 11,596 | 14,596 | +3,000 | 130,339 | 158,804 | 0.08% | +28,465 |
| Philip Morris International Inc.(PM) | 4,240 | 4,240 | 0 | 686,329 | 707,274 | 0.34% | +20,945 |
| Cohen & Steers Infrastructure Fund(UTF) | 10,900 | 10,900 | 0 | 262,799 | 282,092 | 0.13% | +19,293 |
| Cisco Systems, Inc.(CSCO) | 31,024 | 31,024 | 0 | 2,389,779 | 2,407,152 | 1.15% | +17,373 |
| Raytheon Technologies Co(RTX) | 1,300 | 1,300 | 0 | 238,420 | 250,770 | 0.12% | +12,350 |
| Brookfield Renewable Corp(BEPC) | 5,735 | 5,708 | -27 | 219,880 | 227,701 | 0.11% | +7,821 |
| Costco Wholesale Co(COST) | 150 | 135 | -15 | 129,351 | 134,518 | 0.06% | +5,167 |
| Procter & Gamble(PG) | 3,770 | 3,770 | 0 | 540,279 | 544,539 | 0.26% | +4,260 |
| VanEck Green Bond ETF GREEN BOND ETF | 8,250 | 8,250 | 0 | 200,764 | 197,662 | 0.09% | -3,102 |
| Vanguard Emerging Markets Government Bond ETF | 3,050 | 3,050 | 0 | 205,662 | 200,355 | 0.10% | -5,307 |
| Abbvie Inc(ABBV) | 897 | 897 | 0 | 204,956 | 195,089 | 0.09% | -9,867 |
| Saba Closed End Funds ETF | 26,135 | 26,135 | 0 | 602,150 | 589,344 | 0.28% | -12,806 |
| Blackstone Mortgage Trust(BXMT) | 62,360 | 61,531 | -829 | 1,222,252 | 1,207,236 | 0.58% | -15,016 |
| Kimberly-Clark Corp(KMB) | 6,005 | 6,005 | 0 | 613,411 | 586,989 | 0.28% | -26,422 |
| Loews Corp(L) | 2,000 | 1,700 | -300 | 210,620 | 181,458 | 0.09% | -29,162 |
| Martin Marietta Matr(MLM) | 1,015 | 1,015 | 0 | 632,000 | 597,510 | 0.29% | -34,490 |
| Commercial Metals Co(CMC) | 4,565 | 4,565 | 0 | 315,989 | 280,428 | 0.13% | -35,561 |
| Intuitive Surgical | 375 | 375 | 0 | 212,385 | 172,871 | 0.08% | -39,514 |
| Amazon Com Inc(AMZN) | 970 | 850 | -120 | 223,895 | 177,030 | 0.08% | -46,865 |
| iShares 0-5 Year Investment Grade Corporate Bond ETF 0-5YR INVT GR CP | 7,800 | 6,600 | -1,200 | 395,460 | 333,234 | 0.16% | -62,226 |
| Snowflake Inc.(SNOW) | 1,295 | 1,295 | 0 | 284,071 | 195,312 | 0.09% | -88,759 |
| Arch Capital Group Ltd ORD | 55,031 | 53,921 | -1,110 | 5,278,574 | 5,175,877 | 2.48% | -102,697 |
| JPMorgan Equity Premium Income ETF EQUITY PREMIUM | 5,000 | 3,000 | -2,000 | 288,335 | 170,040 | 0.08% | -118,295 |
| Blackstone Strategic Credit 2027 Term Fund | 10,000 | 0 | -10,000 | 118,570 | 0 | — | -118,570 |
| Boeing(BA) | 7,950 | 7,850 | -100 | 1,726,104 | 1,562,386 | 0.75% | -163,718 |
| Berkshire Hathaway Class B | 7,193 | 7,203 | +10 | 3,615,561 | 3,451,678 | 1.65% | -163,883 |
| Apple Inc.(AAPL) | 7,700 | 7,500 | -200 | 2,093,322 | 1,903,425 | 0.91% | -189,897 |
| Alphabet Inc. Class C(GOOG) | 12,084 | 12,429 | +345 | 3,791,959 | 3,565,383 | 1.71% | -226,576 |
| Grab Holdings Ltd. CLASS A ORD | 100,880 | 65,880 | -35,000 | 503,391 | 241,121 | 0.12% | -262,270 |
| Danaher Corp(DHR) | 8,524 | 8,864 | +340 | 1,954,283 | 1,684,200 | 0.81% | -270,083 |
| W. R. Berkley Corporation | 12,705 | 9,020 | -3,685 | 890,875 | 597,846 | 0.29% | -293,029 |
| iShares 0-5 Year TIPS Bond ETF 0-5 YR TIPS ETF | 4,060 | 1,000 | -3,060 | 415,703 | 103,430 | 0.05% | -312,273 |
| WisdomTree Floating Rate Treasury Fund(WT) | 16,000 | 9,495 | -6,505 | 805,120 | 477,978 | 0.23% | -327,142 |
| Coupang, Inc.(CPNG) | 86,466 | 87,801 | +1,335 | 2,039,733 | 1,657,683 | 0.79% | -382,050 |
| TIC Solutions, Inc.(TIC) | 43,500 | 2,000 | -41,500 | 439,785 | 13,160 | 0.01% | -426,625 |
| iShares iBonds December 2028 Term ETF IBDS DEC28 ETF | 17,180 | 0 | -17,180 | 437,317 | 0 | — | -437,317 |
| Invesco BulletShares 2028 Corporate Bond ETF INVSCO BLSH 28 | 21,290 | 0 | -21,290 | 438,574 | 0 | — | -438,574 |
| State Street SPDR Portfolio Short Term Corporate Bond ETF ST SHOR CORP ETF | 14,543 | 0 | -14,543 | 439,199 | 0 | — | -439,199 |
| Home Depot(HD) | 29,217 | 29,207 | -10 | 10,053,570 | 9,605,890 | 4.59% | -447,680 |
| Nu Holdings Ltd.(NU) | 183,100 | 175,875 | -7,225 | 3,065,094 | 2,527,324 | 1.21% | -537,770 |
| Markel Group Inc.(MKL) | 2,732 | 2,775 | +43 | 5,872,844 | 5,311,545 | 2.54% | -561,299 |
| Guardant Health, Inc.(GH) | 63,288 | 61,473 | -1,815 | 6,464,236 | 5,678,261 | 2.72% | -785,975 |
| Brookfield Asset Management Ltd.(BAM) | 42,178 | 31,471 | -10,707 | 2,209,705 | 1,398,886 | 0.67% | -810,819 |
| PhenixFIN Corporation | 175,569 | 175,569 | 0 | 7,835,738 | 6,861,925 | 3.28% | -973,813 |
| JPMorgan Chase & Co(JPM) | 47,680 | 47,610 | -70 | 15,363,450 | 14,004,958 | 6.70% | -1,358,492 |
| Brookfield Corp F Class A(BN) | 266,476 | 265,083 | -1,393 | 12,228,583 | 10,727,909 | 5.13% | -1,500,674 |
| American Express Co.(AXP) | 23,243 | 22,503 | -740 | 8,598,748 | 6,806,707 | 3.26% | -1,792,041 |
| Alphabet Inc. Class A(GOOG) | 43,249 | 38,419 | -4,830 | 13,536,937 | 11,047,768 | 5.28% | -2,489,169 |
| Qualcomm Inc.(QCOM) | 55,911 | 53,457 | -2,454 | 9,563,635 | 6,884,132 | 3.29% | -2,679,503 |
| Blackstone Group Inc(BX) | 87,391 | 86,721 | -670 | 13,470,449 | 9,972,048 | 4.77% | -3,498,401 |