2026 Q2 Portfolio Activity
In 2026 Q2, Adalta Capital Management LLC maintained a portfolio of 109 distinct positions. The most significant new addition was BlackRock Health Sciences Term, now representing 0.25% of the total fund value. They heavily accumulated shares in Applied Materials, increasing the position by 57.2%.
Position History
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Total Positions
109
Quarter
2026 Q2
Top Holding
JPM (6.8%)
Top 10 Concentration
49.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 109
Adalta Capital Management LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
JPM
JPMorgan Chase ...
|
Financial Services | 6.77% | 6.70% |
#1
1
Prev: #2
|
5.2 |
—
|
-527 | -1.1% |
P
S
|
47,083 | $15,411,678 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MSFT
Microsoft Corpo...
|
Technology | 6.29% | 6.99% |
#2
1
Prev: #1
|
4.5 |
—
|
-1,050 | -2.7% |
P
S
|
38,424 | $14,332,920 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOGL
Alphabet Inc. C...
|
Communication Services | 5.69% | 5.28% |
#3
Prev: #3
|
3.8 |
—
|
-2,140 | -5.6% |
P
S
|
36,279 | $12,965,026 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MRK
Merck & Co. Inc...
|
Healthcare | 4.94% | 5.13% |
#4
Prev: #4
|
3.0 |
—
|
-1,625 | -1.8% |
P
S
|
86,966 | $11,249,902 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BN
Brookfield Corp...
|
Financial Services | 4.75% | 5.13% |
#5
Prev: #5
|
2.9 |
—
|
-11,137 | -4.2% |
P
S
|
253,946 | $10,815,560 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BX
Blackstone Grou...
|
Financial Services | 4.35% | 4.77% |
#6
Prev: #6
|
2.2 |
—
|
-2,450 | -2.8% |
P
S
|
84,271 | $9,916,169 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HD
Home Depot
|
Consumer Cyclical | 4.31% | 4.59% |
#7
Prev: #7
|
2.2 |
—
|
-1,379 | -4.7% |
P
S
|
27,828 | $9,814,379 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
QCOM
Qualcomm Inc.
|
Technology | 4.24% | 3.29% |
#8
1
Prev: #9
|
2.2 |
—
|
-1,185 | -2.2% |
P
S
|
52,272 | $9,659,280 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
UNP
Union Pacific C...
|
Industrials | 4.02% | 3.91% |
#9
1
Prev: #8
|
2.6 |
—
|
no change | no change |
P
S
|
33,685 | $9,162,320 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GH
Guardant Health...
|
Healthcare | 3.97% | 2.72% |
#10
2
Prev: #12
|
2.1 |
—
|
-1,163 | -1.9% |
P
S
|
60,310 | $9,048,309 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PFX
PhenixFIN Corpo...
|
Financial Services | 3.30% | 3.28% |
#11
1
Prev: #10
|
1.8 |
—
|
1,000 | 0.6% |
P
S
|
176,569 | $7,514,777 | 2021 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AXP
American Expres...
|
Financial Services | 3.16% | 3.26% |
#12
1
Prev: #11
|
1.8 |
—
|
-1,192 | -5.3% |
P
S
|
21,311 | $7,208,446 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MKL
Markel Group In...
|
Financial Services | 2.34% | 2.54% |
#13
Prev: #13
|
1.4 |
—
|
-43 | -1.5% |
P
S
|
2,732 | $5,335,623 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ACGL
Arch Capital Gr...
|
Financial Services | 2.26% | 2.48% |
#14
Prev: #14
|
1.4 |
—
|
-978 | -1.8% |
P
S
|
52,943 | $5,138,648 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MELI
Mercadolibre In...
|
Consumer Cyclical | 2.20% | 2.20% |
#15
Prev: #15
|
2.9 |
—
|
289 | 10.9% |
P
S
|
2,950 | $5,007,301 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOG
Alphabet Inc. C...
|
Communication Services | 1.85% | 1.71% |
#16
2
Prev: #18
|
1.2 |
—
|
-480 | -3.9% |
P
S
|
11,949 | $4,221,940 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
JNJ
Johnson & Johns...
|
Healthcare | 1.83% | 2.00% |
#17
Prev: #17
|
1.2 |
—
|
-686 | -4.0% |
P
S
|
16,410 | $4,167,648 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MU
Micron Technolo...
|
Technology | 1.81% | 0.59% |
#18
18
Prev: #36
|
1.2 |
—
|
-62 | -1.7% |
P
S
|
3,573 | $4,124,278 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
WY
Weyerhaeuser Co...
|
Real Estate | 1.79% | 2.04% |
#19
3
Prev: #16
|
1.2 |
—
|
-4,052 | -2.3% |
P
S
|
170,530 | $4,082,488 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CSCO
Cisco Systems, ...
|
Technology | 1.60% | 1.15% |
#20
4
Prev: #24
|
1.6 |
—
|
no change | no change |
P
S
|
31,024 | $3,644,079 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BRK/B
Berkshire Hatha...
|
Financial Services | 1.58% | 1.65% |
#21
2
Prev: #19
|
1.6 |
—
|
no change | no change |
P
S
|
7,203 | $3,604,309 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SO
Southern Compan...
|
Utilities | 1.38% | 1.52% |
#22
1
Prev: #21
|
1.1 |
—
|
-25 | -0.1% |
P
S
|
32,813 | $3,140,532 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FNV
Franco-Nevada C...
|
Basic Materials | 1.27% | 1.65% |
#23
3
Prev: #20
|
1.0 |
—
|
-94 | -0.7% |
P
S
|
13,852 | $2,887,311 | 2022 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DUK
Duke Energy Cor...
|
Utilities | 1.23% | 1.41% |
#24
2
Prev: #22
|
1.0 |
—
|
-344 | -1.5% |
P
S
|
22,131 | $2,801,342 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NU
Nu Holdings Ltd...
|
Financial Services | 0.98% | 1.21% |
#25
2
Prev: #23
|
0.9 |
—
|
-8,800 | -5.0% |
P
S
|
167,075 | $2,232,122 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BWXT
BWX Technologie...
|
Industrials | 0.90% | 1.04% |
#26
Prev: #26
|
0.9 |
—
|
-65 | -0.6% |
P
S
|
10,558 | $2,055,115 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SLB
SLB
|
Energy | 0.87% | 1.09% |
#27
2
Prev: #25
|
0.8 |
—
|
-1,430 | -3.3% |
P
S
|
42,464 | $1,987,091 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DHR
Danaher Corp
|
Healthcare | 0.81% | 0.81% |
#28
1
Prev: #29
|
2.3 |
—
|
798 | 9.0% |
P
S
|
9,662 | $1,844,269 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AAPL
Apple Inc.
|
Technology | 0.77% | 0.91% |
#29
2
Prev: #27
|
0.8 |
—
|
-1,405 | -18.7% |
P
S
|
6,095 | $1,763,649 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BA
Boeing
|
Industrials | 0.72% | 0.75% |
#30
2
Prev: #32
|
0.8 |
—
|
-300 | -3.8% |
P
S
|
7,550 | $1,634,349 | 2017 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CNI
Canadian Nation...
|
Industrials | 0.72% | 0.67% |
#31
2
Prev: #33
|
1.3 |
—
|
no change | no change |
P
S
|
13,700 | $1,633,588 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BRW
Saba Capital In...
|
Financial Services | 0.72% | 0.78% |
#32
1
Prev: #31
|
0.8 |
—
|
7,367 | 3.1% |
P
S
|
248,039 | $1,629,617 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CVX
Chevron Corp.
|
Energy | 0.63% | 0.89% |
#33
5
Prev: #28
|
0.8 |
—
|
-260 | -2.9% |
P
S
|
8,709 | $1,443,604 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CPNG
Coupang, Inc.
|
Consumer Cyclical | 0.63% | 0.79% |
#34
4
Prev: #30
|
0.8 |
—
|
-4,905 | -5.6% |
P
S
|
82,896 | $1,439,904 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BAM
Brookfield Asse...
|
Financial Services | 0.59% | 0.67% |
#35
1
Prev: #34
|
0.7 |
—
|
-1,481 | -4.7% |
P
S
|
29,990 | $1,345,051 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AMAT
Applied Materia...
|
Technology | 0.57% | 0.19% |
#36
31
Prev: #67
|
3.2 |
—
|
655 | 57.2% |
P
S
|
1,800 | $1,301,400 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
USFR
WisdomTree Floa...
|
ETF | 0.47% | 0.23% |
#37
27
Prev: #64
|
3.2 |
—
|
11,900 | 125.3% |
P
S
|
21,395 | $1,077,238 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XOM
ExxonMobil Corp
|
Energy | 0.47% | 0.66% |
#38
3
Prev: #35
|
0.7 |
—
|
-266 | -3.3% |
P
S
|
7,855 | $1,073,936 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BXMT
Blackstone Mort...
|
Real Estate | 0.47% | 0.58% |
#39
2
Prev: #37
|
0.7 |
—
|
1 | 0.0% |
P
S
|
61,532 | $1,071,887 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TPL
Texas Pacific L...
|
Energy | 0.46% | 0.45% |
#40
1
Prev: #41
|
2.2 |
—
|
390 | 19.5% |
P
S
|
2,385 | $1,043,771 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BTI
British America...
|
Consumer Defensive | 0.46% | 0.49% |
#41
1
Prev: #40
|
0.7 |
—
|
-260 | -1.5% |
P
S
|
16,860 | $1,041,274 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
LB
Landbridge Co L...
|
Energy | 0.44% | 0.37% |
#42
5
Prev: #47
|
2.2 |
—
|
1,450 | 12.8% |
P
S
|
12,735 | $1,009,121 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BMY
Bristol-Myers S...
|
Healthcare | 0.42% | 0.54% |
#43
5
Prev: #38
|
0.7 |
—
|
-2,034 | -11.0% |
P
S
|
16,538 | $952,920 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
LLY
Eli Lilly & Com...
|
Healthcare | 0.40% | 0.44% |
#44
2
Prev: #42
|
0.2 |
—
|
-246 | -24.4% |
P
S
|
763 | $915,165 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
WB
WaterBridge Inf...
|
Communication Services | 0.37% | 0.32% |
#45
9
Prev: #54
|
0.6 |
—
|
250 | 1.0% |
P
S
|
24,875 | $852,466 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EQT
EQT Corporation
|
Energy | 0.37% | 0.54% |
#46
7
Prev: #39
|
0.6 |
—
|
-1,775 | -10.0% |
P
S
|
15,895 | $845,137 | 2022 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PM
Philip Morris I...
|
Consumer Defensive | 0.36% | 0.34% |
#47
4
Prev: #51
|
2.1 |
—
|
300 | 7.1% |
P
S
|
4,540 | $828,005 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ED
Consolidated Ed...
|
Utilities | 0.36% | 0.43% |
#48
5
Prev: #43
|
0.6 |
—
|
-400 | -5.1% |
P
S
|
7,467 | $826,074 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
D
Dominion Resour...
|
Utilities | 0.35% | 0.35% |
#49
1
Prev: #50
|
0.6 |
—
|
35 | 0.3% |
P
S
|
11,835 | $808,212 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CL
Colgate-Palmoli...
|
Consumer Defensive | 0.35% | 0.36% |
#50
2
Prev: #48
|
1.1 |
—
|
no change | no change |
P
S
|
8,810 | $807,701 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 109 holdings