Adalta Capital Management’s MDU Resources MDU Stock Holding History

Adalta Capital Management’s Portfolio MDU Stock Details MDU Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-6,355	Closed	-$114K	–	100
2025 Q3	$114K	Sell	6,355 -175	-3%	-$2.92K	0.05%	98
2025 Q2	$110K	Hold	6,530	–	–	0.06%	91
2025 Q1	$111K	Hold	6,530	–	–	0.06%	95
2024 Q4	$119K	Sell	6,530 -5,257	-45%	-$92.2K	0.06%	88
2024 Q3	$180K	Hold	11,787	–	–	0.09%	76
2024 Q2	$165K	Buy	11,787 +749	+7%	+$10.3K	0.09%	79
2024 Q1	$155K	Hold	11,038	–	–	0.09%	77
2023 Q4	$122K	Sell	11,038 -18,113	-62%	-$191K	0.07%	83
2023 Q3	$318K	Buy	29,151 +11,101	+62%	+$128K	0.22%	57
2023 Q2	$212K	Buy	18,050 +2,271	+14%	+$25.5K	0.14%	60
2023 Q1	$184K	Buy	15,779 +1,315	+9%	+$15.3K	0.13%	67
2022 Q4	$168K	Buy	+14,464	New	+$163K	0.12%	70

Other funds holding MDU

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Barrow, Hanley, Mewhinney & Strauss Dallas, Texas $33B AUM 40.62% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

EARNEST Partners Atlanta, Georgia $27.7B AUM 52.44% 1-Year Est. Return

State Street Boston, Massachusetts $3.38T AUM 44.17% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

SEI Investments Oaks, Pennsylvania $113B AUM 34.64% 1-Year Est. Return

RRAM

River Road Asset Management Louisville, Kentucky $8.99B AUM 12.83% 1-Year Est. Return

First Trust Advisors Wheaton, Illinois $170B AUM 46.21% 1-Year Est. Return

Adalta Capital Management's MDU Position: Q4 2025 in Review

Adalta Capital Management sold out of MDU Resources (MDU) in Q4 2025, closing a stake of 6,355 shares — an estimated $114K sold.

Adalta Capital Management first reported a position in MDU in Q4 2022 and held it in 12 quarters. The position peaked at $318K in Q3 2023. 416 funds tracked by Wall St. Rank hold MDU as of Q4 2025.

Adalta Capital Management reported no remaining MDU Resources position as of Q4 2025 after selling out during the quarter.
Adalta Capital Management sold 6,355 MDU Resources shares in Q4 2025, an estimated $114K.
Adalta Capital Management first reported a position in MDU Resources in Q4 2022 and held it in 12 quarters.
Adalta Capital Management's MDU Resources position peaked at $318K in Q3 2023.
416 funds tracked by Wall St. Rank held MDU Resources as of Q4 2025.

Based on Adalta Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.