0001104659-22-120811.txt : 20221121 0001104659-22-120811.hdr.sgml : 20221121 20221121165700 ACCESSION NUMBER: 0001104659-22-120811 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221121 DATE AS OF CHANGE: 20221121 PERIOD START: 20221231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADAMS DIVERSIFIED EQUITY FUND, INC. CENTRAL INDEX KEY: 0000002230 IRS NUMBER: 134912740 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-00248 FILM NUMBER: 221406497 BUSINESS ADDRESS: STREET 1: 500 EAST PRATT STREET STREET 2: SUITE 1300 CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4107525900 MAIL ADDRESS: STREET 1: 500 EAST PRATT STREET STREET 2: SUITE 1300 CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: ADAMS DIVERSIFIED EQUITY FUND DATE OF NAME CHANGE: 20150331 FORMER COMPANY: FORMER CONFORMED NAME: ADAMS EXPRESS CO DATE OF NAME CHANGE: 19920703 NPORT-P 1 primary_doc.xml NPORT-P false 0000002230 XXXXXXXX Adams Diversified Equity Fund, Inc. 811-00248 0000002230 5493005W7G81BNPP7M23 500 East Pratt Street Suite 1300 Baltimore 21202 410-752-5900 N/A N/A 2022-12-31 2022-09-30 N 2026790433 7936438 2018853995 0 0 0 0 0 0 0 0 0 0 0 0 0 478546.000000000000 N N/A N/A Adams Natural Resources Fund, Inc. 549300LPTQAH0G3NGD42 Adams Natural Resources Fund, Inc. 00548F105 2186774 NS USD 42554622.04 2.1079 Long EC RF US N 1 N N N Steel Dynamics, Inc. 549300HGGKEL4FYTTQ83 Steel Dynamics, Inc. 858119100 146200 NS USD 10372890 0.5138 Long EC CORP US N 1 N N N Boeing Company RVHJWBXLJ1RFUBSY1F30 Boeing Company 097023105 37400 NS USD 4528392 0.2243 Long EC CORP US N 1 N N N FedEx Corporation 549300E707U7WNPZN687 FedEx Corporation 31428X106 52400 NS USD 7779828 0.3854 Long EC CORP US N 1 N N N General Dynamics Corporation 9C1X8XOOTYY2FNYTVH06 General Dynamics Corporation 369550108 109800 NS USD 23296266 1.1539 Long EC CORP US N 1 N N N Industrial Select Sector SPDR Fund 549300HQI51T8KP6U325 Industrial Select Sector SPDR Fund 81369Y704 72900 NS USD 6039036 0.2991 Long EC RF US N 1 N N N Parker-Hannifin Corporation 5493002CONDB4N2HKI23 Parker-Hannifin Corporation 701094104 82400 NS USD 19966344 0.989 Long EC CORP US N 1 N N N Quanta Services, Inc. SHVRXXEACT60MMH07S24 Quanta Services, Inc. 74762E102 153300 NS USD 19528887 0.9673 Long EC CORP US N 1 N N N Raytheon Technologies Corporation N/A Raytheon Technologies Corporation 75513E101 192300 NS USD 15741678 0.7797 Long EC CORP US N 1 N N N TransDigm Group Incorporated N/A TransDigm Group Incorporated 893641100 35800 NS USD 18788556 0.9307 Long EC CORP US N 1 N N N Union Pacific Corporation 549300LMMRSZZCZ8CL11 Union Pacific Corporation 907818108 118900 NS USD 23164098 1.1474 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 ConocoPhillips 20825C104 215000 NS USD 22003100 1.0899 Long EC CORP US N 1 N N N Waste Connections, Inc. TPHWKPW6MRKN6NESLU52 Waste Connections, Inc. 94106B101 134300 NS USD 18147959 0.8989 Long EC CORP CA N 1 N N N Amazon.com, Inc. ZXTILKJKG63JELOEG630 Amazon.com, Inc. 023135106 549900 NS USD 62138700 3.0779 Long EC CORP US N 1 N N N Booking Holdings Inc. N/A Booking Holdings Inc. 09857L108 10000 NS USD 16432100 0.8139 Long EC CORP US N 1 N N N Capri Holdings Limited N/A Capri Holdings Limited G1890L107 298900 NS USD 11489716 0.5691 Long EC CORP BV N 1 N N N Home Depot, Inc. QEKMOTMBBKA8I816DO57 Home Depot, Inc. 437076102 58000 NS USD 16004520 0.7928 Long EC CORP US N 1 N N N Las Vegas Sands Corp. N/A Las Vegas Sands Corp. 517834107 195000 NS USD 7316400 0.3624 Long EC CORP US N 1 N N N Marriott International, Inc. Class A 225YDZ14ZO8E1TXUSU86 Marriott International, Inc. Class A 571903202 94800 NS USD 13285272 0.6581 Long EC CORP US N 1 N N N O'Reilly Automotive, Inc. 549300K2RLMQL149Q332 O'Reilly Automotive, Inc. 67103H107 27100 NS USD 19060785 0.9441 Long EC CORP US N 1 N N N Tesla, Inc. 54930043XZGB27CTOV49 Tesla, Inc. 88160R101 143000 NS USD 37930750 1.8788 Long EC CORP US N 1 N N N Tractor Supply Company 549300OJ9VZHZRO6I137 Tractor Supply Company 892356106 119000 NS USD 22119720 1.0957 Long EC CORP US N 1 N N N Marathon Petroleum Corporation 3BNYRYQHD39K4LCKQF12 Marathon Petroleum Corporation 56585A102 196100 NS USD 19478613 0.9648 Long EC CORP US N 1 N N N Ulta Beauty, Inc. 529900CIV6HN8M28YM82 Ulta Beauty, Inc. 90384S303 51600 NS USD 20701404 1.0254 Long EC CORP US N 1 N N N YUM! Brands, Inc. 549300JE8XHZZ7OHN517 YUM! Brands, Inc. 988498101 121200 NS USD 12888408 0.6384 Long EC CORP US N 1 N N N Archer-Daniels-Midland Company 549300LO13MQ9HYSTR83 Archer-Daniels-Midland Company 039483102 133900 NS USD 10772255 0.5336 Long EC CORP US N 1 N N N Coca-Cola Company UWJKFUJFZ02DKWI3RY53 Coca-Cola Company 191216100 165700 NS USD 9282514 0.4598 Long EC CORP US N 1 N N N Constellation Brands, Inc. Class A 5493005GKEG8QCVY7037 Constellation Brands, Inc. Class A 21036P108 74200 NS USD 17042256 0.8442 Long EC CORP US N 1 N N N Costco Wholesale Corporation 29DX7H14B9S6O3FD6V18 Costco Wholesale Corporation 22160K105 43700 NS USD 20638199 1.0223 Long EC CORP US N 1 N N N Molson Coors Brewing Company Class B 54930073LBBH6ZCBE225 Molson Coors Brewing Company Class B 60871R209 308700 NS USD 14814513 0.7338 Long EC CORP US N 1 N N N PepsiCo, Inc. FJSUNZKFNQ5YPJ5OT455 PepsiCo, Inc. 713448108 78800 NS USD 12864888 0.6372 Long EC CORP US N 1 N N N Philip Morris International Inc. HL3H1H2BGXWVG3BSWR90 Philip Morris International Inc. 718172109 173800 NS USD 14427138 0.7146 Long EC CORP US N 1 N N N Procter & Gamble Company 2572IBTT8CCZW6AU4141 Procter & Gamble Company 742718109 115650 NS USD 14600812.5 0.7232 Long EC CORP US N 1 N N N Pioneer Natural Resources Company FY8JBF7CCL2VE4F1B628 Pioneer Natural Resources Company 723787107 77300 NS USD 16737769 0.8291 Long EC CORP US N 1 N N N Sysco Corporation 5RGWIFLMGH3YS7KWI652 Sysco Corporation 871829107 233900 NS USD 16539069 0.8192 Long EC CORP US N 1 N N N AbbVie, Inc. FR5LCKFTG8054YNNRU85 AbbVie, Inc. 00287Y109 83800 NS USD 11246798 0.5571 Long EC CORP US N 1 N N N AmerisourceBergen Corporation AI8GXW8LG5WK7E9UD086 AmerisourceBergen Corporation 03073E105 156900 NS USD 21233277 1.0517 Long EC CORP US N 1 N N N Centene Corporation 549300Z7JJ4TQSQGT333 Centene Corporation 15135B101 294500 NS USD 22915045 1.1351 Long EC CORP US N 1 N N N CVS Health Corporation 549300EJG376EN5NQE29 CVS Health Corporation 126650100 385000 NS USD 36717450 1.8187 Long EC CORP US N 1 N N N Eli Lilly and Company FRDRIPF3EKNDJ2CQJL29 Eli Lilly and Company 532457108 53200 NS USD 17202220 0.8521 Long EC CORP US N 1 N N N Health Care Select Sector SPDR Fund 549300EJNY3KKJHPOY44 Health Care Select Sector SPDR Fund 81369Y209 275400 NS USD 33353694 1.6521 Long EC RF US N 1 N N N Incyte Corporation 549300Z4WN6JVZ3T4680 Incyte Corporation 45337C102 304300 NS USD 20278552 1.0045 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 121800 NS USD 19897248 0.9856 Long EC CORP US N 1 N N N Pfizer Inc. 765LHXWGK1KXCLTFYQ30 Pfizer Inc. 717081103 373700 NS USD 16353112 0.81 Long EC CORP US N 1 N N N Air Products and Chemicals, Inc. 7QEON6Y1RL5XR3R1W237 Air Products and Chemicals, Inc. 009158106 15100 NS USD 3514223 0.1741 Long EC CORP US N 1 N N N Regeneron Pharmaceuticals, Inc. 549300RCBFWIRX3HYQ56 Regeneron Pharmaceuticals, Inc. 75886F107 30600 NS USD 21079422 1.0441 Long EC CORP US N 1 N N N Thermo Fisher Scientific Inc. HCHV7422L5HDJZCRFL38 Thermo Fisher Scientific Inc. 883556102 76600 NS USD 38850754 1.9244 Long EC CORP US N 1 N N N UnitedHealth Group Incorporated 549300GHBMY8T5GXDE41 UnitedHealth Group Incorporated 91324P102 99300 NS USD 50150472 2.4841 Long EC CORP US N 1 N N N American International Group, Inc. ODVCVCQG2BP6VHV36M30 American International Group, Inc. 026874784 530400 NS USD 25183392 1.2474 Long EC CORP US N 1 N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 Bank of America Corp. 060505104 1148400 NS USD 34681680 1.7179 Long EC CORP US N 1 N N N Berkshire Hathaway Inc. Class B 5493000C01ZX7D35SD85 Berkshire Hathaway Inc. Class B 084670702 96600 NS USD 25794132 1.2777 Long EC CORP US N 1 N N N Charles Schwab Corporation 549300VSGCJ7E698NM85 Charles Schwab Corporation 808513105 366200 NS USD 26318794 1.3037 Long EC CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Co. 46625H100 124700 NS USD 13031150 0.6455 Long EC CORP US N 1 N N N MetLife, Inc. C4BXATY60WC6XEOZDX54 MetLife, Inc. 59156R108 422600 NS USD 25685628 1.2723 Long EC CORP US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley 617446448 323300 NS USD 25543933 1.2653 Long EC CORP US N 1 N N N FMC Corporation CKDHZ2X64EEBQCSP7013 FMC Corporation 302491303 60000 NS USD 6342000 0.3141 Long EC CORP US N 1 N N N Wells Fargo & Company PBLD0EJDB5FWOLXP3B76 Wells Fargo & Company 949746101 814700 NS USD 32767234 1.6231 Long EC CORP US N 1 N N N Willis Towers Watson plc SGT8R1MU6ESIC7UJC518 Willis Towers Watson plc G96629103 58500 NS USD 11754990 0.5823 Long EC CORP US N 1 N N N Advanced Micro Devices, Inc. R2I72C950HOYXII45366 Advanced Micro Devices, Inc. 007903107 106300 NS USD 6735168 0.3336 Long EC CORP US N 1 N N N Apple Inc. HWUPKR0MPOU8FGXBT394 Apple Inc. 037833100 983700 NS USD 135947340 6.7339 Long EC CORP US N 1 N N N Arista Networks, Inc. 635400H1WKBLOQERUU95 Arista Networks, Inc. 040413106 149200 NS USD 16843188 0.8343 Long EC CORP US N 1 N N N Automatic Data Processing, Inc. HGBOLILQXWER4SAL2I23 Automatic Data Processing, Inc. 053015103 108100 NS USD 24451139 1.2111 Long EC CORP US N 1 N N N Cisco Systems, Inc. 8E6NF1YAL0WT6CWXXV93 Cisco Systems, Inc. 17275R102 271900 NS USD 10876000 0.5387 Long EC CORP US N 1 N N N Fidelity National Information Services, Inc. 6WQI0GK1PRFVBA061U48 Fidelity National Information Services, Inc. 31620M106 200300 NS USD 15136671 0.7498 Long EC CORP US N 1 N N N Intuit Inc. VI90HBPH7XSFMB9E4M29 Intuit Inc. 461202103 47600 NS USD 18436432 0.9132 Long EC CORP US N 1 N N N Lam Research Corporation 549300I4GMO6D34U1T02 Lam Research Corporation 512807108 48900 NS USD 17897400 0.8865 Long EC CORP US N 1 N N N Linde plc N/A Linde plc G5494J103 50000 NS USD 13479500 0.6677 Long EC CORP IE N 1 N N N Mastercard Incorporated Class A AR5L2ODV9HN37376R084 Mastercard Incorporated Class A 57636Q104 122900 NS USD 34945386 1.731 Long EC CORP US N 1 N N N Microsoft Corporation INR2EJN1ERAN0W5ZP974 Microsoft Corporation 594918104 618100 NS USD 143955490 7.1306 Long EC CORP US N 1 N N N NVIDIA Corporation 549300S4KLFTLO7GSQ80 NVIDIA Corporation 67066G104 166400 NS USD 20199296 1.0005 Long EC CORP US N 1 N N N Oracle Corporation 1Z4GXXU7ZHVWFCD8TV52 Oracle Corporation 68389X105 122200 NS USD 7462754 0.3697 Long EC CORP US N 1 N N N Palo Alto Networks, Inc. 549300QXR2YVZV231H43 Palo Alto Networks, Inc. 697435105 93000 NS USD 15232470 0.7545 Long EC CORP US N 1 N N N QUALCOMM Incorporated H1J8DDZKZP6H7RWC0H53 QUALCOMM Incorporated 747525103 183100 NS USD 20686638 1.0247 Long EC CORP US N 1 N N N Technology Select Sector SPDR Fund 549300BR5T0JNM2MW070 Technology Select Sector SPDR Fund 81369Y803 41400 NS USD 4917492 0.2436 Long EC RF US N 1 N N N Visa Inc. Class A 549300JZ4OKEHW3DPJ59 Visa Inc. Class A 92826C839 177300 NS USD 31497345 1.5602 Long EC CORP US N 1 N N N Alphabet Inc. Class A 5493006MHB84DD0ZWV18 Alphabet Inc. Class A 02079K305 834300 NS USD 79800795 3.9528 Long EC CORP US N 1 N N N AT&T Inc. 549300Z40J86GGSTL398 AT&T Inc. 00206R102 805700 NS USD 12359438 0.6122 Long EC CORP US N 1 N N N LyondellBasell Industries N.V. BN6WCCZ8OVP3ITUUVN49 LyondellBasell Industries N.V. N53745100 41900 NS USD 3154232 0.1562 Long EC CORP NL N 1 N N N Electronic Arts Inc. 549300O7A67PUEYKDL45 Electronic Arts Inc. 285512109 129800 NS USD 15019158 0.7439 Long EC CORP US N 1 N N N Fox Corporation Class A 5493006FBVCBN6H1JG79 Fox Corporation Class A 35137L105 452300 NS USD 13876564 0.6873 Long EC CORP US N 1 N N N Meta Platforms, Inc. Class A BQ4BKCS1HXDV9HN80Z93 Meta Platforms, Inc. Class A 30303M102 202300 NS USD 27448064 1.3596 Long EC CORP US N 1 N N N T-Mobile US, Inc. 549300QHIJYOHPACPG31 T-Mobile US, Inc. 872590104 78600 NS USD 10545762 0.5224 Long EC CORP US N 1 N N N Verizon Communications Inc. 2S72QS2UO2OESLG6Y829 Verizon Communications Inc. 92343V104 108400 NS USD 4115948 0.2039 Long EC CORP US N 1 N N N American Electric Power Company, Inc. 1B4S6S7G0TW5EE83BO58 American Electric Power Company, Inc. 025537101 184100 NS USD 15915445 0.7883 Long EC CORP US N 1 N N N CenterPoint Energy, Inc. 21TPXMRRHFKOBHDC8J74 CenterPoint Energy, Inc. 15189T107 490300 NS USD 13816654 0.6844 Long EC CORP US N 1 N N N CMS Energy Corporation 549300IA9XFBAGNIBW29 CMS Energy Corporation 125896100 242800 NS USD 14140672 0.7004 Long EC CORP US N 1 N N N WEC Energy Group Inc. 549300IGLYTZUK3PVP70 WEC Energy Group Inc. 92939U106 170500 NS USD 15247815 0.7553 Long EC CORP US N 1 N N N Invitation Homes, Inc. N/A Invitation Homes, Inc. 46187W107 302200 NS USD 10205294 0.5055 Long EC CORP US N 1 N N N Sherwin-Williams Company Z15BMIOX8DDH0X2OBP21 Sherwin-Williams Company 824348106 46000 NS USD 9418500 0.4665 Long EC CORP US N 1 N N N Prologis, Inc. 529900DFH19P073LZ636 Prologis, Inc. 74340W103 174800 NS USD 17759680 0.8797 Long EC CORP US N 1 N N N Realty Income Corporation 549300CUWDAUZSH43859 Realty Income Corporation 756109104 190900 NS USD 11110380 0.5503 Long EC CORP US N 1 N N N SBA Communications Corporation Class A N/A SBA Communications Corporation Class A 78410G104 45200 NS USD 12866180 0.6373 Long EC CORP US N 1 N N N Adams Funds Advisers, LLC N/A Adams Funds Advisers, LLC 134912740 1 OU Other USD 466000 0.0231 Long CORP US N 3 N N N Morgan Stanley Institutional Liquidity Funds Prime Portfolio N/A Morgan Stanley Institutional Liquidity Funds Prime Portfolio 61747C715 15713615.763 NS USD 15713615.763 0.7783 Long STIV RF US N 1 N N N Altria Group Inc. N/A Total Return Swap N/A 255400 NS USD -1114616.68 -0.0552 Long DE CORP US N 2 Morgan Stanley IGJSJL3JD5P30I6NJZ34 Y Receive total return on underlying security Pay financing rate based on notional amount and daily U.S. Federal Funds rate plus 0.55% 2023-09-27 0 USD 0 USD 11628821.72 USD -1114616.68 N N N Consumer Staples Select Sector SPDR Fund N/A Total Return Swap N/A -152900 NS USD 1330474.64 0.0659 Short DE RF US N 2 Morgan Stanley IGJSJL3JD5P30I6NJZ34 Y Receive financing amount based on notional amount and daily U.S. Federal Funds rate less 1.33% Pay total return on underlying security 2023-09-27 0 USD 0 USD -11589330.72 USD 1330474.64 N N N Northern Institutional Treasury Portfolio N/A Northern Institutional Treasury Portfolio 665279808 1072179 NS USD 1072179 0.0531 Long STIV RF US N 1 N N N 2022-11-21 Adams Diversified Equity Fund, Inc. Christy Sloan Christy Sloan Assistant Treasurer XXXX NPORT-EX 2 tm2226972-7_adx-nportex.htm out - none - 66.076s
​
Schedule of Investments
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Common Stocks — 99.3% ​
Communication Services — 8.1%
 ​
Alphabet Inc. Class A (b)
 ​ ​ ​ ​ 834,300 ​ ​ ​ ​ $ 79,800,795 ​ ​
AT&T Inc.
 ​ ​ ​ ​ 805,700 ​ ​ ​ ​ ​ 12,359,438 ​ ​
Electronic Arts Inc.
 ​ ​ ​ ​ 129,800 ​ ​ ​ ​ ​ 15,019,158 ​ ​
Fox Corporation Class A
 ​ ​ ​ ​ 452,300 ​ ​ ​ ​ ​ 13,876,564 ​ ​
Meta Platforms, Inc. Class A (b)
 ​ ​ ​ ​ 202,300 ​ ​ ​ ​ ​ 27,448,064 ​ ​
T-Mobile US, Inc. (b)
 ​ ​ ​ ​ 78,600 ​ ​ ​ ​ ​ 10,545,762 ​ ​
Verizon Communications Inc.
 ​ ​ ​ ​ 108,400 ​ ​ ​ ​ ​ 4,115,948 ​ ​
​ ​ ​ ​ ​ 163,165,729 ​ ​
Consumer Discretionary — 11.9%
 ​
Amazon.com, Inc. (b)
 ​ ​ ​ ​ 549,900 ​ ​ ​ ​ ​ 62,138,700 ​ ​
Booking Holdings Inc. (b)
 ​ ​ ​ ​ 10,000 ​ ​ ​ ​ ​ 16,432,100 ​ ​
Capri Holdings Limited (b)
 ​ ​ ​ ​ 298,900 ​ ​ ​ ​ ​ 11,489,716 ​ ​
Home Depot, Inc.
 ​ ​ ​ ​ 58,000 ​ ​ ​ ​ ​ 16,004,520 ​ ​
Las Vegas Sands Corp. (b)
 ​ ​ ​ ​ 195,000 ​ ​ ​ ​ ​ 7,316,400 ​ ​
Marriott International, Inc. Class A
 ​ ​ ​ ​ 94,800 ​ ​ ​ ​ ​ 13,285,272 ​ ​
O’Reilly Automotive, Inc. (b)
 ​ ​ ​ ​ 27,100 ​ ​ ​ ​ ​ 19,060,785 ​ ​
Tesla, Inc. (b)
 ​ ​ ​ ​ 143,000 ​ ​ ​ ​ ​ 37,930,750 ​ ​
Tractor Supply Company
 ​ ​ ​ ​ 119,000 ​ ​ ​ ​ ​ 22,119,720 ​ ​
Ulta Beauty, Inc. (b)
 ​ ​ ​ ​ 51,600 ​ ​ ​ ​ ​ 20,701,404 ​ ​
YUM! Brands, Inc.
 ​ ​ ​ ​ 121,200 ​ ​ ​ ​ ​ 12,888,408 ​ ​
​ ​ ​ ​ ​ 239,367,775 ​ ​
Consumer Staples — 6.5%
 ​
Archer-Daniels-Midland Company
 ​ ​ ​ ​ 133,900 ​ ​ ​ ​ ​ 10,772,255 ​ ​
Coca-Cola Company
 ​ ​ ​ ​ 165,700 ​ ​ ​ ​ ​ 9,282,514 ​ ​
Constellation Brands, Inc. Class A
 ​ ​ ​ ​ 74,200 ​ ​ ​ ​ ​ 17,042,256 ​ ​
Costco Wholesale Corporation
 ​ ​ ​ ​ 43,700 ​ ​ ​ ​ ​ 20,638,199 ​ ​
Molson Coors Beverage Company Class B
 ​ ​ ​ ​ 308,700 ​ ​ ​ ​ ​ 14,814,513 ​ ​
PepsiCo, Inc.
 ​ ​ ​ ​ 78,800 ​ ​ ​ ​ ​ 12,864,888 ​ ​
Philip Morris International Inc.
 ​ ​ ​ ​ 173,800 ​ ​ ​ ​ ​ 14,427,138 ​ ​
Procter & Gamble Company
 ​ ​ ​ ​ 115,650 ​ ​ ​ ​ ​ 14,600,812 ​ ​
Sysco Corporation
 ​ ​ ​ ​ 233,900 ​ ​ ​ ​ ​ 16,539,069 ​ ​
​ ​ ​ ​ 130,981,644 ​ ​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Energy — 5.0%
 ​
Adams Natural Resources Fund, Inc. (c)(g)
 ​ ​ ​ ​ 2,186,774 ​ ​ ​ ​ $ 42,554,622 ​ ​
ConocoPhillips
 ​ ​ ​ ​ 215,000 ​ ​ ​ ​ ​ 22,003,100 ​ ​
Marathon Petroleum Corporation
 ​ ​ ​ ​ 196,100 ​ ​ ​ ​ ​ 19,478,613 ​ ​
Pioneer Natural Resources Company
 ​ ​ ​ ​ 77,300 ​ ​ ​ ​ ​ 16,737,769 ​ ​
​ ​ ​ ​ 100,774,104 ​ ​
Financials — 10.9%
 ​
American International Group, Inc.
 ​ ​ ​ ​ 530,400 ​ ​ ​ ​ ​ 25,183,392 ​ ​
Bank of America Corp.
 ​ ​ ​ ​ 1,148,400 ​ ​ ​ ​ ​ 34,681,680 ​ ​
Berkshire Hathaway Inc. Class B (b)
 ​ ​ ​ ​ 96,600 ​ ​ ​ ​ ​ 25,794,132 ​ ​
Charles Schwab Corp.
 ​ ​ ​ ​ 366,200 ​ ​ ​ ​ ​ 26,318,794 ​ ​
JPMorgan Chase & Co.
 ​ ​ ​ ​ 124,700 ​ ​ ​ ​ ​ 13,031,150 ​ ​
MetLife, Inc.
 ​ ​ ​ ​ 422,600 ​ ​ ​ ​ ​ 25,685,628 ​ ​
Morgan Stanley
 ​ ​ ​ ​ 323,300 ​ ​ ​ ​ ​ 25,543,933 ​ ​
Wells Fargo & Company
 ​ ​ ​ ​ 814,700 ​ ​ ​ ​ ​ 32,767,234 ​ ​
Willis Towers Watson plc
 ​ ​ ​ ​ 58,500 ​ ​ ​ ​ ​ 11,754,990 ​ ​
​ ​ ​ ​ ​ 220,760,933 ​ ​
Health Care — 15.3%
 ​
AbbVie, Inc.
 ​ ​ ​ ​ 83,800 ​ ​ ​ ​ ​ 11,246,798 ​ ​
AmerisourceBergen Corporation
 ​ ​ ​ ​ 156,900 ​ ​ ​ ​ ​ 21,233,277 ​ ​
Centene Corporation (b)
 ​ ​ ​ ​ 294,500 ​ ​ ​ ​ ​ 22,915,045 ​ ​
CVS Health Corporation
 ​ ​ ​ ​ 385,000 ​ ​ ​ ​ ​ 36,717,450 ​ ​
Eli Lilly and Company
 ​ ​ ​ ​ 53,200 ​ ​ ​ ​ ​ 17,202,220 ​ ​
Health Care Select Sector SPDR Fund
 ​ ​ ​ ​ 275,400 ​ ​ ​ ​ ​ 33,353,694 ​ ​
Incyte Corporation (b)
 ​ ​ ​ ​ 304,300 ​ ​ ​ ​ ​ 20,278,552 ​ ​
Johnson & Johnson
 ​ ​ ​ ​ 121,800 ​ ​ ​ ​ ​ 19,897,248 ​ ​
Pfizer Inc.
 ​ ​ ​ ​ 373,700 ​ ​ ​ ​ ​ 16,353,112 ​ ​
Regeneron Pharmaceuticals, Inc. (b)
 ​ ​ ​ ​ 30,600 ​ ​ ​ ​ ​ 21,079,422 ​ ​
Thermo Fisher Scientific Inc.
 ​ ​ ​ ​ 76,600 ​ ​ ​ ​ ​ 38,850,754 ​ ​
UnitedHealth Group Incorporated
 ​ ​ ​ ​ 99,300 ​ ​ ​ ​ ​ 50,150,472 ​ ​
​ ​ ​ ​ ​ 309,278,044 ​ ​
​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Industrials — 7.8%
 ​
Boeing Company (b)
 ​ ​ ​ ​ 37,400 ​ ​ ​ ​ $ 4,528,392 ​ ​
FedEx Corporation
 ​ ​ ​ ​ 52,400 ​ ​ ​ ​ ​ 7,779,828 ​ ​
General Dynamics Corporation
 ​ ​ ​ ​ 109,800 ​ ​ ​ ​ ​ 23,296,266 ​ ​
Industrial Select Sector SPDR Fund
 ​ ​ ​ ​ 72,900 ​ ​ ​ ​ ​ 6,039,036 ​ ​
Parker-Hannifin Corporation
 ​ ​ ​ ​ 82,400 ​ ​ ​ ​ ​ 19,966,344 ​ ​
Quanta Services, Inc.
 ​ ​ ​ ​ 153,300 ​ ​ ​ ​ ​ 19,528,887 ​ ​
Raytheon Technologies Corporation
 ​ ​ ​ ​ 192,300 ​ ​ ​ ​ ​ 15,741,678 ​ ​
TransDigm Group Incorporated
 ​ ​ ​ ​ 35,800 ​ ​ ​ ​ ​ 18,788,556 ​ ​
Union Pacific Corporation
 ​ ​ ​ ​ 118,900 ​ ​ ​ ​ ​ 23,164,098 ​ ​
Waste Connections, Inc.
 ​ ​ ​ ​ 134,300 ​ ​ ​ ​ ​ 18,147,959 ​ ​
​ ​ ​ ​ ​ 156,981,044 ​ ​
Information Technology — 26.0%
 ​
Advanced Micro Devices, Inc. (b)
 ​ ​ ​ ​ 106,300 ​ ​ ​ ​ ​ 6,735,168 ​ ​
Apple Inc.
 ​ ​ ​ ​ 983,700 ​ ​ ​ ​ ​ 135,947,340 ​ ​
Arista Networks, Inc. (b)
 ​ ​ ​ ​ 149,200 ​ ​ ​ ​ ​ 16,843,188 ​ ​
Automatic Data Processing, Inc.
 ​ ​ ​ ​ 108,100 ​ ​ ​ ​ ​ 24,451,139 ​ ​
Cisco Systems, Inc.
 ​ ​ ​ ​ 271,900 ​ ​ ​ ​ ​ 10,876,000 ​ ​
Fidelity National Information Services, Inc.
 ​ ​ ​ ​ 200,300 ​ ​ ​ ​ ​ 15,136,671 ​ ​
Intuit Inc.
 ​ ​ ​ ​ 47,600 ​ ​ ​ ​ ​ 18,436,432 ​ ​
Lam Research Corporation
 ​ ​ ​ ​ 48,900 ​ ​ ​ ​ ​ 17,897,400 ​ ​
Mastercard Incorporated Class A
 ​ ​ ​ ​ 122,900 ​ ​ ​ ​ ​ 34,945,386 ​ ​
Microsoft Corporation
 ​ ​ ​ ​ 618,100 ​ ​ ​ ​ ​ 143,955,490 ​ ​
NVIDIA Corporation
 ​ ​ ​ ​ 166,400 ​ ​ ​ ​ ​ 20,199,296 ​ ​
Oracle Corporation
 ​ ​ ​ ​ 122,200 ​ ​ ​ ​ ​ 7,462,754 ​ ​
Palo Alto Networks, Inc. (b)
 ​ ​ ​ ​ 93,000 ​ ​ ​ ​ ​ 15,232,470 ​ ​
QUALCOMM Incorporated
 ​ ​ ​ ​ 183,100 ​ ​ ​ ​ ​ 20,686,638 ​ ​
Technology Select Sector SPDR Fund
 ​ ​ ​ ​ 41,400 ​ ​ ​ ​ ​ 4,917,492 ​ ​
Visa Inc. Class A
 ​ ​ ​ ​ 177,300 ​ ​ ​ ​ ​ 31,497,345 ​ ​
​ ​ ​ ​ ​ 525,220,209 ​ ​
Materials — 2.3%
 ​
Air Products and Chemicals, Inc.
 ​ ​ ​ ​ 15,100 ​ ​ ​ ​ ​ 3,514,223 ​ ​
FMC Corporation
 ​ ​ ​ ​ 60,000 ​ ​ ​ ​ ​ 6,342,000 ​ ​
Linde plc
 ​ ​ ​ ​ 50,000 ​ ​ ​ ​ ​ 13,479,500 ​ ​
LyondellBasell Industries N.V.
 ​ ​ ​ ​ 41,900 ​ ​ ​ ​ ​ 3,154,232 ​ ​
Sherwin-Williams Company
 ​ ​ ​ ​ 46,000 ​ ​ ​ ​ ​ 9,418,500 ​ ​
Steel Dynamics, Inc.
 ​ ​ ​ ​ 146,200 ​ ​ ​ ​ ​ 10,372,890 ​ ​
​ ​ ​ ​ ​ 46,281,345 ​ ​
​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Real Estate — 2.6%
 ​
Invitation Homes, Inc.
 ​ ​ ​ ​ 302,200 ​ ​ ​ ​ $ 10,205,294
Prologis, Inc.
 ​ ​ ​ ​ 174,800 ​ ​ ​ ​ ​ 17,759,680
Realty Income Corporation
 ​ ​ ​ ​ 190,900 ​ ​ ​ ​ ​ 11,110,380
SBA Communications Corp. Class A
 ​ ​ ​ ​ 45,200 ​ ​ ​ ​ ​ 12,866,180
​ ​ ​ ​ 51,941,534
Utilities — 2.9%
 ​
American Electric Power Company, Inc.
 ​ ​ ​ ​ 184,100 ​ ​ ​ ​ ​ 15,915,445
CenterPoint Energy, Inc.
 ​ ​ ​ ​ 490,300 ​ ​ ​ ​ ​ 13,816,654
CMS Energy Corporation
 ​ ​ ​ ​ 242,800 ​ ​ ​ ​ ​ 14,140,672
WEC Energy Group, Inc.
 ​ ​ ​ ​ 170,500 ​ ​ ​ ​ ​ 15,247,815
​ ​ ​ ​ ​ 59,120,586
Total Common Stocks ​
(Cost $1,462,237,272)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,003,872,947
Other Investments — 0.0% ​
Financials — 0.0%
 ​
Adams Funds Advisers, LLC (b)(d)(g)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(Cost $150,000)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 466,000
Short-Term Investments — 0.8% ​
Money Market Funds — 0.8%
 ​
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 3.03% (e)
 ​ ​ ​ ​ 15,713,616 ​ ​ ​ ​ ​ 15,713,616
Northern Institutional Treasury Portfolio, 2.43% (e)
 ​ ​ ​ ​ 1,072,179 ​ ​ ​ ​ ​ 1,072,179
Total Short-Term Investments ​
(Cost $16,783,023)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,785,795
Total — 100.1% ​
(Cost $1,479,170,295)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,021,124,742
Other Assets Less Liabilities — (0.1)% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,270,747) ​ ​
Net Assets — 100.0%
 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,018,853,995
​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
Total Return Swap Agreements — 0.0%
Description
 ​ ​
​ ​ ​ ​ ​ ​
Value and
Unrealized
Appreciation
(Assets)
​ ​
Value and
Unrealized
Depreciation
(Liabilities)
 ​
Terms
 ​ ​
Contract
Type
 ​ ​
Underlying
Security
 ​ ​
Termination
Date
​ ​
Notional
Amount
​
Receive total return on underlying
security and pay financing
amount based on notional
amount and daily U.S. Federal
Funds rate plus 0.55%.
 ​ ​
Long
​ ​ Altria Group Inc.
(255,400 shares) 		​ ​
9/27/2023
 ​ ​ ​ $ 11,628,821 ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (1,114,617) ​ ​
Pay total return on underlying security and receive financing amount based on notional amount and daily U.S. Federal Funds rate less 1.33%.
 ​ ​
Short
​ ​ Consumer Staples Select
Sector SPDR Fund
(152,900 shares)
 ​ ​
9/27/2023
 ​ ​ ​ ​ (11,589,331) ​ ​ ​ ​ ​ 1,330,475 ​ ​ ​ ​ ​ — ​ ​
Gross unrealized gain (loss) on open total return swap agreements ​ ​ ​ $ 1,330,475 ​ ​ ​ ​ $ (1,114,617) ​ ​
Net unrealized gain on open total return swap agreements (f) ​ ​ ​ $ 215,858 ​ ​ ​ ​ ​ ​ ​ ​
​
(a)
Common stocks are listed on the New York Stock Exchange or NASDAQ and are valued at the last reported sale price on the day of valuation.​
​
(b)
Presently non-dividend paying.
​
(c)
Non-controlled affiliate, a closed-end sector fund, registered as an investment company under the Investment Company Act of 1940.
​
(d)
Controlled affiliate valued using fair value procedures.
​
(e)
Rate presented is as of period-end and represents the annualized yield earned over the previous seven days.
​
(f)
Counterparty for all open total return swap agreements is Morgan Stanley. At September 30, 2022, $240,000 in cash collateral was held by the Fund.
​
(g)
During the nine months ended September 30, 2022, investments in affiliates were as follows:
​
​ ​ ​ ​ ​ ​ ​ ​ ​
​
Affiliate
 ​ ​
Shares held
 ​ ​
Net realized gain
(loss) and
long-term capital
gain distributions
 ​ ​
Dividend income
and short-term
capital gain
distributions
 ​ ​
Change in
unrealized
appreciation
 ​ ​
Value
 ​
​ Adams Funds Advisers, LLC (controlled) ​ ​ ​ ​ n/a ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 466,000 ​ ​
​ Adams Natural Resources Funds, Inc.
(non-controlled)		 ​ ​ ​ ​ 2,186,774 ​ ​ ​ ​ ​ 21,868 ​ ​ ​ ​ ​ 634,164 ​ ​ ​ ​ ​ 6,429,116 ​ ​ ​ ​ ​ 42,554,622 ​ ​
​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 21,868 ​ ​ ​ ​ $ 634,164 ​ ​ ​ ​ $ 6,429,116 ​ ​ ​ ​ $ 43,020,622 ​ ​
Information regarding transactions in equity securities during the quarter can be found on our website at: www.adamsfunds.com.