NPORT-EX 2 tm229758-6_PEO_POI.htm out - none - 44.193s
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Schedule of Investments
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Common Stocks — 99.2% ​
Energy — 79.4%
 ​
Equipment & Services — 6.2%
 ​
Baker Hughes Company
 ​ ​ ​ ​ 171,900 ​ ​ ​ ​ $ 6,258,879 ​ ​
Halliburton Company
 ​ ​ ​ ​ 349,970 ​ ​ ​ ​ ​ 13,253,364 ​ ​
Schlumberger N.V.
 ​ ​ ​ ​ 423,800 ​ ​ ​ ​ ​ 17,507,178 ​ ​
​ ​ ​ ​ ​ 37,019,421 ​ ​
Exploration & Production — 27.1%
 ​
APA Corporation
 ​ ​ ​ ​ 222,200 ​ ​ ​ ​ ​ 9,183,526 ​ ​
Canadian Natural Resources Limited
 ​ ​ ​ ​ 47,800 ​ ​ ​ ​ ​ 2,962,644 ​ ​
Cheniere Energy, Inc.
 ​ ​ ​ ​ 26,000 ​ ​ ​ ​ ​ 3,604,900 ​ ​
ConocoPhillips
 ​ ​ ​ ​ 489,226 ​ ​ ​ ​ ​ 48,922,600 ​ ​
Coterra Energy Inc.
 ​ ​ ​ ​ 153,600 ​ ​ ​ ​ ​ 4,142,592 ​ ​
Devon Energy Corporation
 ​ ​ ​ ​ 119,600 ​ ​ ​ ​ ​ 7,071,948 ​ ​
Diamondback Energy, Inc.
 ​ ​ ​ ​ 99,100 ​ ​ ​ ​ ​ 13,584,628 ​ ​
EOG Resources, Inc.
 ​ ​ ​ ​ 177,600 ​ ​ ​ ​ ​ 21,175,248 ​ ​
Hess Corporation
 ​ ​ ​ ​ 53,700 ​ ​ ​ ​ ​ 5,748,048 ​ ​
Marathon Oil Corporation
 ​ ​ ​ ​ 118,400 ​ ​ ​ ​ ​ 2,973,024 ​ ​
Occidental Petroleum Corporation
 ​ ​ ​ ​ 318,951 ​ ​ ​ ​ ​ 18,097,280 ​ ​
Pioneer Natural Resources Company
 ​ ​ ​ ​ 97,400 ​ ​ ​ ​ ​ 24,352,922 ​ ​
Whiting Petroleum Corporation
 ​ ​ ​ ​ 452 ​ ​ ​ ​ ​ 36,842 ​ ​
Whiting Petroleum Corporation warrants,
strike price $73.44, expires 9/1/24 (b)
 ​ ​ ​ ​ 2,654 ​ ​ ​ ​ ​ 54,407 ​ ​
Whiting Petroleum Corporation warrants,
strike price $83.45, expires 9/1/25 (b)
 ​ ​ ​ ​ 1,327 ​ ​ ​ ​ ​ 19,786 ​ ​
​ ​ ​ ​ ​ 161,930,395 ​ ​
Integrated Oil & Gas — 33.9%
 ​
BP plc Sponsored ADR
 ​ ​ ​ ​ 51,300 ​ ​ ​ ​ ​ 1,508,220 ​ ​
Cenovus Energy Inc.
 ​ ​ ​ ​ 176,700 ​ ​ ​ ​ ​ 2,947,356 ​ ​
Chevron Corporation
 ​ ​ ​ ​ 549,091 ​ ​ ​ ​ ​ 89,408,488 ​ ​
Exxon Mobil Corporation
 ​ ​ ​ ​ 1,260,730 ​ ​ ​ ​ ​ 104,123,691 ​ ​
Shell plc Sponsored ADR
 ​ ​ ​ ​ 28,600 ​ ​ ​ ​ ​ 1,570,998 ​ ​
Suncor Energy Inc.
 ​ ​ ​ ​ 46,400 ​ ​ ​ ​ ​ 1,512,176 ​ ​
TotalEnergies SE Sponsored ADR
 ​ ​ ​ ​ 28,500 ​ ​ ​ ​ ​ 1,440,390 ​ ​
​ ​ ​ ​ 202,511,319 ​ ​
Refining & Marketing — 7.2%
 ​
Marathon Petroleum Corporation
 ​ ​ ​ ​ 247,985 ​ ​ ​ ​ ​ 21,202,717 ​ ​
Phillips 66
 ​ ​ ​ ​ 100,575 ​ ​ ​ ​ ​ 8,688,674 ​ ​
Valero Energy Corporation
 ​ ​ ​ ​ 131,600 ​ ​ ​ ​ ​ 13,362,664 ​ ​
​ ​ ​ ​ 43,254,055 ​ ​
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Schedule of Investments (continued)
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Storage & Transportation — 5.0%
 ​
Kinder Morgan, Inc.
 ​ ​ ​ ​ 464,400 ​ ​ ​ ​ $ 8,781,804 ​ ​
ONEOK, Inc.
 ​ ​ ​ ​ 143,500 ​ ​ ​ ​ ​ 10,135,405 ​ ​
Williams Companies, Inc.
 ​ ​ ​ ​ 328,700 ​ ​ ​ ​ ​ 10,981,867 ​ ​
​ ​ ​ ​ ​ 29,899,076 ​ ​
Materials — 19.8%
 ​
Chemicals — 11.5%
 ​
Air Products and Chemicals, Inc.
 ​ ​ ​ ​ 23,500 ​ ​ ​ ​ ​ 5,872,885 ​ ​
Albemarle Corporation
 ​ ​ ​ ​ 9,000 ​ ​ ​ ​ ​ 1,990,350 ​ ​
Celanese Corporation
 ​ ​ ​ ​ 6,000 ​ ​ ​ ​ ​ 857,220 ​ ​
CF Industries Holdings, Inc.
 ​ ​ ​ ​ 47,900 ​ ​ ​ ​ ​ 4,936,574 ​ ​
Corteva Inc.
 ​ ​ ​ ​ 66,245 ​ ​ ​ ​ ​ 3,807,763 ​ ​
Dow, Inc.
 ​ ​ ​ ​ 65,745 ​ ​ ​ ​ ​ 4,189,271 ​ ​
DuPont de Nemours, Inc.
 ​ ​ ​ ​ 73,987 ​ ​ ​ ​ ​ 5,443,963 ​ ​
Eastman Chemical Company
 ​ ​ ​ ​ 8,900 ​ ​ ​ ​ ​ 997,334 ​ ​
Ecolab Inc.
 ​ ​ ​ ​ 25,600 ​ ​ ​ ​ ​ 4,519,936 ​ ​
FMC Corporation
 ​ ​ ​ ​ 10,500 ​ ​ ​ ​ ​ 1,381,485 ​ ​
International Flavors & Fragrances Inc.
 ​ ​ ​ ​ 21,006 ​ ​ ​ ​ ​ 2,758,718 ​ ​
Linde plc
 ​ ​ ​ ​ 67,800 ​ ​ ​ ​ ​ 21,657,354 ​ ​
LyondellBasell Industries N.V.
 ​ ​ ​ ​ 61,400 ​ ​ ​ ​ ​ 6,313,148 ​ ​
Mosaic Company
 ​ ​ ​ ​ 21,001 ​ ​ ​ ​ ​ 1,396,567 ​ ​
PPG Industries, Inc.
 ​ ​ ​ ​ 19,700 ​ ​ ​ ​ ​ 2,582,079 ​ ​
​ ​ ​ ​ ​ 68,704,647 ​ ​
Construction Materials — 2.2%
 ​
Martin Marietta Materials, Inc.
 ​ ​ ​ ​ 4,500 ​ ​ ​ ​ ​ 1,732,005 ​ ​
Sherwin-Williams Company
 ​ ​ ​ ​ 38,700 ​ ​ ​ ​ ​ 9,660,294 ​ ​
Vulcan Materials Company
 ​ ​ ​ ​ 9,800 ​ ​ ​ ​ ​ 1,800,260 ​ ​
​ ​ ​ ​ ​ 13,192,559 ​ ​
Containers & Packaging — 2.0%
 ​
Amcor plc
 ​ ​ ​ ​ 125,100 ​ ​ ​ ​ ​ 1,417,383 ​ ​
Avery Dennison Corporation
 ​ ​ ​ ​ 5,500 ​ ​ ​ ​ ​ 956,835 ​ ​
Ball Corporation
 ​ ​ ​ ​ 29,100 ​ ​ ​ ​ ​ 2,619,000 ​ ​
International Paper Company
 ​ ​ ​ ​ 28,200 ​ ​ ​ ​ ​ 1,301,430 ​ ​
Packaging Corporation of America
 ​ ​ ​ ​ 7,600 ​ ​ ​ ​ ​ 1,186,436 ​ ​
Sealed Air Corporation
 ​ ​ ​ ​ 55,500 ​ ​ ​ ​ ​ 3,716,280 ​ ​
WestRock Company
 ​ ​ ​ ​ 22,200 ​ ​ ​ ​ ​ 1,044,066 ​ ​
​ ​ ​ ​ ​ 12,241,430 ​ ​
Metals & Mining — 4.1%
 ​
Freeport-McMoRan, Inc.
 ​ ​ ​ ​ 233,200 ​ ​ ​ ​ ​ 11,599,368 ​ ​
Newmont Corporation
 ​ ​ ​ ​ 86,800 ​ ​ ​ ​ ​ 6,896,260 ​ ​
Nucor Corporation
 ​ ​ ​ ​ 21,100 ​ ​ ​ ​ ​ 3,136,515 ​ ​
Steel Dynamics, Inc.
 ​ ​ ​ ​ 32,500 ​ ​ ​ ​ ​ 2,711,475 ​ ​
​ ​ ​ ​ ​ 24,343,618 ​ ​
​
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Schedule of Investments (continued)
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Total Common Stocks ​
(Cost $464,296,078)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 593,096,520 ​ ​
Short-Term Investments — 0.8% ​
Money Market Funds — 0.8%
 ​
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 0.36% (c)
 ​ ​ ​ ​ 4,001,200 ​ ​ ​ ​ ​ 4,000,400 ​ ​
Northern Institutional Treasury Portfolio, 0.17% (c)
 ​ ​ ​ ​ 678,340 ​ ​ ​ ​ ​ 678,340 ​ ​
Total Short-Term Investments ​
(Cost $4,678,340)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,678,740 ​ ​
Total — 100.0% of Net Assets ​
(Cost $468,974,418)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 597,775,260 ​ ​
Other Assets Less Liabilities — 0.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 188,616 ​ ​
Net Assets — 100.0%
 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 597,963,876 ​ ​
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(a)
Common stocks and warrants 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)
Rate presented is as of period-end and represents the annualized yield earned over the previous seven days.
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​ ​ ​ ​ ​ ​ ​ ​ ​
Information regarding transactions in equity securities during the quarter can be found on our website at: www.adamsfunds.com.
 
 
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