NPORT-EX 2 tm229758-5_ADX_POI.htm out - none - 46.181s
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Schedule of Investments
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Common Stocks — 99.3% ​
Communication Services — 9.2%
 ​
Alphabet Inc. Class A (b)
 ​ ​ ​ ​ 45,800 ​ ​ ​ ​ $ 127,385,830 ​ ​
Electronic Arts Inc.
 ​ ​ ​ ​ 93,700 ​ ​ ​ ​ ​ 11,853,987 ​ ​
Fox Corporation Class A
 ​ ​ ​ ​ 186,500 ​ ​ ​ ​ ​ 7,357,425 ​ ​
Meta Platforms, Inc. Class A (b)
 ​ ​ ​ ​ 214,400 ​ ​ ​ ​ ​ 47,673,984 ​ ​
T-Mobile US, Inc. (b)
 ​ ​ ​ ​ 27,400 ​ ​ ​ ​ ​ 3,516,790 ​ ​
Verizon Communications Inc.
 ​ ​ ​ ​ 436,300 ​ ​ ​ ​ ​ 22,225,122 ​ ​
Walt Disney Company (b)
 ​ ​ ​ ​ 87,700 ​ ​ ​ ​ ​ 12,028,932 ​ ​
​ ​ ​ ​ ​ 232,042,070 ​ ​
Consumer Discretionary — 11.8%
 ​
Amazon.com, Inc. (b)
 ​ ​ ​ ​ 31,700 ​ ​ ​ ​ ​ 103,340,415 ​ ​
Booking Holdings Inc. (b)
 ​ ​ ​ ​ 7,900 ​ ​ ​ ​ ​ 18,552,755 ​ ​
Capri Holdings Limited (b)
 ​ ​ ​ ​ 298,900 ​ ​ ​ ​ ​ 15,360,471 ​ ​
General Motors Company (b)
 ​ ​ ​ ​ 196,300 ​ ​ ​ ​ ​ 8,586,162 ​ ​
Home Depot, Inc.
 ​ ​ ​ ​ 23,900 ​ ​ ​ ​ ​ 7,153,987 ​ ​
Lowe’s Companies, Inc.
 ​ ​ ​ ​ 48,700 ​ ​ ​ ​ ​ 9,846,653 ​ ​
Marriott International, Inc. Class A (b)
 ​ ​ ​ ​ 115,600 ​ ​ ​ ​ ​ 20,316,700 ​ ​
NIKE, Inc. Class B
 ​ ​ ​ ​ 87,600 ​ ​ ​ ​ ​ 11,787,456 ​ ​
O’Reilly Automotive, Inc. (b)
 ​ ​ ​ ​ 27,600 ​ ​ ​ ​ ​ 18,904,896 ​ ​
Target Corporation
 ​ ​ ​ ​ 79,900 ​ ​ ​ ​ ​ 16,956,378 ​ ​
Tesla, Inc. (b)
 ​ ​ ​ ​ 37,500 ​ ​ ​ ​ ​ 40,410,000 ​ ​
TJX Companies, Inc.
 ​ ​ ​ ​ 190,500 ​ ​ ​ ​ ​ 11,540,490 ​ ​
Ulta Beauty, Inc. (b)
 ​ ​ ​ ​ 41,100 ​ ​ ​ ​ ​ 16,366,842 ​ ​
​ ​ ​ ​ ​ 299,123,205 ​ ​
Consumer Staples — 5.9%
 ​
Coca-Cola Company
 ​ ​ ​ ​ 437,200 ​ ​ ​ ​ ​ 27,106,400 ​ ​
Costco Wholesale Corporation
 ​ ​ ​ ​ 60,200 ​ ​ ​ ​ ​ 34,666,170 ​ ​
Molson Coors Beverage Company Class B
 ​ ​ ​ ​ 243,500 ​ ​ ​ ​ ​ 12,998,030 ​ ​
PepsiCo, Inc.
 ​ ​ ​ ​ 78,800 ​ ​ ​ ​ ​ 13,189,544 ​ ​
Philip Morris International Inc.
 ​ ​ ​ ​ 294,700 ​ ​ ​ ​ ​ 27,684,118 ​ ​
Procter & Gamble Company
 ​ ​ ​ ​ 158,250 ​ ​ ​ ​ ​ 24,180,600 ​ ​
Walmart Inc.
 ​ ​ ​ ​ 70,300 ​ ​ ​ ​ ​ 10,469,076 ​ ​
​ ​ ​ ​ ​ 150,293,938 ​ ​
Energy — 4.2%
 ​
Adams Natural Resources Fund, Inc. (c)(f)
 ​ ​ ​ ​ 2,186,774 ​ ​ ​ ​ ​ 45,769,180 ​ ​
ConocoPhillips
 ​ ​ ​ ​ 215,000 ​ ​ ​ ​ ​ 21,500,000 ​ ​
Marathon Petroleum Corporation
 ​ ​ ​ ​ 216,700 ​ ​ ​ ​ ​ 18,527,850 ​ ​
Pioneer Natural Resources Company
 ​ ​ ​ ​ 77,300 ​ ​ ​ ​ ​ 19,327,319 ​ ​
​ ​ ​ ​ ​ 105,124,349 ​ ​
​
​
Schedule of Investments (continued)
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Financials — 10.9%
 ​
American International Group, Inc.
 ​ ​ ​ ​ 530,400 ​ ​ ​ ​ $ 33,293,208 ​ ​
Bank of America Corp.
 ​ ​ ​ ​ 1,148,400 ​ ​ ​ ​ ​ 47,337,048 ​ ​
Berkshire Hathaway Inc. Class B (b)
 ​ ​ ​ ​ 96,600 ​ ​ ​ ​ ​ 34,091,106 ​ ​
BlackRock, Inc.
 ​ ​ ​ ​ 21,700 ​ ​ ​ ​ ​ 16,582,489 ​ ​
JPMorgan Chase & Co.
 ​ ​ ​ ​ 124,700 ​ ​ ​ ​ ​ 16,999,104 ​ ​
MetLife, Inc.
 ​ ​ ​ ​ 422,600 ​ ​ ​ ​ ​ 29,700,328 ​ ​
Moody’s Corporation
 ​ ​ ​ ​ 80,000 ​ ​ ​ ​ ​ 26,992,800 ​ ​
Morgan Stanley
 ​ ​ ​ ​ 160,600 ​ ​ ​ ​ ​ 14,036,440 ​ ​
Truist Financial Corporation
 ​ ​ ​ ​ 400,400 ​ ​ ​ ​ ​ 22,702,680 ​ ​
Wells Fargo & Company
 ​ ​ ​ ​ 711,900 ​ ​ ​ ​ ​ 34,498,674 ​ ​
​ ​ ​ ​ ​ 276,233,877 ​ ​
Health Care — 13.9%
 ​
Abbott Laboratories
 ​ ​ ​ ​ 269,400 ​ ​ ​ ​ ​ 31,886,184 ​ ​
AbbVie, Inc.
 ​ ​ ​ ​ 216,600 ​ ​ ​ ​ ​ 35,113,026 ​ ​
Centene Corporation (b)
 ​ ​ ​ ​ 294,500 ​ ​ ​ ​ ​ 24,793,955 ​ ​
CVS Health Corporation
 ​ ​ ​ ​ 325,100 ​ ​ ​ ​ ​ 32,903,371 ​ ​
Eli Lilly and Company
 ​ ​ ​ ​ 149,600 ​ ​ ​ ​ ​ 42,840,952 ​ ​
Health Care Select Sector SPDR Fund
 ​ ​ ​ ​ 166,500 ​ ​ ​ ​ ​ 22,808,835 ​ ​
IDEXX Laboratories, Inc. (b)
 ​ ​ ​ ​ 30,500 ​ ​ ​ ​ ​ 16,685,330 ​ ​
IQVIA Holdings Inc. (b)
 ​ ​ ​ ​ 56,200 ​ ​ ​ ​ ​ 12,994,002 ​ ​
Regeneron Pharmaceuticals, Inc. (b)
 ​ ​ ​ ​ 45,000 ​ ​ ​ ​ ​ 31,428,900 ​ ​
Thermo Fisher Scientific Inc.
 ​ ​ ​ ​ 68,600 ​ ​ ​ ​ ​ 40,518,590 ​ ​
UnitedHealth Group Incorporated
 ​ ​ ​ ​ 117,700 ​ ​ ​ ​ ​ 60,023,469 ​ ​
​ ​ ​ ​ 351,996,614 ​ ​
Industrials — 8.0%
 ​
Caterpillar Inc.
 ​ ​ ​ ​ 115,100 ​ ​ ​ ​ ​ 25,646,582 ​ ​
General Dynamics Corporation
 ​ ​ ​ ​ 109,800 ​ ​ ​ ​ ​ 26,481,564 ​ ​
Old Dominion Freight Line, Inc.
 ​ ​ ​ ​ 62,100 ​ ​ ​ ​ ​ 18,548,028 ​ ​
Parker-Hannifin Corporation
 ​ ​ ​ ​ 82,400 ​ ​ ​ ​ ​ 23,381,824 ​ ​
Quanta Services, Inc.
 ​ ​ ​ ​ 214,200 ​ ​ ​ ​ ​ 28,190,862 ​ ​
Raytheon Technologies Corporation
 ​ ​ ​ ​ 258,900 ​ ​ ​ ​ ​ 25,649,223 ​ ​
TransDigm Group Incorporated (b)
 ​ ​ ​ ​ 35,800 ​ ​ ​ ​ ​ 23,325,132 ​ ​
Union Pacific Corporation
 ​ ​ ​ ​ 118,900 ​ ​ ​ ​ ​ 32,484,669 ​ ​
​ ​ ​ ​ ​ 203,707,884 ​ ​
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Schedule of Investments (continued)
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Information Technology — 27.9%
 ​
Adobe Inc. (b)
 ​ ​ ​ ​ 50,700 ​ ​ ​ ​ $ 23,099,934 ​ ​
Apple Inc.
 ​ ​ ​ ​ 983,700 ​ ​ ​ ​ ​ 171,763,857 ​ ​
Arista Networks, Inc. (b)
 ​ ​ ​ ​ 149,200 ​ ​ ​ ​ ​ 20,735,816 ​ ​
Automatic Data Processing, Inc.
 ​ ​ ​ ​ 102,600 ​ ​ ​ ​ ​ 23,345,604 ​ ​
Cisco Systems, Inc.
 ​ ​ ​ ​ 271,900 ​ ​ ​ ​ ​ 15,161,144 ​ ​
Intuit Inc.
 ​ ​ ​ ​ 47,600 ​ ​ ​ ​ ​ 22,887,984 ​ ​
Lam Research Corporation
 ​ ​ ​ ​ 42,600 ​ ​ ​ ​ ​ 22,902,186 ​ ​
Mastercard Incorporated Class A
 ​ ​ ​ ​ 119,500 ​ ​ ​ ​ ​ 42,706,910 ​ ​
Micron Technology, Inc.
 ​ ​ ​ ​ 212,600 ​ ​ ​ ​ ​ 16,559,414 ​ ​
Microsoft Corporation
 ​ ​ ​ ​ 618,100 ​ ​ ​ ​ ​ 190,566,411 ​ ​
NVIDIA Corporation
 ​ ​ ​ ​ 208,600 ​ ​ ​ ​ ​ 56,918,596 ​ ​
Oracle Corporation
 ​ ​ ​ ​ 122,200 ​ ​ ​ ​ ​ 10,109,606 ​ ​
Palo Alto Networks, Inc. (b)
 ​ ​ ​ ​ 37,300 ​ ​ ​ ​ ​ 23,219,623 ​ ​
PayPal Holdings, Inc. (b)
 ​ ​ ​ ​ 40,700 ​ ​ ​ ​ ​ 4,706,955 ​ ​
QUALCOMM Incorporated
 ​ ​ ​ ​ 157,500 ​ ​ ​ ​ ​ 24,069,150 ​ ​
Visa Inc. Class A
 ​ ​ ​ ​ 171,700 ​ ​ ​ ​ ​ 38,077,909 ​ ​
​ ​ ​ ​ ​ 706,831,099 ​ ​
Materials — 2.2%
 ​
Linde plc
 ​ ​ ​ ​ 46,200 ​ ​ ​ ​ ​ 14,757,666 ​ ​
LyondellBasell Industries N.V.
 ​ ​ ​ ​ 111,200 ​ ​ ​ ​ ​ 11,433,584 ​ ​
Sherwin-Williams Company
 ​ ​ ​ ​ 65,300 ​ ​ ​ ​ ​ 16,300,186 ​ ​
Steel Dynamics, Inc.
 ​ ​ ​ ​ 165,100 ​ ​ ​ ​ ​ 13,774,293 ​ ​
​ ​ ​ ​ ​ 56,265,729 ​ ​
Real Estate — 2.6%
 ​
CBRE Group, Inc. Class A (b)
 ​ ​ ​ ​ 150,000 ​ ​ ​ ​ ​ 13,728,000 ​ ​
Equinix, Inc.
 ​ ​ ​ ​ 15,600 ​ ​ ​ ​ ​ 11,569,272 ​ ​
Prologis, Inc.
 ​ ​ ​ ​ 140,300 ​ ​ ​ ​ ​ 22,655,644 ​ ​
Simon Property Group, Inc.
 ​ ​ ​ ​ 134,300 ​ ​ ​ ​ ​ 17,668,508 ​ ​
​ ​ ​ ​ 65,621,424 ​ ​
Utilities — 2.7%
 ​
CenterPoint Energy, Inc.
 ​ ​ ​ ​ 490,300 ​ ​ ​ ​ ​ 15,022,792 ​ ​
Evergy, Inc.
 ​ ​ ​ ​ 202,600 ​ ​ ​ ​ ​ 13,845,684 ​ ​
Exelon Corporation
 ​ ​ ​ ​ 290,400 ​ ​ ​ ​ ​ 13,831,752 ​ ​
NextEra Energy, Inc.
 ​ ​ ​ ​ 307,700 ​ ​ ​ ​ ​ 26,065,267 ​ ​
​ ​ ​ ​ 68,765,495 ​ ​
Total Common Stocks ​
(Cost $1,448,447,112)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,516,005,684 ​ ​
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​
Schedule of Investments (continued)
​
March 31, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Other Investments — 0.0% ​
Financials — 0.0%
 ​
Adams Funds Advisers, LLC (b)(d)(f)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(Cost $150,000)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 466,000
Short-Term Investments — 0.7% ​
Money Market Funds — 0.7%
 ​
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 0.36% (e)
 ​ ​ ​ ​ 14,312,996 ​ ​ ​ ​ ​ 14,310,133
Northern Institutional Treasury Portfolio, 0.17% (e)
 ​ ​ ​ ​ 2,642,419 ​ ​ ​ ​ ​ 2,642,419
Total Short-Term Investments ​
(Cost $16,953,077)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,952,552
Total — 100.0% ​
(Cost $1,465,550,189)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,533,424,236
Other Assets Less Liabilities — 0.0% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (251,491 )
Net Assets — 100.0%
 ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,533,172,745
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​
(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)
During the three months ended March 31, 2022, investments in affilates 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 Fund, Inc.
(non-controlled)		 ​ ​ ​ ​ 2,186,774 ​ ​ ​ ​ ​ 21,868 ​ ​ ​ ​ ​ 196,810 ​ ​ ​ ​ ​ 9,643,673 ​ ​ ​ ​ ​ 45,769,180 ​ ​
​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 21,868 ​ ​ ​ ​ $ 196,810 ​ ​ ​ ​ $ 9,643,673 ​ ​ ​ ​ $ 46,235,180 ​ ​
Information regarding transactions in equity securities during the quarter can be found on our website at: www.adamsfunds.com.
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