ADAMS DIVERSIFIED EQUITY FUND, INC.

BALTIMORE, MD · CIK 2230 · 13F filing filed 2023-02-03

SEC-registered investment adviser since 2015 · corporation

Assets managed$3.0bn
Staff20 · 10 in investment roles
Main clients (by assets)Mutual funds and ETFs 100%
Websiteadamsfunds.com
Form ADV · 2026-03-27SEC adviser record

Legal entityADAMS DIVERSIFIED EQUITY FUND, INC. (US)

$2.1bn reported value +4.1% vs Q3 2022

93positions

30.5%in top 10

13 new 15 added 30 reduced 12 sold out vs Q3 2022

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	595,700	$142.9m6.85%	6.85%	Reduced -22.4k	-22,400 -3.6%
2	APPLE INC COM AAPL	AAPL	954,500	$124.0m5.95%	5.95%	Reduced -29.2k	-29,200 -3.0%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	736,900	$65.0m3.12%	3.12%	Reduced -97.4k	-97,400 -11.7%
4	UNITEDHEALTH GROUP INC COM UNH	UNH	99,300	$52.6m2.52%	2.52%	Unchanged
5	ADAM NAT RES FD INC COM PEO	PEO	2,186,774	$47.7m2.29%	2.29%	Unchanged
6	AMAZON COM INC COM AMZN	AMZN	538,100	$45.2m2.17%	2.17%	Reduced -11.8k	-11,800 -2.1%
7	MASTERCARD INCORPORATED CL A MA	MA	122,900	$42.7m2.05%	2.05%	Unchanged
8	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	76,600	$42.2m2.02%	2.02%	Unchanged
9	VISA INC COM CL A V	V	177,300	$36.8m1.77%	1.77%	Unchanged
10	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	117,800	$36.4m1.74%	1.74%	Added +21.2k	+21,200 21.9%
11	CVS HEALTH CORP COM CVS	CVS	385,000	$35.9m1.72%	1.72%	Unchanged
12	JPMORGAN CHASE & CO COM JPM	JPM	247,887	$33.2m1.59%	1.59%	Added +123.2k	+123,187 98.8%
13	AMERICAN INTL GROUP INC COM NEW AIG	AIG	493,600	$31.2m1.50%	1.50%	Reduced -36.8k	-36,800 -6.9%
14	WELLS FARGO CO NEW COM WFC	WFC	743,100	$30.7m1.47%	1.47%	Reduced -71.6k	-71,600 -8.8%
15	SCHWAB CHARLES CORP COM SCHW	SCHW	366,200	$30.5m1.46%	1.46%	Unchanged
16	BANK AMERICA CORP COM BAC	BAC	916,400	$30.4m1.46%	1.46%	Reduced -232.0k	-232,000 -20.2%
17	GENERAL DYNAMICS CORP COM GD	GD	109,800	$27.2m1.31%	1.31%	Unchanged
18	CENCORA INC COM COR	COR	156,900	$26.0m1.25%	1.25%	Unchanged
19	CONOCOPHILLIPS COM COP	COP	215,300	$25.4m1.22%	1.22%	Added +300	+300 0.1%
20	NORTHROP GRUMMAN CORP COM NOC	NOC	46,200	$25.2m1.21%	1.21%	New
21	INCYTE CORP COM INCY	INCY	304,300	$24.4m1.17%	1.17%	Unchanged
22	NVIDIA CORPORATION COM NVDA	NVDA	166,400	$24.3m1.17%	1.17%	Unchanged
23	REGENERON PHARMACEUTICALS COM REGN	REGN	33,500	$24.2m1.16%	1.16%	Added +2.9k	+2,900 9.5%
24	MOLINA HEALTHCARE INC COM MOH	MOH	72,900	$24.1m1.15%	1.15%	New
25	PARKER-HANNIFIN CORP COM PH	PH	82,400	$24.0m1.15%	1.15%	Unchanged
26	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	96,700	$23.7m1.13%	1.13%	Added +38.2k	+38,200 65.3%
27	TRACTOR SUPPLY CO COM TSCO	TSCO	104,700	$23.6m1.13%	1.13%	Reduced -14.3k	-14,300 -12.0%
28	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	95,200	$22.7m1.09%	1.09%	Reduced -12.9k	-12,900 -11.9%
29	MORGAN STANLEY COM NEW MS	MS	261,869	$22.3m1.07%	1.07%	Reduced -61.4k	-61,431 -19.0%
30	QUANTA SVCS INC COM PWR	PWR	153,300	$21.8m1.05%	1.05%	Unchanged
31	MARATHON PETE CORP COM MPC	MPC	187,000	$21.8m1.04%	1.04%	Reduced -9.1k	-9,100 -4.6%
32	ELECTRONIC ARTS INC COM EA	EA	177,100	$21.6m1.04%	1.04%	Added +47.3k	+47,300 36.4%
33	JOHNSON & JOHNSON COM JNJ	JNJ	121,800	$21.5m1.03%	1.03%	Unchanged
34	ULTA BEAUTY INC COM ULTA	ULTA	44,600	$20.9m1.00%	1.00%	Reduced -7.0k	-7,000 -13.6%
35	ABBVIE INC COM ABBV	ABBV	129,300	$20.9m1.00%	1.00%	Added +45.5k	+45,500 54.3%
36	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	24,600	$20.8m1.00%	1.00%	Reduced -2.5k	-2,500 -9.2%
37	PHILIP MORRIS INTL INC COM PM	PM	204,600	$20.7m0.99%	0.99%	Added +30.8k	+30,800 17.7%
38	LAM RESEARCH CORP COM COM		48,900	$20.6m0.99%	0.99%	Unchanged
39	QUALCOMM INC COM QCOM	QCOM	183,100	$20.1m0.97%	0.97%	Unchanged
40	PROLOGIS INC. COM PLD	PLD	174,800	$19.7m0.94%	0.94%	Unchanged
41	ELI LILLY & CO COM LLY	LLY	53,200	$19.5m0.93%	0.93%	Unchanged
42	UNION PAC CORP COM UNP	UNP	92,600	$19.2m0.92%	0.92%	Reduced -26.3k	-26,300 -22.1%
43	PFIZER INC COM PFE	PFE	373,700	$19.1m0.92%	0.92%	Unchanged
44	COMCAST CORP NEW CL A CMCSA	CMCSA	533,000	$18.6m0.89%	0.89%	New
45	INTUIT COM INTU	INTU	47,600	$18.5m0.89%	0.89%	Unchanged
46	HOME DEPOT INC COM HD	HD	58,000	$18.3m0.88%	0.88%	Unchanged
47	ARISTA NETWORKS INC COM COM		149,200	$18.1m0.87%	0.87%	Unchanged
48	PROCTER AND GAMBLE CO COM PG	PG	115,650	$17.5m0.84%	0.84%	Unchanged
49	SYSCO CORP COM SYY	SYY	223,600	$17.1m0.82%	0.82%	Reduced -10.3k	-10,300 -4.4%
50	META PLATFORMS INC CL A META	META	141,500	$17.0m0.82%	0.82%	Reduced -60.8k	-60,800 -30.1%
51	PPL CORP COM PPL	PPL	576,500	$16.8m0.81%	0.81%	New
52	TRANSDIGM GROUP INC COM TDG	TDG	26,700	$16.8m0.81%	0.81%	Reduced -9.1k	-9,100 -25.4%
53	BOOKING HOLDINGS INC COM BKNG	BKNG	8,200	$16.5m0.79%	0.79%	Reduced -1.8k	-1,800 -18.0%
54	CONSTELLATION BRANDS INC CL A STZ	STZ	70,600	$16.4m0.78%	0.78%	Reduced -3.6k	-3,600 -4.8%
55	TESLA INC COM TSLA	TSLA	131,500	$16.2m0.78%	0.78%	Reduced -11.5k	-11,500 -8.0%
56	SEMPRA COM SRE	SRE	104,800	$16.2m0.78%	0.78%	New
57	CAPRI HOLDINGS LIMITED SHS CPRI	CPRI	280,700	$16.1m0.77%	0.77%	Reduced -18.2k	-18,200 -6.1%
58	INGERSOLL RAND INC COM IR	IR	302,900	$15.8m0.76%	0.76%	New
59	CMS ENERGY CORP COM CMS	CMS	242,800	$15.4m0.74%	0.74%	Unchanged
60	LINDE PLC SHS 99952EUR	99952EUR	46,700	$15.2m0.73%	0.73%	Reduced -3.3k	-3,300 -6.6%
61	BOEING CO COM BA	BA	79,300	$15.1m0.72%	0.72%	Added +41.9k	+41,900 112.0%
62	MOLSON COORS BEVERAGE CO CL B TAP	TAP	288,100	$14.8m0.71%	0.71%	Reduced -20.6k	-20,600 -6.7%
63	T-MOBILE US INC COM TMUS	TMUS	104,300	$14.6m0.70%	0.70%	Added +25.7k	+25,700 32.7%
64	PIONEER NAT RES CO COM PXD	PXD	63,600	$14.5m0.70%	0.70%	Reduced -13.7k	-13,700 -17.7%
65	YUM BRANDS INC COM YUM	YUM	113,200	$14.5m0.70%	0.70%	Reduced -8.0k	-8,000 -6.6%
66	LINCOLN ELEC HLDGS INC COM LECO	LECO	98,980	$14.3m0.69%	0.69%	New
67	PEPSICO INC COM PEP	PEP	78,800	$14.2m0.68%	0.68%	Unchanged
68	MARRIOTT INTL INC NEW CL A MAR	MAR	94,800	$14.1m0.68%	0.68%	Unchanged
69	CENTERPOINT ENERGY INC COM CNP	CNP	460,600	$13.8m0.66%	0.66%	Reduced -29.7k	-29,700 -6.1%
70	PAYCOM SOFTWARE INC COM PAYC	PAYC	44,200	$13.7m0.66%	0.66%	New
71	COSTCO WHSL CORP NEW COM COST	COST	29,000	$13.2m0.63%	0.63%	Reduced -14.7k	-14,700 -33.6%
72	PALO ALTO NETWORKS INC COM PANW	PANW	93,000	$13.0m0.62%	0.62%	Unchanged
73	CISCO SYS INC COM CSCO	CSCO	271,900	$13.0m0.62%	0.62%	Unchanged
74	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	45,200	$12.7m0.61%	0.61%	Unchanged
75	ARCHER DANIELS MIDLAND CO COM ADM	ADM	133,900	$12.4m0.60%	0.60%	Unchanged
76	REALTY INCOME CORP COM O	O	190,900	$12.1m0.58%	0.58%	Unchanged
77	LAS VEGAS SANDS CORP COM LVS	LVS	250,400	$12.0m0.58%	0.58%	Added +55.4k	+55,400 28.4%
78	MARKETAXESS HLDGS INC COM MKTX	MKTX	39,781	$11.1m0.53%	0.53%	New
79	SHERWIN WILLIAMS CO COM SHW	SHW	46,000	$10.9m0.52%	0.52%	Unchanged
80	COCA COLA CO COM KO	KO	165,700	$10.5m0.51%	0.51%	Unchanged
81	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	76,900	$10.4m0.50%	0.50%	Reduced -198.5k	-198,500 -72.1%
82	VERIZON COMMUNICATIONS INC COM VZ	VZ	259,000	$10.2m0.49%	0.49%	Added +150.6k	+150,600 138.9%
83	STEEL DYNAMICS INC COM STLD	STLD	98,500	$9.6m0.46%	0.46%	Reduced -47.7k	-47,700 -32.6%
84	FMC CORP COM NEW FMC	FMC	75,300	$9.4m0.45%	0.45%	Added +15.3k	+15,300 25.5%
85	MERCK & CO INC COM MRK	MRK	84,000	$9.3m0.45%	0.45%	New
86	ORACLE CORP COM ORCL	ORCL	109,400	$8.9m0.43%	0.43%	Reduced -12.8k	-12,800 -10.5%
87	PUBLIC STORAGE COM PSA	PSA	31,800	$8.9m0.43%	0.43%	New
88	ADVANCED MICRO DEVICES INC COM AMD	AMD	106,300	$6.9m0.33%	0.33%	Unchanged
89	AIR PRODS & CHEMS INC COM APD	APD	22,300	$6.9m0.33%	0.33%	Added +7.2k	+7,200 47.7%
90	SELECT SECTOR SPDR TR SBI CONS STPLS XLP	XLP	83,100	$6.2m0.30%	0.30%	New
91	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	49,700	$6.2m0.30%	0.30%	Added +8.3k	+8,300 20.1%
92	DISNEY WALT CO COM DIS	DIS	58,800	$5.1m0.24%	0.24%	New
93	LYONDELLBASELL INDUSTRIES N SHS - A - LYB	LYB	41,900	$3.5m0.17%	0.17%	Unchanged

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
METLIFE INC MET	MET	422,600	$25.7m422.6k shares
CENTENE CORP DEL CNC	CNC	294,500	$22.9m294.5k shares
WASTE CONNECTIONS INC WCN	WCN	134,300	$18.1m134.3k shares
AMERICAN ELEC PWR CO INC AEP	AEP	184,100	$15.9m184.1k shares
RTX CORPORATION RTX	RTX	192,300	$15.7m192.3k shares
WEC ENERGY GROUP INC WEC	WEC	170,500	$15.2m170.5k shares
FIDELITY NATL INFORMATION SV FIS	FIS	200,300	$15.1m200.3k shares
FOX CORP FOXA	FOXA	452,300	$13.9m452.3k shares
AT&T INC T	T	805,700	$12.4m805.7k shares
INVITATION HOMES INC INVH	INVH	302,200	$10.2m302.2k shares
FEDEX CORP FDX	FDX	52,400	$7.8m52.4k shares
SELECT SECTOR SPDR TR XLI	XLI	72,900	$6.0m72.9k shares