ADAMS DIVERSIFIED EQUITY FUND, INC.

BALTIMORE, MD · CIK 2230 · 13F filing filed 2023-10-25

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)

$2.3bn reported value -2.7% vs Q2 2023

85positions

34.2%in top 10

10 new 18 added 8 reduced 17 sold out vs Q2 2023

Holdings, Q3 2023

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	552,300	$174.4m7.45%	7.45%	Added +34.6k	+34,600 6.7%
2	APPLE INC COM AAPL	AAPL	900,400	$154.2m6.59%	6.59%	Reduced -54.1k	-54,100 -5.7%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	729,300	$95.4m4.08%	4.08%	Unchanged
4	NVIDIA CORPORATION COM NVDA	NVDA	166,400	$72.4m3.09%	3.09%	Unchanged
5	AMAZON COM INC COM AMZN	AMZN	556,400	$70.7m3.02%	3.02%	Added +18.3k	+18,300 3.4%
6	ADAM NAT RES FD INC COM PEO	PEO	2,186,774	$50.6m2.16%	2.16%	Unchanged
7	JPMORGAN CHASE & CO COM JPM	JPM	329,763	$47.8m2.04%	2.04%	Added +16.7k	+16,700 5.3%
8	VISA INC COM CL A V	V	205,361	$47.2m2.02%	2.02%	Added +10.0k	+10,000 5.1%
9	UNITEDHEALTH GROUP INC COM UNH	UNH	90,600	$45.7m1.95%	1.95%	Unchanged
10	META PLATFORMS INC CL A META	META	141,500	$42.5m1.82%	1.82%	Unchanged
11	PROCTER AND GAMBLE CO COM PG	PG	261,449	$38.1m1.63%	1.63%	Unchanged
12	MASTERCARD INCORPORATED CL A MA	MA	91,862	$36.4m1.55%	1.55%	Added +5.7k	+5,700 6.6%
13	TESLA INC COM TSLA	TSLA	140,500	$35.2m1.50%	1.50%	Added +9.0k	+9,000 6.8%
14	MERCK & CO INC COM MRK	MRK	332,700	$34.3m1.46%	1.46%	Added +109.4k	+109,400 49.0%
15	ELI LILLY & CO COM LLY	LLY	63,568	$34.1m1.46%	1.46%	Reduced -13.2k	-13,200 -17.2%
16	WALMART INC COM WMT	WMT	203,581	$32.6m1.39%	1.39%	Unchanged
17	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	101,119	$31.1m1.33%	1.33%	Unchanged
18	LAM RESEARCH CORP COM COM		48,900	$30.6m1.31%	1.31%	Unchanged
19	BOOKING HOLDINGS INC COM BKNG	BKNG	9,800	$30.2m1.29%	1.29%	Reduced -700	-700 -6.7%
20	CENCORA INC COM COR	COR	166,300	$29.9m1.28%	1.28%	Added +34.7k	+34,700 26.4%
21	S&P GLOBAL INC COM SPGI	SPGI	78,700	$28.8m1.23%	1.23%	New
22	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	223,200	$28.7m1.23%	1.23%	Added +57.7k	+57,700 34.9%
23	COMCAST CORP NEW CL A CMCSA	CMCSA	646,500	$28.7m1.23%	1.23%	Unchanged
24	MCDONALDS CORP COM MCD	MCD	104,900	$27.6m1.18%	1.18%	New
25	SALESFORCE INC COM CRM	CRM	135,700	$27.5m1.18%	1.18%	New
26	CISCO SYS INC COM CSCO	CSCO	502,500	$27.0m1.15%	1.15%	Unchanged
27	REGENERON PHARMACEUTICALS COM REGN	REGN	32,300	$26.6m1.14%	1.14%	Added +12.3k	+12,300 61.5%
28	ADVANCED MICRO DEVICES INC COM AMD	AMD	257,400	$26.5m1.13%	1.13%	Added +151.1k	+151,100 142.1%
29	MORGAN STANLEY COM NEW MS	MS	319,869	$26.1m1.12%	1.12%	Added +58.0k	+58,000 22.1%
30	AMERICAN INTL GROUP INC COM NEW AIG	AIG	421,600	$25.5m1.09%	1.09%	New
31	CHUBB LIMITED COM CB	CB	122,100	$25.4m1.09%	1.09%	Added +37.3k	+37,300 44.0%
32	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	72,543	$25.4m1.09%	1.09%	Unchanged
33	NETFLIX INC COM NFLX	NFLX	65,722	$24.8m1.06%	1.06%	Unchanged
34	INTUIT COM INTU	INTU	47,600	$24.3m1.04%	1.04%	Unchanged
35	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	47,900	$24.2m1.04%	1.04%	Reduced -9.3k	-9,300 -16.3%
36	LOCKHEED MARTIN CORP COM LMT	LMT	59,211	$24.2m1.04%	1.04%	Unchanged
37	CARRIER GLOBAL CORPORATION COM CARR	CARR	436,020	$24.1m1.03%	1.03%	Unchanged
38	BOEING CO COM BA	BA	125,177	$24.0m1.03%	1.03%	Unchanged
39	WELLS FARGO CO NEW COM WFC	WFC	569,800	$23.3m1.00%	1.00%	Reduced -179.0k	-179,000 -23.9%
40	TJX COS INC NEW COM TJX	TJX	260,360	$23.1m0.99%	0.99%	Unchanged
41	SYNOPSYS INC COM SNPS	SNPS	50,100	$23.0m0.98%	0.98%	New
42	LINDE PLC SHS LIN	LIN	61,100	$22.8m0.97%	0.97%	Added +10.5k	+10,500 20.8%
43	BECTON DICKINSON & CO COM BDX	BDX	86,300	$22.3m0.95%	0.95%	Added +22.4k	+22,400 35.0%
44	QUANTA SVCS INC COM PWR	PWR	119,000	$22.3m0.95%	0.95%	Unchanged
45	ARISTA NETWORKS INC COM COM		119,691	$22.0m0.94%	0.94%	Reduced -20.3k	-20,300 -14.5%
46	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	24,000	$21.8m0.93%	0.93%	Unchanged
47	REPUBLIC SVCS INC COM RSG	RSG	148,200	$21.1m0.90%	0.90%	New
48	PHILIP MORRIS INTL INC COM PM	PM	227,435	$21.1m0.90%	0.90%	Unchanged
49	UNION PAC CORP COM UNP	UNP	103,300	$21.0m0.90%	0.90%	Added +10.7k	+10,700 11.6%
50	TRANSDIGM GROUP INC COM TDG	TDG	23,900	$20.2m0.86%	0.86%	Reduced -2.8k	-2,800 -10.5%
51	MICRON TECHNOLOGY INC COM MU	MU	289,400	$19.7m0.84%	0.84%	Unchanged
52	PROLOGIS INC. COM PLD	PLD	174,800	$19.6m0.84%	0.84%	Unchanged
53	UBER TECHNOLOGIES INC COM UBER	UBER	405,500	$18.6m0.80%	0.80%	Unchanged
54	DEXCOM INC COM DXCM	DXCM	194,957	$18.2m0.78%	0.78%	Unchanged
55	MARATHON PETE CORP COM MPC	MPC	117,037	$17.7m0.76%	0.76%	Unchanged
56	DIAMONDBACK ENERGY INC COM FANG	FANG	114,200	$17.7m0.76%	0.76%	Unchanged
57	HOME DEPOT INC COM HD	HD	58,000	$17.5m0.75%	0.75%	Unchanged
58	EXXON MOBIL CORP COM XOM	XOM	148,174	$17.4m0.74%	0.74%	Unchanged
59	INGERSOLL RAND INC COM IR	IR	267,300	$17.0m0.73%	0.73%	Unchanged
60	JOHNSON & JOHNSON COM JNJ	JNJ	101,200	$15.8m0.67%	0.67%	Unchanged
61	VERIZON COMMUNICATIONS INC COM VZ	VZ	462,800	$15.0m0.64%	0.64%	Unchanged
62	IDEXX LABS INC COM IDXX	IDXX	34,300	$15.0m0.64%	0.64%	Unchanged
63	DIGITAL RLTY TR INC COM DLR	DLR	123,000	$14.9m0.64%	0.64%	Unchanged
64	PIONEER NAT RES CO COM PXD	PXD	63,600	$14.6m0.62%	0.62%	Unchanged
65	PPG INDS INC COM PPG	PPG	106,500	$13.8m0.59%	0.59%	Added +27.7k	+27,700 35.1%
66	SKECHERS U S A INC CL A SKX	SKX	280,900	$13.8m0.59%	0.59%	New
67	DTE ENERGY CO COM DTE	DTE	137,400	$13.6m0.58%	0.58%	New
68	PEPSICO INC COM PEP	PEP	78,800	$13.4m0.57%	0.57%	Unchanged
69	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	107,783	$13.3m0.57%	0.57%	Unchanged
70	ALTRIA GROUP INC COM MO	MO	316,400	$13.3m0.57%	0.57%	Unchanged
71	MONSTER BEVERAGE CORP NEW COM MNST	MNST	242,668	$12.8m0.55%	0.55%	Unchanged
72	CENTERPOINT ENERGY INC COM CNP	CNP	460,600	$12.4m0.53%	0.53%	Unchanged
73	ALIGN TECHNOLOGY INC COM ALGN	ALGN	39,000	$11.9m0.51%	0.51%	New
74	ORACLE CORP COM ORCL	ORCL	109,400	$11.6m0.50%	0.50%	Unchanged
75	PUBLIC STORAGE COM PSA	PSA	43,300	$11.4m0.49%	0.49%	Unchanged
76	DUPONT DE NEMOURS INC COM DWDP	DWDP	151,686	$11.3m0.48%	0.48%	Unchanged
77	COLGATE PALMOLIVE CO COM CL	CL	158,500	$11.3m0.48%	0.48%	Unchanged
78	GENERAC HLDGS INC COM GNRC	GNRC	92,700	$10.1m0.43%	0.43%	Added +64.6k	+64,600 229.9%
79	BANK AMERICA CORP COM BAC	BAC	367,768	$10.1m0.43%	0.43%	Unchanged
80	TECK RESOURCES LTD CL B TECK	TECK	229,400	$9.9m0.42%	0.42%	Unchanged
81	COCA COLA CO COM KO	KO	165,700	$9.3m0.40%	0.40%	Unchanged
82	AES CORP COM AES	AES	582,500	$8.9m0.38%	0.38%	Unchanged
83	PAYCOM SOFTWARE INC COM PAYC	PAYC	33,600	$8.7m0.37%	0.37%	New
84	VENTAS INC COM VTR	VTR	206,000	$8.7m0.37%	0.37%	Unchanged
85	QUALCOMM INC COM QCOM	QCOM	37,600	$4.2m0.18%	0.18%	Reduced -115.0k	-115,000 -75.4%

Sold out since Q2 2023

Security	Ticker	Shares held before	Value then
ABBOTT LABS ABT	ABT	265,200	$28.9m265.2k shares
WILLIS TOWERS WATSON PLC LTD WTW	WTW	96,700	$22.8m96.7k shares
MANHATTAN ASSOCIATES INC MANH	MANH	111,700	$22.3m111.7k shares
TRACTOR SUPPLY CO TSCO	TSCO	92,391	$20.4m92.4k shares
SCHWAB CHARLES CORP SCHW	SCHW	357,500	$20.3m357.5k shares
ALLEGION PLC ALLE	ALLE	150,000	$18.0m150.0k shares
ANSYS INC ANSS	ANSS	52,100	$17.2m52.1k shares
SELECT SECTOR SPDR TR XLI	XLI	150,500	$16.2m150.5k shares
PRICE T ROWE GROUP INC TROW	TROW	143,700	$16.1m143.7k shares
YUM BRANDS INC YUM	YUM	113,200	$15.7m113.2k shares
PPL CORP PPL	PPL	576,500	$15.3m576.5k shares
SELECT SECTOR SPDR TR XLK	XLK	85,400	$14.8m85.4k shares
CVS HEALTH CORP CVS	CVS	213,574	$14.8m213.6k shares
LAS VEGAS SANDS CORP LVS	LVS	229,800	$13.3m229.8k shares
AUTOMATIC DATA PROCESSING IN ADP	ADP	45,500	$10.0m45.5k shares
MARKETAXESS HLDGS INC MKTX	MKTX	31,981	$8.4m32.0k shares
AIR PRODS & CHEMS INC APD	APD	26,800	$8.0m26.8k shares