ADAMS DIVERSIFIED EQUITY FUND, INC.

BALTIMORE, MD · CIK 2230 · 13F filing filed 2024-02-12

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)

$2.5bn reported value +8.4% vs Q3 2023

86positions

35.1%in top 10

10 new 6 added 30 reduced 9 sold out vs Q3 2023

Holdings, Q4 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	531,800	$200.0m7.89%	7.89%	Reduced -20.5k	-20,500 -3.7%
2	APPLE INC COM AAPL	AAPL	874,100	$168.3m6.64%	6.64%	Reduced -26.3k	-26,300 -2.9%
3	AMAZON COM INC COM AMZN	AMZN	684,600	$104.0m4.10%	4.10%	Added +128.2k	+128,200 23.0%
4	ALPHABET INC CAP STK CL A GOOGL	GOOGL	652,600	$91.2m3.60%	3.60%	Reduced -76.7k	-76,700 -10.5%
5	NVIDIA CORPORATION COM NVDA	NVDA	161,100	$79.8m3.15%	3.15%	Reduced -5.3k	-5,300 -3.2%
6	JPMORGAN CHASE & CO COM JPM	JPM	304,363	$51.8m2.04%	2.04%	Reduced -25.4k	-25,400 -7.7%
7	VISA INC COM CL A V	V	195,161	$50.8m2.00%	2.00%	Reduced -10.2k	-10,200 -5.0%
8	META PLATFORMS INC CL A META	META	141,500	$50.1m1.98%	1.98%	Unchanged
9	UNITEDHEALTH GROUP INC COM UNH	UNH	90,600	$47.7m1.88%	1.88%	Unchanged
10	ADAM NAT RES FD INC COM PEO	PEO	2,186,774	$45.1m1.78%	1.78%	Unchanged
11	PROCTER AND GAMBLE CO COM PG	PG	261,449	$38.3m1.51%	1.51%	Unchanged
12	ADVANCED MICRO DEVICES INC COM AMD	AMD	257,400	$37.9m1.50%	1.50%	Unchanged
13	BANK AMERICA CORP COM BAC	BAC	1,105,368	$37.2m1.47%	1.47%	Added +737.6k	+737,600 200.6%
14	ELI LILLY & CO COM LLY	LLY	63,568	$37.1m1.46%	1.46%	Unchanged
15	MASTERCARD INCORPORATED CL A MA	MA	85,762	$36.6m1.44%	1.44%	Reduced -6.1k	-6,100 -6.6%
16	MERCK & CO INC COM MRK	MRK	332,700	$36.3m1.43%	1.43%	Unchanged
17	SALESFORCE INC COM CRM	CRM	135,700	$35.7m1.41%	1.41%	Unchanged
18	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	101,119	$35.5m1.40%	1.40%	Unchanged
19	S&P GLOBAL INC COM SPGI	SPGI	78,700	$34.7m1.37%	1.37%	Unchanged
20	LAM RESEARCH CORP COM COM		43,700	$34.2m1.35%	1.35%	Reduced -5.2k	-5,200 -10.6%
21	TESLA INC COM TSLA	TSLA	134,700	$33.5m1.32%	1.32%	Reduced -5.8k	-5,800 -4.1%
22	BOEING CO COM BA	BA	125,177	$32.6m1.29%	1.29%	Unchanged
23	MORGAN STANLEY COM NEW MS	MS	347,069	$32.4m1.28%	1.28%	Added +27.2k	+27,200 8.5%
24	UNION PAC CORP COM UNP	UNP	131,100	$32.2m1.27%	1.27%	Added +27.8k	+27,800 26.9%
25	WALMART INC COM WMT	WMT	203,581	$32.1m1.27%	1.27%	Unchanged
26	MCDONALDS CORP COM MCD	MCD	104,900	$31.1m1.23%	1.23%	Unchanged
27	INTUIT COM INTU	INTU	47,600	$29.8m1.17%	1.17%	Unchanged
28	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	82,643	$29.5m1.16%	1.16%	Added +10.1k	+10,100 13.9%
29	CENCORA INC COM COR	COR	140,500	$28.9m1.14%	1.14%	Reduced -25.8k	-25,800 -15.5%
30	AMERICAN INTL GROUP INC COM NEW AIG	AIG	421,600	$28.6m1.13%	1.13%	Unchanged
31	REGENERON PHARMACEUTICALS COM REGN	REGN	32,300	$28.4m1.12%	1.12%	Unchanged
32	CHUBB LIMITED COM CB	CB	122,100	$27.6m1.09%	1.09%	Unchanged
33	TRANE TECHNOLOGIES PLC SHS TT	TT	112,800	$27.5m1.09%	1.09%	New
34	ZOETIS INC CL A ZTS	ZTS	135,900	$26.8m1.06%	1.06%	New
35	SYNOPSYS INC COM SNPS	SNPS	50,100	$25.8m1.02%	1.02%	Unchanged
36	COMCAST CORP NEW CL A CMCSA	CMCSA	587,700	$25.8m1.02%	1.02%	Reduced -58.8k	-58,800 -9.1%
37	QUANTA SVCS INC COM PWR	PWR	119,000	$25.7m1.01%	1.01%	Unchanged
38	NETFLIX INC COM NFLX	NFLX	52,422	$25.5m1.01%	1.01%	Reduced -13.3k	-13,300 -20.2%
39	BOOKING HOLDINGS INC COM BKNG	BKNG	7,000	$24.8m0.98%	0.98%	Reduced -2.8k	-2,800 -28.6%
40	MICRON TECHNOLOGY INC COM MU	MU	289,400	$24.7m0.97%	0.97%	Unchanged
41	REPUBLIC SVCS INC COM RSG	RSG	148,200	$24.4m0.96%	0.96%	Unchanged
42	DEXCOM INC COM DXCM	DXCM	194,957	$24.2m0.95%	0.95%	Unchanged
43	TRANSDIGM GROUP INC COM TDG	TDG	23,900	$24.2m0.95%	0.95%	Unchanged
44	LINDE PLC SHS LIN	LIN	58,100	$23.9m0.94%	0.94%	Reduced -3.0k	-3,000 -4.9%
45	PROLOGIS INC. COM PLD	PLD	174,800	$23.3m0.92%	0.92%	Unchanged
46	UBER TECHNOLOGIES INC COM UBER	UBER	357,200	$22.0m0.87%	0.87%	Reduced -48.3k	-48,300 -11.9%
47	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	22,800	$21.7m0.85%	0.85%	Reduced -1.2k	-1,200 -5.0%
48	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	40,700	$21.6m0.85%	0.85%	Reduced -7.2k	-7,200 -15.0%
49	PHILIP MORRIS INTL INC COM PM	PM	227,435	$21.4m0.84%	0.84%	Unchanged
50	BECTON DICKINSON & CO COM BDX	BDX	86,300	$21.0m0.83%	0.83%	Unchanged
51	LOCKHEED MARTIN CORP COM LMT	LMT	46,311	$21.0m0.83%	0.83%	Reduced -12.9k	-12,900 -21.8%
52	INGERSOLL RAND INC COM IR	IR	267,300	$20.7m0.82%	0.82%	Unchanged
53	ELEVANCE HEALTH INC COM ELV	ELV	39,700	$18.7m0.74%	0.74%	New
54	CISCO SYS INC COM CSCO	CSCO	359,400	$18.2m0.72%	0.72%	Reduced -143.1k	-143,100 -28.5%
55	SKECHERS U S A INC CL A SKX	SKX	280,900	$17.5m0.69%	0.69%	Unchanged
56	VERIZON COMMUNICATIONS INC COM VZ	VZ	462,800	$17.4m0.69%	0.69%	Unchanged
57	ARISTA NETWORKS INC COM COM		70,391	$16.6m0.65%	0.65%	Reduced -49.3k	-49,300 -41.2%
58	DIGITAL RLTY TR INC COM DLR	DLR	123,000	$16.6m0.65%	0.65%	Unchanged
59	JOHNSON & JOHNSON COM JNJ	JNJ	101,200	$15.9m0.63%	0.63%	Unchanged
60	ULTA BEAUTY INC COM ULTA	ULTA	31,900	$15.6m0.62%	0.62%	New
61	COLGATE PALMOLIVE CO COM CL	CL	190,800	$15.2m0.60%	0.60%	Added +32.3k	+32,300 20.4%
62	DTE ENERGY CO COM DTE	DTE	137,400	$15.1m0.60%	0.60%	Unchanged
63	EXXON MOBIL CORP COM XOM	XOM	148,174	$14.8m0.58%	0.58%	Unchanged
64	MARATHON PETE CORP COM MPC	MPC	99,837	$14.8m0.58%	0.58%	Reduced -17.2k	-17,200 -14.7%
65	PPG INDS INC COM PPG	PPG	97,400	$14.6m0.57%	0.57%	Reduced -9.1k	-9,100 -8.5%
66	IDEXX LABS INC COM IDXX	IDXX	26,100	$14.5m0.57%	0.57%	Reduced -8.2k	-8,200 -23.9%
67	HOME DEPOT INC COM HD	HD	41,500	$14.4m0.57%	0.57%	Reduced -16.5k	-16,500 -28.4%
68	DIAMONDBACK ENERGY INC COM FANG	FANG	90,600	$14.1m0.55%	0.55%	Reduced -23.6k	-23,600 -20.7%
69	MONSTER BEVERAGE CORP NEW COM MNST	MNST	242,668	$14.0m0.55%	0.55%	Unchanged
70	PUBLIC STORAGE COM PSA	PSA	43,300	$13.2m0.52%	0.52%	Unchanged
71	CENTERPOINT ENERGY INC COM CNP	CNP	460,600	$13.2m0.52%	0.52%	Unchanged
72	ALTRIA GROUP INC COM MO	MO	316,400	$12.8m0.50%	0.50%	Unchanged
73	PIONEER NAT RES CO COM PXD	PXD	53,300	$12.0m0.47%	0.47%	Reduced -10.3k	-10,300 -16.2%
74	GENERAC HLDGS INC COM GNRC	GNRC	92,700	$12.0m0.47%	0.47%	Unchanged
75	NEXTERA ENERGY INC COM NEE	NEE	192,900	$11.7m0.46%	0.46%	New
76	ATMOS ENERGY CORP COM ATO	ATO	97,300	$11.3m0.44%	0.44%	New
77	CBRE GROUP INC CL A CBRE	CBRE	118,700	$11.0m0.44%	0.44%	New
78	DUPONT DE NEMOURS INC COM DWDP	DWDP	133,986	$10.3m0.41%	0.41%	Reduced -17.7k	-17,700 -11.7%
79	ELECTRONIC ARTS INC COM EA	EA	73,700	$10.1m0.40%	0.40%	New
80	ADOBE INC COM ADBE	ADBE	16,600	$9.9m0.39%	0.39%	New
81	TECK RESOURCES LTD CL B TECK	TECK	229,400	$9.7m0.38%	0.38%	Unchanged
82	COCA COLA CO COM KO	KO	144,000	$8.5m0.33%	0.33%	Reduced -21.7k	-21,700 -13.1%
83	PEPSICO INC COM PEP	PEP	47,800	$8.1m0.32%	0.32%	Reduced -31.0k	-31,000 -39.3%
84	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	41,900	$8.1m0.32%	0.32%	New
85	QUALCOMM INC COM QCOM	QCOM	37,600	$5.4m0.21%	0.21%	Unchanged
86	ORACLE CORP COM ORCL	ORCL	48,800	$5.1m0.20%	0.20%	Reduced -60.6k	-60,600 -55.4%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
SELECT SECTOR SPDR TR XLV	XLV	223,200	$28.7m223.2k shares
CARRIER GLOBAL CORPORATION CARR	CARR	436,020	$24.1m436.0k shares
WELLS FARGO CO NEW WFC	WFC	569,800	$23.3m569.8k shares
TJX COS INC NEW TJX	TJX	260,360	$23.1m260.4k shares
AMERICAN WTR WKS CO INC NEW AWK	AWK	107,783	$13.3m107.8k shares
ALIGN TECHNOLOGY INC ALGN	ALGN	39,000	$11.9m39.0k shares
AES CORP AES	AES	582,500	$8.9m582.5k shares
PAYCOM SOFTWARE INC PAYC	PAYC	33,600	$8.7m33.6k shares
VENTAS INC VTR	VTR	206,000	$8.7m206.0k shares