ADAMS DIVERSIFIED EQUITY FUND, INC.

BALTIMORE, MD · CIK 2230 · 13F filing filed 2025-02-11

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)

$2.6bn reported value -2.9% vs Q3 2024

95positions

41.9%in top 10

15 new 17 added 38 reduced 20 sold out vs Q3 2024

Holdings, Q4 2024

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	APPLE INC COM AAPL	AAPL	852,600	$213.5m8.08%	8.08%	Reduced -51.6k	-51,600 -5.7%
2	MICROSOFT CORP COM MSFT	MSFT	446,000	$188.0m7.11%	7.11%	Reduced -23.9k	-23,900 -5.1%
3	NVIDIA CORPORATION COM NVDA	NVDA	1,366,300	$183.5m6.94%	6.94%	Reduced -58.7k	-58,700 -4.1%
4	AMAZON COM INC COM AMZN	AMZN	576,800	$126.5m4.79%	4.79%	Reduced -28.0k	-28,000 -4.6%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	553,500	$104.8m3.96%	3.96%	Reduced -25.1k	-25,100 -4.3%
6	META PLATFORMS INC CL A META	META	129,200	$75.6m2.86%	2.86%	Reduced -5.0k	-5,000 -3.7%
7	BROADCOM INC COM AVGO	AVGO	284,200	$65.9m2.49%	2.49%	Reduced -9.0k	-9,000 -3.1%
8	ADAM NAT RES FD INC COM PEO	PEO	2,340,933	$50.9m1.93%	1.93%	Added +102.3k	+102,254 4.6%
9	JPMORGAN CHASE & CO COM JPM	JPM	210,763	$50.5m1.91%	1.91%	Reduced -52.2k	-52,200 -19.9%
10	TESLA INC COM TSLA	TSLA	121,800	$49.2m1.86%	1.86%	Unchanged
11	VISA INC COM CL A V	V	139,761	$44.2m1.67%	1.67%	Unchanged
12	ELI LILLY & CO COM LLY	LLY	49,768	$38.4m1.45%	1.45%	Reduced -6.7k	-6,700 -11.9%
13	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	83,043	$37.6m1.42%	1.42%	Added +400	+400 0.5%
14	BANK AMERICA CORP COM BAC	BAC	848,268	$37.3m1.41%	1.41%	Added +97.5k	+97,500 13.0%
15	WALMART INC COM WMT	WMT	406,943	$36.8m1.39%	1.39%	Reduced -5.6k	-5,600 -1.4%
16	NETFLIX INC COM NFLX	NFLX	38,322	$34.2m1.29%	1.29%	Unchanged
17	ABBVIE INC COM ABBV	ABBV	190,800	$33.9m1.28%	1.28%	Reduced -8.2k	-8,200 -4.1%
18	BOOKING HOLDINGS INC COM BKNG	BKNG	5,900	$29.3m1.11%	1.11%	Reduced -300	-300 -4.8%
19	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	81,119	$28.5m1.08%	1.08%	Added +54.3k	+54,300 202.5%
20	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	129,700	$28.5m1.08%	1.08%	New
21	ARISTA NETWORKS INC COM SHS ANET	ANET	246,764	$27.3m1.03%	1.03%	New
22	MORGAN STANLEY COM NEW MS	MS	215,269	$27.1m1.02%	1.02%	Reduced -15.8k	-15,800 -6.8%
23	RTX CORPORATION COM RTX	RTX	231,200	$26.8m1.01%	1.01%	Added +27.3k	+27,300 13.4%
24	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	89,800	$26.3m0.99%	0.99%	New
25	PHILIP MORRIS INTL INC COM PM	PM	207,935	$25.0m0.95%	0.95%	Reduced -5.4k	-5,400 -2.5%
26	PNC FINL SVCS GROUP INC COM PNC	PNC	127,700	$24.6m0.93%	0.93%	Unchanged
27	ALLSTATE CORP COM ALL	ALL	123,700	$23.8m0.90%	0.90%	Added +19.2k	+19,200 18.4%
28	S&P GLOBAL INC COM SPGI	SPGI	45,800	$22.8m0.86%	0.86%	Added +11.1k	+11,100 32.0%
29	TRANE TECHNOLOGIES PLC SHS TT	TT	61,200	$22.6m0.86%	0.86%	Unchanged
30	LINDE PLC SHS LIN	LIN	53,700	$22.5m0.85%	0.85%	Reduced -1.4k	-1,400 -2.5%
31	MCDONALDS CORP COM MCD	MCD	77,500	$22.5m0.85%	0.85%	Reduced -4.6k	-4,600 -5.6%
32	PARKER-HANNIFIN CORP COM PH	PH	35,300	$22.5m0.85%	0.85%	Unchanged
33	CARRIER GLOBAL CORPORATION COM CARR	CARR	325,200	$22.2m0.84%	0.84%	Added +150.7k	+150,700 86.4%
34	CISCO SYS INC COM CSCO	CSCO	374,800	$22.2m0.84%	0.84%	Added +142.0k	+142,000 61.0%
35	SELECT SECTOR SPDR TR INDL XLI	XLI	166,000	$21.9m0.83%	0.83%	New
36	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	40,300	$21.0m0.79%	0.79%	Reduced -7.8k	-7,800 -16.2%
37	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	17,400	$20.6m0.78%	0.78%	Reduced -1.1k	-1,100 -6.0%
38	PAYPAL HLDGS INC COM PYPL	PYPL	240,900	$20.6m0.78%	0.78%	Added +36.8k	+36,800 18.0%
39	LAM RESEARCH CORP COM NEW LRCX	LRCX	283,900	$20.5m0.78%	0.78%	New
40	THE CIGNA GROUP COM CI	CI	73,900	$20.4m0.77%	0.77%	Reduced -4.7k	-4,700 -6.0%
41	GOLDMAN SACHS GROUP INC COM GS	GS	35,200	$20.2m0.76%	0.76%	New
42	HUBBELL INC COM HUBB	HUBB	47,400	$19.9m0.75%	0.75%	Unchanged
43	AMERICAN INTL GROUP INC COM NEW AIG	AIG	264,600	$19.3m0.73%	0.73%	Unchanged
44	SALESFORCE INC COM CRM	CRM	57,400	$19.2m0.73%	0.73%	Unchanged
45	ZOETIS INC CL A ZTS	ZTS	117,700	$19.2m0.73%	0.73%	Added +38.3k	+38,300 48.2%
46	BOSTON SCIENTIFIC CORP COM BSX	BSX	213,700	$19.1m0.72%	0.72%	Unchanged
47	NEXTERA ENERGY INC COM NEE	NEE	265,300	$19.0m0.72%	0.72%	Reduced -49.5k	-49,500 -15.7%
48	UBER TECHNOLOGIES INC COM UBER	UBER	309,300	$18.7m0.71%	0.71%	Unchanged
49	T-MOBILE US INC COM TMUS	TMUS	84,500	$18.7m0.71%	0.71%	Unchanged
50	CENCORA INC COM COR	COR	81,000	$18.2m0.69%	0.69%	Added +11.8k	+11,800 17.1%
51	L3HARRIS TECHNOLOGIES INC COM LHX	LHX	83,000	$17.5m0.66%	0.66%	New
52	UNION PAC CORP COM UNP	UNP	74,800	$17.1m0.65%	0.65%	Unchanged
53	COLGATE PALMOLIVE CO COM CL	CL	186,700	$17.0m0.64%	0.64%	Reduced -8.3k	-8,300 -4.3%
54	ANALOG DEVICES INC COM ADI	ADI	79,000	$16.8m0.64%	0.64%	Reduced -19.1k	-19,100 -19.5%
55	UNITEDHEALTH GROUP INC COM UNH	UNH	32,400	$16.4m0.62%	0.62%	Unchanged
56	AUTODESK INC COM ADSK	ADSK	55,100	$16.3m0.62%	0.62%	New
57	JOHNSON & JOHNSON COM JNJ	JNJ	111,700	$16.2m0.61%	0.61%	Added +19.6k	+19,600 21.3%
58	REGENERON PHARMACEUTICALS COM REGN	REGN	21,700	$15.5m0.58%	0.58%	Unchanged
59	MEDTRONIC PLC SHS MDT	MDT	192,900	$15.4m0.58%	0.58%	New
60	SKECHERS U S A INC CL A SKX	SKX	227,300	$15.3m0.58%	0.58%	Reduced -23.6k	-23,600 -9.4%
61	WEC ENERGY GROUP INC COM WEC	WEC	161,600	$15.2m0.57%	0.57%	New
62	VERIZON COMMUNICATIONS INC COM VZ	VZ	378,300	$15.1m0.57%	0.57%	Reduced -33.1k	-33,100 -8.1%
63	SYSCO CORP COM SYY	SYY	196,700	$15.0m0.57%	0.57%	Reduced -25.4k	-25,400 -11.4%
64	HCA HEALTHCARE INC COM HCA	HCA	49,700	$14.9m0.56%	0.56%	Added +19.2k	+19,200 63.0%
65	HOME DEPOT INC COM HD	HD	37,900	$14.7m0.56%	0.56%	Unchanged
66	MASTERCARD INCORPORATED CL A MA	MA	27,562	$14.5m0.55%	0.55%	Reduced -3.0k	-3,000 -9.8%
67	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	35,100	$14.1m0.53%	0.53%	Unchanged
68	POST HLDGS INC COM POST	POST	120,900	$13.8m0.52%	0.52%	Reduced -4.2k	-4,200 -3.4%
69	BAKER HUGHES COMPANY CL A BKR	BKR	337,200	$13.8m0.52%	0.52%	Added +107.3k	+107,300 46.7%
70	DISCOVER FINL SVCS COM DFS	DFS	77,900	$13.5m0.51%	0.51%	New
71	PUBLIC STORAGE COM PSA	PSA	45,000	$13.5m0.51%	0.51%	Reduced -3.4k	-3,400 -7.0%
72	CBRE GROUP INC CL A CBRE	CBRE	98,200	$12.9m0.49%	0.49%	Reduced -6.5k	-6,500 -6.2%
73	MICRON TECHNOLOGY INC COM MU	MU	149,000	$12.5m0.47%	0.47%	Reduced -28.3k	-28,300 -16.0%
74	AMERICAN TOWER CORP NEW COM AMT	AMT	67,400	$12.4m0.47%	0.47%	Reduced -3.6k	-3,600 -5.1%
75	ENTERGY CORP NEW COM ETR	ETR	163,000	$12.4m0.47%	0.47%	Reduced -38.4k	-38,400 -19.1%
76	FREEPORT-MCMORAN INC CL B FCX	FCX	322,100	$12.3m0.46%	0.46%	Reduced -17.3k	-17,300 -5.1%
77	PROCTER AND GAMBLE CO COM PG	PG	70,249	$11.8m0.45%	0.45%	Unchanged
78	CHEVRON CORP NEW COM CVX	CVX	79,900	$11.6m0.44%	0.44%	Unchanged
79	DIAMONDBACK ENERGY INC COM FANG	FANG	69,200	$11.3m0.43%	0.43%	Reduced -21.4k	-21,400 -23.6%
80	TRANSDIGM GROUP INC COM TDG	TDG	8,500	$10.8m0.41%	0.41%	Reduced -8.4k	-8,400 -49.7%
81	COSTCO WHSL CORP NEW COM COST	COST	9,800	$9.0m0.34%	0.34%	Unchanged
82	COCA COLA CO COM KO	KO	144,000	$9.0m0.34%	0.34%	Unchanged
83	ORACLE CORP COM ORCL	ORCL	48,800	$8.1m0.31%	0.31%	Unchanged
84	ADOBE INC COM ADBE	ADBE	18,200	$8.1m0.31%	0.31%	Reduced -8.4k	-8,400 -31.6%
85	AVALONBAY CMNTYS INC COM AVB	AVB	36,400	$8.0m0.30%	0.30%	New
86	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	35,100	$7.9m0.30%	0.30%	New
87	TARGET CORP COM TGT	TGT	56,200	$7.6m0.29%	0.29%	Reduced -54.4k	-54,400 -49.2%
88	PEPSICO INC COM PEP	PEP	47,800	$7.3m0.28%	0.28%	Unchanged
89	CONSTELLATION ENERGY CORP COM CEG	CEG	29,500	$6.6m0.25%	0.25%	Added +6.5k	+6,500 28.3%
90	PROLOGIS INC. COM PLD	PLD	59,000	$6.2m0.24%	0.24%	Reduced -70.6k	-70,600 -54.5%
91	INTERNATIONAL FLAVORS&FRAGRA COM IFF	IFF	67,700	$5.7m0.22%	0.22%	Unchanged
92	VISTRA CORP COM VST	VST	38,600	$5.3m0.20%	0.20%	Added +11.4k	+11,400 41.9%
93	CROWN HLDGS INC COM CCK	CCK	56,200	$4.6m0.18%	0.18%	New
94	PALO ALTO NETWORKS INC COM PANW	PANW	25,200	$4.6m0.17%	0.17%	New
95	HESS CORP COM HES	HES	30,800	$4.1m0.16%	0.16%	Unchanged

Sold out since Q3 2024

Security	Ticker	Shares held before	Value then
INTUIT INTU	INTU	43,200	$26.8m43.2k shares
LAM RESEARCH CORP		322,000	$26.3m322.0k shares
SELECT SECTOR SPDR TR XLK	XLK	109,000	$24.6m109.0k shares
LEIDOS HOLDINGS INC LDOS	LDOS	146,400	$23.9m146.4k shares
ARISTA NETWORKS INC		246,764	$23.7m246.8k shares
GENERAL DYNAMICS CORP GD	GD	77,200	$23.3m77.2k shares
DANAHER CORPORATION DHR	DHR	72,900	$20.3m72.9k shares
MARSH & MCLENNAN COS INC MRSH	MRSH	89,200	$19.9m89.2k shares
REPUBLIC SVCS INC RSG	RSG	99,000	$19.9m99.0k shares
3M CO MMM	MMM	120,600	$16.5m120.6k shares
DTE ENERGY CO DTE	DTE	124,700	$16.0m124.7k shares
M & T BK CORP MTB	MTB	79,400	$14.1m79.4k shares
OMNICOM GROUP INC OMC	OMC	106,600	$11.0m106.6k shares
MSCI INC MSCI	MSCI	18,600	$10.8m18.6k shares
ULTA BEAUTY INC ULTA	ULTA	27,400	$10.7m27.4k shares
TEXAS INSTRS INC TXN	TXN	51,600	$10.7m51.6k shares
MERCK & CO INC MRK	MRK	86,400	$9.8m86.4k shares
PPG INDS INC PPG	PPG	53,500	$7.1m53.5k shares
SELECT SECTOR SPDR TR XLV	XLV	45,800	$7.1m45.8k shares
SELECT SECTOR SPDR TR XLE	XLE	59,300	$5.2m59.3k shares