ADAMS DIVERSIFIED EQUITY FUND, INC.

BALTIMORE, MD · CIK 2230 · 13F filing filed 2025-04-23

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 -5.0% vs Q4 2024

97positions

38.7%in top 10

19 new 17 added 36 reduced 17 sold out vs Q4 2024

Holdings, Q1 2025

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	843,400	$187.3m7.46%	7.46%	Reduced -9.2k	-9,200 -1.1%
2	MICROSOFT CORP COM MSFT	MSFT	440,500	$165.4m6.59%	6.59%	Reduced -5.5k	-5,500 -1.2%
3	NVIDIA CORPORATION COM NVDA	NVDA	1,328,000	$143.9m5.73%	5.73%	Reduced -38.3k	-38,300 -2.8%
4	AMAZON COM INC COM AMZN	AMZN	571,000	$108.6m4.33%	4.33%	Reduced -5.8k	-5,800 -1.0%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	547,900	$84.7m3.37%	3.37%	Reduced -5.6k	-5,600 -1.0%
6	META PLATFORMS INC CL A META	META	128,000	$73.8m2.94%	2.94%	Reduced -1.2k	-1,200 -0.9%
7	JPMORGAN CHASE & CO COM JPM	JPM	238,063	$58.4m2.33%	2.33%	Added +27.3k	+27,300 12.9%
8	ADAM NAT RES FD INC COM PEO	PEO	2,396,247	$54.7m2.18%	2.18%	Added +55.3k	+55,314 2.4%
9	VISA INC COM CL A V	V	139,761	$49.0m1.95%	1.95%	Unchanged
10	BROADCOM INC COM AVGO	AVGO	267,200	$44.7m1.78%	1.78%	Reduced -17.0k	-17,000 -6.0%
11	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	80,343	$42.8m1.70%	1.70%	Reduced -2.7k	-2,700 -3.2%
12	ABBVIE INC COM ABBV	ABBV	187,700	$39.3m1.57%	1.57%	Reduced -3.1k	-3,100 -1.6%
13	NETFLIX INC COM NFLX	NFLX	38,322	$35.7m1.42%	1.42%	Unchanged
14	BANK AMERICA CORP COM BAC	BAC	848,268	$35.4m1.41%	1.41%	Unchanged
15	ELI LILLY & CO COM LLY	LLY	41,968	$34.7m1.38%	1.38%	Reduced -7.8k	-7,800 -15.7%
16	PHILIP MORRIS INTL INC COM PM	PM	203,735	$32.3m1.29%	1.29%	Reduced -4.2k	-4,200 -2.0%
17	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	129,700	$32.3m1.28%	1.28%	Unchanged
18	WALMART INC COM WMT	WMT	360,343	$31.6m1.26%	1.26%	Reduced -46.6k	-46,600 -11.4%
19	TESLA INC COM TSLA	TSLA	121,800	$31.6m1.26%	1.26%	Unchanged
20	MASTERCARD INCORPORATED CL A MA	MA	55,162	$30.2m1.20%	1.20%	Added +27.6k	+27,600 100.1%
21	GOLDMAN SACHS GROUP INC COM GS	GS	49,800	$27.2m1.08%	1.08%	Added +14.6k	+14,600 41.5%
22	BOOKING HOLDINGS INC COM BKNG	BKNG	5,900	$27.2m1.08%	1.08%	Unchanged
23	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	88,000	$26.9m1.07%	1.07%	Reduced -1.8k	-1,800 -2.0%
24	UNITEDHEALTH GROUP INC COM UNH	UNH	50,800	$26.6m1.06%	1.06%	Added +18.4k	+18,400 56.8%
25	S&P GLOBAL INC COM SPGI	SPGI	51,000	$25.9m1.03%	1.03%	Added +5.2k	+5,200 11.3%
26	T-MOBILE US INC COM TMUS	TMUS	96,900	$25.8m1.03%	1.03%	Added +12.4k	+12,400 14.7%
27	SALESFORCE INC COM CRM	CRM	94,000	$25.2m1.00%	1.00%	Added +36.6k	+36,600 63.8%
28	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	17,400	$24.9m0.99%	0.99%	Unchanged
29	GE AEROSPACE COM NEW GE	GE	121,100	$24.2m0.97%	0.97%	New
30	CISCO SYS INC COM CSCO	CSCO	374,800	$23.1m0.92%	0.92%	Unchanged
31	CME GROUP INC COM CME	CME	87,100	$23.1m0.92%	0.92%	New
32	CHEVRON CORP NEW COM CVX	CVX	137,900	$23.1m0.92%	0.92%	Added +58.0k	+58,000 72.6%
33	PARKER-HANNIFIN CORP COM PH	PH	37,300	$22.7m0.90%	0.90%	Added +2.0k	+2,000 5.7%
34	UBER TECHNOLOGIES INC COM UBER	UBER	309,300	$22.5m0.90%	0.90%	Unchanged
35	CENCORA INC COM COR	COR	81,000	$22.5m0.90%	0.90%	Unchanged
36	BOSTON SCIENTIFIC CORP COM BSX	BSX	213,700	$21.6m0.86%	0.86%	Unchanged
37	ALLSTATE CORP COM ALL	ALL	101,600	$21.0m0.84%	0.84%	Reduced -22.1k	-22,100 -17.9%
38	LAM RESEARCH CORP COM NEW LRCX	LRCX	283,900	$20.6m0.82%	0.82%	Unchanged
39	MCDONALDS CORP COM MCD	MCD	65,500	$20.5m0.81%	0.81%	Reduced -12.0k	-12,000 -15.5%
40	DISCOVER FINL SVCS COM DFS	DFS	118,400	$20.2m0.81%	0.81%	Added +40.5k	+40,500 52.0%
41	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	40,300	$20.1m0.80%	0.80%	Unchanged
42	AMERICAN TOWER CORP NEW COM AMT	AMT	91,200	$19.8m0.79%	0.79%	Added +23.8k	+23,800 35.3%
43	DEERE & CO COM DE	DE	40,500	$19.0m0.76%	0.76%	New
44	PALO ALTO NETWORKS INC COM PANW	PANW	107,800	$18.4m0.73%	0.73%	Added +82.6k	+82,600 327.8%
45	NEXTERA ENERGY INC COM NEE	NEE	258,300	$18.3m0.73%	0.73%	Reduced -7.0k	-7,000 -2.6%
46	AMERICAN INTL GROUP INC COM NEW AIG	AIG	209,500	$18.2m0.73%	0.73%	Reduced -55.1k	-55,100 -20.8%
47	TRANE TECHNOLOGIES PLC SHS TT	TT	53,900	$18.2m0.72%	0.72%	Reduced -7.3k	-7,300 -11.9%
48	KENVUE INC COM KVUE	KVUE	752,500	$18.0m0.72%	0.72%	New
49	RTX CORPORATION COM RTX	RTX	136,200	$18.0m0.72%	0.72%	Reduced -95.0k	-95,000 -41.1%
50	WEC ENERGY GROUP INC COM WEC	WEC	161,600	$17.6m0.70%	0.70%	Unchanged
51	CARRIER GLOBAL CORPORATION COM CARR	CARR	277,200	$17.6m0.70%	0.70%	Reduced -48.0k	-48,000 -14.8%
52	FORTIVE CORP COM FTV	FTV	239,700	$17.5m0.70%	0.70%	New
53	MEDTRONIC PLC SHS MDT	MDT	192,900	$17.3m0.69%	0.69%	Unchanged
54	JOHNSON & JOHNSON COM JNJ	JNJ	102,800	$17.0m0.68%	0.68%	Reduced -8.9k	-8,900 -8.0%
55	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	35,100	$17.0m0.68%	0.68%	Unchanged
56	ARISTA NETWORKS INC COM SHS ANET	ANET	213,664	$16.6m0.66%	0.66%	Reduced -33.1k	-33,100 -13.4%
57	ANALOG DEVICES INC COM ADI	ADI	79,000	$15.9m0.63%	0.63%	Unchanged
58	SELECT SECTOR SPDR TR SBI HEALTHCARE XLV	XLV	104,600	$15.3m0.61%	0.61%	New
59	SHERWIN WILLIAMS CO COM SHW	SHW	42,300	$14.8m0.59%	0.59%	New
60	SYSCO CORP COM SYY	SYY	196,700	$14.8m0.59%	0.59%	Unchanged
61	ECOLAB INC COM ECL	ECL	57,400	$14.6m0.58%	0.58%	New
62	GRAINGER W W INC COM GWW	GWW	14,600	$14.4m0.57%	0.57%	New
63	BAKER HUGHES COMPANY CL A BKR	BKR	324,800	$14.3m0.57%	0.57%	Reduced -12.4k	-12,400 -3.7%
64	POST HLDGS INC COM POST	POST	120,900	$14.1m0.56%	0.56%	Unchanged
65	HOME DEPOT INC COM HD	HD	37,900	$13.9m0.55%	0.55%	Unchanged
66	ATLASSIAN CORPORATION CL A TEAM	TEAM	62,500	$13.3m0.53%	0.53%	New
67	THE CIGNA GROUP COM CI	CI	40,200	$13.2m0.53%	0.53%	Reduced -33.7k	-33,700 -45.6%
68	COSTCO WHSL CORP NEW COM COST	COST	13,700	$13.0m0.52%	0.52%	Added +3.9k	+3,900 39.8%
69	CBRE GROUP INC CL A CBRE	CBRE	98,200	$12.8m0.51%	0.51%	Unchanged
70	REGENERON PHARMACEUTICALS COM REGN	REGN	19,700	$12.5m0.50%	0.50%	Reduced -2.0k	-2,000 -9.2%
71	AVALONBAY CMNTYS INC COM AVB	AVB	57,600	$12.4m0.49%	0.49%	Added +21.2k	+21,200 58.2%
72	PROCTER AND GAMBLE CO COM PG	PG	70,249	$12.0m0.48%	0.48%	Unchanged
73	DOMINOS PIZZA INC COM DPZ	DPZ	25,900	$11.9m0.47%	0.47%	New
74	VICI PPTYS INC COM VICI	VICI	338,200	$11.0m0.44%	0.44%	New
75	ENTERGY CORP NEW COM ETR	ETR	128,000	$10.9m0.44%	0.44%	Reduced -35.0k	-35,000 -21.5%
76	INSULET CORP COM PODD	PODD	40,700	$10.7m0.43%	0.43%	New
77	AUTODESK INC COM ADSK	ADSK	40,700	$10.7m0.42%	0.42%	Reduced -14.4k	-14,400 -26.1%
78	KNIGHT-SWIFT TRANSN HLDGS IN CL A KNX	KNX	241,400	$10.5m0.42%	0.42%	New
79	COCA COLA CO COM KO	KO	144,000	$10.3m0.41%	0.41%	Unchanged
80	SKECHERS U S A INC CL A SKX	SKX	181,100	$10.3m0.41%	0.41%	Reduced -46.2k	-46,200 -20.3%
81	PNC FINL SVCS GROUP INC COM PNC	PNC	56,200	$9.9m0.39%	0.39%	Reduced -71.5k	-71,500 -56.0%
82	MICRON TECHNOLOGY INC COM MU	MU	112,300	$9.8m0.39%	0.39%	Reduced -36.7k	-36,700 -24.6%
83	DISNEY WALT CO COM DIS	DIS	98,100	$9.7m0.39%	0.39%	New
84	CROWN HLDGS INC COM CCK	CCK	104,700	$9.3m0.37%	0.37%	Added +48.5k	+48,500 86.3%
85	QUEST DIAGNOSTICS INC COM DGX	DGX	52,100	$8.8m0.35%	0.35%	New
86	HCA HEALTHCARE INC COM HCA	HCA	24,800	$8.6m0.34%	0.34%	Reduced -24.9k	-24,900 -50.1%
87	COLGATE PALMOLIVE CO COM CL	CL	89,200	$8.4m0.33%	0.33%	Reduced -97.5k	-97,500 -52.2%
88	HESS CORP COM HES	HES	49,100	$7.8m0.31%	0.31%	Added +18.3k	+18,300 59.4%
89	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	24,619	$7.7m0.31%	0.31%	Reduced -56.5k	-56,500 -69.7%
90	PEPSICO INC COM PEP	PEP	47,800	$7.2m0.29%	0.29%	Unchanged
91	FREEPORT-MCMORAN INC CL B FCX	FCX	187,200	$7.1m0.28%	0.28%	Reduced -134.9k	-134,900 -41.9%
92	ORACLE CORP COM ORCL	ORCL	48,800	$6.8m0.27%	0.27%	Unchanged
93	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	70,400	$5.6m0.22%	0.22%	New
94	CONSTELLATION ENERGY CORP COM CEG	CEG	24,900	$5.0m0.20%	0.20%	Reduced -4.6k	-4,600 -15.6%
95	VERTIV HOLDINGS CO COM CL A VRT	VRT	66,200	$4.8m0.19%	0.19%	New
96	VISTRA CORP COM VST	VST	28,400	$3.3m0.13%	0.13%	Reduced -10.2k	-10,200 -26.4%
97	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	39,300	$3.3m0.13%	0.13%	New

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
MORGAN STANLEY MS	MS	215,269	$27.1m215.3k shares
LINDE PLC LIN	LIN	53,700	$22.5m53.7k shares
SELECT SECTOR SPDR TR XLI	XLI	166,000	$21.9m166.0k shares
PAYPAL HLDGS INC PYPL	PYPL	240,900	$20.6m240.9k shares
HUBBELL INC HUBB	HUBB	47,400	$19.9m47.4k shares
ZOETIS INC ZTS	ZTS	117,700	$19.2m117.7k shares
L3HARRIS TECHNOLOGIES INC LHX	LHX	83,000	$17.5m83.0k shares
UNION PAC CORP UNP	UNP	74,800	$17.1m74.8k shares
VERIZON COMMUNICATIONS INC VZ	VZ	378,300	$15.1m378.3k shares
PUBLIC STORAGE PSA	PSA	45,000	$13.5m45.0k shares
DIAMONDBACK ENERGY INC FANG	FANG	69,200	$11.3m69.2k shares
TRANSDIGM GROUP INC TDG	TDG	8,500	$10.8m8.5k shares
ADOBE INC ADBE	ADBE	18,200	$8.1m18.2k shares
SELECT SECTOR SPDR TR XLY	XLY	35,100	$7.9m35.1k shares
TARGET CORP TGT	TGT	56,200	$7.6m56.2k shares
PROLOGIS INC. PLD	PLD	59,000	$6.2m59.0k shares
INTERNATIONAL FLAVORS&FRAGRA IFF	IFF	67,700	$5.7m67.7k shares