Vault-13

ADAMS DIVERSIFIED EQUITY FD ADX

COM · Closed-End Fund · CUSIP 006212104

Publicly traded diversified equity fund

191 institutional holders +9 vs Q1 2025
26,034,98326.0m shares reported held*
$562.5mreported value*
24 new 75 added 45 reduced 16 sold out net sold ≈ $20.9m (-964.5k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $21.60.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 152Q4 22: 167Q1 23: 159Q2 23: 166Q3 23: 156Q4 23: 160Q1 24: 162Q2 24: 162Q3 24: 171Q4 24: 186Q1 25: 182Q2 25: 191191Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022152
Q4 2022167
Q1 2023159
Q2 2023166
Q3 2023156
Q4 2023160
Q1 2024162
Q2 2024162
Q3 2024171
Q4 2024186
Q1 2025182
Q2 2025191

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 51 bought or addedQ3 23: 75 cut or sold outQ4 23: 70 bought or addedQ4 23: 42 cut or sold outQ4 23Q1 24: 69 bought or addedQ1 24: 59 cut or sold outQ2 24: 58 bought or addedQ2 24: 63 cut or sold outQ2 24Q3 24: 67 bought or addedQ3 24: 75 cut or sold outQ4 24: 92 bought or addedQ4 24: 39 cut or sold outQ4 24Q1 25: 92 bought or addedQ1 25: 63 cut or sold outQ2 25: 99 bought or addedQ2 25: 61 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235175
Q4 20237042
Q1 20246959
Q2 20245863
Q3 20246775
Q4 20249239
Q1 20259263
Q2 20259961

Biggest buyers

ROYAL BANK OF CANADA Added +868,768+868.8k
LPL Financial LLC Added +257,203+257.2k
MORGAN STANLEY Added +237,031+237.0k
INDEPENDENT FINANCIAL GROUP, LLC New +152,206+152.2k
Westbourne Investment Advisors, Inc. New +71,500+71.5k
MEANS INVESTMENT CO., INC. New +71,425+71.4k
Bensler, LLC Added +70,344+70.3k
HighTower Advisors, LLC Added +38,728+38.7k
Hennion & Walsh Asset Management, Inc. Added +28,163+28.2k
PARK AVENUE SECURITIES LLC New +27,955+28.0k

Biggest sellers

Saba Capital Management, L.P. Reduced -1,592,803-1.6m
JONES ROAD CAPITAL MANAGEMENT, L.P. Sold out -419,000-419.0k
Shaker Financial Services, LLC Sold out -207,446-207.4k
WOLVERINE ASSET MANAGEMENT LLC Sold out -152,886-152.9k
Allspring Global Investments Holdings, LLC Reduced -110,702-110.7k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Sold out -110,530-110.5k
Thrivent Financial for Lutherans Sold out -101,313-101.3k
Global Endowment Management, LP Sold out -77,652-77.7k
Thomas J. Herzfeld Advisors, Inc. Reduced -71,083-71.1k
Quantedge Capital Pte Ltd Reduced -54,400-54.4k

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 1 buyingQ4 24: 1 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20241$25.1k1$554.7k—
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.11% of their portfolio NEW YORK, NY 3,551,1793.6m $77.1m $77.1m 0.11% Unchanged
2 Saba Capital Management, L.P. 1.70% of their portfolio NEW YORK, NY 2,870,1532.9m $62.3m $62.3m 1.70% Reduced -1.6m -1,592,803
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,571,4142.6m $55.8m $55.8m 0.00% Added +237.0k +237,031
4 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,923,6401.9m $41.8m $41.8m 0.00% Added +868.8k +868,768
5 COHEN & STEERS, INC. 0.05% of their portfolio NEW YORK, NY 1,244,6351.2m $27.0m $27.0m 0.05% Added +20.0k +20,000
6 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 1,228,1721.2m $26.7m $26.7m 0.01% Added +27.1k +27,102
7 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 3.39% of their portfolio BLUE BELL, PA 934,213934.2k $20.3m $20.3m 3.39% Reduced -2.6k -2,628
8 Bensler, LLC 2.08% of their portfolio Bellevue, WA 857,856857.9k $18.6m $18.6m 2.08% Added +70.3k +70,344
9 1607 Capital Partners, LLC 1.18% of their portfolio Richmond, VA 672,672672.7k $14.6m $14.6m 1.18% Added +19.5k +19,537
10 Potrero Capital Research LLC 4.47% of their portfolio SAN FRANCISCO, CA 442,735442.7k $9.6m $9.6m 4.47% Unchanged
11 Waterfront Wealth Inc. 2.14% of their portfolio OVERLAND PARK, KS 440,707440.7k $9.6m $9.6m 2.14% Added +26.7k +26,709
12 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 428,357428.4k $9.4m $9.4m 0.02% Added +14.8k +14,834
13 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 423,984424.0k $9.2m $9.2m 0.00% Added +257.2k +257,203
14 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 412,966413.0k $9.0m $9.0m 0.01% Reduced -110.7k -110,702
15 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 373,885373.9k $8.1m $8.1m 0.01% Added +11.3k +11,326
16 Advisors Asset Management, Inc. 0.14% of their portfolio Monument, CO 349,282349.3k $7.6m $7.6m 0.14% Added +4.3k +4,316
17 GatePass Capital, LLC 4.06% of their portfolio INDEPENDENCE, OH 282,130282.1k $6.1m $6.1m 4.06% Reduced -7.3k -7,350
18 Hennion & Walsh Asset Management, Inc. 0.23% of their portfolio Parsippany, NJ 264,995265.0k $5.8m $5.8m 0.23% Added +28.2k +28,163
19 INTREPID FAMILY OFFICE LLC 6.04% of their portfolio SARASOTA, FL 257,412257.4k $5.6m $5.6m 6.04% Unchanged
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 243,466243.5k $5.3m $5.3m 0.00% Reduced -15.2k -15,182
21 Penserra Capital Management LLC 0.07% of their portfolio ORINDA, CA 242,540242.5k $5.3m $5.3m 0.07% Added +7.2k +7,163
22 RB Capital Management, LLC 0.99% of their portfolio RENO, NV 202,109202.1k $4.4m $4.4m 0.99% Reduced -6.1k -6,129
23 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 192,759192.8k $4.2m $4.2m 0.02% Reduced -2.9k -2,879
24 FCA CORP /TX 1.21% of their portfolio HOUSTON, TX 186,460186.5k $4.0m $4.0m 1.21% Added +4.7k +4,652
25 Uncommon Cents Investing LLC 1.07% of their portfolio JANESVILLE, WI 184,951185.0k $4.0m $4.0m 1.07% Reduced -1.1k -1,081
26 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 178,281178.3k $3.9m $3.9m 0.01% Added +11.8k +11,815
27 Consolidated Portfolio Review Corp 0.46% of their portfolio WOODBURY, NY 152,212152.2k $3.3m $3.3m 0.46% Added +2.8k +2,759
28 INDEPENDENT FINANCIAL GROUP, LLC 0.09% of their portfolio SAN DIEGO, CA 152,206152.2k $3.3m $3.3m 0.09% New
29 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 149,468149.5k $3.2m $3.2m 0.01% Reduced -1.0k -1,038
30 Priebe Wealth Holdings LLC 2.81% of their portfolio MAPLE GROVE, MN 149,363149.4k $3.2m $3.2m 2.81% Reduced -31.9k -31,907
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 143,862143.9k $3.1m $3.1m 0.00% Reduced -14.0k -13,951
32 Integrated Wealth Concepts LLC 0.03% of their portfolio WALTHAM, MA 141,488141.5k $3.1m $3.1m 0.03% Reduced -1.1k -1,089
33 ROBERTS GLORE & CO INC /IL/ 0.88% of their portfolio DEERFIELD, IL 139,235139.2k $3.0m $3.0m 0.88% Added +22.9k +22,853
34 MinichMacGregor Wealth Management, LLC 0.10% of their portfolio Saratoga Springs, NY 135,923135.9k $465.7k $465.7k 0.10% Added +331 +331
35 ARQ WEALTH ADVISORS, LLC 0.88% of their portfolio SCOTTSDALE, AZ 134,567134.6k $2.6m $2.6m 0.88% Unchanged
36 GENERAL AMERICAN INVESTORS CO INC 0.19% of their portfolio NEW YORK, NY 131,124131.1k $2.8m $2.8m 0.19% Unchanged
37 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 128,425128.4k $2.8m $2.8m 0.02% Reduced -840 -840
38 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 106,697106.7k $2.4m $2.4m 0.00% Added +12.7k +12,663
39 DELTA CAPITAL MANAGEMENT LLC 1.28% of their portfolio RED BANK, NJ 105,466105.5k $2.3m $2.3m 1.28% Unchanged
40 Providence Wealth Advisors, LLC 1.47% of their portfolio FRANKFORT, IL 98,95399.0k $2.1m $2.1m 1.47% Unchanged
41 Stolper Co 0.70% of their portfolio TULSA, OK 98,83198.8k $2.1m $2.1m 0.70% Added +2.7k +2,737
42 UBS Group AG 0.00% of their portfolio ZURICH, V8 80,81880.8k $1.8m $1.8m 0.00% Added +19.1k +19,124
43 Westbourne Investment Advisors, Inc. 0.47% of their portfolio ANNAPOLIS, MD 71,50071.5k $1.6m $1.6m 0.47% New
44 MEANS INVESTMENT CO., INC. 0.15% of their portfolio BANGOR, ME 71,42571.4k $1.6m $1.6m 0.15% New
45 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 68,96569.0k $1.5m $1.5m 0.00% Reduced -6.3k -6,350
46 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 67,60067.6k $1.5m $1.5m 0.02% Added +399 +399
47 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 65,47765.5k $1.4m $1.4m 0.00% Added +252 +252
48 DIVERSIFIED TRUST CO 0.03% of their portfolio MEMPHIS, TN 64,05864.1k $1.4m $1.4m 0.03% Unchanged
49 Koshinski Asset Management, Inc. 0.10% of their portfolio DECATUR, IL 63,21563.2k $1.4m $1.4m 0.10% Added +2.9k +2,944
50 Ancora Advisors LLC 0.03% of their portfolio Cleveland, OH 62,67862.7k $1.4m $1.4m 0.03% Reduced -1.0k -1,032
51 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 62,02462.0k $1.3m $1.3m 0.00% Added +38.7k +38,728
52 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 59,02559.0k $1.3m $1.3m 0.00% Added +16.1k +16,104
53 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 54,32854.3k $1.2m $1.2m 0.01% Added +6.2k +6,198
54 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 54,24754.2k $1.2m $1.2m 0.00% Reduced -507 -507
55 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 54,10354.1k $1.2m $1.2m 0.00% Added +26.5k +26,463
56 SALEM INVESTMENT COUNSELORS INC 0.03% of their portfolio WINSTON-SALEM, NC 50,06250.1k $1.1m $1.1m 0.03% Unchanged
57 Capital Investment Advisors, LLC 0.02% of their portfolio ATLANTA, GA 49,05649.1k $1.1m $1.1m 0.02% Reduced -2.1k -2,110
58 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 48,56248.6k $1.1m $1.1m 0.00% Unchanged
59 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 48,22348.2k $1.0m $1.0m 0.01% Added +895 +895
60 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 48,16248.2k $1.0m $1.0m 0.00% Added +31 +31
61 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 48,11748.1k $1.0m $1.0m 0.00% Reduced -2.8k -2,824
62 Generation Capital Management LLC 0.81% of their portfolio PITTSFORD, NY 47,30247.3k $1.0m $1.0m 0.81% Reduced -3.0k -3,027
63 Mariner, LLC 0.00% of their portfolio Overland Park, KS 45,52145.5k $988.3k $988.3k 0.00% Added +10.8k +10,772
64 Wilmington Savings Fund Society, FSB 0.02% of their portfolio WILMINGTON, DE 45,34845.3k $984.5k $984.5k 0.02% Added +998 +998
65 CHOREO, LLC 0.01% of their portfolio ROCKFORD, IL 44,46544.5k $965.3k $965.3k 0.01% Reduced -1.2k -1,246
66 MassMutual Private Wealth & Trust, FSB 0.03% of their portfolio Windsor, CT 44,41044.4k $964.1k $964.1k 0.03% Added +979 +979
67 Midwest Trust Co 0.01% of their portfolio Overland Park, KS 44,41044.4k $964.1k $964.1k 0.01% First filing
68 Concurrent Investment Advisors, LLC 0.02% of their portfolio Tampa, FL 43,57543.6k $946.0k $946.0k 0.02% Reduced -9.1k -9,093
69 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 43,05843.1k $935.0k $935.0k 0.00% Added +881 +881
70 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 41,77241.8k $907.0k $907.0k 0.00% Reduced -2.4k -2,409
71 Capstone Financial Advisors, Inc. 0.05% of their portfolio DOWNERS GROVE, IL 41,60141.6k $903.2k $903.2k 0.05% Added +485 +485
72 TWIN FOCUS CAPITAL PARTNERS, LLC 0.12% of their portfolio Boston, MA 40,20540.2k $872.9k $872.9k 0.12% Unchanged
73 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 39,49839.5k $857.5k $857.5k 0.00% Reduced -2.8k -2,756
74 RFG - Bristol Wealth Advisors, LLC 0.25% of their portfolio TAUNTON, MA 37,72337.7k $819.0k $819.0k 0.25% Reduced -21.6k -21,596
75 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 35,67235.7k $774.4k $774.4k 0.00% Reduced -693 -693
76 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 35,34735.3k $767.4k $767.4k 0.01% Added +599 +599
77 Prostatis Group LLC 0.20% of their portfolio HANOVER, MD 32,87832.9k $713.8k $713.8k 0.20% Reduced -1.2k -1,180
78 UHLMANN PRICE SECURITIES, LLC 0.50% of their portfolio SKOKIE, IL 32,22932.2k $699.7k $699.7k 0.50% Added +605 +605
79 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 31,88731.9k $692.3k $692.3k 0.00% Added +48 +48
80 J.W. COLE ADVISORS, INC. 0.01% of their portfolio TAMPA, FL 30,16730.2k $654.9k $654.9k 0.01% Added +27 +27
81 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 30,14330.1k $654.4k $654.4k 0.00% Added +212 +212
82 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 28,39128.4k $616.4k $616.4k 0.00% Reduced -899 -899
83 Turtle Creek Wealth Advisors, LLC 0.07% of their portfolio DALLAS, TX 28,10628.1k $610.2k $610.2k 0.07% Unchanged
84 PARK AVENUE SECURITIES LLC 0.01% of their portfolio NEW YORK, NY 27,95528.0k $607.0k $607.0k 0.01% New
85 Avior Wealth Management, LLC 0.02% of their portfolio OMAHA, NE 27,68827.7k $601.1k $601.1k 0.02% Added +5.5k +5,500
86 Farmers National Bank 0.16% of their portfolio DANVILLE, KY 27,23427.2k $591.2k $591.2k 0.16% Unchanged
87 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 27,08227.1k $587.9k $587.9k 0.00% New
88 Quad-Cities Investment Group, LLC 0.26% of their portfolio DAVENPORT, IA 26,52526.5k $575.9k $575.9k 0.26% Added +585 +585
89 Joel Isaacson & Co., LLC 0.02% of their portfolio NEW YORK, NY 26,52026.5k $575.7k $575.7k 0.02% Unchanged
90 Blue Trust, Inc. 0.01% of their portfolio BRENTWOOD, TN 26,29626.3k $570.9k $570.9k 0.01% Added +580 +580
91 PREVAIL INNOVATIVE WEALTH ADVISORS, LLC 0.12% of their portfolio LEAWOOD, KS 25,38225.4k $551.0k $551.0k 0.12% New
92 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 25,26425.3k $548.5k $548.5k 0.00% Reduced -353 -353
93 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 25,19025.2k $546.9k $546.9k 0.01% Added +606 +606
94 Cannon Advisors, Inc. 0.44% of their portfolio CHARLOTTE, NC 25,16225.2k $546.7k $546.7k 0.44% Added +949 +949
95 LEE DANNER & BASS INC 0.04% of their portfolio NASHVILLE, TN 25,00025.0k $542.8k $542.8k 0.04% Unchanged
96 Atria Wealth Solutions, Inc. 0.01% of their portfolio NEW YORK, NY 24,70724.7k $537.6k $537.6k 0.01% Reduced -16.8k -16,842
97 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 22,54622.5k $489.5k $489.5k 0.01% Unchanged
98 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 22,32022.3k $484.6k $484.6k 0.00% Added +9.7k +9,726
99 StoneX Group Inc. 0.02% of their portfolio NEW YORK, NY 21,69521.7k $471.0k $471.0k 0.02% Added +4.9k +4,895
100 Mezzasalma Advisors, LLC 0.14% of their portfolio TINTON FALLS, NJ 21,53921.5k $467.6k $467.6k 0.14% Added +412 +412