ADAMS NATURAL RESOURCES FUND, INC. — 13F Holdings & Portfolio
CIK 216851 · latest 13F-HR filed 2026-04-22
ADAMS NATURAL RESOURCES FUND, INC. manages $862.6M in 13F-reported U.S. long-equity assets across 54 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are XOM (26.25%), CVX (14.74%), COP (5.77%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 1 new position, exited 2, added to 36, and trimmed 8.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$862.6M
Long-equity book
54
Distinct positions
2026-03-31
Filed 2026-04-22
+1 / −2 / ↑36 / ↓8
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- Exxon Mobil Corporation$67.8M +42.7%
- Chevron Corporation$32.1M +33.8%
- SLB Ltd.$15.5M +119.9%
- ConocoPhillips$14.5M +41.0%
- Targa Resources Corp.$10.4M +81.1%
Top Trims
- Kinder Morgan, Inc.-$4.4M -23.3%
- Baker Hughes Company-$3.4M -19.7%
- Ecolab Inc.-$2.8M -25.0%
- CRH public limited company-$1.3M -15.8%
- Eos Energy Enterprises, Inc.-$406.9K -56.7%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Exxon Mobil Corporation | XOM | 30231G102 | $226.4M | 26.25% | 1,334,555 | SH |
| 2 | Chevron Corporation | CVX | 166764100 | $127.2M | 14.74% | 614,724 | SH |
| 3 | ConocoPhillips | COP | 20825C104 | $49.8M | 5.77% | 377,203 | SH |
| 4 | Williams Companies, Inc. | WMB | 969457100 | $33.3M | 3.86% | 457,450 | SH |
| 5 | SLB Ltd. | SLB | 806857108 | $28.4M | 3.29% | 552,633 | SH |
| 6 | Phillips 66 | PSX | 718546104 | $28.3M | 3.28% | 155,475 | SH |
| 7 | Linde plc | LIN | G54950103 | $26.6M | 3.09% | 53,700 | SH |
| 8 | Valero Energy Corporation | VLO | 91913Y100 | $23.5M | 2.72% | 95,000 | SH |
| 9 | Targa Resources Corp. | TRGP | 87612G101 | $23.2M | 2.69% | 92,500 | SH |
| 10 | Marathon Petroleum Corporation | MPC | 56585A102 | $20.8M | 2.41% | 85,012 | SH |
| 11 | EOG Resources, Inc. | EOG | 26875P101 | $20.4M | 2.37% | 141,367 | SH |
| 12 | Devon Energy Corporation | DVN | 25179M103 | $18.7M | 2.17% | 372,400 | SH |
| 13 | Diamondback Energy, Inc. | FANG | 25278X109 | $14.7M | 1.70% | 74,200 | SH |
| 14 | Kinder Morgan, Inc. | KMI | 49456B101 | $14.5M | 1.68% | 433,292 | SH |
| 15 | EQT Corporation | EQT | 26884L109 | $14.2M | 1.65% | 223,900 | SH |
| 16 | Newmont Corporation | NEM | 651639106 | $13.9M | 1.61% | 128,400 | SH |
| 17 | Baker Hughes Company | BKR | 05722G100 | $13.8M | 1.60% | 225,900 | SH |
| 18 | Freeport-McMoRan, Inc. | FCX | 35671D857 | $13.7M | 1.59% | 233,200 | SH |
| 19 | Halliburton Company | HAL | 406216101 | $13.4M | 1.56% | 344,853 | SH |
| 20 | ONEOK, Inc. | OKE | 682680103 | $12.8M | 1.49% | 141,800 | SH |
| 21 | Occidental Petroleum Corporation | OXY | 674599105 | $10.8M | 1.25% | 165,951 | SH |
| 22 | Nucor Corporation | NUE | 670346105 | $8.8M | 1.02% | 52,000 | SH |
| 23 | Ecolab Inc. | ECL | 278865100 | $8.4M | 0.97% | 31,400 | SH |
| 24 | Sherwin-Williams Company | SHW | 824348106 | $7.7M | 0.90% | 24,100 | SH |
| 25 | Vulcan Materials Company | VMC | 929160109 | $7.5M | 0.87% | 27,700 | SH |
| 26 | CRH public limited company | CRH | G25508105 | $6.7M | 0.78% | 64,000 | SH |
| 27 | Texas Pacific Land Corporation | TPL | 88262P102 | $6.3M | 0.73% | 13,350 | SH |
| 28 | CF Industries Holdings, Inc. | CF | 125269100 | $6.0M | 0.70% | 46,569 | SH |
| 29 | Cenovus Energy Inc. | CVE | 15135U109 | $5.6M | 0.65% | 209,900 | SH |
| 30 | Air Products and Chemicals, Inc. | APD | 009158106 | $5.3M | 0.61% | 18,100 | SH |
| 31 | Expand Energy Corporation | EXE | 165167735 | $5.1M | 0.59% | 46,400 | SH |
| 32 | Corteva Inc. | CTVA | 22052L104 | $4.9M | 0.56% | 57,945 | SH |
| 33 | Coterra Energy Inc. | CTRA | 127097103 | $4.2M | 0.49% | 120,800 | SH |
| 34 | DuPont de Nemours, Inc. | DD | 26614N102 | $3.6M | 0.42% | 78,626 | SH |
| 35 | TechnipFMC plc | FTI | G87110105 | $3.4M | 0.39% | 48,600 | SH |
| 36 | Martin Marietta Materials, Inc. | MLM | 573284106 | $3.2M | 0.37% | 5,400 | SH |
| 37 | Crown Holdings, Inc. | CCK | 228368106 | $3.0M | 0.34% | 29,600 | SH |
| 38 | Packaging Corporation of America | PKG | 695156109 | $2.7M | 0.31% | 12,700 | SH |
| 39 | APA Corporation | APA | 03743Q108 | $2.4M | 0.28% | 56,000 | SH |
| 40 | Dow, Inc. | DOW | 260557103 | $2.2M | 0.26% | 52,945 | SH |
| 41 | Steel Dynamics, Inc. | STLD | 858119100 | $2.0M | 0.23% | 11,026 | SH |
| 42 | Cameco Corporation | CCJ | 13321L108 | $2.0M | 0.23% | 18,000 | SH |
| 43 | PPG Industries, Inc. | PPG | 693506107 | $1.9M | 0.22% | 18,100 | SH |
| 44 | Smurfit Westrock plc | SW | G8267P108 | $1.6M | 0.19% | 41,300 | SH |
| 45 | International Flavors & Fragrances Inc. | IFF | 459506101 | $1.5M | 0.17% | 20,206 | SH |
| 46 | International Paper Company | IP | 460146103 | $1.5M | 0.17% | 40,900 | SH |
| 47 | Amcor plc | AMCR | G0250X149 | $1.4M | 0.16% | 34,880 | SH |
| 48 | Albemarle Corporation | ALB | 012653101 | $1.3M | 0.15% | 7,200 | SH |
| 49 | LyondellBasell Industries N.V. | LYB | N53745100 | $1.3M | 0.15% | 15,600 | SH |
| 50 | Ball Corporation | BALL | 058498106 | $963.5K | 0.11% | 16,300 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-04-22 | $862.6M | 54 | 0001104659-26-046755 |
| 2025-12-31 | 2026-02-13 | $659.4M | 55 | 0001104659-26-014837 |