Adams Natural Resources Fund
BALTIMORE, MDfiles as ADAMS NATURAL RESOURCES FUND, INC.
$763m in 51 US stocks at the end of 30 June 2026. The top 10 are 67.0% of the money. It changed about 32.2% of the portfolio this quarter.
Value
$763m
Stocks
51
Top 10 share
67.0%
Turnover
32.2%
What changed this quarter
New
Bought for the first time this quarter.
- ExxonMobil HoldingsXOM24.1% of the fund
- DuPont de NemoursDD0.6% of the fund
Added
Bought more of a stock they already held.
- ConocoPhillipsCOP6.1% of the fund+18%
- Valero EnergyVLO3.9% of the fund+20%
- Occidental PetroleumOXY2.0% of the fund+85%
- Diamondback EnergyFANG1.9% of the fund+13%
- HalliburtonHAL1.6% of the fund+2%
- Sherwin-WilliamsSHW1.5% of the fund+40%
- Expand EnergyEXE1.1% of the fund+91%
- International Flavors & FragrancesIFF0.7% of the fund+229%
Cut
Sold some of their stake.
- ChevronCVX12.7% of the fund-5%
- Williams CompaniesWMB4.1% of the fund-7%
- Phillips 66PSX3.1% of the fund-9%
- Marathon PetroleumMPC2.7% of the fund-6%
- NewmontNEM1.5% of the fund-6%
- Devon EnergyDVN1.4% of the fund-30%
- NucorNUE1.3% of the fund-17%
- EQTEQT1.1% of the fund-32%
- CRH PublicCRH0.8% of the fund-10%
- CF Industries HoldingsCF0.6% of the fund-8%
- Martin Marietta MaterialsMLM0.3% of the fund-17%
- Packaging Corp of AmericaPKG0.2% of the fund-58%
Sold out
Sold their entire stake.
- ExxonMobil HoldingsXOM-100%
- Cenovus EnergyCVE-100%
- Coterra EnergyCTRA-100%
- DuPont de NemoursDD-100%
- Crown HoldingsCCK-100%
Holdings
- CamecoCCJ
- Share
- 0.2%
- Value
- $2m
- Shares
- 18,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| ExxonMobil HoldingsXOM | 24.1% | $184m | 1,346,355 | New |
| ChevronCVX | 12.7% | $97m | 586,624 | -5% |
| ConocoPhillipsCOP | 6.1% | $46m | 444,303 | +18% |
| Williams CompaniesWMB | 4.1% | $32m | 425,250 | -7% |
| Valero EnergyVLO | 3.9% | $30m | 113,700 | +20% |
| LindeLIN | 3.7% | $28m | 53,700 | Held |
| SLB LimitedSLB | 3.3% | $25m | 547,633 | Held |
| Targa ResourcesTRGP | 3.2% | $25m | 91,600 | Held |
| Phillips 66PSX | 3.1% | $24m | 141,475 | -9% |
| Marathon PetroleumMPC | 2.7% | $20m | 79,912 | -6% |
| EOG ResourcesEOG | 2.4% | $18m | 140,067 | Held |
| Occidental PetroleumOXY | 2.0% | $15m | 306,551 | +85% |
| Diamondback EnergyFANG | 1.9% | $15m | 83,800 | +13% |
| Freeport-McMoRanFCX | 1.9% | $15m | 233,200 | Held |
| Kinder MorganKMI | 1.8% | $14m | 429,392 | Held |
| Baker HughesBKR | 1.6% | $12m | 223,800 | Held |
| OneokOKE | 1.6% | $12m | 140,500 | Held |
| HalliburtonHAL | 1.6% | $12m | 353,053 | +2% |
| Sherwin-WilliamsSHW | 1.5% | $12m | 33,700 | +40% |
| NewmontNEM | 1.5% | $11m | 120,100 | -6% |
| Devon EnergyDVN | 1.4% | $11m | 261,760 | -30% |
| NucorNUE | 1.3% | $10m | 43,100 | -17% |
| EcolabECL | 1.1% | $9m | 31,400 | Held |
| Vulcan MaterialsVMC | 1.1% | $8m | 27,700 | Held |
| EQTEQT | 1.1% | $8m | 153,000 | -32% |
| Expand EnergyEXE | 1.1% | $8m | 88,500 | +91% |
| CRH PublicCRH | 0.8% | $6m | 57,400 | -10% |
| Texas Pacific LandTPL | 0.8% | $6m | 13,350 | Held |
| Air Products & ChemicalsAPD | 0.7% | $5m | 18,100 | Held |
| International Flavors & FragrancesIFF | 0.7% | $5m | 66,506 | +229% |
| CortevaCTVA | 0.6% | $5m | 57,945 | Held |
| CF Industries HoldingsCF | 0.6% | $5m | 42,669 | -8% |
| DuPont de NemoursDD | 0.6% | $4m | 31,642 | New |
| TechnipFMCFTI | 0.4% | $3m | 48,600 | Held |
| Martin Marietta MaterialsMLM | 0.3% | $3m | 4,500 | -17% |
| Steel DynamicsSTLD | 0.3% | $3m | 11,026 | Held |
| PPG IndustriesPPG | 0.3% | $2m | 18,100 | Held |
| Smurfit WestrockSW | 0.3% | $2m | 41,300 | Held |
| CamecoCCJ | 0.2% | $2m | 18,000 | Held |
| APAAPA | 0.2% | $2m | 56,000 | Held |
| International PaperIP | 0.2% | $2m | 40,900 | Held |
| AmcorAMCR | 0.2% | $2m | 34,880 | Held |
| DOWDOW | 0.2% | $1m | 52,945 | Held |
| Packaging Corp of AmericaPKG | 0.2% | $1m | 5,300 | -58% |
| BallBALL | 0.1% | $1m | 16,300 | Held |
| AlbemarleALB | 0.1% | $972,216 | 7,200 | Held |
| Avery DennisonAVY | 0.1% | $876,690 | 5,400 | Held |
| LyondellBasell IndustriesLYB | 0.1% | $821,340 | 15,600 | Held |
| MosaicMOS | <0.1% | $449,249 | 21,201 | Held |
| Eos Energy EnterprisesEOSE | <0.1% | $368,088 | 62,600 | Held |
| Chord EnergyCHRD | <0.1% | $25,718 | 225 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 20.9% since 30 June 2025.
Where the money is
Energy81.2%
Materials18.2%
Industrials0.6%
Technology0.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.