Adams Diversified Equity Fund (ADX) NPORT-P N/a (Mar 2020 report)

ADAMS DIVERSIFIED EQUITY FUND, INC.

Schedule of Investments

March 31, 2020
(unaudited)

​	Shares		Value (a)
Common Stocks — 99.2%
Communication Services — 9.3%
Alphabet Inc. Class A (b)	​	41,100	​	$	47,756,145
Alphabet Inc. Class C (b)	​	11,197	​	​	13,019,984
AT&T Inc.	​	590,982	​	​	17,227,125
Comcast Corporation Class A	​	668,200	​	​	22,972,716
Facebook, Inc. Class A (b)	​	141,900	​	​	23,668,920
Netflix, Inc. (b)	​	15,000	​	​	5,632,500
Verizon Communications Inc.	​	86,800	​	​	4,663,764
Walt Disney Company	​	132,200	​	​	12,770,520
​			​	​	147,711,674
Consumer Discretionary — 9.9%
Amazon.com, Inc. (b)	​	37,600	​	​	73,309,472
Chipotle Mexican Grill, Inc. (b)	​	15,100	​	​	9,881,440
Darden Restaurants, Inc.	​	26,900	​	​	1,464,974
Las Vegas Sands Corp.	​	54,100	​	​	2,297,627
Lowe's Companies, Inc.	​	152,800	​	​	13,148,440
Magna International Inc.	​	86,800	​	​	2,770,656
NIKE, Inc. Class B	​	238,000	​	​	19,692,120
Ross Stores, Inc.	​	44,300	​	​	3,852,771
Starbucks Corporation	​	218,100	​	​	14,337,894
Target Corporation	​	169,700	​	​	15,777,009
Williams-Sonoma, Inc.	​	20,600	​	​	875,912
​			​	​	157,408,315
Consumer Staples — 7.8%
Coca-Cola Company	​	600,400	​	​	26,567,700
Consumer Staples Select Sector SPDR Fund	​	86,600	​	​	4,717,102
Costco Wholesale Corporation	​	63,600	​	​	18,134,268
Mondelez International, Inc. Class A	​	348,100	​	​	17,432,848
PepsiCo, Inc.	​	118,700	​	​	14,255,870
Philip Morris International Inc.	​	263,500	​	​	19,224,960
Procter & Gamble Company	​	115,350	​	​	12,688,500
Walmart Inc.	​	101,000	​	​	11,475,620
​			​	​	124,496,868
Energy — 3.0%
Adams Natural Resources Fund, Inc. (c)(f)	​	2,186,774	​	​	18,128,356
Chevron Corporation	​	163,300	​	​	11,832,718
ConocoPhillips	​	195,100	​	​	6,009,080
Exxon Mobil Corporation	​	165,600	​	​	6,287,832
Pioneer Natural Resources Company	​	76,800	​	​	5,387,520
​			​	​	47,645,506

Schedule of Investments (continued)

March 31, 2020
(unaudited)

​	Shares		Value (a)
Financials — 11.1%
Allstate Corporation	​	90,900	​	$	8,338,257
Bank of America Corp.	​	1,128,100	​	​	23,949,563
Berkshire Hathaway Inc. Class B (b)	​	107,600	​	​	19,672,508
Citigroup Inc.	​	35,600	​	​	1,499,472
Hartford Financial Services Group, Inc.	​	45,600	​	​	1,606,944
Intercontinental Exchange, Inc.	​	226,700	​	​	18,306,025
JPMorgan Chase & Co.	​	364,700	​	​	32,833,941
MetLife, Inc.	​	420,300	​	​	12,848,571
S&P Global, Inc.	​	71,800	​	​	17,594,590
T. Rowe Price Group	​	167,400	​	​	16,346,610
Travelers Companies, Inc.	​	119,700	​	​	11,892,195
Wells Fargo & Company	​	437,600	​	​	12,559,120
​			​	​	177,447,796
Health Care — 14.2%
Abbott Laboratories	​	225,000	​	​	17,754,750
AbbVie, Inc.	​	322,700	​	​	24,586,513
Agilent Technologies, Inc.	​	177,100	​	​	12,683,902
Bristol-Myers Squibb Company	​	152,900	​	​	8,522,646
CVS Health Corporation	​	296,900	​	​	17,615,077
Edwards Lifesciences Corporation (b)	​	62,100	​	​	11,713,302
HCA Healthcare Inc	​	17,300	​	​	1,554,405
Health Care Select Sector SPDR Fund	​	26,100	​	​	2,311,938
Johnson & Johnson	​	200,500	​	​	26,291,565
Medtronic plc	​	222,700	​	​	20,083,086
Merck & Co., Inc.	​	289,300	​	​	22,258,742
Thermo Fisher Scientific Inc.	​	93,800	​	​	26,601,680
UnitedHealth Group Incorporated	​	137,900	​	​	34,389,502
			​	​	226,367,108
Industrials — 8.5%
Caterpillar Inc.	​	94,100	​	​	10,919,364
Cintas Corporation	​	31,000	​	​	5,369,820
General Electric Company	​	1,410,022	​	​	11,195,575
Honeywell International Inc.	​	203,000	​	​	27,159,370
Kansas City Southern	​	138,500	​	​	17,614,430
L3Harris Technologies Inc.	​	112,300	​	​	20,227,476
Lincoln Electric Holdings, Inc.	​	111,800	​	​	7,714,200
Parker-Hannifin Corporation	​	89,200	​	​	11,571,916
Union Pacific Corporation	​	148,300	​	​	20,916,232
United Rentals, Inc. (b)	​	24,500	​	​	2,521,050
​			​	​	135,209,433

Schedule of Investments (continued)

March 31, 2020
(unaudited)

​	Shares		Value (a)
Information Technology — 25.4%
Accenture plc Class A	​	39,500	​	$	6,448,770
Adobe Inc. (b)	​	66,300	​	​	21,099,312
Amphenol Corporation Class A	​	39,300	​	​	2,864,184
Apple Inc.	​	292,300	​	​	74,328,967
Applied Materials, Inc.	​	222,500	​	​	10,194,950
Cisco Systems, Inc.	​	292,800	​	​	11,509,968
Fidelity National Information Services, Inc.	​	123,700	​	​	15,046,868
Intel Corporation	​	167,700	​	​	9,075,924
Lam Research Corporation	​	55,100	​	​	13,224,000
Mastercard Incorporated Class A	​	96,400	​	​	23,286,384
Microsoft Corporation	​	715,200	​	​	112,794,192
Oracle Corporation	​	122,200	​	​	5,905,926
salesforce.com, inc. (b)	​	134,800	​	​	19,408,504
Technology Select Sector SPDR Fund	​	200,000	​	​	16,074,000
Texas Instruments Incorporated	​	164,100	​	​	16,398,513
VeriSign, Inc (b)	​	68,200	​	​	12,282,138
Visa Inc. Class A	​	211,700	​	​	34,109,104
​			​	​	404,051,704
Materials — 1.8%
DuPont de Nemours, Inc.	​	55,100	​	​	1,878,910
Linde plc	​	76,000	​	​	13,148,000
LyondellBasell Industries N.V.	​	71,800	​	​	3,563,434
Sherwin-Williams Company	​	20,200	​	​	9,282,304
​			​	​	27,872,648
Real Estate — 3.2%
American Tower Corporation	​	73,600	​	​	16,026,400
AvalonBay Communities, Inc.	​	69,300	​	​	10,198,881
Equinix, Inc.	​	11,300	​	​	7,057,641
Prologis, Inc.	​	210,400	​	​	16,909,848
​			​	​	50,192,770
S&P 500 Index — 1.4%
SPDR S&P 500 ETF Trust	​	88,600	​	​	22,836,650
Utilities — 3.6%
Ameren Corporation	​	161,600	​	​	11,769,328
FirstEnergy Corp.	​	261,600	​	​	10,482,312
NextEra Energy, Inc.	​	90,300	​	​	21,727,986
WEC Energy Group Inc.	​	156,100	​	​	13,757,093
​			​	​	57,736,719

Schedule of Investments (continued)

March 31, 2020
(unaudited)

​	Shares		Value (a)
Total Common Stocks
(Cost $1,266,983,763)	​	​	​	$	1,578,977,191
Other Investments — 0.0%
Financials — 0.0%
Adams Funds Advisers, LLC (b)(d)(f)	​	​	​	​	​
(Cost $150,000)	​	​	​	​	466,000
Short-Term Investments — 0.7%
Money Market Funds — 0.7%
Northern Institutional Treasury Portfolio, 0.45% (e)	​	​	​	​	​
(Cost $11,674,637)	​	11,674,637	​	​	11,674,637
Total — 99.9%
(Cost $1,278,808,400)	​	​	​	​	1,591,117,828
Other Assets Less Liabilities — 0.1%	​	​	​	​	647,484
Net Assets — 100.0%	​	​	​	$	1,591,765,312

(a)

Common stocks are listed on the New York Stock Exchange or NASDAQ and are valued at the last reported sale price on the day of valuation.

(b)

Presently non-dividend paying.

(c)

Non-controlled affiliate, a closed-end sector fund, registered as an investment company under the Investment Company Act of 1940.

(d)

Controlled affiliate valued using fair value procedures.

(e)

Rate presented is as of period-end and represents the annualized yield earned over the previous seven days.

(f)

During the three months ended March 31, 2020, investments in affiliates were as follows:

 

Affiliate	Shares held		Net realized gain (loss) and capital gain distributions		Dividend income		Change in unrealized appreciation			Value March 31, 2020
Adams Funds Advisers, LLC (controlled)		n/a	$	–	$	–	$	–		$	466,000
Adams Natural Resources Fund, Inc. (non-controlled)		2,186,774		65,603		153,074		(17,865,944	)		18,128,356
Total			$	65,603	$	153,074	$	(17,865,944	)	$	18,594,356

Information regarding transactions in equity securities during the quarter can be found on our website at: www.adamsfunds.com.