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

ADAMS DIVERSIFIED EQUITY FUND, INC.

Schedule of Investments

September 30, 2020
(unaudited)

​	Shares		Value (a)
Common Stocks — 99.7%
Communication Services — 10.3%
Activision Blizzard, Inc.	​	139,700	​	$	11,308,715
Alphabet Inc. Class A (b)	​	40,100	​	​	58,770,560
AT&T Inc.	​	457,382	​	​	13,039,961
Charter Communications, Inc. Class A (b)	​	23,400	​	​	14,609,556
Comcast Corporation Class A	​	668,200	​	​	30,910,932
Facebook, Inc. Class A (b)	​	196,800	​	​	51,541,920
Netflix, Inc. (b)	​	18,900	​	​	9,450,567
ViacomCBS Inc. Class B	​	196,400	​	​	5,501,164
Walt Disney Company	​	132,700	​	​	16,465,416
​			​	​	211,598,791
Consumer Discretionary — 12.0%
Amazon.com, Inc. (b)	​	33,900	​	​	106,741,947
Chipotle Mexican Grill, Inc. (b)	​	11,500	​	​	14,302,665
Dick’s Sporting Goods, Inc.	​	132,800	​	​	7,686,464
General Motors Company	​	196,300	​	​	5,808,517
Hilton Worldwide Holdings, Inc.	​	114,400	​	​	9,760,608
Home Depot, Inc.	​	118,100	​	​	32,797,551
Las Vegas Sands Corp.	​	180,700	​	​	8,431,462
Lowe’s Companies, Inc.	​	123,900	​	​	20,550,054
Magna International Inc.	​	129,400	​	​	5,920,050
NVR, Inc. (b)	​	1,800	​	​	7,349,616
Target Corporation	​	169,700	​	​	26,714,174
			​	​	246,063,108
Consumer Staples — 7.1%
Coca-Cola Company	​	600,400	​	​	29,641,748
Costco Wholesale Corporation	​	63,600	​	​	22,578,000
Mondelez International, Inc. Class A	​	348,100	​	​	19,998,345
PepsiCo, Inc.	​	118,700	​	​	16,451,820
Philip Morris International Inc.	​	263,500	​	​	19,759,865
Procter & Gamble Company	​	115,350	​	​	16,032,496
Walmart Inc.	​	151,100	​	​	21,140,401
​			​	​	145,602,675
Energy — 2.2%
Adams Natural Resources Fund, Inc. (c)(g)	​	2,186,774	​	​	21,386,650
Chevron Corporation	​	140,200	​	​	10,094,400
ConocoPhillips	​	210,300	​	​	6,906,252
Exxon Mobil Corporation	​	86,700	​	​	2,976,411
Valero Energy Corporation	​	69,000	​	​	2,989,080
			​	​	44,352,793

Schedule of Investments (continued)

September 30, 2020
(unaudited)

​	Shares		Value (a)
Financials — 9.8%
Aon plc	​	84,800	​	$	17,494,240
Bank of America Corp.	​	1,282,300	​	​	30,890,607
Berkshire Hathaway Inc. Class B (b)	​	82,400	​	​	17,546,256
Capital One Financial Corporation	​	185,900	​	​	13,358,774
Intercontinental Exchange, Inc.	​	206,600	​	​	20,670,330
JPMorgan Chase & Co.	​	283,800	​	​	27,321,426
MetLife, Inc.	​	501,300	​	​	18,633,321
Morgan Stanley	​	358,500	​	​	17,333,475
S&P Global, Inc.	​	63,200	​	​	22,789,920
T. Rowe Price Group	​	120,900	​	​	15,501,798
​			​	​	201,540,147
Health Care — 14.1%
Abbott Laboratories	​	256,400	​	​	27,904,012
AbbVie, Inc.	​	281,100	​	​	24,621,549
Alexion Pharmaceuticals, Inc. (b)	​	91,200	​	​	10,436,016
AmerisourceBergen Corporation	​	155,600	​	​	15,080,752
Bristol-Myers Squibb Company	​	395,000	​	​	23,814,550
Centene Corporation (b)	​	231,500	​	​	13,503,395
CVS Health Corporation	​	159,200	​	​	9,297,280
Edwards Lifesciences Corporation (b)	​	186,300	​	​	14,870,466
Eli Lilly and Company	​	132,000	​	​	19,538,640
Johnson & Johnson	​	158,300	​	​	23,567,704
Merck & Co., Inc.	​	106,800	​	​	8,859,060
Thermo Fisher Scientific Inc.	​	93,800	​	​	41,414,576
UnitedHealth Group Incorporated	​	137,900	​	​	42,993,083
Vertex Pharmaceuticals Incorporated (b)	​	52,100	​	​	14,177,452
			​	​	290,078,535
Industrials — 8.2%
Caterpillar Inc.	​	94,100	​	​	14,035,015
Cintas Corporation	​	23,800	​	​	7,921,354
Honeywell International Inc.	​	149,800	​	​	24,658,578
Industrial Select Sector SPDR Fund	​	192,100	​	​	14,787,858
Kansas City Southern	​	76,700	​	​	13,869,661
L3Harris Technologies Inc.	​	88,800	​	​	15,081,792
Lincoln Electric Holdings, Inc.	​	111,800	​	​	10,290,072
Parker-Hannifin Corporation	​	73,500	​	​	14,871,990
Raytheon Technologies Corporation	​	299,300	​	​	17,221,722
Union Pacific Corporation	​	142,400	​	​	28,034,288
United Rentals, Inc. (b)	​	43,800	​	​	7,643,100
​			​	​	168,415,430

Schedule of Investments (continued)

September 30, 2020
(unaudited)

​	Shares		Value (a)
Information Technology — 28.0%
Accenture plc Class A	​	39,500	​	$	8,926,605
Adobe Inc. (b)	​	66,300	​	​	32,515,509
Amphenol Corporation Class A	​	39,300	​	​	4,255,011
Apple Inc.	​	1,125,100	​	​	130,297,831
Applied Materials, Inc.	​	184,700	​	​	10,980,415
CDW Corp.	​	66,900	​	​	7,996,557
Cisco Systems, Inc.	​	292,800	​	​	11,533,392
Fidelity National Information Services, Inc.	​	123,700	​	​	18,209,877
Intel Corporation	​	203,200	​	​	10,521,696
Lam Research Corporation	​	44,600	​	​	14,796,050
Mastercard Incorporated Class A	​	96,400	​	​	32,599,588
Microsoft Corporation	​	675,900	​	​	142,162,047
NVIDIA Corporation	​	35,900	​	​	19,429,798
Oracle Corporation	​	122,200	​	​	7,295,340
PayPal Holdings Inc. (b)	​	42,200	​	​	8,314,666
QUALCOMM Incorporated	​	164,200	​	​	19,323,056
salesforce.com, inc. (b)	​	41,000	​	​	10,304,120
Skyworks Solutions, Inc.	​	82,500	​	​	12,003,750
Technology Select Sector SPDR Fund	​	161,300	​	​	18,823,710
VeriSign, Inc. (b)	​	58,400	​	​	11,963,240
Visa Inc. Class A	​	211,700	​	​	42,333,649
​			​	​	574,585,907
Materials — 1.9%
Linde plc	​	87,000	​	​	20,717,310
LyondellBasell Industries N.V.	​	71,800	​	​	5,061,182
Sherwin-Williams Company	​	20,200	​	​	14,074,148
​			​	​	39,852,640
Real Estate — 2.8%
American Tower Corporation	​	69,400	​	​	16,776,062
CBRE Group, Inc. Class A (b)	​	141,300	​	​	6,636,861
Equinix, Inc.	​	13,900	​	​	10,565,807
Prologis, Inc.	​	168,100	​	​	16,914,222
Simon Property Group, Inc.	​	93,800	​	​	6,066,984
​			​	​	56,959,936
Utilities — 3.3%
Alliant Energy Corporation	​	241,400	​	​	12,468,310
CMS Energy Corporation	​	215,200	​	​	13,215,432
NextEra Energy, Inc.	​	81,300	​	​	22,565,628
Utilities Select Sector SPDR Fund	​	105,400	​	​	6,258,652
WEC Energy Group Inc.	​	146,400	​	​	14,186,160
​			​	​	68,694,182

Schedule of Investments (continued)

September 30, 2020
(unaudited)

​	Shares		Value (a)
Total Common Stocks
(Cost $1,300,470,437)	​	​	​	$	2,047,744,144
Other Investments — 0.0%
Financials — 0.0%
Adams Funds Advisers, LLC (b)(d)(g)	​	​	​	​	​
(Cost $150,000)	​	​	​	​	466,000
Short-Term Investments — 0.3%
Money Market Funds — 0.3%
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 0.16% (e)	​	5,709,795	​	​	5,710,366
Northern Institutional Treasury Portfolio, 0.04% (e)	​	574,101	​	​	574,101
Total Short-Term Investments
(Cost $6,282,699)	​	​	​	​	6,284,467
Total — 100.0%
(Cost $1,306,903,136)	​	​	​	​	2,054,494,611
Other Assets Less Liabilities — 0.0%	​	​	​	​	(942,408	)
Net Assets — 100.0%	​	​	​	$	2,053,552,203

Schedule of Investments (continued)

September 30, 2020
(unaudited)

Total Return Swap Agreements — 0.1%

Description

​

​

​

Value and Unrealized Appreciation (Assets)

Value and Unrealized Depreciation (Liabilities)

Terms

Contract Type

Underlying Security

Termination Date

Notional Amount

Receive total return on underlying security and pay financing amount based on notional amount and daily U.S. Federal Funds rate plus 0.55%.

Long

Procter & Gamble Company (160,300 shares)

7/26/2021

​

$

18,870,468

​

$

3,504,399

​

$

—

Pay total return on underlying security and receive financing amount based on notional amount and daily U.S. Federal Funds rate less 0.45%.

Short

Consumer Staples Select Sector SPDR Fund (323,200 shares)

7/26/2021

​

​

(18,812,923)

​

​

—

​

​

(2,043,691)

Gross unrealized gain (loss) on open total return swap agreements

​

$

3,504,399

​

$

(2,043,691)

Net unrealized gain on open total return swap agreements (f)

​

$

1,460,708

​

​

​

(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)

Counterparty for all open total return swap agreements is Morgan Stanley. At September 30, 2020, $1,500,000 in cash collateral was held by the Fund.

(g)

During the nine months ended September 30, 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 September 30, 2020
Adams Funds Advisers, LLC (controlled)		n/a	$	-	$	-	$	-		$	466,000
Adams Natural Resources Fund, Inc. (non-controlled)		2,186,774		65,603		590,429		(14,607,650	)		21,386,650
Total			$	65,603	$	590,429	$	(14,607,650	)	$	21,852,650

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