Adams Diversified Equity Fund (ADX) NPORT-P N/a (Mar 2021 report)

Schedule of Investments

March 31, 2021
(unaudited)

​	Shares		Value (a)
Common Stocks — 99.6%
Communication Services — 11.0%
Activision Blizzard, Inc.	​	126,000	​	$	11,718,000
Alphabet Inc. Class A (b)	​	45,400	​	​	93,638,408
AT&T Inc.	​	237,882	​	​	7,200,688
Comcast Corporation Class A	​	710,700	​	​	38,455,977
Facebook, Inc. Class A (b)	​	189,700	​	​	55,872,341
Netflix, Inc. (b)	​	25,331	​	​	13,214,169
T-Mobile US, Inc. (b)	​	101,500	​	​	12,716,935
Walt Disney Company	​	132,700	​	​	24,485,804
​			​	​	257,302,322
Consumer Discretionary — 11.7%
Amazon.com, Inc. (b)	​	31,700	​	​	98,082,336
Chipotle Mexican Grill, Inc. (b)	​	10,700	​	​	15,202,774
General Motors Company (b)	​	196,300	​	​	11,279,398
Hilton Worldwide Holdings, Inc. (b)	​	114,400	​	​	13,833,248
Home Depot, Inc.	​	27,300	​	​	8,333,325
Lowe’s Companies, Inc.	​	81,600	​	​	15,518,688
O’Reilly Automotive, Inc. (b)	​	29,700	​	​	15,065,325
Target Corporation	​	144,300	​	​	28,581,501
Tesla Motors, Inc. (b)	​	36,600	​	​	24,446,238
TJX Companies, Inc.	​	280,700	​	​	18,568,305
Ulta Beauty, Inc. (b)	​	37,700	​	​	11,655,709
V.F. Corporation	​	187,400	​	​	14,977,008
​			​	​	275,543,855
Consumer Staples — 6.1%
Coca-Cola Company	​	268,200	​	​	14,136,822
Constellation Brands, Inc. Class A	​	52,400	​	​	11,947,200
Costco Wholesale Corporation	​	53,000	​	​	18,681,440
Lamb Weston Holdings, Inc.	​	229,800	​	​	17,804,904
Monster Beverage Corporation (b)	​	160,900	​	​	14,656,381
PepsiCo, Inc.	​	78,800	​	​	11,146,260
Philip Morris International Inc.	​	309,700	​	​	27,482,778
Post Holdings, Inc. (b)	​	117,000	​	​	12,369,240
Procter & Gamble Company	​	115,350	​	​	15,621,851
			​	​	143,846,876
Energy — 3.2%
Adams Natural Resources Fund, Inc. (c)(f)	​	2,186,774	​	​	32,167,446
ConocoPhillips	​	314,800	​	​	16,674,956
Hess Corporation	​	190,800	​	​	13,501,008
Schlumberger N.V.	​	489,900	​	​	13,320,381
			​	​	75,663,791

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Schedule of Investments (continued)

March 31, 2021
(unaudited)

​	Shares		Value (a)
Financials — 11.7%
Bank of America Corp.	​	1,148,400	​	$	44,431,596
Berkshire Hathaway Inc. Class B (b)	​	169,600	​	​	43,327,712
Capital One Financial Corporation	​	185,200	​	​	23,562,996
Intercontinental Exchange, Inc.	​	94,800	​	​	10,587,264
JPMorgan Chase & Co.	​	300,700	​	​	45,775,561
MetLife, Inc.	​	521,400	​	​	31,695,906
Morgan Stanley	​	413,800	​	​	32,135,708
T. Rowe Price Group	​	106,700	​	​	18,309,720
Wells Fargo & Company	​	665,700	​	​	26,008,899
​			​	​	275,835,362
Health Care — 13.2%
Abbott Laboratories	​	256,400	​	​	30,726,976
AbbVie, Inc.	​	240,900	​	​	26,070,198
Alexion Pharmaceuticals, Inc. (b)	​	91,200	​	​	13,945,392
AmerisourceBergen Corporation	​	155,600	​	​	18,371,692
Bristol-Myers Squibb Company	​	270,300	​	​	17,064,039
Centene Corporation (b)	​	134,800	​	​	8,615,068
CVS Health Corporation	​	251,800	​	​	18,942,914
Edwards Lifesciences Corporation (b)	​	186,300	​	​	15,582,132
Eli Lilly and Company	​	132,000	​	​	24,660,240
IDEXX Laboratories, Inc. (b)	​	13,800	​	​	6,752,478
Johnson & Johnson	​	145,400	​	​	23,896,490
Thermo Fisher Scientific Inc.	​	89,000	​	​	40,617,820
UnitedHealth Group Incorporated	​	132,100	​	​	49,150,447
Vertex Pharmaceuticals Incorporated (b)	​	71,200	​	​	15,300,168
​			​	​	309,696,054
Industrials — 9.1%
Alaska Air Group, Inc. (b)	​	179,200	​	​	12,402,432
Boeing Company (b)	​	97,800	​	​	24,911,616
Carrier Global Corporation	​	392,600	​	​	16,575,572
Caterpillar Inc.	​	126,800	​	​	29,401,116
Honeywell International Inc.	​	127,800	​	​	27,741,546
Huntington Ingalls Industries, Inc.	​	64,000	​	​	13,174,400
Kansas City Southern	​	48,300	​	​	12,747,336
Knight-Swift Transportation Holdings Inc.	​	254,000	​	​	12,214,860
Parker-Hannifin Corporation	​	73,500	​	​	23,184,105
Raytheon Technologies Corporation	​	209,800	​	​	16,211,246
Union Pacific Corporation	​	51,700	​	​	11,395,197
United Rentals, Inc. (b)	​	43,800	​	​	14,423,778
​			​	​	214,383,204

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Schedule of Investments (continued)

March 31, 2021
(unaudited)

​	Shares		Value (a)
Information Technology — 26.3%
Accenture plc Class A	​	39,500	​	$	10,911,875
Adobe Inc. (b)	​	55,800	​	​	26,525,646
Amphenol Corporation Class A	​	219,800	​	​	14,500,206
Apple Inc.	​	1,065,400	​	​	130,138,610
Arista Networks, Inc. (b)	​	44,700	​	​	13,494,483
CDW Corp.	​	66,900	​	​	11,088,675
Cisco Systems, Inc.	​	271,900	​	​	14,059,949
Fair Isaac Corporation (b)	​	24,600	​	​	11,956,830
Intuit Inc.	​	52,100	​	​	19,957,426
Lam Research Corporation	​	44,600	​	​	26,547,704
Mastercard Incorporated Class A	​	110,500	​	​	39,343,525
Microchip Technology Incorporated	​	113,200	​	​	17,570,904
Micron Technology, Inc. (b)	​	276,300	​	​	24,372,423
Microsoft Corporation	​	618,100	​	​	145,729,437
NVIDIA Corporation	​	58,100	​	​	31,021,333
Oracle Corporation	​	122,200	​	​	8,574,774
PayPal Holdings Inc. (b)	​	42,200	​	​	10,247,848
QUALCOMM Incorporated	​	157,500	​	​	20,882,925
Visa Inc. Class A	​	189,600	​	​	40,144,008
​			​	​	617,068,581
Materials — 2.4%
Air Products and Chemicals, Inc.	​	15,900	​	​	4,473,306
DuPont de Nemours, Inc.	​	177,700	​	​	13,732,656
LyondellBasell Industries N.V.	​	114,800	​	​	11,944,940
Sherwin-Williams Company	​	20,200	​	​	14,907,802
Steel Dynamics, Inc.	​	235,200	​	​	11,938,752
​			​	​	56,997,456
Real Estate — 2.3%
CBRE Group, Inc. Class A (b)	​	126,000	​	​	9,967,860
Equinix, Inc.	​	19,600	​	​	13,319,964
Prologis, Inc.	​	92,800	​	​	9,836,800
Simon Property Group, Inc.	​	91,900	​	​	10,455,463
Weyerhaeuser Company	​	292,700	​	​	10,420,120
​			​	​	54,000,207
Utilities — 2.6%
CMS Energy Corporation	​	180,800	​	​	11,068,576
Edison International	​	198,100	​	​	11,608,660
NextEra Energy, Inc.	​	124,100	​	​	9,383,201
Public Service Enterprise Group Incorporated	​	233,900	​	​	14,083,119
Southern Company	​	222,800	​	​	13,849,248
​			​	​	59,992,804

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Schedule of Investments (continued)

March 31, 2021
(unaudited)

​	Shares		Value (a)
Total Common Stocks
(Cost $1,384,876,617)	​	​	​	$	2,340,330,512
Other Investments — 0.0%
Financials — 0.0%
Adams Funds Advisers, LLC (b)(d)(f)	​	​	​	​	​
(Cost $150,000)	​	​	​	​	466,000
Short-Term Investments — 0.4%
Money Market Funds — 0.4%
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 0.06% (e)	​	6,310,495	​	​	6,311,757
Northern Institutional Treasury Portfolio, 0.01% (e)	​	2,037,081	​	​	2,037,081
Total Short-Term Investments
(Cost $8,346,439)	​	​	​	​	8,348,838
Total — 100.0%
(Cost $1,393,373,056)	​	​	​	​	2,349,145,350
Other Assets Less Liabilities — (0.0)%	​	​	​	​	(158,608	)
Net Assets — 100.0%	​	​	​	$	2,348,986,742

(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, 2021, investments in affiliates were as follows:

Affilate	Shares held	Net realized gain (loss) and capital gain distributions	Dividend income	Change in unrealized appreciation	Value March 31, 2021
Adams Funds Advisers, LLC (controlled)	n/a	$                          -	$                         -	$               -	$       466,000
Adams Natural Resources Fund, Inc. (non-controlled)	2,186,774	65,603	153,074	7,303,826	32,167,446
Total		$                 65,603	$              153,074	$  7,303,826	$ 32,633,446

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

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