Adams Asset Advisors, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 14, 2026), Adams Asset Advisors, LLC reported 86 stock positions worth $865.0 million. Its top holding was JPM Nasdaq Equity Premium (JEPQ) at 10.0% of the portfolio, followed by Occidental Petroleum (OXY, 9.3%) and Calumet (CLMT, 8.4%). Compared with Q1 2026, it opened 1 new position, sold out of 1, added to 33 and reduced 20. The biggest buy was JPM Nasdaq Equity Premium (JEPQ, shares +30%) and the biggest sale Calumet (CLMT, shares −37%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001386929
Portfolio Value
$865.0M (Q2 2026)
SEC Filing
0001386929-26-000010 ↗ filed Jul 14, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $750.4M Q1 2024 Q2 2024: $745.0M Q2 2024 Q3 2024: $739.7M Q3 2024 Q4 2024: $763.5M Q4 2024 Q1 2025: $714.4M Q1 2025 Q2 2025: $698.7M Q2 2025 Q3 2025: $761.2M Q3 2025 Q4 2025: $748.2M Q4 2025 Q1 2026: $868.1M Q1 2026 Q2 2026: $865.0M $865.0M Q2 2026

Holdings 86 stocks · $865.0M
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 10.00% 1,408,060 $86.5M Add +29.5%
OXY Occidental Petroleum Corp. 9.27% 1,650,049 $80.1M Reduce -1.9%
CLMT Calumet Inc. 8.35% 2,006,206 $72.3M Reduce -37.4%
SUN Sunoco LP 4.42% 565,822 $38.2M No change
ET Energy Transfer LP 3.26% 1,473,560 $28.2M Add +2.2%
BRK.B Berkshire Hathaway Inc. Class B 2.93% 50,700 $25.4M Add +53.9%
DMLP Dorchester Minerals LP 2.66% 910,934 $23.0M Add +2.5%
AAPL Apple Inc. 2.63% 78,740 $22.8M Add +0.8%
BTI British American Tob-SP ADR 2.45% 343,016 $21.2M No change
C Citigroup Inc. 2.40% 148,294 $20.8M Reduce -0.7%
CMI Cummins Inc. 2.33% 28,232 $20.1M Reduce -0.5%
PAA Plains All Amer Pipeline LP 2.12% 823,061 $18.3M No change
CSCO Cisco Systems Inc. 2.11% 155,638 $18.3M Reduce -1.0%
NEM Newmont Corp. 2.11% 195,064 $18.2M Reduce -2.0%
DINO HF Sinclair Corp. 1.96% 243,842 $17.0M No change
MO Altria Group Inc. 1.96% 235,728 $17.0M No change
VLO Valero Energy Corp. 1.94% 64,384 $16.8M No change
WES Western Midstream Partners L 1.90% 374,823 $16.4M Add +9.6%
ABBV Abbvie Inc. 1.83% 62,912 $15.8M No change
EPD Enterprise Products Partners 1.69% 398,768 $14.7M No change
GS Goldman Sachs Group Inc. 1.68% 14,407 $14.6M Add +1.9%
BAC Bank of America Corp. 1.60% 243,543 $13.9M No change
WFC Wells Fargo & Co. 1.53% 159,645 $13.2M Reduce -0.1%
AMGN Amgen Inc. 1.51% 36,046 $13.1M Add +0.4%
MPLX MPLX LP 1.44% 221,452 $12.5M Add +2.5%
VZ Verizon Communications Inc. 1.44% 293,295 $12.4M Reduce -0.1%
CVX Chevron Corp. 1.31% 68,368 $11.3M Reduce -0.1%
KMB Kimberly-Clark Corp. 1.12% 88,292 $9.7M Add +6.2%
T AT&T Inc. 1.04% 435,188 $9.0M Add +0.9%
PFE Pfizer Inc. 0.96% 345,049 $8.3M Add +1.0%
WTTR Select Water Solutions Inc. 0.95% 409,161 $8.2M No change
HRL Hormel Foods Corp. 0.86% 298,796 $7.4M Add +6.0%
BMY Bristol-Myers Squibb Co. 0.83% 125,138 $7.2M Add +1.5%
UVV Universal Corp. 0.81% 133,892 $7.0M Reduce -5.8%
SCHD Schwab US DVD Equity ETF 0.80% 217,242 $6.9M Reduce -1.3%
MSFT Microsoft Corp. 0.77% 17,877 $6.7M Add +3.2%
WPC WP Carey Inc. 0.75% 90,882 $6.5M Add +10.3%
ARLP Alliance Resource Partners 0.72% 259,013 $6.2M Add +1.4%
PEP Pepsico Inc. 0.70% 44,582 $6.0M Add +7.0%
HPQ HP Inc. 0.64% 251,744 $5.5M No change
UPS United Parcel Service Class B 0.52% 41,801 $4.5M Add +4.7%
PG The Procter & Gamble Co. 0.51% 29,909 $4.4M Add +42.1%
KMI Kinder Morgan Inc. 0.51% 136,684 $4.4M No change
MKL Markel Group Inc. 0.45% 2,000 $3.9M Add +90.5%
O Realty Income Corp. 0.45% 62,414 $3.9M Add +19.0%
NNN NNN REIT Inc. 0.42% 78,933 $3.7M Add +26.9%
DKL Delek Logistics Partners LP 0.42% 70,288 $3.6M No change
MLPA Global X MLP ETF 0.40% 65,919 $3.5M Add +5.4%
STWD Starwood Property Trust Inc. 0.38% 202,449 $3.3M Add +112.7%
AHRT Ah Realty Trust Inc. 0.33% 400,000 $2.8M Reduce -9.1%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.31% 22,270 $2.7M No change
WMB Williams Cos Inc. 0.30% 34,884 $2.6M No change
OWL Blue Owl Capital Inc. 0.29% 289,496 $2.5M Add +142.3%
AVGO Broadcom Inc. 0.29% 6,703 $2.5M No change
ENB Enbridge Inc. 0.29% 46,445 $2.5M No change
BTU Peabody Energy Corp. 0.27% 100,000 $2.3M No change
GBDC Golub Capital BDC Inc. 0.26% 177,299 $2.3M Add +17.8%
MSDL Morgan Stanley Direct Lendin 0.26% 148,696 $2.2M Add +29.9%
GOOGL Alphabet Inc. Class A 0.26% 6,261 $2.2M No change
GSBD Goldman Sachs BDC Inc. 0.25% 227,546 $2.2M Reduce -39.3%
OBDC Blue Owl Capital Corp. 0.25% 197,655 $2.1M Add +16.5%
OKE Oneok Inc. 0.19% 18,941 $1.6M No change
NCDL Nuveen Churchill Direct Lend 0.19% 132,279 $1.6M Add +45.3%
PAGP Plains GP Holdings LP 0.16% 57,753 $1.4M No change
WY Weyerhaeuser Co. 0.16% 58,454 $1.4M Add +7.6%
SCHG Schwab US Large-Cap Growth 0.16% 41,324 $1.4M Reduce -0.7%
XOM Exxon Mobil Corp. 0.16% 10,040 $1.4M No change
KBDC Kayne Anderson BDC Inc. 0.16% 101,163 $1.4M Add +397.3%
SPG Simon Property Group Inc. 0.15% 5,789 $1.3M No change
CAG Conagra Brands Inc. 0.14% 89,867 $1.2M Reduce -42.2%
CCAP Crescent Capital BDC Inc. 0.14% 109,828 $1.2M Add +37.6%
BXSL Blackstone Secured Lending F 0.14% 50,169 $1.2M No change
META Meta Platforms Inc. Class A 0.13% 1,938 $1.1M No change
MPT Medical Properties Trust Inc. 0.11% 213,470 $986K Reduce -21.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.11% 8,399 $916K Reduce -1.0%
KRP Kimbell Royalty Partners LP 0.09% 55,780 $810K No change
BIZD Vaneck BDC Income ETF 0.09% 62,579 $792K Reduce -15.5%
HESM Hess Midstream LP Class A 0.09% 20,550 $773K No change
PFFD Global X US Preferred ETF 0.08% 38,925 $728K Reduce -0.9%
FDUS Fidus Investment Corp. 0.07% 32,919 $628K New
JNJ Johnson & Johnson 0.07% 2,277 $578K Reduce -3.0%
TTYP Trinity Pete TR CTF Ben Int 0.06% 10,020 $526K No change
GLP Global Partners LP 0.05% 9,860 $459K No change
SLV iShares Silver Trust 0.04% 7,000 $374K No change
FFIN First Finl Bankshares Inc. 0.04% 8,760 $303K No change
DVY iShares Select Dividend ETF 0.02% 1,331 $208K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $16.7M (not counted above)
SecurityClassShares / PrincipalValueChange
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 468,312$12.5MNo change
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 173,571$4.3MAdd +28.7%

Total filed on the 13F, all lines: $881.7M.

Portfolio Sells Q1 2026 → Q2 2026
CLMT Calumet Inc. Reduce -37.4% 8.35% −4.89
OXY Occidental Petroleum Corp. Reduce -1.9% 9.27% −3.33
NEM Newmont Corp. Reduce -2.0% 2.11% −0.37
CVX Chevron Corp. Reduce -0.1% 1.31% −0.32
VZ Verizon Communications Inc. Reduce -0.1% 1.44% −0.26
FSK FS KKR Capital Corp. Sold out 0.00% −0.16
CAG Conagra Brands Inc. Reduce -42.2% 0.14% −0.14
GSBD Goldman Sachs BDC Inc. Reduce -39.3% 0.25% −0.13
UVV Universal Corp. Reduce -5.8% 0.81% −0.06
MPT Medical Properties Trust Inc. Reduce -21.3% 0.11% −0.03
BIZD Vaneck BDC Income ETF Reduce -15.5% 0.09% −0.02
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -1.0% 0.11% −0.00
PFFD Global X US Preferred ETF Reduce -0.9% 0.08% +0.00
JNJ Johnson & Johnson Reduce -3.0% 0.07% +0.00
SCHD Schwab US DVD Equity ETF Reduce -1.3% 0.80% +0.02
SCHG Schwab US Large-Cap Growth Reduce -0.7% 0.16% +0.02
AHRT Ah Realty Trust Inc. Reduce -9.1% 0.33% +0.05
WFC Wells Fargo & Co. Reduce -0.1% 1.53% +0.06
C Citigroup Inc. Reduce -0.7% 2.40% +0.45
CMI Cummins Inc. Reduce -0.5% 2.33% +0.57
CSCO Cisco Systems Inc. Reduce -1.0% 2.11% +0.71

Portfolio Buys Q1 2026 → Q2 2026
JEPQ JPM Nasdaq Equity Premium Add +29.5% 10.00% +3.05
BRK.B Berkshire Hathaway Inc. Class B Add +53.9% 2.93% +1.11
AAPL Apple Inc. Add +0.8% 2.63% +0.35
GS Goldman Sachs Group Inc. Add +1.9% 1.68% +0.31
WES Western Midstream Partners L Add +9.6% 1.90% +0.27
MKL Markel Group Inc. Add +90.5% 0.45% +0.22
KMB Kimberly-Clark Corp. Add +6.2% 1.12% +0.20
STWD Starwood Property Trust Inc. Add +112.7% 0.38% +0.19
OWL Blue Owl Capital Inc. Add +142.3% 0.29% +0.17
PG The Procter & Gamble Co. Add +42.1% 0.51% +0.16
KBDC Kayne Anderson BDC Inc. Add +397.3% 0.16% +0.13
NNN NNN REIT Inc. Add +26.9% 0.42% +0.12
HRL Hormel Foods Corp. Add +6.0% 0.86% +0.12
WPC WP Carey Inc. Add +10.3% 0.75% +0.11
O Realty Income Corp. Add +19.0% 0.45% +0.08
MSDL Morgan Stanley Direct Lendin Add +29.9% 0.26% +0.08
FDUS Fidus Investment Corp. New 0.07% +0.07
UPS United Parcel Service Class B Add +4.7% 0.52% +0.07
NCDL Nuveen Churchill Direct Lend Add +45.3% 0.19% +0.06
AMGN Amgen Inc. Add +0.4% 1.51% +0.05
ET Energy Transfer LP Add +2.2% 3.26% +0.05
GBDC Golub Capital BDC Inc. Add +17.8% 0.26% +0.04
MSFT Microsoft Corp. Add +3.2% 0.77% +0.03
OBDC Blue Owl Capital Corp. Add +16.5% 0.25% +0.03
CCAP Crescent Capital BDC Inc. Add +37.6% 0.14% +0.03
MPLX MPLX LP Add +2.5% 1.44% +0.02
MLPA Global X MLP ETF Add +5.4% 0.40% +0.02
WY Weyerhaeuser Co. Add +7.6% 0.16% +0.01
BMY Bristol-Myers Squibb Co. Add +1.5% 0.83% −0.03
PEP Pepsico Inc. Add +7.0% 0.70% −0.05
ARLP Alliance Resource Partners Add +1.4% 0.72% −0.10
DMLP Dorchester Minerals LP Add +2.5% 2.66% −0.11
PFE Pfizer Inc. Add +1.0% 0.96% −0.14
T AT&T Inc. Add +0.9% 1.04% −0.40

Notes & Other Activity Q1 2026 → Q2 2026
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A Add +28.7% 173,571 $4.3M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 86$865.0MJEPQ, OXY, CLMT, SUN, ET
Q1 2026 86$868.1MCLMT, OXY, JEPQ, SUN, ET
Q4 2025 81$748.2MOXY, CLMT, SUN, ET, AAPL
Q3 2025 79$761.2MOXY, CLMT, SUN, ET, AAPL
Q2 2025Amended 78$698.7MOXY, CLMT, SUN, ET, AAPL
Q1 2025 75$714.4MOXY, CLMT, SUN, ET, AAPL
Q4 2024 75$763.5MOXY, CLMT, SUN, ET, AAPL
Q3 2024 73$739.7MOXY, CLMT, SUN, ET, AAPL
Q2 2024 71$745.0MOXY, CLMT, SUN, ET, AAPL
Q1 2024 75$750.4MOXY, CLMT, ET, DMLP, SUN