Adams Natural Resources Fund, Inc.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 22, 2026), Adams Natural Resources Fund, Inc. reported 51 stock positions worth $762.9 million. Its top holding was Exxonmobil (XOM) at 24.1% of the portfolio, followed by Chevron (CVX, 12.7%) and Conocophillips (COP, 6.1%). Compared with Q1 2026, it sold out of 3, added to 10 and reduced 18. The biggest buy was Valero Energy (VLO, shares +20%) and the biggest sale Chevron (CVX, shares −5%).

Most Recent 13F
Q2 2026
Location
BALTIMORE, MD
CIK
0000216851
Portfolio Value
$762.9M (Q2 2026)
SEC Filing
0001104659-26-085618 ↗ filed Jul 22, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $709.0M Q1 2024 Q2 2024: $685.3M Q2 2024 Q3 2024: $675.3M Q3 2024 Q4 2024: $632.9M Q4 2024 Q1 2025: $679.8M Q1 2025 Q2 2025: $631.2M Q2 2025 Q3 2025: $659.1M Q3 2025 Q4 2025: $659.4M Q4 2025 Q1 2026: $862.6M Q1 2026 Q2 2026: $762.9M $762.9M Q2 2026

Holdings 51 stocks · $762.9M
XOM Exxonmobil Holdings Corp. 24.13% 1,346,355 $184.1M Add +0.9%
CVX Chevron Corp. 12.75% 586,624 $97.2M Reduce -4.6%
COP Conocophillips 6.05% 444,303 $46.2M Add +17.8%
WMB Williams Cos Inc. 4.14% 425,250 $31.6M Reduce -7.0%
VLO Valero Energy Corp. 3.88% 113,700 $29.6M Add +19.7%
LIN Linde PLC 3.65% 53,700 $27.9M No change
SLB SLB Ltd. filed as SLB LIMITED 3.34% 547,633 $25.5M Reduce -0.9%
TRGP Targa Resources Corp. 3.22% 91,600 $24.6M Reduce -1.0%
PSX Phillips 66 3.13% 141,475 $23.9M Reduce -9.0%
MPC Marathon Petroleum Corp. 2.68% 79,912 $20.4M Reduce -6.0%
EOG EOG Resources Inc. 2.38% 140,067 $18.2M Reduce -0.9%
OXY Occidental Petroleum Corp. 1.95% 306,551 $14.9M Add +84.7%
FANG Diamondback Energy Inc. 1.93% 83,800 $14.7M Add +12.9%
FCX Freeport-McMoran Inc. 1.92% 233,200 $14.7M No change
KMI Kinder Morgan Inc. 1.80% 429,392 $13.7M Reduce -0.9%
BKR Baker Hughes Co. 1.63% 223,800 $12.4M Reduce -0.9%
OKE Oneok Inc. 1.60% 140,500 $12.2M Reduce -0.9%
HAL Halliburton Co. 1.57% 353,053 $12.0M Add +2.4%
SHW The Sherwin-Williams Co. 1.52% 33,700 $11.6M Add +39.8%
NEM Newmont Corp. 1.47% 120,100 $11.2M Reduce -6.5%
DVN Devon Energy Corp. 1.42% 261,760 $10.8M Reduce -29.7%
NUE Nucor Corp. 1.26% 43,100 $9.6M Reduce -17.1%
ECL Ecolab Inc. 1.15% 31,400 $8.7M No change
VMC Vulcan Materials Co. 1.07% 27,700 $8.2M No change
EQT Eqt Corp. 1.07% 153,000 $8.1M Reduce -31.7%
EXE Expand Energy Corp. 1.06% 88,500 $8.1M Add +90.7%
CRH CRH PLC 0.81% 57,400 $6.1M Reduce -10.3%
TPL Texas Pacific Land Corp. 0.77% 13,350 $5.8M No change
APD Air Products & Chemicals Inc. 0.70% 18,100 $5.3M No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.69% 66,506 $5.3M Add +229.1%
CTVA Corteva Inc. 0.64% 57,945 $4.9M No change
CF CF Industries Holdings Inc. 0.61% 42,669 $4.6M Reduce -8.4%
DD Dupont DE Nemours Inc. 0.56% 31,642 $4.3M Add +20.7%
FTI Technipfmc PLC 0.42% 48,600 $3.2M No change
MLM Martin Marietta Materials 0.34% 4,500 $2.6M Reduce -16.7%
STLD Steel Dynamics Inc. 0.33% 11,026 $2.5M No change
PPG PPG Industries Inc. 0.29% 18,100 $2.2M No change
SW Smurfit Westrock PLC 0.25% 41,300 $1.9M No change
CCJ Cameco Corp. 0.24% 18,000 $1.8M No change
APA Apa Corp. 0.24% 56,000 $1.8M No change
IP International Paper Co. 0.20% 40,900 $1.6M No change
AMCR Amcor PLC 0.20% 34,880 $1.5M No change
DOW Dow Inc. filed as DOW HLDGS INC 0.19% 52,945 $1.4M No change
PKG Packaging Corp. of America 0.17% 5,300 $1.3M Reduce -58.3%
BALL Ball Corp. 0.13% 16,300 $1.0M No change
ALB Albemarle Corp. 0.13% 7,200 $972K No change
AVY Avery Dennison Corp. 0.11% 5,400 $877K No change
LYB Lyondellbasell Indu Class A 0.11% 15,600 $821K No change
MOS The Mosaic Co. 0.06% 21,201 $449K No change
EOSE Eos Energy Enterprises Inc. 0.05% 62,600 $368K No change
CHRD Chord Energy Corp. 0.00% 225 $26K No change

Portfolio Sells Q1 2026 → Q2 2026
CVX Chevron Corp. Reduce -4.6% 12.75% −2.00
DVN Devon Energy Corp. Reduce -29.7% 1.42% −0.75
CVE Cenovus Energy Inc. Sold out 0.00% −0.65
EQT Eqt Corp. Reduce -31.7% 1.07% −0.59
CTRA Coterra Energy Inc. Sold out 0.00% −0.49
CCK Crown Holdings Inc. Sold out 0.00% −0.34
PSX Phillips 66 Reduce -9.0% 3.13% −0.15
PKG Packaging Corp. of America Reduce -58.3% 0.17% −0.15
NEM Newmont Corp. Reduce -6.5% 1.47% −0.14
CF CF Industries Holdings Inc. Reduce -8.4% 0.61% −0.10
MLM Martin Marietta Materials Reduce -16.7% 0.34% −0.03
EOG EOG Resources Inc. Reduce -0.9% 2.38% +0.01
CRH CRH PLC Reduce -10.3% 0.81% +0.03
BKR Baker Hughes Co. Reduce -0.9% 1.63% +0.03
SLB SLB Ltd. Reduce -0.9% 3.34% +0.04
KMI Kinder Morgan Inc. Reduce -0.9% 1.80% +0.12
OKE Oneok Inc. Reduce -0.9% 1.60% +0.12
NUE Nucor Corp. Reduce -17.1% 1.26% +0.24
MPC Marathon Petroleum Corp. Reduce -6.0% 2.68% +0.27
WMB Williams Cos Inc. Reduce -7.0% 4.14% +0.28
TRGP Targa Resources Corp. Reduce -1.0% 3.22% +0.53

Portfolio Buys Q1 2026 → Q2 2026
VLO Valero Energy Corp. Add +19.7% 3.88% +1.16
OXY Occidental Petroleum Corp. Add +84.7% 1.95% +0.70
SHW The Sherwin-Williams Co. Add +39.8% 1.52% +0.63
IFF Intl Flavors & Fragrances Add +229.1% 0.69% +0.52
EXE Expand Energy Corp. Add +90.7% 1.06% +0.47
COP Conocophillips Add +17.8% 6.05% +0.28
FANG Diamondback Energy Inc. Add +12.9% 1.93% +0.23
DD Dupont DE Nemours Inc. Add +20.7% 0.56% +0.15
HAL Halliburton Co. Add +2.4% 1.57% +0.01
XOM Exxonmobil Holdings Corp. Add +0.9% 24.13% −2.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 51$762.9MXOM, CVX, COP, WMB, VLO
Q1 2026 54$862.6MXOM, CVX, COP, WMB, SLB
Q4 2025 55$659.4MXOM, CVX, COP, WMB, LIN
Q3 2025 55$659.1MXOM, CVX, COP, LIN, WMB
Q2 2025 54$631.2MXOM, CVX, COP, LIN, EOG
Q1 2025 52$679.8MXOM, CF, COP, ITRI, EOG
Q4 2024 55$632.9MXOM, CVX, COP, LIN, EOG
Q3 2024 56$675.3MXOM, CVX, COP, LIN, EOG
Q2 2024 54$685.3MXOM, CVX, COP, LIN, MPC
Q1 2024 55$709.0MXOM, CVX, COP, MPC, LIN