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Adams Natural Resources Fund, Inc. Holdings Report (Q2 2026) — 13F Stock Portfolio
Adams Natural Resources Fund, Inc.CIK: 0000216851
Sector-focusedContrarianQuality / disciplined sizing
Total reported value
$762.9M
Reporting period: 2026-06-30 · Number of holdings: 51
ADAMS NATURAL RESOURCES FUND, INC. disclosed 51 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $762.9M and a quarterly turnover rate of 65.5%.
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Personality snowflake
- Concentration
- 36.4
- Portfolio Stability
- 65.47
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 80.73
Adams Natural Resources Fund, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.091 — mathematically equivalent to about 11 equally-sized positions, well below its 51 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.93), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 10.5 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out XOM
New buy 30233Q108
Trim CVX
-4.6% -$29.9M
Add VLO
+19.7% $6.1M
Trim DVN
-29.7% -$7.9M
Add OXY
+84.7% $4.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Stock-Other | 24.13% | +24.13% | NEW | ||
| 2 | CVX | Chevron CORP | Stock-Energy | 12.75% | -1.99% | -4.57% | |
| 3 | COP | Conocophillips | Stock-Energy | 6.05% | +0.28% | +17.79% | |
| 4 | WMB | Williams Cos Inc | Stock-Energy | 4.14% | +0.28% | -7.04% | |
| 5 | VLO | Valero Energy CORP | Stock-Energy | 3.88% | +1.16% | +19.68% | |
| 6 | LIN | Linde plc | Stock-Materials | 3.65% | +0.56% | — | |
| 7 | SLB | Slb LTD | Stock-Energy | 3.34% | +0.05% | -0.90% | |
| 8 | TRGP | Targa Resources CORP | Stock-Energy | 3.22% | +0.53% | -0.97% | |
| 9 | PSX | Phillips 66 | Stock-Energy | 3.13% | -0.15% | -9.00% | |
| 10 | MPC | Marathon Petroleum CORP | Stock-Energy | 2.68% | +0.27% | -6.00% | |
| 11 | EOG | Eog Resources Inc | Stock-Energy | 2.38% | +0.01% | -0.92% | |
| 12 | OXY | Occidental Petroleum CORP | Stock-Energy | 1.95% | +0.70% | +84.72% | |
| 13 | FANG | Diamondback Energy Inc | Stock-Energy | 1.93% | +0.23% | +12.94% | |
| 14 | FCX | Freeport-mcmoran Inc | Stock-Materials | 1.92% | +0.33% | — | |
| 15 | KMI | Kinder Morgan, Inc. | Stock-Energy | 1.80% | +0.12% | -0.90% | |
| 16 | BKR | Baker Hughes Co | Stock-Energy | 1.63% | +0.03% | -0.93% | |
| 17 | OKE | Oneok Inc | Stock-Energy | 1.60% | +0.11% | -0.92% | |
| 18 | HAL | Halliburton Co | Stock-Energy | 1.57% | +0.01% | +2.38% | |
| 19 | SHW | Sherwin-williams Co/the | Stock-Materials | 1.52% | +0.62% | +39.83% | |
| 20 | NEM | Newmont CORP | Stock-Materials | 1.47% | -0.14% | -6.46% | |
| 21 | DVN | Devon Energy CORP | Stock-Energy | 1.42% | -0.75% | -29.71% | |
| 22 | NUE | Nucor CORP | Stock-Materials | 1.26% | +0.24% | -17.12% | |
| 23 | ECL | Ecolab Inc | Stock-Materials | 1.15% | +0.18% | — | |
| 24 | VMC | Vulcan Materials Co | Stock-Materials | 1.07% | +0.20% | — | |
| 25 | EQT | Eqt CORP | Stock-Energy | 1.07% | -0.58% | -31.67% | |
| 26 | EXE | Expand Energy CORP | Stock-Energy | 1.06% | +0.47% | +90.73% | |
| 27 | CRH | CRH plc | Stock-Materials | 0.81% | +0.02% | -10.31% | |
| 28 | TPL | Texas Pacific Land CORP | Stock-Energy | 0.77% | +0.04% | — | |
| 29 | APD | Air Products & Chemicals Inc | Stock-Materials | 0.70% | +0.09% | — | |
| 30 | IFF | Intl Flavors & Fragrances | Stock-Materials | 0.69% | +0.52% | +229.14% | |
| 31 | CTVA | Corteva Inc | Stock-Materials | 0.64% | +0.08% | — | |
| 32 | CF | Cf Industries Holdings Inc | Stock-Materials | 0.61% | -0.09% | -8.37% | |
| 33 | ✓ | Stock-Other | 0.56% | +0.56% | NEW | ||
| 34 | FTI | TechnipFMC plc | Stock-Energy | 0.42% | +0.03% | — | |
| 35 | MLM | Martin Marietta Materials | Stock-Materials | 0.34% | -0.03% | -16.67% | |
| 36 | STLD | Steel Dynamics Inc | Stock-Materials | 0.33% | +0.10% | — | |
| 37 | PPG | Ppg Industries Inc | Stock-Materials | 0.29% | +0.07% | — | |
| 38 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 0.25% | +0.06% | — | |
| 39 | CCJ | Cameco CORP | Stock-Energy | 0.24% | +0.01% | — | |
| 40 | APA | Apa CORP | Stock-Energy | 0.24% | -0.04% | — | |
| 41 | IP | International Paper Co | Stock-Consumer Disc | 0.20% | +0.03% | — | |
| 42 | AMCR | Amcor plc | Stock-Consumer Disc | 0.20% | +0.04% | — | |
| 43 | DOW | Dow Inc | Stock-Materials | 0.19% | -0.07% | — | |
| 44 | PKG | Packaging CORP Of America | Stock-Consumer Disc | 0.17% | -0.14% | -58.27% | |
| 45 | BALL | Ball CORP | Stock-Consumer Disc | 0.13% | +0.02% | — | |
| 46 | ALB | Albemarle CORP | Stock-Materials | 0.13% | -0.02% | — | |
| 47 | AVY | Avery Dennison CORP | Stock-Consumer Disc | 0.11% | — | — | |
| 48 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 0.11% | -0.04% | — | |
| 49 | MOS | Mosaic Co/the | Stock-Materials | 0.06% | — | — | |
| 50 | EOSE | Eos Energy Enterprises Inc | Stock-Other | 0.05% | +0.01% | — |
1–50 of 51
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+11%
Performance Last 4 Quarters
+37.8%
- Stdev
- +17.6%
- Beta
- +0.06
- Alpha
- +14%
- Max Drawdown
- -12.8%
- Annualized Perf
- +14.5%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.51
- Stutzer
- +0.25
- Treynor
- +2.72
- Sterling
- +0.74
- Calmar
- +1.13
- Information Ratio
- -0.23
- Tracking Error
- +21.4%
- Stdev Down
- +10%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +43.7%
- Worst 12 Months
- -9.8%
- Efficiency Ratio
- +0.36
- Sharpe
- +0.86
- Stdev Sectors
- +31.4%
- Skewness
- +0.03
- Kurtosis
- +0.54
- Upside Potential
- +3.07
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 51 | $762.9M | 65 | ||
| 2026 Q1 | 54 | $862.6M | 31 | ||
| 2025 Q4 | 55 | $659.4M | 16 | ||
| 2025 Q3 | 55 | $659.1M | 85 | ||
| 2025 Q2 | 54 | $631.2M | 0 | ||
| 2025 Q1 | 52 | $679.8M | 100 | ||
| 2024 Q4 | 55 | $632.9M | 0 | ||
| 2024 Q3 | 56 | $675.3M | 0 | ||
| 2024 Q2 | 54 | $685.3M | 0 | ||
| 2024 Q1 | 55 | $709.0M | 0 | ||
| 2023 Q4 | 55 | $630.5M | 0 | ||
| 2023 Q3 | 57 | $673.0M | 0 | ||
| 2023 Q2 | 56 | $616.3M | 0 | ||
| 2023 Q1 | 55 | $622.2M | 0 | ||
| 2022 Q4 | 55 | $647.4M | 0 | ||
| 2022 Q3 | 56 | $548.0M | 0 | ||
| 2022 Q2 | 54 | $545.7M | 0 | ||
| 2022 Q1 | 58 | $593.0M | 0 | ||
| 2021 Q4 | 56 | $467.1M | 0 | ||
| 2021 Q3 | 53 | $431.7M | 0 | ||
| 2021 Q2 | 56 | $443.3M | 96 | ||
| 2021 Q1 | 54 | $406.0M | 29 | ||
| 2020 Q4 | 57 | $330.4M | 25 | ||
| 2020 Q3 | 57 | $274.3M | 37 | ||
| 2020 Q2 | 56 | $384.1M | 27 | ||
| 2020 Q1 | 57 | $298.4M | 63 | ||
| 2019 Q4 | 57 | $558.2M | 22 | ||
| 2019 Q3 | 62 | $552.7M | 16 | ||
| 2019 Q2 | 63 | $583.5M | 28 | ||
| 2019 Q1 | 57 | $590.2M | 17 | ||
| 2018 Q4 | 58 | $520.3M | 40 | ||
| 2018 Q3 | 60 | $683.2M | 30 | ||
| 2018 Q2 | 53 | $682.7M | 26 | ||
| 2018 Q1 | 53 | $620.5M | 23 | ||
| 2017 Q4 | 46 | $667.7M | 16 | ||
| 2017 Q3 | 45 | $646.6M | 31 | ||
| 2017 Q2 | 45 | $609.3M | 15 | ||
| 2017 Q1 | 43 | $653.3M | 16 | ||
| 2016 Q4 | 46 | $671.7M | 21 | ||
| 2016 Q3 | 40 | $636.1M | 0 | ||
| 2016 Q2 | 40 | $636.1M | 20 | ||
| 2016 Q1 | 39 | $591.7M | 12 | ||
| 2015 Q4 | 37 | $576.9M | 19 | ||
| 2015 Q3 | 35 | $581.8M | 24 | ||
| 2015 Q2 | 35 | $713.4M | 11 | ||
| 2015 Q1 | 37 | $726.6M | 13 | ||
| 2014 Q4 | 39 | $754.0M | 24 | ||
| 2014 Q3 | 40 | $894.2M | 15 | ||
| 2014 Q2 | 39 | $967.7M | 14 | ||
| 2014 Q1 | 38 | $874.4M | 20 | ||
| 2013 Q4 | 43 | $864.2M | 12 | ||
| 2013 Q3 | 44 | $827.0M | 16 | ||
| 2013 Q2 | 46 | $765.4M | 0 |
Holding changes this quarter
Adams Natural Resources Fund, Inc.'s most significant position changes for 2026-06-30: Sold out: Exxon Mobil CORP (XOM); New buy: ; Sold out: Cenovus Energy Inc (CVE); New buy: ; Sold out: Coterra Energy Inc (CTRA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +24.1% | NEW | New buy | |
| 2 | VLO | Valero Energy CORP | +1.2% | +19.68% | Add |
| 3 | OXY | Occidental Petroleum CORP | +0.7% | +84.72% | Add |
| 4 | SHW | Sherwin-williams Co/the | +0.6% | +39.83% | Add |
| 5 | ✓ | +0.6% | NEW | New buy | |
| 6 | LIN | Linde plc | +0.6% | — | Unchanged |
| 7 | TRGP | Targa Resources CORP | +0.5% | -0.97% | Trim |
| 8 | IFF | Intl Flavors & Fragrances | +0.5% | +229.14% | Add |
| 9 | EXE | Expand Energy CORP | +0.5% | +90.73% | Add |
| 10 | FCX | Freeport-mcmoran Inc | +0.3% | — | Unchanged |
| 11 | COP | Conocophillips | +0.3% | +17.79% | Add |
| 12 | WMB | Williams Cos Inc | +0.3% | -7.04% | Trim |
| 13 | MPC | Marathon Petroleum CORP | +0.3% | -6.00% | Trim |
| 14 | NUE | Nucor CORP | +0.2% | -17.12% | Trim |
| 15 | FANG | Diamondback Energy Inc | +0.2% | +12.94% | Add |
| 16 | VMC | Vulcan Materials Co | +0.2% | — | Unchanged |
| 17 | ECL | Ecolab Inc | +0.2% | — | Unchanged |
| 18 | KMI | Kinder Morgan, Inc. | +0.1% | -0.90% | Trim |
| 19 | OKE | Oneok Inc | +0.1% | -0.92% | Trim |
| 20 | STLD | Steel Dynamics Inc | +0.1% | — | Unchanged |
| 21 | APD | Air Products & Chemicals Inc | +0.1% | — | Unchanged |
| 22 | CTVA | Corteva Inc | +0.1% | — | Unchanged |
| 23 | PPG | Ppg Industries Inc | +0.1% | — | Unchanged |
| 24 | SW | Smurfit Westrock Plc | +0.1% | — | Unchanged |
| 25 | SLB | Slb LTD | +0.1% | -0.90% | Trim |
| 26 | TPL | Texas Pacific Land CORP | 0% | — | Unchanged |
| 27 | AMCR | Amcor plc | 0% | — | Unchanged |
| 28 | BKR | Baker Hughes Co | 0% | -0.93% | Trim |
| 29 | FTI | TechnipFMC plc | 0% | — | Unchanged |
| 30 | IP | International Paper Co | 0% | — | Unchanged |
| 31 | CRH | CRH plc | 0% | -10.31% | Trim |
| 32 | BALL | Ball CORP | 0% | — | Unchanged |
| 33 | EOG | Eog Resources Inc | 0% | -0.92% | Trim |
| 34 | HAL | Halliburton Co | 0% | +2.38% | Add |
| 35 | CCJ | Cameco CORP | 0% | — | Unchanged |
| 36 | EOSE | Eos Energy Enterprises Inc | 0% | — | Unchanged |
| 37 | MOS | Mosaic Co/the | — | — | Unchanged |
| 38 | AVY | Avery Dennison CORP | — | — | Unchanged |
| 39 | CHRD | Chord Energy CORP | — | — | Unchanged |
| 40 | ALB | Albemarle CORP | 0% | — | Unchanged |
| 41 | MLM | Martin Marietta Materials | 0% | -16.67% | Trim |
| 42 | APA | Apa CORP | 0% | — | Unchanged |
| 43 | LYB | LyondellBasell Industries N.V. | 0% | — | Unchanged |
| 44 | DOW | Dow Inc | -0.1% | — | Unchanged |
| 45 | CF | Cf Industries Holdings Inc | -0.1% | -8.37% | Trim |
| 46 | NEM | Newmont CORP | -0.1% | -6.46% | Trim |
| 47 | PKG | Packaging CORP Of America | -0.1% | -58.27% | Trim |
| 48 | PSX | Phillips 66 | -0.2% | -9.00% | Trim |
| 49 | CCK | Crown Holdings Inc | -0.3% | EXIT | Sold out |
| 50 | 6D8 | Dupont De Nemours Inc | -0.4% | EXIT | Sold out |
1–50 of 56
Filing History
FAQ
What is Adams Natural Resources Fund, Inc. and what type of investor is it?
Adams Natural Resources Fund, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $762.9M, spread across 51 disclosed positions.
What are Adams Natural Resources Fund, Inc.'s largest equity positions?
Based on the latest 13F filing, Adams Natural Resources Fund, Inc.'s top holdings by market value are:
1. — $184.1M (24.1%)
2. Chevron CORP (CVX) — $97.2M (12.8%)
3. Conocophillips (COP) — $46.2M (6.0%)
4. Williams Cos Inc (WMB) — $31.6M (4.1%)
5. Valero Energy CORP (VLO) — $29.6M (3.9%)
What changes did Adams Natural Resources Fund, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Adams Natural Resources Fund, Inc. made 33 notable position adjustments: 2 new positions were initiated, 8 existing holdings were added to, 18 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); New buy: ; Sold out: Cenovus Energy Inc (CVE); New buy: ; Sold out: Coterra Energy Inc (CTRA)
What sectors does Adams Natural Resources Fund, Inc. focus on?
Adams Natural Resources Fund, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 76.1%
• Materials: 22.5%
• Consumer Discretionary: 1.4%
Investment Profile
Adams Natural Resources Fund, Inc. returned an annualized 14.5% over the trailing 36 months — outperforming the S&P 500 by 14.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.06 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 76.1% of the portfolio concentrated in Energy.
Its turnover score has risen from 0 to 65 over the past 4 quarters — a shift toward more active trading.
It has added to its VLO position over the past two quarters (+$15.3M, now $29.6M), while trimming KMI over the same stretch (-$5.2M, still holding $13.7M).
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EI
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UC
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Developer Access
Access Adams Natural Resources Fund, Inc.'s institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/adams-natural-resources-fund-incCLI
npx alphasmo institutions get adams-natural-resources-fund-inc