Q2 2026 13F · SEC CIK 216851

Adams Natural Resources Fund, Inc.

Asset managerFiled 2026-07-22 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $762.9M
Reported positions: 51
Top holdings a year, 3 yrs: +11.8%
Average holding period: 4.4 yrs

Adams Natural Resources Fund, Inc. is an asset manager that reported 51 positions worth $762.9M in its Q2 2026 13F, filed 2026-07-22. Its largest holdings were Exxon Mobil Corp (XOM, 24.1%), Chevron Corp New (CVX, 12.7%), Conocophillips (COP, 6.1%). A portfolio copying its top holdings returned 11.8% a year over the last 3 years, against 20.4% for the S&P 500.

Adams Natural Resources Fund, Inc. holdings largest 50 of 51 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Adams Natural Resources Fund, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
XOMExxon Mobil Corp	24.1%	—	1,346,355	—	$184.1M
CVXChevron Corp New	12.7%	14.7%	586,624	-4.6%	$97.2M
COPConocophillips	6.1%	5.8%	444,303	+17.8%	$46.2M
WMBWilliams Companies	4.1%	3.9%	425,250	-7.0%	$31.6M
VLOValero Energy Corp	3.9%	2.7%	113,700	+19.7%	$29.6M
LINLinde PLC	3.7%	3.1%	53,700	+0.0%	$27.9M
SLBSlb Limited	3.3%	3.3%	547,633	-0.9%	$25.5M
TRGPTarga Res Corp	3.2%	2.7%	91,600	-1.0%	$24.6M
PSXPhillips 66	3.1%	3.3%	141,475	-9.0%	$23.9M
MPCMarathon Petroleum Corporation	2.7%	2.4%	79,912	-6.0%	$20.4M
EOGEog Res Inc	2.4%	2.4%	140,067	-0.9%	$18.2M
OXYOccidental Petrol Co	2.0%	1.3%	306,551	+84.7%	$14.9M
FANGDiamondback Energy Inc	1.9%	1.7%	83,800	+12.9%	$14.7M
FCXFreeport Mcmoran Inc Cl B	1.9%	1.6%	233,200	+0.0%	$14.7M
KMIKinder Morgan Inc Del Com	1.8%	1.7%	429,392	-0.9%	$13.7M
BKRBaker Hughes Company Cl A	1.6%	1.6%	223,800	-0.9%	$12.4M
OKEOneok Inc	1.6%	1.5%	140,500	-0.9%	$12.2M
HALHalliburton Co	1.6%	1.6%	353,053	+2.4%	$12.0M
SHWSherwin Williams Co Com	1.5%	0.9%	33,700	+39.8%	$11.6M
NEMNewmont Corp	1.5%	1.6%	120,100	-6.5%	$11.2M
DVNDevon Energy Corp	1.4%	2.2%	261,760	-29.7%	$10.8M
NUENucor Corp	1.3%	1.0%	43,100	-17.1%	$9.6M
ECLEcolab Inc	1.1%	1.0%	31,400	+0.0%	$8.7M
VMCVulcan Matls Co Com	1.1%	0.9%	27,700	+0.0%	$8.2M
EQTEQT Corp	1.1%	1.7%	153,000	-31.7%	$8.1M
EXEExpand Energy Corporation	1.1%	0.6%	88,500	+90.7%	$8.1M
CRHCrh PLC	0.8%	0.8%	57,400	-10.3%	$6.1M
TPLTexas Pacific Land Corporati	0.8%	0.7%	13,350	+0.0%	$5.8M
APDAir Products and Chemicals Inc	0.7%	0.6%	18,100	+0.0%	$5.3M
IFFInternational Flavors&fragra	0.7%	0.2%	66,506	+229.1%	$5.3M
CTVACorteva Inc Com	0.6%	0.6%	57,945	+0.0%	$4.9M
CFCF Industries Holdings Inc	0.6%	0.7%	42,669	-8.4%	$4.6M
DDDupont de Nemours Inc	0.6%	—	31,642	—	$4.3M
FTITechnipfmc PLC	0.4%	0.4%	48,600	+0.0%	$3.2M
MLMMartin Marietta Matls Inc	0.3%	0.4%	4,500	-16.7%	$2.6M
STLDSteel Dynamics, Inc.	0.3%	0.2%	11,026	+0.0%	$2.5M
PPGPpg Inds Inc	0.3%	0.2%	18,100	+0.0%	$2.2M
SWSmurfit Westrock PLC	0.3%	0.2%	41,300	+0.0%	$1.9M
CCJCameco Corp Com	0.2%	0.2%	18,000	+0.0%	$1.8M
APAApa Corporation	0.2%	0.3%	56,000	+0.0%	$1.8M
IPInternational Paper Co	0.2%	0.2%	40,900	+0.0%	$1.6M
AMCRAmcor PLC	0.2%	0.2%	34,880	+0.0%	$1.5M
DOWDow Inc.	0.2%	0.3%	52,945	+0.0%	$1.4M
PKGPackaging Corp Amer	0.2%	0.3%	5,300	-58.3%	$1.3M
BALLBall Corp	0.1%	0.1%	16,300	+0.0%	$1.0M
ALBAlbemarle Corp Com	0.1%	0.1%	7,200	+0.0%	$972K
AVYAvery Dennison Corp	0.1%	—	5,400	—	$877K
LYBLyondellBasell Industries NV	0.1%	0.1%	15,600	+0.0%	$821K
MOSMosaic Co	0.1%	—	21,201	—	$449K
EOSEEos Energy Enterprises Inc	0.0%	—	62,600	—	$368K

What Adams Natural Resources Fund, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

IFF International Flavors&fragra+229.1% shares
EXE Expand Energy Corporation+90.7% shares
OXY Occidental Petrol Co+84.7% shares
SHW Sherwin Williams Co Com+39.8% shares
VLO Valero Energy Corp+19.7% shares
COP Conocophillips+17.8% shares
FANG Diamondback Energy Inc+12.9% shares

Reduced

PKG Packaging Corp Amer-58.3% shares
EQT EQT Corp-31.7% shares
DVN Devon Energy Corp-29.7% shares
NUE Nucor Corp-17.1% shares
MLM Martin Marietta Matls Inc-16.7% shares
CRH Crh PLC-10.3% shares
PSX Phillips 66-9.0% shares
CF CF Industries Holdings Inc-8.4% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +41.8% /yr; S&P 500 +20.1%
3 years: +11.8% /yr; S&P 500 +20.4%
5 years: +18.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$762.9M	51
Q1 2026	$862.6M	54
Q4 2025	$659.4M	55
Q3 2025	$659.1M	55
Q2 2025	$631.2M	54
Q1 2025	$679.8M	52
Q4 2024	$632.9M	55
Q3 2024	$675.3M	56
Q2 2024	$685.3M	54
Q1 2024	$709.0M	55
Q4 2023	$630.5M	55
Q3 2023	$673.0M	57

Questions about Adams Natural Resources Fund, Inc.'s portfolio

What stocks does Adams Natural Resources Fund, Inc. own?

Adams Natural Resources Fund, Inc.'s latest 13F, for Q2 2026 and filed Jul 22, 2026, lists 51 positions worth $762.9M. The largest are Exxon Mobil Corp (XOM) at 24.1%, Chevron Corp New (CVX) at 12.7%, Conocophillips (COP) at 6.1%, Williams Companies (WMB) at 4.1% and Valero Energy Corp (VLO) at 3.9%.

What did Adams Natural Resources Fund, Inc. buy last quarter?

In Q2 2026, Adams Natural Resources Fund, Inc. added International Flavors&fragra (IFF) (+229.1% shares), Expand Energy Corporation (EXE) (+90.7% shares) and Occidental Petrol Co (OXY) (+84.7% shares), compared with its Q1 2026 filing.

What did Adams Natural Resources Fund, Inc. sell last quarter?

In Q2 2026, Adams Natural Resources Fund, Inc. cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Cenovus Energy Inc (CVE), cut from its top 50 Coterra Energy Inc (COG), cut from its top 50 Dupont de Nemours (DD), cut from its top 50 Crown Hldgs Inc (CCK), Packaging Corp Amer (PKG) (-58.3% shares), EQT Corp (EQT) (-31.7% shares) and Devon Energy Corp (DVN) (-29.7% shares), compared with its Q1 2026 filing.

How has Adams Natural Resources Fund, Inc.'s portfolio performed?

A portfolio copying Adams Natural Resources Fund, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +11.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +41.8% against +20.1%. Over 5 years: +18.9% a year against +11.6%.

When is Adams Natural Resources Fund, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Adams Natural Resources Fund, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.