Q3 2026 13F · SEC CIK 216851

Adams Natural Resources Fund, Inc.

Asset managerFiled 2026-10-21 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $857.4M
Reported positions: 50
Top holdings a year, 3 yrs: +11.8%
Average holding period: 4.6 yrs

Adams Natural Resources Fund, Inc. is an asset manager that reported 50 positions worth $857.4M in its Q3 2026 13F, filed 2026-10-21. Its largest holdings were Exxonmobil Holdings Corp (XOM, 25.3%), Chevron Corporation (CVX, 14.2%), Conocophillips (COP, 6.4%). 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 all 50 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 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	Q2 2026	Shares	Share change	Reported value
XOMExxonmobil Holdings Corp	25.3%	24.1%	1,334,355	-0.9%	$217.2M
CVXChevron Corporation	14.2%	12.7%	594,224	+1.3%	$121.3M
COPConocophillips	6.4%	6.1%	440,303	-0.9%	$55.1M
VLOValero Energy Corp	4.7%	3.9%	104,600	-8.0%	$40.5M
PSXPhillips 66	4.0%	3.1%	134,875	-4.7%	$34.4M
MPCMarathon Petroleum	3.5%	2.7%	75,512	-5.5%	$29.9M
WMBWilliams Cos	3.3%	4.1%	421,450	-0.9%	$28.6M
SLBSlb Limited	3.1%	3.3%	542,733	-0.9%	$26.4M
LINLinde PLC	2.9%	3.7%	53,200	-0.9%	$25.3M
TRGPTarga Res Corp	2.9%	3.2%	90,700	-1.0%	$24.5M
EOGEog Res Inc	2.3%	2.4%	140,067	+0.0%	$19.3M
OXYOccidental Pete Corp	2.0%	2.0%	303,751	-0.9%	$16.8M
FCXFreeport Mcmoran Inc	1.9%	1.9%	231,100	-0.9%	$16.2M
FANGDiamondback Energy Inc	1.8%	1.9%	83,000	-1.0%	$15.3M
NEMNewmont Corp	1.6%	1.5%	119,000	-0.9%	$13.7M
KMIKinder Morgan Inc Del	1.5%	1.8%	429,392	+0.0%	$12.9M
BKRBaker Hughes Company Cl A	1.4%	1.6%	221,800	-0.9%	$12.2M
OKEOneok Inc New	1.4%	—	140,500	—	$12.0M
DVNDevon Energy Corp New	1.4%	1.4%	259,360	-0.9%	$11.9M
APDAir Products and Chemicals I	1.3%	0.7%	41,400	+128.7%	$11.5M
HALHalliburton Co	1.3%	1.6%	349,853	-0.9%	$11.1M
NUENucor Corp	1.2%	1.3%	42,700	-0.9%	$10.0M
VMCVulcan Matls Co	1.0%	1.1%	34,200	+23.5%	$8.4M
EXEExpand Energy Corporation	0.9%	1.1%	88,500	+0.0%	$7.4M
EQTEqt Corp	0.9%	1.1%	153,000	+0.0%	$7.4M
SHWSherwin Williams Co	0.7%	1.5%	19,400	-42.4%	$6.3M
IFFInternational Flavors&fragra	0.7%	0.7%	72,606	+9.2%	$6.1M
ECLEcolab Inc	0.7%	1.1%	21,900	-30.3%	$6.0M
CFCf Industries Hold	0.6%	0.6%	42,669	+0.0%	$4.9M
CRHCrh PLC	0.6%	0.8%	57,400	+0.0%	$4.8M
CTVACorteva Inc	0.5%	0.6%	57,945	+0.0%	$4.5M
TPLTexas Pacific Land Corporati	0.5%	0.8%	13,350	+0.0%	$4.3M
BALLBall Corp	0.5%	0.1%	75,300	+362.0%	$4.2M
LNGCheniere Energy Inc	0.5%	—	15,600	—	$4.2M
FTITechnipfmc PLC	0.4%	0.4%	48,600	+0.0%	$3.3M
STLDSteel Dynamics Inc	0.3%	0.3%	11,026	+0.0%	$2.4M
APAApa Corporation	0.3%	0.2%	56,000	+0.0%	$2.3M
MLMMartin Marietta Matls Inc	0.3%	0.3%	4,500	+0.0%	$2.2M
PPGPpg Inds Inc	0.2%	0.3%	18,100	+0.0%	$1.9M
SWSmurfit Westrock PLC F	0.2%	0.3%	41,300	+0.0%	$1.8M
AMCRAmcor PLC	0.2%	0.2%	34,880	+0.0%	$1.5M
DOWDow Hldgs Inc	0.2%	0.2%	52,945	+0.0%	$1.5M
IPInternational Paper Co	0.2%	0.2%	40,900	+0.0%	$1.4M
PKGPackaging Corp Amer	0.1%	0.2%	5,300	+0.0%	$1.2M
AVYAvery Dennison Corp	0.1%	0.1%	5,400	+0.0%	$922K
LYBLyondellbasell Industries NV	0.1%	0.1%	15,600	+0.0%	$897K
ALBAlbemarle Corp	0.1%	0.1%	7,200	+0.0%	$762K
MOSMosaic Co	0.1%	0.1%	21,201	+0.0%	$459K
EOSEEos Energy Enterprises, Inc.	0.0%	0.0%	62,600	+0.0%	$192K
CHRDChord Energy Corporation	0.0%	—	225	—	$30K

What Adams Natural Resources Fund, Inc. bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

BALL Ball Corp+362.0% shares
APD Air Products and Chemicals I+128.7% shares
VMC Vulcan Matls Co+23.5% shares
IFF International Flavors&fragra+9.2% shares

Reduced

Sold out

OKE Oneok Inc Newwas 1.6%
DD Dupont de Nemours Inc Common Stockwas 0.6%
CCJ Cameco Corpwas 0.2%

Share counts compared with the Q2 2026 13F; a split also changes share counts.

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: +18.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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
Q3 2026	$857.4M	50
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

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 Q3 2026 and filed Oct 21, 2026, lists 50 positions worth $857.4M. The largest are Exxonmobil Holdings Corp (XOM) at 25.3%, Chevron Corporation (CVX) at 14.2%, Conocophillips (COP) at 6.4%, Valero Energy Corp (VLO) at 4.7% and Phillips 66 (PSX) at 4.0%.

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

In Q3 2026, Adams Natural Resources Fund, Inc. added Ball Corp (BALL) (+362.0% shares), Air Products and Chemicals I (APD) (+128.7% shares) and Vulcan Matls Co (VMC) (+23.5% shares), compared with its Q2 2026 filing.

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

In Q3 2026, Adams Natural Resources Fund, Inc. sold all of Oneok Inc New (OKE), sold all of Dupont de Nemours Inc Common Stock (DD), sold all of Cameco Corp (CCJ), Sherwin Williams Co (SHW) (-42.4% shares), Ecolab Inc (ECL) (-30.3% shares) and Valero Energy Corp (VLO) (-8.0% shares), compared with its Q2 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: +18.6% 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 Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.