# ADAMS NATURAL RESOURCES FUND, INC.: Form 13F holdings

An institutional investment manager in BALTIMORE, MD. SEC CIK 216851.

- Quarter ended: 2026-06-30
- Filed: 2026-07-22
- Reported value: $762.9m
- Positions: 51 (51 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/216851/000110465926085618/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [Exxon Mobil Corporation (XOM)](/companies/xom.md) | COM | $184.1m | 24.1% | 1,346,355 |  | New +1,346,355 |
| [Chevron Corporation (CVX)](/companies/cvx.md) | COM | $97.2m | 12.7% | 586,624 |  | Reduced −28,100 |
| [ConocoPhillips (COP)](/companies/cop.md) | COM | $46.2m | 6.1% | 444,303 |  | Added +67,100 |
| [Williams Companies, Inc. (WMB)](/companies/wmb.md) | COM | $31.6m | 4.1% | 425,250 |  | Reduced −32,200 |
| [Valero Energy Corporation (VLO)](/companies/vlo.md) | COM | $29.6m | 3.9% | 113,700 |  | Added +18,700 |
| Linde plc | COM | $27.9m | 3.7% | 53,700 |  | Unchanged |
| [SLB Ltd. (SLB)](/companies/slb.md) | COM | $25.5m | 3.3% | 547,633 |  | Reduced −5,000 |
| [Targa Resources Corp. (TRGP)](/companies/trgp.md) | COM | $24.6m | 3.2% | 91,600 |  | Reduced −900 |
| [Phillips 66 (PSX)](/companies/psx.md) | COM | $23.9m | 3.1% | 141,475 |  | Reduced −14,000 |
| [Marathon Petroleum Corporation (MPC)](/companies/mpc.md) | COM | $20.4m | 2.7% | 79,912 |  | Reduced −5,100 |
| [EOG Resources, Inc. (EOG)](/companies/eog.md) | COM | $18.2m | 2.4% | 140,067 |  | Reduced −1,300 |
| [Occidental Petroleum Corporation (OXY)](/companies/oxy.md) | COM | $14.9m | 2.0% | 306,551 |  | Added +140,600 |
| [Diamondback Energy, Inc. (FANG)](/companies/fang.md) | COM | $14.7m | 1.9% | 83,800 |  | Added +9,600 |
| [Freeport-McMoRan, Inc. (FCX)](/companies/fcx.md) | COM | $14.7m | 1.9% | 233,200 |  | Unchanged |
| [Kinder Morgan, Inc. (KMI)](/companies/kmi.md) | COM | $13.7m | 1.8% | 429,392 |  | Reduced −3,900 |
| [Baker Hughes Company (BKR)](/companies/bkr.md) | COM | $12.4m | 1.6% | 223,800 |  | Reduced −2,100 |
| ONEOK, Inc. | COM | $12.2m | 1.6% | 140,500 |  | Reduced −1,300 |
| [Halliburton Company (HAL)](/companies/hal.md) | COM | $12.0m | 1.6% | 353,053 |  | Added +8,200 |
| [Sherwin-Williams Company (SHW)](/companies/shw.md) | COM | $11.6m | 1.5% | 33,700 |  | Added +9,600 |
| [Newmont Corporation (NEM)](/companies/nem.md) | COM | $11.2m | 1.5% | 120,100 |  | Reduced −8,300 |
| [Devon Energy Corporation (DVN)](/companies/dvn.md) | COM | $10.8m | 1.4% | 261,760 |  | Reduced −110,640 |
| [Nucor Corporation (NUE)](/companies/nue.md) | COM | $9.6m | 1.3% | 43,100 |  | Reduced −8,900 |
| [Ecolab Inc. (ECL)](/companies/ecl.md) | COM | $8.7m | 1.1% | 31,400 |  | Unchanged |
| [Vulcan Materials Company (VMC)](/companies/vmc.md) | COM | $8.2m | 1.1% | 27,700 |  | Unchanged |
| [EQT Corporation (EQT)](/companies/eqt.md) | COM | $8.1m | 1.1% | 153,000 |  | Reduced −70,900 |
| [Expand Energy Corporation (EXE)](/companies/exe.md) | COM | $8.1m | 1.1% | 88,500 |  | Added +42,100 |
| CRH public limited company | COM | $6.1m | 0.8% | 57,400 |  | Reduced −6,600 |
| [Texas Pacific Land Corporation (TPL)](/companies/tpl.md) | COM | $5.8m | 0.8% | 13,350 |  | Unchanged |
| [Air Products and Chemicals, Inc. (APD)](/companies/apd.md) | COM | $5.3m | 0.7% | 18,100 |  | Unchanged |
| [International Flavors & Fragrances Inc. (IFF)](/companies/iff.md) | COM | $5.3m | 0.7% | 66,506 |  | Added +46,300 |
| [Corteva Inc. (CTVA)](/companies/ctva.md) | COM | $4.9m | 0.6% | 57,945 |  | Unchanged |
| [CF Industries Holdings, Inc. (CF)](/companies/cf.md) | COM | $4.6m | 0.6% | 42,669 |  | Reduced −3,900 |
| [DuPont de Nemours, Inc. (DD)](/companies/dd.md) | COM | $4.3m | 0.6% | 31,642 |  | New +31,642 |
| TechnipFMC plc | COM | $3.2m | 0.4% | 48,600 |  | Unchanged |
| [Martin Marietta Materials, Inc. (MLM)](/companies/mlm.md) | COM | $2.6m | 0.3% | 4,500 |  | Reduced −900 |
| [Steel Dynamics, Inc. (STLD)](/companies/stld.md) | COM | $2.5m | 0.3% | 11,026 |  | Unchanged |
| [PPG Industries, Inc. (PPG)](/companies/ppg.md) | COM | $2.2m | 0.3% | 18,100 |  | Unchanged |
| Smurfit Westrock plc | COM | $1.9m | 0.3% | 41,300 |  | Unchanged |
| [Cameco Corporation (CCJ)](/companies/ccj.md) | COM | $1.8m | 0.2% | 18,000 |  | Unchanged |
| [APA Corporation (APA)](/companies/apa.md) | COM | $1.8m | 0.2% | 56,000 |  | Unchanged |
| [International Paper Company (IP)](/companies/ip.md) | COM | $1.6m | 0.2% | 40,900 |  | Unchanged |
| Amcor plc | COM | $1.5m | 0.2% | 34,880 |  | Unchanged |
| [Dow, Inc. (DOW)](/companies/dow.md) | COM | $1.4m | 0.2% | 52,945 |  | Unchanged |
| [Packaging Corporation of America (PKG)](/companies/pkg.md) | COM | $1.3m | 0.2% | 5,300 |  | Reduced −7,400 |
| [Ball Corporation (BALL)](/companies/ball.md) | COM | $1.0m | 0.1% | 16,300 |  | Unchanged |
| [Albemarle Corporation (ALB)](/companies/alb.md) | COM | $972.2k | 0.1% | 7,200 |  | Unchanged |
| [Avery Dennison Corporation (AVY)](/companies/avy.md) | COM | $876.7k | 0.1% | 5,400 |  | Unchanged |
| LyondellBasell Industries N.V. | COM | $821.3k | 0.1% | 15,600 |  | Unchanged |
| [Mosaic Company (MOS)](/companies/mos.md) | COM | $449.2k | <0.1% | 21,201 |  | Unchanged |
| [Eos Energy Enterprises, Inc. (EOSE)](/companies/eose.md) | COM | $368.1k | <0.1% | 62,600 |  | Unchanged |
| [Chord Energy Corporation (CHRD)](/companies/chrd.md) | COM | $25.7k | <0.1% | 225 |  | Unchanged |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| [Cenovus Energy Inc. (CVE)](/companies/cve.md) | COM | $0 | 0.0% | 0 |  | Sold out −209,900 |
| Coterra Energy Inc. | COM | $0 | 0.0% | 0 |  | Sold out −120,800 |
| [Crown Holdings, Inc. (CCK)](/companies/cck.md) | COM | $0 | 0.0% | 0 |  | Sold out −29,600 |
| DuPont de Nemours, Inc. | COM | $0 | 0.0% | 0 |  | Sold out −78,626 |
| Exxon Mobil Corporation | COM | $0 | 0.0% | 0 |  | Sold out −1,334,555 |

Source: SEC EDGAR, Form 13F-HR, accession 0001104659-26-085618. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.