NPORT-EX 2 tm2226972-8_peo-nportex.htm out - none - 65.338s
​
Schedule of Investments
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Common Stocks — 99.2% ​
Energy — 83.0%
 ​
Equipment & Services — 5.2%
 ​
Baker Hughes Company
 ​ ​ ​ ​ 171,900 ​ ​ ​ ​ $ 3,603,024 ​ ​
Halliburton Company
 ​ ​ ​ ​ 407,470 ​ ​ ​ ​ ​ 10,031,911 ​ ​
Schlumberger N.V.
 ​ ​ ​ ​ 423,800 ​ ​ ​ ​ ​ 15,214,420 ​ ​
​ ​ ​ ​ ​ 28,849,355 ​ ​
Exploration & Production — 29.2%
 ​
APA Corporation
 ​ ​ ​ ​ 56,000 ​ ​ ​ ​ ​ 1,914,640 ​ ​
Cheniere Energy, Inc.
 ​ ​ ​ ​ 12,200 ​ ​ ​ ​ ​ 2,024,102 ​ ​
Chord Energy Corporation
 ​ ​ ​ ​ 260 ​ ​ ​ ​ ​ 35,560 ​ ​
Chord Energy Corporation warrants, strike price $166.37, 1 warrant for .5774 share, expires 9/1/24 (b)
 ​ ​ ​ ​ 2,654 ​ ​ ​ ​ ​ 57,061 ​ ​
Chord Energy Corporation warrants, strike price $133.70, 1 warrant for .5774 share, expires 9/1/25 (b)
 ​ ​ ​ ​ 1,327 ​ ​ ​ ​ ​ 27,721 ​ ​
ConocoPhillips
 ​ ​ ​ ​ 488,826 ​ ​ ​ ​ ​ 50,026,453 ​ ​
Coterra Energy Inc.
 ​ ​ ​ ​ 407,900 ​ ​ ​ ​ ​ 10,654,348 ​ ​
Devon Energy Corporation
 ​ ​ ​ ​ 153,700 ​ ​ ​ ​ ​ 9,241,981 ​ ​
Diamondback Energy, Inc.
 ​ ​ ​ ​ 92,100 ​ ​ ​ ​ ​ 11,094,366 ​ ​
EOG Resources, Inc.
 ​ ​ ​ ​ 143,100 ​ ​ ​ ​ ​ 15,988,563 ​ ​
EQT Corporation
 ​ ​ ​ ​ 49,600 ​ ​ ​ ​ ​ 2,021,200 ​ ​
Hess Corporation
 ​ ​ ​ ​ 134,000 ​ ​ ​ ​ ​ 14,604,660 ​ ​
Marathon Oil Corporation
 ​ ​ ​ ​ 127,000 ​ ​ ​ ​ ​ 2,867,660 ​ ​
Occidental Petroleum Corporation
 ​ ​ ​ ​ 327,951 ​ ​ ​ ​ ​ 20,152,589 ​ ​
Pioneer Natural Resources Company
 ​ ​ ​ ​ 96,200 ​ ​ ​ ​ ​ 20,830,186 ​ ​
​ ​ ​ ​ 161,541,090 ​ ​
Integrated Oil & Gas — 36.2%
 ​
Cenovus Energy Inc.
 ​ ​ ​ ​ 176,700 ​ ​ ​ ​ ​ 2,715,879 ​ ​
Chevron Corporation
 ​ ​ ​ ​ 559,291 ​ ​ ​ ​ ​ 80,353,338 ​ ​
Exxon Mobil Corporation
 ​ ​ ​ ​ 1,323,230 ​ ​ ​ ​ ​ 115,531,211 ​ ​
Suncor Energy Inc.
 ​ ​ ​ ​ 46,400 ​ ​ ​ ​ ​ 1,306,160 ​ ​
​ ​ ​ ​ 199,906,588 ​ ​
Refining & Marketing — 8.8%
 ​
Marathon Petroleum Corporation
 ​ ​ ​ ​ 234,085 ​ ​ ​ ​ ​ 23,251,663 ​ ​
Phillips 66
 ​ ​ ​ ​ 106,675 ​ ​ ​ ​ ​ 8,610,806 ​ ​
Valero Energy Corporation
 ​ ​ ​ ​ 156,900 ​ ​ ​ ​ ​ 16,764,765 ​ ​
​ ​ ​ ​ ​ 48,627,234 ​ ​
Storage & Transportation — 3.6%
 ​
Kinder Morgan, Inc.
 ​ ​ ​ ​ 441,100 ​ ​ ​ ​ ​ 7,339,904 ​ ​
ONEOK, Inc.
 ​ ​ ​ ​ 87,500 ​ ​ ​ ​ ​ 4,483,500 ​ ​
Williams Companies, Inc.
 ​ ​ ​ ​ 274,800 ​ ​ ​ ​ ​ 7,867,524 ​ ​
​ ​ ​ ​ ​ 19,690,928 ​ ​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Materials — 16.2%
 ​
Chemicals — 10.7%
 ​
Air Products and Chemicals, Inc.
 ​ ​ ​ ​ 26,800 ​ ​ ​ ​ $ 6,237,164 ​ ​
Albemarle Corporation
 ​ ​ ​ ​ 9,000 ​ ​ ​ ​ ​ 2,379,960 ​ ​
Celanese Corporation
 ​ ​ ​ ​ 26,200 ​ ​ ​ ​ ​ 2,366,908 ​ ​
CF Industries Holdings, Inc.
 ​ ​ ​ ​ 48,400 ​ ​ ​ ​ ​ 4,658,500 ​ ​
Corteva Inc.
 ​ ​ ​ ​ 66,245 ​ ​ ​ ​ ​ 3,785,902 ​ ​
Dow, Inc.
 ​ ​ ​ ​ 65,745 ​ ​ ​ ​ ​ 2,888,178 ​ ​
DuPont de Nemours, Inc.
 ​ ​ ​ ​ 42,087 ​ ​ ​ ​ ​ 2,121,185 ​ ​
Eastman Chemical Company
 ​ ​ ​ ​ 8,900 ​ ​ ​ ​ ​ 632,345 ​ ​
Ecolab Inc.
 ​ ​ ​ ​ 25,600 ​ ​ ​ ​ ​ 3,697,152 ​ ​
FMC Corporation
 ​ ​ ​ ​ 30,100 ​ ​ ​ ​ ​ 3,181,570 ​ ​
International Flavors & Fragrances Inc.
 ​ ​ ​ ​ 21,006 ​ ​ ​ ​ ​ 1,907,975 ​ ​
Linde plc
 ​ ​ ​ ​ 64,700 ​ ​ ​ ​ ​ 17,442,473 ​ ​
LyondellBasell Industries N.V.
 ​ ​ ​ ​ 31,100 ​ ​ ​ ​ ​ 2,341,208 ​ ​
Materials Select Sector SPDR Fund
 ​ ​ ​ ​ 26,200 ​ ​ ​ ​ ​ 1,781,862 ​ ​
Mosaic Company
 ​ ​ ​ ​ 25,601 ​ ​ ​ ​ ​ 1,237,296 ​ ​
PPG Industries, Inc.
 ​ ​ ​ ​ 19,700 ​ ​ ​ ​ ​ 2,180,593 ​ ​
​ ​ ​ ​ ​ 58,840,271 ​ ​
Construction Materials — 1.9%
 ​
Martin Marietta Materials, Inc.
 ​ ​ ​ ​ 4,500 ​ ​ ​ ​ ​ 1,449,405 ​ ​
Sherwin-Williams Company
 ​ ​ ​ ​ 36,400 ​ ​ ​ ​ ​ 7,452,900 ​ ​
Vulcan Materials Company
 ​ ​ ​ ​ 9,800 ​ ​ ​ ​ ​ 1,545,558 ​ ​
​ ​ ​ ​ ​ 10,447,863 ​ ​
Containers & Packaging — 1.1%
 ​
Amcor plc
 ​ ​ ​ ​ 125,100 ​ ​ ​ ​ ​ 1,342,323 ​ ​
Avery Dennison Corporation
 ​ ​ ​ ​ 5,500 ​ ​ ​ ​ ​ 894,850 ​ ​
Ball Corporation
 ​ ​ ​ ​ 29,100 ​ ​ ​ ​ ​ 1,406,112 ​ ​
International Paper Company
 ​ ​ ​ ​ 28,200 ​ ​ ​ ​ ​ 893,940 ​ ​
Packaging Corporation of America
 ​ ​ ​ ​ 7,600 ​ ​ ​ ​ ​ 853,404 ​ ​
Sealed Air Corporation
 ​ ​ ​ ​ 8,900 ​ ​ ​ ​ ​ 396,139 ​ ​
WestRock Company
 ​ ​ ​ ​ 15,400 ​ ​ ​ ​ ​ 475,706 ​ ​
​ ​ ​ ​ ​ 6,262,474 ​ ​
Metals & Mining — 2.5%
 ​
Freeport-McMoRan, Inc.
 ​ ​ ​ ​ 221,100 ​ ​ ​ ​ ​ 6,042,663 ​ ​
Newmont Corporation
 ​ ​ ​ ​ 86,800 ​ ​ ​ ​ ​ 3,648,204 ​ ​
Nucor Corporation
 ​ ​ ​ ​ 21,100 ​ ​ ​ ​ ​ 2,257,489 ​ ​
Steel Dynamics, Inc.
 ​ ​ ​ ​ 28,000 ​ ​ ​ ​ ​ 1,986,600 ​ ​
​ ​ ​ ​ ​ 13,934,956 ​ ​
Total Common Stocks ​
(Cost $468,196,025)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 548,100,759 ​ ​
​
​
Schedule of Investments (continued)
​
September 30, 2022
(unaudited)
​ ​ ​
Shares
 ​ ​
Value (a)
 ​
Short-Term Investments — 1.0% ​
Money Market Funds — 1.0%
 ​
Morgan Stanley Institutional Liquidity Funds Prime Portfolio, 3.03% (c)
 ​ ​ ​ ​ 4,601,200 ​ ​ ​ ​ $ 4,601,200
Northern Institutional Treasury Portfolio, 2.43% (c)
 ​ ​ ​ ​ 866,990 ​ ​ ​ ​ ​ 866,990
Total Short-Term Investments ​
(Cost $5,467,579)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5,468,190
Total — 100.2% of Net Assets ​
(Cost $473,663,604)
 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 553,568,949
Other Assets Less Liabilities — (0.2)% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (904,246) ​ ​
Net Assets — 100.0% ​ ​ ​ ​ ​ ​ ​ ​ ​
$
552,664,703
​
​
(a)
Common stocks and warrants are listed on the New York Stock Exchange or NASDAQ and are valued at the last reported sale price on the day of valuation.
​
(b)
Presently non-dividend paying.
​
(c)
Rate presented is as of period-end and represents the annualized yield earned over the previous seven days.
​
​ ​ ​ ​ ​ ​ ​ ​ ​
Information regarding transactions in equity securities during the quarter can be found on our website at: www.adamsfunds.com.