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ADAMS NATURAL RESOURCES FUND, INC.

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13F filer, CIK 216851, BALTIMORE, MD

ADAMS NATURAL RESOURCES FUND, INC. reported $631,171,356 across 54 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-07-30. Its ten largest share positions make up 63.36% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-072135

Period
2025-06-30
Reported value
$631M
Holdings
54
Top 10 weight
63.36%
New
5
Sold out
3

Part of the filer group ADAMS DIVERSIFIED EQUITY FUND, INC.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CVXadded+510,546$73.1M
WMBadded+338,050$21.2M
KMIadded+615,592$18.1M
HESS CORPadded+114,383$15.8M
MPCadded+83,111$13.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TPLreduced-72,850-$77M
MLMreduced-123,000-$67.5M
CFreduced-475,002-$43.7M
ITRIexited-64,400-$30M
IPreduced-595,292-$27.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001104659-25-072135, largest first. % of portfolio is the value over $631,171,356, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,489,955 shares; 2024Q4: 1,433,955 shares; 2025Q1: 1,353,755 shares; 2025Q2: 1,337,255 shares 1,337,255$144M22.84%-16,500Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 518,071 shares; 2024Q4: 510,171 shares; 2025Q1: 225 shares; 2025Q2: 510,771 shares 510,771$73.1M11.59%+510,546Timeline
COPCONOCOPHILLIPSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 349,576 shares; 2024Q4: 408,703 shares; 2025Q1: 389,103 shares; 2025Q2: 374,903 shares 374,903$33.6M5.33%-14,200Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,600 shares; 2024Q4: 69,400 shares; 2025Q1: 105,612 shares; 2025Q2: 63,600 shares 63,600$29.8M4.73%-42,012Timeline
EOGEOG RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 217,667 shares; 2024Q4: 217,667 shares; 2025Q1: 202,067 shares; 2025Q2: 199,067 shares 199,067$23.8M3.77%-3,000Timeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 445,350 shares; 2024Q4: 365,350 shares; 2025Q1: 27,300 shares; 2025Q2: 365,350 shares 365,350$22.9M3.64%+338,050Timeline
KMIKINDER MORGAN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 445,392 shares; 2024Q4: 445,392 shares; 2025Q1: 20,600 shares; 2025Q2: 636,192 shares 636,192$18.7M2.96%+615,592Timeline
HESS CORPHESS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,189 shares; 2024Q4: 138,189 shares; 2025Q1: 20,206 shares; 2025Q2: 134,589 shares 134,589$18.6M2.95%+114,383
PSXPHILLIPS 66Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 98,575 shares; 2024Q4: 138,175 shares; 2025Q1: 373,733 shares; 2025Q2: 148,175 shares 148,175$17.7M2.8%-225,558Timeline
MPCMARATHON PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,312 shares; 2024Q4: 108,812 shares; 2025Q1: 21,201 shares; 2025Q2: 104,312 shares 104,312$17.3M2.75%+83,111Timeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 58,900 shares; 2024Q4: 83,300 shares; 2025Q1: 5,450 shares; 2025Q2: 83,300 shares 83,300$14.5M2.3%+77,850Timeline
BKRBAKER HUGHES COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 398,800 shares; 2024Q4: 428,100 shares; 2025Q1: 418,100 shares; 2025Q2: 376,900 shares 376,900$14.5M2.29%-41,200Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,800 shares; 2024Q4: 187,800 shares; 2025Q1: 134,575 shares; 2025Q2: 174,000 shares 174,000$14.2M2.25%+39,425Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,200 shares; 2024Q4: 23,000 shares; 2025Q1: 12,526 shares; 2025Q2: 38,300 shares 38,300$13.2M2.08%+25,774Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,500 shares; 2024Q4: 65,100 shares; 2025Q1: 110,100 shares; 2025Q2: 108,700 shares 108,700$12.7M2.01%-1,400Timeline
SLBSLB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 377,933 shares; 2024Q4: 377,933 shares; 2025Q1: 41,300 shares; 2025Q2: 369,233 shares 369,233$12.5M1.98%+327,933Timeline
ECLECOLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,400 shares; 2024Q4: 48,400 shares; 2025Q1: 48,400 shares; 2025Q2: 45,000 shares 45,000$12.1M1.92%-3,400Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 254,400 shares; 2024Q4: 259,400 shares; 2025Q1: 175,353 shares; 2025Q2: 248,400 shares 248,400$10.8M1.71%+73,047Timeline
VLOVALERO ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,100 shares; 2024Q4: 81,200 shares; 2025Q1: not reported; 2025Q2: 78,300 shares 78,300$10.5M1.67%newTimeline
DVNDEVON ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 126,200 shares; 2024Q4: 126,200 shares; 2025Q1: 124,800 shares; 2025Q2: 302,800 shares 302,800$9.63M1.53%+178,000Timeline
NEMNEWMONT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,100 shares; 2024Q4: 153,100 shares; 2025Q1: 148,351 shares; 2025Q2: 126,800 shares 126,800$7.39M1.17%-21,551Timeline
VMCVULCAN MATLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,400 shares; 2024Q4: 25,400 shares; 2025Q1: not reported; 2025Q2: 26,900 shares 26,900$7.02M1.11%newTimeline
CTVACORTEVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 91,945 shares; 2024Q4: 91,945 shares; 2025Q1: 91,945 shares; 2025Q2: 91,945 shares 91,945$6.85M1.09%0Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,600 shares; 2024Q4: 89,300 shares; 2025Q1: 113,300 shares; 2025Q2: 111,900 shares 111,900$6.53M1.03%-1,400Timeline
CTRACOTERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,900 shares; 2024Q4: 125,900 shares; 2025Q1: 361,300 shares; 2025Q2: 233,900 shares 233,900$5.94M0.94%-127,400Timeline
APDAIR PRODUCTS AND CHEMICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,800 shares; 2024Q4: 21,500 shares; 2025Q1: 21,200 shares; 2025Q2: 20,900 shares 20,900$5.9M0.93%-300Timeline
TPLTEXAS PACIFIC LAND CORPORATIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,550 shares; 2025Q1: 78,300 shares; 2025Q2: 5,450 shares 5,450$5.76M0.91%-72,850Timeline
OXYOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,051 shares; 2024Q4: 150,051 shares; 2025Q1: 7,400 shares; 2025Q2: 128,951 shares 128,951$5.42M0.86%+121,551Timeline
FANGDIAMONDBACK ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,900 shares; 2024Q4: 79,400 shares; 2025Q1: 55,200 shares; 2025Q2: 35,900 shares 35,900$4.93M0.78%-19,300Timeline
CFCF INDUSTRIES HOLDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,369 shares; 2024Q4: 29,369 shares; 2025Q1: 526,571 shares; 2025Q2: 51,569 shares 51,569$4.74M0.75%-475,002Timeline
DDDUPONT DE NEMOURS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,526 shares; 2024Q4: 36,926 shares; 2025Q1: 36,926 shares; 2025Q2: 56,726 shares 56,726$3.89M0.62%+19,800Timeline
HALHALLIBURTON COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 177,353 shares; 2024Q4: 177,353 shares; 2025Q1: 136,589 shares; 2025Q2: 175,353 shares 175,353$3.57M0.57%+38,764Timeline
CCKCROWN HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 42,200 shares; 2025Q1: 42,200 shares; 2025Q2: 32,400 shares 32,400$3.34M0.53%-9,800Timeline
LNGCHENIERE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,300 shares 13,300$3.24M0.51%newTimeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 97,000 shares 97,000$3.05M0.48%newTimeline
MLMMARTIN MARIETTA MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,900 shares; 2024Q4: 5,400 shares; 2025Q1: 128,400 shares; 2025Q2: 5,400 shares 5,400$2.96M0.47%-123,000Timeline
NUENUCOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,600 shares; 2024Q4: 22,600 shares; 2025Q1: 178,000 shares; 2025Q2: 22,600 shares 22,600$2.93M0.46%-155,400Timeline
EMNEASTMAN CHEM COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,800 shares; 2024Q4: 52,800 shares; 2025Q1: 40,900 shares; 2025Q2: 33,100 shares 33,100$2.47M0.39%-7,800Timeline
FTITECHNIPFMC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,600 shares; 2024Q4: 109,500 shares; 2025Q1: 365,350 shares; 2025Q2: 62,800 shares 62,800$2.16M0.34%-302,550Timeline
PPGPPG INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,100 shares; 2024Q4: 18,100 shares; 2025Q1: 38,800 shares; 2025Q2: 18,100 shares 18,100$2.06M0.33%-20,700Timeline
IPINTERNATIONAL PAPER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,500 shares; 2024Q4: 21,500 shares; 2025Q1: 636,192 shares; 2025Q2: 40,900 shares 40,900$1.92M0.3%-595,292Timeline
SWSMURFIT WESTROCK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,300 shares; 2024Q4: 41,300 shares; 2025Q1: 83,300 shares; 2025Q2: 41,300 shares 41,300$1.78M0.28%-42,000Timeline
DOWDOW HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,945 shares; 2024Q4: 63,945 shares; 2025Q1: 63,945 shares; 2025Q2: 63,945 shares 63,945$1.69M0.27%0Timeline
STLDSTEEL DYNAMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,526 shares; 2024Q4: 12,526 shares; 2025Q1: 62,800 shares; 2025Q2: 12,526 shares 12,526$1.6M0.25%-50,274Timeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,606 shares; 2024Q4: 56,606 shares; 2025Q1: 40,900 shares; 2025Q2: 20,206 shares 20,206$1.49M0.24%-20,694Timeline
PKGPACKAGING CORP AMERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,900 shares; 2024Q4: 7,400 shares; 2025Q1: 18,100 shares; 2025Q2: 7,400 shares 7,400$1.39M0.22%-10,700Timeline
BALLBALL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,300 shares; 2024Q4: 23,300 shares; 2025Q1: 23,300 shares; 2025Q2: 23,300 shares 23,300$1.31M0.21%0Timeline
LYBLYONDELLBASELL INDUSTRIES NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,600 shares; 2024Q4: 20,600 shares; 2025Q1: 5,400 shares; 2025Q2: 20,600 shares 20,600$1.19M0.19%+15,200Timeline
AVYAVERY DENNISON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,300 shares; 2024Q4: 6,300 shares; 2025Q1: 6,300 shares; 2025Q2: 6,300 shares 6,300$1.11M0.18%0Timeline
APAAPA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 56,000 shares; 2024Q4: 56,000 shares; 2025Q1: 56,000 shares; 2025Q2: 56,000 shares 56,000$1.02M0.16%0Timeline
AMCOR PLCAMCOR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,400 shares; 2024Q4: 92,400 shares; 2025Q1: 92,400 shares; 2025Q2: 92,400 shares 92,400$849K0.13%0
MOSMOSAIC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,201 shares; 2024Q4: 21,201 shares; 2025Q1: 22,600 shares; 2025Q2: 21,201 shares 21,201$773K0.12%-1,399Timeline
ALBALBEMARLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,200 shares; 2024Q4: 7,200 shares; 2025Q1: 7,200 shares; 2025Q2: 7,200 shares 7,200$451K0.07%0Timeline
CHRDCHORD ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225 shares; 2024Q4: 225 shares; 2025Q1: not reported; 2025Q2: 225 shares 225$21.8K<0.01%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ITRIITRON INC64,400$30Mshares
FMCFMC CORP224,300$8.49Mshares
CECELANESE CORP DEL52,269$4.08Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-25-072135 base2025-07-30acceptance time not in the bulk data set