ADAMS ASSET ADVISORS, LLC

Filed: 4/12/2023ACC: 0001386929-23-000003

📋 What this filing means

ADAMS ASSET ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 85 equity positions with a total reported market value of $746.90M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$746.90M

Total AUM (reported)

21.38M

Total Shares

Allocation by class

COM$721.55M96.6%

*W EXP 08/03/2027$19.47M2.6%

SHS$2.25M0.3%

COM CL A$1.30M0.2%

COM NEW$1.10M0.1%

CUM CONV PFD A$990.7K0.1%

CL B NEW$229.7K0.0%

Portfolio Concentration

Top 3$341.20M45.7%

4–10$104.56M14.0%

11–25$148.04M19.8%

Rest$153.09M20.5%

Top 3 weight

45.7%

Top 10 weight

59.7%

Voting Authority Distribution

Total shares with voting rights: 21.38M

Sole

Full voting authority

10.06M

% of voting shares47.0%

Shared

Joint voting authority

1.41M

% of voting shares6.6%

None

No voting authority

9.92M

% of voting shares46.4%

Investment Discretion (by position count)

Sole85

Shared0

Other0

Dominant voting typeSole · 47.0% of voting shares

Institutional Holdings85

Rows:

OCCIDENTAL PETROL CORP

SOLE

COM

Shares3.63M

TypeSH

Market value$226.32M

30.30%

Sole

2.09M

Shared

0.00

None

1.53M

CALUMET SPECIALTY PROD

SOLE

COM

Shares5.44M

TypeSH

Market value$94.58M

12.66%

Sole

4.03M

Shared

1.41M

None

0.00

DORCHESTER MINERALS LP

SOLE

COM

Shares670.59K

TypeSH

Market value$20.31M

2.72%

Sole

146.71K

Shared

0.00

None

523.89K

OCCIDENTAL PETE CORP WTS EXP 08/03/2027

SOLE

*W EXP 08/03/2027

Shares474.85K

TypeSH

Market value$19.47M

2.61%

Sole

254.43K

Shared

0.00

None

220.43K

APPLE INC

SOLE

COM

Shares115.60K

TypeSH

Market value$19.06M

2.55%

Sole

6.99K

Shared

0.00

None

108.61K

ENERGY TRANSFER LP

SOLE

COM

Shares1.41M

TypeSH

Market value$17.58M

2.35%

Sole

576.15K

Shared

0.00

None

833.45K

SUNOCO LP

SOLE

COM

Shares300.09K

TypeSH

Market value$13.17M

1.76%

Sole

115.33K

Shared

0.00

None

184.76K

ABBVIE

SOLE

COM

Shares74.87K

TypeSH

Market value$11.93M

1.60%

Sole

12.94K

Shared

0.00

None

61.93K

CHEVRON CORP

SOLE

COM

Shares71.61K

TypeSH

Market value$11.68M

1.56%

Sole

0.00

Shared

0.00

None

71.61K

AT&T

SOLE

COM

Shares606.07K

TypeSH

Market value$11.67M

1.56%

Sole

74.55K

Shared

0.00

None

531.52K

CUMMINS INC

SOLE

COM

Shares48.23K

TypeSH

Market value$11.52M

1.54%

Sole

7.57K

Shared

0.00

None

40.66K

KIMBERLY-CLARK CORP

SOLE

COM

Shares84.29K

TypeSH

Market value$11.31M

1.51%

Sole

12.11K

Shared

0.00

None

72.18K

AMGEN INC

SOLE

COM

Shares46.04K

TypeSH

Market value$11.13M

1.49%

Sole

6.49K

Shared

0.00

None

39.55K

IBM CORP

SOLE

COM

Shares84.35K

TypeSH

Market value$11.06M

1.48%

Sole

12.12K

Shared

0.00

None

72.22K

INTEL CORP

SOLE

COM

Shares321.26K

TypeSH

Market value$10.50M

1.41%

Sole

48.22K

Shared

0.00

None

273.04K

KRAFT HEINZ CO

SOLE

COM

Shares260.93K

TypeSH

Market value$10.09M

1.35%

Sole

35.51K

Shared

0.00

None

225.42K

VALERO ENERGY CORP NEW

SOLE

COM

Shares70.61K

TypeSH

Market value$9.86M

1.32%

Sole

10.68K

Shared

0.00

None

59.93K

ALTRIA GROUP INC

SOLE

COM

Shares220.15K

TypeSH

Market value$9.82M

1.32%

Sole

26.45K

Shared

0.00

None

193.70K

NUSTAR ENERGY LP

SOLE

COM

Shares626.65K

TypeSH

Market value$9.80M

1.31%

Sole

209.61K

Shared

0.00

None

417.03K

UNIVERSAL CORP VA

SOLE

COM

Shares184.85K

TypeSH

Market value$9.78M

1.31%

Sole

26.69K

Shared

0.00

None

158.16K

PLAINS ALL AMERICAN PIPELINE LP

SOLE

COM

Shares746.65K

TypeSH

Market value$9.31M

1.25%

Sole

206.55K

Shared

0.00

None

540.10K

HP INC

SOLE

COM

Shares305.93K

TypeSH

Market value$8.98M

1.20%

Sole

41.28K

Shared

0.00

None

264.65K

CISCO SYSTEMS INC

SOLE

COM

Shares160.57K

TypeSH

Market value$8.39M

1.12%

Sole

30.20K

Shared

0.00

None

130.37K

VERIZON COMMUNICATIONS

SOLE

COM

Shares213.26K

TypeSH

Market value$8.29M

1.11%

Sole

31.39K

Shared

0.00

None

181.87K

PFIZER INC

SOLE

COM

Shares200.90K

TypeSH

Market value$8.20M

1.10%

Sole

25.94K

Shared

0.00

None

174.96K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
OCCIDENTAL PETROL CORPSOLE	COM	3.63M	SH	$226.32M 30.30%	2.09M	0.00	1.53M
CALUMET SPECIALTY PRODSOLE	COM	5.44M	SH	$94.58M 12.66%	4.03M	1.41M	0.00
DORCHESTER MINERALS LPSOLE	COM	670.59K	SH	$20.31M 2.72%	146.71K	0.00	523.89K
OCCIDENTAL PETE CORP WTS EXP 08/03/2027SOLE	*W EXP 08/03/2027	474.85K	SH	$19.47M 2.61%	254.43K	0.00	220.43K
APPLE INCSOLE	COM	115.60K	SH	$19.06M 2.55%	6.99K	0.00	108.61K
ENERGY TRANSFER LPSOLE	COM	1.41M	SH	$17.58M 2.35%	576.15K	0.00	833.45K
SUNOCO LPSOLE	COM	300.09K	SH	$13.17M 1.76%	115.33K	0.00	184.76K
ABBVIESOLE	COM	74.87K	SH	$11.93M 1.60%	12.94K	0.00	61.93K
CHEVRON CORPSOLE	COM	71.61K	SH	$11.68M 1.56%	0.00	0.00	71.61K
AT&TSOLE	COM	606.07K	SH	$11.67M 1.56%	74.55K	0.00	531.52K
CUMMINS INCSOLE	COM	48.23K	SH	$11.52M 1.54%	7.57K	0.00	40.66K
KIMBERLY-CLARK CORPSOLE	COM	84.29K	SH	$11.31M 1.51%	12.11K	0.00	72.18K
AMGEN INCSOLE	COM	46.04K	SH	$11.13M 1.49%	6.49K	0.00	39.55K
IBM CORPSOLE	COM	84.35K	SH	$11.06M 1.48%	12.12K	0.00	72.22K
INTEL CORPSOLE	COM	321.26K	SH	$10.50M 1.41%	48.22K	0.00	273.04K
KRAFT HEINZ COSOLE	COM	260.93K	SH	$10.09M 1.35%	35.51K	0.00	225.42K
VALERO ENERGY CORP NEWSOLE	COM	70.61K	SH	$9.86M 1.32%	10.68K	0.00	59.93K
ALTRIA GROUP INCSOLE	COM	220.15K	SH	$9.82M 1.32%	26.45K	0.00	193.70K
NUSTAR ENERGY LPSOLE	COM	626.65K	SH	$9.80M 1.31%	209.61K	0.00	417.03K
UNIVERSAL CORP VASOLE	COM	184.85K	SH	$9.78M 1.31%	26.69K	0.00	158.16K
PLAINS ALL AMERICAN PIPELINE LPSOLE	COM	746.65K	SH	$9.31M 1.25%	206.55K	0.00	540.10K
HP INCSOLE	COM	305.93K	SH	$8.98M 1.20%	41.28K	0.00	264.65K
CISCO SYSTEMS INCSOLE	COM	160.57K	SH	$8.39M 1.12%	30.20K	0.00	130.37K
VERIZON COMMUNICATIONSSOLE	COM	213.26K	SH	$8.29M 1.11%	31.39K	0.00	181.87K
PFIZER INCSOLE	COM	200.90K	SH	$8.20M 1.10%	25.94K	0.00	174.96K

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