ADAMS ASSET ADVISORS, LLC

Filed: 7/14/2023ACC: 0001386929-23-000004

📋 What this filing means

ADAMS ASSET ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 82 equity positions with a total reported market value of $685.16M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$685.16M

Total AUM (reported)

20.98M

Total Shares

Allocation by class

COM$660.91M96.5%

*W EXP 08/03/2027$17.72M2.6%

SHS$2.51M0.4%

COM CL A$1.48M0.2%

COM NEW$1.33M0.2%

CUM CONV PFD A$952.3K0.1%

CL B NEW$253.7K0.0%

Portfolio Concentration

Top 3$317.24M46.3%

4–10$98.27M14.3%

11–25$129.92M19.0%

Rest$139.72M20.4%

Top 3 weight

46.3%

Top 10 weight

60.6%

Voting Authority Distribution

Total shares with voting rights: 20.98M

Sole

Full voting authority

10.09M

% of voting shares48.1%

Shared

Joint voting authority

1.41M

% of voting shares6.7%

None

No voting authority

9.48M

% of voting shares45.2%

Investment Discretion (by position count)

Sole82

Shared0

Other0

Dominant voting typeSole · 48.1% of voting shares

Institutional Holdings82

Rows:

OCCIDENTAL PETROL CORP

SOLE

COM

Shares3.62M

TypeSH

Market value$212.57M

31.02%

Sole

2.09M

Shared

0.00

None

1.52M

CALUMET SPECIALTY PROD

SOLE

COM

Shares5.44M

TypeSH

Market value$86.30M

12.60%

Sole

4.03M

Shared

1.41M

None

0.00

DORCHESTER MINERALS LP

SOLE

COM

Shares612.95K

TypeSH

Market value$18.36M

2.68%

Sole

146.71K

Shared

0.00

None

466.25K

APPLE INC

SOLE

COM

Shares94.32K

TypeSH

Market value$18.30M

2.67%

Sole

0.00

Shared

0.00

None

94.32K

ENERGY TRANSFER LP

SOLE

COM

Shares1.41M

TypeSH

Market value$17.90M

2.61%

Sole

576.15K

Shared

0.00

None

833.45K

OCCIDENTAL PETE CORP WTS EXP 08/03/2027

SOLE

*W EXP 08/03/2027

Shares474.85K

TypeSH

Market value$17.72M

2.59%

Sole

254.43K

Shared

0.00

None

220.43K

SUNOCO LP

SOLE

COM

Shares300.09K

TypeSH

Market value$13.07M

1.91%

Sole

115.33K

Shared

0.00

None

184.76K

NUSTAR ENERGY LP

SOLE

COM

Shares626.65K

TypeSH

Market value$10.74M

1.57%

Sole

209.61K

Shared

0.00

None

417.03K

PLAINS ALL AMERICAN PIPELINE LP

SOLE

COM

Shares746.65K

TypeSH

Market value$10.53M

1.54%

Sole

206.55K

Shared

0.00

None

540.10K

CHEVRON CORP

SOLE

COM

Shares63.65K

TypeSH

Market value$10.01M

1.46%

Sole

0.00

Shared

0.00

None

63.65K

IBM CORP

SOLE

COM

Shares74.61K

TypeSH

Market value$9.98M

1.46%

Sole

12.12K

Shared

0.00

None

62.49K

KIMBERLY-CLARK CORP

SOLE

COM

Shares71.21K

TypeSH

Market value$9.83M

1.43%

Sole

12.11K

Shared

0.00

None

59.10K

INTEL CORP

SOLE

COM

Shares281.14K

TypeSH

Market value$9.40M

1.37%

Sole

48.22K

Shared

0.00

None

232.91K

HF SINCLAIR CORP

SOLE

COM

Shares204.19K

TypeSH

Market value$9.11M

1.33%

Sole

20.85K

Shared

0.00

None

183.34K

BANK OF AMERICA

SOLE

COM

Shares313.82K

TypeSH

Market value$9.00M

1.31%

Sole

35.28K

Shared

0.00

None

278.54K

CUMMINS INC

SOLE

COM

Shares36.06K

TypeSH

Market value$8.84M

1.29%

Sole

7.57K

Shared

0.00

None

28.49K

ALTRIA GROUP INC

SOLE

COM

Shares193.64K

TypeSH

Market value$8.77M

1.28%

Sole

26.45K

Shared

0.00

None

167.19K

ABBVIE

SOLE

COM

Shares64.86K

TypeSH

Market value$8.74M

1.28%

Sole

12.94K

Shared

0.00

None

51.92K

AMGEN INC

SOLE

COM

Shares38.40K

TypeSH

Market value$8.52M

1.24%

Sole

4.77K

Shared

0.00

None

33.63K

AT&T

SOLE

COM

Shares532.89K

TypeSH

Market value$8.50M

1.24%

Sole

74.55K

Shared

0.00

None

458.34K

WESTERN MIDSTREAM PARTNERS LP

SOLE

COM

Shares303.88K

TypeSH

Market value$8.06M

1.18%

Sole

40.91K

Shared

0.00

None

262.97K

KRAFT HEINZ CO

SOLE

COM

Shares222.66K

TypeSH

Market value$7.90M

1.15%

Sole

35.51K

Shared

0.00

None

187.14K

UNIVERSAL CORP VA

SOLE

COM

Shares156.06K

TypeSH

Market value$7.79M

1.14%

Sole

26.69K

Shared

0.00

None

129.37K

CISCO SYSTEMS INC

SOLE

COM

Shares149.93K

TypeSH

Market value$7.76M

1.13%

Sole

30.20K

Shared

0.00

None

119.73K

VALERO ENERGY CORP NEW

SOLE

COM

Shares65.67K

TypeSH

Market value$7.70M

1.12%

Sole

10.68K

Shared

0.00

None

54.99K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
OCCIDENTAL PETROL CORPSOLE	COM	3.62M	SH	$212.57M 31.02%	2.09M	0.00	1.52M
CALUMET SPECIALTY PRODSOLE	COM	5.44M	SH	$86.30M 12.60%	4.03M	1.41M	0.00
DORCHESTER MINERALS LPSOLE	COM	612.95K	SH	$18.36M 2.68%	146.71K	0.00	466.25K
APPLE INCSOLE	COM	94.32K	SH	$18.30M 2.67%	0.00	0.00	94.32K
ENERGY TRANSFER LPSOLE	COM	1.41M	SH	$17.90M 2.61%	576.15K	0.00	833.45K
OCCIDENTAL PETE CORP WTS EXP 08/03/2027SOLE	*W EXP 08/03/2027	474.85K	SH	$17.72M 2.59%	254.43K	0.00	220.43K
SUNOCO LPSOLE	COM	300.09K	SH	$13.07M 1.91%	115.33K	0.00	184.76K
NUSTAR ENERGY LPSOLE	COM	626.65K	SH	$10.74M 1.57%	209.61K	0.00	417.03K
PLAINS ALL AMERICAN PIPELINE LPSOLE	COM	746.65K	SH	$10.53M 1.54%	206.55K	0.00	540.10K
CHEVRON CORPSOLE	COM	63.65K	SH	$10.01M 1.46%	0.00	0.00	63.65K
IBM CORPSOLE	COM	74.61K	SH	$9.98M 1.46%	12.12K	0.00	62.49K
KIMBERLY-CLARK CORPSOLE	COM	71.21K	SH	$9.83M 1.43%	12.11K	0.00	59.10K
INTEL CORPSOLE	COM	281.14K	SH	$9.40M 1.37%	48.22K	0.00	232.91K
HF SINCLAIR CORPSOLE	COM	204.19K	SH	$9.11M 1.33%	20.85K	0.00	183.34K
BANK OF AMERICASOLE	COM	313.82K	SH	$9.00M 1.31%	35.28K	0.00	278.54K
CUMMINS INCSOLE	COM	36.06K	SH	$8.84M 1.29%	7.57K	0.00	28.49K
ALTRIA GROUP INCSOLE	COM	193.64K	SH	$8.77M 1.28%	26.45K	0.00	167.19K
ABBVIESOLE	COM	64.86K	SH	$8.74M 1.28%	12.94K	0.00	51.92K
AMGEN INCSOLE	COM	38.40K	SH	$8.52M 1.24%	4.77K	0.00	33.63K
AT&TSOLE	COM	532.89K	SH	$8.50M 1.24%	74.55K	0.00	458.34K
WESTERN MIDSTREAM PARTNERS LPSOLE	COM	303.88K	SH	$8.06M 1.18%	40.91K	0.00	262.97K
KRAFT HEINZ COSOLE	COM	222.66K	SH	$7.90M 1.15%	35.51K	0.00	187.14K
UNIVERSAL CORP VASOLE	COM	156.06K	SH	$7.79M 1.14%	26.69K	0.00	129.37K
CISCO SYSTEMS INCSOLE	COM	149.93K	SH	$7.76M 1.13%	30.20K	0.00	119.73K
VALERO ENERGY CORP NEWSOLE	COM	65.67K	SH	$7.70M 1.12%	10.68K	0.00	54.99K

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