ADAMS ASSET ADVISORS, LLC

Filed: 1/12/2024ACC: 0001386929-24-000003

📋 What this filing means

ADAMS ASSET ADVISORS, LLC filed this quarterly 13F‑HR report disclosing 75 equity positions with a total reported market value of $743.25M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$743.25M

Total AUM (reported)

21.49M

Total Shares

Allocation by class

COM$719.09M96.7%

*W EXP 08/03/2027$18.24M2.5%

CUM CONV PFD A$2.49M0.3%

SHS$1.80M0.2%

COM NEW$884.8K0.1%

COM CL A$474.4K0.1%

CL B NEW$265.4K0.0%

Portfolio Concentration

Top 3$331.42M44.6%

4–10$112.60M15.1%

11–25$156.95M21.1%

Rest$142.28M19.1%

Top 3 weight

44.6%

Top 10 weight

59.7%

Voting Authority Distribution

Total shares with voting rights: 23.21M

Sole

Full voting authority

8.71M

% of voting shares37.5%

Shared

Joint voting authority

1.73M

% of voting shares7.4%

None

No voting authority

12.78M

% of voting shares55.0%

Investment Discretion (by position count)

Sole75

Shared0

Other0

Dominant voting typeNone · 55.0% of voting shares

Institutional Holdings75

Rows:

OCCIDENTAL PETROL CORP

SOLE

COM

Shares3.58M

TypeSH

Market value$214.00M

28.79%

Sole

1.58M

Shared

0.00

None

CALUMET SPECIALTY PROD

SOLE

COM

Shares5.45M

TypeSH

Market value$97.33M

13.10%

Sole

3.72M

Shared

1.73M

None

1.73M

ENERGY TRANSFER LP

SOLE

COM

Shares1.46M

TypeSH

Market value$20.10M

2.70%

Sole

485.04K

Shared

0.00

None

971.42K

DORCHESTER MINERALS LP

SOLE

COM

Shares628.18K

TypeSH

Market value$20.00M

2.69%

Sole

146.71K

Shared

0.00

None

481.48K

APPLE INC

SOLE

COM

Shares99.11K

TypeSH

Market value$19.08M

2.57%

Sole

0.00

Shared

0.00

None

99.11K

SUNOCO LP

SOLE

COM

Shares313.44K

TypeSH

Market value$18.78M

2.53%

Sole

88K

Shared

0.00

None

225.44K

OCCIDENTAL PETE CORP WTS EXP 08/03/2027

SOLE

*W EXP 08/03/2027

Shares468.58K

TypeSH

Market value$18.24M

2.45%

Sole

254.43K

Shared

0.00

None

214.16K

NUSTAR ENERGY LP

SOLE

COM

Shares675.20K

TypeSH

Market value$12.61M

1.70%

Sole

180K

Shared

0.00

None

495.20K

BANK OF AMERICA

SOLE

COM

Shares354.99K

TypeSH

Market value$11.95M

1.61%

Sole

46.63K

Shared

0.00

None

308.35K

PLAINS ALL AMERICAN PIPELINE LP

SOLE

COM

Shares787.42K

TypeSH

Market value$11.93M

1.61%

Sole

146.46K

Shared

0.00

None

640.96K

VERIZON COMMUNICATIONS

SOLE

COM

Shares312.97K

TypeSH

Market value$11.80M

1.59%

Sole

87.89K

Shared

0.00

None

225.08K

AMGEN INC

SOLE

COM

Shares40.37K

TypeSH

Market value$11.63M

1.56%

Sole

4.77K

Shared

0.00

None

35.60K

HF SINCLAIR CORP

SOLE

COM

Shares202.49K

TypeSH

Market value$11.25M

1.51%

Sole

20.85K

Shared

0.00

None

181.64K

ABBVIE

SOLE

COM

Shares72.17K

TypeSH

Market value$11.18M

1.50%

Sole

12.94K

Shared

0.00

None

59.23K

CHEVRON CORP

SOLE

COM

Shares73.30K

TypeSH

Market value$10.93M

1.47%

Sole

0.00

Shared

0.00

None

73.30K

ALTRIA GROUP INC

SOLE

COM

Shares265.56K

TypeSH

Market value$10.71M

1.44%

Sole

65.16K

Shared

0.00

None

200.40K

AT&T

SOLE

COM

Shares634.50K

TypeSH

Market value$10.65M

1.43%

Sole

186.35K

Shared

0.00

None

448.15K

NEWMONT COPR

SOLE

COM

Shares253.51K

TypeSH

Market value$10.49M

1.41%

Sole

32.98K

Shared

0.00

None

220.52K

BRITISH AMER TOBACCO F SPONSORED ADR

SOLE

COM

Shares348.50K

TypeSH

Market value$10.21M

1.37%

Sole

145.80K

Shared

0.00

None

202.70K

UNIVERSAL CORP VA

SOLE

COM

Shares151.11K

TypeSH

Market value$10.17M

1.37%

Sole

26.69K

Shared

0.00

None

124.42K

CITIGROUP INC

SOLE

COM

Shares191.47K

TypeSH

Market value$9.85M

1.33%

Sole

27.92K

Shared

0.00

None

163.55K

WESTERN MIDSTREAM PARTNERS LP

SOLE

COM

Shares331.38K

TypeSH

Market value$9.70M

1.30%

Sole

40.91K

Shared

0.00

None

290.48K

KIMBERLY-CLARK CORP

SOLE

COM

Shares79.63K

TypeSH

Market value$9.68M

1.30%

Sole

12.11K

Shared

0.00

None

67.52K

VALERO ENERGY CORP NEW

SOLE

COM

Shares72.69K

TypeSH

Market value$9.45M

1.27%

Sole

10.68K

Shared

0.00

None

62.01K

KRAFT HEINZ CO

SOLE

COM

Shares250.07K

TypeSH

Market value$9.25M

1.24%

Sole

35.51K

Shared

0.00

None

214.56K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
OCCIDENTAL PETROL CORPSOLE	COM	3.58M	SH	$214.00M 28.79%	1.58M	0.00	2M
CALUMET SPECIALTY PRODSOLE	COM	5.45M	SH	$97.33M 13.10%	3.72M	1.73M	1.73M
ENERGY TRANSFER LPSOLE	COM	1.46M	SH	$20.10M 2.70%	485.04K	0.00	971.42K
DORCHESTER MINERALS LPSOLE	COM	628.18K	SH	$20.00M 2.69%	146.71K	0.00	481.48K
APPLE INCSOLE	COM	99.11K	SH	$19.08M 2.57%	0.00	0.00	99.11K
SUNOCO LPSOLE	COM	313.44K	SH	$18.78M 2.53%	88K	0.00	225.44K
OCCIDENTAL PETE CORP WTS EXP 08/03/2027SOLE	*W EXP 08/03/2027	468.58K	SH	$18.24M 2.45%	254.43K	0.00	214.16K
NUSTAR ENERGY LPSOLE	COM	675.20K	SH	$12.61M 1.70%	180K	0.00	495.20K
BANK OF AMERICASOLE	COM	354.99K	SH	$11.95M 1.61%	46.63K	0.00	308.35K
PLAINS ALL AMERICAN PIPELINE LPSOLE	COM	787.42K	SH	$11.93M 1.61%	146.46K	0.00	640.96K
VERIZON COMMUNICATIONSSOLE	COM	312.97K	SH	$11.80M 1.59%	87.89K	0.00	225.08K
AMGEN INCSOLE	COM	40.37K	SH	$11.63M 1.56%	4.77K	0.00	35.60K
HF SINCLAIR CORPSOLE	COM	202.49K	SH	$11.25M 1.51%	20.85K	0.00	181.64K
ABBVIESOLE	COM	72.17K	SH	$11.18M 1.50%	12.94K	0.00	59.23K
CHEVRON CORPSOLE	COM	73.30K	SH	$10.93M 1.47%	0.00	0.00	73.30K
ALTRIA GROUP INCSOLE	COM	265.56K	SH	$10.71M 1.44%	65.16K	0.00	200.40K
AT&TSOLE	COM	634.50K	SH	$10.65M 1.43%	186.35K	0.00	448.15K
NEWMONT COPRSOLE	COM	253.51K	SH	$10.49M 1.41%	32.98K	0.00	220.52K
BRITISH AMER TOBACCO F SPONSORED ADRSOLE	COM	348.50K	SH	$10.21M 1.37%	145.80K	0.00	202.70K
UNIVERSAL CORP VASOLE	COM	151.11K	SH	$10.17M 1.37%	26.69K	0.00	124.42K
CITIGROUP INCSOLE	COM	191.47K	SH	$9.85M 1.33%	27.92K	0.00	163.55K
WESTERN MIDSTREAM PARTNERS LPSOLE	COM	331.38K	SH	$9.70M 1.30%	40.91K	0.00	290.48K
KIMBERLY-CLARK CORPSOLE	COM	79.63K	SH	$9.68M 1.30%	12.11K	0.00	67.52K
VALERO ENERGY CORP NEWSOLE	COM	72.69K	SH	$9.45M 1.27%	10.68K	0.00	62.01K
KRAFT HEINZ COSOLE	COM	250.07K	SH	$9.25M 1.24%	35.51K	0.00	214.56K

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