ADAMS NATURAL RESOURCES FUND, INC.
Filing Date
Global Rank
#2,269
/ 8,603
▲ 376
· as of Mar 2026
Top Industry
Oil & Gas E&P
22.8%
3Y Alpha vs SPY
-8.1%
Period ended 3 months ago
Filed Apr 22, 2026 · 3mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+43.8%
SPY
+76.5%
Annualised alpha
-8.0%
Max drawdown
−21.0%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
53 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
19.8%
+1.0 pts
Top 5
41.5%
+2.0 pts
Top 10
59.3%
+3.9 pts
HHI
646
Diversified+51
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Energy | 77.2% | $496,855,075 |
| Basic Materials | 20.9% | $134,188,316 |
| Consumer Cyclical | 1.9% | $12,050,974 |
| Industrials | 0.0% | $310,496 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
7 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SLB | Slb Limited/Nv | +216,200 | 552,633 | $28,399,809 | |
| DVN | Devon Energy Corp/De | +73,200 | 372,400 | $18,739,168 | |
| HAL | Halliburton Co | +69,700 | 344,853 | $13,445,818 | |
| TRGP | Targa Resources Corp. | +23,100 | 92,500 | $23,192,525 | |
| WMB | Williams Companies, Inc. | +21,900 | 457,450 | $33,293,211 | |
| VLO | Valero Energy Corp/Tx | +7,100 | 95,000 | $23,472,600 | |
| PKG | Packaging Corp Of America | +5,300 | 12,700 | $2,695,194 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
11 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| KMI | Kinder Morgan, Inc. | −255,800 | 433,292 | $14,528,280 | |
| BKR | Baker Hughes Co | −151,000 | 225,900 | $13,791,195 | |
| EQT | EQT Corp | −38,700 | 223,900 | $14,248,996 | |
| OKE | Oneok Inc /New/ | −24,800 | 141,800 | $12,817,302 | |
| OXY | Occidental Petroleum Corp /De/ | −24,700 | 165,951 | $10,786,815 | |
| CVE | Cenovus Energy Inc. | −18,200 | 209,900 | $5,568,647 | |
| FTI | TechnipFMC plc | −14,200 | 48,600 | $3,359,718 | |
| ECL | Ecolab Inc. | −11,000 | 31,400 | $8,353,028 | |
| CVX | Chevron Corp | −9,000 | 614,724 | $127,186,395 | |
| MPC | Marathon Petroleum Corp | −7,600 | 85,012 | $20,758,230 | |
| FANG | Diamondback Energy, Inc. | −5,300 | 74,200 | $14,676,018 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AMCR | Amcor plc | 34,880 | $1,386,480 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| CNQ | CANADIAN NATURAL RESOURCES Ltd | 51,200 | $1,733,120 | |
| No positions match the current search. | ||||
53 positions ·
$643,404,861 total
· as of Mar 31, 2026
Showing 1–50
of 53 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| CVX |
Chevron Corp
Energy
|
Reduced | 614,724 | $127,186,395 | 19.77% | |
| COP |
Conocophillips
Energy
|
Held | 377,203 | $49,790,796 | 7.74% | |
| WMB |
Williams Companies, Inc.
Energy
|
Added | 457,450 | $33,293,211 | 5.17% | |
| SLB |
Slb Limited/Nv
Energy
|
Added | 552,633 | $28,399,809 | 4.41% | |
| PSX |
Phillips 66
Energy
|
Held | 155,475 | $28,324,435 | 4.40% | |
| LIN |
Linde PLC
Basic Materials
|
Held | 53,700 | $26,622,312 | 4.14% | |
| VLO |
Valero Energy Corp/Tx
Energy
|
Added | 95,000 | $23,472,600 | 3.65% | |
| TRGP |
Targa Resources Corp.
Energy
|
Added | 92,500 | $23,192,525 | 3.60% | |
| MPC |
Marathon Petroleum Corp
Energy
|
Reduced | 85,012 | $20,758,230 | 3.23% | |
| EOG |
Eog Resources Inc
Energy
|
Held | 141,367 | $20,437,427 | 3.18% | |
| DVN |
Devon Energy Corp/De
Energy
|
Added | 372,400 | $18,739,168 | 2.91% | |
| FANG |
Diamondback Energy, Inc.
Energy
|
Reduced | 74,200 | $14,676,018 | 2.28% | |
| KMI |
Kinder Morgan, Inc.
Energy
|
Reduced | 433,292 | $14,528,280 | 2.26% | |
| EQT |
EQT Corp
Energy
|
Reduced | 223,900 | $14,248,996 | 2.21% | |
| NEM |
NEWMONT Corp /DE/
Basic Materials
|
Held | 128,400 | $13,899,300 | 2.16% | |
| BKR |
Baker Hughes Co
Energy
|
Reduced | 225,900 | $13,791,195 | 2.14% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Held | 233,200 | $13,707,496 | 2.13% | |
| HAL |
Halliburton Co
Energy
|
Added | 344,853 | $13,445,818 | 2.09% | |
| OKE |
Oneok Inc /New/
Energy
|
Reduced | 141,800 | $12,817,302 | 1.99% | |
| DD |
DuPont de Nemours, Inc.
Basic Materials
|
Held | 78,626 | $10,803,212 | 1.68% | |
| OXY |
Occidental Petroleum Corp /De/
Energy
|
Reduced | 165,951 | $10,786,815 | 1.68% | |
| NUE |
Nucor Corp
Basic Materials
|
Held | 52,000 | $8,793,200 | 1.37% | |
| ECL |
Ecolab Inc.
Basic Materials
|
Reduced | 31,400 | $8,353,028 | 1.30% | |
| SHW |
Sherwin Williams Co
Basic Materials
|
Held | 24,100 | $7,725,255 | 1.20% | |
| VMC |
Vulcan Materials CO
Basic Materials
|
Held | 27,700 | $7,542,710 | 1.17% | |
| CRH |
Crh Public Ltd Co
Basic Materials
|
Held | 64,000 | $6,727,680 | 1.05% | |
| TPL |
Texas Pacific Land Corp
Energy
|
Held | 13,350 | $6,335,376 | 0.98% | |
| CF |
CF Industries Holdings, Inc.
Basic Materials
|
Held | 46,569 | $6,046,518 | 0.94% | |
| CVE |
Cenovus Energy Inc.
Energy
|
Reduced | 209,900 | $5,568,647 | 0.87% | |
| APD |
Air Products & Chemicals, Inc.
Basic Materials
|
Held | 18,100 | $5,257,869 | 0.82% | |
| EXE |
EXPAND ENERGY Corp
Energy
|
Held | 46,400 | $5,093,792 | 0.79% | |
| CTVA |
Corteva, Inc.
Basic Materials
|
Held | 57,945 | $4,850,575 | 0.75% | |
| CTRA |
Coterra Energy Inc.
Energy
|
Held | 120,800 | $4,244,912 | 0.66% | |
| FTI |
TechnipFMC plc
Energy
|
Reduced | 48,600 | $3,359,718 | 0.52% | |
| MLM |
Martin Marietta Materials Inc
Basic Materials
|
Held | 5,400 | $3,178,872 | 0.49% | |
| CCK |
Crown Holdings, Inc.
Consumer Cyclical
|
Held | 29,600 | $2,967,400 | 0.46% | |
| PKG |
Packaging Corp Of America
Consumer Cyclical
|
Added | 12,700 | $2,695,194 | 0.42% | |
| APA |
APA Corp
Energy
|
Held | 56,000 | $2,376,640 | 0.37% | |
| DOW |
Dow Inc.
Basic Materials
|
Held | 52,945 | $2,205,159 | 0.34% | |
| STLD |
Steel Dynamics Inc
Basic Materials
|
Held | 11,026 | $1,984,680 | 0.31% | |
| CCJ |
Cameco Corp
Energy
|
Held | 18,000 | $1,954,980 | 0.30% | |
| PPG |
Ppg Industries Inc
Basic Materials
|
Held | 18,100 | $1,934,528 | 0.30% | |
| SW |
Smurfit Westrock plc
Consumer Cyclical
|
Held | 41,300 | $1,645,805 | 0.26% | |
| IFF |
International Flavors & Fragrances Inc
Basic Materials
|
Held | 20,206 | $1,465,945 | 0.23% | |
| IP |
International Paper Co /New/
Consumer Cyclical
|
Held | 40,900 | $1,460,130 | 0.23% | |
| AMCR |
Amcor plc
Consumer Cyclical
|
NEW | 34,880 | $1,386,480 | 0.22% | |
| ALB |
Albemarle Corp
Basic Materials
|
Held | 7,200 | $1,292,616 | 0.20% | |
| LYB |
LyondellBasell Industries N.V.
Basic Materials
|
Held | 15,600 | $1,256,736 | 0.20% | |
| BALL |
BALL Corp
Consumer Cyclical
|
Held | 16,300 | $963,493 | 0.15% | |
| AVY |
Avery Dennison Corp
Consumer Cyclical
|
Held | 5,400 | $932,472 | 0.14% |