UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended March 31, 2008
Check here if Amendment [ ]; Amendment Number:
This amendment (Check only one.) : [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: The Adams Express Company
Address: 7 St. Paul Street, Suite 1140
Baltimore, MD 21202
Form 13F File Number: 28-597
The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the
report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists,and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Christine M. Sloan
Title: Assistant Treasurer
Phone: (410) 752-5900
Signature, Place, and Date of Signing:
Christine M. Sloan Baltimore, MD April 28, 2008
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported
are in this report, and all holdings are reported by other
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings
for this reporting manager are reported in this report and a portion are
reported by other reporting manager (s).)
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
28
[Repeat as necessary.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 79
Form 13F Information Table Value Total: $ 1,198,648
(in thousands)
List of Other Included Managers:
Provide a numbered list of the name (s) and Form 13F file number(s)
of all institutional investment managers with respect to which this
report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column
headings and
list entries.]
No. Form 13-F File No. Name
28-
[Repeat as necessary.]
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE IN SHARES/PRN OTHER VOTING AUTHORITY
000's AMOUNT MANAGERS
SH/PUT/ INVSTM SOLE SHAREDNONE
PRNCALL DISCRETN
>C>
3M COMPANY COM 88579Y101 12,664 160,000 SH SOLE 160,000
ABBOTT LABS COM 002824100 17,648 320,000 SH SOLE 320,000
AIR PRODUCTS & CHEMICALS COM 009158106 21,160 230,000 SH SOLE 230,000
AMERICAN INT'L GROUP INC COM 026874107 21,625 500,000 SH SOLE 500,000
AQUA AMERICA, INC. COM 03836W103 9,371 499,000 SH SOLE 499,000
AT&T CORP COM 00206R102 15,320 400,000 SH SOLE 400,000
AUTOMATIC DATA PROCESSIN COM 053015103 12,717 300,000 SH SOLE 300,000
AVON PRODUCTS COM 054303102 15,911 402,400 SH SOLE 402,400
BANK OF AMERICA COM 060505104 27,674 730,000 SH SOLE 730,000
BANK OF NEW YORK MELLON COM 064058100 16,850 403,775 SH SOLE 403,775
BJ WHOLESALE CLUB COM 05548J106 14,276 400,000 SH SOLE 400,000
BRISTOL MYERS SQUIBB COM 110122108 7,349 345,000 SH SOLE 345,000
BROADCOM CORP COM 111320107 7,708 400,000 SH SOLE 400,000
BUNGE LTD. COM G16962105 8,688 100,000 SH SOLE 100,000
CINTAS CORP. COM 172908105 8,562 300,000 SH SOLE 300,000
CISCO SYSTEMS COM 17275R102 20,476 850,000 SH SOLE 850,000
COMCAST CORP. CL A 20030N101 10,154 525,000 SH SOLE 525,000
CONOCOPHILLIPS COM 20825C104 22,482 295,000 SH SOLE 295,000
CORNING INC COM 219350105 12,020 500,000 SH SOLE 500,000
CURTISS-WRIGHT CORP COM 231561101 14,933 360,000 SH SOLE 360,000
CVS/CAREMARK CORPORATION COM 126650100 10,127 250,000 SH SOLE 250,000
DEAN FOODS COM 242370104 6,831 340,000 SH SOLE 340,000
DEL MONTE FOODS COM 24522P103 12,389 1,300,000 SH SOLE 1,300,000
DELL INC. COM 24702R101 11,653 585,000 SH SOLE 585,000
DUKE ENERGY CORP. COM 26441C105 10,916 611,560 SH SOLE 611,560
DUPONT EI DE NEMOURS COM 263534109 16,834 360,000 SH SOLE 360,000
EMERSON ELECTRIC COM 291011104 20,584 400,000 SH SOLE 400,000
ENSCO INTERNATIONAL, INC COM 26874Q100 13,097 209,150 SH SOLE 209,150
EXXON MOBIL CORP. COM 30231G102 18,185 215,000 SH SOLE 215,000
FIFTH THIRD BANC COM 316773100 5,858 280,000 SH SOLE 280,000
GANNETT INC. COM 364730101 3,268 112,500 SH SOLE 112,500
GENENTECH, INC COM 368710406 17,860 220,000 SH SOLE 220,000
GENERAL ELECTRIC CO. COM 369604103 51,370 1,388,000 SH SOLE 1,388,000
HARLEY DAVIDSON COM 412822108 4,875 130,000 SH SOLE 130,000
ILLINOIS TOOL WORKS COM 452308109 12,057 250,000 SH SOLE 250,000
INTEL CORP COM 458140100 13,555 640,000 SH SOLE 640,000
JOHNSON & JOHNSON COM 478160104 16,542 255,000 SH SOLE 255,000
LOWE'S COS INC. COM 548661107 13,764 600,000 SH SOLE 600,000
LUBRIZOL CORP COM 549271104 12,212 220,000 SH SOLE 220,000
MARATHON OIL CO. COM 565849106 10,944 240,000 SH SOLE 240,000
MASCO CORP COM 574599106 8,923 450,000 SH SOLE 450,000
MDU RESOURCES GROUP, INC COM 552690109 13,809 562,500 SH SOLE 562,500
MEDTRONIC INC. COM 585055106 14,995 310,000 SH SOLE 310,000
MICROSOFT CORP COM 594918104 33,488 1,180,000 SH SOLE 1,180,000
MORGAN STANLEY CO. COM 617446448 9,140 200,000 SH SOLE 200,000
NEWELL RUBBERMAID INC. COM 651229106 9,148 400,000 SH SOLE 400,000
NORTHEAST UTILITIES COM 664397106 8,589 350,000 SH SOLE 350,000
ORACLE CORP COM 68389X105 21,516 1,100,000 SH SOLE 1,100,000
OSHKOSH CORPORATION COM 688239201 10,703 295,000 SH SOLE 295,000
PEPSI CO. INC. COM 713448108 25,992 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES CO COM 716549100 79,664 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 23,442 1,120,000 SH SOLE 1,120,000
PNC FINANCIAL SERVICES G COM 693475105 13,114 200,000 SH SOLE 200,000
PROCTER & GAMBLE COMPANY COM 742718109 23,824 340,000 SH SOLE 340,000
PROSPERITY BANCSHARES IN COM 743606105 7,165 250,000 SH SOLE 250,000
PRUDENTIAL FINANCIAL INC COM 744320102 13,303 170,000 SH SOLE 170,000
ROHM & HAAS CO. COM 775371107 16,224 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 11,298 343,500 SH SOLE 343,500
SAFEWAY, INC COM 786514208 11,446 390,000 SH SOLE 390,000
SCHLUMBERGER LTD COM 806857108 33,060 380,000 SH SOLE 380,000
SENOMYX INC. COM 81724Q107 5,808 984,400 SH SOLE 984,400
SPECTRA ENERGY CORP. COM 847560109 6,956 305,780 SH SOLE 305,780
SPIRIT AEROSYSTEMS HOLDI COM 848574109 11,645 525,000 SH SOLE 525,000
STATE STREET CORP. COM 857477103 20,540 260,000 SH SOLE 260,000
TARGET CORP. COM 87612E106 14,697 290,000 SH SOLE 290,000
TATA MOTORS LTD. ADR COM 876568502 11,715 750,000 SH SOLE 750,000
TEVA PHARMACEUTICAL INDU COM 881624209 17,090 370,000 SH SOLE 370,000
THE COCA-COLA CO. COM 191216100 12,174 200,000 SH SOLE 200,000
TRANSOCEAN INC COM G90073100 2,704 20,000 SH SOLE 20,000
UNILEVER PLC ADR SPON ADR NEW 904767704 18,546 550,000 SH SOLE 550,000
UNITED PARCEL SERVICES, COM CL B 911312106 11,318 155,000 SH SOLE 155,000
UNITED TECHNOLOGIES COM 913017109 20,646 300,000 SH SOLE 300,000
VISA INC. COM 92826C839 1,247 20,000 SH SOLE 20,000
WACHOVIA CORP. COM 929903102 15,390 570,000 SH SOLE 570,000
WELLS FARGO COMPANY COM 949746101 19,352 665,000 SH SOLE 665,000
WILMINGTON TRUST CORP. COM 971807102 11,289 363,000 SH SOLE 363,000
WINDSTREAM CORP COM 97381W104 3,707 310,178 SH SOLE 310,178
WYETH COMPANY COM 983024100 13,572 325,000 SH SOLE 325,000
ZIMMER HLDGS INC. COM 98956P102 10,900 140,000 SH SOLE 140,000
1,198,648