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, 2010
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:
/s/ Christine M. Sloan Baltimore, MD April 23, 2010
[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 reporting
manager(s).)
[ ] 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).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 78
Form 13F Information Table Value Total: $1,063,171
(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.
NONE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CUSIP VALUE IN SHARES SH/ PUT/ INVST OTHER VOTING
CLASS 000's PRN CALL DISCRETN MANAGERS AUTHORITY
SOLE SHAREDNONE
>C>
ABBOTT LABORATORIES COM 002824100 16,858 320,000 SH SOLE 320,000
APPLE INC. COM 037833100 17,620 75,000 SH SOLE 75,000
AT&T CORP. COM 00206R102 10,336 400,000 SH SOLE 400,000
AUTOMATIC DATA PROCESS COM 053015103 13,341 300,000 SH SOLE 300,000
AVON PRODUCTS, INC. COM 054303102 10,994 324,600 SH SOLE 324,600
BANK OF AMERICA CORP. COM 060505104 21,152 1,185,000 SH SOLE 1,185,000
BANK OF NEW YORK MELLON COM 064058100 12,469 403,775 SH SOLE 403,775
BRISTOL-MYERS SQUIBB COM 110122108 4,247 159,061 SH SOLE 159,061
BROADCOM CORP. COM 111320107 13,272 400,000 SH SOLE 400,000
BUNGE LTD. COM G16962105 9,861 160,000 SH SOLE 160,000
CAPITAL ONE FINANCIAL COM 14040H105 4,141 100,000 SH SOLE 100,000
CHEVRON CORP. COM 166764100 15,166 200,000 SH SOLE 200,000
CINTAS CORP. COM 172908105 8,427 300,000 SH SOLE 300,000
CISCO SYSTEMS, INC. COM 17275R102 22,125 850,000 SH SOLE 850,000
CLIFFS NAT RESOURCES COM 18683K101 7,247 102,140 SH SOLE 102,140
COCA-COLA CO. COM 191216100 13,750 250,000 SH SOLE 250,000
CONSOL ENERGY INC. COM 20854P109 8,532 200,000 SH SOLE 200,000
CURTISS-WRIGHT CORP. COM 231561101 12,528 360,000 SH SOLE 360,000
CVS/CAREMARK CORP. COM 126650100 10,420 285,000 SH SOLE 285,000
DEAN FOODS CO. COM 242370104 6,668 425,000 SH SOLE 425,000
DEL MONTE FOODS CO. COM 24522P103 11,680 800,000 SH SOLE 800,000
DELL INC. COM 24702R101 4,278 285,000 SH SOLE 285,000
EMERSON ELECTRIC CO. COM 291011104 15,102 300,000 SH SOLE 300,000
EXXON MOBIL CORP. COM 30231G102 14,401 215,000 SH SOLE 215,000
FREEPORT-MCMORAN COM 35671D857 9,607 115,000 SH SOLE 115,000
GENERAL ELECTRIC CO. COM 369604103 27,082 1,488,000 SH SOLE 1,488,000
GILEAD SCIENCES INC. COM 375558103 9,096 200,000 SH SOLE 200,000
GOOGLE INC. COM 38259P508 13,608 24,000 SH SOLE 24,000
HALLIBURTON CO. COM 406216101 9,039 300,000 SH SOLE 300,000
HANSEN NATURAL CORP. COM 411310105 11,279 260,000 SH SOLE 260,000
HARSCO CORP. COM 415864107 9,901 310,000 SH SOLE 310,000
HEWLETT-PACKARD CO. COM 428236103 10,629 199,989 SH SOLE 199,989
HOSPIRA INC. COM 441060100 12,746 225,000 SH SOLE 225,000
ILLINOIS TOOL WORKS COM 452308109 11,840 250,000 SH SOLE 250,000
INTEL CORP. COM 458140100 18,698 840,000 SH SOLE 840,000
JOHNSON & JOHNSON COM 478160104 16,626 255,000 SH SOLE 255,000
JPMORGAN CHASE & CO. COM 46625H100 22,822 510,000 SH SOLE 510,000
LOWE'S COMPANIES, INC COM 548661107 14,544 600,000 SH SOLE 600,000
MASCO CORP. COM 574599106 6,984 450,000 SH SOLE 450,000
MCDONALD'S CORP. COM 580135101 16,680 250,000 SH SOLE 250,000
MDU RESOURCES GROUP, COM 552690109 12,139 562,500 SH SOLE 562,500
MEAD JOHNSON NUTRITION COM CL 582839106 6,107 117,383 SH SOLE 117,383
MEDTRONIC, INC. COM 585055106 15,761 350,000 SH SOLE 350,000
MICROSOFT CORP. COM 594918104 34,539 1,180,000 SH SOLE 1,180,000
MORGAN STANLEY COM 617446448 8,787 300,000 SH SOLE 300,000
NEWELL RUBBERMAID INC COM 651229106 6,080 400,000 SH SOLE 400,000
NORFOLK SOUTHERN CORP COM 655844108 5,589 100,000 SH SOLE 100,000
NORTHEAST UTILITIES COM 664397106 9,674 350,000 SH SOLE 350,000
ORACLE CORP. COM 68389X105 28,259 1,100,000 SH SOLE 1,100,000
OSHKOSH CORP. COM 688239201 15,329 380,000 SH SOLE 380,000
PEPSICO, INC. COM 713448108 23,818 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES COM 716549100 52,111 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 17,409 1,015,125 SH SOLE 1,015,125
PNC FINANCIAL SERVICEs COM 693475105 16,119 270,000 SH SOLE 270,000
POTASH CORP SASK INC COM 73755L107 6,445 54,000 SH SOLE 54,000
PRAXAIR, INC. COM 74005P104 9,071 109,292 SH SOLE 109,292
PROCTER & GAMBLE CO. COM 742718109 19,930 315,000 SH SOLE 315,000
PRUDENTIAL FINANCIAL COM 744320102 18,755 310,000 SH SOLE 310,000
QUALCOMM INC. COM 747525103 12,597 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 7,708 343,500 SH SOLE 343,500
SAFEWAY INC. COM 786514208 9,695 390,000 SH SOLE 390,000
SENOMYX, INC. COM 81724Q107 4,206 1,284,400 SH SOLE 1,284,400
SPECTRA ENERGY CORP. COM 847560109 9,142 405,780 SH SOLE 405,780
SPIRIT AEROSYS HLDG COM CL A 848574109 16,834 720,000 SH SOLE 720,000
STATE STREET CORP. COM 857477103 10,382 230,000 SH SOLE 230,000
T. ROWE PRICE GROUP COM 74144T108 10,437 190,000 SH SOLE 190,000
TARGET CORP. COM 87612E106 16,832 320,000 SH SOLE 320,000
TATA MOTORS LTD. ADR COM 876568502 18,460 1,000,000 SH SOLE 1,000,000
TEVA PHARMACEUTICAL COM 881624209 20,816 330,000 SH SOLE 330,000
TRANSOCEAN LTD. REG SHS H8817H100 13,821 160,000 SH SOLE 160,000
UNILEVER PLC ADR SPON ADR NEW 904767704 21,120 721,300 SH SOLE 721,300
UNITED TECHNOLOGIES COM 913017109 22,083 300,000 SH SOLE 300,000
UNITEDHEALTH GROUP COM 91324P102 4,574 140,000 SH SOLE 140,000
VISA INC. COM CL A 92826C839 8,193 90,000 SH SOLE 90,000
WALT DISNEY CO. COM 254687106 16,757 480,000 SH SOLE 480,000
WELLS FARGO & CO. COM 949746101 13,226 425,000 SH SOLE 425,000
WGL HOLDINGS INC. COM 92924F106 5,690 164,225 SH SOLE 164,225
ZIMMER HOLDINGS, INC. COM 98956P102 8,880 150,000 SH SOLE 150,000
1,063,171