UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 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 February 11, 2011
[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: $1,080,018 (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 CUSIP VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
OF CLASS (x $1000) PRN AMT PRN CALL DISCRETN MANAGER SOLE SHARED NONE
ABBOTT LABORATORIES COM 002824100 14,852 310,000 SH SOLE 310,000
ADTRAN, INC. COM 00738A106 3,197 88,300 SH SOLE 88,300
AMERICAN EXPRESS CO. COM 025816109 15,022 350,000 SH SOLE 350,000
APPLE INC. COM 037833100 27,418 85,000 SH SOLE 85,000
AUTOMATIC DATA PROCESSING INC. COM 053015103 13,884 300,000 SH SOLE 300,000
AVON PRODUCTS, INC. COM 054303102 8,852 304,600 SH SOLE 304,600
BANK OF AMERICA CORP. COM 060505104 18,476 1,385,000 SH SOLE 1,385,000
BANK OF NEW YORK MELLON CORP. COM 064058100 12,194 403,775 SH SOLE 403,775
BRISTOL-MYERS SQUIBB CO. COM 110122108 4,212 159,061 SH SOLE 159,061
BROADCOM CORP. COM 111320107 8,710 200,000 SH SOLE 200,000
BUNGE LTD. COM G16962105 11,794 180,000 SH SOLE 180,000
CATERPILLAR INC DEL COM 149123101 13,112 140,000 SH SOLE 140,000
CF INDUSTRIES HOLDINGS, INC. COM 125269100 901 6,666 SH SOLE 6,666
CHEVRON CORP. COM 166764100 18,250 200,000 SH SOLE 200,000
CINTAS CORP. COM 172908105 8,388 300,000 SH SOLE 300,000
CISCO SYSTEMS, INC. COM 17275R102 17,195 850,000 SH SOLE 850,000
CLIFFS NATURAL RESOURCES INC. COM 18683K101 9,361 120,000 SH SOLE 120,000
COCA-COLA CO. COM 191216100 14,798 225,000 SH SOLE 225,000
COLUMBIA SPORTSWEAR CO. COM 198516106 12,060 200,000 SH SOLE 200,000
CONSOL ENERGY INC. COM 20854P109 3,592 73,700 SH SOLE 73,700
CURTISS-WRIGHT CORP. COM 231561101 11,952 360,000 SH SOLE 360,000
CVS/CAREMARK CORP. COM 126650100 10,257 295,000 SH SOLE 295,000
DEL MONTE FOODS CO. COM 24522P103 13,348 710,000 SH SOLE 710,000
DOW CHEMICAL CO. COM 260543103 13,656 400,000 SH SOLE 400,000
EMERSON ELECTRIC CO. COM 291011104 17,151 300,000 SH SOLE 300,000
EXXON MOBIL CORP. COM 30231G102 15,721 215,000 SH SOLE 215,000
FEDEX CORP. COM 31304N107 10,696 115,000 SH SOLE 115,000
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 14,591 121,500 SH SOLE 121,500
GENERAL ELECTRIC CO. COM 369604103 19,351 1,058,000 SH SOLE 1,058,000
GILEAD SCIENCES INC. COM 375558103 9,060 250,000 SH SOLE 250,000
GOOGLE INC. COM 38259P508 17,819 30,000 SH SOLE 30,000
HALLIBURTON CO. COM 406216101 6,124 150,000 SH SOLE 150,000
HEWLETT-PACKARD CO. COM 428236103 12,630 300,000 SH SOLE 300,000
HOSPIRA INC. COM 441060100 9,746 175,000 SH SOLE 175,000
ILLINOIS TOOL WORKS INC. COM 452308109 9,078 170,000 SH SOLE 170,000
INTEL CORP. COM 458140100 17,665 840,000 SH SOLE 840,000
JOHNSON & JOHNSON COM 478160104 15,772 255,000 SH SOLE 255,000
JPMORGAN CHASE & CO. COM 46625H100 23,755 560,000 SH SOLE 560,000
LIFE TECHNOLOGIES CORP. COM 53217V109 11,100 200,000 SH SOLE 200,000
LOWE'S COMPANIES, INC. COM 548661107 15,048 600,000 SH SOLE 600,000
MASCO CORP. COM 574599106 5,697 450,000 SH SOLE 450,000
MCDONALD'S CORP. COM 580135101 19,190 250,000 SH SOLE 250,000
MDU RESOURCES GROUP, INC. COM 552690109 11,402 562,500 SH SOLE 562,500
MEAD JOHNSON NUTRITION CO. COM 582839106 7,307 117,383 SH SOLE 117,383
MEDTRONIC, INC. COM 585055106 12,981 350,000 SH SOLE 350,000
MICROSOFT CORP. COM 594918104 32,946 1,180,000 SH SOLE 1,180,000
MORGAN STANLEY COM 617446448 10,884 400,000 SH SOLE 400,000
NETAPP, INC. COM 64110D104 1,924 35,000 SH SOLE 35,000
NEWELL RUBBERMAID INC. COM 651229106 7,272 400,000 SH SOLE 400,000
NORFOLK SOUTHERN CORP. COM 655844108 12,564 200,000 SH SOLE 200,000
NORTHEAST UTILITIES COM 664397106 11,158 350,000 SH SOLE 350,000
ORACLE CORP. COM 68389X105 34,430 1,100,000 SH SOLE 1,100,000
OSHKOSH CORP. COM 688239201 13,391 380,000 SH SOLE 380,000
PEPSICO, INC. COM 713448108 23,519 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES COM 716549100 59,065 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 17,775 1,015,125 SH SOLE 1,015,125
PNC FINANCIAL SERVICES GROUP, COM 693475105 16,394 270,000 SH SOLE 270,000
POTASH CORP OF SASKATCHEWAN COM 73755L107 8,756 56,550 SH SOLE 56,550
PRAXAIR, INC. COM 74005P104 10,434 109,292 SH SOLE 109,292
PROCTER & GAMBLE CO. COM 742718109 20,264 315,000 SH SOLE 315,000
PRUDENTIAL FINANCIAL, INC. COM 744320102 18,200 310,000 SH SOLE 310,000
QUALCOMM INC. COM 747525103 14,847 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 5,850 343,500 SH SOLE 343,500
SAFEWAY INC. COM 786514208 8,771 390,000 SH SOLE 390,000
SENOMYX, INC. COM 81724Q107 9,158 1,284,400 SH SOLE 1,284,400
SPECTRA ENERGY CORP. COM 847560109 10,140 405,780 SH SOLE 405,780
SPIRIT AEROSYSTEMS HOLDINGS, COM CL A 848574109 10,405 500,000 SH SOLE 500,000
STATE STREET CORP. COM 857477103 8,944 193,000 SH SOLE 193,000
T. ROWE PRICE GROUP INC. COM 74144T108 12,908 200,000 SH SOLE 200,000
TARGET CORP. COM 87612E106 19,242 320,000 SH SOLE 320,000
TEVA PHARMACEUTICAL INDUSTRIES COM 881624209 17,203 330,000 SH SOLE 330,000
TRANSOCEAN LTD. REG SHS H8817H100 9,384 135,000 SH SOLE 135,000
UNILEVER PLC ADR SPON ADR NEW 904767704 18,015 583,400 SH SOLE 583,400
UNITED TECHNOLOGIES CORP. COM 913017109 15,744 200,000 SH SOLE 200,000
UNITEDHEALTH GROUP INC. COM 91324P102 10,739 297,400 SH SOLE 297,400
WALT DISNEY CO. COM 254687106 18,005 480,000 SH SOLE 480,000
WELLS FARGO & CO. COM 949746101 16,270 525,000 SH SOLE 525,000
ZIMMER HOLDINGS, INC. COM 98956P102 8,052 150,000 SH SOLE 150,000
1,080,018