# EDGAR Filing Document

**Accession Number:** 0000216851
**File Stem:** 0001104659-26-046755
**Filing Date:** 2026-4
**Character Count:** 9310
**Document Hash:** eec4b67586c9e97636c4fec69d43303e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-046755.hdr.sgml**: 20260422

**ACCESSION NUMBER**: 0001104659-26-046755

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260422

**DATE AS OF CHANGE**: 20260422

**EFFECTIVENESS DATE**: 20260422

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADAMS NATURAL RESOURCES FUND, INC.
- **CENTRAL INDEX KEY:** 0000216851

**ORGANIZATION NAME:**
- **EIN:** 135506797
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00596
- **FILM NUMBER:** 26883364

**BUSINESS ADDRESS:**
- **STREET 1:** 500 EAST PRATT STREET
- **STREET 2:** SUITE 1300
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 4107525900

**MAIL ADDRESS:**
- **STREET 1:** 500 EAST PRATT STREET
- **STREET 2:** SUITE 1300
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADAMS NATURAL RESOURCES FUND
- **DATE OF NAME CHANGE:** 20150331

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PETROLEUM & RESOURCES CORP
- **DATE OF NAME CHANGE:** 19920703

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** ADAMS NATURAL RESOURCES FUND INC.<br>**Address:** 500 EAST PRATT STREET<br>SUITE 1300<br>BALTIMORE, MD 21202

**Form 13F File Number:** 028-00596

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<br>**Title:** Treasurer<br>**Phone:** 410-752-5900

**Signature, Place, and Date of Signing:**

/s/ Christine M. Sloan  Baltimore, MD  04-22-2026<br>[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 are reported 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:** 54

**Form 13F Information Table Value Total:** $862623328

      (round to nearest dollar)

**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.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Air Products and Chemicals Inc. | COM | 009158106 |  | 5257869 | 18100 | SH |  | SOLE |  | 18100 | 0 | 0 |
| Albemarle Corporation | COM | 012653101 |  | 1292616 | 7200 | SH |  | SOLE |  | 7200 | 0 | 0 |
| Amcor plc | COM | G0250X149 |  | 1386480 | 34880 | SH |  | SOLE |  | 34880 | 0 | 0 |
| APA Corporation | COM | 03743Q108 |  | 2376640 | 56000 | SH |  | SOLE |  | 56000 | 0 | 0 |
| Avery Dennison Corporation | COM | 053611109 |  | 932472 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| Baker Hughes Company | COM | 05722G100 |  | 13791195 | 225900 | SH |  | SOLE |  | 225900 | 0 | 0 |
| Ball Corporation | COM | 058498106 |  | 963493 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| Cameco Corporation | COM | 13321L108 |  | 1954980 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| Cenovus Energy Inc. | COM | 15135U109 |  | 5568647 | 209900 | SH |  | SOLE |  | 209900 | 0 | 0 |
| CF Industries Holdings Inc. | COM | 125269100 |  | 6046519 | 46569 | SH |  | SOLE |  | 46569 | 0 | 0 |
| Chevron Corporation | COM | 166764100 |  | 127186396 | 614724 | SH |  | SOLE |  | 614724 | 0 | 0 |
| Chord Energy Corporation | COM | 674215207 |  | 31991 | 225 | SH |  | SOLE |  | 225 | 0 | 0 |
| ConocoPhillips | COM | 20825C104 |  | 49790796 | 377203 | SH |  | SOLE |  | 377203 | 0 | 0 |
| Corteva Inc. | COM | 22052L104 |  | 4850576 | 57945 | SH |  | SOLE |  | 57945 | 0 | 0 |
| Coterra Energy Inc. | COM | 127097103 |  | 4244912 | 120800 | SH |  | SOLE |  | 120800 | 0 | 0 |
| CRH public limited company | COM | G25508105 |  | 6727680 | 64000 | SH |  | SOLE |  | 64000 | 0 | 0 |
| Crown Holdings Inc. | COM | 228368106 |  | 2967400 | 29600 | SH |  | SOLE |  | 29600 | 0 | 0 |
| Devon Energy Corporation | COM | 25179M103 |  | 18739168 | 372400 | SH |  | SOLE |  | 372400 | 0 | 0 |
| Diamondback Energy Inc. | COM | 25278X109 |  | 14676018 | 74200 | SH |  | SOLE |  | 74200 | 0 | 0 |
| Dow Inc. | COM | 260557103 |  | 2205159 | 52945 | SH |  | SOLE |  | 52945 | 0 | 0 |
| DuPont de Nemours Inc. | COM | 26614N102 |  | 3601071 | 78626 | SH |  | SOLE |  | 78626 | 0 | 0 |
| Ecolab Inc. | COM | 278865100 |  | 8353028 | 31400 | SH |  | SOLE |  | 31400 | 0 | 0 |
| EOG Resources Inc. | COM | 26875P101 |  | 20437427 | 141367 | SH |  | SOLE |  | 141367 | 0 | 0 |
| Eos Energy Enterprises Inc. | COM | 29415C101 |  | 310496 | 62600 | SH |  | SOLE |  | 62600 | 0 | 0 |
| EQT Corporation | COM | 26884L109 |  | 14248996 | 223900 | SH |  | SOLE |  | 223900 | 0 | 0 |
| Expand Energy Corporation | COM | 165167735 |  | 5093792 | 46400 | SH |  | SOLE |  | 46400 | 0 | 0 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 226420601 | 1334555 | SH |  | SOLE |  | 1334555 | 0 | 0 |
| Freeport-McMoRan Inc. | COM | 35671D857 |  | 13707496 | 233200 | SH |  | SOLE |  | 233200 | 0 | 0 |
| Halliburton Company | COM | 406216101 |  | 13445818 | 344853 | SH |  | SOLE |  | 344853 | 0 | 0 |
| International Flavors  Fragrances Inc. | COM | 459506101 |  | 1465945 | 20206 | SH |  | SOLE |  | 20206 | 0 | 0 |
| International Paper Company | COM | 460146103 |  | 1460130 | 40900 | SH |  | SOLE |  | 40900 | 0 | 0 |
| Kinder Morgan Inc. | COM | 49456B101 |  | 14528281 | 433292 | SH |  | SOLE |  | 433292 | 0 | 0 |
| Linde plc | COM | G54950103 |  | 26622312 | 53700 | SH |  | SOLE |  | 53700 | 0 | 0 |
| LyondellBasell Industries N.V. | COM | N53745100 |  | 1256736 | 15600 | SH |  | SOLE |  | 15600 | 0 | 0 |
| Marathon Petroleum Corporation | COM | 56585A102 |  | 20758230 | 85012 | SH |  | SOLE |  | 85012 | 0 | 0 |
| Martin Marietta Materials Inc. | COM | 573284106 |  | 3178872 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| Mosaic Company | COM | 61945C103 |  | 540626 | 21201 | SH |  | SOLE |  | 21201 | 0 | 0 |
| Newmont Corporation | COM | 651639106 |  | 13899300 | 128400 | SH |  | SOLE |  | 128400 | 0 | 0 |
| Nucor Corporation | COM | 670346105 |  | 8793200 | 52000 | SH |  | SOLE |  | 52000 | 0 | 0 |
| Occidental Petroleum Corporation | COM | 674599105 |  | 10786815 | 165951 | SH |  | SOLE |  | 165951 | 0 | 0 |
| ONEOK Inc. | COM | 682680103 |  | 12817302 | 141800 | SH |  | SOLE |  | 141800 | 0 | 0 |
| Packaging Corporation of America | COM | 695156109 |  | 2695194 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| Phillips 66 | COM | 718546104 |  | 28324435 | 155475 | SH |  | SOLE |  | 155475 | 0 | 0 |
| PPG Industries Inc. | COM | 693506107 |  | 1934528 | 18100 | SH |  | SOLE |  | 18100 | 0 | 0 |
| Sherwin-Williams Company | COM | 824348106 |  | 7725255 | 24100 | SH |  | SOLE |  | 24100 | 0 | 0 |
| SLB Ltd. | COM | 806857108 |  | 28399810 | 552633 | SH |  | SOLE |  | 552633 | 0 | 0 |
| Smurfit Westrock plc | COM | G8267P108 |  | 1645805 | 41300 | SH |  | SOLE |  | 41300 | 0 | 0 |
| Steel Dynamics Inc. | COM | 858119100 |  | 1984680 | 11026 | SH |  | SOLE |  | 11026 | 0 | 0 |
| Targa Resources Corp. | COM | 87612G101 |  | 23192525 | 92500 | SH |  | SOLE |  | 92500 | 0 | 0 |
| TechnipFMC plc | COM | G87110105 |  | 3359718 | 48600 | SH |  | SOLE |  | 48600 | 0 | 0 |
| Texas Pacific Land Corporation | COM | 88262P102 |  | 6335376 | 13350 | SH |  | SOLE |  | 13350 | 0 | 0 |
| Valero Energy Corporation | COM | 91913Y100 |  | 23472600 | 95000 | SH |  | SOLE |  | 95000 | 0 | 0 |
| Vulcan Materials Company | COM | 929160109 |  | 7542710 | 27700 | SH |  | SOLE |  | 27700 | 0 | 0 |
| Williams Companies Inc. | COM | 969457100 |  | 33293211 | 457450 | SH |  | SOLE |  | 457450 | 0 | 0 |

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