# EDGAR Filing Document

**Accession Number:** 0000002230
**File Stem:** 0001104659-23-010345
**Filing Date:** 2023-2
**Character Count:** 13465
**Document Hash:** c8536a2eda245dd3efe36f6c967e7c99
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-010345.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001104659-23-010345

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**EFFECTIVENESS DATE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADAMS DIVERSIFIED EQUITY FUND, INC.
- **CENTRAL INDEX KEY:** 0000002230
- **IRS NUMBER:** 134912740
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00597
- **FILM NUMBER:** 23584801

**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 DIVERSIFIED EQUITY FUND
- **DATE OF NAME CHANGE:** 20150331

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADAMS EXPRESS CO
- **DATE OF NAME CHANGE:** 19920703

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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 DIVERSIFIED EQUITY FUND INC.<br>**Address:** 500 East Pratt Street<br>Suite 1300<br>Baltimore, MD 21202

**Form 13F File Number:** 028-00597

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

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

/s/ Christine M. Sloan  Baltimore, MD  02-03-2023<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:** 93

**Form 13F Information Table Value Total:** $2085687105

      (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 |
| AbbVie Inc. | COM | 00287Y109 |  | 20896173 | 129300 | SH |  | SOLE |  | 129300 | 0 | 0 |
| Adams Natural Resources Fund Inc. | COM | 00548F105 |  | 47671673 | 2186774 | SH |  | SOLE |  | 2186774 | 0 | 0 |
| Advanced Micro Devices Inc. | COM | 007903107 |  | 6885051 | 106300 | SH |  | SOLE |  | 106300 | 0 | 0 |
| Air Products and Chemicals Inc. | COM | 009158106 |  | 6874198 | 22300 | SH |  | SOLE |  | 22300 | 0 | 0 |
| Alphabet Inc. Class A | COM | 02079K305 |  | 65016687 | 736900 | SH |  | SOLE |  | 736900 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 |  | 45200400 | 538100 | SH |  | SOLE |  | 538100 | 0 | 0 |
| American International Group Inc. | COM | 026874784 |  | 31215264 | 493600 | SH |  | SOLE |  | 493600 | 0 | 0 |
| AmerisourceBergen Corporation | COM | 03073E105 |  | 25999899 | 156900 | SH |  | SOLE |  | 156900 | 0 | 0 |
| Apple Inc. | COM | 037833100 |  | 124018185 | 954500 | SH |  | SOLE |  | 954500 | 0 | 0 |
| Archer-Daniels-Midland Company | COM | 039483102 |  | 12432615 | 133900 | SH |  | SOLE |  | 133900 | 0 | 0 |
| Arista Networks Inc. | COM | 040413106 |  | 18105420 | 149200 | SH |  | SOLE |  | 149200 | 0 | 0 |
| Automatic Data Processing Inc. | COM | 053015103 |  | 22739472 | 95200 | SH |  | SOLE |  | 95200 | 0 | 0 |
| Bank of America Corp. | COM | 060505104 |  | 30351168 | 916400 | SH |  | SOLE |  | 916400 | 0 | 0 |
| Berkshire Hathaway Inc. Class B | COM | 084670702 |  | 36388420 | 117800 | SH |  | SOLE |  | 117800 | 0 | 0 |
| Boeing Company | COM | 097023105 |  | 15105857 | 79300 | SH |  | SOLE |  | 79300 | 0 | 0 |
| Booking Holdings Inc. | COM | 09857L108 |  | 16525296 | 8200 | SH |  | SOLE |  | 8200 | 0 | 0 |
| Capri Holdings Limited | COM | G1890L107 |  | 16089724 | 280700 | SH |  | SOLE |  | 280700 | 0 | 0 |
| CenterPoint Energy Inc. | COM | 15189T107 |  | 13813394 | 460600 | SH |  | SOLE |  | 460600 | 0 | 0 |
| Charles Schwab Corp. | COM | 808513105 |  | 30489812 | 366200 | SH |  | SOLE |  | 366200 | 0 | 0 |
| Cisco Systems Inc. | COM | 17275R102 |  | 12953316 | 271900 | SH |  | SOLE |  | 271900 | 0 | 0 |
| CMS Energy Corporation | COM | 125896100 |  | 15376524 | 242800 | SH |  | SOLE |  | 242800 | 0 | 0 |
| Coca-Cola Company | COM | 191216100 |  | 10540177 | 165700 | SH |  | SOLE |  | 165700 | 0 | 0 |
| Comcast Corporation Class A | COM | 20030N101 |  | 18639010 | 533000 | SH |  | SOLE |  | 533000 | 0 | 0 |
| ConocoPhillips | COM | 20825C104 |  | 25405400 | 215300 | SH |  | SOLE |  | 215300 | 0 | 0 |
| Constellation Brands Inc. Class A | COM | 21036P108 |  | 16361550 | 70600 | SH |  | SOLE |  | 70600 | 0 | 0 |
| Consumer Staples Select Sector SPDR Fund | COM | 81369Y308 |  | 6195105 | 83100 | SH |  | SOLE |  | 83100 | 0 | 0 |
| Costco Wholesale Corporation | COM | 22160K105 |  | 13238500 | 29000 | SH |  | SOLE |  | 29000 | 0 | 0 |
| CVS Health Corporation | COM | 126650100 |  | 35878150 | 385000 | SH |  | SOLE |  | 385000 | 0 | 0 |
| Electronic Arts Inc. | COM | 285512109 |  | 21638078 | 177100 | SH |  | SOLE |  | 177100 | 0 | 0 |
| Eli Lilly and Company | COM | 532457108 |  | 19462688 | 53200 | SH |  | SOLE |  | 53200 | 0 | 0 |
| FMC Corporation | COM | 302491303 |  | 9397440 | 75300 | SH |  | SOLE |  | 75300 | 0 | 0 |
| General Dynamics Corporation | COM | 369550108 |  | 27242478 | 109800 | SH |  | SOLE |  | 109800 | 0 | 0 |
| Health Care Select Sector SPDR Fund | COM | 81369Y209 |  | 10446865 | 76900 | SH |  | SOLE |  | 76900 | 0 | 0 |
| Home Depot Inc. | COM | 437076102 |  | 18319880 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| Incyte Corporation | COM | 45337C102 |  | 24441376 | 304300 | SH |  | SOLE |  | 304300 | 0 | 0 |
| Ingersoll-Rand Plc | COM | 45687V106 |  | 15826525 | 302900 | SH |  | SOLE |  | 302900 | 0 | 0 |
| Intuit Inc. | COM | 461202103 |  | 18526872 | 47600 | SH |  | SOLE |  | 47600 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 21515970 | 121800 | SH |  | SOLE |  | 121800 | 0 | 0 |
| JPMorgan Chase  Co. | COM | 46625H100 |  | 33241647 | 247887 | SH |  | SOLE |  | 247887 | 0 | 0 |
| Lam Research Corporation | COM | 512807108 |  | 20552670 | 48900 | SH |  | SOLE |  | 48900 | 0 | 0 |
| Las Vegas Sands Corp. | COM | 517834107 |  | 12036728 | 250400 | SH |  | SOLE |  | 250400 | 0 | 0 |
| Lincoln Electric Holdings Inc. | COM | 533900106 |  | 14301620 | 98980 | SH |  | SOLE |  | 98980 | 0 | 0 |
| Linde plc | COM | G5494J103 |  | 15232606 | 46700 | SH |  | SOLE |  | 46700 | 0 | 0 |
| LyondellBasell Industries N.V. | COM | N53745100 |  | 3478957 | 41900 | SH |  | SOLE |  | 41900 | 0 | 0 |
| Marathon Petroleum Corporation | COM | 56585A102 |  | 21764930 | 187000 | SH |  | SOLE |  | 187000 | 0 | 0 |
| MarketAxess Holdings Inc. | COM | 57060D108 |  | 11094523 | 39781 | SH |  | SOLE |  | 39781 | 0 | 0 |
| Marriott International Inc. Class A | COM | 571903202 |  | 14114772 | 94800 | SH |  | SOLE |  | 94800 | 0 | 0 |
| Mastercard Incorporated Class A | COM | 57636Q104 |  | 42736017 | 122900 | SH |  | SOLE |  | 122900 | 0 | 0 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 9319800 | 84000 | SH |  | SOLE |  | 84000 | 0 | 0 |
| Meta Platforms Inc. Class A | COM | 30303M102 |  | 17028110 | 141500 | SH |  | SOLE |  | 141500 | 0 | 0 |
| Microsoft Corporation | COM | 594918104 |  | 142860774 | 595700 | SH |  | SOLE |  | 595700 | 0 | 0 |
| Molina Healthcare Inc. | COM | 60855R100 |  | 24073038 | 72900 | SH |  | SOLE |  | 72900 | 0 | 0 |
| Molson Coors Beverage Company Class B | COM | 60871R209 |  | 14842912 | 288100 | SH |  | SOLE |  | 288100 | 0 | 0 |
| Morgan Stanley | COM | 617446448 |  | 22264102 | 261869 | SH |  | SOLE |  | 261869 | 0 | 0 |
| Northrop Grumman Corporation | COM | 666807102 |  | 25207182 | 46200 | SH |  | SOLE |  | 46200 | 0 | 0 |
| NVIDIA Corporation | COM | 67066G104 |  | 24317696 | 166400 | SH |  | SOLE |  | 166400 | 0 | 0 |
| Oracle Corporation | COM | 68389X105 |  | 8942356 | 109400 | SH |  | SOLE |  | 109400 | 0 | 0 |
| O'Reilly Automotive Inc. | COM | 67103H107 |  | 20763138 | 24600 | SH |  | SOLE |  | 24600 | 0 | 0 |
| Palo Alto Networks Inc. | COM | 697435105 |  | 12977220 | 93000 | SH |  | SOLE |  | 93000 | 0 | 0 |
| Parker-Hannifin Corporation | COM | 701094104 |  | 23978400 | 82400 | SH |  | SOLE |  | 82400 | 0 | 0 |
| Paycom Software Inc. | COM | 70432V102 |  | 13715702 | 44200 | SH |  | SOLE |  | 44200 | 0 | 0 |
| PepsiCo Inc. | COM | 713448108 |  | 14236008 | 78800 | SH |  | SOLE |  | 78800 | 0 | 0 |
| Pfizer Inc. | COM | 717081103 |  | 19148388 | 373700 | SH |  | SOLE |  | 373700 | 0 | 0 |
| Philip Morris International Inc. | COM | 718172109 |  | 20707566 | 204600 | SH |  | SOLE |  | 204600 | 0 | 0 |
| Pioneer Natural Resources Company | COM | 723787107 |  | 14525604 | 63600 | SH |  | SOLE |  | 63600 | 0 | 0 |
| PPL Corporation | COM | 69351T106 |  | 16845330 | 576500 | SH |  | SOLE |  | 576500 | 0 | 0 |
| Procter  Gamble Company | COM | 742718109 |  | 17527914 | 115650 | SH |  | SOLE |  | 115650 | 0 | 0 |
| Prologis Inc. | COM | 74340W103 |  | 19705204 | 174800 | SH |  | SOLE |  | 174800 | 0 | 0 |
| Public Storage | COM | 74460D109 |  | 8910042 | 31800 | SH |  | SOLE |  | 31800 | 0 | 0 |
| QUALCOMM Incorporated | COM | 747525103 |  | 20130014 | 183100 | SH |  | SOLE |  | 183100 | 0 | 0 |
| Quanta Services Inc. | COM | 74762E102 |  | 21845250 | 153300 | SH |  | SOLE |  | 153300 | 0 | 0 |
| Realty Income Corporation | COM | 756109104 |  | 12108787 | 190900 | SH |  | SOLE |  | 190900 | 0 | 0 |
| Regeneron Pharmaceuticals Inc. | COM | 75886F107 |  | 24169915 | 33500 | SH |  | SOLE |  | 33500 | 0 | 0 |
| SBA Communications Corp. Class A | COM | 78410G104 |  | 12670012 | 45200 | SH |  | SOLE |  | 45200 | 0 | 0 |
| Sempra Energy | COM | 816851109 |  | 16195792 | 104800 | SH |  | SOLE |  | 104800 | 0 | 0 |
| Sherwin-Williams Company | COM | 824348106 |  | 10917180 | 46000 | SH |  | SOLE |  | 46000 | 0 | 0 |
| Steel Dynamics Inc. | COM | 858119100 |  | 9623450 | 98500 | SH |  | SOLE |  | 98500 | 0 | 0 |
| Sysco Corporation | COM | 871829107 |  | 17094220 | 223600 | SH |  | SOLE |  | 223600 | 0 | 0 |
| Technology Select Sector SPDR Fund | COM | 81369Y803 |  | 6184668 | 49700 | SH |  | SOLE |  | 49700 | 0 | 0 |
| Tesla Inc. | COM | 88160R101 |  | 16198170 | 131500 | SH |  | SOLE |  | 131500 | 0 | 0 |
| Thermo Fisher Scientific Inc. | COM | 883556102 |  | 42182854 | 76600 | SH |  | SOLE |  | 76600 | 0 | 0 |
| T-Mobile US Inc. | COM | 872590104 |  | 14602000 | 104300 | SH |  | SOLE |  | 104300 | 0 | 0 |
| Tractor Supply Company | COM | 892356106 |  | 23554359 | 104700 | SH |  | SOLE |  | 104700 | 0 | 0 |
| TransDigm Group Incorporated | COM | 893641100 |  | 16811655 | 26700 | SH |  | SOLE |  | 26700 | 0 | 0 |
| Ulta Beauty Inc. | COM | 90384S303 |  | 20920522 | 44600 | SH |  | SOLE |  | 44600 | 0 | 0 |
| Union Pacific Corporation | COM | 907818108 |  | 19174682 | 92600 | SH |  | SOLE |  | 92600 | 0 | 0 |
| UnitedHealth Group Incorporated | COM | 91324P102 |  | 52646874 | 99300 | SH |  | SOLE |  | 99300 | 0 | 0 |
| Verizon Communications Inc. | COM | 92343V104 |  | 10204600 | 259000 | SH |  | SOLE |  | 259000 | 0 | 0 |
| Visa Inc. Class A | COM | 92826C839 |  | 36835848 | 177300 | SH |  | SOLE |  | 177300 | 0 | 0 |
| Walt Disney Company | COM | 254687106 |  | 5108544 | 58800 | SH |  | SOLE |  | 58800 | 0 | 0 |
| Willis Towers Watson plc | COM | G96629103 |  | 23650886 | 96700 | SH |  | SOLE |  | 96700 | 0 | 0 |
| Wells Fargo  Company | COM | 949746101 |  | 30682599 | 743100 | SH |  | SOLE |  | 743100 | 0 | 0 |
| YUM! Brands Inc. | COM | 988498101 |  | 14498656 | 113200 | SH |  | SOLE |  | 113200 | 0 | 0 |

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