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, 2011
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 28, 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: 79
Form 13F Information Table Value Total: $1,145,481
(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 15,205 310,000 SH SOLE 310,000
ADTRAN, INC. COM 00738A106 11,396 268,400 SH SOLE 268,400
AMERICAN EXPRESS CO. COM 025816109 15,820 350,000 SH SOLE 350,000
APPLE INC. COM 037833100 30,315 87,000 SH SOLE 87,000
AUTOMATIC DATA PROCESSING INC. COM 053015103 15,393 300,000 SH SOLE 300,000
AVON PRODUCTS, INC. COM 054303102 8,236 304,600 SH SOLE 304,600
BANK OF AMERICA CORP. COM 060505104 18,462 1,385,000 SH SOLE 1,385,000
BANK OF NEW YORK MELLON CORP. COM 064058100 12,061 403,775 SH SOLE 403,775
BRISTOL-MYERS SQUIBB CO. COM 110122108 4,204 159,061 SH SOLE 159,061
BROADCOM CORP. CL A 111320107 7,876 200,000 SH SOLE 200,000
BUNGE LTD. COM G16962105 13,019 180,000 SH SOLE 180,000
CATERPILLAR INC DEL COM 149123101 15,589 140,000 SH SOLE 140,000
CELGENE CORP. COM 151020104 9,303 161,700 SH SOLE 161,700
CF INDUSTRIES HOLDINGS, INC. COM 125269100 4,792 35,031 SH SOLE 35,031
CHEVRON CORP. COM 166764100 21,486 200,000 SH SOLE 200,000
CISCO SYSTEMS, INC. COM 17275R102 14,578 850,000 SH SOLE 850,000
CLIFFS NATURAL RESOURCES INC. COM 18683K101 11,794 120,000 SH SOLE 120,000
COCA-COLA CO. COM 191216100 14,929 225,000 SH SOLE 225,000
COLUMBIA SPORTSWEAR CO. COM 198516106 11,884 200,000 SH SOLE 200,000
CONSOL ENERGY INC. COM 20854P109 3,953 73,700 SH SOLE 73,700
CURTISS-WRIGHT CORP. COM 231561101 12,650 360,000 SH SOLE 360,000
CVS/CAREMARK CORP. COM 126650100 10,124 295,000 SH SOLE 295,000
DOW CHEMICAL CO. COM 260543103 15,100 400,000 SH SOLE 400,000
EMERSON ELECTRIC CO. COM 291011104 11,686 200,000 SH SOLE 200,000
EXXON MOBIL CORP. COM 30231G102 18,088 215,000 SH SOLE 215,000
FEDEX CORP. COM 31428X106 10,758 115,000 SH SOLE 115,000
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 13,499 243,000 SH SOLE 243,000
GENERAL ELECTRIC CO. COM 369604103 21,213 1,058,000 SH SOLE 1,058,000
GILEAD SCIENCES INC. COM 375558103 10,610 250,000 SH SOLE 250,000
GOODRICH CORP. COM 382388106 10,691 125,000 SH SOLE 125,000
GOOGLE INC. CL A 38259P508 17,586 30,000 SH SOLE 30,000
HALLIBURTON CO. COM 406216101 7,476 150,000 SH SOLE 150,000
HEWLETT-PACKARD CO. COM 428236103 12,291 300,000 SH SOLE 300,000
HOSPIRA INC. COM 441060100 9,660 175,000 SH SOLE 175,000
INTEL CORP. COM 458140100 16,943 840,000 SH SOLE 840,000
JOHNSON & JOHNSON COM 478160104 15,109 255,000 SH SOLE 255,000
JPMORGAN CHASE & CO. COM 46625H100 25,816 560,000 SH SOLE 560,000
LIFE TECHNOLOGIES CORP. COM 53217V109 10,484 200,000 SH SOLE 200,000
LOWE'S COMPANIES, INC. COM 548661107 15,858 600,000 SH SOLE 600,000
MASCO CORP. COM 574599106 11,484 825,000 SH SOLE 825,000
MCDONALD'S CORP. COM 580135101 19,022 250,000 SH SOLE 250,000
MDU RESOURCES GROUP, INC. COM 552690109 11,763 512,100 SH SOLE 512,100
MEAD JOHNSON NUTRITION CO. COM 582839106 6,800 117,383 SH SOLE 117,383
MEDTRONIC, INC. COM 585055106 13,773 350,000 SH SOLE 350,000
MICROSOFT CORP. COM 594918104 29,925 1,180,000 SH SOLE 1,180,000
MORGAN STANLEY COM NEW 617446448 10,928 400,000 SH SOLE 400,000
NATIONAL OILWELL VARCO COM 637071101 3,963 50,000 SH SOLE 50,000
NETAPP, INC. COM 64110D104 14,454 300,000 SH SOLE 300,000
NEWELL RUBBERMAID INC. COM 651229106 7,652 400,000 SH SOLE 400,000
NORFOLK SOUTHERN CORP. COM 655844108 13,854 200,000 SH SOLE 200,000
NORTHEAST UTILITIES COM 664397106 12,110 350,000 SH SOLE 350,000
ORACLE CORP. COM 68389X105 36,707 1,100,000 SH SOLE 1,100,000
OSHKOSH CORP. COM 688239201 13,444 380,000 SH SOLE 380,000
PEPSICO, INC. COM 713448108 23,188 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES COM 716549100 66,937 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 16,248 800,000 SH SOLE 800,000
PNC FINANCIAL SERVICES GROUP, COM 693475105 17,007 270,000 SH SOLE 270,000
POTASH CORP OF SASKATCHEWAN COM 73755L107 9,997 169,650 SH SOLE 169,650
PRAXAIR, INC. COM 74005P104 11,104 109,292 SH SOLE 109,292
PROCTER & GAMBLE CO. COM 742718109 19,404 315,000 SH SOLE 315,000
PRUDENTIAL FINANCIAL, INC. COM 744320102 19,090 310,000 SH SOLE 310,000
QUALCOMM INC. COM 747525103 16,449 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 9,755 613,500 SH SOLE 613,500
SAFEWAY INC. COM NEW 786514208 9,181 390,000 SH SOLE 390,000
SENOMYX, INC. COM 81724Q107 7,758 1,284,400 SH SOLE 1,284,400
SPECTRA ENERGY CORP. COM 847560109 11,029 405,780 SH SOLE 405,780
SPIRIT AEROSYSTEMS HOLDINGS, COM CL A 848574109 12,835 500,000 SH SOLE 500,000
STATE STREET CORP. COM 857477103 8,673 193,000 SH SOLE 193,000
T. ROWE PRICE GROUP INC. COM 74144T108 13,284 200,000 SH SOLE 200,000
TARGET CORP. COM 87612E106 16,003 320,000 SH SOLE 320,000
TECK RESOURCES LTD CL B 878742204 5,302 100,000 SH SOLE 100,000
TEVA PHARMACEUTICAL INDUSTRIES ADR 881624209 16,556 330,000 SH SOLE 330,000
TRANSOCEAN LTD. REG SHS H8817H100 8,185 105,000 SH SOLE 105,000
UNILEVER PLC ADR SPON ADR NEW 904767704 17,558 573,400 SH SOLE 573,400
UNITED TECHNOLOGIES CORP. COM 913017109 16,930 200,000 SH SOLE 200,000
UNITEDHEALTH GROUP INC. COM 91324P102 11,300 250,000 SH SOLE 250,000
WALT DISNEY CO. COM 254687106 20,683 480,000 SH SOLE 480,000
WELLS FARGO & CO. COM 949746101 20,129 635,000 SH SOLE 635,000
ZIMMER HOLDINGS, INC. COM 98956P102 9,080 150,000 SH SOLE 150,000
1,145,481