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, 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 February 14, 2012
[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: 90
Form 13F Information Table Value Total: $1,003,487
(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 7,872 140,000 SH SOLE 140,000
ACE LTD. SHS H0023R105 11,570 165,000 SH SOLE 165,000
ADTRAN, INC. COM 00738A106 9,603 318,400 SH SOLE 318,400
AIR PRODUCTS & CHEMICALS COM 009158106 2,556 30,000 SH SOLE 30,000
APPLE INC. COM 037833100 38,475 95,000 SH SOLE 95,000
AUTOMATIC DATA PROCESSING INC. COM 053015103 10,802 200,000 SH SOLE 200,000
AVON PRODUCTS, INC. COM 054303102 6,282 359,600 SH SOLE 359,600
AXIS CAPITAL HOLDINGS LTD. SHS G0692U109 4,794 150,000 SH SOLE 150,000
BANK OF AMERICA CORP. COM 060505104 7,701 1,385,000 SH SOLE 1,385,000
BANK OF NEW YORK MELLON CORP. COM 064058100 8,039 403,775 SH SOLE 403,775
BORGWARNER INC. COM 099724106 9,561 150,000 SH SOLE 150,000
BRISTOL-MYERS SQUIBB CO. COM 110122108 5,605 159,061 SH SOLE 159,061
BROADCOM CORP. CL A 111320107 5,872 200,000 SH SOLE 200,000
BUNGE LTD. COM G16962105 8,866 155,000 SH SOLE 155,000
CAPITAL ONE FINANCIAL CORP. COM 14040H105 10,150 240,000 SH SOLE 240,000
CATERPILLAR INC COM 149123101 19,026 210,000 SH SOLE 210,000
CELGENE CORP. COM 151020104 13,520 200,000 SH SOLE 200,000
CENTURYLINK INC. COM 156700106 13,392 360,000 SH SOLE 360,000
CF INDUSTRIES HOLDINGS, INC. COM 125269100 4,571 31,531 SH SOLE 31,531
CHEVRON CORP. COM 166764100 21,280 200,000 SH SOLE 200,000
CISCO SYSTEMS, INC. COM 17275R102 15,368 850,000 SH SOLE 850,000
CLIFFS NATURAL RESOURCES INC. COM 18683K101 5,050 81,000 SH SOLE 81,000
COCA-COLA CO. COM 191216100 13,994 200,000 SH SOLE 200,000
COGNIZANT TECHNOLOGY SOLUTIONS CL A 192446102 9,646 150,000 SH SOLE 150,000
COLUMBIA SPORTSWEAR CO. COM 198516106 9,310 200,000 SH SOLE 200,000
CONSOL ENERGY INC. COM 20854P109 2,705 73,700 SH SOLE 73,700
CVS/CAREMARK CORP. COM 126650100 12,030 295,000 SH SOLE 295,000
DIGITAL REALTY TRUST INC. COM 253868103 1,000 15,000 SH SOLE 15,000
DOW CHEMICAL CO. COM 260543103 10,354 360,000 SH SOLE 360,000
EMERSON ELECTRIC CO. COM 291011104 4,659 100,000 SH SOLE 100,000
EXXON MOBIL CORP. COM 30231G102 9,747 115,000 SH SOLE 115,000
F5 NETWORKS INC. COM 315616102 6,898 65,000 SH SOLE 65,000
FEDEX CORP. COM 31428X106 9,604 115,000 SH SOLE 115,000
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 8,377 227,700 SH SOLE 227,700
GENERAL ELECTRIC CO. COM 369604103 8,776 490,000 SH SOLE 490,000
GILEAD SCIENCES INC. COM 375558103 10,233 250,000 SH SOLE 250,000
GOODRICH CORP. COM 382388106 3,711 30,000 SH SOLE 30,000
GOOGLE INC. CL A 38259P508 14,468 22,400 SH SOLE 22,400
HALLIBURTON CO. COM 406216101 5,176 150,000 SH SOLE 150,000
HEWLETT-PACKARD CO. COM 428236103 7,728 300,000 SH SOLE 300,000
HONEYWELL INT'L INC. COM 438516106 13,044 240,000 SH SOLE 240,000
INTEL CORP. COM 458140100 19,157 790,000 SH SOLE 790,000
JOHNSON & JOHNSON COM 478160104 16,723 255,000 SH SOLE 255,000
JPMORGAN CHASE & CO. COM 46625H100 19,950 600,000 SH SOLE 600,000
LIFE TECHNOLOGIES CORP. COM 53217V109 7,782 200,000 SH SOLE 200,000
LOWE'S COMPANIES, INC. COM 548661107 15,228 600,000 SH SOLE 600,000
MARRIOTT INTERNATIONAL INC. CL A 571903202 8,751 300,000 SH SOLE 300,000
MASCO CORP. COM 574599106 7,598 725,000 SH SOLE 725,000
MCDONALD'S CORP. COM 580135101 24,079 240,000 SH SOLE 240,000
MDU RESOURCES GROUP, INC. COM 552690109 8,854 412,600 SH SOLE 412,600
MEDTRONIC, INC. COM 585055106 13,388 350,000 SH SOLE 350,000
MICROSOFT CORP. COM 594918104 18,172 700,000 SH SOLE 700,000
MORGAN STANLEY COM NEW 617446448 3,707 245,000 SH SOLE 245,000
NATIONAL OILWELL VARCO COM 637071101 6,799 100,000 SH SOLE 100,000
NETAPP, INC. COM 64110D104 10,881 300,000 SH SOLE 300,000
NEWELL RUBBERMAID INC. COM 651229106 6,460 400,000 SH SOLE 400,000
NORFOLK SOUTHERN CORP. COM 655844108 11,658 160,000 SH SOLE 160,000
NORTHEAST UTILITIES COM 664397106 12,624 350,000 SH SOLE 350,000
OLD DOMINION FREIGHT LINE INC. COM 679580100 1,419 35,000 SH SOLE 35,000
ORACLE CORP. COM 68389X105 24,624 960,000 SH SOLE 960,000
PEABODY ENERGY CORP. COM 704549104 1,470 44,400 SH SOLE 44,400
PEPSICO, INC. COM 713448108 19,905 300,000 SH SOLE 300,000
PETROLEUM & RESOURCES COM 716549100 53,532 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 17,312 800,000 SH SOLE 800,000
PHILIP MORRIS INTERNATIONAL COM 718172109 11,772 150,000 SH SOLE 150,000
PNC FINANCIAL SERVICES GROUP, COM 693475105 13,552 235,000 SH SOLE 235,000
POTASH CORP OF SASKATCHEWAN COM 73755L107 6,444 156,100 SH SOLE 156,100
PRAXAIR, INC. COM 74005P104 7,216 67,500 SH SOLE 67,500
PROCTER & GAMBLE CO. COM 742718109 18,679 280,000 SH SOLE 280,000
PRUDENTIAL FINANCIAL, INC. COM 744320102 15,537 310,000 SH SOLE 310,000
QUALCOMM INC. COM 747525103 16,410 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 9,669 613,500 SH SOLE 613,500
SAFEWAY INC. COM NEW 786514208 7,154 340,000 SH SOLE 340,000
SCHLUMBERGER LTD. COM 806857108 5,465 80,000 SH SOLE 80,000
SEADRILL LTD. SHS G7945E105 3,321 100,100 SH SOLE 100,100
SENOMYX, INC. COM 81724Q107 4,470 1,284,400 SH SOLE 1,284,400
SOUTH JERSEY INDUSTRIES INC. COM 838518108 1,704 30,000 SH SOLE 30,000
SPECTRA ENERGY CORP. COM 847560109 12,478 405,780 SH SOLE 405,780
SPIRIT AEROSYSTEMS HOLDINGS,INC.COM CL A 848574109 10,390 500,000 SH SOLE 500,000
T. ROWE PRICE GROUP INC. COM 74144T108 11,390 200,000 SH SOLE 200,000
TARGET CORP. COM 87612E106 16,390 320,000 SH SOLE 320,000
TECK RESOURCES LTD. CL B 878742204 3,343 95,000 SH SOLE 95,000
TEVA PHARMACEUTICAL INDUSTRIES ADR 881624209 13,319 330,000 SH SOLE 330,000
UNILEVER PLC ADR SPON ADR NEW 904767704 15,419 460,000 SH SOLE 460,000
UNITED TECHNOLOGIES CORP. COM 913017109 9,136 125,000 SH SOLE 125,000
UNITEDHEALTH GROUP INC. COM 91324P102 11,530 227,500 SH SOLE 227,500
WALT DISNEY CO. COM 254687106 18,000 480,000 SH SOLE 480,000
WELLS FARGO & CO. COM 949746101 18,052 655,000 SH SOLE 655,000
WISCONSIN ENERGY CORP. COM 976657106 3,146 90,000 SH SOLE 90,000
ZIMMER HOLDINGS, INC. COM 98956P102 8,013 150,000 SH SOLE 150,000
1,003,487