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, 2012
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 20, 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: 99
Form 13F Information Table Value Total: $1,105,555
(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
ACE LTD. SHS H0023R105 12,078 165,000 SH SOLE 165,000
ADTRAN, INC. COM 00738A106 3,188 102,200 SH SOLE 102,200
AFFILIATED MANAGERS COM 008252108 2,124 19,000 SH SOLE 19,000
AIR PRODUCTS & CHEMICALS COM 009158106 2,754 30,000 SH SOLE 30,000
APPLE INC. COM 037833100 47,958 80,000 SH SOLE 80,000
AT&T CORP. COM 00206R102 14,834 475,000 SH SOLE 475,000
AUTOMATIC DATA PROCESSING INC. COM 053015103 11,038 200,000 SH SOLE 200,000
AVON PRODUCTS, INC. COM 054303102 6,962 359,600 SH SOLE 359,600
AXIS CAPITAL HOLDINGS LTD. SHS G0692U109 6,302 190,000 SH SOLE 190,000
BANK OF AMERICA CORP. COM 060505104 8,900 930,000 SH SOLE 930,000
BANK OF NEW YORK MELLON CORP. COM 064058100 9,743 403,775 SH SOLE 403,775
BORGWARNER INC. COM 099724106 11,386 135,000 SH SOLE 135,000
BRISTOL-MYERS SQUIBB CO. COM 110122108 5,368 159,061 SH SOLE 159,061
BROADCOM CORP. CL A 111320107 3,930 100,000 SH SOLE 100,000
BUNGE LTD. COM G16962105 8,897 130,000 SH SOLE 130,000
CAPITAL ONE FINANCIAL CORP. COM 14040H105 13,378 240,000 SH SOLE 240,000
CATERPILLAR INC. COM 149123101 17,043 160,000 SH SOLE 160,000
CELGENE CORP. COM 151020104 9,302 120,000 SH SOLE 120,000
CENTURYLINK INC. COM 156700106 13,914 360,000 SH SOLE 360,000
CF INDUSTRIES HOLDINGS, INC. COM 125269100 7,038 38,531 SH SOLE 38,531
CHEVRON CORP. COM 166764100 17,802 166,000 SH SOLE 166,000
CISCO SYSTEMS, INC. COM 17275R102 17,978 850,000 SH SOLE 850,000
CLIFFS NATURAL RESOURCES INC. COM 18683K101 5,610 81,000 SH SOLE 81,000
COCA-COLA CO. COM 191216100 14,802 200,000 SH SOLE 200,000
COGNIZANT TECHNOLOGY SOLUTIONS CL A 192446102 11,543 150,000 SH SOLE 150,000
COLUMBIA SPORTSWEAR CO. COM 198516106 9,490 200,000 SH SOLE 200,000
CONSOL ENERGY INC. COM 20854P109 2,513 73,700 SH SOLE 73,700
CVS/CAREMARK CORP. COM 126650100 13,216 295,000 SH SOLE 295,000
DIAGEO PLC ADR SPON ADR NEW 25243Q205 192 2,000 SH SOLE 2,000
DIGITAL REALTY TRUST INC. COM 253868103 1,110 15,000 SH SOLE 15,000
DOW CHEMICAL CO. COM 260543103 12,470 360,000 SH SOLE 360,000
EMERSON ELECTRIC CO. COM 291011104 11,480 220,000 SH SOLE 220,000
EXPRESS SCRIPTS INC. COM 302182100 11,920 220,000 SH SOLE 220,000
EXXON MOBIL CORP. COM 30231G102 9,974 115,000 SH SOLE 115,000
F5 NETWORKS INC. COM 315616102 6,073 45,000 SH SOLE 45,000
FEDEX CORP. COM 31428X106 10,575 115,000 SH SOLE 115,000
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 7,825 205,700 SH SOLE 205,700
GENERAL ELECTRIC CO. COM 369604103 10,838 540,000 SH SOLE 540,000
GILEAD SCIENCES INC. COM 375558103 12,213 250,000 SH SOLE 250,000
GOODRICH CORP. COM 382388106 3,763 30,000 SH SOLE 30,000
GOOGLE INC. CL A 38259P508 14,364 22,400 SH SOLE 22,400
HALLIBURTON CO. COM 406216101 4,978 150,000 SH SOLE 150,000
HEWLETT-PACKARD CO. COM 428236103 5,958 250,000 SH SOLE 250,000
HONEYWELL INT'L INC. COM 438516106 15,568 255,000 SH SOLE 255,000
INTEL CORP. COM 458140100 22,207 790,000 SH SOLE 790,000
JOHNSON & JOHNSON COM 478160104 16,820 255,000 SH SOLE 255,000
JPMORGAN CHASE & CO. COM 46625H100 27,588 600,000 SH SOLE 600,000
KANSAS CITY SOUTHERN COM NEW 485170302 3,943 55,000 SH SOLE 55,000
LIFE TECHNOLOGIES CORP. COM 53217V109 9,764 200,000 SH SOLE 200,000
LOWE'S COMPANIES, INC. COM 548661107 18,828 600,000 SH SOLE 600,000
MARRIOTT INTERNATIONAL INC. CL A 571903202 11,355 300,000 SH SOLE 300,000
MASCO CORP. COM 574599106 9,693 725,000 SH SOLE 725,000
MCDONALD'S CORP. COM 580135101 23,544 240,000 SH SOLE 240,000
MCKESSON CORP. COM 58155Q103 1,826 20,800 SH SOLE 20,800
MDU RESOURCES GROUP, INC. COM 552690109 6,954 310,600 SH SOLE 310,600
MEDTRONIC, INC. COM 585055106 13,717 350,000 SH SOLE 350,000
METLIFE INC. COM 59156R108 10,645 285,000 SH SOLE 285,000
MICROSOFT CORP. COM 594918104 22,575 700,000 SH SOLE 700,000
MORGAN STANLEY COM NEW 617446448 2,357 120,000 SH SOLE 120,000
NATIONAL OILWELL VARCO, INC. COM 637071101 7,947 100,000 SH SOLE 100,000
NETAPP, INC. COM 64110D104 5,596 125,000 SH SOLE 125,000
NEWELL RUBBERMAID INC. COM 651229106 7,124 400,000 SH SOLE 400,000
NISOURCE INC. COM 65473P105 1,826 75,000 SH SOLE 75,000
NORFOLK SOUTHERN CORP. COM 655844108 6,583 100,000 SH SOLE 100,000
NORTHEAST UTILITIES COM 664397106 7,164 193,000 SH SOLE 193,000
OLD DOMINION FREIGHT LINE INC. COM 679580100 1,668 35,000 SH SOLE 35,000
ORACLE CORP. COM 68389X105 22,162 760,000 SH SOLE 760,000
PEABODY ENERGY CORP. COM 704549104 1,189 41,060 SH SOLE 41,060
PEPSICO, INC. COM 713448108 19,905 300,000 SH SOLE 300,000
PETROLEUM & RESOURCES CORP. COM 716549100 56,856 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 18,128 800,000 SH SOLE 800,000
PHILIP MORRIS INTERNATIONAL INC.COM 718172109 13,291 150,000 SH SOLE 150,000
PNC FINANCIAL SERVICES GROUP, COM 693475105 15,155 235,000 SH SOLE 235,000
POTASH CORP OF SASKATCHEWAN INC.COM 73755L107 5,944 130,100 SH SOLE 130,100
PRAXAIR, INC. COM 74005P104 7,738 67,500 SH SOLE 67,500
PROCTER & GAMBLE CO. COM 742718109 18,819 280,000 SH SOLE 280,000
PRUDENTIAL FINANCIAL, INC. COM 744320102 9,509 150,000 SH SOLE 150,000
QUALCOMM INC. COM 747525103 20,406 300,000 SH SOLE 300,000
RYLAND GROUP INC. COM 783764103 11,828 613,500 SH SOLE 613,500
SAFEWAY INC. COM NEW 786514208 6,871 340,000 SH SOLE 340,000
SCHLUMBERGER LTD COM 806857108 8,392 120,000 SH SOLE 120,000
SEADRILL LTD. SHS G7945E105 3,755 100,100 SH SOLE 100,100
SENOMYX, INC. COM 81724Q107 3,519 1,284,400 SH SOLE 1,284,400
SOUTH JERSEY INDUSTRIES INC. COM 838518108 5,004 100,000 SH SOLE 100,000
SPECTRA ENERGY CORP. COM 847560109 12,802 405,780 SH SOLE 405,780
SPIRIT AEROSYSTEMS HOLDINGS,INC.COM CL A 848574109 12,230 500,000 SH SOLE 500,000
T. ROWE PRICE GROUP INC. COM 74144T108 9,795 150,000 SH SOLE 150,000
TARGET CORP. COM 87612E106 18,646 320,000 SH SOLE 320,000
TECK RESOURCES LTD CL B 878742204 3,388 95,000 SH SOLE 95,000
TEREX CORP. COM 880779103 450 20,000 SH SOLE 20,000
TEVA PHARMACEUTICAL INDUSTRIES ADR 881624209 9,913 220,000 SH SOLE 220,000
UNILEVER PLC ADR SPON ADR NEW 904767704 15,203 460,000 SH SOLE 460,000
UNITED TECHNOLOGIES CORP. COM 913017109 8,294 100,000 SH SOLE 100,000
UNITEDHEALTH GROUP INC. COM 91324P102 13,409 227,500 SH SOLE 227,500
VERIZON COMMUNICATIONS COM 92343V104 8,793 230,000 SH SOLE 230,000
WALT DISNEY CO. COM 254687106 21,014 480,000 SH SOLE 480,000
WELLS FARGO & CO. COM 949746101 22,362 655,000 SH SOLE 655,000
WISCONSIN ENERGY CORP. COM 976657106 5,277 150,000 SH SOLE 150,000
ZIMMER HOLDINGS, INC. COM 98956P102 7,392 115,000 SH SOLE 115,000
1,105,555