13F HOLDINGS REPORT
Adams Asset Advisors, LLC
Quarter ended Q3 2025 · Filed October 9, 2025 · Accession 0001386929-25-000007
Total Value
$775.6M
Positions
81
Other Managers
0
Confidential Omitted
No
Holdings (81)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | OCCIDENTAL PETROL CORP | 674599105 | 3,532,753 | $166.9M | 21.52% |
| 2 | CALUMET INC | CLMT | 5,406,271 | $98.7M | 12.72% |
| 3 | SUNOCO LP | SUN | 571,547 | $28.6M | 3.69% |
| 4 | ENERGY TRANSFER LP | ET-PI | 1,416,494 | $24.3M | 3.13% |
| 5 | APPLE INC | AAPL | 85,468 | $21.8M | 2.81% |
| 6 | DORCHESTER MINERALS LP | DMLP | 746,675 | $19.3M | 2.49% |
| 7 | BRITISH AMER TOBACCO F SPONSORED ADR | 110448107 | 346,549 | $18.4M | 2.37% |
| 8 | NEWMONT CORP | NEMCL | 212,522 | $17.9M | 2.31% |
| 9 | ALTRIA GROUP INC | MO | 238,344 | $15.7M | 2.03% |
| 10 | CITIGROUP INC | C-PR | 151,341 | $15.4M | 1.98% |
| 11 | ABBVIE | ABBV | 63,429 | $14.7M | 1.89% |
| 12 | WELLS FARGO & CO | 949746101 | 160,888 | $13.5M | 1.74% |
| 13 | PLAINS ALL AMERICAN PIPELINE LP | 726503105 | 784,791 | $13.4M | 1.73% |
| 14 | BANK OF AMERICA | 060505104 | 249,384 | $12.9M | 1.66% |
| 15 | WESTERN MIDSTREAM PARTNERS LP | WES | 327,105 | $12.9M | 1.66% |
| 16 | HF SINCLAIR CORP | DINO | 243,842 | $12.8M | 1.65% |
| 17 | CUMMINS INC | CMI | 29,551 | $12.5M | 1.61% |
| 18 | AT&T | T-PC | 437,240 | $12.3M | 1.59% |
| 19 | OCCIDENTAL PETE CORP WTS EXP 08/03/2027 | 674599162 | 468,312 | $11.9M | 1.54% |
| 20 | VALERO ENERGY CORP NEW | VLO | 65,962 | $11.2M | 1.45% |
| 21 | CISCO SYSTEMS INC | CSCO | 157,148 | $10.8M | 1.39% |
| 22 | CHEVRON CORP | CVX | 68,978 | $10.7M | 1.38% |
| 23 | MPLX LP | MPLXP | 209,589 | $10.5M | 1.35% |
| 24 | GOLDMAN SACHS GROUP | GSCE | 13,142 | $10.5M | 1.35% |
| 25 | VERIZON COMMUNICATIONS | VZ | 235,178 | $10.3M | 1.33% |
| 26 | AMGEN INC | AMGN | 36,182 | $10.2M | 1.32% |
| 27 | ENTERPRISE PRODUCTS PPTNSLP | 293792107 | 296,668 | $9.3M | 1.20% |
| 28 | KIMBERLY-CLARK CORP | KMB | 71,457 | $8.9M | 1.15% |
| 29 | PFIZER INC | PFE | 341,161 | $8.7M | 1.12% |
| 30 | UNIVERSAL CORP | UVV | 143,987 | $8.0M | 1.04% |
| 31 | MICROSOFT CORP | MSFT | 14,237 | $7.4M | 0.95% |
| 32 | ALLIANCE RESOURCE PAR LP | ARLP | 255,397 | $6.5M | 0.83% |
| 33 | HP INC | HPQ | 236,002 | $6.4M | 0.83% |
| 34 | SCHWAB US DIVIDEND EQUITY ETF | 808524797 | 231,589 | $6.3M | 0.82% |
| 35 | KRAFT HEINZ CO | KHC | 212,024 | $5.5M | 0.71% |
| 36 | BRISTOL-MYERS SQUIBB COCOM | CELG-RI | 121,058 | $5.5M | 0.70% |
| 37 | W P CAREY INC COM | 92936U109 | 71,438 | $4.8M | 0.62% |
| 38 | PEPSICO INC | PEP | 32,238 | $4.5M | 0.58% |
| 39 | SELECT WATER SOLUTIONSINC CL A COM | WTTR | 409,161 | $4.4M | 0.56% |
| 40 | KINDER MORGAN INC | EP-PC | 136,684 | $3.9M | 0.50% |
| 41 | CONAGRA BRANDS INC | CAG | 197,132 | $3.6M | 0.47% |
| 42 | BERKSHIRE HATHAWAY INC | BRK-A | 6,837 | $3.4M | 0.44% |
| 43 | GOLDMAN SACHS BDC INC | GSBD | 323,380 | $3.3M | 0.42% |
| 44 | UNITED PARCEL SERVICE | UPS | 39,333 | $3.3M | 0.42% |
| 45 | DELEK LOGISTICS PARTNERS LP | DKL | 70,288 | $3.2M | 0.41% |
| 46 | SUN COMMUNITIES REIT | 866674104 | 22,270 | $2.9M | 0.37% |
| 47 | REALTY INCOME COPR REIT | O | 44,653 | $2.7M | 0.35% |
| 48 | PEABODY ENERGY CORP | BTU | 100,000 | $2.7M | 0.34% |
| 49 | RLJ LODGING TRUST | RLJ-PA | 97,958 | $2.5M | 0.32% |
| 50 | PLYMOUTH INDUSTRIAL REIT INC | 729640102 | 108,000 | $2.4M | 0.31% |
| 51 | ENBRIDGE INC COM | ENNPF | 46,445 | $2.3M | 0.30% |
| 52 | WILLIAMS COS INC | 969457100 | 34,884 | $2.2M | 0.28% |
| 53 | FS KKR CAPITAL CORP | FSK | 141,307 | $2.1M | 0.27% |
| 54 | GOLUB CAPITAL BDC INC | 38173M102 | 153,977 | $2.1M | 0.27% |
| 55 | ARMADA HOFFLER PROPERTIES | 04208T108 | 299,923 | $2.1M | 0.27% |
| 56 | NNN REIT INC COM | NNN | 43,112 | $1.8M | 0.24% |
| 57 | GLOBAL X FDS GLBL X MLP ETF | 37954Y343 | 36,487 | $1.8M | 0.23% |
| 58 | MORGAN STANLEY DIRECT LENDIN | 61774A103 | 109,633 | $1.8M | 0.23% |
| 59 | BLUE OWL CAPITAL CORP | OWL | 125,369 | $1.6M | 0.21% |
| 60 | ALPHABET INC CAPT STK CLA | GOOG | 6,261 | $1.5M | 0.20% |
| 61 | SCHWAB US LARGE-CAP GROWTH ETF | 808524300 | 46,858 | $1.5M | 0.19% |
| 62 | ONEOK INC | OKE | 18,941 | $1.4M | 0.18% |
| 63 | MEDICAL PROPERTIES TRUST INC | 58463J304 | 271,226 | $1.4M | 0.18% |
| 64 | WEYERHAEUSER CO COM | WY | 54,313 | $1.3M | 0.17% |
| 65 | BLACKSTONE SECURED LENDING F | BX | 49,337 | $1.3M | 0.17% |
| 66 | ISHARES IBOXX INVESTMENT GRADE CORP BONDS | 464287242 | 11,258 | $1.3M | 0.16% |
| 67 | NUVEEN CHURCHILL DIRECT LEND | 67090S108 | 87,695 | $1.2M | 0.16% |
| 68 | VANECK ETF TR VANECK BDC INCOME ETF | 92189F411 | 76,465 | $1.1M | 0.15% |
| 69 | EXXON MOBIL CORP | XOM | 10,040 | $1.1M | 0.15% |
| 70 | SIMON PROPERTY GROUP INC | 828806109 | 5,789 | $1.1M | 0.14% |
| 71 | GLOBAL X FDS US PREFERRED ETF | 37954Y657 | 50,146 | $974,336 | 0.13% |
| 72 | PLAINS GP HOLDINGS LP | PAGP | 48,311 | $881,193 | 0.11% |
| 73 | STARWOOD PROPERTY TRUST INC | STHO | 32,709 | $633,573 | 0.08% |
| 74 | TRINITY PETROLEUM TR | 896556107 | 10,020 | $568,134 | 0.07% |
| 75 | PROCTER AND GAMBLE CO | 742718109 | 3,641 | $559,440 | 0.07% |
| 76 | GLOBAL PARTNERS LP COMUNITS | GLP-PB | 9,860 | $473,280 | 0.06% |
| 77 | JOHNSON & JOHNSON | JNJ | 2,347 | $435,180 | 0.06% |
| 78 | ISHARES SILVER TRUST ETF IV | SLV | 7,000 | $296,590 | 0.04% |
| 79 | FIRST FINANCIAL BANKSHARES INC | 32020R109 | 8,760 | $294,774 | 0.04% |
| 80 | CRESCENT CAP BDC INC COM | 225655109 | 17,639 | $251,532 | 0.03% |
| 81 | NEXPOINT DIVERSIFIED REAL ES | 65340G205 | 56,300 | $207,747 | 0.03% |