13F
中
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Adams Asset Advisors, LLC

13F equity value
$891M
Positions
88
Top 10 concentration
51.0%
Quarters / total new picks
27 / 96
13F equity value over time
$0M$464M$927M2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +2.1% per quarter — versus +3.1% per quarter from simply owning every 13F stock. It beat that baseline in only 40.7% of quarters (excess t = 0.03, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.1%
t-stat
0.03
Quarterly win rate
41%
Annualized excess
-6.4%
$1 → follow vs universe
$1.36 vs $2.04
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320190331: universe 0.98520190630: universe 1.05920190930: universe 1.13920191231: universe 0.91920200331: universe 1.10820200630: universe 1.22420200930: universe 1.50120201231: universe 1.56920210331: universe 1.58320210930: universe 1.42120220331: universe 1.52620220630: universe 1.41420220930: universe 1.51820221231: universe 1.41020230331: universe 1.48620230630: universe 1.43320230930: universe 1.62620231231: universe 1.69920240331: universe 1.73720240930: universe 1.72220241231: universe 1.60720250331: universe 1.75220250930: universe 1.97120251231: universe 2.038 20180331: follow 1.13120180630: follow 1.12220180930: follow 1.25020190331: follow 1.21820190630: follow 1.30920190930: follow 1.25920191231: follow 0.79220200331: follow 0.82720200630: follow 0.87220200930: follow 0.91620201231: follow 0.99720210331: follow 0.79920210930: follow 0.89320220331: follow 0.86220220630: follow 0.81120220930: follow 1.14620221231: follow 1.01620230331: follow 1.06120230630: follow 1.01520230930: follow 1.00920231231: follow 1.03720240331: follow 1.09520240930: follow 1.16020241231: follow 1.06420250331: follow 1.24120250930: follow 1.31520251231: follow 1.363 0.73 1.47 2.20 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 88 · 2026 Q1

Ticker Value Weight QoQ
CLMT $115M
12.9%
TRIM
OXY $109M
12.3%
TRIM
SUN $37M
4.1%
HOLD
ET $28M
3.1%
HOLD
DMLP $24M
2.7%
ADD
NEM $22M
2.4%
HOLD
OXY/WS $20M
2.3%
HOLD
BTI $20M
2.3%
HOLD
AAPL $20M
2.2%
HOLD
PAA $18M
2.1%
HOLD
C $17M
1.9%
HOLD
VLO $16M
1.8%
HOLD
BRK/B $16M
1.8%
ADD
MO $16M
1.7%
HOLD
CMI $15M
1.7%
TRIM
DINO $15M
1.7%
HOLD
EPD $15M
1.7%
ADD
VZ $15M
1.7%
HOLD
CVX $14M
1.6%
HOLD
WES $14M
1.6%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

DVYKRPMETAMKL

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.