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, 2005
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:
Christine M. Sloan Baltimore, MD February 3, 2006
[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
[ ] 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).)
List of Other Managers Reporting for this Manager:
Form 13F File Number Name
28
[Repeat as necessary.]
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 84
Form 13F Information Table Value Total: $ 1,246,062
(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.
[If there are no entries in this list, state "NONE" and omit the column
headings and
list entries.]
No. Form 13-F File No. Name
28-
[Repeat as necessary.]
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE IN SHARES/PRN OTHER VOTING AUTHORITY
000's AMOUNT MANAGERS
SH/PUT/ INVSTM SOLE SHARED NONE
PRNCALL DISCRETN
>C>
3M COMPANY COM 88579Y101 12,400 160,000 SH SOLE 160,000
ABBOTT LABS COM 002824100 13,801 350,000 SH SOLE 350,000
ADVANCED MEDICAL OPTICS COM 00763M108 9,823 235,000 SH SOLE 235,000
AIR PRODUCTS & CHEMICALS COM 009158106 14,797 250,000 SH SOLE 250,000
ALLTEL CORP. COM 020039103 18,930 300,000 SH SOLE 300,000
AMBAC FINANCIAL GROUP COM 023139108 22,733 295,000 SH SOLE 295,000
AMERICAN INT'L GROUP INC COM 026874107 34,115 500,000 SH SOLE 500,000
AQUA AMERICA, INC. COM 03836W103 23,553 862,733 SH SOLE 862,733
AT&T CORP COM 00206R102 14,572 595,000 SH SOLE 595,000
AUTOMATIC DATA PROCESSIN COM 053015103 13,767 300,000 SH SOLE 300,000
AVAYA INC. COM 053499109 6,402 600,000 SH SOLE 600,000
AVON PRODUCTS COM 054303102 11,991 420,000 SH SOLE 420,000
BANK OF AMERICA COM 060505104 25,383 550,000 SH SOLE 550,000
BANKATLANTIC BANCORP CL A 065908501 6,020 430,000 SH SOLE 430,000
BEA SYSTEMS INC. COM 073325102 7,520 800,000 SH SOLE 800,000
BELLSOUTH CORP COM 079860102 5,420 200,000 SH SOLE 200,000
BJ WHOLESALE CLUB COM 05548J106 14,780 500,000 SH SOLE 500,000
BLACK HILLS CORP COM 092113109 8,479 245,000 SH SOLE 245,000
BP P.L.C. SPONSORED ADR 055622104 17,339 270,000 SH SOLE 270,000
BRISTOL MYERS SQUIBB COM 110122108 7,928 345,000 SH SOLE 345,000
BUNGE LTD. COM G16962105 13,303 235,000 SH SOLE 235,000
CINTAS CORP. COM 172908105 12,354 300,000 SH SOLE 300,000
CISCO SYSTEMS COM 17275R102 20,544 1,200,000 SH SOLE 1,200,000
CLEAR CHANNEL COMMUNICAT COM 184502102 11,008 350,000 SH SOLE 350,000
COMCAST CORP. CL A 20030N101 9,151 352,500 SH SOLE 352,500
COMPASS BANKSHARES INC. COM 20449H109 14,487 300,000 SH SOLE 300,000
CONOCOPHILLIPS COM 20825C104 20,072 345,000 SH SOLE 345,000
CORNING INC COM 219350105 11,796 600,000 SH SOLE 600,000
CREE INC. COM 225447101 12,620 500,000 SH SOLE 500,000
CURTISS-WRIGHT CORP COM 231561101 12,558 230,000 SH SOLE 230,000
DEAN FOODS COM 242370104 16,947 450,000 SH SOLE 450,000
DEL MONTE FOODS COM 24522P103 11,629 1,115,000 SH SOLE 1,115,000
DELL INC. COM 24702R101 11,996 400,000 SH SOLE 400,000
DIAMONDCLUSTER INTERNATI COM 25278P106 2,700 340,000 SH SOLE 340,000
DONNELLEY R R & SONS CO. COM 257867101 8,895 260,000 SH SOLE 260,000
DUKE ENERGY CORP. COM 264399106 16,787 611,560 SH SOLE 611,560
DUPONT EI DE NEMOURS COM 263534109 15,300 360,000 SH SOLE 360,000
EMERSON ELECTRIC COM 291011104 14,940 200,000 SH SOLE 200,000
EXXON MOBIL CORP. COM 30231G102 7,302 130,000 SH SOLE 130,000
FIFTH THIRD BANC COM 316773100 10,562 280,000 SH SOLE 280,000
GANNETT INC. COM 364730101 6,814 112,500 SH SOLE 112,500
GENENTECH, INC COM 368710406 20,350 220,000 SH SOLE 220,000
GENERAL ELECTRIC CO. COM 369604103 52,144 1,487,700 SH SOLE 1,487,700
HCA INC. COM 404119109 12,625 250,000 SH SOLE 250,000
ILLINOIS TOOL WORKS COM 452308109 10,999 125,000 SH SOLE 125,000
INTEL CORP COM 458140100 7,738 310,000 SH SOLE 310,000
INVESTORS FINANCIAL SERV COM 461915100 14,087 382,500 SH SOLE 382,500
JOHNSON & JOHNSON COM 478160104 15,326 255,000 SH SOLE 255,000
KEYSPAN CORP. COM 49337W100 4,997 140,000 SH SOLE 140,000
LAB CORP. OF AMERICA COM 50540R409 12,116 225,000 SH SOLE 225,000
LUCENT TECHNOLOGIES COM 549463107 7,714 2,900,000 SH SOLE 2,900,000
MARTIN MARIETTA MATERIAL COM 573284106 7,672 100,000 SH SOLE 100,000
MASCO CORP COM 574599106 13,585 450,000 SH SOLE 450,000
MDU RESOURCES GROUP, INC COM 552690109 18,825 575,000 SH SOLE 575,000
MEDIMMUNE INC. COM 584699102 7,880 225,000 SH SOLE 225,000
MEDTRONIC INC. COM 585055106 17,847 310,000 SH SOLE 310,000
MICROSOFT CORP COM 594918104 30,857 1,180,000 SH SOLE 1,180,000
MURPHY OIL CORP. COM 626717102 11,316 209,600 SH SOLE 209,600
NEWELL RUBBERMAID INC. COM 651229106 12,247 515,000 SH SOLE 515,000
NORTHFORK BANKCORP COM 659424105 14,364 525,000 SH SOLE 525,000
ORACLE CORP COM 68389X105 10,745 880,000 SH SOLE 880,000
OUTBACK STEAKHOUSE INC. COM 689899102 13,107 315,000 SH SOLE 315,000
PEPSI CO. INC. COM 713448108 25,995 440,000 SH SOLE 440,000
PETROLEUM & RESOURCES CO COM 716549100 64,227 1,985,996 SH SOLE 1,985,996
PFIZER INC COM 717081103 26,118 1,120,000 SH SOLE 1,120,000
PROCTER & GAMBLE COMPANY COM 742718109 19,679 340,000 SH SOLE 340,000
ROHM & HAAS CO. COM 775371107 19,368 400,000 SH SOLE 400,000
SAFEWAY, INC COM 786514208 10,008 423,000 SH SOLE 423,000
SAPIENT CORP COM 803062108 6,543 1,150,000 SH SOLE 1,150,000
SCHLUMBERGER LTD COM 806857108 18,459 190,000 SH SOLE 190,000
SIEBEL SYSTEMS INC. COM 826170102 8,464 800,000 SH SOLE 800,000
SMURFIT-STONE CONTAINER COM 832727101 9,210 650,000 SH SOLE 650,000
SOLECTRON CORP COM 834182107 6,771 1,850,000 SH SOLE 1,850,000
TARGET CORP. COM 87612E106 22,538 410,000 SH SOLE 410,000
THE COCA-COLA CO. COM 191216100 8,062 200,000 SH SOLE 200,000
UNILEVER PLC ADR SPON ADR NEW 904767704 13,841 345,000 SH SOLE 345,000
UNITED PARCEL SERVICES, COM CL B 911312106 11,648 155,000 SH SOLE 155,000
UNITED TECHNOLOGIES COM 913017109 16,773 300,000 SH SOLE 300,000
VODAFONE GROUP PLC SPONSORED ADR 92857W100 10,576 492,613 SH SOLE 492,613
WACHOVIA CORP. NEW COM 929903102 19,558 370,000 SH SOLE 370,000
WELLS FARGO COMPANY COM 949746101 20,420 325,000 SH SOLE 325,000
WILMINGTON TRUST CORP. COM 971807102 16,342 420,000 SH SOLE 420,000
WYETH COMPANY COM 983024100 14,973 325,000 SH SOLE 325,000
ZIMMER HLDGS INC. COM 98956P102 8,430 125,000 SH SOLE 125,000
1,246,062