UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2008
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 July 22, 2008
[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: 75
Form 13F Information Table Value Total: $ 1,110,127
(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 6 COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CLASS CUSIP VALUE IN SHARES/ SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
000's PRN AMTPRN CALL DISCRETION MANAGERS
SOLE SHARED NONE
>C>
3M COMPANY COM 88579Y101 11,134 160,000 SH SOLE 160,000
ABBOTT LABS COM 002824100 16,950 320,000 SH SOLE 320,000
AIR PRODUCTS & CHEMICALS COM 009158106 22,738 230,000 SH SOLE 230,000
AMERICAN INT'L GROUP INC COM 026874107 13,230 500,000 SH SOLE 500,000
AT&T CORP COM 00206R102 13,476 400,000 SH SOLE 400,000
AUTOMATIC DATA PROCESSIN COM 053015103 12,570 300,000 SH SOLE 300,000
AVON PRODUCTS COM 054303102 14,494 402,400 SH SOLE 402,400
BANK OF AMERICA COM 060505104 17,425 730,000 SH SOLE 730,000
BANK OF NEW YORK MELLON COM 064058100 15,275 403,775 SH SOLE 403,775
BRISTOL MYERS SQUIBB COM 110122108 7,083 345,000 SH SOLE 345,000
BROADCOM CORP COM 111320107 10,916 400,000 SH SOLE 400,000
BUNGE LTD. COM G16962105 10,769 100,000 SH SOLE 100,000
CHEVRON CORP. COM 166764100 14,870 150,000 SH SOLE 150,000
CINTAS CORP. COM 172908105 7,953 300,000 SH SOLE 300,000
CISCO SYSTEMS COM 17275R102 19,771 850,000 SH SOLE 850,000
COMCAST CORP. CL A 20030N101 9,959 525,000 SH SOLE 525,000
CONOCOPHILLIPS COM 20825C104 27,845 295,000 SH SOLE 295,000
CORNING INC COM 219350105 11,525 500,000 SH SOLE 500,000
CURTISS-WRIGHT CORP COM 231561101 16,106 360,000 SH SOLE 360,000
CVS/CAREMARK CORPORATION COM 126650100 9,893 250,000 SH SOLE 250,000
DEAN FOODS COM 242370104 6,671 340,000 SH SOLE 340,000
DEL MONTE FOODS COM 24522P103 9,230 1,300,000 SH SOLE 1,300,000
DELL INC. COM 24702R101 12,800 585,000 SH SOLE 585,000
DUKE ENERGY CORP. COM 26441C105 10,629 611,560 SH SOLE 611,560
DUPONT EI DE NEMOURS COM 263534109 15,440 360,000 SH SOLE 360,000
EMERSON ELECTRIC COM 291011104 14,835 300,000 SH SOLE 300,000
EXXON MOBIL CORP. COM 30231G102 18,948 215,000 SH SOLE 215,000
GENENTECH, INC COM 368710406 16,698 220,000 SH SOLE 220,000
GENERAL ELECTRIC CO. COM 369604103 37,046 1,388,000 SH SOLE 1,388,000
HALLIBURTON CO. COM 406216101 15,921 300,000 SH SOLE 300,000
HANSEN NATURAL CORP. COM 411310105 10,808 375,000 SH SOLE 375,000
HARLEY DAVIDSON COM 412822108 4,714 130,000 SH SOLE 130,000
ILLINOIS TOOL WORKS COM 452308109 11,878 250,000 SH SOLE 250,000
INTEL CORP COM 458140100 13,747 640,000 SH SOLE 640,000
JOHNSON & JOHNSON COM 478160104 16,407 255,000 SH SOLE 255,000
LOWE'S COS INC. COM 548661107 12,450 600,000 SH SOLE 600,000
LUBRIZOL CORP COM 549271104 10,193 220,000 SH SOLE 220,000
MASCO CORP COM 574599106 7,079 450,000 SH SOLE 450,000
MDU RESOURCES GROUP, INC COM 552690109 19,609 562,500 SH SOLE 562,500
MEDTRONIC INC. COM 585055106 16,043 310,000 SH SOLE 310,000
MICROSOFT CORP COM 594918104 32,462 1,180,000 SH SOLE 1,180,000
MORGAN STANLEY CO. COM 617446448 7,214 200,000 SH SOLE 200,000
NEWELL RUBBERMAID INC. COM 651229106 6,716 400,000 SH SOLE 400,000
NORTHEAST UTILITIES COM 664397106 8,936 350,000 SH SOLE 350,000
ORACLE CORP COM 68389X105 23,100 1,100,000 SH SOLE 1,100,000
OSHKOSH CORPORATION COM 688239201 6,310 305,000 SH SOLE 305,000
PEPSI CO. INC. COM 713448108 22,892 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES CO COM 716549100 95,321 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 19,566 1,120,000 SH SOLE 1,120,000
PNC FINANCIAL SERVICES G COM 693475105 11,420 200,000 SH SOLE 200,000
PROCTER & GAMBLE COMPANY COM 742718109 20,675 340,000 SH SOLE 340,000
PROSPERITY BANCSHARES IN COM 743606105 6,683 250,000 SH SOLE 250,000
PRUDENTIAL FINANCIAL INC COM 744320102 11,351 190,000 SH SOLE 190,000
ROHM & HAAS CO. COM 775371107 12,107 260,700 SH SOLE 260,700
RYLAND GROUP INC. COM 783764103 7,492 343,500 SH SOLE 343,500
SAFEWAY, INC COM 786514208 11,135 390,000 SH SOLE 390,000
SCHLUMBERGER LTD COM 806857108 40,823 380,000 SH SOLE 380,000
SENOMYX INC. COM 81724Q107 4,853 984,400 SH SOLE 984,400
SPECTRA ENERGY CORP. COM 847560109 8,788 305,780 SH SOLE 305,780
SPIRIT AEROSYSTEMS HOLDI COM 848574109 10,549 550,000 SH SOLE 550,000
STATE STREET CORP. COM 857477103 16,637 260,000 SH SOLE 260,000
TARGET CORP. COM 87612E106 13,482 290,000 SH SOLE 290,000
TATA MOTORS LTD. ADR SPONSORED ADR 876568502 10,050 1,000,000 SH SOLE 1,000,000
TEVA PHARMACEUTICAL INDU ADR 881624209 16,946 370,000 SH SOLE 370,000
THE COCA-COLA CO. COM 191216100 10,396 200,000 SH SOLE 200,000
TRANSOCEAN INC COM G90073100 3,048 20,000 SH SOLE 20,000
UNILEVER PLC ADR SPON ADR NEW 904767704 22,728 800,000 SH SOLE 800,000
UNITED TECHNOLOGIES COM 913017109 18,510 300,000 SH SOLE 300,000
VISA INC. COM 92826C839 1,626 20,000 SH SOLE 20,000
WACHOVIA CORP. COM 929903102 8,852 570,000 SH SOLE 570,000
WELLS FARGO COMPANY COM 949746101 15,794 665,000 SH SOLE 665,000
WILMINGTON TRUST CORP. COM 971807102 9,598 363,000 SH SOLE 363,000
WINDSTREAM CORP COM 97381W104 3,827 310,178 SH SOLE 310,178
WYETH COMPANY COM 983024100 15,586 325,000 SH SOLE 325,000
ZIMMER HLDGS INC. COM 98956P102 9,526 140,000 SH SOLE 140,000
1,110,127