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, 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 April 21, 2005
[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: 87
Form 13F Information Table Value Total: $ 1,227,821
(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 6COLUMN 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 SHAREDNONE
PRN CALLDISCRETN
>C>
3M COMPANY COM 88579Y101 13,710 160,000 SH SOLE 160,000
ABBOTT LABS COM 002824100 16,317 350,000 SH SOLE 350,000
AIR PRODUCTS & CHEMICALS COM 009158106 15,823 250,000 SH SOLE 250,000
ALLTEL CORP. COM 020039103 19,198 350,000 SH SOLE 350,000
AMBAC FINANCIAL GROUP COM 023139108 28,405 380,000 SH SOLE 380,000
AMERICAN INT'L GROUP INC COM 026874107 30,475 550,000 SH SOLE 550,000
AQUA AMERICA, INC. COM 03836W103 21,915 900,000 SH SOLE 900,000
AUTOMATIC DATA PROCESSIN COM 053015103 10,114 225,000 SH SOLE 225,000
AVAYA INC. COM 053499109 7,008 600,000 SH SOLE 600,000
BANK OF AMERICA COM 060505104 22,050 500,000 SH SOLE 500,000
BANKATLANTIC BANCORP CL A 065908501 3,828 220,000 SH SOLE 220,000
BEA SYSTEMS INC. COM 073325102 6,376 800,000 SH SOLE 800,000
BELLSOUTH CORP COM 079860102 5,258 200,000 SH SOLE 200,000
BJ WHOLESALE CLUB COM 05548J106 15,530 500,000 SH SOLE 500,000
BLACK HILLS CORP COM 092113109 8,102 245,000 SH SOLE 245,000
BP P.L.C. SPONSORED ADR 055622104 16,848 270,000 SH SOLE 270,000
BRINKER INTL INC COM 109641100 14,488 400,000 SH SOLE 400,000
BRISTOL MYERS SQUIBB COM 110122108 8,784 345,000 SH SOLE 345,000
BUNGE LTD. COM G16962105 9,160 170,000 SH SOLE 170,000
CANADIAN NATIONAL RAILWA COM 136375102 8,547 135,000 SH SOLE 135,000
CINERGY CORP COM 172474108 12,156 300,000 SH SOLE 300,000
CINTAS CORP. COM 172908105 12,393 300,000 SH SOLE 300,000
CISCO SYSTEMS COM 17275R102 21,468 1,200,000 SH SOLE 1,200,000
CLEAR CHANNEL COMMUNICAT COM 184502102 11,203 325,000 SH SOLE 325,000
COMCAST CORP. CL A 20030N101 10,978 325,000 SH SOLE 325,000
COMPASS BANKSHARES INC. COM 20449H109 13,620 300,000 SH SOLE 300,000
CONOCOPHILLIPS COM 20825C104 20,490 190,000 SH SOLE 190,000
CORNING INC COM 219350105 13,022 1,170,000 SH SOLE 1,170,000
CREE INC. COM 225447101 10,875 500,000 SH SOLE 500,000
DEAN FOODS COM 242370104 17,376 506,600 SH SOLE 506,600
DEL MONTE FOODS COM 24522P103 11,230 1,035,000 SH SOLE 1,035,000
DELL INC. COM 24702R101 15,368 400,000 SH SOLE 400,000
DIAMONDCLUSTER INTERNATI COM 25278P106 8,010 497,500 SH SOLE 497,500
DONNELLEY R R & SONS CO. COM 257867101 9,486 300,000 SH SOLE 300,000
DUKE ENERGY CORP. COM 264399106 17,130 611,560 SH SOLE 611,560
DUPONT EI DE NEMOURS COM 263534109 20,496 400,000 SH SOLE 400,000
EMERSON ELECTRIC COM 291011104 12,986 200,000 SH SOLE 200,000
ENZON PHARMACEUTICALS IN COM 293904108 684 67,088 SH SOLE 67,088
EXXON MOBIL CORP. COM 30231G102 7,748 130,000 SH SOLE 130,000
FIFTH THIRD BANC COM 316773100 8,596 200,000 SH SOLE 200,000
GANNETT INC. COM 364730101 6,920 87,500 SH SOLE 87,500
GENENTECH, INC COM 368710406 14,153 250,000 SH SOLE 250,000
GENERAL ELECTRIC CO. COM 369604103 53,646 1,487,700 SH SOLE 1,487,700
HCA INC. COM 404119109 18,482 345,000 SH SOLE 345,000
ILLINOIS TOOL WORKS COM 452308109 11,191 125,000 SH SOLE 125,000
INTEL CORP COM 458140100 7,201 310,000 SH SOLE 310,000
INVESTORS FINANCIAL SERV COM 461915100 18,586 380,000 SH SOLE 380,000
JOHNSON & JOHNSON COM 478160104 17,797 265,000 SH SOLE 265,000
KEYSPAN CORP. COM 49337W100 5,456 140,000 SH SOLE 140,000
LAB CORP. OF AMERICA COM 50540R409 11,568 240,000 SH SOLE 240,000
LUCENT TECHNOLOGIES COM 549463107 7,975 2,900,000 SH SOLE 2,900,000
MARTIN MARIETTA MATERIAL COM 573284106 7,918 141,600 SH SOLE 141,600
MDU RESOURCES GROUP, INC COM 552690109 15,882 575,000 SH SOLE 575,000
MEDIMMUNE INC. COM 584699102 5,357 225,000 SH SOLE 225,000
MEDTRONIC INC. COM 585055106 15,794 310,000 SH SOLE 310,000
MICROSOFT CORP COM 594918104 19,336 800,000 SH SOLE 800,000
MURPHY OIL CORP. COM 626717102 15,826 160,300 SH SOLE 160,300
NEWELL RUBBERMAID INC. COM 651229106 11,299 515,000 SH SOLE 515,000
NORTHFORK BANKCORP COM 659424105 12,483 450,000 SH SOLE 450,000
ORACLE CORP COM 68389X105 10,982 880,000 SH SOLE 880,000
PEPSI CO. INC. COM 713448108 23,333 440,000 SH SOLE 440,000
PETROLEUM & RESOURCES CO COM 716549100 57,256 1,985,996 SH SOLE 1,985,996
PFIZER INC COM 717081103 29,422 1,120,000 SH SOLE 1,120,000
PROCTER & GAMBLE COMPANY COM 742718109 18,020 340,000 SH SOLE 340,000
PROVIDENT BANKSHARES COR COM 743859100 11,042 335,021 SH SOLE 335,021
ROHM & HAAS CO. COM 775371107 19,200 400,000 SH SOLE 400,000
RYLAND GROUP INC. COM 783764103 1,240 20,000 SH SOLE 20,000
SAFEWAY, INC COM 786514208 7,838 423,000 SH SOLE 423,000
SAPIENT CORP COM 803062108 8,447 1,150,000 SH SOLE 1,150,000
SBC COMMUNICATIONS COM 78387G103 14,096 595,000 SH SOLE 595,000
SCHLUMBERGER LTD COM 806857108 13,391 190,000 SH SOLE 190,000
SIEBEL SYSTEMS INC. COM 826170102 7,304 800,000 SH SOLE 800,000
SMURFIT-STONE CONTAINER COM 832727101 10,056 650,000 SH SOLE 650,000
SOLECTRON CORP COM 834182107 6,420 1,850,000 SH SOLE 1,850,000
SUN MICROSYSTEMS INC. COM 866810104 1,656 410,000 SH SOLE 410,000
SYMANTEC CORP. COM 871503108 8,532 400,000 SH SOLE 400,000
TARGET CORP. COM 87612E106 23,009 460,000 SH SOLE 460,000
THE COCA-COLA CO. COM 191216100 8,334 200,000 SH SOLE 200,000
UNILEVER PLC ADR SPON ADR NEW 904767704 13,800 345,000 SH SOLE 345,000
UNITED PARCEL SERVICES, COM CL B 911312106 10,547 145,000 SH SOLE 145,000
UNITED TECHNOLOGIES COM 913017109 15,757 155,000 SH SOLE 155,000
VODAFONE GROUP PLC SPONSORED ADR 92857W100 13,084 492,613 SH SOLE 492,613
WACHOVIA CORP. NEW COM 929903102 18,837 370,000 SH SOLE 370,000
WELLS FARGO COMPANY COM 949746101 23,920 400,000 SH SOLE 400,000
WILMINGTON TRUST CORP. COM 971807102 14,742 420,000 SH SOLE 420,000
WYETH COMPANY COM 983024100 13,708 325,000 SH SOLE 325,000
ZIMMER HLDGS INC. COM 98956P102 9,726 125,000 SH SOLE 125,000
1,227,821