UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2001
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: __(401) 752-5900________
Signature, Place, and Date of Signing:
__(signed)_Christine M. Sloan Baltimore, Md. April 16 2000
[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 reporting
manager(s).)
[ ] 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:
[If there are no entries in this list, omit this section.]
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: ____115______
Form 13F Information Table Value Total: $_1,597______
(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 13F File Number Name
____ 28- NONE____________ ________________________
[Repeat as necessary.]
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COL. 6 COLUMN 7 COLUMN 8
------------------------------- -------- -------- -------- ------------------ ------ -------- ----------------------
TITLE OF VALUE - OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) INVSTM MANAGERS
T
DSCRET
N
SHARES/ SH/P PUT/ VOTING AUTHORITY
PRIN.AMT RN CALL
SOLE SHARE NONE
D
ABBOTT LABORATORIES COM 002824100 12,033 255,000 SH SOLE 255,000
ALZA CORPORATION COM 022615108 19,440 480,000 SH SOLE 480,000
AMBAC FINANCIAL GROUP, INC. COM 023139108 36,117 569,400 SH SOLE 569,400
AMBAC FINANCIAL GROUP, INC. CALL 023139908 444 7,000 CALL
AMERICAN HOME PRODUCTS CORP. COM 026609107 17,625 300,000 SH SOLE 300,000
AMERICAN INT'L. GROUP INC. COM 026874107 61,130 759,375 SH SOLE 759,375
AMERICAN TOWER CORP 5% CV DEB 029912AE2 8,050 10,000,000 PRIN SOLE 10,000,000
ANNUITY AND LIFE RE (HOLDINGS), LTD. COM G03910109 20,676 695,000 SH SOLE 695,000
BMC SOFTWARE INC. COM 055607105 6,665 310,000 SH SOLE 310,000
BP AMOCO PLC SPN ADRS 055662104 13,397 270,000 ADR SOLE 270,000
BANKNORTH GROUP, INC. COM 06646L100 9,421 474,000 SH SOLE 474,000
BAXTER INTERNATIONAL COM 071813109 24,006 255,000 SH SOLE 255,000
BELLSOUTH CORP. COM 079860102 18,004 440,000 SH SOLE 440,000
BLACK & DECKER CORP. COM 091797100 11,025 300,000 SH SOLE 300,000
BLACK HILLS CORP. COM 092113109 25,369 555,000 SH SOLE 555,000
CALPINE CORP. COM 131347106 2,754 50,000 SH SOLE 50,000
CALPINE CORP CALL 131347906 826 15,000 CALL
CALPINE CAPITAL TRUST PFD 131346207 39,639 202,500 SH SOLE 202,500
CANADIAN NATIONAL RAILWAY. COM 136375102 3,202 85,000 SH SOLE 85,000
CANADIAN NATIONAL RAILWAY 5.25% PFD QUIDS 136375409 9,129 170,000 SH SOLE 170,000
CINERGY CORP. COM 172474108 10,065 300,000 SH SOLE 300,000
CISCO SYSTEMS, INC. COM 17275R102 29,016 1,835,000 SH SOLE 1,835,000
CITIGROUP INC. COM 172967101 18,038 401,023 SH SOLE 401,023
COCA-COLA CO. COM 191216100 7,677 170,000 SH SOLE 170,000
CORNING, INC. COM 219350105 24,207 1,170,000 SH SOLE 1,170,000
CORNING, INC CALL 219350905 2483 120,000 CALL
DEAN FOODS CO. COM 242361103 10,158 300,000 SH SOLE 300,000
DIAMONDCLUSTER INTER. COM 252762109 2,606 300,000 SH SOLE 300,000
DUKE ENERGY CORP COM 264399106 15,173 355,000 SH SOLE 355,000
DUKE ENERGY 8.25% UNITS PFD 264399585 10,900 400,000 SH SOLE 400,000
ELAN CORP. PLC ADRS 284131208 28,737 550,000 SH SOLE 550,000
ENGELHARD CORP. COM 292845104 13,706 530,000 SH SOLE 530,000
ENRON CORP. COM 293561106 26,145 450,000 SH SOLE 450,000
ENRON CORP. CALL 293561906 4,648 80,000 CALL
ERICSSON (L.M.) TELEPHONE CO. COM 294821400 17,527 3,133,333 SH SOLE 3,133,333
EXXON MOBIL CORP. COM 30231G102 12,832 158,418 SH SOLE 158,418
FEDERAL HOME LOAN MORTGAGE CORP. COM 313400301 22,366 345,000 SH SOLE 345,000
FIRST DATA CORP. COM 319963104 10,449 175,000 SH SOLE 175,000
FIRST DATA CORP. CALL 319963904 2,985 50,000 CALL
GENENTECH, INC. COM 368710406 13,635 270,000 SH SOLE 270,000
GENENTECH, INC. PUT 368710956 6,565 130,000 PUT
GENERAL ELECTRIC CO. COM 369604103 77,650 1,855,000 SH SOLE 1,855,000
GLAXOSMITHKLINE PLC COM 37733W105 13,094 250,360 SH SOLE 250,360
GLOBAL CROSSING LTD COM G3921A100 8,688 644,000 SH SOLE 644,000
GLOBAL CROSSING 5.75% CV PFD G3921A134 6,020 40,000 SH SOLE 40,000
GREENPOINT FINANCIAL CORP. COM 395384100 14,181 435,000 SH SOLE 435,000
HUMAN GENOME SCIENCES COM 444903108 9,200 200,000 SH SOLE 200,000
HUMAN GENOME SCIENCES PUT 444903958 920 20,000 PUT
ITT INDUSTRIES COM 450911102 13,756 355,000 SH SOLE 355,000
ITT INDUSTRIES PUT 450911952 1,163 30,000 PUT
INTEL CORP. COM 458140100 18,155 690,000 SH SOLE 690,000
INVESTORS FINANCIAL SERV. CORP. COM 461915100 36,934 630,000 SH SOLE 630,000
INESTORES FINANCIAL SERV. CORP. CALL 461915901 4,690 80,000 CALL
IVEX PACKAGING CORP. COM 465855104 12,760 928,000 SH SOLE 928,000
JOHNSON & JOHNSON COM 478160104 15,745 180,000 SH SOLE 180,000
KEYSPAN CORP. COM 49337W100 15,252 400,000 SH SOLE 400,000
LILLY (ELI) & CO. COM 532457108 14,565 190,000 SH SOLE 190,000
LILLY (ELI) & CO. CALL 532458908 1,150 15,000 CALL
LUCENT TECHNOLOGIES INC. COM 549463107 5,074 508,920 SH SOLE 508,920
MEAD CORP. COM 582834107 10,036 400,000 SH SOLE 400,000
MEADIAONE GROUP, INC. 6.25% DUE 2001 PIES 58440J401 5,593 85,000 SH SOLE 85,000
MELLON BANK CORP. COM 585509102 17,018 420,000 SH SOLE 420,000
MERCK & CO., INC. COM 589331107 18,975 250,000 SH SOLE 250,000
MERCK & CO., INC. CALL 589331907 1,138 15,000 CALL
MINNESOTA MINING & MFG COM 604059105 29,612 285,000 SH SOLE 285,000
MINNESOTA MINING & MFG PUT 604059955 1,039 10,000 PUT
MIRANT CORP COM 604675108 11,005 310,000 SOLE 310,000
MIRANT CORP PUT 604675951 1,491 42,000 PUT
MOTOROLA, INC. COM 620076109 7,068 495,622 SH SOLE 495,622
NEXTEL COMMUNICATIONS, INC. COM 65332V103 14,950 1,040,000 SH SOLE 1,040,000
NEXTEL COMM, INC. 5.25%DUE 1/15/2010 DEB 65332VAW3 6,413 10,000,000 PRIN SOLE 10,000,000
NOKIA CORP. PFD ADRS 654902204 44,160 1,840,000 SH SOLE 1,840,000
NOKIA CORP. PFD CALL 654902801 1,800 75,000 CALL
NORTEL NETWORKS LTD COM 656569100 20,935 1,490,000 SH SOLE 1,490,000
NORTEL NETWORKS LTD. CALL 656568902 351 25,000 CALL
NORTHWESTERN CORP. COM 668074107 12,250 500,000 SH SOLE 500,000
ORACLE CORP COM 68389X105 17,676 1,180,000 SH SOLE 1,180,000
ORION POWER HOLDINGS COM 686286105 23,025 750,000 SH SOLE 750,000
ORION POWER HOLDINGS PUT 686286951 215 7,000 PUT
PALL CORP. COM 696429307 13,152 600,000 SH SOLE 600,000
PEPSICO, INC. COM 713448108 12,965 295,000 SH SOLE 295,000
PETROLEUM & RESOURCES CORP. COM 716549100 52,054 1,913,761 SH SOLE 1,913,761
PHARMACIA CORP. COM 71713U102 18,581 368,900 SH SOLE 368,900
PROCTER & GAMBLE CO. COM 742718109 10,016 160,000 SH SOLE 160,000
PROCTER & GAMBLE CO. PUT 742718959 1,565 25,000 PUT
PROVIDENT BANKSHARES CORP. COM 743859100 7,139 319,068 SH SOLE 319,068
QRS CORP. COM 74726X105 4,973 585,000 SH SOLE 585,000
QWEST COMM. INTL INC 5.75% DUE 2003 TRENDS 74912L105 32,616 538,000 SH SOLE 538,000
RCN CORP COM 749361101 1,689 280,000 SH SOLE 280,000
SBC COMMUNICATIONS INC. COM 78387G103 35,167 787,960 SH SOLE 787,960
SAPIENT CORP COM 803062108 8,266 1,150,000 SH SOLE 1,150,000
SAPIENT CORP CALL 803062908 467 65,000 CALL
SCHLUMBERGER, LTD COM 806857108 5,093 88,400 SH SOLE 88,400
SOLECTRON CORP. COM 834182107 38,020 2,000,000 SH SOLE 2,000,000
SOLECTRON CORP. CALL 834182907 475 25,000
SUN MICROSYSTEMS INC. COM 866810104 7,378 480,000 SH SOLE 480,000
SUN MICROSYSTEMS INC. PUT 866810954 158 10,000 PUT
SYMANTEC CORP. COM 871503108 9,303 222,500 SH SOLE 222,500
TECO ENERGY, INC COM 872375100 19,474 650,000 SH SOLE 650,000
TIFFANY & COMPANY COM 886547108 9,538 350,000 SH SOLE 350,000
TIFFANY & COMPANY CALL 886547908 273 10,000 CALL
TIME WARNER TELECOM COM 887319101 14,714 404,500 SH SOLE 404,500
UNITED PARCEL SERVICE COM 911312106 14,509 255,000 SH SOLE 255,000
UNITED PARCEL SERVICE PUT 911312956 1,707 30,000 PUT
UNITED TECHNOLOGIES COM 913017109 28,587 390,000 SH SOLE 390,000
UNITED TECHNOLOGIES PUT 913017959 2,199 30,000 PUT
VERTEX PHARMACEUTICALS INC. COM 92532F993 9,084 248,016 SH SOLE 248,016
VODAFONE AIRTOUCH PLC ADRS 92857T107 7,806 287,500 SH SOLE 287,500
WACHOVIA CORP. COM 929771103 11,448 190,000 SH SOLE 190,000
WACHOVIA CORP. CALL 929771903 602 10,000 CALL
WELLS FARGO & CO. COM 949746101 27,208 550,000 SH SOLE 550,000
WILLIAMS COMMUNICATIONS GROUP INC. COM 969455104 4,500 500,000 SH SOLE 500,000
WILLIAMS COMPANIES, INC. COM 969457100 21,425 500,000 SH SOLE 500,000
WILMINGTON TRUST CORP. COM 971807102 12,407 210,000 SH SOLE 210,000
WORLDCOM, INC. COM 98157D106 10,278 550,000 SH SOLE 550,000
1,597,453