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, 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:
/s/ Christine M. Sloan Baltimore, MD February 12, 2009
[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).)
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 69
Form 13F Information Table Value Total: $ 751,948
(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.
NONE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
NAME OF ISSUER TITLE OF CUSIP VALUE SHS/PRN SH/ PUT/ INV OTHER VOTING
CLASS 000's AMOUNT PRN CALL DISC MANAGERS AUTHORITY
SOLE SHARED NONE
3M COMPANY COM 88579Y101 9,206 160,000 SH SOLE 160,000
ABBOTT LABS COM 002824100 17,078 320,000 SH SOLE 320,000
AT&T CORP COM 00206R102 11,400 400,000 SH SOLE 400,000
AUTOMATIC DATA PROCES COM 053015103 11,802 300,000 SH SOLE 300,000
AVON PRODUCTS COM 054303102 9,732 405,000 SH SOLE 405,000
BANK OF AMERICA COM 060505104 11,264 800,000 SH SOLE 800,000
BANK OF NEW YORK MELL COM 064058100 11,439 403,775 SH SOLE 403,775
BRISTOL MYERS SQUIBB COM 110122108 8,021 345,000 SH SOLE 345,000
BROADCOM CORP COM 111320107 6,788 400,000 SH SOLE 400,000
BUNGE LTD. COM G16962105 8,283 160,000 SH SOLE 160,000
CHEVRON CORP. COM 166764100 11,096 150,000 SH SOLE 150,000
CINTAS CORP. COM 172908105 6,969 300,000 SH SOLE 300,000
CISCO SYSTEMS COM 17275R102 13,855 850,000 SH SOLE 850,000
COCA-COLA CO. COM 191216100 10,865 240,000 SH SOLE 240,000
CONOCOPHILLIPS COM 20825C104 7,770 150,000 SH SOLE 150,000
CONSOL ENERGY INC. COM 20854P109 5,716 200,000 SH SOLE 200,000
CORNING INC COM 219350105 4,765 500,000 SH SOLE 500,000
CURTISS-WRIGHT CORP COM 231561101 12,020 360,000 SH SOLE 360,000
CVS/CAREMARK CORPORAT COM 126650100 8,191 285,000 SH SOLE 285,000
DEAN FOODS COM 242370104 6,110 340,000 SH SOLE 340,000
DEL MONTE FOODS COM 24522P103 9,282 1,300,000 SH SOLE 1,300,000
DELL INC. COM 24702R101 5,990 585,000 SH SOLE 585,000
DUPONT EI DE NEMOURS COM 263534109 9,108 360,000 SH SOLE 360,000
EMERSON ELECTRIC COM 291011104 10,983 300,000 SH SOLE 300,000
EXXON MOBIL CORP. COM 30231G102 17,163 215,000 SH SOLE 215,000
GENENTECH, INC COM 368710406 18,240 220,000 SH SOLE 220,000
GENERAL ELECTRIC CO. COM 369604103 22,486 1,388,000 SH SOLE 1,388,000
HALLIBURTON CO. COM 406216101 5,454 300,000 SH SOLE 300,000
HANSEN NATURAL CORP. COM 411310105 12,574 375,000 SH SOLE 375,000
HARSCO CORP. COM 415864107 6,920 250,000 SH SOLE 250,000
HOSPIRA INC. COM 441060100 8,046 300,000 SH SOLE 300,000
ILLINOIS TOOL WORKS COM 452308109 8,763 250,000 SH SOLE 250,000
INTEL CORP COM 458140100 12,314 840,000 SH SOLE 840,000
JOHNSON & JOHNSON COM 478160104 15,257 255,000 SH SOLE 255,000
LOWE'S COS INC. COM 548661107 12,912 600,000 SH SOLE 600,000
MASCO CORP COM 574599106 5,009 450,000 SH SOLE 450,000
MCDONALD'S CORP COM 580135101 8,396 135,000 SH SOLE 135,000
MDU RESOURCES GROUP, COM 552690109 12,139 562,500 SH SOLE 562,500
MEDTRONIC INC. COM 585055106 9,740 310,000 SH SOLE 310,000
MICROSOFT CORP COM 594918104 22,939 1,180,000 SH SOLE 1,180,000
NEWELL RUBBERMAID INC COM 651229106 3,912 400,000 SH SOLE 400,000
NORTHEAST UTILITIES COM 664397106 8,421 350,000 SH SOLE 350,000
ORACLE CORP COM 68389X105 19,503 1,100,000 SH SOLE 1,100,000
OSHKOSH CORPORATION COM 688239201 2,934 330,000 SH SOLE 330,000
PEPSI CO. INC. COM 713448108 19,717 360,000 SH SOLE 360,000
PETROLEUM & RESOURCES COM 716549100 42,445 2,186,774 SH SOLE 2,186,774
PFIZER INC COM 717081103 19,835 1,120,000 SH SOLE 1,120,000
PNC FINANCIAL SERVICE COM 693475105 9,800 200,000 SH SOLE 200,000
PROCTER & GAMBLE COMP COM 742718109 19,473 315,000 SH SOLE 315,000
PROSPERITY BANCSHARES COM 743606105 4,734 160,000 SH SOLE 160,000
PRUDENTIAL FINANCIAL COM 744320102 7,111 235,000 SH SOLE 235,000
RYLAND GROUP INC. COM 783764103 6,070 343,500 SH SOLE 343,500
SAFEWAY, INC COM 786514208 9,270 390,000 SH SOLE 390,000
SCHLUMBERGER LTD COM 806857108 5,926 140,000 SH SOLE 140,000
SENOMYX INC. COM 81724Q107 2,746 984,400 SH SOLE 984,400
SPECTRA ENERGY CORP. COM 847560109 4,813 305,780 SH SOLE 305,780
SPIRIT AEROSYSTEMS HO COM 848574109 7,322 720,000 SH SOLE 720,000
STATE STREET CORP. COM 857477103 10,226 260,000 SH SOLE 260,000
TARGET CORP. COM 87612E106 11,050 320,000 SH SOLE 320,000
TATA MOTORS LTD. ADR COM 876568502 4,450 1,000,00 SH SOLE 1,000,000
TEVA PHARMACEUTICAL I ADR 881624209 15,751 370,000 SH SOLE 370,000
TRANSOCEAN LTD SHS H8817H100 7,560 160,000 SH SOLE 160,000
UNILEVER PLC ADR SPON ADR NEW 904767704 18,416 800,000 SH SOLE 800,000
UNITED TECHNOLOGIES COM 913017109 16,080 300,000 SH SOLE 300,000
VISA INC. COM CL A 92826C839 9,441 180,000 SH SOLE 180,000
WELLS FARGO COMPANY COM 949746101 12,529 425,000 SH SOLE 425,000
WILMINGTON TRUST CORP COM 971807102 8,073 363,000 SH SOLE 363,000
WYETH COMPANY COM 983024100 12,191 325,000 SH SOLE 325,000
ZIMMER HLDGS INC. COM 98956P102 6,064 150,000 SH SOLE 150,000
751,948