UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 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. July 20 2001 [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: ____111______ Form 13F Information Table Value Total: $_1,567______ (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 16,803 350,000 SH SOLE 350,000 AFFYMETRIX INC. COM 00826T108 4,631 210,000 SH SOLE 210,000 AFFYMETRIX INC. PUT 00826T958 878 40,000 PUT AMBAC FINANCIAL GROUP, INC. COM 023139108 33,139 569,400 SH SOLE 569,400 AMERICAN HOME PRODUCTS CORP. COM 026609107 17,532 300,000 SH SOLE 300,000 AMERICAN INT'L. GROUP INC. COM 026874107 65,306 759,375 SH SOLE 759,375 AMERICAN TOWER CORP 5% CV DEB 029912AE2 8,000 10,000,000 PRIN SOLE 10,000,000 ANNUITY AND LIFE RE HOLDINGS COM G03910109 18,340 513,000 SH SOLE 513,000 APPLERA CORP. COM 038020103 5,618 210,000 SH SOLE 210,000 APPLERA CORP. PUT 038020952 267 10,000 PUT BMC SOFTWARE INC. COM 055607105 6,987 310,000 SH SOLE 310,000 BP PLC ADRS 055662104 13,460 270,000 SH SOLE 270,000 BANKNORTH GROUP, INC. COM 06646L100 10,736 474,000 SH SOLE 474,000 BAXTER INTERNATIONAL COM 071813109 24,990 510,000 SH SOLE 510,000 BEA SYSTEMS INC. COM 073325102 4,683 152,500 SH SOLE 152,500 BEA SYSTEMS INC. PUT 073325952 2,159 65,000 PUT BELLSOUTH CORP. COM 079860102 17,719 440,000 SH SOLE 440,000 BLACK & DECKER CORP. COM 091797100 11,838 300,000 SH SOLE 300,000 BLACK HILLS CORP. COM 092113109 22,328 555,000 SH SOLE 555,000 CALIPER TECHNOLOGIES COM 130876105 3,684 175,000 SH SOLE 175,000 CALIPER TECHNOLOGIES PUT 130876955 1,050 50,000 PUT CALPINE CORP. COM 131347106 1,512 40,000 SH SOLE 40,000 CALPINE CORP CALL 131347906 756 20,000 CALL CALPINE CORP PUT 131347956 900 20,000 PUT CALPINE CAPITAL TRUST PFD 131346207 24,285 182,250 SH SOLE 182,250 CANADIAN NATIONAL RAILWAY. COM 136375102 3,443 85,000 SH SOLE 85,000 CANADIAN NATIONAL RAILWAY 5.25% PFD QUIDS 136375409 9,571 170,000 SH SOLE 170,000 CINERGY CORP. COM 172474108 10,485 300,000 SH SOLE 300,000 CISCO SYSTEMS, INC. COM 17275R102 33,397 1,835,000 SH SOLE 1,835,000 CITIGROUP INC. COM 172967101 21,190 401,023 SH SOLE 401,023 COCA-COLA CO. COM 191216100 7,650 170,000 SH SOLE 170,000 CORNING, INC. COM 219350105 19,551 1,170,000 SH SOLE 1,170,000 DEAN FOODS CO. COM 242361103 12,060 300,000 SH SOLE 300,000 DIAMONDCLUSTER INTER. COM 252762109 5,697 447,500 SH SOLE 447,500 DIAMONDCLUSTER INTER. PUT 25278P956 636 50,000 PUT DUKE ENERGY CORP COM 264399106 13,849 355,000 SH SOLE 355,000 DUKE ENERGY 8.25% UNITS PFD 264399585 10,260 400,000 SH SOLE 400,000 ELAN CORP. PLC ADRS 284131208 33,550 550,000 SH SOLE 550,000 ENGELHARD CORP. COM 292845104 13,669 530,000 SH SOLE 530,000 ENRON CORP. COM 293561106 22,050 450,000 SH SOLE 450,000 ENRON CORP. CALL 293561906 735 15,000 CALL ERICSSON (L.M.) TELEPHONE CO. COM 294821400 16,983 3,133,333 SH SOLE 3,133,333 EXXON MOBIL CORP. COM 30231G102 13,838 158,418 SH SOLE 158,418 FEDERAL HOME LOAN MORTGAGE CORP. COM 313400301 24,150 345,000 SH SOLE 345,000 GENENTECH, INC. COM 368710406 20,662 375,000 SH SOLE 375,000 GENENTECH, INC. PUT 368710956 1,377 25,000 PUT GENERAL ELECTRIC CO. COM 369604103 90,431 1,855,000 SH SOLE 1,855,000 GLAXOSMITHKLINE PLC COM 37733W105 14,070 250,360 SH SOLE 250,360 GLOBAL CROSSING LTD COM G3921A100 5,564 644,000 SH SOLE 644,000 GLOBAL CROSSING 5.75% CV PFD G3921A134 4,620 40,000 SH SOLE 40,000 GREENPOINT FINANCIAL CORP. COM 395384100 16,704 435,000 SH SOLE 435,000 HCA INC. COM 404119109 8,134 180,000 SH SOLE 180,000 HUMAN GENOME SCIENCES COM 444903108 12,050 200,000 SH SOLE 200,000 ITT INDUSTRIES COM 450911102 15,709 355,000 SH SOLE 355,000 ITT INDUSTRIES PUT 450911952 885 20,000 PUT INTEL CORP. COM 458140100 20,182 690,000 SH SOLE 690,000 INVESTORS FINANCIAL SERV. CORP. COM 461915100 37,420 558,500 SH SOLE 558,500 INVESTORS FINANCIAL SERV. CORP. CALL 461915901 2,697 40,000 CALL IVEX PACKAGING CORP. COM 465855104 13,300 700,000 SH SOLE 700,000 JOHNSON & JOHNSON COM 478160104 18,000 360,000 SH SOLE 360,000 KEYSPAN CORP. COM 49337W100 14,592 400,000 SH SOLE 400,000 LILLY (ELI) & CO. COM 532457108 14,060 190,000 SH SOLE 190,000 LUCENT TECHNOLOGIES INC. COM 549463107 3,155 508,920 SH SOLE 508,920 MEAD CORP. COM 582834107 10,856 400,000 SH SOLE 400,000 MEADIAONE GROUP, INC. 6.25% DUE 2001 PIES 58440J401 4,861 85,000 SH SOLE 85,000 MELLON BANK CORP. COM 585509102 19,320 420,000 SH SOLE 420,000 MERCK & CO., INC. COM 589331107 15,977 250,000 SH SOLE 250,000 MERCK & CO., INC. CALL 589331907 959 15,000 CALL MINNESOTA MINING & MFG COM 604059105 32,519 285,000 SH SOLE 285,000 MIRANT CORP COM 604675108 13,760 400,000 SOLE 400,000 MOTOROLA, INC. COM 620076109 8,207 495,622 SH SOLE 495,622 NEXTEL COMMUNICATIONS, INC. COM 65332V103 18,200 1,040,000 SH SOLE 1,040,000 NEXTEL COMM, INC. 5.25%DUE 1/15/2010 DEB 65332VAW3 6,112 10,000,000 PRIN SOLE 10,000,000 NOKIA CORP. PFD ADRS 654902204 40,554 1,840,000 SH SOLE 1,840,000 NOKIA CORP. PFD CALL 654902801 1,653 75,000 CALL NORTEL NETWORKS LTD COM 656569100 5,454 600,000 SH SOLE 600,000 NORTHWESTERN CORP. COM 668074107 11,200 500,000 SH SOLE 500,000 ORACLE CORP COM 68389X105 22,420 1,180,000 SH SOLE 1,180,000 ORION POWER HOLDINGS COM 686286105 17,857 750,000 SH SOLE 750,000 ORION POWER HOLDINGS PUT 686286951 167 7,000 PUT PALL CORP. COM 696429307 14,118 600,000 SH SOLE 600,000 PEPSICO, INC. COM 713448108 13,039 295,000 SH SOLE 295,000 PETROLEUM & RESOURCES CORP. COM 716549100 52,150 1,913,761 SH SOLE 1,913,761 PHARMACIA CORP. COM 71713U102 16,951 368,900 SH SOLE 368,900 PROCTER & GAMBLE CO. COM 742718109 10,846 170,000 SH SOLE 170,000 PROVIDENT BANKSHARES CORP. COM 743859100 8,355 335,021 SH SOLE 335,021 QRS CORP. COM 74726X105 8,798 530,000 SH SOLE 530,000 QWEST COMM. INTL INC 5.75% DUE 2003 TRENDS 74912L105 30,263 538,000 SH SOLE 538,000 RCN CORP COM 749361101 1,537 280,000 SH SOLE 280,000 SBC COMMUNICATIONS INC. COM 78387G103 31,566 787,960 SH SOLE 787,960 SAPIENT CORP COM 803062108 11,212 1,150,000 SH SOLE 1,150,000 SCHLUMBERGER, LTD COM 806857108 4,654 88,400 SH SOLE 88,400 SIEBEL SYSTEMS INC. COM 826170102 4,690 100,000 SH SOLE 100,000 SIEBEL SYSTEMS INC. PUT 926170952 1,426 30,000 PUT SOLECTRON CORP. COM 834182107 36,600 2,000,000 SH SOLE 2,000,000 SUN MICROSYSTEMS INC. COM 866810104 7,860 500,000 SH SOLE 500,000 SYMANTEC CORP. COM 871503108 7,973 182,500 SH SOLE 182,500 TECO ENERGY, INC COM 872375100 19,825 650,000 SH SOLE 650,000 TIFFANY & COMPANY COM 886547108 12,677 350,000 SH SOLE 350,000 TIME WARNER TELECOM COM 887319101 13,559 404,500 SH SOLE 404,500 UNITED PARCEL SERVICE COM 911312106 15,317 265,000 SH SOLE 265,000 UNITED TECHNOLOGIES COM 913017109 28,571 390,000 SH SOLE 390,000 VERTEX PHARMACEUTICALS INC. COM 92532F993 12,277 248,016 SH SOLE 248,016 VODAFONE AIRTOUCH PLC ADRS 92857T107 6,425 287,500 SH SOLE 287,500 WACHOVIA CORP. COM 929771103 13,519 190,000 SH SOLE 190,000 WELLS FARGO & CO. COM 949746101 25,537 550,000 SH SOLE 550,000 WILLIAMS COMMUNICATIONS GROUP INC. COM 969455104 2,688 911,200 SH SOLE 911,200 WILLIAMS COMPANIES, INC. COM 969457100 16,475 500,000 SH SOLE 500,000 WILMINGTON TRUST CORP. COM 971807102 13,157 210,000 SH SOLE 210,000 WORLDCOM, INC. COM 98157D106 8,810 550,000 SH SOLE 550,000 MCI GROUP INC COM 98157D304 354 22,000 SH SOLE 22,000 1,567,737