UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 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. October 19 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: ____101______ Form 13F Information Table Value Total: $_1,291______ (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 18,147 350,000 SH SOLE 350,000 AFFYMETRIX INC. COM 00826T108 3,371 210,000 SH SOLE 210,000 AMBAC FINANCIAL GROUP, INC. COM 023139108 31,152 569,400 SH SOLE 569,400 AMERICAN HOME PRODUCTS CORP. COM 026609107 17,475 300,000 SH SOLE 300,000 AMERICAN INT'L. GROUP INC. COM 026874107 59,231 759,375 SH SOLE 759,375 AMERICAN TOWER CORP 5% CV DEB 029912AE2 7,100 10,000,000 PRIN SOLE 10,000,000 ANNUITY AND LIFE RE HOLDINGS COM G03910109 16,975 500,000 SH SOLE 500,000 APPLERA CORP. COM 038020103 5,124 210,000 SH SOLE 210,000 BJ WHOLESALE CLUB COM 05548J106 15,711 330,000 SH SOLE 330,000 BMC SOFTWARE INC. COM 055921100 3,937 310,000 SH SOLE 310,000 BP PLC ADRS 055622104 13,276 270,000 SH SOLE 270,000 BANKNORTH GROUP, INC. COM 06646R107 10,580 474,000 SH SOLE 474,000 BAXTER INTERNATIONAL COM 071813109 28,075 510,000 SH SOLE 510,000 BEA SYSTEMS INC. COM 073325102 3,548 370,000 SH SOLE 370,000 BELLSOUTH CORP. COM 079860102 18,282 440,000 SH SOLE 440,000 BLACK & DECKER CORP. COM 091797100 9,360 300,000 SH SOLE 300,000 BLACK HILLS CORP. COM 092113109 16,939 555,000 SH SOLE 555,000 BRISTOL MYERS SQUIBB COM 110122108 5,834 105,000 SH SOLE 105,000 CALIPER TECHNOLOGIES COM 130876105 1,857 200,800 SH SOLE 200,800 CALIPER TECHNOLOGIES PUT 130876905 224 24,200 PUT CALPINE CORP. COM 131347106 912 40,000 SH SOLE 40,000 CALPINE CAPITAL TRUST PFD 131346207 13,395 182,250 SH SOLE 182,250 CANADIAN NATIONAL RAILWAY. COM 136375102 3,234 85,000 SH SOLE 85,000 CANADIAN NATIONAL RAILWAY 5.25% PFD QUIDS 136375409 9,233 170,000 SH SOLE 170,000 CINERGY CORP. COM 172474108 9,261 300,000 SH SOLE 300,000 CISCO SYSTEMS, INC. COM 17275R102 22,350 1,835,000 SH SOLE 1,835,000 CISCO SYTEMS, INC. CALL 17275R102 609 50,000 CALL CITIGROUP INC. COM 172967101 16,241 401,023 SH SOLE 401,023 COCA-COLA CO. COM 191216100 7,965 170,000 SH SOLE 170,000 CORNING, INC. COM 219350105 10,319 1,170,000 SH SOLE 1,170,000 CORNING, INC. CALL 219350901 441 50,000 CALL DEAN FOODS CO. COM 242361103 13,875 300,000 SH SOLE 300,000 DIAMONDCLUSTER INTER. COM 25278P106 4,654 472,500 SH SOLE 472,500 DIAMONDCLUSTER INTER. PUT 25278P956 246 25,000 PUT DUKE ENERGY CORP COM 264399106 13,437 355,000 SH SOLE 355,000 DUKE ENERGY 8.25% UNITS PFD 264399585 10,520 400,000 SH SOLE 400,000 ELAN CORP. PLC ADRS 284131208 26,647 550,000 SH SOLE 550,000 ENGELHARD CORP. COM 292845104 12,243 530,000 SH SOLE 530,000 ENRON CORP. COM 293561106 12,254 450,000 SH SOLE 450,000 ERICSSON (L.M.) TELEPHONE CO. COM 294821400 6,980 2,000,000 SH SOLE 2,000,000 EXXON MOBIL CORP. COM 30231G102 12,483 316,836 SH SOLE 316,836 FEDERAL HOME LOAN MORTGAGE CORP. COM 313400301 22,425 345,000 SH SOLE 345,000 GENENTECH, INC. COM 368710406 17,600 400,000 SH SOLE 400,000 GENERAL ELECTRIC CO. COM 369604103 61,380 1,650,000 SH SOLE 1,650,000 GLAXOSMITHKLINE PLC COM 37733W105 14,050 250,360 SH SOLE 250,360 GLOBAL CROSSING 6.75% CV PFD G3921A134 1,400 40,000 SH SOLE 40,000 GREENPOINT FINANCIAL CORP. COM 395384100 15,268 435,000 SH SOLE 435,000 HCA INC. COM 404119109 17,281 390,000 SH SOLE 390,000 HERSHEY FOODS CORP COM 427866108 7,191 110,000 SH SOLE 110,000 HUMAN GENOME SCIENCES COM 444903108 6,162 200,000 SH SOLE 200,000 ITT INDUSTRIES COM 450911102 15,904 355,000 SH SOLE 355,000 INTEL CORP. COM 458140100 14,069 690,000 SH SOLE 690,000 INVESTORS FINANCIAL SERV. CORP. COM 461915100 29,396 510,000 SH SOLE 510,000 INVESTORS FINANCIAL SERV. CORP. CALL 461915901 2,594 45,000 CALL IVEX PACKAGING CORP. COM 465855104 8,866 520,000 SH SOLE 520,000 JOHNSON & JOHNSON COM 478160104 19,944 360,000 SH SOLE 360,000 KEYSPAN CORP. COM 49337W100 13,296 400,000 SH SOLE 400,000 LILLY (ELI) & CO. COM 532457108 15,333 190,000 SH SOLE 190,000 LUCENT TECHNOLOGIES INC. COM 549463107 2,292 400,000 SH SOLE 400,000 MEAD CORP. COM 582834107 11,072 400,000 SH SOLE 400,000 MELLON BANK CORP. COM 58551A108 13,579 420,000 SH SOLE 420,000 MERCK & CO., INC. COM 589331107 16,650 250,000 SH SOLE 250,000 MINNESOTA MINING & MFG COM 604059105 28,044 285,000 SH SOLE 285,000 MIRANT CORP COM 604675108 8,760 400,000 SH SOLE 400,000 MOTOROLA, INC. COM 620076109 7,732 495,622 SH SOLE 495,622 NEXTEL COMMUNICATIONS, INC. COM 65332V103 9,006 1,040,000 SH SOLE 1,040,000 NEXTEL COMM, INC. 5.25%DUE 1/15/2010 DEB 65332VA49 4,738 10,000,000 PRIN SOLE 10,000,000 NOKIA CORP. PFD ADRS 654902204 28,796 1,840,000 SH SOLE 1,840,000 NOKIA CORP. PFD CALL 654902801 704 45,000 CALL NORTHWESTERN CORP. COM 668074107 11,000 500,000 SH SOLE 500,000 ORACLE CORP COM 68389X105 14,844 1,180,000 SH SOLE 1,180,000 ORION POWER HOLDINGS COM 686286105 18,156 712,000 SH SOLE 712,000 PEPSICO, INC. COM 713448108 15,278 315,000 SH SOLE 315,000 PETROLEUM & RESOURCES CORP. COM 716549100 43,366 1,913,761 SH SOLE 1,913,761 PFIZER,INC. COM 717081103 6,617 165,000 SH SOLE 165,000 PHARMACIA CORP. COM 71713U102 14,962 368,900 SH SOLE 368,900 PHILADELPHIA SUBURBAN CORP COM 718009608 3,466 132,000 SH SOLE 132,000 PROCTER & GAMBLE CO. COM 742718109 12,374 170,000 SH SOLE 170,000 PROVIDENT BANKSHARES CORP. COM 743859100 6,935 335,021 SH SOLE 335,021 QRS CORP. COM 74726X105 3,507 417,500 SH SOLE 417,500 QWEST COMM. INTL INC 5.75% DUE 2003 TRENDS 74912L105 18,427 538,000 SH SOLE 538,000 RCN CORP COM 749361101 896 280,000 SH SOLE 280,000 SBC COMMUNICATIONS INC. COM 78387G103 32,984 700,000 SH SOLE 700,000 SAPIENT CORP COM 803062108 4,428 1,150,000 SH SOLE 1,150,000 SIEBEL SYSTEMS INC. COM 826170102 2,537 195,000 SH SOLE 195,000 SIEBEL SYSTEMS INC. PUT 926170952 195 15,000 PUT SOLECTRON CORP. COM 834182107 23,300 2,000,000 SH SOLE 2,000,000 SUN MICROSYSTEMS INC. COM 866810104 4,259 515,000 SH SOLE 515,000 SYMANTEC CORP. COM 871503108 6,327 182,500 SH SOLE 182,500 TECO ENERGY, INC COM 872375100 17,615 650,000 SH SOLE 650,000 TIFFANY & COMPANY COM 886547108 7,578 350,000 SH SOLE 350,000 TIME WARNER TELECOM COM 887319101 2,933 404,500 SH SOLE 404,500 UNITED PARCEL SERVICE COM 911312106 15,594 300,000 SH SOLE 300,000 UNITED PARCEL SERVICE PUT 911312905 780 15,000 PUT UNITED TECHNOLOGIES COM 913017109 18,600 400,000 SH SOLE 400,000 VERTEX PHARMACEUTICALS INC. COM 92532F100 4,474 248,016 SH SOLE 248,016 VODAFONE AIRTOUCH PLC ADRS 92857W100 10,818 492,614 SH SOLE 492,614 WACHOVIA CORP. COM 929903102 11,780 380,000 SH SOLE 380,000 WELLS FARGO & CO. COM 949746101 24,448 550,000 SH SOLE 550,000 WILLIAMS COMPANIES, INC. COM 969457100 13,650 500,000 SH SOLE 500,000 WILMINGTON TRUST CORP. COM 971807102 11,592 210,000 SH SOLE 210,000 1,290,749