Welcome to our dedicated page for Adams Natural Resources Fund SEC filings (Ticker: PEO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Adams Natural Resources Fund, Inc. (NYSE: PEO) is a closed-end U.S. equity fund that invests in energy and natural resources stocks, and its SEC filings provide detailed insight into how it pursues its objectives of capital preservation, reasonable income, and capital appreciation. While this page aggregates the Fund’s regulatory disclosures, Stock Titan enhances access to these documents with AI-powered tools that help interpret key information for investors.
In the Fund’s registration statements, annual reports on Form 10-K, and quarterly reports on Form 10-Q, investors can typically review information about portfolio holdings, sector and industry weightings, investment policies, and risk factors related to concentration in energy and materials. These filings also describe the Fund’s non-diversified status and its focus on liquid energy and other natural resources stocks, as well as how its benchmark, composed of the S&P 500 Energy Sector and the S&P 500 Materials Sector, is used for performance comparison.
Proxy statements on Schedule 14A and related filings can provide additional detail on fund governance, fee structures, and shareholder proposals. For investors interested in income characteristics, filings also explain the Fund’s distribution policies, including its commitment to a minimum annual distribution rate and the managed distribution policy targeting an 8% annual rate of average net asset value, along with the potential mix of net investment income, capital gains, and return of capital.
On Stock Titan, each new PEO filing from the SEC’s EDGAR system is captured and presented with AI-generated summaries that highlight the most important points, such as changes in portfolio composition, updates to distribution policies, or revisions to risk disclosures. Users can quickly locate annual reports, quarterly reports, and other key documents, and use the AI analysis to understand complex sections without reading every page. This makes it easier to track how Adams Natural Resources Fund manages its energy and materials exposure, structures its distributions, and communicates with shareholders through its official SEC filings.
Saba Capital Management and related parties filed an amended ownership report on ADAMS NATURAL RESOURCES FUND, INC. They report beneficial ownership of 2,285,362 common shares, representing 8.31% of the company’s 27,501,854 shares outstanding as of 12/31/25.
The filing shows Saba Capital, its general partner Saba Capital Management GP, LLC, and Boaz R. Weinstein sharing voting and dispositive power over these shares. Approximately $49,584,918 was paid to acquire the position, funded by investor subscriptions, capital appreciation and ordinary-course margin borrowings. Recent open-market trades over the 60 days before 3/26/26 are referenced in Schedule A.
PEO submitted an annual Form N-CEN reporting routine fund operations and governance information for the reporting period.
The filing discloses a monthly average value of portfolio securities on loan of $8,069,775 and $9,796 in net income from securities lending. It also lists aggregate brokerage commissions of $140,081 and principal transactions totaling $73,200,000. The report otherwise follows the Form N-CEN template, with many standard administrative fields (directors, custodians, advisers, transfer agents) provided as structured entries.
Adams Natural Resources Fund, Inc. reported year-end net assets of $662,418,619 and a net asset value per share of $24.09 as of December 31, 2025. The Fund generated a 9.4% total return based on NAV and distributed $55 million to shareholders, an 8.4% annual distribution rate under its Managed Distribution Policy committing to 8% of average NAV per year.
The Fund remains concentrated in Energy and Materials, held 27,501,854 shares outstanding, and paid quarterly distributions under the MDP, generally in newly issued shares unless shareholders elected cash.
Adams Natural Resources Fund, Inc. director Steven G. Chambers filed an initial ownership report showing indirect holdings of 3,845 shares of common stock. These shares are held by the Steven G. Chambers Trust - 2017, reflecting trust-based, indirect beneficial ownership rather than a new market transaction.
Adams Natural Resources Fund is holding its Annual Meeting on April 16, 2026 to elect two Class II directors and ratify PricewaterhouseCoopers LLP as independent auditor for 2026. Stockholders of record on January 23, 2026, with 27,495,477 common shares outstanding, are entitled to vote.
The Board highlights an independent chair, majority-independent board, mandatory retirement age, term limits, and significant stock ownership requirements. For 2025, portfolio turnover was 20.9% and the expense ratio was 0.62%. The Board unanimously recommends voting FOR both proposals.
Adams Natural Resources Fund, Inc. filed a Form 13F reporting its institutional holdings. The filing lists 55 holdings with a total market value of $659,357,118, and the report was signed by Treasurer Christine M. Sloan on 02-13-2026.
Adams Natural Resources Fund (PEO) reported a Form 4 showing a sale of common stock by a reporting person. On October 30, 2025, 11,388 shares were sold at $21.52 per share. Following the transaction, the reporting person beneficially owned 2,675,936 shares, held indirectly. The filing was submitted by Saba Capital Management, L.P. with signatures by Zachary Gindes and Boaz Weinstein. No derivative securities were reported.
Adams Natural Resources Fund, Inc. filed a Form 13F holdings report listing 55 reported holdings with a total market value of $659,144,285. The report was signed by Christine M. Sloan, Treasurer and dated 10-22-2025.
Form 4 filed 08/04/2025 discloses that 10% owner Saba Capital Management L.P. (Boaz Weinstein, principal) executed two open-market sales of Adams Natural Resources Fund (PEO) common stock. On 07/31/2025 the fund sold 5,491 shares at $21.54; on 08/01/2025 it sold 11,270 shares at $21.09. Total shares sold: 16,761.
Following the transactions, Saba’s indirect beneficial ownership fell to 2,687,324 shares, versus 2,704,085 previously—about 0.6 % of its position and well below 0.1 % of PEO’s shares outstanding. No derivative securities were involved and Saba remains a >10 % shareholder. While the dollar value is modest (~$356 k), the filing provides a real-time signal of minor insider selling.