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Institutional Investment Manager
Adams Asset Advisors, LLC
Adams Asset Advisors, LLC (CIK: 0001386929) incorporated in Texas, located at 10670 N. Central Expwy, Dallas, TX. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q1)
Portfolio Summary: 83 holdings with a total value of $529,019,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 HAWAIIAN HOLDINGS INC COM 65,139 1,434,000 0.27%
52 ISHARES INC 31,505 1,429,000 0.27%
53 LEGACY RESVS LP 137,584 1,392,000 0.26%
54 ISHARES TR 32,128 1,289,000 0.24%
55 ISHARES TR 31,674 1,270,000 0.24%
56 EZCORP INC CL A NON VTG 137,343 1,253,000 0.24%
57 Alon USA Energy, Inc. 71,385 1,182,000 0.22%
58 ANADARKO PETE CORP 13,865 1,148,000 0.22%
59 IAMGOLD CORP 604,387 1,130,000 0.21%
60 ISHARES TR 17,381 1,115,000 0.21%
61 SKYWEST INC 74,870 1,093,000 0.21%
62 Express 62,251 1,029,000 0.19%
63 ONEOK PARTNERS LP 23,357 953,000 0.18%
64 SANDERSON FARMS INC 11,425 910,000 0.17%
65 MARLIN BUSINESS SVCS CORP 44,695 895,000 0.17%
66 ABERCROMBIE & FITCH CO 40,603 894,000 0.17%
67 BRINKS CO 32,284 892,000 0.17%
68 Big Five Sporting 67,129 890,000 0.17%
69 TILLYS INC CL A 55,869 874,000 0.17%
70 GUESS INC 46,513 864,000 0.16%
71 LIQUIDITY SERVICES INC COM 81,500 805,000 0.15%
72 ITT EDUCATIONAL SVCS, INC. 112,641 764,000 0.14%
73 WILLIAMS PARTNERS 14,740 725,000 0.14%
74 STONE ENERGY CORP 40,655 596,000 0.11%
75 SUBURBAN PROPANE PARTNERSL P 13,852 595,000 0.11%
76 SUNOCO LP SUNOCO FIN CORP 10,670 547,000 0.10%
77 EV ENERGY PARTNERS LP COM UNIT 39,930 532,000 0.10%
78 COMSTOCK RES INC COM NEW 136,540 487,000 0.09%
79 VAALCO ENERGY INC 162,498 398,000 0.08%
80 RAYONIER INC 14,061 379,000 0.07%
81 SWIFT ENERGY CO 151,244 326,000 0.06%
82 DAWSON GEOPHYSICAL CO 76,098 324,000 0.06%
83 Hercules Offshore Inc 548,403 229,000 0.04%
Page 2 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001386929-15-000002, filed 2015.04.21).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.