• Adams Diversified Equity Fund Announces 2023 Performance

    Источник: Nasdaq GlobeNewswire / 18 янв 2024 18:14:13   America/New_York

    BALTIMORE, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2023.

    The total return on the Fund’s net asset value for 2023 was 27.5%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 26.3% and 24.1%, respectively. The total return on the Fund’s market price for the period was 31.2%. “We were pleased to generate a 27.5% return in 2023, outperforming our benchmark and 3.4% ahead of our peer group,” said Jim Haynie, CEO of Adams Funds.

    The Fund paid $1.30 per share in income dividends and realized capital gain distributions to shareholders in 2023, producing an annual distribution rate of 8.1%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at adamsfunds.com.

    The 2023 Annual Report is expected to be released on or about February 15, 2024.

     
    ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/23)


     1 Year3 Year5 Year
    Adams Diversified Equity Fund (NAV)27.5%11.0%16.4%
    Adams Diversified Equity Fund (market price)31.2%11.0%16.8%
    Morningstar U.S. Large Blend Category24.1%8.9%14.5%
    S&P 50026.3%10.0%15.7%
        


    NET ASSET VALUE ANNOUNCED

    The Fund’s net asset value at the end of 2023, compared with the year earlier, was:

        
      12/31/23   12/31/22
    Net assets$2,550,393,350 $2,100,737,733
    Shares outstanding124,051,639 120,900,484
    Net asset value per share$20.56 $17.38
        

     

    TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/23)


     % of Net Assets
    Microsoft Corporation7.8%
    Apple Inc.6.6%
    Amazon.com, Inc.4.1%
    Alphabet Inc. Class A3.6%
    NVIDIA Corporation3.1%
    JPMorgan Chase & Co.2.0%
    Visa Inc. Class A2.0%
    Meta Platforms, Inc. Class A2.0%
    UnitedHealth Group Incorporated1.9%
    Adams Natural Resources Fund, Inc.*1.8%
          Total34.9%
      
    * Non-controlled affiliated closed-end fund. 
      

                            

    SECTOR WEIGHTINGS (12/31/23)


      % of Net Assets
    Information Technology28.8%
    Financials12.9%
    Health Care12.6%
    Consumer Discretionary11.2%
    Communication Services8.6%
    Industrials8.6%
    Consumer Staples5.9%
    Energy4.0%
    Real Estate2.5%
    Materials2.3%
    Utilities2.0%
      
      

    About Adams Funds 
    Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 85 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

    For further information please contact: adamsfunds.com/about/contact │ 800.638.2479


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