By:
BALTIMORE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Adams Diversified Equity Fund, Inc. NYSE: ADX today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 21.3%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 22.1% and 20.4%, respectively. The total return on the market price of the Fund’s shares for the period was 24.9%.
For the twelve months ended September 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 37.0%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 36.4% and 34.5%, respectively. The total return on the market price of the Fund’s shares for the period was 41.9%.
The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.
| ANNUALIZED COMPARATIVE RETURNS (9/30/2024) | ||||
| 1 Year | 3 Year | 5 Year | 10 Year | |
| Adams Diversified Equity Fund (NAV) | 37.0% | 13.1% | 16.4% | 14.0% |
| Adams Diversified Equity Fund (market price) | 41.9% | 13.9% | 16.4% | 14.4% |
| Morningstar U.S. Large Blend Category | 34.5% | 10.6% | 14.9% | 12.0% |
| S&P 500 | 36.4% | 11.9% | 16.0% | 13.4% |
| NET ASSET VALUE ANNOUNCED |
The Fund’s net asset value at September 30, 2024, compared with the year earlier, was:
| 9/30/2024 | 9/30/2023 | |
| Net assets | $2,739,312,275 | $2,347,175,163 |
| Shares outstanding | 112,690,081 | 120,809,873 |
| Net asset value per share | $24.31 | $19.43 |
| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024) | |
| % of Net Assets | |
| Apple Inc. | 7.7% |
| Microsoft Corporation | 7.4% |
| NVIDIA Corporation | 6.3% |
| Amazon.com, Inc. | 4.1% |
| Alphabet Inc. Class A | 3.5% |
| Meta Platforms, Inc. Class A | 2.8% |
| JPMorgan Chase & Co. | 2.0% |
| Adams Natural Resources Fund, Inc.* | 1.9% |
| Broadcom Inc. | 1.8% |
| Eli Lilly and Company | 1.8% |
| Total | 39.3% |
| *Non-controlled affiliated closed-end fund | |
| SECTOR WEIGHTINGS (9/30/2024) | |
| % of Net Assets | |
| Information Technology | 31.0% |
| Financials | 12.5% |
| Health Care | 11.6% |
| Consumer Discretionary | 10.3% |
| Communication Services | 9.0% |
| Industrials | 8.5% |
| Consumer Staples | 6.1% |
| Energy | 3.6% |
| Utilities | 2.4% |
| Real Estate | 2.3% |
| Materials | 2.1% |
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 a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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
