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BALTIMORE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Adams Natural Resources Fund, Inc. NYSE: PEO today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 10.2%. This compares to a total return of 9.5% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (80% weight) and the S&P 500 Materials Sector (20% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 16.3%.
For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 6.2%. Comparable return for the Fund’s benchmark was 4.9%. The total return on the market price of the Fund’s shares for the period was 9.2%.
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 Natural Resources Fund (NAV) | 6.2% | 21.8% | 14.6% | 4.4% |
| Adams Natural Resources Fund (market price) | 9.2% | 22.1% | 15.5% | 4.8% |
| S&P 500 Energy Sector | 0.9% | 24.1% | 13.9% | 4.0% |
| S&P 500 Materials Sector | 25.2% | 9.1% | 13.0% | 9.1% |
| 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 | $681,420,546 | $678,249,981 |
| Shares outstanding | 25,728,942 | 25,024,860 |
| Net asset value per share | $26.48 | $27.10 |
| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024) | |
| % of Net Assets | |
| Exxon Mobil Corporation | 25.6% |
| Chevron Corporation | 11.2% |
| ConocoPhillips | 5.4% |
| Linde plc | 4.7% |
| EOG Resources, Inc. | 3.9% |
| Marathon Petroleum Corporation | 3.3% |
| Williams Companies, Inc. | 3.0% |
| Hess Corporation | 2.8% |
| ONEOK, Inc. | 2.5% |
| Valero Energy Corporation | 2.4% |
| Total | 64.8% |
| INDUSTRY WEIGHTINGS (9/30/2024) | |
| % of Net Assets | |
| Energy | |
| Integrated Oil & Gas | 37.4% |
| Exploration & Production | 18.3% |
| Storage & Transportation | 8.2% |
| Refining & Marketing | 7.6% |
| Equipment & Services | 5.9% |
| Energy Related | 1.0% |
| Materials | |
| Chemicals | 14.2% |
| Metals & Mining | 4.0% |
| Construction Materials | 1.3% |
| Containers & Packaging | 1.2% |
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
