BALTIMORE, Oct. 20, 2022 (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 19.1%. This compares to a total return of 19.7% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (74% weight) and the S&P 500 Materials Sector (26% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 19.5%.
For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 31.4%. Comparable return for the Fund’s benchmark was 31.4%. The total return on the market price of the Fund’s shares for the period was 30.4%.
The Third Quarter Report to Shareholders is expected to be available on or about October 26, 2022.
ANNUALIZED COMPARATIVE RETURNS (09/30/2022)
| 1 Year | 3 Year | 5 Year | 10 Year | |||||
| Adams Natural Resources Fund (NAV) | 31.4 | % | 12.9 | % | 6.2 | % | 3.8 | % |
| Adams Natural Resources Fund (market price) | 30.4 | % | 13.8 | % | 6.3 | % | 3.6 | % |
| S&P 500 Energy Sector | 45.7 | % | 13.4 | % | 6.1 | % | 3.5 | % |
| S&P 500 Materials Sector | -12.2 | % | 7.6 | % | 5.9 | % | 8.6 | % |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at September 30, 2022, compared with the year earlier, was:
| 09/30/2022 | 09/30/2021 | |||
| Net assets | $ | 552,664,703 | $ | 434,783,848 |
| Shares outstanding | 24,485,314 | 24,084,964 | ||
| Net asset value per share | $ | 22.57 | $ | 18.05 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (09/30/2022)
| % of Net Assets | ||
| Exxon Mobil Corporation | 20.9 | % |
| Chevron Corporation | 14.5 | % |
| ConocoPhillips | 9.1 | % |
| Marathon Petroleum Corporation | 4.2 | % |
| Pioneer Natural Resources Corporation | 3.8 | % |
| Occidental Petroleum Corporation | 3.6 | % |
| Linde plc | 3.2 | % |
| Valero Energy Corporation | 3.0 | % |
| EOG Resources, Inc. | 2.9 | % |
| Schlumberger N.V. | 2.8 | % |
| Total | 68.0 | % |
SECTOR WEIGHTINGS (09/30/2022)
| % of Net Assets | ||
| Energy | ||
| Integrated Oil & Gas | 36.2 | % |
| Exploration & Production | 29.2 | % |
| Refining & Marketing | 8.8 | % |
| Equipment & Services | 5.2 | % |
| Storage & Transportation | 3.6 | % |
| Materials | ||
| Chemicals | 10.7 | % |
| Metals & Mining | 2.5 | % |
| Construction Materials | 1.9 | % |
| Containers & Packaging | 1.1 | % |
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 80 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 contact us: 800-638-2479 │ adamsfunds.com/about/contact
