BALTIMORE, Oct. 19, 2023 (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 12.8%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 13.1% and 11.6%, respectively. The total return on the market price of the Fund’s shares for the period was 15.5%.
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 21.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 21.6% and 20.6%, respectively. The total return on the market price of the Fund’s shares for the period was 22.3%.
The Third Quarter Report to Shareholders is expected to be available on or about October 25, 2023.
ANNUALIZED COMPARATIVE RETURNS (9/30/2023)
| 1 Year | 3 Year | 5 Year | 10 Year | |||||
| Adams Diversified Equity Fund (NAV) | 21.5 | % | 10.6 | % | 10.6 | % | 12.6 | % |
| Adams Diversified Equity Fund (market price) | 22.3 | % | 10.5 | % | 10.5 | % | 12.5 | % |
| Morningstar U.S. Large Blend Category | 20.6 | % | 9.5 | % | 9.0 | % | 10.7 | % |
| S&P 500 | 21.6 | % | 10.2 | % | 9.9 | % | 11.9 | % |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at September 30, 2023, compared with the year earlier, was:
| 9/30/2023 | 9/30/2022 | |||
| Net assets | $ | 2,347,175,163 | $ | 2,018,853,995 |
| Shares outstanding | 120,809,873 | 117,873,650 | ||
| Net asset value per share | $ | 19.43 | $ | 17.13 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2023)
| % of Net Assets | |
| Microsoft Corporation | 7.4% |
| Apple Inc. | 6.6% |
| Alphabet Inc. Class A | 4.1% |
| NVIDIA Corporation | 3.1% |
| Amazon.com, Inc. | 3.0% |
| Adams Natural Resources Fund, Inc.* | 2.2% |
| JPMorgan Chase & Co. | 2.0% |
| Visa Inc. Class A | 2.0% |
| UnitedHealth Group Incorporated | 1.9% |
| Meta Platforms, Inc. Class A | 1.8% |
| Total | 34.1% |
| *Non-controlled affiliated closed-end fund | |
SECTOR WEIGHTINGS (9/30/2023)
| % of Net Assets | |
| Information Technology | 27.6% |
| Health Care | 13.1% |
| Consumer Discretionary | 11.0% |
| Financials | 12.6% |
| Communication Services | 8.8% |
| Industrials | 8.2% |
| Consumer Staples | 6.5% |
| Energy | 5.0% |
| Materials | 2.5% |
| Real Estate | 2.3% |
| Utilities | 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 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
