Adams Diversified Equity Fund Reports Nine Month Results
BALTIMORE, Oct. 20, 2022 (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 -23.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category Average were -23.9% and -24.0%, respectively. The total return on the market price of the Fund’s shares for the period was -24.3%.
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 -13.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -15.5% and -16.0%, respectively. The total return on the market price of the Fund’s shares for the period was -14.8%.
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 Diversified Equity Fund (NAV) | -13.2% | 8.6% | 10.3% | 12.1% | |
Adams Diversified Equity Fund (market price) | -14.8% | 7.2% | 10.0% | 11.9% | |
Morningstar U.S. Large Blend Category | -16.0% | 7.4% | 8.3% | 10.8% | |
S&P 500 | -15.5% | 8.2% | 9.2% | 11.7% | |
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 | $2,018,853,995 | $2,538,318,809 |
Shares outstanding | 117,873,650 | 111,027,198 |
Net asset value per share | $17.13 | $22.86 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (09/30/2022)
| % of Net Assets |
Microsoft Corporation | 7.1% |
Apple Inc. | 6.7% |
Alphabet Inc. Class A | 4.0% |
Amazon.com, Inc. | 3.1% |
UnitedHealth Group Incorporated | 2.5% |
Adams Natural Resources Fund, Inc.* | 2.1% |
Thermo Fisher Scientific Inc. | 1.9% |
Tesla, Inc. | 1.9% |
CVS Health Corporation | 1.8% |
Mastercard Incorporated Class A | 1.7% |
Total | 32.8% |
*Non-controlled affiliated closed-end fund |
|
SECTOR WEIGHTINGS (09/30/22)
| % of Net Assets |
Information Technology | 26.0% |
Health Care | 15.3% |
Consumer Discretionary | 11.9% |
Financials | 10.9% |
Communication Services | 8.1% |
Industrials | 7.8% |
Consumer Staples | 6.5% |
Energy | 5.0% |
Utilities | 2.9% |
Real Estate | 2.6% |
Materials | 2.3% |
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
