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
