BALTIMORE, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2022.
The total return on the Fund’s net asset value for 2022 was -17.3%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were -18.1% and -18.2%, respectively. The total return on the Fund’s market price for the period was -19.8%. “In a difficult year for the market, our Fund modestly outperformed our benchmark and our peer group,” said Mark Stoeckle, CEO of Adams Funds.
The Fund paid $1.07 per share in income dividends and realized capital gain distributions to shareholders in 2022, producing an annual distribution rate of 6.3%, exceeding the Fund’s annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.
The 2022 Annual Report is expected to be released on or about February 15, 2023.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/22)
|
1 Year |
3 Year |
5 Year |
| Adams Diversified Equity Fund (NAV) |
-17.3% |
8.4% |
10.3% |
| Adams Diversified Equity Fund (market price) |
-19.8% |
6.6% |
9.8% |
| Morningstar U.S. Large Blend Category |
-18.2% |
7.2% |
8.8% |
| S&P 500 |
-18.1% |
7.7% |
9.4% |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at the end of 2022, compared with the year earlier, was:
|
12/31/22 |
12/31/21 |
| Net assets |
$2,100,737,733 |
$2,652,527,878 |
| Shares outstanding |
120,900,484 |
117,872,178 |
| Net asset value per share |
$17.38 |
$22.50 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/22)
|
% of Net Assets |
| Microsoft Corporation |
6.8 |
% |
| Apple Inc. |
5.9 |
% |
| Alphabet Inc. Class A |
3.1 |
% |
| UnitedHealth Group Incorporated |
2.5 |
% |
| Adams Natural Resources Fund, Inc.* |
2.3 |
% |
| Amazon.com, Inc. |
2.2 |
% |
| Mastercard Incorporated Class A |
2.0 |
% |
| Thermo Fisher Scientific Inc. |
2.0 |
% |
| Visa Inc. Class A |
1.8 |
% |
| Berkshire Hathaway Inc. Class B |
1.7 |
% |
| Total |
30.3 |
% |
|
|
| * Non-controlled affiliated closed-end fund. |
SECTOR WEIGHTINGS (12/31/22)
|
% of Net Assets |
| Information Technology |
25.4 |
% |
| Health Care |
15.7 |
% |
| Financials |
11.9 |
% |
| Consumer Discretionary |
10.4 |
% |
| Industrials |
8.5 |
% |
| Communication Services |
7.3 |
% |
| Consumer Staples |
6.8 |
% |
| Energy |
5.2 |
% |
| Utilities |
3.0 |
% |
| Materials |
2.6 |
% |
| Real Estate |
2.5 |
% |
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
