BALTIMORE, Oct. 17, 2024 (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 21.3%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 22.1% and 20.4%, respectively. The total return on the market price of the Fund’s shares for the period was 24.9%.
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 37.0%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 36.4% and 34.5%, respectively. The total return on the market price of the Fund’s shares for the period was 41.9%.
The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.
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| ANNUALIZED COMPARATIVE RETURNS (9/30/2024) |
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|
1 Year |
3 Year |
5 Year |
10 Year |
| Adams Diversified Equity Fund (NAV) |
37.0% |
13.1% |
16.4% |
14.0% |
| Adams Diversified Equity Fund (market price) |
41.9% |
13.9% |
16.4% |
14.4% |
| Morningstar U.S. Large Blend Category |
34.5% |
10.6% |
14.9% |
12.0% |
| S&P 500 |
36.4% |
11.9% |
16.0% |
13.4% |
|
|
|
|
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| NET ASSET VALUE ANNOUNCED |
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The Fund’s net asset value at September 30, 2024, compared with the year earlier, was:
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|
|
|
9/30/2024 |
9/30/2023 |
| Net assets |
$2,739,312,275 |
$2,347,175,163 |
| Shares outstanding |
112,690,081 |
120,809,873 |
| Net asset value per share |
$24.31 |
$19.43 |
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|
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| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024) |
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|
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% of Net Assets |
| Apple Inc. |
7.7% |
| Microsoft Corporation |
7.4% |
| NVIDIA Corporation |
6.3% |
| Amazon.com, Inc. |
4.1% |
| Alphabet Inc. Class A |
3.5% |
| Meta Platforms, Inc. Class A |
2.8% |
| JPMorgan Chase & Co. |
2.0% |
| Adams Natural Resources Fund, Inc.* |
1.9% |
| Broadcom Inc. |
1.8% |
| Eli Lilly and Company |
1.8% |
| Total |
39.3% |
*Non-controlled affiliated closed-end fund
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| SECTOR WEIGHTINGS (9/30/2024) |
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% of Net Assets |
| Information Technology |
31.0% |
| Financials |
12.5% |
| Health Care |
11.6% |
| Consumer Discretionary |
10.3% |
| Communication Services |
9.0% |
| Industrials |
8.5% |
| Consumer Staples |
6.1% |
| Energy |
3.6% |
| Utilities |
2.4% |
| Real Estate |
2.3% |
| Materials |
2.1% |
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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 a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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
