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Adams Diversified Equity Fund Reports Nine Month Results

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


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