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Adams Natural Resources Fund Reports Nine Month Results

BALTIMORE, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 6.3%. This compares to a total return of 5.5% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 7.5%.

For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 29.3%. Comparable return for the Fund’s benchmark was 28.2%. The total return on the market price of the Fund’s shares for the period was 28.0%.

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 Natural Resources Fund (NAV) 29.3 % 41.0 % 9.6 % 5.1 %
Adams Natural Resources Fund (market price) 28.0 % 41.4 % 10.0 % 5.2 %
S&P 500 Energy Sector 30.2 % 51.4 % 9.0 % 5.1 %
S&P 500 Materials Sector 18.1 % 9.5 % 8.6 % 8.7 %
                 

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 $ 678,249,981 $ 552,664,703
Shares outstanding   25,024,860   24,485,314
Net asset value per share $ 27.10 $ 22.57
         

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2023)

  % of Net Assets
Exxon Mobil Corporation 23.3 %
Chevron Corporation 13.5 %
ConocoPhillips 7.4 %
Schlumberger N.V. 4.1 %
Marathon Petroleum Corporation 3.9 %
Linde plc 3.7 %
Pioneer Natural Resources Company 3.3 %
Phillips 66 3.2 %
Hess Corporation 2.8 %
EOG Resources, Inc. 2.5 %
      Total 67.7 %
     

INDUSTRY WEIGHTINGS (9/30/2023)

  % of Net Assets
Energy  
Integrated Oil & Gas 37.6 %
Exploration & Production 23.8 %
Refining & Marketing 8.9 %
Equipment & Services 7.6 %
Storage & Transportation 5.1 %
   
Materials  
Chemicals 12.0 %
Metals & Mining 2.1 %
Construction Materials 1.2 %
Containers & Packaging 0.9 %
     

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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