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.
| ANNUALIZED COMPARATIVE RETURNS (9/30/2024) | ||||
| 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% |
| NET ASSET VALUE ANNOUNCED |
The Fund’s net asset value at September 30, 2024, compared with the year earlier, was:
| 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 |
| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024) | |
| % 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 | |
| SECTOR WEIGHTINGS (9/30/2024) | |
| % 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% |
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
Bay Street News