Pricing as of 07/18/25
$23.66
NAV
(NASDAQ: XADEX)
$21.99
Market Price
(NYSE: ADX)
-7.1%
Discount
At A Glance
Adams Diversified Equity Fund, the Adams Express™ closed-end fund, seeks to deliver superior returns over time by investing in a broadly-diversified equity portfolio. The Fund invests in a blend of high-quality, large-cap companies. The Fund seeks to generate returns that exceed its benchmark as well as consistently distribute dividend income and capital gains to shareholders.
AS OF 06/30/25
1929
Inception Date
85+
Years of Distributions
2%
Quarterly Distribution Rate1
10.9%
2024 Annual Distribution Rate2
96.9%
Domestic
$2.8B
Net Assets
$357.7B
Portfolio Weighted
Median Market Cap
98
Number of Holdings
ADX0.52%
Ind Avg1.10%3
Expense Ratio
1 The quarterly distribution rate is the total distributions per share for the quarter divided by the average net asset value per share for the prior four quarter-ends.
2 The annual distribution rate is calculated as the total dividends and distributions per share for the year divided by the average of the Fund’s net asset value per share for the four quarter-end periods ending September 30, in accordance with the Managed Distribution Policy adopted in May 2024.
3 Ratio as of December 31, 2024, with each fund's share class weighted equally. (Sources: Investment Company Institute and Morningstar)
Performance Back to top
Investment Returns - 06/30/25
Total Return on Net Asset Value
| YTD | 1YR | 3YR* | 5YR* | 10YR* |
|---|---|---|---|---|
| 7.8% | 15.1% | 20.5% | 17.2% | 14.3% |
Total Return on Market Price
| YTD | 1YR | 3YR* | 5YR* | 10YR* |
|---|---|---|---|---|
| 12.4% | 18.0% | 24.0% | 19.2% | 15.1% |
*Annualized
Total returns are presented before taxes and reflect reinvestment of all distributions at reinvestment price. Investment returns, market price, and net asset value will fluctuate. Shares, if sold, may be worth more or less than their original cost. Presented performance reflects past performance and is no guarantee of future investment results.
ILLUSTRATION OF AN ASSUMED 10 YEAR INVESTMENT OF $10,000
The following shows the value of a hypothetical $10,000 investment in the Fund at market price over the past 10 calendar years with dividends and distributions reinvested. All Fund distributions are reinvested at the lower of the net asset value per share or the closing NYSE market price on the distribution’s valuation date. Amounts do not reflect taxes paid by shareholders on distributions or the sale of shares. Past performance does not predict future performance.
Portfolio Composition Back to top
Ten Largest Equity Portfolio Holdings - 06/30/25
| Market Value | Percent of Net Assets | |
|---|---|---|
| Microsoft Corporation | $216,074,904 | 7.7% |
| NVIDIA Corporation | $209,810,720 | 7.5% |
| Apple Inc. | $170,496,270 | 6.1% |
| Amazon.com, Inc. | $114,675,153 | 4.1% |
| Alphabet Inc. Class A | $95,252,315 | 3.4% |
| Meta Platforms, Inc. Class A | $92,630,295 | 3.3% |
| Broadcom Inc. | $73,653,680 | 2.6% |
| JPMorgan Chase & Co. | $69,016,844 | 2.5% |
| Adams Natural Resources Fund, Inc.* | $52,488,588 | 1.9% |
| Netflix, Inc. | $46,631,185 | 1.7% |
| Total | $1,140,729,954 | 40.8% |
*Adams Natural Resources Fund, Inc. is a non-controlled affiliated closed-end fund.
Sector Weightings - 06/30/25
DistributionsBack to top
Five Year Distribution History
| Year | Income Dividends per Share ($) | Short-Term Capital Gains per Share ($) | Long-Term Capital Gains per Share ($) | Total Distribution per Share ($) | Annual Distribution Rate* (%) |
|---|---|---|---|---|---|
| 2020 | 0.19 | 0.00 | 0.84 | 1.03 | 6.8 |
| 2021 | 0.20 | 0.35 | 2.43 | 2.98 | 15.7 |
| 2022 | 0.18 | 0.01 | 0.88 | 1.07 | 6.3 |
| 2023 | 0.15 | 0.00 | 1.15 | 1.30 | 8.1 |
| 2024 | 0.17 | 0.30 | 2.03 | 2.50 | 10.9 |
* Beginning in 2024, the annual distribution rate is the total dividends and distributions per share divided by the average of the Fund's net asset values for the four quarter-end periods ending prior to the calendar year-end in accordance with the Managed Distribution Policy adopted in 2024. Prior to that, the calculation was based on the Fund's average month-end stock price for the twelve months ended October 31, in accordance with the annual 6% minimum distribution rate commitment adopted in September 2011.
2025 Quarterly Distributions
| Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2025 | 0.47 | 0.46 | 0.46 |
Disclosure Reports
| Section 19(a) of the Investment Company Act | 05/30/2025 | |
| Date | Report | |
|---|---|---|
| 05/30/2025 |  | |
| 02/28/2025 | | |
| 12/23/2024 | | |
| 08/30/2024 | | |
| 03/01/2024 | | |
| 12/20/2023 | | |
| 03/01/2023 | | |
| 12/21/2022 | | |
| 03/01/2022 | | |
| 12/22/2021 | | |
| Past Reports | ||
| 02/26/2021 | | |
| 01/05/2021 | | |
| 3/1/2020 | | |
| 03/01/2019 | | |
| 12/26/2018 | | |
| 03/01/2018 | | |
| 12/31/2017 | | |
| 03/31/2017 | | |
| 12/29/2016 | | |
| 03/01/2016 | | |
| 12/28/2015 | | |
| 03/02/2015 | | |
| 12/29/2014 | | |
| 03/03/2014 | | |
| 12/27/2013 | | |
| 03/01/2013 | | |
Distribution Information
ReportsBack to top
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Proxy Voting
Proxy Voting Record: Form N-PX for the period ended June 30, 2024
SEC Filings