Pricing as of 04/25/25
$23.17
NAV
(NASDAQ: XPEOX)
$20.58
Market Price
(NYSE: PEO)
-11.2%
Discount
At A Glance
Adams Natural Resources Funds seeks to deliver superior returns over time by capitalizing on the long-term demand for energy and materials. The Fund invests in energy and natural resources stocks and seeks to generate returns that exceed its benchmark as well as consistently distribute dividend income and capital gains to shareholders.
AS OF 03/31/25
1929
Inception Date
85+
Years of Distributions
2%
Quarterly Distribution Rate1
6.7%
2024 Annual Distribution Rate2
88.7%
Domestic
$684.0M
Net Assets
$72.8B
Portfolio Weighted
Median Market Cap
53
Number of Holdings
PEO0.57%
Ind Avg1.32%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 - 03/31/25
Total Return on Net Asset Value
| YTD | 1YR | 3YR* | 5YR* | 10YR* |
|---|---|---|---|---|
| 8.8% | 1.4% | 10.1% | 29.1% | 6.7% |
Total Return on Market Price
| YTD | 1YR | 3YR* | 5YR* | 10YR* |
|---|---|---|---|---|
| 7.4% | 8.9% | 11.3% | 31.3% | 6.9% |
*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 - 03/31/25
| Market Value | Percent of Net Assets | |
|---|---|---|
| Exxon Mobil Corporation | $161,002,082 | 23.5% |
| Chevron Corporation | $88,090,063 | 12.9% |
| ConocoPhillips | $40,863,597 | 6.0% |
| Linde plc | $29,987,216 | 4.4% |
| EOG Resources, Inc. | $25,913,072 | 3.8% |
| Williams Companies, Inc. | $21,833,316 | 3.2% |
| Hess Corporation | $21,817,361 | 3.2% |
| Baker Hughes Company | $18,375,495 | 2.7% |
| Kinder Morgan, Inc. | $18,150,558 | 2.7% |
| ONEOK, Inc. | $17,661,160 | 2.6% |
| Total | $443,693,920 | 65.0% |
Industry Weightings - 03/31/25
DistributionsBack to top
Five Year Distribution History
| Year | Income Dividends per Share ($) | Short-Term Capital Gains per Share ($) | Long-Term Capital Gains per Share ($) | Return of Capital per share ($) | Total Distribution per Share ($) | Annual Distribution Rate* (%) |
|---|---|---|---|---|---|---|
| 2020 | 0.47 | 0.00 | 0.26 | 0.00 | 0.73 | 6.1 |
| 2021 | 0.56 | 0.29 | 0.06 | 0.00 | 0.91 | 6.3 |
| 2022 | 0.79 | 0.18 | 0.66 | 0.00 | 1.63 | 8.1 |
| 2023 | 0.65 | 0.03 | 0.67 | 0.00 | 1.35 | 6.2 |
| 2024 | 0.65 | 0.00 | 1.12 | 0.00 | 1.77 | 6.7 |
* For 2024, 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. 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 then in effect.
2025 Quarterly Distributions
| Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2025 | 0.53 | 0.52 |
Disclosure Reports
| Section 19(a) of the Investment Company Act | 02/26/2025 | |
| Date | Report | |
|---|---|---|
| 02/26/2025 |  | |
| 12/19/2024 | | |
| 08/30/2024 | | |
| 03/01/2024 | | |
| 12/15/2023 | | |
| 03/01/2023 | | |
| 12/16/2022 | | |
| 03/01/2022 | | |
| 12/22/2021 | | |
| 02/26/2021 | | |
| Past Reports | ||
| 01/05/2021 | | |
| 3/1/2020 | | |
| 12/21/2018 | | |
| 03/01/2018 | | |
| 12/31/2017 | | |
| 03/31/2017 | | |
| 12/23/2016 | | |
| 03/01/2016 | | |
| 12/22/2015 | | |
| 03/02/2015 | | |
| 12/23/2014 | | |
| 03/03/2014 | | |
| 12/27/2013 | | |
| 03/01/2013 | | |
Distribution Information
ReportsBack to top
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| Quarterly Changes in Portfolio Securities | 03/31/2025 | |||
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Proxy Voting
Proxy Voting Record: Form N-PX for the period ended June 30, 2024
SEC Filings