BALTIMORE, MARYLAND, January 16, 2020 — Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2019. “We were pleased to generate a 31.6% return in 2019, in line with our benchmark and 2.0% above our peer group for the year,” said Mark Stoeckle, CEO of Adams Funds.

The total return on the Fund’s net asset value for 2019 was 31.6%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Funds Average were 31.5% and 29.6%, respectively.  The total return on the Fund’s market price for the period was 36.6%.

The Fund paid $1.42 per share in income dividends and realized capital gain distributions to shareholders in 2019, producing an annual distribution rate of 9.6%, exceeding the Fund’s annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.

The Fund will be holding a conference call on January 28, 2020 at 2:00 pm EST to discuss our 2019 performance. We invite shareholders to submit questions to investorrelations@adamsfunds.com. The call may be accessed at adamsfunds.com or by calling 1-844-707-6796 and requesting the Adams Funds conference call.  A replay of the call will be available through February 28, 2020 by dialing 1-877-344-7529. The access code is 10137467.

The 2019 Annual Report is expected to be released on or about February 24, 2020.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/19)

1 Year 3 Year 5 Year
Adams Diversified Equity Fund  (NAV) 31.6% 17.4% 12.4%
Adams Diversified Equity Fund (market price) 36.6% 19.4% 12.9%
Lipper Large-Cap Core Funds Average 29.6% 13.9% 10.3%
S&P 500 31.5% 15.3% 11.7%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2019, compared with the year earlier, was:

12/31/19 12/31/18
Net assets $1,951,591,643 $1,580,889,241
Shares outstanding 108,865,052 106,205,633
Net asset value per share $17.93 $14.89

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/19)

  % of Net Assets
Microsoft Corporation 5.9%
Apple Inc. 4.4%
Alphabet Inc. Class A & Class C 3.6%
Amazon.com, Inc. 3.5%
Visa Inc. 2.7%
Bank of America Corporation 2.6%
JPMorgan Chase & Co. 2.4%
Merck & Co., Inc. 1.9%
Adams Natural Resources Fund, Inc.* 1.8%
Honeywell International Inc. 1.8%
     Total 30.6%
* Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (12/31/19)

% of Net Assets
Information Technology 23.4%
Financials 14.1%
Health Care 13.7%
Communication Services 9.8%
Consumer Discretionary 9.5%
Industrials 9.2%
Consumer Staples 7.3%
Energy 4.5%
Utilities 3.1%
Real Estate 2.7%
Materials 2.2%

 

During the fourth quarter, we initiated new positions in AbbVie, Caterpillar, ConocoPhillips, CVS Health, Intel, L3Harris Technologies, Lincoln Electric Holdings, Linde plc, Magna International, S&P Global, and Starbucks.

 


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 80 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:

Lyn Walther
Director of Shareholder Communications
800.638.2479
email