BALTIMORE, MARYLAND, January 19, 2023 — Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2022.

The total return on the Fund’s net asset value for 2022 was -17.3%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were -18.1% and -18.2%, respectively. The total return on the Fund’s market price for the period was -19.8%. “In a difficult year for the market, our Fund modestly outperformed our benchmark and our peer group,” said Mark Stoeckle, CEO of Adams Funds.

The Fund paid $1.07 per share in income dividends and realized capital gain distributions to shareholders in 2022, producing an annual distribution rate of 6.3%, 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

The 2022 Annual Report is expected to be released on or about February 15, 2023.



1 Year 3 Year 5 Year
Adams Diversified Equity Fund  (NAV) -17.3% 8.4% 10.3%
Adams Diversified Equity Fund (market price) -19.8% 6.6% 9.8%
Morningstar U.S. Large Blend Category -18.2% 7.2% 8.8%
S&P 500 -18.1% 7.7% 9.4%



The Fund’s net asset value at the end of 2022, compared with the year earlier, was:

12/31/22 12/31/21
Net assets $2,100,737,733 $2,652,527,878
Shares outstanding 120,900,484 117,872,178
Net asset value per share $17.38 $22.50



  % of Net Assets
Microsoft Corporation 6.8%
Apple Inc. 5.9%
Alphabet Inc. Class A 3.1%
UnitedHealth Group Incorporated 2.5%
Adams Natural Resources Fund, Inc.* 2.3%, Inc. 2.2%
Mastercard Incorporated Class A 2.0%
Thermo Fisher Scientific Inc. 2.0%
Visa Inc. Class A 1.8%
Berkshire Hathaway Inc. Class B 1.7%
     Total 30.3%
* Non-controlled affiliated closed-end fund.



% of Net Assets
Information Technology 25.4%
Health Care 15.7%
Financials 11.9%
Consumer Discretionary 10.4%
Industrials 8.5%
Communication Services 7.3%
Consumer Staples 6.8%
Energy 5.2%
Utilities 3.0%
Materials 2.6%
Real Estate 2.5%


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:


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