BALTIMORE, MARYLAND, January 18, 2024 — Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2023.


The total return on the Fund’s net asset value for 2023 was 27.5%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 26.3% and
24.1%, respectively. The total return on the Fund’s market price for the period was 31.2%. “We were pleased to generate a 27.5% return in 2023, outperforming our benchmark and 3.4% ahead of our peer group,” said Jim Haynie, CEO of Adams Funds.


The Fund paid $1.30 per share in income dividends and realized capital gain distributions to shareholders in 2023, producing an annual distribution rate of 8.1%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at


The 2023 Annual Report is expected to be released on or about February 15, 2024.



1 Year 3 Year 5 Year
Adams Diversified Equity Fund  (NAV) 27.5% 11.0% 16.4%
Adams Diversified Equity Fund (market price) 31.2% 11.0% 16.8%
Morningstar U.S. Large Blend Category 24.1% 8.9% 14.5%
S&P 500 26.3% 10.0% 15.7%



The Fund’s net asset value at the end of 2023, compared with the year earlier, was:

12/31/23 12/31/22
Net assets $2,550,393,350 $2,100,737,733
Shares outstanding 124,051,639 120,900,484
Net asset value per share $20.56 $17.38



  % of Net Assets
Microsoft Corporation 7.8%
Apple Inc. 6.6%, Inc. 4.1%
Alphabet Inc. Class A 3.6%
NVIDIA Corporation 3.1%
JPMorgan Chase & Co. 2.0%
Visa Inc. Class A 2.0%
Meta Platforms, Inc. Class A 2.0%
UnitedHealth Group Incorporated 1.9%
Adams Natural Resources Fund, Inc.* 1.8%
     Total 34.9%

* Non-controlled affiliated closed-end fund.



% of Net Assets
Information Technology 28.8%
Financials 12.9%
Health Care 12.6%
Consumer Discretionary 11.2%
Communication Services 8.6%
Industrials 8.6%
Consumer Staples 5.9%
Energy 4.0%
Real Estate 2.5%
Materials 2.3%
Utilities 2.0%




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 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:

For further information please contact: 800.638.2479