BALTIMORE, MARYLAND, October 20, 2022 — Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -23.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category Average were -23.9% and -24.0%, respectively. The total return on the market price of the Fund’s shares for the period was -24.3%.

For the twelve months ended September 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -13.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -15.5% and -16.0%, respectively. The total return on the market price of the Fund’s shares for the period was -14.8%.

The Third Quarter Report to Shareholders is expected to be available on or about October 26, 2022.

 

ANNUALIZED COMPARATIVE RETURNS (09/30/2022)

1 Year 3 Year 5 Year 10 Year
Adams Diversified Equity Fund  (NAV) -13.2% 8.6% 10.3% 12.1%
Adams Diversified Equity Fund (market price) -14.8% 7.2% 10.0% 11.9%
Morningstar U.S. Large Blend Category -16.0% 7.4% 8.3% 10.8%
S&P 500 -15.5% 8.2% 9.2% 11.7%

 

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at September 30, 2022, compared with the year earlier, was:

09/30/2022 09/30/2021
Net assets $2,018,853,995 $2,538,318,809
Shares outstanding 117,873,650 111,027,198
Net asset value per share $17.13 $22.86

 

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (09/30/2022)

  % of Net Assets
Microsoft Corporation 7.1%
Apple Inc. 6.7%
Alphabet Inc. Class A 4.0%
Amazon.com, Inc. 3.1%
UnitedHealth Group Incorporated 2.5%
Adams Natural Resources Fund, Inc.* 2.1%
Thermo Fisher Scientific Inc. 1.9%
Tesla, Inc. 1.9%
CVS Health Corporation 1.8%
Mastercard Incorporated Class A 1.7%
     Total 32.8%
*Non-controlled affiliated closed-end fund

 

SECTOR WEIGHTINGS (09/30/22)

% of Net Assets
Information Technology 26.0%
Health Care 15.3%
Consumer Discretionary 11.9%
Financials 10.9%
Communication Services 8.1%
Industrials 7.8%
Consumer Staples 6.5%
Energy 5.0%
Utilities 2.9%
Real Estate 2.6%
Materials 2.3%

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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 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 contact us:  

800.638.2479  │ adamsfunds.com/about/contact