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%|
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at September 30, 2022, compared with the year earlier, was:
|Net asset value per share||$17.13||$22.86|
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (09/30/2022)
|% of Net Assets|
|Alphabet Inc. Class A||4.0%|
|UnitedHealth Group Incorporated||2.5%|
|Adams Natural Resources Fund, Inc.*||2.1%|
|Thermo Fisher Scientific Inc.||1.9%|
|CVS Health Corporation||1.8%|
|Mastercard Incorporated Class A||1.7%|
|*Non-controlled affiliated closed-end fund|
SECTOR WEIGHTINGS (09/30/22)
|% of Net Assets|
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