BALTIMORE, MARYLAND, October 19, 2023 — 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 12.8%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 13.1% and 11.6%, respectively. The total return on the market price of the Fund’s shares for the period was 15.5%.
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 21.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 21.6% and 20.6%, respectively. The total return on the market price of the Fund’s shares for the period was 22.3%.
The Third Quarter Report to Shareholders is expected to be available on or about October 25, 2023.
ANNUALIZED COMPARATIVE RETURNS (9/30/2023)
|1 Year||3 Year||5 Year||10 Year|
|Adams Diversified Equity Fund (NAV)||21.5%||10.6%||10.6%||12.6%|
|Adams Diversified Equity Fund (market price)||22.3%||10.5%||10.5%||12.5%|
|Morningstar U.S. Large Blend Category||20.6%||9.5%||9.0%||10.7%|
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at September 30, 2023, compared with the year earlier, was:
|Net asset value per share||$19.43||$17.13|
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2023)
|% of Net Assets|
|Alphabet Inc. Class A||4.1%|
|Adams Natural Resources Fund, Inc.*||2.2%|
|JPMorgan Chase & Co.||2.0%|
|Visa Inc. Class A||2.0%|
|UnitedHealth Group Incorporated||1.9%|
|Meta Platforms, Inc. Class A||1.8%|
|*Non-controlled affiliated closed-end fund
SECTOR WEIGHTINGS (9/30/2023)
|% 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 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: adamsfunds.com.
For further information please contact: adamsfunds.com/about/contact │800.638.2479