BALTIMORE, MARYLAND, January 19, 2023 - Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for 2022. “In a difficult year for the broader market, significant exposure to energy generated a 44.9% return for our Fund,” said Mark Stoeckle, CEO of Adams Funds.

The total return on the Fund’s net asset value for the year was 44.9%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were 65.7% and -12.3%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (74%) and the S&P 500 Materials Sector (26%), returned 45.4%. The total return on the Fund’s market price for the same period was 42.2%.

The Fund paid $1.63 per share in income dividends and realized capital gain distributions to shareholders in 2022, producing an annual distribution rate of 8.1%, 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 adamsfunds.com.

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

 

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/22) 

1 Year 3 Year 5 Year
Adams Natural Resources Fund (NAV) 44.9% 18.5% 9.1%
Adams Natural Resources Fund (market price) 42.2% 17.1% 8.8%
S&P 500 Energy Sector 65.7% 19.3% 9.3%
S&P 500 Materials Sector -12.3% 10.5% 7.5%

 

NET ASSET VALUE ANNOUNCED

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 $651,336,441 $470,588,987
Shares outstanding 25,193,556 24,484,588
Net asset value per share $25.85 $19.22

 

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/22)

% of Net Assets
Exxon Mobil Corporation 22.8%
Chevron Corporation 14.8%
ConocoPhillips 8.4%
Marathon Petroleum Corporation 3.9%
Schlumberger N.V. 3.5%
Pioneer Natural Resources Company 3.3%
Occidental Petroleum Corporation 3.2%
Linde plc 3.1%
Phillips 66 3.0%
EOG Resources, Inc. 2.9%
     Total 68.9%

 

SECTOR WEIGHTINGS (12/31/22)

% of Net Assets
Energy
Integrated Oil & Gas 37.6%
Exploration & Production 26.8%
Refining & Marketing 8.6%
Equipment & Services 6.2%
Storage & Transportation 3.7%
Materials
Chemicals 10.0%
Metals & Mining 3.0%
Construction Materials 2.4%
Containers & Packaging 1.1%

 

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