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:
|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%|
|Marathon Petroleum Corporation||3.9%|
|Pioneer Natural Resources Company||3.3%|
|Occidental Petroleum Corporation||3.2%|
|EOG Resources, Inc.||2.9%|
SECTOR WEIGHTINGS (12/31/22)
|% of Net Assets|
|Integrated Oil & Gas||37.6%|
|Exploration & Production||26.8%|
|Refining & Marketing||8.6%|
|Equipment & Services||6.2%|
|Storage & Transportation||3.7%|
|Metals & Mining||3.0%|
|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.
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