BALTIMORE, MARYLAND, October 19, 2023 — Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 6.3%. This compares to a total return of 5.5% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 7.5%.
For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 29.3%. Comparable return for the Fund’s benchmark was 28.2%. The total return on the market price of the Fund’s shares for the period was 28.0%.
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 Natural Resources Fund (NAV)||29.3%||41.0%||9.6%||5.1%|
|Adams Natural Resources Fund (market price)||28.0%||41.4%||10.0%||5.2%|
|S&P 500 Energy Sector||30.2%||51.4%||9.0%||5.1%|
|S&P 500 Materials Sector||18.1%||9.5%||8.6%||8.7%|
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||$27.10||$22.57|
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2023)
|% of Net Assets|
|Exxon Mobil Corporation||23.3%|
|Marathon Petroleum Corporation||3.9%|
|Pioneer Natural Resources Company||3.3%|
|EOG Resources, Inc.||2.5%|
INDUSTRY WEIGHTINGS (9/30/2023)
|% of Net Assets|
|Integrated Oil & Gas||37.6%|
|Exploration & Production||23.8%|
|Refining & Marketing||8.9%|
|Equipment & Services||7.6%|
|Storage & Transportation||5.1%|
|Metals & Mining||2.1%|
|Containers & Packaging||0.9%|
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