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Adams Natural Resources Fund Announces 2022 Performance
Globe Newswire 19-Jan-2023 5:33 PM
BALTIMORE, Jan. 19, 2023 (GLOBE NEWSWIRE) -- 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%
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
