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Adams Diversified Equity Fund Reports Nine Month Results
Globe Newswire 17-Oct-2024 4:05 PM
BALTIMORE, Oct. 17, 2024 (GLOBE NEWSWIRE) -- 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 21.3%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 22.1% and 20.4%, respectively. The total return on the market price of the Fund's shares for the period was 24.9%.
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 37.0%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 36.4% and 34.5%, respectively. The total return on the market price of the Fund's shares for the period was 41.9%.
The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.
ANNUALIZED COMPARATIVE RETURNS (9/30/2024)
1 Year
3 Year
5 Year
10 Year
Adams Diversified Equity Fund (NAV)
37.0%
13.1%
16.4%
14.0%
Adams Diversified Equity Fund (market price)
41.9%
13.9%
16.4%
14.4%
Morningstar U.S. Large Blend Category
34.5%
10.6%
14.9%
12.0%
S&P 500
36.4%
11.9%
16.0%
13.4%
NET ASSET VALUE ANNOUNCED
The Fund's net asset value at September 30, 2024, compared with the year earlier, was:
9/30/2024
9/30/2023
Net assets
$2,739,312,275
$2,347,175,163
Shares outstanding
112,690,081
120,809,873
Net asset value per share
$24.31
$19.43
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024)
% of Net Assets
Apple Inc.
7.7%
Microsoft Corporation
7.4%
NVIDIA Corporation
6.3%
Amazon.com, Inc.
4.1%
Alphabet Inc. Class A
3.5%
Meta Platforms, Inc. Class A
2.8%
JPMorgan Chase & Co.
2.0%
Adams Natural Resources Fund, Inc.*
1.9%
Broadcom Inc.
1.8%
Eli Lilly and Company
1.8%
Total
39.3%
*Non-controlled affiliated closed-end fund
SECTOR WEIGHTINGS (9/30/2024)
% of Net Assets
Information Technology
31.0%
Financials
12.5%
Health Care
11.6%
Consumer Discretionary
10.3%
Communication Services
9.0%
Industrials
8.5%
Consumer Staples
6.1%
Energy
3.6%
Utilities
2.4%
Real Estate
2.3%
Materials
2.1%
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 a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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
