• Adams Diversified Equity Fund Reports Nine Month Results

    Source: Nasdaq GlobeNewswire / 20 Oct 2022 16:54:59   America/New_York

    BALTIMORE, Oct. 20, 2022 (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 -23.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category Average were -23.9% and -24.0%, respectively. The total return on the market price of the Fund’s shares for the period was -24.3%.

    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 -13.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -15.5% and -16.0%, respectively. The total return on the market price of the Fund’s shares for the period was -14.8%.

    The Third Quarter Report to Shareholders is expected to be available on or about October 26, 2022.

    ANNUALIZED COMPARATIVE RETURNS (09/30/2022)

     1 Year3 Year5 Year10 Year
    Adams Diversified Equity Fund (NAV)-13.2%8.6%10.3%12.1%
    Adams Diversified Equity Fund (market price)-14.8%7.2%10.0%11.9%
    Morningstar U.S. Large Blend Category-16.0%7.4%8.3%10.8%
    S&P 500-15.5%8.2%9.2%11.7%

    NET ASSET VALUE ANNOUNCED

    The Fund’s net asset value at September 30, 2022, compared with the year earlier, was:

     09/30/202209/30/2021
    Net assets$2,018,853,995$2,538,318,809
    Shares outstanding117,873,650111,027,198
    Net asset value per share$17.13$22.86

    TEN LARGEST EQUITY PORTFOLIO HOLDINGS (09/30/2022)

     % of Net Assets
    Microsoft Corporation7.1%
    Apple Inc.6.7%
    Alphabet Inc. Class A4.0%
    Amazon.com, Inc.3.1%
    UnitedHealth Group Incorporated2.5%
    Adams Natural Resources Fund, Inc.*2.1%
    Thermo Fisher Scientific Inc.1.9%
    Tesla, Inc.1.9%
    CVS Health Corporation1.8%
    Mastercard Incorporated Class A1.7%
          Total32.8%
    *Non-controlled affiliated closed-end fund 

    SECTOR WEIGHTINGS (09/30/22)

     % of Net Assets
    Information Technology26.0%
    Health Care15.3%
    Consumer Discretionary11.9%
    Financials10.9%
    Communication Services8.1%
    Industrials7.8%
    Consumer Staples6.5%
    Energy5.0%
    Utilities2.9%
    Real Estate2.6%
    Materials2.3%

    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 80 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 contact us: 800.638.2479 │ adamsfunds.com/about/contact


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