• Adams Diversified Equity Fund Announces 2024 Performance

    Source: Nasdaq GlobeNewswire / 16 Jan 2025 17:17:12   America/New_York

    BALTIMORE, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2024. The total return on the Fund’s net asset value for 2024 was 23.6%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 25.0% and 22.7%, respectively. The total return on the Fund’s market price for the period was 28.1%.

    The Fund paid $2.50 per share in income dividends and realized capital gain distributions to shareholders in 2024, producing an annual distribution rate of 10.9% on net asset value.

    “In a year of increased volatility related to the presidential election, we were pleased to outperform our peers in 2024 and distribute 10.9% of NAV to shareholders, significantly more than our new commitment adopted mid-year to annually distribute 8% of NAV,” said Jim Haynie, CEO of Adams Funds.

    The 2024 Annual Report is expected to be released on or about February 19, 2025.

     
    ANNUALIZED ONE, THREE, FIVE, AND TEN-YEAR COMPARATIVE RETURNS (12/31/24)
     
     1 Year3 Year5 Year10 Year
    Adams Diversified Equity Fund  (NAV)23.6%9.2%15.0%13.7%
    Adams Diversified Equity Fund (market price)28.1%10.5%15.3%14.1%
    Morningstar U.S. Large Blend Category22.7%7.8%13.3%11.8%
    S&P 50025.0%8.9%14.5%13.1%
             


    NET ASSET VALUE ANNOUNCED

    The Fund’s net asset value at the end of 2024, compared with the year earlier, was:

     12/31/2412/31/23
    Net assets$2,662,523,552$2,550,393,350
    Shares outstanding117,585,976124,051,639
    Net asset value per share$22.64$20.56
       


    TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/24)
     
      % of Net Assets
    Apple Inc.8.0%
    Microsoft Corporation. 7.1%
    NVIDIA Corporation6.9%
    Amazon.com, Inc.4.8%
    Alphabet Inc. Class A3.9%
    Meta Platforms, Inc. Class A2.8%
    Broadcom Inc.2.5%
    Adams Natural Resources Fund, Inc.*1.9%
    JP Morgan Chase & Co.1.9%
    Tesla, Inc.1.8%
         Total41.6%
    * Non-controlled affiliated closed-end fund.  
       


    SECTOR WEIGHTINGS (12/31/24)
     
     % of Net Assets
    Information Technology32.4%
    Financials13.4%
    Consumer Discretionary11.4%
    Health Care9.9%
    Communication Services9.3%
    Industrials7.8%
    Consumer Staples5.7%
    Energy3.5%
    Utilities2.2%
    Real Estate2.0%
    Materials1.7%
       

    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 90 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


    Primary Logo

Share on,