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 Year | 3 Year | 5 Year | 10 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 Category | 22.7 | % | 7.8 | % | 13.3 | % | 11.8 | % |
| S&P 500 | 25.0 | % | 8.9 | % | 14.5 | % | 13.1 | % |
| NET ASSET VALUE ANNOUNCED |
| 12/31/24 | 12/31/23 | |||
| Net assets | $ | 2,662,523,552 | $ | 2,550,393,350 |
| Shares outstanding | 117,585,976 | 124,051,639 | ||
| 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 Corporation | 6.9 | % |
| Amazon.com, Inc. | 4.8 | % |
| Alphabet Inc. Class A | 3.9 | % |
| Meta Platforms, Inc. Class A | 2.8 | % |
| Broadcom Inc. | 2.5 | % |
| Adams Natural Resources Fund, Inc.* | 1.9 | % |
| JP Morgan Chase & Co. | 1.9 | % |
| Tesla, Inc. | 1.8 | % |
| Total | 41.6 | % |
| * Non-controlled affiliated closed-end fund. | ||
| SECTOR WEIGHTINGS (12/31/24) | ||
| % of Net Assets | ||
| Information Technology | 32.4 | % |
| Financials | 13.4 | % |
| Consumer Discretionary | 11.4 | % |
| Health Care | 9.9 | % |
| Communication Services | 9.3 | % |
| Industrials | 7.8 | % |
| Consumer Staples | 5.7 | % |
| Energy | 3.5 | % |
| Utilities | 2.2 | % |
| Real Estate | 2.0 | % |
| Materials | 1.7 | % |
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