Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 19.1%. This compares to a total return of 19.7% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (74% weight) and the S&P 500 Materials Sector (26% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 19.5%.

For the twelve months ended September 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 31.4%. Comparable return for the Fund’s benchmark was 31.4%. The total return on the market price of the Fund’s shares for the period was 30.4%.

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

ANNUALIZED COMPARATIVE RETURNS (09/30/2022)

  1 Year 3 Year 5 Year 10 Year
Adams Natural Resources Fund (NAV) 31.4 % 12.9 % 6.2 % 3.8 %
Adams Natural Resources Fund (market price) 30.4 % 13.8 % 6.3 % 3.6 %
S&P 500 Energy Sector 45.7 % 13.4 % 6.1 % 3.5 %
S&P 500 Materials Sector -12.2 % 7.6 % 5.9 % 8.6 %

NET ASSET VALUE ANNOUNCED

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

  09/30/2022 09/30/2021
Net assets $ 552,664,703 $ 434,783,848
Shares outstanding   24,485,314   24,084,964
Net asset value per share $ 22.57 $ 18.05

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

  % of Net Assets
Exxon Mobil Corporation 20.9 %
Chevron Corporation 14.5 %
ConocoPhillips 9.1 %
Marathon Petroleum Corporation 4.2 %
Pioneer Natural Resources Corporation 3.8 %
Occidental Petroleum Corporation 3.6 %
Linde plc 3.2 %
Valero Energy Corporation 3.0 %
EOG Resources, Inc. 2.9 %
Schlumberger N.V. 2.8 %
      Total 68.0 %

SECTOR WEIGHTINGS (09/30/2022)

  % of Net Assets
Energy  
Integrated Oil & Gas 36.2 %
Exploration & Production 29.2 %
Refining & Marketing 8.8 %
Equipment & Services 5.2 %
Storage & Transportation 3.6 %
   
Materials  
Chemicals 10.7 %
Metals & Mining 2.5 %
Construction Materials 1.9 %
Containers & Packaging 1.1 %

About Adams FundsSince 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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