Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2023.

The total return on the Fund’s net asset value for 2023 was 27.5%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 26.3% and 24.1%, respectively. The total return on the Fund’s market price for the period was 31.2%. “We were pleased to generate a 27.5% return in 2023, outperforming our benchmark and 3.4% ahead of our peer group,” said Jim Haynie, CEO of Adams Funds.

The Fund paid $1.30 per share in income dividends and realized capital gain distributions to shareholders in 2023, producing an annual distribution rate of 8.1%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at adamsfunds.com.

The 2023 Annual Report is expected to be released on or about February 15, 2024.

 
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/23)
  1 Year 3 Year 5 Year
Adams Diversified Equity Fund (NAV) 27.5% 11.0% 16.4%
Adams Diversified Equity Fund (market price) 31.2% 11.0% 16.8%
Morningstar U.S. Large Blend Category 24.1% 8.9% 14.5%
S&P 500 26.3% 10.0% 15.7%
       

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2023, compared with the year earlier, was:

       
  12/31/23   12/31/22
Net assets $2,550,393,350   $2,100,737,733
Shares outstanding 124,051,639   120,900,484
Net asset value per share $20.56   $17.38
       

 

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/23)

  % of Net Assets
Microsoft Corporation 7.8%
Apple Inc. 6.6%
Amazon.com, Inc. 4.1%
Alphabet Inc. Class A 3.6%
NVIDIA Corporation 3.1%
JPMorgan Chase & Co. 2.0%
Visa Inc. Class A 2.0%
Meta Platforms, Inc. Class A 2.0%
UnitedHealth Group Incorporated 1.9%
Adams Natural Resources Fund, Inc.* 1.8%
      Total 34.9%
   
* Non-controlled affiliated closed-end fund.  
   

                        

SECTOR WEIGHTINGS (12/31/23)
  % of Net Assets
Information Technology 28.8%
Financials 12.9%
Health Care 12.6%
Consumer Discretionary 11.2%
Communication Services 8.6%
Industrials 8.6%
Consumer Staples 5.9%
Energy 4.0%
Real Estate 2.5%
Materials 2.3%
Utilities 2.0%
   
   

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 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 please contact: adamsfunds.com/about/contact │ 800.638.2479

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