Adams Diversified Equity Fund Reports Nine Month Results

Rhea-AI Summary

Adams Diversified Equity Fund announces results for the nine months ended September 30th

Positive

• The total return on Adams Diversified Equity's net asset value was 12.8%
• The total return on the market price of the Fund's shares for the period was 15.5%
• For the twelve months ended September 30th, the total return on Adams Diversified Equity's net asset value was 21.5%
• The total return on the market price of the Fund's shares for the period was 22.3%
• The Fund's net asset value at September 30, 2023, was $2,347,175,163
• The ten largest equity portfolio holdings accounted for 34.1% of net assets
• The Information Technology sector accounted for 27.6% of net assets

Negative

• None.

BALTIMORE, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund’s results for the nine months ended September 30^th. The total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 12.8%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 13.1% and 11.6%, respectively. The total return on the market price of the Fund’s shares for the period was 15.5%.

For the twelve months ended September 30^th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 21.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 21.6% and 20.6%, respectively. The total return on the market price of the Fund’s shares for the period was 22.3%.

The Third Quarter Report to Shareholders is expected to be available on or about October 25, 2023.

ANNUALIZED COMPARATIVE RETURNS (9/30/2023)

	1 Year		3 Year		5 Year		10 Year
Adams Diversified Equity Fund (NAV)	21.5	%	10.6	%	10.6	%	12.6	%
Adams Diversified Equity Fund (market price)	22.3	%	10.5	%	10.5	%	12.5	%
Morningstar U.S. Large Blend Category	20.6	%	9.5	%	9.0	%	10.7	%
S&P 500	21.6	%	10.2	%	9.9	%	11.9	%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at September 30, 2023, compared with the year earlier, was:

	9/30/2023		9/30/2022
Net assets	$	2,347,175,163	$	2,018,853,995
Shares outstanding	120,809,873		117,873,650
Net asset value per share	$	19.43	$	17.13

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2023)

	% of Net Assets
Microsoft Corporation	7.4%
Apple Inc.	6.6%
Alphabet Inc. Class A	4.1%
NVIDIA Corporation	3.1%
Amazon.com, Inc.	3.0%
Adams Natural Resources Fund, Inc.*	2.2%
JPMorgan Chase & Co.	2.0%
Visa Inc. Class A	2.0%
UnitedHealth Group Incorporated	1.9%
Meta Platforms, Inc. Class A	1.8%
Total	34.1%
*Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (9/30/2023)

	% of Net Assets
Information Technology	27.6%
Health Care	13.1%
Consumer Discretionary	11.0%
Financials	12.6%
Communication Services	8.8%
Industrials	8.2%
Consumer Staples	6.5%
Energy	5.0%
Materials	2.5%
Real Estate	2.3%
Utilities	2.1%

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

FAQ

What was the total return on Adams Diversified Equity's net asset value?

The total return on Adams Diversified Equity's net asset value was 12.8%.

What was the total return on the market price of the Fund's shares?

The total return on the market price of the Fund's shares for the period was 15.5%.

What was the total return on Adams Diversified Equity's net asset value for the twelve months ended September 30th?

The total return on Adams Diversified Equity's net asset value for the twelve months ended September 30th was 21.5%.

What was the total return on the market price of the Fund's shares for the twelve months ended September 30th?

The total return on the market price of the Fund's shares for the twelve months ended September 30th was 22.3%.

What was the Fund's net asset value at September 30, 2023?

The Fund's net asset value at September 30, 2023, was $2,347,175,163.

What were the ten largest equity portfolio holdings?

The ten largest equity portfolio holdings accounted for 34.1% of net assets.

What sector accounted for the largest percentage of net assets?

The Information Technology sector accounted for 27.6% of net assets.