Adams Diversified Equity Fund Reports Nine Month Results

Rhea-AI Summary

Adams Diversified Equity Fund (NYSE: ADX) reported total returns for the nine months ending September 30, 2022, with a net asset value decrease of -23.2%, compared to the S&P 500's -23.9% and the Morningstar U.S. Large Blend category's -24.0%. For the year, returns were -13.2% on net asset value and -14.8% on market price. As of September 30, 2022, the fund's net assets totaled $2.02 billion, down from $2.54 billion a year prior, with shares outstanding increasing to 117.87 million.

Positive

• Adams Diversified Equity Fund's net asset value performance was better than the S&P 500 and Morningstar U.S. Large Blend category for the one-year period.
• The Fund continues to maintain a strong commitment to providing annual distributions of 6% or more, ensuring reliable income for long-term investors.

Negative

• Total return on net asset value for nine months was -23.2%.
• Decline in net assets from $2.54 billion to $2.02 billion over the year indicates significant capital erosion.
• Market price return was -24.3% for the nine months, reflecting underperformance compared to the net asset value.

BALTIMORE, Oct. 20, 2022 (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 -23.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category Average were -23.9% and -24.0%, respectively. The total return on the market price of the Fund’s shares for the period was -24.3%.

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 -13.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -15.5% and -16.0%, respectively. The total return on the market price of the Fund’s shares for the period was -14.8%.

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 Diversified Equity Fund (NAV)	-13.2%		8.6%	10.3%	12.1%
Adams Diversified Equity Fund (market price)	-14.8%		7.2%	10.0%	11.9%
Morningstar U.S. Large Blend Category	-16.0%		7.4%	8.3%	10.8%
S&P 500	-15.5%		8.2%	9.2%	11.7%

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	$2,018,853,995	$2,538,318,809
Shares outstanding	117,873,650	111,027,198
Net asset value per share	$17.13	$22.86

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

	% of Net Assets
Microsoft Corporation	7.1%
Apple Inc.	6.7%
Alphabet Inc. Class A	4.0%
Amazon.com, Inc.	3.1%
UnitedHealth Group Incorporated	2.5%
Adams Natural Resources Fund, Inc.*	2.1%
Thermo Fisher Scientific Inc.	1.9%
Tesla, Inc.	1.9%
CVS Health Corporation	1.8%
Mastercard Incorporated Class A	1.7%
Total	32.8%
*Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (09/30/22)

	% of Net Assets
Information Technology	26.0%
Health Care	15.3%
Consumer Discretionary	11.9%
Financials	10.9%
Communication Services	8.1%
Industrials	7.8%
Consumer Staples	6.5%
Energy	5.0%
Utilities	2.9%
Real Estate	2.6%
Materials	2.3%

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 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

FAQ

What were the recent total returns for Adams Diversified Equity Fund (NYSE: ADX)?

For the nine months ending September 30, 2022, Adams Diversified Equity Fund reported a total return of -23.2% on net asset value.

How does Adams Diversified Equity Fund's performance compare to the S&P 500?

For the same period, the S&P 500 had a total return of -23.9%, making Adams Diversified Equity Fund's performance slightly better.

What is the total net asset value of Adams Diversified Equity Fund as of September 30, 2022?

As of September 30, 2022, the net asset value of Adams Diversified Equity Fund was $2.02 billion.

What were the returns for Adams Diversified Equity Fund over the past year?

For the twelve months ending September 30, 2022, the total return on net asset value was -13.2%.

How many shares are outstanding for Adams Diversified Equity Fund (NYSE: ADX)?

As of September 30, 2022, there were 117.87 million shares outstanding for Adams Diversified Equity Fund.