Adams Natural Resources Fund Reports Nine Month Results

Rhea-AI Summary

Adams Natural Resources Fund reports 6.3% total return on net asset value for the nine months ended September 30th

Positive

• The total return on Adams Natural Resources' net asset value for the nine months ended September 30th was 6.3%
• The total return on the market price of the Fund's shares for the period was 7.5%
• For the twelve months ended September 30th, the total return on Adams Natural Resources' net asset value was 29.3%
• The total return on the market price of the Fund's shares for the period was 28.0%
• The Fund's net asset value at September 30, 2023, compared with the year earlier, increased from $552,664,703 to $678,249,981

Negative

• None.

BALTIMORE, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund’s results for the nine months ended September 30^th. The total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 6.3%. This compares to a total return of 5.5% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was 7.5%.

For the twelve months ended September 30^th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 29.3%. Comparable return for the Fund’s benchmark was 28.2%. The total return on the market price of the Fund’s shares for the period was 28.0%.

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 Natural Resources Fund (NAV)	29.3	%	41.0	%	9.6	%	5.1	%
Adams Natural Resources Fund (market price)	28.0	%	41.4	%	10.0	%	5.2	%
S&P 500 Energy Sector	30.2	%	51.4	%	9.0	%	5.1	%
S&P 500 Materials Sector	18.1	%	9.5	%	8.6	%	8.7	%

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	$	678,249,981	$	552,664,703
Shares outstanding		25,024,860		24,485,314
Net asset value per share	$	27.10	$	22.57

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

	% of Net Assets
Exxon Mobil Corporation	23.3	%
Chevron Corporation	13.5	%
ConocoPhillips	7.4	%
Schlumberger N.V.	4.1	%
Marathon Petroleum Corporation	3.9	%
Linde plc	3.7	%
Pioneer Natural Resources Company	3.3	%
Phillips 66	3.2	%
Hess Corporation	2.8	%
EOG Resources, Inc.	2.5	%
Total	67.7	%

INDUSTRY WEIGHTINGS (9/30/2023)

	% of Net Assets
Energy
Integrated Oil & Gas	37.6	%
Exploration & Production	23.8	%
Refining & Marketing	8.9	%
Equipment & Services	7.6	%
Storage & Transportation	5.1	%
Materials
Chemicals	12.0	%
Metals & Mining	2.1	%
Construction Materials	1.2	%
Containers & Packaging	0.9	%

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 Natural Resources' net asset value for the nine months ended September 30th?

The total return on Adams Natural Resources' net asset value for the nine months ended September 30th was 6.3%.

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

The total return on the market price of the Fund's shares for the period was 7.5%.

What was the total return on Adams Natural Resources' net asset value for the twelve months ended September 30th?

For the twelve months ended September 30th, the total return on Adams Natural Resources' net asset value was 29.3%.

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

The total return on the market price of the Fund's shares for the period was 28.0%.

What was the change in the Fund's net asset value from September 30, 2022 to September 30, 2023?

The Fund's net asset value increased from $552,664,703 to $678,249,981.