Adams Natural Resources Fund Reports Nine Month Results

Rhea-AI Summary

Adams Natural Resources Fund (NYSE: PEO) reported a total return of 19.1% on net asset value (NAV) for the nine months ending September 30, 2022, slightly below its benchmark's 19.7%. The total return on share market price was 19.5%. For the twelve months, both NAV and benchmark returns were 31.4%, while share market price return was 30.4%. The Fund’s net assets grew to $552.66 million from $434.78 million a year earlier, and shares outstanding increased to 24,485,314.

Positive

• Total return on NAV for 12 months was 31.4%, matching benchmark.
• Net assets increased to $552.66 million from $434.78 million year-over-year.
• Total return on market price for 12 months was 30.4%, showing strong performance.

Negative

• Total return on NAV for 9 months was 19.1%, below the 19.7% benchmark.

BALTIMORE, Oct. 20, 2022 (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 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 30^th, 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 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 are the recent performance results for Adams Natural Resources Fund (NYSE: PEO)?

For the nine months ended September 30, 2022, Adams Natural Resources Fund reported a total return of 19.1% on net asset value, compared to 19.7% for its benchmark.

How did Adams Natural Resources Fund perform over the last twelve months?

The total return on the Fund's net asset value for the twelve months ended September 30, 2022, was 31.4%, which matched its benchmark.

What was the net asset value of Adams Natural Resources Fund (PEO) as of September 30, 2022?

As of September 30, 2022, the net asset value of Adams Natural Resources Fund was $552.66 million.

How many shares were outstanding for Adams Natural Resources Fund (PEO) at the end of September 2022?

At the end of September 2022, there were 24,485,314 shares outstanding for Adams Natural Resources Fund.