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Adams Diversified Equity Fund Announces 2024 Performance

BALTIMORE, Jan. 16, 2025 (GLOBE NEWSWIRE) — Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund’s investment returns for 2024. The total return on the Fund’s net asset value for 2024 was 23.6%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and Morningstar U.S. Large Blend Category were 25.0% and 22.7%, respectively. The total return on the Fund’s market price for the period was 28.1%.

The Fund paid $2.50 per share in income dividends and realized capital gain distributions to shareholders in 2024, producing an annual distribution rate of 10.9% on net asset value.

“In a year of increased volatility related to the presidential election, we were pleased to outperform our peers in 2024 and distribute 10.9% of NAV to shareholders, significantly more than our new commitment adopted mid-year to annually distribute 8% of NAV,” said Jim Haynie, CEO of Adams Funds.

The 2024 Annual Report is expected to be released on or about February 19, 2025.

 
ANNUALIZED ONE, THREE, FIVE, AND TEN-YEAR COMPARATIVE RETURNS (12/31/24)
 
  1 Year 3 Year 5 Year 10 Year
Adams Diversified Equity Fund  (NAV) 23.6 % 9.2 % 15.0 % 13.7 %
Adams Diversified Equity Fund (market price) 28.1 % 10.5 % 15.3 % 14.1 %
Morningstar U.S. Large Blend Category 22.7 % 7.8 % 13.3 % 11.8 %
S&P 500 25.0 % 8.9 % 14.5 % 13.1 %
                 

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2024, compared with the year earlier, was:

  12/31/24 12/31/23
Net assets $ 2,662,523,552 $ 2,550,393,350
Shares outstanding 117,585,976 124,051,639
Net asset value per share $ 22.64 $ 20.56
     

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/24)
 
  % of Net Assets
Apple Inc. 8.0 %
Microsoft Corporation.  7.1 %
NVIDIA Corporation 6.9 %
Amazon.com, Inc. 4.8 %
Alphabet Inc. Class A 3.9 %
Meta Platforms, Inc. Class A 2.8 %
Broadcom Inc. 2.5 %
Adams Natural Resources Fund, Inc.* 1.9 %
JP Morgan Chase & Co. 1.9 %
Tesla, Inc. 1.8 %
     Total 41.6 %
* Non-controlled affiliated closed-end fund.    
     

SECTOR WEIGHTINGS (12/31/24)
 
  % of Net Assets
Information Technology 32.4 %
Financials 13.4 %
Consumer Discretionary 11.4 %
Health Care 9.9 %
Communication Services 9.3 %
Industrials 7.8 %
Consumer Staples 5.7 %
Energy 3.5 %
Utilities 2.2 %
Real Estate 2.0 %
Materials 1.7 %
     

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 90 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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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