Tiger Brokers

Adams Diversified Equity Fund Announces 2024 Performance

GlobeNewswire
17 Jan

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 Year3 Year5 Year10 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 Category22.7%7.8%13.3%11.8%
S&P 50025.0%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:

 12/31/2412/31/23
Net assets$2,662,523,552$2,550,393,350
Shares outstanding117,585,976124,051,639
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 Corporation6.9%
Amazon.com, Inc.4.8%
Alphabet Inc. Class A3.9%
Meta Platforms, Inc. Class A2.8%
Broadcom Inc.2.5%
Adams Natural Resources Fund, Inc.*1.9%
JP Morgan Chase & Co.1.9%
Tesla, Inc.1.8%
     Total41.6%
* Non-controlled affiliated closed-end fund.  
   
SECTOR WEIGHTINGS (12/31/24)
 
 % of Net Assets
Information Technology32.4%
Financials13.4%
Consumer Discretionary11.4%
Health Care9.9%
Communication Services9.3%
Industrials7.8%
Consumer Staples5.7%
Energy3.5%
Utilities2.2%
Real Estate2.0%
Materials1.7%
   

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


Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10