BALTIMORE, Jan. 21, 2021 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. ADX announces the Fund's investment returns for 2020. "We were pleased to generate an 18.8% return in 2020, in line with our benchmark and two percentage points ahead of our peer group," said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund's net asset value for 2020 was 18.8%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Funds Average were 18.4% and 16.8%, respectively. The total return on the Fund's market price for the period was 16.4%.
The Fund paid $1.03 per share in income dividends and realized capital gain distributions to shareholders in 2020, producing an annual distribution rate of 6.8%, exceeding the Fund's annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.
The Fund will be holding a conference call on January 27, 2021 at 2:00 pm EST to discuss our 2020 performance. We invite shareholders to submit questions to investorrelations@adamsfunds.com. The call may be accessed at adamsfunds.com or by calling 1-844-707-6796 and requesting the Adams Funds conference call. A replay of the call will be available through February 27, 2021 by dialing 1-877-344-7529. The access code is 10149978.
The 2020 Annual Report is expected to be released on or about February 23, 2021.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/20)
1 Year | 3 Year | 5 Year | |
Adams Diversified Equity Fund (NAV) | 18.8% | 15.0% | 16.0% |
Adams Diversified Equity Fund (market price) | 16.4% | 15.3% | 16.2% |
Lipper Large-Cap Core Funds Average | 16.8% | 12.9% | 13.8% |
S&P 500 | 18.4% | 14.2% | 15.2% |
NET ASSET VALUE ANNOUNCED
The Fund's net asset value at the end of 2020, compared with the year earlier, was:
12/31/20 | 12/31/19 | |
Net assets | $2,227,273,138 | $1,951,591,643 |
Shares outstanding | 111,027,460 | 108,865,052 |
Net asset value per share | $20.06 | $17.93 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/20)
% of Net Assets | |
Apple Inc. | 6.9% |
Microsoft Corporation | 6.6% |
Amazon.com, Inc. | 4.9% |
Alphabet Inc. Class A | 3.1% |
Facebook, Inc. Class A | 2.6% |
UnitedHealth Group Incorporated | 2.1% |
Visa Inc. Class A | 1.9% |
Thermo Fisher Scientific Inc. | 1.8% |
Mastercard Incorporated Class A | 1.8% |
JPMorgan Chase & Co. | 1.7% |
Total | 33.4% |
SECTOR WEIGHTINGS (12/31/20)
% of Net Assets | |
Information Technology | 27.5% |
Health Care | 13.7% |
Consumer Discretionary | 11.4% |
Communication Services | 10.7% |
Financials | 10.6% |
Industrials | 8.8% |
Consumer Staples | 6.7% |
Utilities | 2.9% |
Real Estate | 2.6% |
Energy | 2.3% |
Materials | 2.0% |
During the fourth quarter, we initiated new positions in Carrier Global, Intuit, Lamb Weston Holdings, Liberty SiriusXM Group, Microchip Technology, Public Service Enterprise Group, T-Mobile US, Tesla Motors, and TJX Companies.
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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. ADX and Adams Natural Resources Fund, Inc. 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.
Contact: Lyn Walther | Director of Shareholder Communications | investorrelations@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.
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