Adams Natural Resources Fund Reports Nine Month Results
BALTIMORE, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. $(PEO)$ 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 10.2%. This compares to a total return of 9.5% for the Fund's benchmark, which is comprised of the S&P 500 Energy Sector (80% weight) and the S&P 500 Materials Sector (20% weight), over the same period. The total return on the market price of the Fund's shares for the period was 16.3%.
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 6.2%. Comparable return for the Fund's benchmark was 4.9%. The total return on the market price of the Fund's shares for the period was 9.2%.
The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.
ANNUALIZED COMPARATIVE RETURNS (9/30/2024)
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1 Year 3 Year 5 Year 10 Year
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Adams Natural Resources Fund $(NAV)$ 6.2% 21.8% 14.6% 4.4%
Adams Natural Resources Fund (market price) 9.2% 22.1% 15.5% 4.8%
S&P 500 Energy Sector 0.9% 24.1% 13.9% 4.0%
S&P 500 Materials Sector 25.2% 9.1% 13.0% 9.1%
NET ASSET VALUE ANNOUNCED
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The Fund's net asset value at September 30, 2024,
compared with the year earlier, was:
9/30/2024 9/30/2023
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Net assets $681,420,546 $678,249,981
Shares outstanding 25,728,942 25,024,860
Net asset value per share $26.48 $27.10
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024)
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% of Net Assets
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Exxon Mobil Corporation 25.6%
Chevron Corporation 11.2%
ConocoPhillips 5.4%
Linde plc 4.7%
EOG Resources, Inc. 3.9%
Marathon Petroleum Corporation 3.3%
Williams Companies, Inc. 3.0%
Hess Corporation 2.8%
ONEOK, Inc. 2.5%
Valero Energy Corporation 2.4%
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Total 64.8%
INDUSTRY WEIGHTINGS (9/30/2024)
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% of Net Assets
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Energy
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Integrated Oil & Gas 37.4%
Exploration & Production 18.3%
Storage & Transportation 8.2%
Refining & Marketing 7.6%
Equipment & Services 5.9%
Energy Related 1.0%
Materials
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Chemicals 14.2%
Metals & Mining 4.0%
Construction Materials 1.3%
Containers & Packaging 1.2%
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. (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 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
(END) Dow Jones Newswires
October 17, 2024 16:05 ET (20:05 GMT)
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