Adams Diversified Equity Fund Announces 2020 Performance and January 27 Conference Call
01/21/2021 - 04:13 PM
BALTIMORE , Jan. 21, 2021 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: 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 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. (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.
Contact: Lyn Walther | Director of Shareholder Communications | investorrelations@adamsfunds.com
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SOURCE Adams Diversified Equity Fund, Inc.
