Adams Diversified Equity Fund Reports Nine Month Results

Rhea-AI Summary

Adams Diversified Equity Fund (NYSE: ADX) reported its investment returns for the first nine months of 2025. The Fund's NAV total return was 16.0% with dividends and capital gains reinvested and the market-price total return was 17.8% for the period. Comparative nine-month and annualized returns outpaced the S&P 500 and Morningstar U.S. Large Blend in several horizons. Net assets at 9/30/2025 were $2.986 billion and NAV per share was $24.61. The Third Quarter Report to Shareholders is expected on or about October 22, 2025.

Positive

• NAV total return +16.0% (first nine months of 2025)
• Market-price total return +17.8% (first nine months of 2025)
• Net assets reached $2.986 billion at 9/30/2025

Negative

• Information Technology concentration at 34.5% of net assets
• Top 10 holdings equal 42.4% of net assets (concentration risk)

Insights

Equity Fund Performance Analyst

Adams Diversified Equity Fund outperformed benchmarks through 9/30/2025; NAV and market returns show multi‑year strength.

The Fund reported a 16.0% total return on NAV and a 17.8% market‑price return for the first nine months of 2025, ahead of the S&P 500 (14.8%) and the Morningstar U.S. Large Blend category (13.4%). Annualized returns through 9/30/2025 show the Fund's NAV at 18.3% (1‑yr), 25.3% (3‑yr), 17.0% (5‑yr) and 16.0% (10‑yr), all above the listed benchmarks on the same horizons.

The Fund's net assets rose to $2,986,405,308 at 9/30/2025 from $2,739,312,275 a year earlier, with shares outstanding increasing to 121,337,257 from 112,690,081. Top equity exposures concentrated the portfolio in Information Technology (34.5%) and large positions in names such as NVIDIA Corporation (8.2%), Microsoft Corporation (7.4%) and Apple Inc. (7.0%), totaling 42.4% of net assets in the top ten holdings.

Key dependencies and risks include continued relative performance versus the S&P 500 and Morningstar peers and the impact of concentration in Information Technology and a small number of large caps; watch the upcoming Third Quarter Report expected on or about October 22, 2025 for detail on portfolio activity and realized gains or dividend changes. Over the near term (next quarter) monitor changes in shares outstanding and NAV per share ($24.61 at 9/30/2025) to assess whether market price premium/discount dynamics persist.

BALTIMORE, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund’s investment returns for the first nine months of 2025. The total return on the Fund’s net asset value for the first nine months of 2025 was 16.0%, with dividends and capital gains reinvested. This compared to 14.8% total return for the S&P 500 Index and 13.4% total return for the Morningstar U.S. Large Blend category. The total return on the Fund’s market price for the period was 17.8%.

The Third Quarter Report to Shareholders is expected to be available on or about October 22, 2025.

ANNUALIZED COMPARATIVE RETURNS (9/30/2025)
	1 Year	3 Year	5 Year	10 Year
Adams Diversified Equity Fund (NAV)	18.3%	25.3%	17.0%	16.0%
Adams Diversified Equity Fund (market price)	20.9%	28.0%	18.3%	16.7%
Morningstar U.S. Large Blend Category	15.2%	23.0%	15.2%	13.9%
S&P 500	17.6%	24.9%	16.5%	15.3%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at September 30, 2025, compared with the year earlier, was:

	9/30/2025	9/30/2024
Net assets	$2,986,405,308	$2,739,312,275
Shares outstanding	121,337,257	112,690,081
Net asset value per share	$24.61	$24.31

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2025)
% of Net Assets
NVIDIA Corporation	8.2%
Microsoft Corporation	7.4%
Apple Inc.	7.0%
Alphabet Inc. Class A	4.3%
Amazon.com, Inc.	3.8%
Meta Platforms, Inc. Class A	3.0%
Broadcom Inc.	2.9%
JPMorgan Chase & Co.	2.2%
Tesla, Inc.	1.8%
Adams Natural Resources Fund, Inc.*	1.8%
Total	42.4%
*Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (9/30/2025)
% of Net Assets
Information Technology	34.5%
Financials	13.1%
Consumer Discretionary	10.7%
Communication Services	10.1%
Health Care	9.0%
Industrials	7.8%
Consumer Staples	5.0%
Energy	3.2%
Utilities	2.4%
Real Estate	2.0%
Materials	1.6%

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: adamsfunds.com/about/contact │800.638.2479 

FAQ

What was Adams Diversified Equity Fund (ADX) NAV total return for the first nine months of 2025?

The Fund reported a 16.0% total return on NAV for the first nine months of 2025 with dividends and capital gains reinvested.

How did ADX market-price return compare to NAV in the first nine months of 2025?

ADX reported a 17.8% total return on market price versus 16.0% on NAV for the same period.

When will Adams Diversified Equity Fund publish its Third Quarter Report for 2025?

The Third Quarter Report to Shareholders is expected to be available on or about October 22, 2025.

What were ADX's net assets and NAV per share at September 30, 2025?

Net assets were $2.986 billion and NAV per share was $24.61 at 9/30/2025.

How concentrated is ADX's portfolio by sector at 9/30/2025?

Information Technology was 34.5% of net assets at 9/30/2025, the largest sector weighting.

Which stocks made up the largest positions in ADX's portfolio on 9/30/2025?

Top holdings included NVIDIA (8.2%), Microsoft (7.4%), and Apple (7.0%), with the top 10 totaling 42.4% of net assets.