Adams Natural Resources Fund Declares Distribution and Announces First Half Performance
Adams Natural Resources Fund declares distribution of $.10 per share from net investment income. First half performance shows total return on net asset value of -3.1%. Annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023. The Fund's net asset value at June 30, 2023, was $24.81 per share. Exxon Mobil Corporation is the largest equity portfolio holding at 23.1%.
Positive
Adams Natural Resources Fund declares distribution of $.10 per share from net investment income.
Annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023.
The Fund's net asset value at June 30, 2023, was $24.81 per share.
Exxon Mobil Corporation is the largest equity portfolio holding at 23.1%.
Negative
First half performance shows total return on net asset value of -3.1%.
07/20/2023 - 04:10 PM
BALTIMORE, July 20, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Adams Natural Resources Fund, Inc. (NYSE: PEO) today declared a distribution of $.10 per share from net investment income, payable September 1, 2023, to shareholders of record August 18, 2023. This distribution represents the third payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.
FIRST HALF PERFORMANCE
For the six months ended June 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was -3.1% . This compares to a total return of -3.3% for the Fund’s benchmark, which is comprised of the S&P 500 Energy Sector (83% weight) and the S&P 500 Materials Sector (17% weight), over the same period. The total return on the market price of the Fund’s shares for the period was -3.6% .
For the twelve months ended June 30th, the total return on Adams Natural Resources’ net asset value, with dividends and capital gains reinvested, was 19.1% . This compares to a total return of 18.3% for the Fund’s benchmark, over the same period. The total return on the market price of the Fund’s shares for the period was 15.2% .
The Semi-Annual Report to Shareholders is expected to be available on or about July 27, 2023.
ANNUALIZED COMPARATIVE RETURNS (6/30/2023)
1 Year 3 Year 5 Year Adams Natural Resources Fund (NAV) 19.1% 31.9% 7.7% Adams Natural Resources Fund (market price) 15.2% 30.1% 7.5% S&P 500 Energy Sector 18.8% 35.4% 6.6% S&P 500 Materials Sector 15.1% 16.0% 9.8%
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at June 30, 2023, compared with the year earlier, was:
6/30/2023 6/30/2022 Net assets $620,953,602 $549,582,157 Shares outstanding 25,033,377 24,485,265 Net asset value per share $24.81 $22.45
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (06/30/2023)
% of Net Assets Exxon Mobil Corporation 23.1% Chevron Corporation 13.6% ConocoPhilips 7.1% Schlumberger N.V. 4.4% Linde plc 4.0% Marathon Petroleum Corporation 3.5% Pioneer Natural Resources Company 3.4% Phillips 66 2.9% Hess Corporation 2.7% EOG Resources 2.4% Total 67.1%
INDUSTRY WEIGHTINGS (6/30/2023)
% of Net Assets Energy 80.8% Integrated Oil & Gas 36.7% Exploration & Production 23.3% Refining & Marketing 8.0% Equipment & Services 7.1% Storage & Transportation 5.7% Materials 18.5% Chemicals 13.5% Metals & Mining 3.2% Containers & Packaging 1.0% Construction Materials 0.8%
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 85 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.
For further information please contact: adamsfunds.com/about/contact or 800.638.2479
What is the distribution declared by Adams Natural Resources Fund?
Adams Natural Resources Fund has declared a distribution of $.10 per share from net investment income.
What are the annualized comparative returns for the Fund?
The annualized comparative returns for the Fund are 19.1% (NAV) and 15.2% (market price) for the twelve months ended June 30, 2023.
What is the net asset value per share of the Fund at June 30, 2023?
The net asset value per share of the Fund at June 30, 2023, was $24.81.
Which company is the largest equity portfolio holding of the Fund?
Exxon Mobil Corporation is the largest equity portfolio holding of the Fund at 23.1%.
Adams Diversified Equity Fund
ADX Rankings
#1919 Ranked by Stock Gains
ADX Stock Data
Industry
Offices of Other Holding Companies
Sector
Management of Companies and Enterprises
Tags
Miscellaneous, Investment Trusts/Mutual Funds
Country
US
City
Baltimore
About ADX
adams funds is composed of two of the country’s oldest closed-end equity funds - adams diversified equity fund, inc. (nyse:adx) and adams natural resources fund, inc. (nyse:peo). as closed-end funds, shares of each fund’s common stock are listed and trade on the new york stock exchange. for over 85 years, both funds have been internally managed and have generated capital growth and income through portfolio performance, dividends, and distributions. the funds are managed by an experienced team employing a disciplined approach to identify investment opportunities and carefully manage risk. our funds have paid dividends for over 80 years and are committed to an annual distribution rate of at least 6%.