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Adams Natural Resources Fund Announces 2022 Performance
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BALTIMORE, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for 2022. “In a difficult year for the broader market, significant exposure to energy generated a 44.9% return for our Fund,” said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund’s net asset value for the year was 44.9%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were 65.7% and -12.3%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (74%) and the S&P 500 Materials Sector (26%), returned 45.4%. The total return on the Fund’s market price for the same period was 42.2%.
The Fund paid $1.63 per share in income dividends and realized capital gain distributions to shareholders in 2022, producing an annual distribution rate of 8.1%, 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 2022 Annual Report is expected to be released on or about February 15, 2023.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/22)
1 Year
3 Year
5 Year
Adams Natural Resources Fund (NAV)
44.9%
18.5%
9.1%
Adams Natural Resources Fund (market price)
42.2%
17.1%
8.8%
S&P 500 Energy Sector
65.7%
19.3%
9.3%
S&P 500 Materials Sector
-12.3%
10.5%
7.5%
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at the end of 2022, compared with the year earlier, was:
12/31/22
12/31/21
Net assets
$651,336,441
$470,588,987
Shares outstanding
25,193,556
24,484,588
Net asset value per share
$25.85
$19.22
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/22)
% of Net Assets
Exxon Mobil Corporation
22.8%
Chevron Corporation
14.8%
ConocoPhillips
8.4%
Marathon Petroleum Corporation
3.9%
Schlumberger N.V.
3.5%
Pioneer Natural Resources Company
3.3%
Occidental Petroleum Corporation
3.2%
Linde plc
3.1%
Phillips 66
3.0%
EOG Resources, Inc.
2.9%
Total
68.9%
SECTOR WEIGHTINGS (12/31/22)
% of Net Assets
Energy
Integrated Oil & Gas
37.6%
Exploration & Production
26.8%
Refining & Marketing
8.6%
Equipment & Services
6.2%
Storage & Transportation
3.7%
Materials
Chemicals
10.0%
Metals & Mining
3.0%
Construction Materials
2.4%
Containers & Packaging
1.1%
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.
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%.