Adams Natural Resources Fund Announces First Half 2025 Performance

Rhea-AI Summary

Adams Natural Resources Fund (NYSE: PEO) reported its first half 2025 performance with a 2.3% total return on net asset value (NAV), outperforming its benchmark's return of 1.8%. The Fund's market price achieved a 3.1% total return for the same period.

The Fund's net assets stood at $634.7 million as of June 30, 2025, with a NAV per share of $23.61. The portfolio maintains significant exposure to energy sector leaders, with Exxon Mobil (22.7%) and Chevron (11.5%) as its largest holdings. Energy sector investments focus primarily on Integrated Oil & Gas (35.1%) and Exploration & Production (19.8%).

Positive

• Outperformed benchmark return (2.3% vs 1.8%) in first half 2025
• Market price return of 3.1% exceeded NAV return
• Strong 3-year annualized return of 10.7% on NAV
• Well-diversified portfolio across energy and materials sectors

Negative

• Net assets declined from $689.9M to $634.7M year-over-year
• NAV per share decreased from $27.11 to $23.61 year-over-year
• Negative 1-year return of -2.2% on NAV
• Underperformed S&P 500 Materials Sector's 6.0% return in first half 2025

BALTIMORE, July 17, 2025 (GLOBE NEWSWIRE) -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for the first half of 2025. The total return on the Fund’s net asset value for the first half of 2025 was 2.3%, with dividends and capital gains reinvested. The comparable figures for the S&P Energy Sector and the S&P 500 Materials Sector were 0.8% and 6.0%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (80%) and the S&P 500 Materials Sector (20%), returned 1.8%. The total return on the Fund’s market price for the same period was 3.1%.

The Semi-Annual Report to Shareholders is expected to be available on or about July 23, 2025.

ANNUALIZED COMPARATIVE RETURNS (6/30/2025)
	1 Year	3 Year	5 Year	10 Year
Adams Natural Resources Fund (NAV)	-2.2%	10.7%	21.2%	6.1%
Adams Natural Resources Fund (market price)	1.7%	12.3%	22.1%	6.8%
S&P 500 Energy Sector	-4.0%	9.7%	22.5%	5.5%
S&P 500 Materials Sector	1.9%	8.4%	11.6%	8.5%

NET ASSET VALUE ANNOUNCED

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

	6/30/2025	6/30/2024
Net assets	$634,743,865	$689,986,546
Shares outstanding	26,888,697	25,453,641
Net asset value per share	$23.61	$27.11

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (6/30/2025)
	% of Net Assets
Exxon Mobil Corporation	22.7%
Chevron Corporation	11.5%
ConocoPhilips	5.3%
Linde plc	4.7%
EOG Resources, Inc.	3.8%
Williams Companies, Inc.	3.6%
Kinder Morgan, Inc.	2.9%
Hess Corporation	2.9%
Phillips 66	2.8%
Marathon Petroleum Corporation	2.7%
Total	62.9%

INDUSTRY WEIGHTINGS (6/30/2025)
	% of Net Assets
Energy
Integrated Oil & Gas	35.1%
Exploration & Production	19.8%
Storage & Transportation	11.6%
Refining & Marketing	7.2%
Equipment & Services	5.1%
Materials
Chemicals	13.6%
Metals & Mining	3.6%
Containers & Packaging	1.8%
Construction 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 or 800.638.2479

FAQ

What was Adams Natural Resources Fund's (PEO) performance in first half 2025?

PEO achieved a 2.3% total return on NAV and 3.1% on market price, outperforming its benchmark return of 1.8%.

What are the largest holdings in PEO's portfolio as of June 30, 2025?

The largest holdings are Exxon Mobil (22.7%), Chevron (11.5%), and ConocoPhillips (5.3%), with the top 10 holdings representing 62.9% of net assets.

How has PEO's net asset value changed from June 2024 to June 2025?

PEO's net assets decreased from $689.9 million to $634.7 million, with NAV per share declining from $27.11 to $23.61.

What are PEO's main sector allocations as of June 30, 2025?

The main allocations are Integrated Oil & Gas (35.1%), Exploration & Production (19.8%), and Chemicals (13.6%).

What are PEO's long-term performance metrics?

PEO has delivered 10.7% 3-year, 21.2% 5-year, and 6.1% 10-year annualized returns on NAV as of June 30, 2025.