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BALTIMORE, Jan. 18, 2024 (Globe Newswire) — Adams Natural Resources Fund, Inc. (NYSE:PEO) announces the fund’s investment returns for 2023. Compensate for some of your weaknesses. “Proper stock selection has enabled the fund to outperform its benchmark,” said Jim Haney, CEO of Adams Funds.
The Fund’s total return on net asset value in 2023, with dividends and capital gains reinvested, was 2.5%. Comparable numbers for the S&P 500 Energy sector and S&P 500 Materials sector were -1.3% and 12.6%, respectively. Our benchmark, which consists of the S&P 500 Energy sector (83%) and the S&P 500 Materials sector (17%), returned 1.0%. The fund’s total return on market value over the same period was 1.0%.
The Fund will pay an earnings dividend of $1.35 per share in 2023, realizing a capital gain distribution to shareholders, resulting in an annual distribution rate of 6.2%, exceeding the Fund’s annual minimum distribution commitment of 6.2%. More information about the 6% annual minimum distribution commitment can be found at adamsfunds.com.
The 2023 Annual Report is expected to be released on or about February 15, 2024.
1-year, 3-year, and 5-year annualized comparative returns (December 31, 2023)
| 1 year | 3 years | 5 years | |
| Adams Natural Resources Fund (NAV) | 2.5% | 29.9% | 14.2% |
| Adams Natural Resources Fund (market price) | 1.0% | 30.2% | 14.4% |
| S&P 500 Energy Sector | -1.3% | 36.2% | 13.4% |
| S&P 500 Materials Sector | 12.6% | 7.9% | 13.6% |
Announced net asset value
The fund’s net asset value at the end of 2023 compared to the previous year is as follows:
| December 31, 2023 | 22/12/31 | |
| net worth | $633,446,941 | $651,336,441 |
| Number of issued shares | 25,514,441 | 25,193,556 |
| Net assets per share | $24.83 | $25.85 |
10 largest companies with stock portfolio holdings (as of December 31, 2023)
| Percentage of net assets | |
| ExxonMobil Corporation | 18.5% |
| Chevron Corporation | 12.4% |
| conocophilips | 7.5% |
| Linde | 4.6% |
| Marathon Petroleum Corporation | 3.9% |
| EOG Resources Co., Ltd. | 3.6% |
| pioneer natural resources company | 3.6% |
| schlumberger nevada | 3.5% |
| phillips 66 | 3.2% |
| Hess Co., Ltd. | 2.9% |
| total | 63.7% |
Industry weighting (December 31, 2023)
| Percentage of net assets | |
| energy | |
| integrated oil and gas | 31.5% |
| exploration and production | 25.3% |
| Refining and marketing | 8.9% |
| Facilities and services | 7.6% |
| Storage and transportation | 6.2% |
| material | |
| chemicals | 14.7% |
| metals and mining | 2.9% |
| construction materials | 1.6% |
| container packaging | 0.9% |
About Adams Fund
Since 1929, the Adams Fund has consistently helped generations of investors achieve their investment goals. The Adams Fund is comprised of his two closed-end funds: Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The fund is actively managed by an experienced team with a disciplined approach and has paid dividends for over 85 years across many market cycles. The fund is committed to paying an annual distribution rate of at least 6%, providing reliable income for long-term investors. Shares may be purchased through our transfer agent or broker. For more information about Adams Funds, please visit adamsfunds.com.
For more information, please contact us below.
adamsfunds.com/about/contact │800.638.2479
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