Adams Diversified Equity Fund Reports Nine Month Results

Adams Diversified Equity Fund, Inc. (NYSE: ADX) today announced the Fund’s results for the nine months ended September 30th. The total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 21.3%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 22.1% and 20.4%, respectively. The total return on the market price of the Fund’s shares for the period was 24.9%.

For the twelve months ended September 30th, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 37.0%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 36.4% and 34.5%, respectively. The total return on the market price of the Fund’s shares for the period was 41.9%.

The Third Quarter Report to Shareholders is expected to be available on or about October 23, 2024.

ANNUALIZED COMPARATIVE RETURNS (9/30/2024)
	1 Year	3 Year	5 Year	10 Year
Adams Diversified Equity Fund (NAV)	37.0%	13.1%	16.4%	14.0%
Adams Diversified Equity Fund (market price)	41.9%	13.9%	16.4%	14.4%
Morningstar U.S. Large Blend Category	34.5%	10.6%	14.9%	12.0%
S&P 500	36.4%	11.9%	16.0%	13.4%

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at September 30, 2024, compared with the year earlier, was:

	9/30/2024	9/30/2023
Net assets	$2,739,312,275	$2,347,175,163
Shares outstanding	112,690,081	120,809,873
Net asset value per share	$24.31	$19.43

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024)
	% of Net Assets
Apple Inc.	7.7%
Microsoft Corporation	7.4%
NVIDIA Corporation	6.3%
Amazon.com, Inc.	4.1%
Alphabet Inc. Class A	3.5%
Meta Platforms, Inc. Class A	2.8%
JPMorgan Chase & Co.	2.0%
Adams Natural Resources Fund, Inc.*	1.9%
Broadcom Inc.	1.8%
Eli Lilly and Company	1.8%
Total	39.3%
*Non-controlled affiliated closed-end fund

SECTOR WEIGHTINGS (9/30/2024)
	% of Net Assets
Information Technology	31.0%
Financials	12.5%
Health Care	11.6%
Consumer Discretionary	10.3%
Communication Services	9.0%
Industrials	8.5%
Consumer Staples	6.1%
Energy	3.6%
Utilities	2.4%
Real Estate	2.3%
Materials	2.1%

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 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 please contact: adamsfunds.com/about/contact │800.638.2479