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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adams Natural Resources Fund Inc | NYSE:PEO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.17 | 0.74% | 23.25 | 23.29 | 22.83 | 23.12 | 41,157 | 23:44:22 |
The total return on the Fund’s net asset value for 2023 was 2.5%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were -1.3% and 12.6%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (83%) and the S&P 500 Materials Sector (17%), returned 1.0%. The total return on the Fund’s market price for the same period was 1.0%.
The Fund paid $1.35 per share in income dividends and realized capital gain distributions to shareholders in 2023, producing an annual distribution rate of 6.2%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at adamsfunds.com.
The 2023 Annual Report is expected to be released on or about February 15, 2024.
ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/23)
1 Year | 3 Year | 5 Year | |
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% |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at the end of 2023, compared with the year earlier, was:
12/31/23 | 12/31/22 | |
Net assets | $633,446,941 | $651,336,441 |
Shares outstanding | 25,514,441 | 25,193,556 |
Net asset value per share | $24.83 | $25.85 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/23)
% of Net Assets | |
Exxon Mobil Corporation | 18.5% |
Chevron Corporation | 12.4% |
ConocoPhillips | 7.5% |
Linde plc | 4.6% |
Marathon Petroleum Corporation | 3.9% |
EOG Resources, Inc. | 3.6% |
Pioneer Natural Resources Company | 3.6% |
Schlumberger N.V. | 3.5% |
Phillips 66 | 3.2% |
Hess Corporation | 2.9% |
Total | 63.7% |
INDUSTRY WEIGHTINGS (12/31/23)
% of Net Assets | |
Energy | |
Integrated Oil & Gas | 31.5% |
Exploration & Production | 25.3% |
Refining & Marketing | 8.9% |
Equipment & Services | 7.6% |
Storage & Transportation | 6.2% |
Materials | |
Chemicals | 14.7% |
Metals & Mining | 2.9% |
Construction Materials | 1.6% |
Containers & Packaging | 0.9% |
About Adams FundsSince 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 │800.638.2479
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