BALTIMORE, Jan. 16, 2025 (GLOBE NEWSWIRE) — Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for 2024. The total return on the Fund’s net asset value for 2024 was 5.3%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were 5.7% and 0.0%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (80%) and the S&P 500 Materials Sector (20%), returned 4.6%. The total return on the Fund’s market price for the same period was 13.8%.
The Fund paid $1.77 per share in income dividends and realized capital gain distributions to shareholders in 2024, producing an annual distribution rate of 6.7% of net asset value.
“The Energy market presented challenges in 2024. Our disciplined approach supported good stock selection that enabled the Fund to outperform its benchmark,” said Jim Haynie, CEO of Adams Funds.
The 2024 Annual Report is expected to be released on or about February 19, 2025.
| ANNUALIZED ONE, THREE, FIVE, AND TEN-YEAR COMPARATIVE RETURNS (12/31/24) | ||||
| 1 Year | 3 Year | 5 Year | 10 Year | |
| Adams Natural Resources Fund (NAV) | 5.3% | 16.1% | 12.5% | 5.5% |
| Adams Natural Resources Fund (market price) | 13.8% | 17.8% | 13.0% | 5.8% |
| S&P 500 Energy Sector | 5.7% | 20.0% | 12.1% | 4.9% |
| S&P 500 Materials Sector | 0.0% | -0.4% | 8.7% | 7.9% |
NET ASSET VALUE ANNOUNCED
The Fund’s net asset value at the end of 2024, compared with the year earlier, was:
| 12/31/24 | 12/31/23 | |
| Net assets | $636,334,398 | $633,446,941 |
| Shares outstanding | 26,284,550 | 25,514,441 |
| Net asset value per share | $24.21 | $24.83 |
| TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/24) | |
| % of Net Assets | |
| Exxon Mobil Corporation | 24.2% |
| Chevron Corporation | 11.6% |
| ConocoPhillips | 6.4% |
| Linde plc | 4.6% |
| EOG Resources, Inc. | 4.2% |
| Williams Companies, Inc.. | 3.1% |
| ONEOK, Inc. | 3.0% |
| Hess Corporation | 2.9% |
| Baker Hughes Company | 2.8% |
| Phillips 66 | 2.5% |
| Total | 65.3% |
| INDUSTRY WEIGHTINGS (12/31/24) | |
| % of Net Assets | |
| Energy | |
| Integrated Oil & Gas | 35.8% |
| Exploration & Production | 20.7% |
| Storage & Transportation | 10.3% |
| Refining & Marketing | 6.4% |
| Equipment & Services | 6.3% |
| Energy Related | 0.5% |
| Materials | |
| Chemicals | 13.0% |
| Metals & Mining | 3.1% |
| Containers & Packaging | 1.9% |
| Construction Materials | 1.5% |
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 please contact: adamsfunds.com/about/contact │800.638.2479
