Adams Natural Resources Fund Inc.
10/17/2024 | Press release | Distributed by Public on 10/17/2024 14:12
ADAMS NATURAL RESOURCES FUND REPORTS NINE MONTH RESULTS
BALTIMORE, MARYLAND, October 17, 2024 - Adams Natural Resources Fund, Inc. (NYSE: PEO) today announced the Fund's results for the nine months ended September 30th. The total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was 10.2%. This compares to a total return of 9.5% for the Fund's benchmark, which is comprised of the S&P 500 Energy Sector (80% weight) and the S&P 500 Materials Sector (20% weight), over the same period. The total return on the market price of the Fund's shares for the period was 16.3%.
For the twelve months ended September 30th, the total return on Adams Natural Resources' net asset value, with dividends and capital gains reinvested, was 6.2%. Comparable return for the Fund's benchmark was 4.9%. The total return on the market price of the Fund's shares for the period was 9.2%.
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 Natural Resources Fund (NAV) | 6.2% | 21.8% | 14.6% | 4.4% |
| Adams Natural Resources Fund (market price) | 9.2% | 22.1% | 15.5% | 4.8% |
| S&P 500 Energy Sector | 0.9% | 24.1% | 13.9% | 4.0% |
| S&P 500 Materials Sector | 25.2% | 9.1% | 13.0% | 9.1% |
NET ASSET VALUE ANNOUNCED
| 9/30/2024 | 9/30/2023 | |
| Net assets | $681,420,546 | $678,249,981 |
| Shares outstanding | 25,728,942 | 25,024,860 |
| Net asset value per share | $26.48 | $27.10 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2024)
| % of Net Assets | |
| Exxon Mobil Corporation | 25.6% |
| Chevron Corporation | 11.2% |
| ConocoPhillips | 5.4% |
| Linde plc | 4.7% |
| EOG Resources, Inc. | 3.9% |
| Marathon Petroleum Corporation | 3.3% |
| Williams Companies, Inc. | 3.0% |
| Hess Corporation | 2.8% |
| ONEOK, Inc. | 2.5% |
| Valero Energy Corporation | 2.4% |
| Total | 64.8% |
INDUSTRY WEIGHTINGS (9/30/2024)
| % of Net Assets | |
| Energy | |
| Integrated Oil & Gas | 37.4% |
| Exploration & Production | 18.3% |
| Storage & Transportation | 8.2% |
| Refining & Marketing | 7.6% |
| Equipment & Services | 5.9% |
| Energy Related | 1.0% |
| Materials | |
| Chemicals | 14.2% |
| Metals & Mining | 4.0% |
| Construction Materials | 1.3% |
| Containers & Packaging | 1.2% |
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