Adams Diversified Equity Fund Announces 2020 Performance and January 27 Conference Call

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BALTIMORE, Jan. 21, 2021 /PRNewswire/ -- Adams Diversified Equity Fund, Inc. (NYSE: ADX) announces the Fund's investment returns for 2020. "We were pleased to generate an 18.8% return in 2020, in line with our benchmark and two percentage points ahead of our peer group," said Mark Stoeckle, CEO of Adams Funds.

Adams Funds (PRNewsFoto/Adams Funds)
Adams Funds (PRNewsFoto/Adams Funds)

The total return on the Fund's net asset value for 2020 was 18.8%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Index and the Lipper Large-Cap Core Funds Average were 18.4% and 16.8%, respectively. The total return on the Fund's market price for the period was 16.4%.

The Fund paid $1.03 per share in income dividends and realized capital gain distributions to shareholders in 2020, producing an annual distribution rate of 6.8%, exceeding the Fund's annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.

The Fund will be holding a conference call on January 27, 2021 at 2:00 pm EST to discuss our 2020 performance. We invite shareholders to submit questions to investorrelations@adamsfunds.com. The call may be accessed at adamsfunds.com or by calling 1-844-707-6796 and requesting the Adams Funds conference call. A replay of the call will be available through February 27, 2021 by dialing 1-877-344-7529. The access code is 10149978.

The 2020 Annual Report is expected to be released on or about February 23, 2021.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/20)


1 Year

3 Year

5 Year

Adams Diversified Equity Fund (NAV)

18.8%

15.0%

16.0%

Adams Diversified Equity Fund (market price)

16.4%

15.3%

16.2%

Lipper Large-Cap Core Funds Average

16.8%

12.9%

13.8%

S&P 500

18.4%

14.2%

15.2%

NET ASSET VALUE ANNOUNCED

The Fund's net asset value at the end of 2020, compared with the year earlier, was:


12/31/20

12/31/19

Net assets

$2,227,273,138

$1,951,591,643

Shares outstanding

111,027,460

108,865,052

Net asset value per share

$20.06

$17.93


TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/20)


% of Net Assets

Apple Inc.

6.9%

Microsoft Corporation

6.6%

Amazon.com, Inc.

4.9%

Alphabet Inc. Class A

3.1%

Facebook, Inc. Class A

2.6%

UnitedHealth Group Incorporated

2.1%

Visa Inc. Class A

1.9%

Thermo Fisher Scientific Inc.

1.8%

Mastercard Incorporated Class A

1.8%

JPMorgan Chase & Co.

1.7%

Total

33.4%



SECTOR WEIGHTINGS (12/31/20)


% of Net Assets

Information Technology

27.5%

Health Care

13.7%

Consumer Discretionary

11.4%

Communication Services

10.7%

Financials

10.6%

Industrials

8.8%

Consumer Staples

6.7%

Utilities

2.9%

Real Estate

2.6%

Energy

2.3%

Materials

2.0%

During the fourth quarter, we initiated new positions in Carrier Global, Intuit, Lamb Weston Holdings, Liberty SiriusXM Group, Microchip Technology, Public Service Enterprise Group, T-Mobile US, Tesla Motors, and TJX Companies.

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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 80 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.

Contact: Lyn Walther | Director of Shareholder Communications | investorrelations@adamsfunds.com

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SOURCE Adams Diversified Equity Fund, Inc.