BALTIMORE, MARYLAND – January 12, 2017 – Adams Diversified Equity Fund , Inc (NYSE:ADX) announces the Fund’s investment returns for 2016. The Fund will be holding a conference call on January 26, 2017 at 2:00 pm EST to discuss our 2016 performance. The call may be accessed through the website www.adamsfunds.com or by calling 1-877-270-2148 and requesting the Adams Funds conference call.
The total return on the Fund’s net asset value for the twelve months ended December 31, 2016 was 9.2%, with dividends and capital gains reinvested. The comparable figures for the Lipper Large-Cap Core Mutual Funds Average and the S&P 500 Index were 10.1% and 12.0%, respectively. The total return on the Fund’s market price for the same period was 6.9%.
The Fund paid $0.99 per share in income dividends and realized capital gain distributions to shareholders in 2016, producing an annual distribution rate of 7.8%, exceeding the Fund’s annual 6% minimum distribution rate commitment. Details regarding the annual 6% minimum distribution rate commitment can be found at www.adamsfunds.com.
The 2016 Annual Report is expected to be released on or about February 24, 2017.
Annualized One, Three and Five-Year Comparative Returns (12/31/16)
| 1 Year | 3 Year | 5 Year | |
|---|---|---|---|
| Adams Diversified Equity Fund (NAV) | 9.2% | 8.3% | 13.6% |
| Adams Diversified Equity Fund (market price) | 6.9% | 7.0% | 13.6% |
| Lipper Large-Cap Core Mutual Funds Average | 10.1% | 6.8% | 13.1% |
| S&P 500 | 12.0% | 8.9% | 14.7% |
Net Asset Value Announced
The Fund’s net asset value at the end of 2016, compared with the year earlier, was:
| 12/31/16 | 12/31/15 | |
|---|---|---|
| Net assets | $1,513,497,727 | $1,472,144,157 |
| Shares outstanding | 99,436,824 | 97,913,946 |
| Net asset value per share | $15.22 | $15.04 |
Ten Largest Equity Portfolio Holdings (12/31/16)
| % of Net Assets | |
|---|---|
| Apple Inc. | 3.7% |
| Alphabet Inc. (Class A & Class C) | 3.7% |
| Microsoft Corp. | 3.4% |
| Adams Natural Resources Fund, Inc.* | 2.9% |
| Comcast Corp. (Class A) | 2.6% |
| Wells Fargo & Co. | 2.4% |
| Facebook, Inc. (Class A) | 2.3% |
| Amazon.com, Inc. | 2.2% |
| Exxon Mobil Corp. | 2.1% |
| Boeing Co. | 2.1% |
| Total | 27.4% |
* Non-controlled affiliated closed-end fund
Sector Weightings (12/31/16)
| % of Net Assets | |
|---|---|
| Information Technology | 21.3% |
| Financials | 15.8% |
| Health Care | 13.0% |
| Consumer Discretionary | 11.4% |
| Industrials | 10.0% |
| Consumer Staples | 8.9% |
| Energy | 8.3% |
| Utilities | 2.9% |
| Real Estate | 2.3% |
| Materials | 2.1% |
| Telecommunication Services | 1.9% |
During the fourth quarter we initiated new positions in American Express, Amgen, Anadarko Petroleum, AvalonBay Communities, Broadcom, CenterPoint Energy, Priceline Group, and Waters Corp.
For further information, please contact:
Nancy J. Floyd Prue, CFA
Director of Shareholder Communications
410.752.5900 or 800.638.2479
email