Adams Diversified Equity Fund : Announces 2016 Performance and January 26 Conference Call
January 13, 2017 at 02:55 am IST
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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
Adams Diversified Equity Fund published this content on 12 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 January 2017 21:25:08 UTC.
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Adams Diversified Equity Fund, Inc. (the Fund) is a diversified, closed-end investment company. The Fund is an internally managed fund whose investment objectives are preservation of capital, the attainment of reasonable income from investments, and an opportunity for capital appreciation. The Fund is an internally managed large-cap United States equity fund. The Fund invests at least 80% of its assets in highly liquid Standard and Poor's 500 (S&P 500) stocks. The Fund may invest up to 20% of assets in commodities (other than physical commodities), including swaps. The Fund invests in various sectors, such as communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, real estate, utilities, and information technology (IT).
ADAMS DIVERSIFIED EQUITY FUND, INC. 
