Adams Natural Resources Fund reported 10.2% return on net asset value, outperforming benchmark.
From GlobeNewswire: 2024-10-17 16:05:00
Adams Natural Resources Fund, Inc. (NYSE: PEO) reported a total return of 10.2% on net asset value for the nine months ending September 30th, outperforming the benchmark’s 9.5%. Market price total return for the same period was 16.3%. The Fund’s net asset value for the 12 months was 6.2%, with a market price return of 9.2%.
The Third Quarter Report to Shareholders for Adams Natural Resources Fund is anticipated for release around October 23, 2024. Annualized comparative returns for 1, 3, 5, and 10-year periods as of 9/30/2024 were presented for the Fund and benchmark indices: S&P 500 Energy Sector and S&P 500 Materials Sector.
The Fund’s net asset value as of September 30, 2024, reached $681,420,546, showing a slight increase from the previous year. The top ten equity holdings as of 9/30/2024 included Exxon Mobil Corporation, Chevron Corporation, ConocoPhillips, Linde plc, EOG Resources, Inc., Marathon Petroleum Corporation, Williams Companies, Inc., Hess Corporation, ONEOK, Inc., and Valero Energy Corporation.
Adams Funds, established in 1929, manages two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds aim to provide consistent dividends with a target annual distribution rate of 8% of NAV evenly distributed each quarter. Shares can be purchased through the transfer agent or a broker. For more information, visit adamsfunds.com.
Read more at GlobeNewswire:: Adams Natural Resources Fund Reports Nine Month Results