At A Glance and Top Ten Holdings

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Overview

Adams Diversified Equity Fund (NYSE:ADX) is a publicly-traded diversified equity fund. The Fund uses a conservative investment philosophy and the portfolio is managed with careful attention to risk management.  Investments are made with a focus on protecting your original investment and generating dividends and capital gains that can be used as a source of income or reinvested to increase your holdings in the Fund.

The Fund has committed to distribute annually to shareholders at least 6% of the Fund's trailing 12-month average month-end market price.  This means Adams Diversified Equity Fund shareholders can count on receiving distributions at a 6% annual distribution rate, or more, for the foreseeable future in both up and down markets.  Adams Diversified Equity Fund has made distributions every year for over 75 years.  For more information, please click on annual minimum 6% distribution rate.

One of the oldest companies continuously  listed on the New York Stock Exchange, Adams Diversified Equity Fund has been structured as a closed-end fund since 1929.

The Fund

  • A closed-end equity fund
  • Internally-managed
  • Annual distribution rate of at least 6%

Stock Data (12/31/14)

NYSE Symbol

ADX 

Market Price

$13.68

52-Week Range

$12.14-$14.90

NAV Per Share

$15.87

Discount

13.8%

Shares Outstanding

96,286,656

Summary Financial Information

2014

2013

At December 31:    
Net asset value per share

$15.87

$15.09

Total net assets

$1,527,772,661

$1,421,550,920

Unrealized appreciation on investments

$469,715,852

$393,843,628

     
For the twelve months ended December 31:    
Net investment income

$19,120,191

$18,656,769

Net realized gain

$93,558,308

$57,371,366

Cost of shares repurchased

$13,744,866

$11,659,522

Shares repurchased

1,011,600

948,339

Total return on market price

13.7%

31.8%

Total return on net asset value

14.3%

29.7%

     
Key ratios:    
Net investment income to average net assets

1.29%

1.44%*

Expenses to average net assets

0.58%

0.69%*

Portfolio turnover

26.6%

55.9%

Net cash & short-term investments to net assets

0.9%

0.6%

* The ratios of net investment income and expenses to average net assets were 1.50% and 0.63%, respectively, after adjusting for non-recurring pension expenses.

Ten Largest Equity Portfolio Holdings (12/31/14)

 

Market Value

% of Net Assets

Apple Inc.

$72,089,178

4.7% 

Adams Natural Resources Fund *

52,132,692

3.4 

Wells Fargo & Co.

39,415,580

2.6 

Google Inc. (Class A & Class C)

37,525,630

2.5 

Walt Disney Co.
35,566,144

2.3 

Gilead Sciences, Inc.

35,432,334

2.3 

Lowe's Companies, Inc.

33,712,000

2.2 

Citigroup Inc.

33,385,870

2.2 

Union Pacific Corp.

33,118,140

2.2 

CVS Health Corp.

30,241,340

2.0 

Total

$402,618,908

26.4%

* Non-controlled affiliated closed-end fund.

Five Year Distribution History

Income
Dividends
per Share
 
 Short-Term
Capital Gains
per Share
Long-Term
Capital Gains
per Share
Total
Distributions
per Share
 
 Annual
Distribution
Rate
*
2010 $0.14 $0.09 $0.28 $0.51

5.1%

2011 0.15 0.07 0.43 0.65

6.1%

2012 0.18 0.10 0.39 0.67

6.3%

2013

0.22

0.17

0.45

0.84

7.1%

2014

0.20

0.06

0.92

1.18

8.8%

* The annual distribution rate is the total dividends and capital gain distributions per share divided by the average month-end market price of the Fund's Common Stock.  For the years prior to 2011, the average month-end market price is determined for the calendar year.  For 2011 and later, the average month-end market price is determined for the twelve months ended October 31, which is consistent with the calculation used for the annual 6% minimum distribution rate commitment adopted in September 2011.

At A Glance and Top Ten Holdings

Stock and Distribution





Nav & Stock Price Per Share
Net Asset Value: $16.28
Closing Price:

$14.04

Discount:

-13.8%

This is the closing price from the NYSE on 04/17/2015

annual DISTRIBUTION Rate
2014 8.8%

*The annual distribution rate is the total dividends and capital gain distributions divided by the average month-end market price of the Fund's Common Stock for the twelve months ended October 31.

As of September 8, 2011, the Fund committed to an annual distribution rate of at least 6%.