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21.01.2021 22:14:00
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Adams Natural Resources Fund Announces 2020 Performance
BALTIMORE, Jan. 21, 2021 /PRNewswire/ -- Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund's investment returns for 2020. "The Energy market was exceptionally challenging in 2020. Our Fund benefited from its exposure to the Materials sector, offsetting some of the weakness in Energy," said Mark Stoeckle, CEO of Adams Funds.
The total return on the Fund's net asset value for the year was -22.2%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were -33.7% and 20.7%, respectively. The total return on the Fund's market price for the same period was -26.6%.
The Fund paid $0.73 per share in income dividends and realized capital gain distributions to shareholders in 2020, producing an annual distribution rate of 6.1%, 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 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 Natural Resources Fund (NAV) | -22.2% | -10.3% | -1.9% |
Adams Natural Resources Fund (market price) | -26.6% | -11.3% | -2.6% |
S&P 500 Energy Sector | -33.7% | -15.3% | -5.2% |
S&P 500 Materials Sector | 20.7% | 8.7% | 13.1% |
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 | $331,941,768 | $561,468,757 |
Shares outstanding | 24,121,714 | 29,874,578 |
Net asset value per share | $13.76 | $18.79 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/20)
% of Net Assets | |
Exxon Mobil Corporation | 16.9% |
Chevron Corporation | 14.1% |
Linde plc | 5.2% |
ConocoPhillips | 4.6% |
Schlumberger NV | 3.3% |
EOG Resources, Inc. | 3.2% |
Phillips 66 | 3.0% |
Sherwin-Williams Company | 2.7% |
Marathon Petroleum Corporation | 2.6% |
DuPont de Nemours, Inc. | 2.3% |
Total | 57.9% |
SECTOR WEIGHTINGS (12/31/20)
% of Net Assets | |
Energy | |
Integrated Oil & Gas | 31.3% |
Exploration & Production | 16.6% |
Refining & Marketing | 8.2% |
Equipment & Services | 7.6% |
Storage & Transportation | 5.8% |
Materials | |
Chemicals | 19.3% |
Metals & Mining | 4.4% |
Construction Materials | 3.5% |
Containers & Packaging | 2.8% |
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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 Natural Resources Fund, Inc.
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