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Adams Natural Resources Fund Reports Nine Month Results
ANNUALIZED COMPARATIVE RETURNS (9/30/2025) | ||||
1 Year | 3 Year | 5 Year | 10 Year | |
Adams Natural Resources Fund (NAV) | 3.4% | 12.4% | 25.2% | 8.8% |
Adams Natural Resources Fund (market price) | 4.2% | 13.3% | 26.3% | 9.3% |
S&P 500 Energy Sector | 4.4% | 11.1% | 29.6% | 8.2% |
S&P 500 Materials Sector | -4.3% | 12.3% | 9.5% | 10.8% |
NET ASSET VALUE ANNOUNCED |
The Fund's net asset value at September 30, 2025, compared with the year earlier, was:
9/30/2025 | 9/30/2024 | |
Net assets | $662,649,222 | $681,420,546 |
Shares outstanding | 27,205,847 | 25,728,942 |
Net asset value per share | $24.36 | $26.48 |
TEN LARGEST EQUITY PORTFOLIO HOLDINGS (9/30/2025) | |
% of Net Assets | |
Exxon Mobil Corporation | 22.1% |
Chevron Corporation | 14.8% |
ConocoPhilips | 6.4% |
Linde plc | 4.4% |
Williams Companies, Inc. | 3.3% |
Phillips 66 | 3.3% |
Marathon Petroleum Corporation | 3.3% |
Kinder Morgan, Inc. | 3.0% |
Baker Hughes Company | 2.8% |
EOG Resources, Inc. | 2.4% |
Total | 65.8% |
INDUSTRY WEIGHTINGS (9/30/2025) | |
% of Net Assets | |
Energy | |
Integrated Oil & Gas | 39.3% |
Exploration & Production | 16.0% |
Storage & Transportation | 9.9% |
Refining & Marketing | 8.8% |
Equipment & Services | 5.6% |
Materials | |
Chemicals | 12.1% |
Metals & Mining | 4.2% |
Containers & Packaging | 1.8% |
Construction Materials | 1.8% |
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 90 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds
For further information: or 800.638.2479

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