ABOUT US OUR FUNDS NEWS & INSIGHTS Adams Natural Resources Fund Pricing as of 11/24/21 $19.46 NAV (NASDAQ: XPEOX) $16.85 Market Price (NYSE: PEO) -13.4% Discount At a Glance Performance Portfolio Composition Distributions Reports At a Glance Adams Natural Resources Funds seeks to deliver superior returns over time by capitalizing on the long-term demand for energy and materials. The Fund invests in energy and natural resources stocks and seeks to generate returns that exceed its benchmark as well as consistently distribute dividend income and capital gains to shareholders. FUND FACT SHEET DOWNLOAD PDF > AS OF 09/30/21 1929 Inception Date 80+ Years of Distributions 6% Min Annual Distribution Rate1 6.1% 2020 Distribution Rate1 90% Domestic $434.8M Net Assets $46.9B Weighted Median Market Cap 55 Number of Holdings PEO0.9% Ind Avg1.29%2 Expense Ratio 1 The annual distribution rate is the total income dividends and non-income distributions divided by the average month-end market price of the Fund’s Common Stock for the twelve months ended October 31. 2 Simple average of all equity sector mutual funds (Source: Investment Company Institute, year ended 2020). Performance Back to top INVESTMENT RETURNS - 10/31/21 Total Return on Net Asset Value YTD 1YR 3YR* 5YR* 10YR* 47.1% 87.8% 4.9% 3.7% 2.6% Total Return on Market Price YTD 1YR 3YR* 5YR* 10YR* 52.6% 91.3% 6.0% 4.1% 2.5% *Annualized Total returns are presented before taxes and reflect reinvestment of all distributions at reinvestment price. Investment returns, market price, and net asset value will fluctuate. Shares, if sold, may be worth more or less than their original cost. Presented performance reflects past performance and is no guarantee of future investment results. ILLUSTRATION OF AN ASSUMED 20 YEAR INVESTMENT OF $50,000 Assuming all investment income and capital gains distributions are taken in additional shares.* Market Price of Original Investment ($) Adams Natural Resources Fund 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 20k 40k 60k 80k 100k 120k 140k *Investment income, dividends, and capital gains distributions are taken in additional shares. This chart covers the years 1997–2017. Fees for the reinvestment of interim dividends are assumed as 2% of the amount reinvested (maximum of $2.50) and commissions of $0.05 per share. There is no charge for reinvestment of year-end distributions. No adjustment has been made for any income taxes payable by shareholders on income dividends,capital gains distributions, or the sale of any shares. These results should not be considered representative of the dividend income or capital gain or loss which may be realized in the future. Portfolio Composition - 09/30/21 Back to top TEN LARGEST EQUITY PORTFOLIO HOLDINGS Market Value Percent of Net Assets Exxon Mobil Corporation $74,914,917 17.2% Chevron Corporation $56,932,827 13.1% ConocoPhillips $32,714,341 7.5% EOG Resources, Inc. $18,389,857 4.2% Linde plc $17,456,110 4% Schlumberger N.V. $16,776,240 3.9% Marathon Petroleum Corporation $16,564,153 3.8% Valero Energy Corporation $12,018,071 2.8% ONEOK, Inc. $10,791,939 2.5% Sherwin-Williams Company $10,461,902 2.4% Total $267,020,357 61.4% SECTOR WEIGHTINGS Integrated Oil & … Exploration & Production Chemicals Refining & Marketing Storage & Transportation Equipment & Services Metals & Mining Construction Materials Containers & Packaging 0 5 10 15 20 25 30 35 Distributions Back to top FIVE YEAR DISTRIBUTION HISTORY Year Income Dividends per Share ($) Short-Term Capital Gains per Share ($) Long-Term Capital Gains per Share ($) Return of Capital per share ($) Total Distribution per Share ($) Annual Distribution Rate* (%) 2016 0.41 0.00 0.73 0.00 1.14 6.1 2017 0.46 0.00 0.72 0.00 1.18 6.1 2018 0.45 0.00 0.40 0.32 1.17 6.0 2019 0.78 0.00 0.32 0.00 1.10 6.9 2020 0.47 0.00 0.26 0.00 0.73 6.1 2021 QUARTERLY DISTRIBUTIONS Year Q1 Q2 Q3 Q4 2021 0.10 0.10 0.10 DISCLOSURE REPORTS Section 19(a) of the Investment Company Act 02/26/2021 PRIOR DISTRIBUTION INFORMATION Year-End Distribution Press Release Important Notice *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 twelve months ended October 31. Reports Back to top Financial Reports 09/30/2021 PRIOR Tax Information 12/31/2020 PRIOR Form 8937 12/31/2018 Quarterly Changes in Portfolio Securities 09/30/2021 PRIOR Proxy Statements 02/23/2021 PRIOR PROXY VOTING Proxy Voting Record: Form N-PX for the period ended June 30, 2021 Proxy Voting Guidelines SEC FILINGS SEC Edgar database for all fund filings Section 16 (Beneficial Ownership Report) filings Sign up for news about Adams Funds ADXPEOALL This site is protected by reCAPTCHA and the Google. Privacy Policy and Terms of Service apply. Follow us on LinkedIn Legal Notice and Privacy Policy © Copyright 2021 Adams Funds. All rights reserved. Adams Funds™, Adams Express™, and Trusted by investors for generations® are registered trademarks of Adams Diversified Equity Fund, Inc. and Adams Natural Resources Fund, Inc.