Welcome!

Cognitive Computing Authors: Liz McMillan, ManageEngine IT Matters, Derek Weeks, Pat Romanski, Carmen Gonzalez

News Feed Item

Adams Express Announces 2012 Performance: NAV Up 14.7%, Market Value Up 16.9%

BALTIMORE, Jan. 14, 2013 /PRNewswire/ -- The Adams Express Company (NYSE: ADX) announces the Fund's investment returns for 2012.  

2012 INVESTMENT RETURNS

On net asset value, the total return on Adams Express was 14.7%, with dividends and capital gains reinvested, for the twelve months ended December 31, 2012. Comparable figures for the Lipper Large-Cap Core Mutual Funds Average ("Lipper Peer Group") and the S&P 500 Composite Stock Index ("S&P 500") were 15.0% and 16.0%, respectively.

On market value, the total return on Adams Express was 16.9% for 2012, significantly outperforming both the Lipper Peer Group and the S&P 500.

The Fund paid $0.67 per share in income dividends and realized capital gains to shareholders in 2012, producing an annual distribution rate of 6.3%, exceeding the 6% minimum annual distribution rate commitment that the Fund made in 2011. Details regarding the 6% minimum annual distribution rate can be found at www.adamsexpress.com.

NET ASSET VALUE ANNOUNCED

The net assets, shares outstanding, and net asset value per share of Adams Express at the end of 2012 compared with the end of 2011 were:     


12/31/12

 12/31/11

Net assets                  

$1,155,997,037

$1,050,733,678

Shares outstanding           

93,029,724

91,073,899

Net asset value per share      

$              12.43

$              11.54

 

SECURITIES TRANSACTIONS DURING THE FOURTH QUARTER

During the fourth quarter, Adams Express added nine new names to its investment list with the purchases of Bed Bath & Beyond, Inc., Calpine Corp., Covidien plc, Hologic, Inc., LyondellBasell Industries N.V. (Class A), MasterCard, Inc., MEDNAX, Inc., and WellCare Health Plans, Inc., and the receipt of shares of Eaton Corp. plc via merger. The Fund added to its holdings in Apple, Catamaran, Coach, Digital Realty Trust, Fifth Third Bancorp, General Mills, Google, HCP, IDACORP, International Business Machines, Intuitive Surgical, Kansas City Southern, Kinder Morgan, MetLife, Philip Morris International, PNC Financial, QUALCOMM, and UnitedHealth Group.

Seven holdings were eliminated from the investment list with the sales of ADTRAN, Inc., Air Products & Chemicals, Inc., Amerigroup Corp., Life Technologies Corp., MDU Resources Group, Inc., and Prudential Financial, Inc., and the merger of Eaton Corp. The Fund reduced its holdings in Bunge, Cisco, Emerson Electric, FedEx, Gilead Sciences, McDonald's, Medtronic, NetApp, Norfolk Southern, Pfizer, Procter & Gamble, Spectra Energy, and Wells Fargo.

OTHER SUMMARY FINANCIAL INFORMATION


12/31/12

12/31/11

Unrealized appreciation   

$143,061,370

$62,511,196

Net investment income  

$  17,547,510

$13,858,578

Net realized gain   

$  47,997,411

$45,998,641




Key Ratios

Net investment income to average net assets 

1.54%

1.25%

Expense ratio (to average net assets)   

0.65%

0.55%

Portfolio turnover   

27.4%

21.5%

Net cash & short-term investments to net assets 

0.2%

4.5%

 

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/12)


% of Net Assets

Petroleum & Resources Corp.*  

4.5

Apple  

4.3

JPMorgan Chase  

2.3

QUALCOMM   

2.2

Lowe's   

1.8

International Business Machines 

1.7

Wells Fargo  

1.7

Microsoft  

1.6

AT&T   

1.6

Google  

1.6

     Total  

23.3%

*Non-controlled affiliate

                       

SECTOR WEIGHTINGS (12/31/12)


% of Net Assets

Consumer Discretionary  

10.9

Consumer Staples  

10.0

Energy  

10.4

Financials

14.9

Health Care  

13.0

Industrials 

10.8

Information Technology 

19.3

Materials 

3.9

Telecom Services 

4.0

Utilities  

2.6

Short-Term Investments  

0.0

ANNUALIZED ONE, THREE AND FIVE YEAR COMPARATIVE RETURNS (12/31/12)    


1 Year

3 Year

5 Year

Adams Express (NAV)   

14.7%

7.4%

1.2%

Lipper Peer Group  

15.0%

8.9%

0.7%

S&P 500  

16.0%

10.9%

1.7%

 

The Adams Express Company is a diversified equity fund based in Baltimore. Its stock trades on the New York Stock Exchange under the ticker symbol ADX.

For further information please contact:
Lawrence L. Hooper, Jr., Vice President, General Counsel and Secretary
410-752-5900 or 800-638-2479
E-mail: [email protected]
Website: www.adamsexpress.com  

For your convenience, all press releases are posted to our website.  If you would like to receive future press releases by fax or e-mail, please contact us.

 

SOURCE The Adams Express Company

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...