Adams Express Company Updates Top Ten Holdings and Sector Weightings
BALTIMORE, MARYLAND -- JUNE 19, 2008 - The Adams Express Company (NYSE: ADX) provides an update on summary financial information, returns on net asset value, Top 10 portfolio holdings, and sector weightings as of May 31, 2008:
SUMMARY FINANCIAL INFORMATION
Year-to-date, the Company's unrealized appreciation on assets is $315,454,544, net investment income is $9,373,151, total realized gain is $28,225,770, and total return, after adjusting for income dividends as well as capital gains distributions paid, was -3.8% on net asset value and -8.0% on market value. Comparable figures for the Standard & Poor's 500 Index and the Lipper Large Cap Core Mutual Fund Average were -3.8% and -4.0%, respectively. The Company had 86,787,598 shares outstanding.
TOP TEN HOLDINGS
Market Value |
% of Net Assets |
|
| Petroleum & Resources Corp.* |
$93,112,837 |
7.2% |
| General Electric Co. |
42,639,360 |
3.3% |
| Schlumberger Ltd. |
38,429,400 |
2.9% |
| Microsoft Corp. |
33,417,600 |
2.6% |
| ConocoPhillips |
27,464,500 |
2.1% |
| Oracle Corp. |
25,124,000 |
1.9% |
| Bank of America Corp. |
24,827,300 |
1.9% |
| Pepsi Co. |
24,588,000 |
1.9% |
| Air Products and Chemicals, Inc. |
23,441,600 |
1.8% |
| Cisco Systems |
22,712,000 |
1.7% |
* Non-controlled affiliate $355,756,597 27.3%
SECTOR WEIGHTINGS
The portfolio weightings for the major sectors that the Fund invests in were:
|
Consumer |
17.5% |
|
Energy |
15.8% |
|
Industrials |
13.9% |
|
Information Technology |
11.4% |
|
Health Care |
11.0% |
|
Financial |
10.9% |
|
Short-Term Investments |
5.7% |
|
Materials |
5.2% |
|
Utilities |
4.3% |
|
Telecom |
1.5% |
The Adams Express Company is a Baltimore-based closed-end investment company. It is traded on the New York Stock Exchange under the symbol ADX.
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For further information, please contact:
Joseph M. Truta, President
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary
(410) 752-5900 or (800) 638-2479
E-mail: contact@adamsexpress.com
Website: www.adamsexpress.com
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