Sec Form 5 Filing - ARZAC ENRIQUE R @ ADAMS DIVERSIFIED EQUITY FUND, INC. - 2018-12-31

FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ARZAC ENRIQUE R 2. Issuer Name and Ticker or Trading Symbol ADAMS DIVERSIFIED EQUITY FUND, INC. [ ADX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 500 EAST PRATT STREET, SUITE 1300 3. Date of Earliest Transaction (MM/DD/YY) 12/31/2018 (Street) BALTIMORE, MD21202 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/31/2018 A V 4,288.93 ( 1 ) A $ 0 56,866.523 D Common Stock 12/31/2018 J V 434.829 ( 2 ) A $ 0 57,301.352 I Trust ( 3 ) Common Stock 12/31/2018 J V 0.72 ( 4 ) D $ 0 57,300.632 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ARZAC ENRIQUE R 500 EAST PRATT STREET, SUITE 1300 BALTIMORE, MD21202 X Signatures Gail L. Valenti as Attorney-in-Fact for Enrique R. Arzac 02/11/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Of these shares, 3,569.930 shares accrued as dividend equivalents on deferred stock units (shares received in lieu of director retainer fees). An additional 719 shares accrued as dividend equivalents on 750 restricted stock units, which were granted in 2006 and deferred until 12/31/2018. The Issuer's stock traded in a range of $11.84 - $16.80 during 2018. ( 2 )These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $11.84 - $16.80 during 2018. ( 3 )By the Enrique R. Arzac TTEE The Enrique R. Arzac TR UA DTD 12/28/2012 Trust ( 4 )This fractional share was issued as part of DSU's (granted in lieu of a 2006 deferred cash retainer) & DE shares earned. The fractional share was surrendered as non-transferrable to a registered account.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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