A. D. Beadell Investment Counsel, Inc.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 9, 2024), A. D. Beadell Investment Counsel, Inc. reported 85 stock positions worth $125.2 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 4.9% of the portfolio, followed by Primoris Services (PRIM, 4.1%) and Enterprise Products Partners (EPD, 3.7%). Compared with Q2 2024, it opened 5 new positions, sold out of 4, added to 11 and reduced 37. The biggest buy was AES (AES, shares +80%) and the biggest sale an exit from Cisco Systems (CSCO).

Most Recent 13F
Q2 2026
Location
MEQUON, WI
CIK
0001569102
Portfolio Value
$125.2M (Q3 2024)
SEC Filing
0001569102-24-000004 ↗ filed Oct 9, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $114.5M Q1 2024 Q2 2024: $119.6M Q2 2024 Q3 2024: $125.2M $125.2M Q3 2024 Q4 2024: $123.4M Q4 2024 Q1 2025: $119.9M Q1 2025 Q2 2025: $130.7M Q2 2025 Q3 2025: $146.6M Q3 2025 Q4 2025: $153.7M Q4 2025 Q1 2026: $156.3M Q1 2026 Q2 2026: $155.8M Q2 2026

Holdings 85 stocks · $125.2M
TSM Taiwan Semiconductor-SP ADR 4.93% 35,532 $6.2M Reduce -5.7%
PRIM Primoris Services Corp. 4.12% 88,830 $5.2M Reduce -20.9%
EPD Enterprise Products Partners 3.72% 159,810 $4.7M Reduce -0.2%
VanEck Gold Miners ETF 3.50% 109,984 $4.4M No change
APD Air Products & Chemicals Inc. 3.08% 12,957 $3.9M Reduce -3.8%
PAGP Plains GP Hldgs L P 3.07% 207,425 $3.8M Reduce -0.0%
MRK Merck & Co. Inc. 2.95% 32,556 $3.7M Reduce -0.5%
KMI Kinder Morgan Inc. 2.93% 166,180 $3.7M No change
PBA Pembina Pipeline Corp. 2.77% 84,217 $3.5M Reduce -1.5%
AES AES Corp. 2.71% 168,850 $3.4M Add +80.4%
ABT Abbott Laboratories 2.33% 25,550 $2.9M No change
AMZN Amazon.com Inc. 2.32% 15,570 $2.9M Reduce -4.0%
RTX RTX Corp. 2.24% 23,185 $2.8M No change
AAPL Apple Inc. 2.24% 12,050 $2.8M Reduce -3.5%
MDT Medtronic PLC 2.19% 30,485 $2.7M Reduce -5.9%
BDX Becton Dickinson and Co. 2.16% 11,204 $2.7M No change
MSFT Microsoft Corp. 2.11% 6,140 $2.6M Reduce -3.8%
XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP 2.11% 95,636 $2.6M Reduce -0.6%
GOOGL Alphabet Inc. Class A 2.04% 15,430 $2.6M Reduce -5.3%
CB Chubb Ltd. 1.80% 7,825 $2.3M Reduce -5.0%
PHYS Sprott Physical Gold Trust 1.76% 108,099 $2.2M Reduce -4.2%
PEP Pepsico Inc. 1.73% 12,725 $2.2M Reduce -0.3%
SGOL Abrdn Physical Gold Shares 1.67% 83,300 $2.1M No change
VCSH Vanguard S/T Corp. Bond ETF 1.67% 26,289 $2.1M Add +0.7%
J Jacobs Solutions Inc. 1.63% 15,580 $2.0M Reduce -0.3%
ENB Enbridge Inc. 1.60% 49,243 $2.0M Reduce -0.1%
JPM JPMorgan Chase & Co. 1.48% 8,768 $1.8M Reduce -9.7%
MS Morgan Stanley 1.43% 17,146 $1.8M No change
PWR Quanta Services Inc. 1.38% 5,815 $1.7M No change
IGSB iShares 1-5Y Inv Grade Corp. 1.25% 29,650 $1.6M Add +0.3%
ETR Entergy Corp. 1.23% 11,695 $1.5M New
SYK Stryker Corp. 1.23% 4,250 $1.5M No change
B Barrick Gold Corp. 1.18% 73,985 $1.5M Reduce -5.9%
KBR KBR Inc. 1.16% 22,325 $1.5M Add +54.4%
AY Atlantica Sustainable Infras 1.09% 62,003 $1.4M Reduce -27.4%
PFE Pfizer Inc. 1.01% 43,836 $1.3M Add +56.9%
MDLZ Mondelez International Inc. Class A 0.98% 16,581 $1.2M Reduce -0.1%
XLC SS Comm Select Sector SPDR 0.95% 13,109 $1.2M Reduce -1.3%
ITA iShares U.S. Aerospace & Def 0.92% 7,735 $1.2M No change
NVO Novo-Nordisk A/S-Spons ADR 0.88% 9,225 $1.1M No change
JNJ Johnson & Johnson 0.84% 6,505 $1.1M Reduce -0.8%
UNP Union Pacific Corp. 0.84% 4,259 $1.0M Reduce -7.6%
CEF Sprott Physical Gold & Silver 0.82% 41,745 $1.0M No change
CVX Chevron Corp. 0.79% 6,758 $995K Reduce -5.6%
KO The Coca-Cola Co. 0.79% 13,721 $985K Reduce -10.7%
NOC Northrop Grumman Corp. 0.78% 1,839 $971K Reduce -9.4%
LH Laboratory CRP of Amer Hldgs 0.77% 4,344 $970K No change
GLD SPDR Gold Shares 0.76% 3,927 $954K No change
RGLD Royal Gold Inc. 0.73% 6,510 $913K No change
SYY Sysco Corp. 0.73% 11,647 $909K No change
GTLS Chart Industries Inc. 0.68% 6,880 $854K Reduce -2.7%
HESM Hess Midstream LP Class A 0.67% 23,810 $839K New
AEP American Electric Power 0.56% 6,810 $698K Reduce -0.4%
AEM Agnico Eagle Mines Ltd. 0.51% 7,950 $640K Reduce -1.2%
ECL Ecolab Inc. 0.48% 2,375 $606K No change
SRE Sempra 0.48% 7,210 $602K No change
SHY iShares 1-3 Year Treasury Bo 0.42% 6,405 $532K Add +4.8%
GPK Graphic Packaging Holding Co. 0.41% 17,450 $516K Add +15.0%
AMTM Amentum Holdings Inc. 0.40% 15,580 $502K Reduce -0.3%
AVGO Broadcom Inc. 0.39% 2,853 $492K New
BSV Vanguard Short-Term Bond ETF 0.39% 6,190 $487K Reduce -1.3%
BEPC Brookfield Renewable Cor-A 0.33% 12,550 $409K Add +51.7%
PYPL PayPal Holdings Inc. 0.31% 5,024 $392K New
GRAL Grail Inc. 0.28% 25,518 $351K Add +8.2%
ILMN Illumina Inc. 0.28% 2,655 $346K Reduce -0.8%
NEE Nextera Energy Inc. 0.26% 3,800 $321K No change
MSOS Advisorshares Pure US Cann 0.25% 44,525 $319K Add +88.1%
WMT Walmart Inc. 0.24% 3,750 $302K Reduce -27.3%
GOOG Alphabet Inc. Class C 0.23% 1,750 $292K No change
D Dominion Energy Inc. 0.23% 5,000 $288K No change
XOM Exxon Mobil Corp. 0.22% 2,400 $281K No change
ALERIAN MLP ETF 0.22% 5,925 $279K No change
MRVL Marvell Technology Group Ltd. 0.22% 3,840 $276K Reduce -15.1%
MP MP Materials Corp. 0.20% 14,525 $256K No change
NVDA Nvidia Corp. 0.20% 2,102 $255K No change
WM Waste Management Inc. 0.20% 1,225 $254K No change
PLD Prologis Inc. 0.19% 1,901 $240K No change
KHC The Kraft Heinz Co. 0.19% 6,715 $235K Add +0.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.19% 5,902 $234K No change
ANET Arista Networks Inc. 0.18% 601 $230K No change
XLK SS Technology Select Sector 0.18% 975 $220K No change
VHT Vanguard Health Care ETF 0.17% 760 $214K No change
CL Colgate-Palmolive Co. 0.17% 2,000 $207K Reduce -20.0%
AQN Algonquin Power & Utilities 0.15% 34,200 $186K New
AMBP Ardagh Metal Packaging SA 0.12% 39,750 $149K No change

Portfolio Sells Q2 2024 → Q3 2024
CSCO Cisco Systems Inc. Sold out 0.00% −1.51
QSR Restaurant Brands Intern Sold out 0.00% −1.13
TSN Tyson Foods Inc. Class A Sold out 0.00% −0.66
PRIM Primoris Services Corp. Reduce -20.9% 4.12% −0.56
TSM Taiwan Semiconductor-SP ADR Reduce -5.7% 4.93% −0.55
AY Atlantica Sustainable Infras Reduce -27.4% 1.09% −0.48
GOOGL Alphabet Inc. Class A Reduce -5.3% 2.04% −0.44
MRK Merck & Co. Inc. Reduce -0.5% 2.95% −0.43
AMZN Amazon.com Inc. Reduce -4.0% 2.32% −0.30
MSFT Microsoft Corp. Reduce -3.8% 2.11% −0.27
PAGP Plains GP Hldgs L P Reduce -0.0% 3.07% −0.20
J Jacobs Solutions Inc. Reduce -0.3% 1.63% −0.20
IBM Intl Business Machines Corp. Sold out 0.00% −0.17
GTLS Chart Industries Inc. Reduce -2.7% 0.68% −0.17
JPM JPMorgan Chase & Co. Reduce -9.7% 1.48% −0.17
EPD Enterprise Products Partners Reduce -0.2% 3.72% −0.16
CVX Chevron Corp. Reduce -5.6% 0.79% −0.14
XIFR XPLR Infrastructure LP Reduce -0.6% 2.11% −0.11
WMT Walmart Inc. Reduce -27.3% 0.24% −0.05
MRVL Marvell Technology Group Ltd. Reduce -15.1% 0.22% −0.04
CL Colgate-Palmolive Co. Reduce -20.0% 0.17% −0.04
UNP Union Pacific Corp. Reduce -7.6% 0.84% −0.03
PEP Pepsico Inc. Reduce -0.3% 1.73% −0.03
KO The Coca-Cola Co. Reduce -10.7% 0.79% −0.03
AMTM Amentum Holdings Inc. Reduce -0.3% 0.40% −0.02
BSV Vanguard Short-Term Bond ETF Reduce -1.3% 0.39% −0.01
XLC SS Comm Select Sector SPDR Reduce -1.3% 0.95% −0.00
NOC Northrop Grumman Corp. Reduce -9.4% 0.78% +0.04
JNJ Johnson & Johnson Reduce -0.8% 0.84% +0.04
ILMN Illumina Inc. Reduce -0.8% 0.28% +0.04
AAPL Apple Inc. Reduce -3.5% 2.24% +0.04
CB Chubb Ltd. Reduce -5.0% 1.80% +0.05
PHYS Sprott Physical Gold Trust Reduce -4.2% 1.76% +0.06
AEP American Electric Power Reduce -0.4% 0.56% +0.06
MDT Medtronic PLC Reduce -5.9% 2.19% +0.06
MDLZ Mondelez International Inc. Class A Reduce -0.1% 0.98% +0.07
AEM Agnico Eagle Mines Ltd. Reduce -1.2% 0.51% +0.07
B Barrick Gold Corp. Reduce -5.9% 1.18% +0.08
PBA Pembina Pipeline Corp. Reduce -1.5% 2.77% +0.12
ENB Enbridge Inc. Reduce -0.1% 1.60% +0.13
APD Air Products & Chemicals Inc. Reduce -3.8% 3.08% +0.17

Portfolio Buys Q2 2024 → Q3 2024
AES AES Corp. Add +80.4% 2.71% +1.33
ETR Entergy Corp. New 1.23% +1.23
HESM Hess Midstream LP Class A New 0.67% +0.67
AVGO Broadcom Inc. New 0.39% +0.39
KBR KBR Inc. Add +54.4% 1.16% +0.39
PFE Pfizer Inc. Add +56.9% 1.01% +0.36
PYPL PayPal Holdings Inc. New 0.31% +0.31
AQN Algonquin Power & Utilities New 0.15% +0.15
BEPC Brookfield Renewable Cor-A Add +51.7% 0.33% +0.13
MSOS Advisorshares Pure US Cann Add +88.1% 0.25% +0.11
GPK Graphic Packaging Holding Co. Add +15.0% 0.41% +0.08
KHC The Kraft Heinz Co. Add +0.8% 0.19% +0.01
SHY iShares 1-3 Year Treasury Bo Add +4.8% 0.42% +0.01
VCSH Vanguard S/T Corp. Bond ETF Add +0.7% 1.67% −0.02
IGSB iShares 1-5Y Inv Grade Corp. Add +0.3% 1.25% −0.02
GRAL Grail Inc. Add +8.2% 0.28% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 103$155.8MTSM, VanEck Gold Miners ETF, EPD, PRIM, GOOGL
Q1 2026 99$156.3MPRIM, TSM, VanEck Gold Miners ETF, EPD, KMI
Q4 2025 98$153.7MVanEck Gold Miners ETF, TSM, PRIM, EPD, KMI
Q3 2025 90$146.6MPRIM, TSM, VanEck Gold Miners ETF, EPD, KMI
Q2 2025 88$130.7MTSM, PRIM, VanEck Gold Miners ETF, EPD, KMI
Q1 2025 84$119.9MTSM, EPD, VanEck Gold Miners ETF, PRIM, KMI
Q4 2024 88$123.4MTSM, PRIM, EPD, KMI, APD
Q3 2024 85$125.2MTSM, PRIM, EPD, VanEck Gold Miners ETF, APD
Q2 2024 83$119.6MTSM, PRIM, EPD, MRK, PAGP
Q1 2024 74$114.5MTSM, PRIM, EPD, MRK, PAGP