A. D. Beadell Investment Counsel, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 11, 2025), A. D. Beadell Investment Counsel, Inc. reported 84 stock positions worth $119.9 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 4.4% of the portfolio, followed by Enterprise Products Partners (EPD, 4.4%) and VanEck Gold Miners ETF (4.0%). Compared with Q4 2024, it opened 4 new positions, sold out of 8, added to 23 and reduced 43. The biggest buy was Brookfield Renewable Cor-A (BEPC, shares +117%) and the biggest sale AES (AES, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- MEQUON, WI
- CIK
- 0001569102
- Portfolio Value
- $119.9M (Q1 2025)
- SEC Filing
- 0001569102-25-000002 ↗ filed Apr 11, 2025
Holdings Value
Holdings 84 stocks · $119.9M
| TSM Taiwan Semiconductor-SP ADR | 4.42% | 31,948 | $5.3M | Reduce -5.3% |
| EPD Enterprise Products Partners | 4.38% | 153,910 | $5.3M | Reduce -4.0% |
| VanEck Gold Miners ETF | 4.02% | 104,750 | $4.8M | Reduce -4.6% |
| PRIM Primoris Services Corp. | 3.78% | 78,890 | $4.5M | Add +0.1% |
| KMI Kinder Morgan Inc. | 3.60% | 151,480 | $4.3M | Reduce -0.5% |
| PAGP Plains GP Hldgs L P | 3.47% | 194,765 | $4.2M | Reduce -2.0% |
| APD Air Products & Chemicals Inc. | 3.05% | 12,407 | $3.7M | Reduce -3.7% |
| PBA Pembina Pipeline Corp. | 2.80% | 83,755 | $3.4M | Reduce -2.7% |
| ABT Abbott Laboratories | 2.63% | 23,805 | $3.2M | Reduce -3.9% |
| AMZN Amazon.com Inc. | 2.37% | 14,925 | $2.8M | Reduce -2.3% |
| RTX RTX Corp. | 2.36% | 21,380 | $2.8M | Reduce -0.0% |
| MRK Merck & Co. Inc. | 2.31% | 30,837 | $2.8M | Reduce -2.4% |
| BEPC Brookfield Renewable Cor-A | 2.24% | 96,255 | $2.7M | Add +117.5% |
| AAPL Apple Inc. | 2.17% | 11,736 | $2.6M | Reduce -1.8% |
| MDT Medtronic PLC | 2.17% | 28,995 | $2.6M | Reduce -3.3% |
| BDX Becton Dickinson and Co. | 2.14% | 11,204 | $2.6M | No change |
| PHYS Sprott Physical Gold Trust | 2.05% | 102,199 | $2.5M | Reduce -5.5% |
| GOOGL Alphabet Inc. Class A | 1.97% | 15,310 | $2.4M | Reduce -0.8% |
| SGOL Abrdn Physical Gold Shares | 1.94% | 78,100 | $2.3M | Reduce -6.3% |
| CB Chubb Ltd. | 1.90% | 7,525 | $2.3M | Reduce -3.8% |
| MSFT Microsoft Corp. | 1.79% | 5,728 | $2.1M | Reduce -6.7% |
| ENB Enbridge Inc. | 1.63% | 44,142 | $2.0M | Reduce -4.1% |
| J Jacobs Solutions Inc. | 1.57% | 15,585 | $1.9M | Add +5.4% |
| SRE Sempra | 1.57% | 26,370 | $1.9M | Add +289.2% |
| MS Morgan Stanley | 1.50% | 15,416 | $1.8M | Reduce -4.7% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.42% | 21,614 | $1.7M | Reduce -7.5% |
| AVA Avista Corp. | 1.42% | 40,515 | $1.7M | Add +10.7% |
| PEP Pepsico Inc. | 1.38% | 11,026 | $1.7M | Reduce -12.7% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.22% | 28,000 | $1.5M | Reduce -6.3% |
| B Barrick Gold Corp. | 1.21% | 74,445 | $1.4M | Add +0.1% |
| ETR Entergy Corp. | 1.19% | 16,630 | $1.4M | Reduce -6.2% |
| SYK Stryker Corp. | 1.19% | 3,820 | $1.4M | Reduce -10.1% |
| PFE Pfizer Inc. | 1.06% | 50,161 | $1.3M | Add +6.3% |
| XLC SS Comm Select Sector SPDR | 1.05% | 13,029 | $1.3M | Reduce -0.0% |
| HESM Hess Midstream LP Class A | 1.04% | 29,460 | $1.2M | No change |
| PWR Quanta Services Inc. | 1.03% | 4,856 | $1.2M | Reduce -8.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.02% | 17,585 | $1.2M | Add +35.1% |
| CEF Sprott Physical Gold & Silver | 0.99% | 41,745 | $1.2M | No change |
| RGLD Royal Gold Inc. | 0.98% | 7,170 | $1.2M | Add +10.1% |
| CVX Chevron Corp. | 0.97% | 6,919 | $1.2M | Add +2.4% |
| AES AES Corp. | 0.88% | 84,875 | $1.1M | Reduce -56.7% |
| MDLZ Mondelez International Inc. Class A | 0.87% | 15,381 | $1.0M | Reduce -7.2% |
| AZN Astrazeneca PLC-Spons ADR | 0.86% | 13,960 | $1.0M | Add +4.3% |
| LH Laboratory CRP of Amer Hldgs filed as LABCORP HLDGS INC | 0.84% | 4,344 | $1.0M | No change |
| GLD SPDR Gold Shares | 0.84% | 3,512 | $1.0M | Reduce -0.7% |
| UNP Union Pacific Corp. | 0.83% | 4,208 | $994K | Add +0.2% |
| GTLS Chart Industries Inc. | 0.80% | 6,675 | $963K | Add +4.0% |
| JNJ Johnson & Johnson | 0.80% | 5,805 | $962K | Reduce -10.8% |
| KO The Coca-Cola Co. | 0.76% | 12,696 | $909K | Reduce -7.5% |
| NOC Northrop Grumman Corp. | 0.73% | 1,715 | $878K | Reduce -6.7% |
| JPM JPMorgan Chase & Co. | 0.68% | 3,305 | $810K | Reduce -10.4% |
| SYY Sysco Corp. | 0.67% | 10,647 | $798K | Reduce -8.6% |
| AEM Agnico Eagle Mines Ltd. | 0.64% | 7,040 | $763K | Reduce -8.0% |
| XIFR XPLR Infrastructure LP | 0.63% | 79,226 | $752K | Reduce -14.2% |
| AEP American Electric Power | 0.62% | 6,810 | $744K | No change |
| ECL Ecolab Inc. | 0.50% | 2,375 | $602K | No change |
| AVGO Broadcom Inc. | 0.42% | 2,978 | $498K | Add +5.5% |
| BSV Vanguard Short-Term Bond ETF | 0.42% | 6,364 | $498K | Add +1.6% |
| SHY iShares 1-3 Year Treasury Bo | 0.38% | 5,526 | $457K | Add +2.4% |
| GPK Graphic Packaging Holding Co. | 0.38% | 17,450 | $453K | No change |
| ALERIAN MLP ETF | 0.36% | 8,350 | $433K | Add +7.7% |
| JAAA Janus Henderson Aaa Clo ETF | 0.36% | 8,515 | $431K | Add +18.5% |
| GRAL Grail Inc. | 0.33% | 15,681 | $400K | Reduce -35.0% |
| D Dominion Energy Inc. | 0.33% | 7,000 | $392K | No change |
| PYPL PayPal Holdings Inc. | 0.32% | 5,884 | $383K | Add +11.9% |
| MP MP Materials Corp. | 0.30% | 14,525 | $354K | No change |
| BTI British American Tob-SP ADR | 0.29% | 8,285 | $342K | Add +0.4% |
| PM Philip Morris International | 0.27% | 2,036 | $323K | New |
| NEE Nextera Energy Inc. | 0.23% | 3,878 | $274K | Add +2.0% |
| GOOG Alphabet Inc. Class C | 0.23% | 1,750 | $273K | No change |
| WMT Walmart Inc. | 0.22% | 3,000 | $263K | No change |
| XOM Exxon Mobil Corp. | 0.22% | 2,200 | $261K | No change |
| WM Waste Management Inc. | 0.22% | 1,125 | $260K | Reduce -8.2% |
| NVDA Nvidia Corp. | 0.22% | 2,387 | $258K | Add +13.6% |
| PROSHARES SHORT S&P500 | 0.20% | 5,500 | $245K | New |
| MRVL Marvell Technology Group Ltd. | 0.20% | 3,827 | $235K | Reduce -0.1% |
| MLPX Global X MLP & Energy Infras | 0.18% | 3,455 | $220K | Reduce -5.5% |
| IAU iShares Gold Trust | 0.18% | 3,650 | $215K | New |
| PLD Prologis Inc. | 0.18% | 1,901 | $212K | No change |
| XLK SS Technology Select Sector | 0.17% | 975 | $201K | No change |
| VHT Vanguard Health Care ETF | 0.17% | 760 | $201K | New |
| AQN Algonquin Power & Utilities | 0.14% | 33,400 | $171K | Reduce -62.2% |
| AMBP Ardagh Metal Packaging SA | 0.10% | 38,350 | $115K | Reduce -3.5% |
| YOLO Advisorshares Pure Cannabis | 0.06% | 43,850 | $77K | Add +2.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $254K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 10,450 | $254K | New |
Total filed on the 13F, all lines: $120.1M.
Portfolio Sells Q4 2024 → Q1 2025
| AES AES Corp. | Reduce -56.7% | 0.88% | −1.16 |
| KBR KBR Inc. | Sold out | 0.00% | −1.05 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -5.3% | 4.42% | −0.98 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.74 |
| XIFR XPLR Infrastructure LP | Reduce -14.2% | 0.63% | −0.70 |
| GOOGL Alphabet Inc. Class A | Reduce -0.8% | 1.97% | −0.39 |
| AMZN Amazon.com Inc. | Reduce -2.3% | 2.37% | −0.35 |
| PWR Quanta Services Inc. | Reduce -8.2% | 1.03% | −0.32 |
| MSFT Microsoft Corp. | Reduce -6.7% | 1.79% | −0.30 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.27 |
| AAPL Apple Inc. | Reduce -1.8% | 2.17% | −0.25 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.24 |
| MRK Merck & Co. Inc. | Reduce -2.4% | 2.31% | −0.24 |
| BAX Baxter International Inc. | Sold out | 0.00% | −0.24 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.21 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.21 |
| PEP Pepsico Inc. | Reduce -12.7% | 1.38% | −0.18 |
| AQN Algonquin Power & Utilities | Reduce -62.2% | 0.14% | −0.18 |
| MS Morgan Stanley | Reduce -4.7% | 1.50% | −0.15 |
| MRVL Marvell Technology Group Ltd. | Reduce -0.1% | 0.20% | −0.15 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.08 |
| SYY Sysco Corp. | Reduce -8.6% | 0.67% | −0.06 |
| SYK Stryker Corp. | Reduce -10.1% | 1.19% | −0.05 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -7.5% | 1.42% | −0.05 |
| JPM JPMorgan Chase & Co. | Reduce -10.4% | 0.68% | −0.04 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -6.3% | 1.22% | −0.03 |
| GRAL Grail Inc. | Reduce -35.0% | 0.33% | −0.01 |
| AMBP Ardagh Metal Packaging SA | Reduce -3.5% | 0.10% | −0.00 |
| MLPX Global X MLP & Energy Infras | Reduce -5.5% | 0.18% | +0.00 |
| WM Waste Management Inc. | Reduce -8.2% | 0.22% | +0.02 |
| APD Air Products & Chemicals Inc. | Reduce -3.7% | 3.05% | +0.02 |
| XLC SS Comm Select Sector SPDR | Reduce -0.0% | 1.05% | +0.03 |
| NOC Northrop Grumman Corp. | Reduce -6.7% | 0.73% | +0.03 |
| JNJ Johnson & Johnson | Reduce -10.8% | 0.80% | +0.04 |
| ENB Enbridge Inc. | Reduce -4.1% | 1.63% | +0.05 |
| KO The Coca-Cola Co. | Reduce -7.5% | 0.76% | +0.07 |
| MDLZ Mondelez International Inc. Class A | Reduce -7.2% | 0.87% | +0.07 |
| ETR Entergy Corp. | Reduce -6.2% | 1.19% | +0.10 |
| CB Chubb Ltd. | Reduce -3.8% | 1.90% | +0.14 |
| GLD SPDR Gold Shares | Reduce -0.7% | 0.84% | +0.15 |
| AEM Agnico Eagle Mines Ltd. | Reduce -8.0% | 0.64% | +0.15 |
| PBA Pembina Pipeline Corp. | Reduce -2.7% | 2.80% | +0.22 |
| KMI Kinder Morgan Inc. | Reduce -0.5% | 3.60% | +0.23 |
| MDT Medtronic PLC | Reduce -3.3% | 2.17% | +0.23 |
| SGOL Abrdn Physical Gold Shares | Reduce -6.3% | 1.94% | +0.25 |
| PHYS Sprott Physical Gold Trust | Reduce -5.5% | 2.05% | +0.29 |
| EPD Enterprise Products Partners | Reduce -4.0% | 4.38% | +0.31 |
| RTX RTX Corp. | Reduce -0.0% | 2.36% | +0.36 |
| ABT Abbott Laboratories | Reduce -3.9% | 2.63% | +0.36 |
| PAGP Plains GP Hldgs L P | Reduce -2.0% | 3.47% | +0.51 |
Portfolio Buys Q4 2024 → Q1 2025
| BEPC Brookfield Renewable Cor-A | Add +117.5% | 2.24% | +1.25 |
| SRE Sempra | Add +289.2% | 1.57% | +1.09 |
| AVA Avista Corp. | Add +10.7% | 1.42% | +0.33 |
| RGLD Royal Gold Inc. | Add +10.1% | 0.98% | +0.28 |
| B Barrick Gold Corp. | Add +0.1% | 1.21% | +0.27 |
| PM Philip Morris International | New | 0.27% | +0.27 |
| PROSHARES SHORT S&P500 | New | 0.20% | +0.20 |
| IAU iShares Gold Trust | New | 0.18% | +0.18 |
| CVX Chevron Corp. | Add +2.4% | 0.97% | +0.17 |
| VHT Vanguard Health Care ETF | New | 0.17% | +0.17 |
| AZN Astrazeneca PLC-Spons ADR | Add +4.3% | 0.86% | +0.15 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +35.1% | 1.02% | +0.11 |
| JAAA Janus Henderson Aaa Clo ETF | Add +18.5% | 0.36% | +0.06 |
| ALERIAN MLP ETF | Add +7.7% | 0.36% | +0.06 |
| UNP Union Pacific Corp. | Add +0.2% | 0.83% | +0.05 |
| PFE Pfizer Inc. | Add +6.3% | 1.06% | +0.05 |
| BTI British American Tob-SP ADR | Add +0.4% | 0.29% | +0.04 |
| BSV Vanguard Short-Term Bond ETF | Add +1.6% | 0.42% | +0.02 |
| SHY iShares 1-3 Year Treasury Bo | Add +2.4% | 0.38% | +0.02 |
| NEE Nextera Energy Inc. | Add +2.0% | 0.23% | +0.01 |
| NVDA Nvidia Corp. | Add +13.6% | 0.22% | −0.01 |
| YOLO Advisorshares Pure Cannabis | Add +2.1% | 0.06% | −0.02 |
| J Jacobs Solutions Inc. | Add +5.4% | 1.57% | −0.03 |
| PYPL PayPal Holdings Inc. | Add +11.9% | 0.32% | −0.04 |
| AVGO Broadcom Inc. | Add +5.5% | 0.42% | −0.11 |
| GTLS Chart Industries Inc. | Add +4.0% | 0.80% | −0.19 |
| PRIM Primoris Services Corp. | Add +0.1% | 3.78% | −1.10 |
Notes & Other Activity Q4 2024 → Q1 2025
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | New | 10,450 | $254K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 103 | $155.8M | TSM, VanEck Gold Miners ETF, EPD, PRIM, GOOGL |
| Q1 2026 | 99 | $156.3M | PRIM, TSM, VanEck Gold Miners ETF, EPD, KMI |
| Q4 2025 | 98 | $153.7M | VanEck Gold Miners ETF, TSM, PRIM, EPD, KMI |
| Q3 2025 | 90 | $146.6M | PRIM, TSM, VanEck Gold Miners ETF, EPD, KMI |
| Q2 2025 | 88 | $130.7M | TSM, PRIM, VanEck Gold Miners ETF, EPD, KMI |
| Q1 2025 | 84 | $119.9M | TSM, EPD, VanEck Gold Miners ETF, PRIM, KMI |
| Q4 2024 | 88 | $123.4M | TSM, PRIM, EPD, KMI, APD |
| Q3 2024 | 85 | $125.2M | TSM, PRIM, EPD, VanEck Gold Miners ETF, APD |
| Q2 2024 | 83 | $119.6M | TSM, PRIM, EPD, MRK, PAGP |
| Q1 2024 | 74 | $114.5M | TSM, PRIM, EPD, MRK, PAGP |