A. D. Beadell Investment Counsel, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 10, 2025), A. D. Beadell Investment Counsel, Inc. reported 90 stock positions worth $146.6 million. Its top holding was Primoris Services (PRIM) at 6.2% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 5.0%) and VanEck Gold Miners ETF (5.0%). Compared with Q2 2025, it opened 9 new positions, sold out of 7, added to 18 and reduced 37. The biggest buy was a new position in Vanguard Int Tax-Exempt Bond (VTEI) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −18%).
- Most Recent 13F
- Q2 2026
- Location
- MEQUON, WI
- CIK
- 0001569102
- Portfolio Value
- $146.6M (Q3 2025)
- SEC Filing
- 0001569102-25-000005 ↗ filed Oct 10, 2025
Holdings Value
Holdings 90 stocks · $146.6M
| PRIM Primoris Services Corp. | 6.17% | 65,920 | $9.1M | Reduce -17.2% |
| TSM Taiwan Semiconductor-SP ADR | 5.01% | 26,297 | $7.3M | Reduce -18.4% |
| VanEck Gold Miners ETF | 5.01% | 96,065 | $7.3M | Reduce -8.6% |
| EPD Enterprise Products Partners | 3.33% | 155,910 | $4.9M | No change |
| KMI Kinder Morgan Inc. | 2.85% | 147,355 | $4.2M | Reduce -0.1% |
| RTX RTX Corp. | 2.41% | 21,155 | $3.5M | No change |
| PBA Pembina Pipeline Corp. | 2.37% | 85,805 | $3.5M | Add +0.7% |
| APD Air Products & Chemicals Inc. | 2.29% | 12,322 | $3.4M | Reduce -1.5% |
| BEPC Brookfield Renewable Cor-A | 2.25% | 95,765 | $3.3M | Reduce -1.0% |
| AMZN Amazon.com Inc. | 2.19% | 14,605 | $3.2M | Reduce -3.5% |
| ABT Abbott Laboratories | 2.16% | 23,680 | $3.2M | Reduce -2.1% |
| GOOGL Alphabet Inc. Class A | 2.14% | 12,885 | $3.1M | Reduce -10.9% |
| MSFT Microsoft Corp. | 2.03% | 5,748 | $3.0M | Reduce -2.5% |
| PAGP Plains GP Hldgs L P | 2.00% | 160,725 | $2.9M | Reduce -1.2% |
| PHYS Sprott Physical Gold Trust | 1.98% | 97,818 | $2.9M | Reduce -2.9% |
| B Barrick Mining Corp. | 1.97% | 88,245 | $2.9M | Reduce -4.4% |
| MDT Medtronic PLC | 1.87% | 28,745 | $2.7M | Reduce -1.7% |
| SGOL Abrdn Physical Gold Shares | 1.84% | 73,450 | $2.7M | Reduce -3.7% |
| AAPL Apple Inc. | 1.81% | 10,437 | $2.7M | Reduce -2.3% |
| SRE Sempra | 1.79% | 29,175 | $2.6M | Add +0.1% |
| MRK Merck & Co. Inc. | 1.72% | 30,099 | $2.5M | Reduce -3.3% |
| MS Morgan Stanley | 1.67% | 15,396 | $2.4M | Reduce -2.2% |
| J Jacobs Solutions Inc. | 1.59% | 15,585 | $2.3M | Reduce -1.6% |
| BDX Becton Dickinson and Co. | 1.56% | 12,200 | $2.3M | Add +8.4% |
| LMT Lockheed Martin Corp. | 1.52% | 4,478 | $2.2M | Add +41.8% |
| ENB Enbridge Inc. | 1.51% | 43,742 | $2.2M | Reduce -2.1% |
| CB Chubb Ltd. | 1.43% | 7,445 | $2.1M | Reduce -2.2% |
| PWR Quanta Services Inc. | 1.39% | 4,911 | $2.0M | Reduce -4.7% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.30% | 34,228 | $1.9M | Add +38.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.25% | 23,006 | $1.8M | Reduce -1.4% |
| AVA Avista Corp. | 1.12% | 43,605 | $1.6M | Reduce -0.1% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.09% | 30,150 | $1.6M | No change |
| PEP Pepsico Inc. | 1.06% | 11,026 | $1.5M | Reduce -2.2% |
| ETR Entergy Corp. | 1.05% | 16,515 | $1.5M | Reduce -3.2% |
| CEF Sprott Physical Gold & Silver | 1.03% | 41,020 | $1.5M | Reduce -0.1% |
| RGLD Royal Gold Inc. | 1.00% | 7,279 | $1.5M | Add +1.5% |
| XLC SS Comm Select Sector SPDR | 0.97% | 12,025 | $1.4M | No change |
| SYK Stryker Corp. | 0.96% | 3,820 | $1.4M | No change |
| VTEI Vanguard Int Tax-Exempt Bond | 0.92% | 13,475 | $1.4M | New |
| PFE Pfizer Inc. | 0.88% | 50,896 | $1.3M | Reduce -0.5% |
| LH Laboratory CRP of Amer Hldgs filed as LABCORP HLDGS INC | 0.85% | 4,344 | $1.2M | No change |
| HESM Hess Midstream LP Class A | 0.85% | 36,050 | $1.2M | Add +24.7% |
| POR Portland General Electric Co. | 0.82% | 27,180 | $1.2M | Add +63.1% |
| AES AES Corp. | 0.79% | 88,250 | $1.2M | Add +4.0% |
| EMA Emera Inc. | 0.79% | 24,055 | $1.2M | No change |
| JNJ Johnson & Johnson | 0.73% | 5,805 | $1.1M | No change |
| GLD SPDR Gold Shares | 0.73% | 3,027 | $1.1M | Reduce -6.2% |
| CVX Chevron Corp. | 0.73% | 6,919 | $1.1M | No change |
| AZN Astrazeneca PLC-Spons ADR | 0.73% | 13,960 | $1.1M | No change |
| NOC Northrop Grumman Corp. | 0.73% | 1,747 | $1.1M | No change |
| GTLS Chart Industries Inc. | 0.72% | 5,275 | $1.1M | Reduce -19.5% |
| JPM JPMorgan Chase & Co. | 0.69% | 3,222 | $1.0M | Reduce -5.2% |
| MDLZ Mondelez International Inc. Class A | 0.65% | 15,231 | $951K | Reduce -3.8% |
| UNP Union Pacific Corp. | 0.62% | 3,863 | $913K | No change |
| BAX Baxter International Inc. | 0.61% | 39,175 | $892K | New |
| SYY Sysco Corp. | 0.60% | 10,647 | $876K | Reduce -4.5% |
| AVGO Broadcom Inc. | 0.60% | 2,649 | $873K | Reduce -11.0% |
| AEM Agnico Eagle Mines Ltd. | 0.56% | 4,865 | $820K | Reduce -27.3% |
| ORI Old Republic Intl Corp. | 0.53% | 18,195 | $772K | New |
| AEP American Electric Power | 0.52% | 6,760 | $760K | No change |
| GPK Graphic Packaging Holding Co. | 0.50% | 37,230 | $728K | Add +5.0% |
| KO The Coca-Cola Co. | 0.50% | 10,971 | $727K | No change |
| ECL Ecolab Inc. | 0.44% | 2,375 | $650K | No change |
| NVDA Nvidia Corp. | 0.44% | 3,480 | $649K | Reduce -1.7% |
| XIFR XPLR Infrastructure LP | 0.41% | 59,580 | $605K | Reduce -4.8% |
| SHY iShares 1-3 Year Treasury Bo | 0.40% | 7,157 | $593K | Add +17.9% |
| FCX Freeport-McMoran Inc. | 0.36% | 13,485 | $528K | New |
| BSV Vanguard Short-Term Bond ETF | 0.33% | 6,057 | $478K | Add +0.0% |
| JAAA Janus Henderson Aaa Clo ETF | 0.31% | 8,900 | $451K | Add +1.1% |
| BTI British American Tob-SP ADR | 0.28% | 7,700 | $408K | No change |
| D Dominion Energy Inc. | 0.28% | 6,625 | $405K | No change |
| ALERIAN MLP ETF filed as ALPS | 0.27% | 8,600 | $403K | Add +3.0% |
| MSOS Advisorshares Pure US Cann | 0.27% | 82,400 | $394K | Add +0.7% |
| GOOG Alphabet Inc. Class C | 0.26% | 1,575 | $383K | No change |
| RWM Proshares Short RUSSELL2000 | 0.23% | 20,500 | $344K | New |
| COLD Americold Realty Trust Inc. | 0.23% | 27,075 | $331K | Add +38.1% |
| WMT Walmart Inc. | 0.21% | 3,000 | $309K | No change |
| ANET Arista Networks Inc. | 0.21% | 2,066 | $301K | No change |
| NEE Nextera Energy Inc. | 0.20% | 3,890 | $293K | Add +0.3% |
| XLK SS Technology Select Sector | 0.18% | 950 | $267K | No change |
| IAU iShares Gold Trust | 0.18% | 3,600 | $261K | No change |
| XOM Exxon Mobil Corp. | 0.17% | 2,200 | $248K | No change |
| WM Waste Management Inc. | 0.17% | 1,125 | $248K | No change |
| MLPX Global X MLP & Energy Infras | 0.15% | 3,456 | $216K | Add +0.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.14% | 4,000 | $206K | New |
| COR Cencora Inc. | 0.14% | 647 | $202K | New |
| C Citigroup Inc. | 0.14% | 1,990 | $201K | New |
| PLD Prologis Inc. | 0.14% | 1,751 | $200K | New |
| AMBP Ardagh Metal Packaging SA | 0.10% | 38,350 | $153K | No change |
| AQN Algonquin Power & Utilities | 0.05% | 12,500 | $67K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $263K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 10,450 | $263K | No change |
Total filed on the 13F, all lines: $146.9M.
Portfolio Sells Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -18.4% | 5.01% | −0.58 |
| GRAL Grail Inc. | Sold out | 0.00% | −0.50 |
| KMI Kinder Morgan Inc. | Reduce -0.1% | 2.85% | −0.47 |
| PAGP Plains GP Hldgs L P | Reduce -1.2% | 2.00% | −0.42 |
| APD Air Products & Chemicals Inc. | Reduce -1.5% | 2.29% | −0.41 |
| MP MP Materials Corp. | Sold out | 0.00% | −0.37 |
| AMZN Amazon.com Inc. | Reduce -3.5% | 2.19% | −0.35 |
| ABT Abbott Laboratories | Reduce -2.1% | 2.16% | −0.35 |
| PROSHARES SHORT S&P500 | Sold out | 0.00% | −0.26 |
| CB Chubb Ltd. | Reduce -2.2% | 1.43% | −0.25 |
| MET Metlife Inc. | Sold out | 0.00% | −0.22 |
| MRVL Marvell Technology Group Ltd. | Sold out | 0.00% | −0.22 |
| MSFT Microsoft Corp. | Reduce -2.5% | 2.03% | −0.21 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −0.21 |
| BEPC Brookfield Renewable Cor-A | Reduce -1.0% | 2.25% | −0.18 |
| MDLZ Mondelez International Inc. Class A | Reduce -3.8% | 0.65% | −0.17 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -1.4% | 1.25% | −0.17 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.16 |
| MRK Merck & Co. Inc. | Reduce -3.3% | 1.72% | −0.16 |
| AVA Avista Corp. | Reduce -0.1% | 1.12% | −0.14 |
| GTLS Chart Industries Inc. | Reduce -19.5% | 0.72% | −0.11 |
| PWR Quanta Services Inc. | Reduce -4.7% | 1.39% | −0.10 |
| MDT Medtronic PLC | Reduce -1.7% | 1.87% | −0.08 |
| PEP Pepsico Inc. | Reduce -2.2% | 1.06% | −0.08 |
| PFE Pfizer Inc. | Reduce -0.5% | 0.88% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -5.2% | 0.69% | −0.06 |
| AEM Agnico Eagle Mines Ltd. | Reduce -27.3% | 0.56% | −0.05 |
| SYY Sysco Corp. | Reduce -4.5% | 0.60% | −0.05 |
| ENB Enbridge Inc. | Reduce -2.1% | 1.51% | −0.04 |
| ETR Entergy Corp. | Reduce -3.2% | 1.05% | −0.03 |
| AVGO Broadcom Inc. | Reduce -11.0% | 0.60% | −0.03 |
| MS Morgan Stanley | Reduce -2.2% | 1.67% | −0.03 |
| GLD SPDR Gold Shares | Reduce -6.2% | 0.73% | −0.02 |
| J Jacobs Solutions Inc. | Reduce -1.6% | 1.59% | +0.00 |
| SGOL Abrdn Physical Gold Shares | Reduce -3.7% | 1.84% | +0.01 |
| NVDA Nvidia Corp. | Reduce -1.7% | 0.44% | +0.02 |
| XIFR XPLR Infrastructure LP | Reduce -4.8% | 0.41% | +0.02 |
| PHYS Sprott Physical Gold Trust | Reduce -2.9% | 1.98% | +0.02 |
| CEF Sprott Physical Gold & Silver | Reduce -0.1% | 1.03% | +0.08 |
| AAPL Apple Inc. | Reduce -2.3% | 1.81% | +0.14 |
| GOOGL Alphabet Inc. Class A | Reduce -10.9% | 2.14% | +0.19 |
| B Barrick Mining Corp. | Reduce -4.4% | 1.97% | +0.50 |
| VanEck Gold Miners ETF | Reduce -8.6% | 5.01% | +0.82 |
| PRIM Primoris Services Corp. | Reduce -17.2% | 6.17% | +1.43 |
Portfolio Buys Q2 2025 → Q3 2025
| VTEI Vanguard Int Tax-Exempt Bond | New | 0.92% | +0.92 |
| BAX Baxter International Inc. | New | 0.61% | +0.61 |
| ORI Old Republic Intl Corp. | New | 0.53% | +0.53 |
| LMT Lockheed Martin Corp. | Add +41.8% | 1.52% | +0.41 |
| FCX Freeport-McMoran Inc. | New | 0.36% | +0.36 |
| POR Portland General Electric Co. | Add +63.1% | 0.82% | +0.30 |
| RWM Proshares Short RUSSELL2000 | New | 0.23% | +0.23 |
| BAC Bank of America Corp. | New | 0.14% | +0.14 |
| COR Cencora Inc. | New | 0.14% | +0.14 |
| C Citigroup Inc. | New | 0.14% | +0.14 |
| PLD Prologis Inc. | New | 0.14% | +0.14 |
| MSOS Advisorshares Pure US Cann | Add +0.7% | 0.27% | +0.12 |
| AES AES Corp. | Add +4.0% | 0.79% | +0.11 |
| SRE Sempra | Add +0.1% | 1.79% | +0.10 |
| BDX Becton Dickinson and Co. | Add +8.4% | 1.56% | +0.07 |
| RGLD Royal Gold Inc. | Add +1.5% | 1.00% | +0.02 |
| SHY iShares 1-3 Year Treasury Bo | Add +17.9% | 0.40% | +0.02 |
| HESM Hess Midstream LP Class A | Add +24.7% | 0.85% | −0.00 |
| NEE Nextera Energy Inc. | Add +0.3% | 0.20% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +38.1% | 1.30% | −0.01 |
| MLPX Global X MLP & Energy Infras | Add +0.0% | 0.15% | −0.02 |
| COLD Americold Realty Trust Inc. | Add +38.1% | 0.23% | −0.02 |
| JAAA Janus Henderson Aaa Clo ETF | Add +1.1% | 0.31% | −0.03 |
| ALERIAN MLP ETF | Add +3.0% | 0.27% | −0.04 |
| BSV Vanguard Short-Term Bond ETF | Add +0.0% | 0.33% | −0.04 |
| GPK Graphic Packaging Holding Co. | Add +5.0% | 0.50% | −0.07 |
| PBA Pembina Pipeline Corp. | Add +0.7% | 2.37% | −0.08 |
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 |