Beach Investment Counsel Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 8, 2024), Beach Investment Counsel Inc. reported 232 stock positions worth $812.1 million. Its top holding was Enterprise Products Partners (EPD) at 7.8% of the portfolio, followed by Energy Transfer (ET, 5.9%) and Amazon.com (AMZN, 4.7%). Compared with Q1 2024, it opened 96 new positions, sold out of 9, added to 7 and reduced 100. The biggest buy was Citigroup (C, shares +591%) and the biggest sale Mondelez International Class A (MDLZ, shares −53%).

Most Recent 13F
Q1 2025
Location
WEST CONSHOHOCKEN, PA
CIK
0001058800
Portfolio Value
$812.1M (Q2 2024)
SEC Filing
0001058800-24-000003 ↗ filed Jul 8, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $810.8M Q1 2024 Q2 2024: $812.1M $812.1M Q2 2024 Q3 2024: $808.5M Q3 2024 Q4 2024: $739.9M Q4 2024 Q1 2025: $679.4M Q1 2025

Holdings 232 stocks · $812.1M
EPD Enterprise Products Partners 7.78% 2,181,196 $63.2M Reduce -5.5%
ET Energy Transfer LP 5.89% 2,950,069 $47.9M No change
AMZN Amazon.com Inc. 4.73% 198,691 $38.4M Reduce -0.1%
MPLX MPLX LP 4.72% 899,089 $38.3M No change
NEE Nextera Energy Inc. 4.48% 513,845 $36.4M Reduce -1.0%
GOOGL Alphabet Inc. Class A 4.44% 197,910 $36.0M Add +19.5%
XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP 4.12% 1,210,619 $33.5M Reduce -4.2%
VST Vistra Corp. 3.84% 362,502 $31.2M Reduce -11.9%
HR Healthcare Realty Trust Inc. 3.34% 1,645,186 $27.1M Reduce -2.7%
MSFT Microsoft Corp. 3.00% 54,473 $24.3M Reduce -21.1%
KO The Coca-Cola Co. 2.42% 308,315 $19.6M Reduce -7.1%
JPM JPMorgan Chase & Co. 2.34% 93,802 $19.0M Reduce -14.6%
APO Apollo Global Management Inc. 2.32% 159,548 $18.8M Add +22.7%
META Meta Platforms Inc. Class A 2.05% 33,085 $16.7M Add +49.5%
AAPL Apple Inc. 2.00% 76,930 $16.2M Reduce -24.7%
C Citigroup Inc. 1.95% 249,288 $15.8M Add +590.8%
CRH CRH PLC 1.66% 180,246 $13.5M Reduce -0.3%
MA Mastercard Inc. Class A 1.66% 30,593 $13.5M Reduce -2.0%
BSX Boston Scientific Corp. 1.60% 168,517 $13.0M Reduce -1.0%
NSRGY Nestle SA-Spons ADR 1.48% 117,649 $12.1M Reduce -38.4%
CWEN Clearway Energy Inc. Class C 1.46% 479,055 $11.8M Add +116.1%
V Visa Inc. Class A 1.39% 43,050 $11.3M Reduce -0.7%
CNP Centerpoint Energy Inc. 1.31% 344,587 $10.7M Reduce -17.4%
MDLZ Mondelez International Inc. Class A 1.20% 149,513 $9.8M Reduce -52.7%
SHEL Shell PLC-ADR 1.10% 124,257 $9.0M Reduce -34.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.06% 217,285 $8.6M Add +90.3%
DTE DTE Energy Company 0.95% 69,414 $7.7M Reduce -17.5%
HHH Howard Hughes Holdings Inc. 0.95% 118,459 $7.7M Reduce -22.8%
BAESY Bae Systems PLC -Spon ADR 0.90% 109,287 $7.3M Reduce -12.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.90% 13,410 $7.3M No change
LNG Cheniere Energy Inc. 0.89% 41,253 $7.2M New
PCG P G & E Corp. 0.83% 385,459 $6.7M Reduce -26.7%
KKR KKR & Co. Inc. 0.82% 63,400 $6.7M Reduce -0.8%
JNJ Johnson & Johnson 0.74% 40,868 $6.0M Reduce -21.7%
EMR Emerson Electric Co. 0.72% 52,965 $5.8M Reduce -21.9%
PNC PNC Financial Services Group 0.70% 36,517 $5.7M Add +79.0%
CAT Caterpillar Inc. 0.69% 16,748 $5.6M Reduce -18.5%
KW Kennedy-Wilson Holdings Inc. 0.67% 560,758 $5.5M Reduce -37.8%
MRK Merck & Co. Inc. 0.64% 42,073 $5.2M Reduce -24.4%
BX Blackstone Inc. 0.59% 38,706 $4.8M Reduce -13.2%
GOOG Alphabet Inc. Class C 0.56% 24,895 $4.6M No change
WY Weyerhaeuser Co. 0.54% 154,725 $4.4M Reduce -29.6%
FDX FedEx Corp. 0.53% 14,308 $4.3M Reduce -21.6%
PG The Procter & Gamble Co. 0.51% 25,093 $4.1M Reduce -35.3%
TMO Thermo Fisher Scientific Inc. 0.49% 7,245 $4.0M Reduce -18.9%
NVDA Nvidia Corp. 0.49% 32,400 $4.0M No change
PPL PPL Corp. 0.49% 144,422 $4.0M New
NVS Novartis AG-Sponsored ADR 0.45% 34,172 $3.6M Reduce -10.0%
LLY Eli Lilly & Co. 0.43% 3,830 $3.5M Reduce -3.5%
BRK.B Berkshire Hathaway Inc. Class B 0.41% 8,217 $3.3M Reduce -44.5%
BIP Brookfield Infrastructure Pa 0.36% 105,823 $2.9M Reduce -27.5%
FCX Freeport-McMoran Inc. 0.35% 58,230 $2.8M Reduce -12.2%
COST Costco Wholesale Corp. 0.35% 3,310 $2.8M Reduce -39.6%
PEP Pepsico Inc. 0.35% 17,045 $2.8M Reduce -16.0%
WMB Williams Cos Inc. 0.33% 62,228 $2.6M Reduce -1.0%
UL Unilever PLC 0.31% 46,141 $2.5M Reduce -24.8%
RHHBY Roche Holdings Ltd.-Spons ADR 0.30% 70,240 $2.4M Reduce -20.0%
UBS UBS Group AG-Reg 0.29% 80,756 $2.4M Reduce -3.9%
SIEGY Siemens AG-Spons ADR 0.29% 24,871 $2.3M Reduce -14.3%
NGG National Grid PLC-SP ADR 0.28% 40,448 $2.3M Reduce -23.9%
PAGP Plains GP Holdings LP 0.28% 121,128 $2.3M Reduce -0.8%
BUD Anheuser-Busch Inbev-SPN ADR 0.27% 37,960 $2.2M Reduce -38.3%
ENGIY Engie-Spon ADR 0.25% 144,650 $2.1M Reduce -2.5%
MDT Medtronic PLC 0.25% 26,060 $2.1M Reduce -24.5%
CSCO Cisco Systems Inc. 0.25% 42,418 $2.0M Reduce -0.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.24% 19,223 $1.9M Reduce -17.1%
DTEGY Deutsche Telekom AG-Spon ADR 0.23% 73,914 $1.9M Reduce -14.5%
UNP Union Pacific Corp. 0.22% 8,021 $1.8M Reduce -38.8%
AXP American Express Co. 0.21% 7,433 $1.7M Reduce -2.6%
CCS Century Communities Inc. 0.18% 18,296 $1.5M Reduce -42.0%
IYW iShares Ustechnology ETF 0.18% 9,800 $1.5M No change
ADP Automatic Data Processing 0.18% 6,059 $1.4M Reduce -42.1%
XOM Exxon Mobil Corp. 0.17% 11,755 $1.4M No change
SYY Sysco Corp. 0.16% 18,320 $1.3M Reduce -46.6%
PLD Prologis Inc. 0.16% 11,357 $1.3M Reduce -1.2%
PFE Pfizer Inc. 0.15% 44,473 $1.2M Reduce -58.2%
DHLGY DHL AG - ADR filed as DEUTSCHE POST AG 0.15% 30,023 $1.2M Reduce -2.3%
CVX Chevron Corp. 0.15% 7,649 $1.2M Reduce -38.6%
VEOEY Veolia Environnement-ADR 0.13% 71,850 $1.1M Reduce -31.5%
DOC Healthpeak Properties Inc. 0.12% 49,445 $969K Reduce -15.2%
ORCL Oracle Corp. 0.12% 6,700 $946K No change
RTX RTX Corp. 0.11% 8,935 $897K Reduce -13.6%
CB Chubb Ltd. 0.11% 3,422 $873K Reduce -16.1%
IBDRY Iberdrola SA-Sponsored ADR 0.10% 15,625 $817K Reduce -37.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.09% 848 $765K No change
DE Deere & Co. 0.09% 2,041 $763K No change
SPGI S&P Global Inc. 0.09% 1,600 $714K No change
FMX Fomento Economico Mex-SP ADR 0.09% 6,550 $705K Reduce -46.1%
LDOS Leidos Holdings Inc. 0.08% 4,520 $659K Reduce -16.6%
KMB Kimberly-Clark Corp. 0.08% 4,634 $640K Reduce -3.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 3,696 $639K Reduce -22.2%
KMI Kinder Morgan Inc. 0.08% 31,505 $626K Reduce -37.3%
BRK.A Berkshire Hathaway Inc. Class A 0.08% 1 $612K Reduce -66.7%
OKE Oneok Inc. 0.08% 7,495 $611K Reduce -56.7%
BNPQY BNP Paribas-ADR 0.07% 18,900 $607K Reduce -1.6%
CVS CVS Health Corp. 0.07% 9,862 $582K Reduce -66.8%
SCHW Schwab (charles) Corp. 0.07% 7,478 $551K No change
LIN Linde PLC 0.07% 1,250 $549K No change
AIG American International Group 0.07% 7,142 $530K No change
EONGY E.on SE -Sponsored ADR filed as E ON AG 0.06% 39,100 $515K Reduce -20.7%

Show all 232 holdings

Portfolio Sells Q1 2024 → Q2 2024
MDLZ Mondelez International Inc. Class A Reduce -52.7% 1.20% −1.62
NSRGY Nestle SA-Spons ADR Reduce -38.4% 1.48% −1.24
UNH Unitedhealth Group Inc. Reduce -98.4% 0.02% −1.22
IDA Idacorp Inc. Sold out 0.00% −0.84
KW Kennedy-Wilson Holdings Inc. Reduce -37.8% 0.67% −0.71
HHH Howard Hughes Holdings Inc. Reduce -22.8% 0.95% −0.67
AEE Ameren Corporation Sold out 0.00% −0.66
XIFR XPLR Infrastructure LP Reduce -4.2% 4.12% −0.62
SHEL Shell PLC-ADR Reduce -34.4% 1.10% −0.43
AAPL Apple Inc. Reduce -24.7% 2.00% −0.43
WY Weyerhaeuser Co. Reduce -29.6% 0.54% −0.40
PCG P G & E Corp. Reduce -26.7% 0.83% −0.34
SYK Stryker Corp. Reduce -86.8% 0.06% −0.32
JNJ Johnson & Johnson Reduce -21.7% 0.74% −0.27
CDNS Cadence Design SYS Inc. Sold out 0.00% −0.27
SLB SLB Ltd. Reduce -97.8% 0.01% −0.26
HR Healthcare Realty Trust Inc. Reduce -2.7% 3.34% −0.26
BRK.B Berkshire Hathaway Inc. Class B Reduce -44.5% 0.41% −0.24
PFE Pfizer Inc. Reduce -58.2% 0.15% −0.22
BUD Anheuser-Busch Inbev-SPN ADR Reduce -38.3% 0.27% −0.22
CVS CVS Health Corp. Reduce -66.8% 0.07% −0.22
BIP Brookfield Infrastructure Pa Reduce -27.5% 0.36% −0.21
MSFT Microsoft Corp. Reduce -21.1% 3.00% −0.20
DTE DTE Energy Company Reduce -17.5% 0.95% −0.20
PG The Procter & Gamble Co. Reduce -35.3% 0.51% −0.19
UNP Union Pacific Corp. Reduce -38.8% 0.22% −0.17
CCS Century Communities Inc. Reduce -42.0% 0.18% −0.17
NGG National Grid PLC-SP ADR Reduce -23.9% 0.28% −0.16
CNP Centerpoint Energy Inc. Reduce -17.4% 1.31% −0.15
SYY Sysco Corp. Reduce -46.6% 0.16% −0.15
BX Blackstone Inc. Reduce -13.2% 0.59% −0.13
BRK.A Berkshire Hathaway Inc. Class A Reduce -66.7% 0.08% −0.13
ADP Automatic Data Processing Reduce -42.1% 0.18% −0.12
FMX Fomento Economico Mex-SP ADR Reduce -46.1% 0.09% −0.11
MRK Merck & Co. Inc. Reduce -24.4% 0.64% −0.11
COST Costco Wholesale Corp. Reduce -39.6% 0.35% −0.10
MDT Medtronic PLC Reduce -24.5% 0.25% −0.10
SSREY Swiss Re Ltd.-SPN ADR Sold out 0.00% −0.10
EMR Emerson Electric Co. Reduce -21.9% 0.72% −0.10
RHHBY Roche Holdings Ltd.-Spons ADR Reduce -20.0% 0.30% −0.09
TMO Thermo Fisher Scientific Inc. Reduce -18.9% 0.49% −0.09
WBD Warner Bros Discovery Inc. Reduce -96.0% 0.00% −0.08
CVX Chevron Corp. Reduce -38.6% 0.15% −0.08
PEP Pepsico Inc. Reduce -16.0% 0.35% −0.08
OKE Oneok Inc. Reduce -56.7% 0.08% −0.07
VEOEY Veolia Environnement-ADR Reduce -31.5% 0.13% −0.07
ENGIY Engie-Spon ADR Reduce -2.5% 0.25% −0.07
CAT Caterpillar Inc. Reduce -18.5% 0.69% −0.06
IBDRY Iberdrola SA-Sponsored ADR Reduce -37.1% 0.10% −0.06
TRI Thomson Reuters Corp. Sold out 0.00% −0.06

Portfolio Buys Q1 2024 → Q2 2024
C Citigroup Inc. Add +590.8% 1.95% +1.72
GOOGL Alphabet Inc. Class A Add +19.5% 4.44% +1.59
META Meta Platforms Inc. Class A Add +49.5% 2.05% +1.09
LNG Cheniere Energy Inc. New 0.89% +0.89
APO Apollo Global Management Inc. Add +22.7% 2.32% +0.83
CWEN Clearway Energy Inc. Class C Add +116.1% 1.46% +0.71
BAC Bank of America Corp. Add +90.3% 1.06% +0.59
PPL PPL Corp. New 0.49% +0.49
PNC PNC Financial Services Group Add +79.0% 0.70% +0.31
MCK McKesson Corp. New 0.03% +0.03
GLW Corning Inc. New 0.03% +0.03
SPOT Spotify Technology SA New 0.03% +0.03
NRG NRG Energy Inc. New 0.02% +0.02
MKL Markel Group Inc. New 0.02% +0.02
IWD iShares Russell 1000 Value E New 0.02% +0.02
BWEL Boswell (jg) Co. New 0.02% +0.02
WMT Walmart Inc. New 0.02% +0.02
CARR Carrier Global Corp. New 0.02% +0.02
STZ Constellation Brands Inc. Class A New 0.02% +0.02
COP Conocophillips New 0.02% +0.02
LUV Southwest Airlines Co. New 0.02% +0.02
NEM Newmont Corp. New 0.02% +0.02
CNC Centene Corp. New 0.02% +0.02
CL Colgate-Palmolive Co. New 0.02% +0.02
CWEN.A Clearway Energy Inc. Class A New 0.02% +0.02
DOV Dover Corp. New 0.01% +0.01
TGT Target Corp. New 0.01% +0.01
MORN Morningstar Inc. New 0.01% +0.01
PM Philip Morris International New 0.01% +0.01
DEO Diageo PLC-Sponsored ADR New 0.01% +0.01
COF Capital One Financial Corp. New 0.01% +0.01
IVV iShares Core S&P 500 ETF New 0.01% +0.01
HD Home Depot Inc. New 0.01% +0.01
AFL Aflac Inc. New 0.01% +0.01
ACN Accenture PLC Class A New 0.01% +0.01
SSEZY Sse PLC-SPN ADR New 0.01% +0.01
ALL Allstate Corp. New 0.01% +0.01
TXN Texas Instruments Inc. New 0.01% +0.01
MRSH Marsh & McLennan Cos New 0.01% +0.01
PRGO Perrigo Co. PLC New 0.01% +0.01
IWM iShares Russell 2000 ETF New 0.01% +0.01
GIS General Mills Inc. New 0.01% +0.01
CTSH Cognizant Tech Solutions-A New 0.01% +0.01
OTIS Otis Worldwide Corp. New 0.01% +0.01
USB US Bancorp New 0.01% +0.01
ENB Enbridge Inc. New 0.01% +0.01
TM Toyota Motor Corp. -Spon ADR New 0.01% +0.01
PCH Potlatchdeltic Corp. New 0.01% +0.01
GEHC GE Healthcare Technology New 0.01% +0.01
B Barrick Gold Corp. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2025 117$679.4MEPD, ET, MPLX, VST, AMZN
Q4 2024 120$739.9MEPD, ET, VST, MPLX, AMZN
Q3 2024 225$808.5MEPD, ET, NEE, VST, MPLX
Q2 2024 232$812.1MEPD, ET, AMZN, MPLX, NEE
Q1 2024 143$810.8MEPD, ET, XIFR, MPLX, NEE