Beach Investment Counsel Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 27, 2025), Beach Investment Counsel Inc. reported 120 stock positions worth $739.9 million. Its top holding was Enterprise Products Partners (EPD) at 8.8% of the portfolio, followed by Energy Transfer (ET, 7.3%) and Vistra (VST, 5.9%). Compared with Q3 2024, it sold out of 105, added to 7 and reduced 93. The biggest buy was Cheniere Energy (LNG, shares +42%) and the biggest sale Nextera Energy (NEE, shares −22%).

Most Recent 13F
Q1 2025
Location
WEST CONSHOHOCKEN, PA
CIK
0001058800
Portfolio Value
$739.9M (Q4 2024)
SEC Filing
0001058800-25-000001 ↗ filed Jan 27, 2025

Holdings Value

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

Holdings 120 stocks · $739.9M

EPD Enterprise Products Partners 8.80% 2,076,112 $65.1M Reduce -2.7%
ET Energy Transfer LP 7.28% 2,750,952 $53.9M Reduce -4.1%
VST Vistra Corp. 5.94% 318,998 $44.0M Reduce -10.7%
MPLX MPLX LP 5.62% 868,779 $41.6M Reduce -1.1%
AMZN Amazon.com Inc. 5.24% 176,678 $38.8M Reduce -8.3%
GOOGL Alphabet Inc. Class A 4.29% 167,535 $31.7M Reduce -13.2%
NEE Nextera Energy Inc. 3.78% 390,588 $28.0M Reduce -22.5%
LNG Cheniere Energy Inc. 3.46% 118,991 $25.6M Add +42.1%
APO Apollo Global Management Inc. 3.11% 139,398 $23.0M Reduce -10.8%
HR Healthcare Realty Trust Inc. 2.86% 1,249,791 $21.2M Reduce -22.2%
JPM JPMorgan Chase & Co. 2.67% 82,391 $19.8M Reduce -11.0%
MSFT Microsoft Corp. 2.66% 46,700 $19.7M Reduce -12.2%
KO The Coca-Cola Co. 2.34% 277,966 $17.3M Reduce -7.4%
META Meta Platforms Inc. Class A 2.33% 29,412 $17.2M Reduce -9.2%
C Citigroup Inc. 2.25% 236,809 $16.7M Reduce -3.1%
CRH CRH PLC 2.12% 169,324 $15.7M Reduce -4.1%
MA Mastercard Inc. Class A 2.11% 29,623 $15.6M Reduce -1.0%
AAPL Apple Inc. 1.81% 53,440 $13.4M Reduce -29.6%
V Visa Inc. Class A 1.73% 40,562 $12.8M Reduce -3.4%
CWEN Clearway Energy Inc. Class C 1.46% 416,266 $10.8M Reduce -11.6%
BSX Boston Scientific Corp. 1.41% 116,921 $10.4M Reduce -29.1%
PCG P G & E Corp. 1.21% 444,767 $9.0M Add +17.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.17% 197,753 $8.7M Reduce -7.3%
HHH Howard Hughes Holdings Inc. 1.11% 106,372 $8.2M Reduce -9.3%
CNP Centerpoint Energy Inc. 1.09% 253,602 $8.0M Add +0.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.06% 13,410 $7.9M No change
DTE DTE Energy Company 1.00% 61,568 $7.4M Reduce -8.9%
XIFR XPLR Infrastructure LP filed as NEXTERA ENERGY PARTNERS LP 0.97% 403,173 $7.2M Reduce -12.8%
KKR KKR & Co. Inc. 0.94% 47,100 $7.0M Reduce -25.7%
PNC PNC Financial Services Group 0.92% 35,233 $6.8M Reduce -1.1%
PPL PPL Corp. 0.81% 183,838 $6.0M Add +29.8%
BAESY Bae Systems PLC -Spon ADR 0.79% 102,366 $5.9M Reduce -3.7%
BX Blackstone Inc. 0.67% 28,966 $5.0M Reduce -24.7%
JNJ Johnson & Johnson 0.63% 32,439 $4.7M Reduce -18.6%
KW Kennedy-Wilson Holdings Inc. 0.55% 411,005 $4.1M Reduce -26.1%
NVDA Nvidia Corp. 0.54% 29,825 $4.0M No change
MDLZ Mondelez International Inc. Class A 0.54% 66,417 $4.0M Reduce -14.5%
WY Weyerhaeuser Co. 0.48% 126,450 $3.6M Reduce -17.0%
GOOG Alphabet Inc. Class C 0.48% 18,580 $3.5M Reduce -21.3%
MRK Merck & Co. Inc. 0.48% 35,475 $3.5M Reduce -14.9%
PG The Procter & Gamble Co. 0.43% 18,978 $3.2M Reduce -23.7%
WMB Williams Cos Inc. 0.42% 56,781 $3.1M Reduce -8.8%
NSRGY Nestle SA-Spons ADR 0.39% 35,085 $2.9M Reduce -26.6%
TMO Thermo Fisher Scientific Inc. 0.38% 5,350 $2.8M Reduce -26.1%
BIP Brookfield Infrastructure Pa 0.37% 86,598 $2.8M Reduce -17.0%
NVS Novartis AG-Sponsored ADR 0.36% 27,566 $2.7M Reduce -18.6%
UBS UBS Group AG-Reg 0.29% 71,775 $2.2M Reduce -11.1%
PEP Pepsico Inc. 0.29% 14,275 $2.2M Reduce -16.3%
NGG National Grid PLC-SP ADR 0.28% 34,808 $2.1M Reduce -13.0%
CSCO Cisco Systems Inc. 0.28% 34,918 $2.1M Reduce -16.7%
DUOL Duolingo 0.28% 6,352 $2.1M Add +204.9%
ENGIY Engie-Spon ADR 0.28% 129,550 $2.1M Reduce -8.9%
UNP Union Pacific Corp. 0.27% 8,857 $2.0M Add +12.7%
LLY Eli Lilly & Co. 0.27% 2,610 $2.0M Reduce -31.9%
RHHBY Roche Holdings Ltd.-Spons ADR 0.27% 57,560 $2.0M Reduce -17.7%
UL Unilever PLC 0.26% 34,552 $2.0M Reduce -22.6%
SIEGY Siemens AG-Spons ADR 0.26% 20,071 $1.9M Reduce -19.3%
PAGP Plains GP Holdings LP 0.25% 101,987 $1.9M Reduce -15.8%
MDT Medtronic PLC 0.25% 22,782 $1.8M Reduce -8.6%
BRK.B Berkshire Hathaway Inc. Class B 0.24% 3,926 $1.8M Reduce -47.9%
DTEGY Deutsche Telekom AG-Spon ADR 0.24% 59,299 $1.8M Reduce -19.0%
FDX FedEx Corp. 0.22% 5,909 $1.7M Reduce -14.0%
IYW iShares Ustechnology ETF 0.21% 9,800 $1.6M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.20% 13,509 $1.5M Reduce -26.5%
ADP Automatic Data Processing 0.20% 4,959 $1.5M Reduce -18.1%
BUD Anheuser-Busch Inbev-SPN ADR 0.19% 27,540 $1.4M Reduce -27.1%
CCS Century Communities Inc. 0.14% 14,587 $1.1M Reduce -16.0%
COST Costco Wholesale Corp. 0.14% 1,167 $1.1M Reduce -63.6%
SYY Sysco Corp. 0.14% 13,920 $1.1M Reduce -24.0%
ORCL Oracle Corp. 0.14% 6,000 $1.0M Reduce -10.4%
XOM Exxon Mobil Corp. 0.13% 8,846 $952K Reduce -23.6%
PLD Prologis Inc. 0.13% 8,996 $951K Reduce -20.8%
RTX RTX Corp. 0.12% 7,962 $921K Reduce -4.7%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.11% 798 $841K No change
AXP American Express Co. 0.11% 2,775 $824K Reduce -59.5%
IBDRY Iberdrola SA-Sponsored ADR 0.11% 14,950 $824K Reduce -1.5%
DHLGY DHL AG - ADR filed as DEUTSCHE POST ADR 0.11% 23,129 $807K Reduce -22.2%
SPGI S&P Global Inc. 0.11% 1,600 $797K No change
VEOEY Veolia Environnement-ADR 0.11% 55,950 $786K Reduce -19.3%
KMI Kinder Morgan Inc. 0.10% 27,740 $760K Reduce -11.9%
DE Deere & Co. 0.10% 1,775 $752K No change
OKE Oneok Inc. 0.10% 7,129 $716K Reduce -4.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 3,144 $691K Reduce -13.8%
BRK.A Berkshire Hathaway Inc. Class A 0.09% 1 $681K No change
EMR Emerson Electric Co. 0.09% 5,150 $638K Reduce -25.9%
CB Chubb Ltd. 0.08% 2,105 $582K Reduce -30.4%
CAT Caterpillar Inc. 0.08% 1,533 $556K Reduce -93.6%
CVX Chevron Corp. 0.07% 3,687 $534K Reduce -46.9%
LIN Linde PLC 0.07% 1,250 $523K No change
STT State Street Corp. 0.07% 5,318 $522K Reduce -1.9%
AIG American International Group 0.07% 7,142 $520K No change
KMB Kimberly-Clark Corp. 0.07% 3,834 $502K Reduce -6.7%
PFE Pfizer Inc. 0.06% 17,957 $476K Reduce -58.7%
FMX Fomento Economico Mex-SP ADR 0.06% 5,400 $462K Reduce -17.6%
AB Alliancebernstein Holding LP 0.06% 12,125 $450K Reduce -9.0%
ABT Abbott Laboratories 0.06% 3,820 $432K Reduce -10.5%
DOC Healthpeak Properties Inc. 0.06% 21,215 $430K Reduce -52.6%
MET Metlife Inc. 0.06% 5,100 $418K Reduce -16.4%
BIPC Brookfield Infrastructure-A 0.05% 9,923 $397K Reduce -14.4%
WFC Wells Fargo & Co. 0.05% 5,233 $368K No change
LDOS Leidos Holdings Inc. 0.05% 2,320 $334K Reduce -48.7%
UBER Uber Technologies Inc. 0.04% 5,500 $332K No change
GPC Genuine Parts Co. 0.04% 2,780 $325K Reduce -11.2%
SYK Stryker Corp. 0.04% 900 $324K Reduce -33.3%
CVS CVS Health Corp. 0.04% 6,945 $312K Reduce -28.3%
APD Air Products & Chemicals Inc. 0.04% 1,050 $305K No change
SPOT Spotify Technology SA 0.04% 673 $301K No change
CCK Crown Holdings Inc. 0.04% 3,495 $289K Reduce -18.3%
EONGY E.on SE -Sponsored ADR filed as E ON AG 0.04% 24,350 $283K Reduce -37.7%
ITW Illinois Tool Works 0.04% 1,115 $283K No change
GLW Corning Inc. 0.04% 5,900 $280K No change
BA The Boeing Co. 0.04% 1,574 $279K No change
GE General Electric filed as GE AEROSPACE 0.04% 1,571 $262K Reduce -28.4%
MCK McKesson Corp. 0.03% 400 $228K No change
PRU Prudential Financial Inc. 0.03% 1,900 $225K Reduce -13.6%
SEG Seaport Entertainment Group 0.03% 8,052 $225K Add +0.1%
MMM 3M Co. 0.03% 1,713 $221K No change
NRG NRG Energy Inc. 0.03% 2,400 $217K No change
INTC Intel Corp. 0.03% 10,392 $208K Reduce -5.6%
BN Brookfield Corp. 0.03% 3,500 $201K No change

Portfolio Sells Q3 2024 → Q4 2024

NEE Nextera Energy Inc. Reduce -22.5% 3.78% −1.48
CAT Caterpillar Inc. Reduce -93.6% 0.08% −1.09
HR Healthcare Realty Trust Inc. Reduce -22.2% 2.86% −0.74
XIFR XPLR Infrastructure LP Reduce -12.8% 0.97% −0.61
AAPL Apple Inc. Reduce -29.6% 1.81% −0.38
KO The Coca-Cola Co. Reduce -7.4% 2.34% −0.33
CWEN Clearway Energy Inc. Class C Reduce -11.6% 1.46% −0.32
BSX Boston Scientific Corp. Reduce -29.1% 1.41% −0.30
NSRGY Nestle SA-Spons ADR Reduce -26.6% 0.39% −0.21
COST Costco Wholesale Corp. Reduce -63.6% 0.14% −0.21
KW Kennedy-Wilson Holdings Inc. Reduce -26.1% 0.55% −0.21
BRK.B Berkshire Hathaway Inc. Class B Reduce -47.9% 0.24% −0.19
TMO Thermo Fisher Scientific Inc. Reduce -26.1% 0.38% −0.18
MDLZ Mondelez International Inc. Class A Reduce -14.5% 0.54% −0.17
MSFT Microsoft Corp. Reduce -12.2% 2.66% −0.17
JNJ Johnson & Johnson Reduce -18.6% 0.63% −0.16
WY Weyerhaeuser Co. Reduce -17.0% 0.48% −0.16
LLY Eli Lilly & Co. Reduce -31.9% 0.27% −0.15
BUD Anheuser-Busch Inbev-SPN ADR Reduce -27.1% 0.19% −0.12
NVS Novartis AG-Sponsored ADR Reduce -18.6% 0.36% −0.12
AXP American Express Co. Reduce -59.5% 0.11% −0.12
MRK Merck & Co. Inc. Reduce -14.9% 0.48% −0.11
PG The Procter & Gamble Co. Reduce -23.7% 0.43% −0.10
UL Unilever PLC Reduce -22.6% 0.26% −0.09
PFE Pfizer Inc. Reduce -58.7% 0.06% −0.09
BNPQY BNP Paribas-ADR Sold out 0.00% −0.09
KKR KKR & Co. Inc. Reduce -25.7% 0.94% −0.08
BAESY Bae Systems PLC -Spon ADR Reduce -3.7% 0.79% −0.08
BIP Brookfield Infrastructure Pa Reduce -17.0% 0.37% −0.08
CCS Century Communities Inc. Reduce -16.0% 0.14% −0.08
RHHBY Roche Holdings Ltd.-Spons ADR Reduce -17.7% 0.27% −0.07
DTE DTE Energy Company Reduce -8.9% 1.00% −0.07
DOC Healthpeak Properties Inc. Reduce -52.6% 0.06% −0.07
NGG National Grid PLC-SP ADR Reduce -13.0% 0.28% −0.07
PEP Pepsico Inc. Reduce -16.3% 0.29% −0.07
MCD McDonald's Corp. Sold out 0.00% −0.06
SCHW Schwab (charles) Corp. Sold out 0.00% −0.06
IWF iShares Russell 1000 Growth Sold out 0.00% −0.06
DHLGY DHL AG - ADR Reduce -22.2% 0.11% −0.05
CVX Chevron Corp. Reduce -46.9% 0.07% −0.05
BX Blackstone Inc. Reduce -24.7% 0.67% −0.05
MDY State Street SPDR S&P Midcap Sold out 0.00% −0.05
PLD Prologis Inc. Reduce -20.8% 0.13% −0.05
SIEGY Siemens AG-Spons ADR Reduce -19.3% 0.26% −0.05
XRAY Dentsply Sirona Inc. Sold out 0.00% −0.05
LDOS Leidos Holdings Inc. Reduce -48.7% 0.05% −0.05
IWN iShares Russell 2000 Value E Sold out 0.00% −0.04
XOM Exxon Mobil Corp. Reduce -23.6% 0.13% −0.04
SHEL Shell PLC-ADR Sold out 0.00% −0.04
VEOEY Veolia Environnement-ADR Reduce -19.3% 0.11% −0.04

Portfolio Buys Q3 2024 → Q4 2024

LNG Cheniere Energy Inc. Add +42.1% 3.46% +1.59
PCG P G & E Corp. Add +17.5% 1.21% +0.29
PPL PPL Corp. Add +29.8% 0.81% +0.23
DUOL Duolingo Add +204.9% 0.28% +0.21
CNP Centerpoint Energy Inc. Add +0.6% 1.09% +0.17
UNP Union Pacific Corp. Add +12.7% 0.27% +0.03
SEG Seaport Entertainment Group Add +0.1% 0.03% +0.00

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