BEACH INVESTMENT COUNSEL INC PA's Q1 2023 13F: 8 new positions, 10 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed Apr 21, 2023 · 152 reported positions · accession 0001058800-23-000002
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Schlumberger (SLB) | 2.7% | 1.3% | −1.4 pts | −204K sh | −50% |
| Reduced | Freeport McMoran Inc. (FCX) | 2.3% | 1.3% | −1.0 pts | −238K sh | −50% |
| Reduced | UnitedHealth Group (UNH) | 1.3% | 0.2% | −1.1 pts | −17,018 sh | −84% |
| Reduced | Chevron (CVX) | 2.2% | 1.2% | −1.0 pts | −43,066 sh | −44% |
| Increased | MasterCard Inc. (MA) | 0.7% | 1.5% | +0.8 pts | +15,793 sh | +101% |
| Reduced | Johnson & Johnson (JNJ) | 2.0% | 1.2% | −0.9 pts | −35,031 sh | −38% |
| Reduced | Chubb Ltd. (CB) | 0.8% | 0.1% | −0.7 pts | −26,840 sh | −87% |
| Reduced | Shell PLC ADR (SHEL) | 1.3% | 0.7% | −0.6 pts | −86,899 sh | −48% |
| New | Netflix, Inc. (NFLX) | — | 0.6% | +0.6 pts | +13,531 sh | new |
| Reduced | Northrup Grumman (NOC) | 0.7% | 0.1% | −0.7 pts | −9,552 sh | −91% |
| New | Public Storage Pr P (PSAPRP) | — | 0.6% | +0.6 pts | +236K sh | new |
| Increased | Fedex (FDX) | 0.2% | 0.9% | +0.6 pts | +18,265 sh | +178% |
| Exited | National Fuel Gas Co. (NFG) | 0.4% | — | −0.4 pts | −56,137 sh | −100% |
| Exited | Enviva Partners LP (EVVAQ) | 0.4% | — | −0.4 pts | −66,850 sh | −100% |
| Reduced | Caterpillar (CAT) | 0.5% | 0.1% | −0.4 pts | −13,441 sh | −89% |
| Increased | Bank of America (BAC) | 0.7% | 1.0% | +0.3 pts | +93,974 sh | +52% |
| New | Engie SA ADR (ENGIY) | — | 0.4% | +0.4 pts | +167K sh | new |
| Exited | Charter Communications, Inc. (CHTR) | 0.3% | — | −0.3 pts | −6,588 sh | −100% |
| Exited | Flushing Financial (FFIC) | 0.3% | — | −0.3 pts | −114K sh | −100% |
| Increased | Visa (V) | 0.9% | 1.3% | +0.4 pts | +8,194 sh | +23% |
| Exited | SVB Financial Group (SIVBQ) | 0.2% | — | −0.2 pts | −8,345 sh | −100% |
| Reduced | Berkshire Hathaway B (BRK-B) | 0.9% | 0.7% | −0.2 pts | −5,432 sh | −24% |
| Reduced | J.P. Morgan Chase (JPM) | 1.4% | 1.3% | −0.2 pts | −12,536 sh | −15% |
| Increased | UBS Group AG (UBS) | 0.0% | 0.2% | +0.2 pts | +73,746 sh | +581% |
| Reduced | Emerson Electric Co. (EMR) | 0.3% | 0.1% | −0.2 pts | −16,411 sh | −59% |
| Increased | MPLX LP (MPLX) | 3.0% | 3.5% | +0.5 pts | +38,844 sh | +5% |
| Reduced | PNC Bank Corp. (PNC) | 0.6% | 0.3% | −0.3 pts | −10,087 sh | −34% |
| Increased | Energy Transfer LP (ET) | 4.3% | 5.0% | +0.7 pts | +102K sh | +4% |
| Reduced | Apple Computer (AAPL) | 2.2% | 2.8% | +0.6 pts | −7,245 sh | −5% |
| New | Pulte Homes Inc. (PHM) | — | 0.1% | +0.1 pts | +14,222 sh | new |
| Reduced | Pfizer (PFE) | 0.9% | 0.6% | −0.2 pts | −16,000 sh | −12% |
| Reduced | Truist Financial Corporation (TFC) | 0.2% | 0.1% | −0.1 pts | −11,940 sh | −27% |
| Reduced | T-Mobile US, Inc. (TMUS) | 1.4% | 1.5% | +0.1 pts | −2,745 sh | −4% |
| Reduced | Nestle Spons ADR (NSRGY) | 2.1% | 2.3% | +0.2 pts | −3,135 sh | −2% |
| Reduced | Verizon Comm (VZ) | 0.2% | 0.1% | 0.0 pts | −9,730 sh | −26% |
| Increased | NextEra Energy Partners (XIFR) | 11.4% | 10.6% | −0.8 pts | +5,970 sh | 0% |
| Reduced | Thermo Fisher Scientific (TMO) | 0.7% | 0.8% | 0.0 pts | −625 sh | −6% |
| Reduced | Novartis (NVS) | 0.5% | 0.5% | 0.0 pts | −3,300 sh | −8% |
| Exited | Colgate Palmolive (CL) | 0.0% | — | 0.0 pts | −3,957 sh | −100% |
| Exited | iShares Russell 3000 ETF (IWV) | 0.0% | — | 0.0 pts | −1,397 sh | −100% |
| Reduced | NextEra Energy, Inc. (NEE) | 2.8% | 2.8% | −0.1 pts | −3,617 sh | −1% |
| Increased | Century Communities, Inc. (CCS) | 0.1% | 0.2% | +0.1 pts | +4,264 sh | +26% |
| Reduced | Becton Dickinson (BDX) | 0.1% | 0.1% | 0.0 pts | −1,100 sh | −40% |
| Reduced | 3M Company (MMM) | 0.1% | 0.1% | 0.0 pts | −2,460 sh | −28% |
| Reduced | Fomento Economico Mexicano SA (FMX) | 0.1% | 0.2% | 0.0 pts | −2,300 sh | −16% |
| Reduced | Procter & Gamble (PG) | 0.8% | 0.9% | 0.0 pts | −1,460 sh | −3% |
| Exited | Prudential Financial Inc (PRU) | 0.0% | — | 0.0 pts | −2,200 sh | −100% |
| Reduced | Cisco Systems (CSCO) | 0.3% | 0.3% | 0.0 pts | −3,900 sh | −7% |
| New | Brookfield Renewable Partners (BEP) | — | 0.0% | 0.0 pts | +6,450 sh | new |
| New | Accenture PLC (ACN) | — | 0.0% | 0.0 pts | +700 sh | new |
The 50 largest of 97 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- Linde PLC (LIN): G5494J103 → G54950103, 2,250 → 2,250 shares
Top 10 positions — 45.6% of the equity book
Changes in the top 10 this quarter: AAPL entered · NSRGY entered · SLB left · FCX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NextEra Energy Partners (XIFR) | 11.4% | 10.6% | |
| 2 | Enterprise Prod Partners (EPD) | 7.2% | 8.2% | |
| 3 | Energy Transfer LP (ET) | 4.3% | 5.0% | |
| 4 | Howard Hughes Corp. (HHC) | 3.8% | 4.2% | |
| 5 | MPLX LP (MPLX) | 3.0% | 3.5% | |
| 6 | Magellan Midstream Partners, L (MMP) | 3.0% | 3.5% | |
| 7 | Apple Computer (AAPL) | 2.2% | 2.8% | Entered the top 10 |
| 8 | NextEra Energy, Inc. (NEE) | 2.8% | 2.8% | |
| 9 | Kennedy-Wilson Holdings Inc. (KW) | 2.4% | 2.7% | |
| 10 | Nestle Spons ADR (NSRGY) | 2.1% | 2.3% | Entered the top 10 |
| — | Schlumberger (SLB) | 2.7% | 1.3% | Left the top 10 |
| — | Freeport McMoran Inc. (FCX) | 2.3% | 1.3% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).