BEACH INVESTMENT COUNSEL INC PA's Q2 2023 13F: 13 new positions, 10 exits
Form 13F-HR for the quarter ended Jun 30, 2023 · filed Jul 20, 2023 · 155 reported positions · accession 0001058800-23-000003
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | Alphabet, Inc. Cl A (GOOGL) | 0.1% | 1.5% | +1.4 pts | +97,511 sh | +1389% |
| Increased | Microsoft (MSFT) | 0.2% | 1.5% | +1.3 pts | +31,815 sh | +556% |
| Increased | Amazon.com Inc. (AMZN) | 0.3% | 1.6% | +1.3 pts | +78,900 sh | +330% |
| New | Healthcare Realty (HR) | — | 1.0% | +1.0 pts | +455K sh | new |
| Increased | PNC Bank Corp. (PNC) | 0.3% | 1.2% | +0.9 pts | +60,842 sh | +307% |
| Increased | Pulte Homes Inc. (PHM) | 0.1% | 1.0% | +0.9 pts | +96,449 sh | +678% |
| Reduced | Crown Holdings Inc . (CCK) | 1.3% | 0.3% | −0.9 pts | −82,076 sh | −71% |
| New | Annaly Capital Pr F (NLYPRF) | — | 0.8% | +0.8 pts | +251K sh | new |
| New | PG&E Corp. (PCG) | — | 0.8% | +0.8 pts | +367K sh | new |
| New | Apollo Global Management (APO) | — | 0.7% | +0.7 pts | +79,138 sh | new |
| New | Fifth Third Bancorp (FITB) | — | 0.7% | +0.7 pts | +225K sh | new |
| Reduced | Schlumberger (SLB) | 1.3% | 0.5% | −0.8 pts | −118K sh | −58% |
| New | Hersha Hospitality Pr E (HTPRE) | — | 0.7% | +0.7 pts | +286K sh | new |
| Exited | Netflix, Inc. (NFLX) | 0.6% | — | −0.6 pts | −13,531 sh | −100% |
| Increased | J.P. Morgan Chase (JPM) | 1.3% | 1.9% | +0.6 pts | +34,355 sh | +47% |
| Reduced | T-Mobile US, Inc. (TMUS) | 1.5% | 0.7% | −0.8 pts | −33,517 sh | −44% |
| New | Site Centers Pr A (SITCPRA) | — | 0.5% | +0.5 pts | +179K sh | new |
| Reduced | Vistra Energy Corp (VST) | 2.1% | 1.5% | −0.6 pts | −163K sh | −25% |
| Increased | Kennedy-Wilson Holdings Inc. (KW) | 2.7% | 2.9% | +0.2 pts | +248K sh | +20% |
| Reduced | BAE Systems PLC Sponsored ADR (BAESY) | 1.9% | 1.2% | −0.7 pts | −76,858 sh | −27% |
| Increased | Century Communities, Inc. (CCS) | 0.2% | 0.6% | +0.4 pts | +46,782 sh | +225% |
| Reduced | Freeport McMoran Inc. (FCX) | 1.3% | 0.7% | −0.6 pts | −82,531 sh | −35% |
| Reduced | Chevron (CVX) | 1.2% | 0.6% | −0.6 pts | −20,868 sh | −38% |
| New | Spirit Realty Pr A (SRCPRA) | — | 0.4% | +0.4 pts | +141K sh | new |
| New | CRH plc ADR (CRH) | — | 0.4% | +0.4 pts | +55,924 sh | new |
| New | Vornado Realty Pr O (VNOPRO) | — | 0.4% | +0.4 pts | +227K sh | new |
| Increased | Nestle Spons ADR (NSRGY) | 2.3% | 2.3% | 0.0 pts | +17,576 sh | +12% |
| Increased | Coca Cola Co. (KO) | 1.6% | 1.6% | 0.0 pts | +27,622 sh | +14% |
| Increased | Ameren Corp (AEE) | 1.0% | 1.1% | 0.0 pts | +20,079 sh | +22% |
| Increased | XCEL Energy Inc. (XEL) | 1.1% | 1.1% | 0.0 pts | +26,273 sh | +21% |
| Increased | Mondelez International Inc. (MDLZ) | 1.9% | 1.9% | 0.0 pts | +16,782 sh | +8% |
| Exited | Truist Financial Corporation (TFC) | 0.1% | — | −0.1 pts | −31,612 sh | −100% |
| Reduced | Bank of America (BAC) | 1.0% | 0.8% | −0.2 pts | −32,713 sh | −12% |
| Reduced | Apple Computer (AAPL) | 2.8% | 2.9% | 0.0 pts | −4,340 sh | −3% |
| Increased | Shell PLC ADR (SHEL) | 0.7% | 0.8% | 0.0 pts | +11,088 sh | +12% |
| Reduced | Stryker Corp (SYK) | 0.5% | 0.4% | −0.1 pts | −2,000 sh | −16% |
| Reduced | NextEra Energy Partners (XIFR) | 10.6% | 9.1% | −1.5 pts | −8,675 sh | −1% |
| Reduced | Enterprise Prod Partners (EPD) | 8.2% | 7.4% | −0.8 pts | −17,255 sh | −1% |
| Reduced | Plains GP Holdings LP (PAGP) | 0.3% | 0.2% | −0.1 pts | −30,386 sh | −19% |
| Reduced | Fedex (FDX) | 0.9% | 0.8% | −0.1 pts | −1,668 sh | −6% |
| Reduced | Magellan Midstream Partners, L (MMP) | 3.5% | 3.5% | 0.0 pts | −6,179 sh | −1% |
| Exited | Bel Fuse Inc- Cl B (BELFB) | 0.0% | — | 0.0 pts | −6,555 sh | −100% |
| Increased | Healthpeak Properties (PEAK) | 0.5% | 0.4% | −0.1 pts | +13,650 sh | +9% |
| New | Vornado Realty Pr L (VNOPRL) | — | 0.0% | 0.0 pts | +17,559 sh | new |
| Exited | Crown Castle Intl. (CCI) | 0.0% | — | 0.0 pts | −1,675 sh | −100% |
| Exited | Phillips 66 (PSX) | 0.0% | — | 0.0 pts | −2,160 sh | −100% |
| Exited | Wal-Mart Stores (WMT) | 0.0% | — | 0.0 pts | −1,453 sh | −100% |
| New | Uber Technologies, Inc. (UBER) | — | 0.0% | 0.0 pts | +5,500 sh | new |
| Exited | Boswell J G Co. (BWEL) | 0.0% | — | 0.0 pts | −300 sh | −100% |
| Exited | Brookfield Renewable Partners (BEP) | 0.0% | — | 0.0 pts | −6,450 sh | −100% |
The 50 largest of 112 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
* Prior share counts adjusted or corrected for a stock split — changes are measured from the adjusted count:
- Veolia Environnement ADR (VEOEY): 54,713 shares as filed last quarter, 109K after adjustment → 105K now (prior share count adjusted for a stock split)
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- Thomason Reuters (TRI): 884903709 → 884903808, 3,354 → 3,231 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 41.6% of the equity book
No changes in the top 10 this quarter
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NextEra Energy Partners (XIFR) | 10.6% | 9.1% | |
| 2 | Enterprise Prod Partners (EPD) | 8.2% | 7.4% | |
| 3 | Energy Transfer LP (ET) | 5.0% | 4.5% | |
| 4 | Howard Hughes Corp. (HHC) | 4.2% | 3.7% | |
| 5 | Magellan Midstream Partners, L (MMP) | 3.5% | 3.5% | |
| 6 | MPLX LP (MPLX) | 3.5% | 3.1% | |
| 7 | Apple Computer (AAPL) | 2.8% | 2.9% | |
| 8 | Kennedy-Wilson Holdings Inc. (KW) | 2.7% | 2.9% | |
| 9 | NextEra Energy, Inc. (NEE) | 2.8% | 2.3% | |
| 10 | Nestle Spons ADR (NSRGY) | 2.3% | 2.3% |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).