BEACH INVESTMENT COUNSEL INC PA's Q3 2023 13F: 8 new positions, 13 exits
Form 13F-HR for the quarter ended Sep 30, 2023 · filed Oct 24, 2023 · 151 reported positions · accession 0001058800-23-000004
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Howard Hughes Corp. (HHC) | 3.7% | — | −3.7 pts | −394K sh | −100% |
| Exited | Magellan Midstream Partners, L (MMP) | 3.5% | — | −3.5 pts | −474K sh | −100% |
| New |
Howard Hughes Holdings (HHH)
new — newly listed security (e.g. spin-off)
|
— | 3.4% | +3.4 pts | +367K sh | new |
| New | Oneok Inc. (OKE) | — | 2.1% | +2.1 pts | +263K sh | new |
| Increased | Apollo Global Management (APO) | 0.7% | 2.6% | +1.9 pts | +154K sh | +194% |
| Exited | Pulte Homes Inc. (PHM) | 1.0% | — | −1.0 pts | −111K sh | −100% |
| Increased | Schlumberger (SLB) | 0.5% | 1.4% | +1.0 pts | +115K sh | +136% |
| Increased | Alphabet, Inc. Cl A (GOOGL) | 1.5% | 2.5% | +1.0 pts | +47,454 sh | +45% |
| Increased | Shell PLC ADR (SHEL) | 0.8% | 1.6% | +0.9 pts | +96,328 sh | +90% |
| Reduced | PNC Bank Corp. (PNC) | 1.2% | 0.5% | −0.7 pts | −49,751 sh | −62% |
| New | Occidental Petroleum (OXY) | — | 0.8% | +0.8 pts | +93,044 sh | new |
| New | Pioneer Natural Resources (PXD) | — | 0.7% | +0.7 pts | +26,088 sh | new |
| New | EOG Res Inc (EOG) | — | 0.7% | +0.7 pts | +46,088 sh | new |
| Exited | Fifth Third Bancorp (FITB) | 0.7% | — | −0.7 pts | −225K sh | −100% |
| Exited | T-Mobile US, Inc. (TMUS) | 0.7% | — | −0.7 pts | −41,853 sh | −100% |
| Reduced | Bank of America (BAC) | 0.8% | 0.3% | −0.5 pts | −146K sh | −61% |
| Increased | Healthcare Realty (HR) | 1.0% | 1.3% | +0.3 pts | +225K sh | +49% |
| Exited | Vornado Realty Pr O (VNOPRO) | 0.4% | — | −0.4 pts | −227K sh | −100% |
| Reduced | Freeport McMoran Inc. (FCX) | 0.7% | 0.4% | −0.4 pts | −72,879 sh | −47% |
| Reduced | Fedex (FDX) | 0.8% | 0.6% | −0.2 pts | −8,617 sh | −32% |
| Increased | Chevron (CVX) | 0.6% | 1.0% | +0.4 pts | +13,359 sh | +40% |
| Reduced | Crown Holdings Inc . (CCK) | 0.3% | 0.1% | −0.2 pts | −24,325 sh | −74% |
| Reduced | Century Communities, Inc. (CCS) | 0.6% | 0.3% | −0.3 pts | −31,898 sh | −47% |
| Reduced | Raytheon Technologies (RTX) | 0.4% | 0.1% | −0.3 pts | −25,282 sh | −71% |
| Increased | Healthpeak Properties (PEAK) | 0.4% | 0.5% | +0.1 pts | +52,760 sh | +31% |
| Exited | Verizon Comm (VZ) | 0.1% | — | −0.1 pts | −26,594 sh | −100% |
| Reduced | Apple Computer (AAPL) | 2.9% | 2.6% | −0.3 pts | −5,420 sh | −4% |
| Increased | KKR & Co. Inc. (KKR) | 0.5% | 0.7% | +0.2 pts | +13,200 sh | +17% |
| Increased | Berkshire Hathaway B (BRK-B) | 0.7% | 0.8% | +0.1 pts | +2,050 sh | +12% |
| Increased | Siemens AG ADR (SIEGY) | 0.5% | 0.5% | 0.0 pts | +9,303 sh | +20% |
| Exited | AT&T (T) | 0.1% | — | −0.1 pts | −41,293 sh | −100% |
| Increased | Automatic Data Processing (ADP) | 0.4% | 0.5% | +0.1 pts | +2,596 sh | +19% |
| Increased | Thermo Fisher Scientific (TMO) | 0.6% | 0.7% | +0.1 pts | +1,220 sh | +12% |
| Increased | Procter & Gamble (PG) | 0.8% | 0.8% | +0.1 pts | +3,637 sh | +9% |
| Increased | Nestle Spons ADR (NSRGY) | 2.3% | 2.3% | 0.0 pts | +4,283 sh | +3% |
| Increased | Johnson & Johnson (JNJ) | 1.1% | 1.1% | 0.0 pts | +3,086 sh | +6% |
| Increased | J.P. Morgan Chase (JPM) | 1.9% | 2.0% | +0.1 pts | +3,313 sh | +3% |
| Increased | Pepsico (PEP) | 0.5% | 0.5% | 0.0 pts | +2,769 sh | +12% |
| Increased | Enterprise Prod Partners (EPD) | 7.4% | 8.1% | +0.7 pts | +15,776 sh | +1% |
| Increased | Microsoft (MSFT) | 1.5% | 1.5% | 0.0 pts | +1,199 sh | +3% |
| Increased | Linde PLC (LIN) | 0.1% | 0.2% | 0.0 pts | +1,000 sh | +44% |
| Increased | Merck (MRK) | 0.8% | 0.8% | 0.0 pts | +3,583 sh | +6% |
| Increased | Amazon.com Inc. (AMZN) | 1.6% | 1.7% | +0.1 pts | +2,789 sh | +3% |
| Increased | Genuine Parts (GPC) | 0.1% | 0.1% | 0.0 pts | +2,335 sh | +41% |
| Increased | CVS Health Corp (CVS) | 0.3% | 0.3% | +0.1 pts | +4,403 sh | +13% |
| New | Phillips 66 (PSX) | — | 0.0% | 0.0 pts | +2,510 sh | new |
| New | Murphy USA (MUSA) | — | 0.0% | 0.0 pts | +868 sh | new |
| Increased | American Intl. Group (AIG) | 0.1% | 0.1% | 0.0 pts | +4,806 sh | +40% |
| New | Brookfield Corp. (BN) | — | 0.0% | 0.0 pts | +9,200 sh | new |
| Increased | BAE Systems PLC Sponsored ADR (BAESY) | 1.2% | 1.3% | +0.1 pts | +5,741 sh | +3% |
The 50 largest of 119 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:
- CRH plc ADR (CRH): 12626K203 → G25508105, 55,924 → 166K shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 37.7% of the equity book
Changes in the top 10 this quarter: HHH entered · APO entered · GOOGL entered · HHC left · MMP left · NEE left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Enterprise Prod Partners (EPD) | 7.4% | 8.1% | |
| 2 | Energy Transfer LP (ET) | 4.5% | 5.2% | |
| 3 | NextEra Energy Partners (XIFR) | 9.1% | 4.8% | |
| 4 | Howard Hughes Holdings (HHH) | 0.0% | 3.4% | Entered the top 10 |
| 5 | MPLX LP (MPLX) | 3.1% | 3.4% | |
| 6 | Kennedy-Wilson Holdings Inc. (KW) | 2.9% | 2.7% | |
| 7 | Apollo Global Management (APO) | 0.7% | 2.6% | Entered the top 10 |
| 8 | Apple Computer (AAPL) | 2.9% | 2.6% | |
| 9 | Alphabet, Inc. Cl A (GOOGL) | 1.5% | 2.5% | Entered the top 10 |
| 10 | Nestle Spons ADR (NSRGY) | 2.3% | 2.3% | |
| — | Howard Hughes Corp. (HHC) | 3.7% | 0.0% | Left the top 10 |
| — | Magellan Midstream Partners, L (MMP) | 3.5% | 0.0% | Left the top 10 |
| — | NextEra Energy, Inc. (NEE) | 2.3% | 1.9% | 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).