BEACH INVESTMENT COUNSEL INC PA's Q4 2024 13F: 100 exits
Form 13F-HR for the quarter ended Dec 31, 2024 · filed Jan 27, 2025 · 120 reported positions · accession 0001058800-25-000001
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | Caterpillar (CAT) | 1.2% | 0.1% | −1.1 pts | −22,486 sh | −94% |
| Reduced | NextEra Energy, Inc. (NEE) | 5.3% | 3.8% | −1.5 pts | −113K sh | −22% |
| Increased | Cheniere Energy Inc (LNG) | 1.9% | 3.5% | +1.6 pts | +35,242 sh | +42% |
| Reduced | Healthcare Realty (HR) | 3.6% | 2.9% | −0.7 pts | −357K sh | −22% |
| Reduced | Apple Computer (AAPL) | 2.2% | 1.8% | −0.4 pts | −22,515 sh | −30% |
| Reduced | Vistra Energy Corp (VST) | 5.2% | 5.9% | +0.7 pts | −38,070 sh | −11% |
| Reduced | Alphabet, Inc. Cl A (GOOGL) | 4.0% | 4.3% | +0.3 pts | −25,568 sh | −13% |
| Reduced | Boston Scientific (BSX) | 1.7% | 1.4% | −0.3 pts | −47,946 sh | −29% |
| Reduced | Amazon.com Inc. (AMZN) | 4.4% | 5.2% | +0.8 pts | −16,050 sh | −8% |
| Reduced | Apollo Global Mgmt. (APO) | 2.4% | 3.1% | +0.7 pts | −16,891 sh | −11% |
| Reduced | Microsoft (MSFT) | 2.8% | 2.7% | −0.2 pts | −6,494 sh | −12% |
| Reduced | J.P. Morgan Chase (JPM) | 2.4% | 2.7% | +0.3 pts | −10,158 sh | −11% |
| Reduced | KKR & Co. Inc. (KKR) | 1.0% | 0.9% | −0.1 pts | −16,300 sh | −26% |
| Reduced | Energy Transfer LP (ET) | 5.7% | 7.3% | +1.6 pts | −117K sh | −4% |
| Reduced | Costco Wholesale (COST) | 0.4% | 0.1% | −0.2 pts | −2,038 sh | −64% |
| Reduced | Enterprise Prod Partners (EPD) | 7.7% | 8.8% | +1.1 pts | −58,212 sh | −3% |
| Reduced | Meta Platforms, Inc. (META) | 2.3% | 2.3% | 0.0 pts | −2,962 sh | −9% |
| Reduced | Berkshire Hathaway B (BRK-B) | 0.4% | 0.2% | −0.2 pts | −3,611 sh | −48% |
| Reduced | Blackstone Inc. (BX) | 0.7% | 0.7% | −0.1 pts | −9,480 sh | −25% |
| Reduced | Kennedy-Wilson Holdings Inc. (KW) | 0.8% | 0.6% | −0.2 pts | −145K sh | −26% |
| Reduced | Clearway Energy, Inc. (CWEN) | 1.8% | 1.5% | −0.3 pts | −54,499 sh | −12% |
| Increased | Duolingo, Inc Class A (DUOL) | 0.1% | 0.3% | +0.2 pts | +4,269 sh | +205% |
| Reduced | Coca Cola Co. (KO) | 2.7% | 2.3% | −0.3 pts | −22,197 sh | −7% |
| Increased | PPL Corporation (PPL) | 0.6% | 0.8% | +0.2 pts | +42,229 sh | +30% |
| Increased | PG&E Corp. (PCG) | 0.9% | 1.2% | +0.3 pts | +66,112 sh | +17% |
| Reduced | American Express (AXP) | 0.2% | 0.1% | −0.1 pts | −4,085 sh | −60% |
| Reduced | Johnson & Johnson (JNJ) | 0.8% | 0.6% | −0.2 pts | −7,406 sh | −19% |
| Reduced | NextEra Energy Partners (XIFR) | 1.6% | 1.0% | −0.6 pts | −59,379 sh | −13% |
| Reduced | Nestle Spons ADR (NSRGY) | 0.6% | 0.4% | −0.2 pts | −12,702 sh | −27% |
| Reduced | Procter & Gamble (PG) | 0.5% | 0.4% | −0.1 pts | −5,895 sh | −24% |
| Reduced | Thermo Fisher Scientific (TMO) | 0.6% | 0.4% | −0.2 pts | −1,885 sh | −26% |
| Reduced | Alphabet, Inc. Cl C (GOOG) | 0.5% | 0.5% | 0.0 pts | −5,030 sh | −21% |
| Reduced | Eli Lilly (LLY) | 0.4% | 0.3% | −0.1 pts | −1,220 sh | −32% |
| Reduced | Howard Hughes Holdings (HHH) | 1.1% | 1.1% | 0.0 pts | −10,886 sh | −9% |
| Reduced | Weyerhaeuser (WY) | 0.6% | 0.5% | −0.2 pts | −25,865 sh | −17% |
| Reduced | DTE Energy (DTE) | 1.1% | 1.0% | −0.1 pts | −6,003 sh | −9% |
| Reduced | Bank of America (BAC) | 1.0% | 1.2% | +0.1 pts | −15,554 sh | −7% |
| Reduced | Pfizer (PFE) | 0.2% | 0.1% | −0.1 pts | −25,560 sh | −59% |
| Reduced | Mondelez Internat Inc. (MDLZ) | 0.7% | 0.5% | −0.2 pts | −11,279 sh | −15% |
| Exited | BNP Paribas ADR (BNPQY) | 0.1% | — | −0.1 pts | −21,400 sh | −100% |
| Reduced | CRH plc ADR (CRH) | 2.0% | 2.1% | +0.1 pts | −7,223 sh | −4% |
| Reduced | Merck (MRK) | 0.6% | 0.5% | −0.1 pts | −6,198 sh | −15% |
| Reduced | Novartis (NVS) | 0.5% | 0.4% | −0.1 pts | −6,276 sh | −19% |
| Reduced | Unilever PLC (UL) | 0.4% | 0.3% | −0.1 pts | −10,089 sh | −23% |
| Reduced | Brookfield Infrastructure Part (BIP) | 0.5% | 0.4% | −0.1 pts | −17,725 sh | −17% |
| Reduced | Walt Disney (DIS) | 0.2% | 0.2% | 0.0 pts | −4,861 sh | −26% |
| Reduced | Citigroup (C) | 1.9% | 2.3% | +0.4 pts | −7,614 sh | −3% |
| Reduced | Anheuser-Busch InBev SA/NV (BUD) | 0.3% | 0.2% | −0.1 pts | −10,250 sh | −27% |
| Reduced | MPLX LP (MPLX) | 4.8% | 5.6% | +0.8 pts | −9,977 sh | −1% |
| Reduced | HealthPeak Properties (PEAK) | 0.1% | 0.1% | −0.1 pts | −23,530 sh | −53% |
The 50 largest of 199 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:
- Brookfield Infrastructure Clas (BIPC): 11275Q107 → 11276H106, 11,594 → 9,923 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 50.4% of the equity book
Changes in the top 10 this quarter: LNG entered · APO entered · MSFT left · KO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Enterprise Prod Partners (EPD) | 7.7% | 8.8% | |
| 2 | Energy Transfer LP (ET) | 5.7% | 7.3% | |
| 3 | Vistra Energy Corp (VST) | 5.2% | 5.9% | |
| 4 | MPLX LP (MPLX) | 4.8% | 5.6% | |
| 5 | Amazon.com Inc. (AMZN) | 4.4% | 5.2% | |
| 6 | Alphabet, Inc. Cl A (GOOGL) | 4.0% | 4.3% | |
| 7 | NextEra Energy, Inc. (NEE) | 5.3% | 3.8% | |
| 8 | Cheniere Energy Inc (LNG) | 1.9% | 3.5% | Entered the top 10 |
| 9 | Apollo Global Mgmt. (APO) | 2.4% | 3.1% | Entered the top 10 |
| 10 | Healthcare Realty (HR) | 3.6% | 2.9% | |
| — | Microsoft (MSFT) | 2.8% | 2.7% | Left the top 10 |
| — | Coca Cola Co. (KO) | 2.7% | 2.3% | 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).