BEACH INVESTMENT COUNSEL INC PA's Q1 2025 13F: 7 new positions, 10 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed Apr 14, 2025 · 117 reported positions · accession 0001058800-25-000002
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | Boston Scientific (BSX) | 1.4% | — | −1.4 pts | −117K sh | −100% |
| Increased | Bank of America (BAC) | 1.2% | 2.3% | +1.1 pts | +174K sh | +88% |
| Reduced | Apollo Global Mgmt. (APO) | 3.1% | 1.8% | −1.3 pts | −51,381 sh | −37% |
| Reduced | CRH plc ADR (CRH) | 2.1% | 1.5% | −0.6 pts | −52,522 sh | −31% |
| Reduced | Vistra Energy Corp (VST) | 5.9% | 4.9% | −1.0 pts | −34,912 sh | −11% |
| Reduced | XPLR Infrastructure, LP (XIFR) | 1.0% | 0.0% | −0.9 pts | −378K sh | −94% |
| Reduced | Amazon.com Inc. (AMZN) | 5.2% | 4.5% | −0.8 pts | −17,624 sh | −10% |
| Increased | Mondelez Internat Inc. (MDLZ) | 0.5% | 1.1% | +0.6 pts | +47,723 sh | +72% |
| Reduced | NextEra Energy, Inc. (NEE) | 3.8% | 3.6% | −0.1 pts | −41,471 sh | −11% |
| Reduced | Citigroup (C) | 2.3% | 2.1% | −0.2 pts | −38,548 sh | −16% |
| Reduced | J.P. Morgan Chase (JPM) | 2.7% | 2.6% | −0.1 pts | −10,336 sh | −13% |
| Reduced | Healthcare Realty (HR) | 2.9% | 2.8% | −0.1 pts | −140K sh | −11% |
| Reduced | Coca Cola Co. (KO) | 2.3% | 2.6% | +0.2 pts | −32,917 sh | −12% |
| Increased | PG&E Corp. (PCG) | 1.2% | 1.5% | +0.2 pts | +130K sh | +29% |
| Reduced | Alphabet, Inc. Cl A (GOOGL) | 4.3% | 3.5% | −0.8 pts | −13,751 sh | −8% |
| Exited | Duolingo, Inc Class A (DUOL) | 0.3% | — | −0.3 pts | −6,352 sh | −100% |
| Reduced | Enterprise Prod Partners (EPD) | 8.8% | 10.2% | +1.4 pts | −54,180 sh | −3% |
| Reduced | Nvidia Corporation (NVDA) | 0.5% | 0.2% | −0.3 pts | −16,553 sh | −56% |
| New | Newmont Corporation (NEM) | — | 0.2% | +0.2 pts | +34,535 sh | new |
| New | Brandywine Realty (BDN) | — | 0.2% | +0.2 pts | +370K sh | new |
| Reduced | Energy Transfer LP (ET) | 7.3% | 7.3% | 0.0 pts | −84,657 sh | −3% |
| New | Perrigo Co. PLC (PRGO) | — | 0.2% | +0.2 pts | +54,428 sh | new |
| Reduced | Kennedy-Wilson Holdings Inc. (KW) | 0.6% | 0.3% | −0.2 pts | −170K sh | −41% |
| Reduced | CenterPoint Energy, Inc. (CNP) | 1.1% | 1.1% | +0.1 pts | −38,136 sh | −15% |
| Reduced | Microsoft (MSFT) | 2.7% | 2.4% | −0.3 pts | −3,302 sh | −7% |
| Reduced | MPLX LP (MPLX) | 5.6% | 6.7% | +1.1 pts | −20,446 sh | −2% |
| Exited | Century Communities (CCS) | 0.1% | — | −0.1 pts | −14,587 sh | −100% |
| New | United Overseas Bank Limited A (UOVEY) | — | 0.1% | +0.1 pts | +17,105 sh | new |
| Reduced | Walt Disney (DIS) | 0.2% | 0.1% | −0.1 pts | −9,299 sh | −69% |
| Increased | PPL Corporation (PPL) | 0.8% | 1.1% | +0.3 pts | +23,138 sh | +13% |
| Exited | Deutsche Post DHL Group ADR (DHLGY) | 0.1% | — | −0.1 pts | −23,129 sh | −100% |
| Reduced | Cheniere Energy Inc (LNG) | 3.5% | 3.9% | +0.5 pts | −3,096 sh | −3% |
| Increased | Howard Hughes Holdings (HHH) | 1.1% | 1.2% | +0.1 pts | +6,326 sh | +6% |
| Reduced | Apple Computer (AAPL) | 1.8% | 1.7% | −0.1 pts | −1,945 sh | −4% |
| Exited | HealthPeak Properties (PEAK) | 0.1% | — | −0.1 pts | −21,215 sh | −100% |
| Reduced | MasterCard Inc. (MA) | 2.1% | 2.3% | +0.2 pts | −718 sh | −2% |
| Exited | Brookfield Infrastructure Clas (BIPC) | 0.1% | — | −0.1 pts | −9,923 sh | −100% |
| Reduced | Clearway Energy, Inc. (CWEN) | 1.5% | 1.8% | +0.3 pts | −11,938 sh | −3% |
| New | BNP Paribas ADR (BNPQY) | — | 0.1% | +0.1 pts | +8,550 sh | new |
| Reduced | Visa (V) | 1.7% | 2.0% | +0.3 pts | −975 sh | −2% |
| Reduced | BAE Systems PLC Sponsored ADR (BAESY) | 0.8% | 1.2% | +0.4 pts | −3,688 sh | −4% |
| Reduced | Johnson & Johnson (JNJ) | 0.6% | 0.8% | +0.1 pts | −1,645 sh | −5% |
| Reduced | DTE Energy (DTE) | 1.0% | 1.2% | +0.2 pts | −1,918 sh | −3% |
| Exited | E.ON SE ADR (EONGY) | 0.0% | — | 0.0 pts | −24,350 sh | −100% |
| Reduced | Union Pacific (UNP) | 0.3% | 0.3% | 0.0 pts | −1,036 sh | −12% |
| Reduced | Nestle Spons ADR (NSRGY) | 0.4% | 0.5% | +0.1 pts | −2,295 sh | −7% |
| Reduced | American Express (AXP) | 0.1% | 0.1% | 0.0 pts | −845 sh | −30% |
| New | Charles Schwab (SCHW) | — | 0.0% | 0.0 pts | +2,656 sh | new |
| Exited | Seaport Entertainment (SEG) | 0.0% | — | 0.0 pts | −8,052 sh | −100% |
| Reduced | Weyerhaeuser (WY) | 0.5% | 0.5% | 0.0 pts | −6,900 sh | −5% |
The 50 largest of 91 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
Top 10 positions — 50.0% of the equity book
Changes in the top 10 this quarter: JPM entered · APO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | Enterprise Prod Partners (EPD) | 8.8% | 10.2% | |
| 2 | Energy Transfer LP (ET) | 7.3% | 7.3% | |
| 3 | MPLX LP (MPLX) | 5.6% | 6.7% | |
| 4 | Vistra Energy Corp (VST) | 5.9% | 4.9% | |
| 5 | Amazon.com Inc. (AMZN) | 5.2% | 4.5% | |
| 6 | Cheniere Energy Inc (LNG) | 3.5% | 3.9% | |
| 7 | NextEra Energy, Inc. (NEE) | 3.8% | 3.6% | |
| 8 | Alphabet, Inc. Cl A (GOOGL) | 4.3% | 3.5% | |
| 9 | Healthcare Realty (HR) | 2.9% | 2.8% | |
| 10 | J.P. Morgan Chase (JPM) | 2.7% | 2.6% | Entered the top 10 |
| — | Apollo Global Mgmt. (APO) | 3.1% | 1.8% | 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).