BEACH INVESTMENT COUNSEL INC/PA

CIK 0001058800 · Q1 2025

13F Equity AUM

$679.4B

-8.2% QoQ

Positions

117

-3 QoQ

AUM Rank

#33

Top 0.3%

Skill Alpha (FF)

-2.2%/yr^ns

No Clear Edge

Rank #5,524 · Top 67%

vs S&P -6.7%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 33.5%Top 10: 50.0%Top 20: 71.4%

EPD10.2%

ET7.3%

MPLXP6.7%

Vistra Energy Corp4.9%

AMZN4.5%

LNG4.0%

NEE3.6%

GOOG3.5%

HR2.8%

J.P. Morgan Chase2.6%

Others (107)50.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Energy29.3%

Utilities16.5%

Financial Services16.4%

Communication Services6.8%

Consumer Defensive5.9%

Real Estate5.2%

Technology5.0%

Consumer Cyclical4.5%

Other10.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 117Median: 0.24%Avg: 0.85%

0–0.5%

83(14.0%)

0.5–1%

5(3.5%)

1–3%

21(37.9%)

3–5%

5(20.4%)

5%+

3(24.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 88Unique: 29vs 20 funds

1.3%Low

117

Fund positions

6,999

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 8 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.7%

BANK OF AMERICA CORP /DE/

1.9%

2.2%

1.9%

2.9%

2.3%

2.3%

GEODE CAPITAL MANAGEMENT, LLC

2.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New8Increased6Decreased67Exited11

New Positions

NEM0.3%

+35K

BDN0.2%

+370K

PRGO0.2%

+54K

UOVEY0.1%

+17K

BNPQY0.1%

+9K

XIFR0.0%

+25K

SCGLY0.0%

+19K

SCHW0.0%

+3K

Increased

BAC2.3%

+174K(+88%)

PCG1.4%

+130K(+29%)

MDLZ1.1%

+48K(+72%)

PPL1.1%

+23K(+13%)

HHH1.2%

+6K(+6%)

BUD0.2%

+1K(+4%)

Decreased

KW0.3%

-169,723(-41%)

HR2.8%

-140,448(-11%)

ET7.3%

-84,657(-3%)

EPD10.2%

-54,180(-3%)

CRH.L1.5%

-52,522(-31%)

APO1.8%

-51,381(-37%)

NEE3.6%

-41,471(-11%)

TRVC2.1%

-38,548(-16%)

CNP1.1%

-38,136(-15%)

Vistra Energy Corp4.9%

-34,912(-11%)

Exited

-116,921

-403,173

-6,352

-14,587

Deutsche Post DHL Gr…

-23,129

-21,215

-9,923

-24,350

-8,052

-10,392

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...