Institutional Manager · CIK 0001569102

A. D. Beadell Investment Counsel, Inc.

MEQUON, WI · File #028-15167

Latest AUM

$153,988

Positions

Top-10 Concentration

39.1%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	Essential Utilities	29670G102	+37,345	+$1,432	$0
EXITED	Baxter International Inc	071813109	-39,175	-$892	$0
NEW	Dell Computer Corp	DELL	+5,805	+$730	$0
REDUCE	Primoris Services Co	74164F103	-4,860	-$603	-$870
EXITED	Proshares Short Russell	74348A210	-20,500	-$344	$0
NEW	Proshares Short S&P	74347B425	+8,800	+$317	$0
NEW	National Fuel Gas Co	NFG	+3,700	+$296	$0
REDUCE	Market Vectors Gold Miner ETF	570604100	-3,019	-$259	+$900
NEW	TC Energy Corp	TCPA	+4,510	+$248	$0
NEW	Vanguard Health Care ETF	92204A504	+760	+$219	$0

Sector Allocation

8.9%$13,646

6.5%$9,977

5.3%$8,181

4.9%$7,611

3.9%$5,959

3.5%$5,469

Consumer Discretionary

2.6%$4,088

Materials

2.4%$3,709

Consumer Staples

2.4%$3,687

Real Estate

0.3%$510

Filing History

Jan 14, 202613F HOLDINGS REPORTQ/E Dec 202599 pos · $153,988
Oct 10, 202513F HOLDINGS REPORTQ/E Sep 202591 pos · $146,861
Jul 16, 202513F HOLDINGS REPORTQ/E Jun 202589 pos · $131,209
Apr 11, 202513F HOLDINGS REPORTQ/E Mar 202585 pos · $120,115
Jan 10, 202513F HOLDINGS REPORTQ/E Dec 202488 pos · $123,372
Oct 9, 202413F HOLDINGS REPORTQ/E Sep 202485 pos · $125,182
Jul 12, 202413F HOLDINGS REPORTQ/E Jun 202483 pos · $119,561
Apr 12, 202413F HOLDINGS REPORTQ/E Mar 202474 pos · $114,510
Oct 13, 202313F HOLDINGS REPORTQ/E Dec 202368 pos · $95,809

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	Market Vectors Gold Miner ETF	570604100	93,046	$7,980	6.10%
2	Taiwan Semiconductor	874039100	26,072	$7,923	6.05%
3	Primoris Services Co	74164F103	61,060	$7,579	5.79%
4	Enterprise Prd Prtnrs Lp	293792107	155,910	$4,998	3.82%
5	Kinder Morgan Inc	EP-PC	147,055	$4,042	3.09%
6	Alphabet Inc Cl A	GOOG	12,885	$4,033	3.08%
7	Raytheon Technologies Co	RTX	21,155	$3,879	2.96%
8	Barrick Mining Corp	06849F108	87,995	$3,832	2.93%
9	Brookfield Renewable Corp	BEPC	91,160	$3,495	2.67%
10	Amazon.com Inc	AMZN	14,690	$3,390	2.59%
11	Pembina Pipeline Corp	PPLOF	86,430	$3,289	2.51%
12	Merck & Co Inc	MRK	30,186	$3,177	2.43%
13	Sprott Physical Gold ETV	SII	95,294	$3,146	2.40%
14	Plains Group Hldgs LP	PAGP	162,075	$3,102	2.37%
15	Air Products and Chemicals	AIIR	12,322	$3,043	2.32%
16	Aberdeen Phys Swiss Gold	00326A104	72,400	$2,974	2.27%
17	Abbott Laboratories	ABLZF	23,680	$2,966	2.27%
18	Apple Inc	AAPL	10,437	$2,837	2.17%
19	Medtronic Inc	MDT	29,035	$2,789	2.13%
20	Microsoft Corp	MSFT	5,748	$2,779	2.12%