Portfolio (Quarterly) Guide ↗

A. D. Beadell Investment Counsel, Inc.

· CIK 0001569102

13F Portfolio $157M AUM 100 positions Filed Apr 17, 2026 EDGAR ↗ ← All Funds

Q1 2026 Q4 2025 · All 10 New 14 Added 35 Reduced 9 Exited

#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
1	WTRG	Essential Utilities	Utilities	76,790.0	$3.1M	1.97%	+39K	+105.6%	$40.27	-7.0%
2	ABT	Abbott Laboratories	Healthcare	27,097.0	$2.8M	1.78%	+3K	+14.4%	$102.67	-14.9%
3	MDT	Medtronic Inc	Healthcare	29,735.0	$2.6M	1.65%	+700.0	+2.4%	$86.63	-9.3%
4	—	Proshares Short S&P	—	67,825.0	$2.6M	1.64%	+59K	+670.7%	$37.92	—
5	MSFT	Microsoft Corp	Technology	5,835.0	$2.2M	1.38%	+87.0	+1.5%	$370.01	+13.1%
6	BDX	Becton Dickinson & Co	Healthcare	12,761.0	$2.0M	1.28%	+551.0	+4.5%	$157.20	-6.1%
7	POR	Portland General Elec	Utilities	33,035.0	$1.7M	1.11%	+5K	+18.2%	$52.76	-5.6%
8	—	Vanguard Intrmd-Term Tax-Exempt Bond	—	13,825.0	$1.4M	0.88%	+350.0	+2.6%	$99.89	—
9	ORI	Old Republic Intl	Financial Services	19,745.0	$787K	0.50%	+425.0	+2.2%	$39.86	-1.3%
10	—	ALPS Alerian MLP ETF	—	12,600.0	$663K	0.42%	+4K	+46.5%	$52.62	—
11	SHY	iShares 1-3 Year Treasury	—	7,091.0	$585K	0.37%	+111.0	+1.6%	$82.50	-0.5%
12	NFG	National Fuel Gas Co	Energy	4,235.0	$397K	0.25%	+535.0	+14.5%	$93.74	-13.7%
13	—	RLJ Lodging 7.8 pfd	—	12,600.0	$303K	0.19%	+2K	+20.6%	$24.05	—
14	SPDN	Drxn Daily S&P500 Inverse ETF	—	20,000.0	$199K	0.13%	+8K	+60.0%	$9.95	-12.2%

① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Industrials 17.3%

Energy 15.7%

Healthcare 13.6%

Technology 11.8%

Financial Services 11.6%

Basic Materials 9.9%

Utilities 8.9%

Communication Services 4.1%

Consumer Defensive 3.9%

Consumer Cyclical 2.6%