# EDGAR Filing Document

**Accession Number:** 0001058800
**File Stem:** 0001058800-23-000001
**Filing Date:** 2023-2
**Character Count:** 17831
**Document Hash:** 60ecac2f5d166cda46c6ca4a00a45fe1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001058800-23-000001.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0001058800-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**EFFECTIVENESS DATE**: 20230216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEACH INVESTMENT COUNSEL INC/PA
- **CENTRAL INDEX KEY:** 0001058800
- **IRS NUMBER:** 232845611
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03561
- **FILM NUMBER:** 23637445

**BUSINESS ADDRESS:**
- **STREET 1:** FIVE TOWER BRIDGE
- **STREET 2:** 300 BARR HARBOR DRIVE SUITE 220
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 6109401111

**MAIL ADDRESS:**
- **STREET 1:** FIVE TOWER BRIDGE
- **STREET 2:** 300 BARR HARBOR DRIVE SUITE 220
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** BEACH INVESTMENT COUNSEL INC/PA<br>**Address:** FIVE TOWER BRIDGE<br>300 BARR HARBOR DRIVE SUITE 220<br>WEST CONSHOHOCKEN, PA 19428

**Form 13F File Number:** 028-03561

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** tania zapalski<br>**Title:** operations<br>**Phone:** 610.940.1111

**Signature, Place, and Date of Signing:**

Tania Zapalski  West Conshohocken, PA  02-16-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 155

**Form 13F Information Table Value Total:** $800828

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AT | COM | 00206r102 |  | 766 | 41593 | SH |  | SOLE |  | 0 | 0 | 41593 |
| AllianceBernstein Holdings LP | COM | 01881g106 |  | 575 | 16740 | SH |  | SOLE |  | 0 | 0 | 16740 |
| Ameren Corp | COM | 023608102 |  | 7925 | 89124 | SH |  | SOLE |  | 0 | 0 | 89124 |
| CenterPoint Energy Inc. | COM | 15189t107 |  | 9463 | 315534 | SH |  | SOLE |  | 0 | 0 | 315534 |
| Clearway Energy Inc. | COM | 18539c204 |  | 7389 | 231847 | SH |  | SOLE |  | 0 | 0 | 231847 |
| DTE Energy | COM | 233331107 |  | 8860 | 75386 | SH |  | SOLE |  | 0 | 0 | 75386 |
| Deutsche Telekom AG ADR | COM | 251566105 |  | 2055 | 102860 | SH |  | SOLE |  | 0 | 0 | 102860 |
| E.ON SE ADR | COM | 268780103 |  | 512 | 51800 | SH |  | SOLE |  | 0 | 0 | 51800 |
| Enbridge Inc. | COM | 29250n105 |  | 213 | 5455 | SH |  | SOLE |  | 0 | 0 | 5455 |
| Enel S.p.A. ADR | COM | 29265w207 |  | 227 | 42421 | SH |  | SOLE |  | 0 | 0 | 42421 |
| Energy Transfer LP | COM | 29273V100 |  | 34221 | 2882956 | SH |  | SOLE |  | 0 | 0 | 2882956 |
| Enterprise Prod Partners | COM | 293792107 |  | 57267 | 2374234 | SH |  | SOLE |  | 0 | 0 | 2374234 |
| Enviva Partners LP | COM | 29415B103 |  | 3541 | 66850 | SH |  | SOLE |  | 0 | 0 | 66850 |
| Healthpeak Properties | COM | 42250P103 |  | 3937 | 157035 | SH |  | SOLE |  | 0 | 0 | 157035 |
| Iberdrola SA ADR | COM | 450737101 |  | 1204 | 25755 | SH |  | SOLE |  | 0 | 0 | 25755 |
| Kennedy-Wilson Holdings Inc. | COM | 489398107 |  | 19310 | 1227599 | SH |  | SOLE |  | 0 | 0 | 1227599 |
| Kinder Morgan Inc. | COM | 49456b101 |  | 974 | 53871 | SH |  | SOLE |  | 0 | 0 | 53871 |
| MPLX LP | COM | 55336v100 |  | 23632 | 719597 | SH |  | SOLE |  | 0 | 0 | 719597 |
| Magellan Midstream Partners L | COM | 559080106 |  | 24105 | 480083 | SH |  | SOLE |  | 0 | 0 | 480083 |
| National Grid | COM | 636274409 |  | 3383 | 56091 | SH |  | SOLE |  | 0 | 0 | 56091 |
| NextEra Energy Partners | COM | 65341b106 |  | 91386 | 1303845 | SH |  | SOLE |  | 0 | 0 | 1303845 |
| NextEra Energy Inc. | COM | 65339F101 |  | 22755 | 272188 | SH |  | SOLE |  | 0 | 0 | 272188 |
| Plains GP Holdings LP | COM | 72651A207 |  | 1957 | 157286 | SH |  | SOLE |  | 0 | 0 | 157286 |
| ProLogis Tr SBI | COM | 74340W103 |  | 1431 | 12695 | SH |  | SOLE |  | 0 | 0 | 12695 |
| Ramco-Gerhenson Convert Pr D 7 | COM | 74971D200 |  | 5028 | 100593 | SH |  | SOLE |  | 0 | 0 | 100593 |
| STAG Industrial | COM | 85254j102 |  | 282 | 8725 | SH |  | SOLE |  | 0 | 0 | 8725 |
| Verizon Comm | COM | 92343V104 |  | 1471 | 37324 | SH |  | SOLE |  | 0 | 0 | 37324 |
| Weyerhaeuser | COM | 962166104 |  | 7109 | 229320 | SH |  | SOLE |  | 0 | 0 | 229320 |
| Williams Companies Inc | COM | 969457100 |  | 2094 | 63646 | SH |  | SOLE |  | 0 | 0 | 63646 |
| XCEL Energy Inc. | COM | 98389B100 |  | 8684 | 123860 | SH |  | SOLE |  | 0 | 0 | 123860 |
| 3M Company | COM | 88579y101 |  | 1067 | 8894 | SH |  | SOLE |  | 0 | 0 | 8894 |
| ABB Ltd. | COM | 000375204 |  | 222 | 7300 | SH |  | SOLE |  | 0 | 0 | 7300 |
| Abbott Laboratories | COM | 002824100 |  | 545 | 4968 | SH |  | SOLE |  | 0 | 0 | 4968 |
| Air Products | COM | 009158106 |  | 435 | 1411 | SH |  | SOLE |  | 0 | 0 | 1411 |
| Alphabet Inc. Cl A | COM | 02079k305 |  | 716 | 8120 | SH |  | SOLE |  | 0 | 0 | 8120 |
| Alphabet Inc. Cl C | COM | 02079k107 |  | 2551 | 28745 | SH |  | SOLE |  | 0 | 0 | 28745 |
| Amazon.com Inc. | COM | 023135106 |  | 2011 | 23939 | SH |  | SOLE |  | 0 | 0 | 23939 |
| American Express | COM | 025816109 |  | 1143 | 7733 | SH |  | SOLE |  | 0 | 0 | 7733 |
| American Intl. Group | COM | 026874784 |  | 756 | 11948 | SH |  | SOLE |  | 0 | 0 | 11948 |
| Anheuser-Busch InBev SA/NV | COM | 03524A108 |  | 3701 | 61620 | SH |  | SOLE |  | 0 | 0 | 61620 |
| Anheuser-Busch Inbev ADR | COM | 03524A108 |  | 297 | 4950 | SH |  | SOLE |  | 0 | 0 | 4950 |
| Apple Computer | COM | 037833100 |  | 17745 | 136575 | SH |  | SOLE |  | 0 | 0 | 136575 |
| Automatic Data Processing | COM | 053015103 |  | 3287 | 13762 | SH |  | SOLE |  | 0 | 0 | 13762 |
| B2Gold Corp | COM | 11777Q209 |  | 55 | 15350 | SH |  | SOLE |  | 0 | 0 | 15350 |
| BAE Systems PLC Sponsored ADR | COM | 05523r107 |  | 12016 | 285118 | SH |  | SOLE |  | 0 | 0 | 285118 |
| Bank of America | COM | 060505104 |  | 5977 | 180456 | SH |  | SOLE |  | 0 | 0 | 180456 |
| Becton Dickinson | COM | 075887109 |  | 704 | 2770 | SH |  | SOLE |  | 0 | 0 | 2770 |
| Bel Fuse Inc- Cl B | COM | 077347300 |  | 216 | 6555 | SH |  | SOLE |  | 0 | 0 | 6555 |
| Berkshire Hathaway A | COM | 084670108 |  | 1406 | 3 | SH |  | SOLE |  | 0 | 0 | 3 |
| Berkshire Hathaway B | COM | 084670702 |  | 6883 | 22282 | SH |  | SOLE |  | 0 | 0 | 22282 |
| Blackstone Inc. | COM | 09260D107 |  | 3623 | 48836 | SH |  | SOLE |  | 0 | 0 | 48836 |
| Boeing Company | COM | 097023105 |  | 341 | 1789 | SH |  | SOLE |  | 0 | 0 | 1789 |
| Boswell J G Co. | COM | 101205102 |  | 258 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| Brookfield Infrastructure Clas | COM | 11275Q107 |  | 788 | 20258 | SH |  | SOLE |  | 0 | 0 | 20258 |
| Brookfield Infrastructure Part | COM | G16252101 |  | 4924 | 158893 | SH |  | SOLE |  | 0 | 0 | 158893 |
| CVS Health Corp | COM | 126650100 |  | 3147 | 33770 | SH |  | SOLE |  | 0 | 0 | 33770 |
| Cadence Design | COM | 127387108 |  | 1273 | 7924 | SH |  | SOLE |  | 0 | 0 | 7924 |
| Caterpillar | COM | 149123101 |  | 3630 | 15154 | SH |  | SOLE |  | 0 | 0 | 15154 |
| Century Communities Inc. | COM | 156504300 |  | 828 | 16555 | SH |  | SOLE |  | 0 | 0 | 16555 |
| Charles Schwab | COM | 808513105 |  | 653 | 7840 | SH |  | SOLE |  | 0 | 0 | 7840 |
| Charter Communications Inc. | COM | 16119P108 |  | 2234 | 6588 | SH |  | SOLE |  | 0 | 0 | 6588 |
| Chevron | COM | 166764100 |  | 17542 | 97735 | SH |  | SOLE |  | 0 | 0 | 97735 |
| Chubb Ltd. | COM | H1467J104 |  | 6798 | 30815 | SH |  | SOLE |  | 0 | 0 | 30815 |
| Cisco Systems | COM | 17275R102 |  | 2547 | 53459 | SH |  | SOLE |  | 0 | 0 | 53459 |
| Citigroup | COM | 172967424 |  | 2130 | 47087 | SH |  | SOLE |  | 0 | 0 | 47087 |
| Coca Cola Co. | COM | 191216100 |  | 12444 | 195627 | SH |  | SOLE |  | 0 | 0 | 195627 |
| Colgate Palmolive | COM | 194162103 |  | 312 | 3957 | SH |  | SOLE |  | 0 | 0 | 3957 |
| Comcast Cl A | COM | 20030N101 |  | 456 | 13036 | SH |  | SOLE |  | 0 | 0 | 13036 |
| Corning | COM | 219350105 |  | 246 | 7700 | SH |  | SOLE |  | 0 | 0 | 7700 |
| Costco Wholesale | COM | 22160K105 |  | 2531 | 5545 | SH |  | SOLE |  | 0 | 0 | 5545 |
| Crown Castle Intl. | COM | 22822V101 |  | 312 | 2300 | SH |  | SOLE |  | 0 | 0 | 2300 |
| Crown Holdings Inc . | COM | 228368106 |  | 9502 | 115584 | SH |  | SOLE |  | 0 | 0 | 115584 |
| Cummins Inc. | COM | 231021106 |  | 249 | 1026 | SH |  | SOLE |  | 0 | 0 | 1026 |
| Deere  Co. | COM | 244199105 |  | 882 | 2056 | SH |  | SOLE |  | 0 | 0 | 2056 |
| Dentsply Sirona | COM | 24906P109 |  | 761 | 23900 | SH |  | SOLE |  | 0 | 0 | 23900 |
| Deutsche Post AG ADR | COM | 25157y202 |  | 1460 | 38946 | SH |  | SOLE |  | 0 | 0 | 38946 |
| Eli Lilly | COM | 532457108 |  | 1526 | 4170 | SH |  | SOLE |  | 0 | 0 | 4170 |
| Emerson Electric Co. | COM | 291011104 |  | 2664 | 27734 | SH |  | SOLE |  | 0 | 0 | 27734 |
| Estee Lauder | COM | 518439104 |  | 935 | 3770 | SH |  | SOLE |  | 0 | 0 | 3770 |
| Exxon Mobil | COM | 30231G102 |  | 1297 | 11755 | SH |  | SOLE |  | 0 | 0 | 11755 |
| Fedex | COM | 31428x106 |  | 1780 | 10278 | SH |  | SOLE |  | 0 | 0 | 10278 |
| Flushing Financial | COM | 343873105 |  | 2213 | 114173 | SH |  | SOLE |  | 0 | 0 | 114173 |
| Fomento Economico Mexicano SA | COM | 344419106 |  | 1140 | 14597 | SH |  | SOLE |  | 0 | 0 | 14597 |
| Freeport McMoran Inc. | COM | 35671D857 |  | 18129 | 477080 | SH |  | SOLE |  | 0 | 0 | 477080 |
| General Electric | COM | 369604301 |  | 370 | 4410 | SH |  | SOLE |  | 0 | 0 | 4410 |
| Genuine Parts | COM | 372460105 |  | 992 | 5717 | SH |  | SOLE |  | 0 | 0 | 5717 |
| Goodyear Tire  Rubber Co. | COM | 382550101 |  | 175 | 17194 | SH |  | SOLE |  | 0 | 0 | 17194 |
| Howard Hughes Corp. | COM | 44267D107 |  | 30307 | 396585 | SH |  | SOLE |  | 0 | 0 | 396585 |
| IBM | COM | 459200101 |  | 691 | 4903 | SH |  | SOLE |  | 0 | 0 | 4903 |
| Illinois Tool Works | COM | 452308109 |  | 515 | 2339 | SH |  | SOLE |  | 0 | 0 | 2339 |
| Intel Corp. | COM | 458140100 |  | 291 | 11004 | SH |  | SOLE |  | 0 | 0 | 11004 |
| J.P. Morgan Chase | COM | 46625h100 |  | 11522 | 85920 | SH |  | SOLE |  | 0 | 0 | 85920 |
| Johnson  Johnson | COM | 478160104 |  | 16185 | 91621 | SH |  | SOLE |  | 0 | 0 | 91621 |
| KKR  Co. Inc. | COM | 48251W104 |  | 3737 | 80500 | SH |  | SOLE |  | 0 | 0 | 80500 |
| Kimberly Clark | COM | 494368103 |  | 775 | 5709 | SH |  | SOLE |  | 0 | 0 | 5709 |
| Leidos Holdings Inc. | COM | 525327102 |  | 549 | 5220 | SH |  | SOLE |  | 0 | 0 | 5220 |
| Liberty SiriusXM Series C | COM | 531229607 |  | 293 | 7480 | SH |  | SOLE |  | 0 | 0 | 7480 |
| Linde PLC | COM | G5494J103 |  | 734 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| MasterCard Inc. | COM | 57636q104 |  | 5442 | 15651 | SH |  | SOLE |  | 0 | 0 | 15651 |
| McDonald's Corp. | COM | 580135101 |  | 431 | 1635 | SH |  | SOLE |  | 0 | 0 | 1635 |
| Medtronic | COM | G5960L103 |  | 2781 | 35779 | SH |  | SOLE |  | 0 | 0 | 35779 |
| Merck | COM | 58933y105 |  | 6908 | 62263 | SH |  | SOLE |  | 0 | 0 | 62263 |
| MetLife | COM | 59156R108 |  | 564 | 7800 | SH |  | SOLE |  | 0 | 0 | 7800 |
| Meta Platforms Inc. | COM | 30303M102 |  | 475 | 3950 | SH |  | SOLE |  | 0 | 0 | 3950 |
| Microsoft | COM | 594918104 |  | 1372 | 5721 | SH |  | SOLE |  | 0 | 0 | 5721 |
| Mondelez International Inc. | COM | 609207105 |  | 13821 | 207374 | SH |  | SOLE |  | 0 | 0 | 207374 |
| National Fuel Gas Co. | COM | 636180101 |  | 3553 | 56137 | SH |  | SOLE |  | 0 | 0 | 56137 |
| Nestle Spons ADR | COM | 641069406 |  | 16977 | 147188 | SH |  | SOLE |  | 0 | 0 | 147188 |
| Northrup Grumman | COM | 666807102 |  | 5757 | 10552 | SH |  | SOLE |  | 0 | 0 | 10552 |
| Novartis | COM | 66987V109 |  | 3901 | 42995 | SH |  | SOLE |  | 0 | 0 | 42995 |
| Oracle | COM | 68389X105 |  | 548 | 6700 | SH |  | SOLE |  | 0 | 0 | 6700 |
| PNC Bank Corp. | COM | 693475105 |  | 4727 | 29927 | SH |  | SOLE |  | 0 | 0 | 29927 |
| Paramount Global B | COM | 92556H206 |  | 226 | 13378 | SH |  | SOLE |  | 0 | 0 | 13378 |
| Pepsico | COM | 713448108 |  | 4181 | 23145 | SH |  | SOLE |  | 0 | 0 | 23145 |
| Pfizer | COM | 717081103 |  | 6900 | 134660 | SH |  | SOLE |  | 0 | 0 | 134660 |
| Phillips 66 | COM | 718546104 |  | 256 | 2460 | SH |  | SOLE |  | 0 | 0 | 2460 |
| Procter  Gamble | COM | 742718109 |  | 6735 | 44436 | SH |  | SOLE |  | 0 | 0 | 44436 |
| Prudential Financial Inc | COM | 744320102 |  | 219 | 2200 | SH |  | SOLE |  | 0 | 0 | 2200 |
| Raytheon Technologies | COM | 75513E101 |  | 3594 | 35614 | SH |  | SOLE |  | 0 | 0 | 35614 |
| Roche Holding AG | COM | 771195104 |  | 4019 | 102666 | SH |  | SOLE |  | 0 | 0 | 102666 |
| S Global Inc. | COM | 78409V104 |  | 536 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| SPDR S 500 ETF | COM | 78462F103 |  | 5339 | 13960 | SH |  | SOLE |  | 0 | 0 | 13960 |
| SPDR S Midcap 400 EFT | COM | 78467y107 |  | 314 | 710 | SH |  | SOLE |  | 0 | 0 | 710 |
| SVB Financial Group | COM | 78486Q101 |  | 1921 | 8345 | SH |  | SOLE |  | 0 | 0 | 8345 |
| Schlumberger | COM | 806857108 |  | 21730 | 406471 | SH |  | SOLE |  | 0 | 0 | 406471 |
| Shell PLC ADR | COM | 780259305 |  | 10389 | 182429 | SH |  | SOLE |  | 0 | 0 | 182429 |
| Siemens AG ADR | COM | 826197501 |  | 3358 | 48811 | SH |  | SOLE |  | 0 | 0 | 48811 |
| Sony Corp. | COM | 835699307 |  | 231 | 3025 | SH |  | SOLE |  | 0 | 0 | 3025 |
| Southwestern Energy Co | COM | 845467109 |  | 79 | 13469 | SH |  | SOLE |  | 0 | 0 | 13469 |
| State Street Corp | COM | 857477103 |  | 420 | 5418 | SH |  | SOLE |  | 0 | 0 | 5418 |
| Stryker Corp | COM | 863667101 |  | 3120 | 12762 | SH |  | SOLE |  | 0 | 0 | 12762 |
| Swiss Re ADR | COM | 870886108 |  | 622 | 26475 | SH |  | SOLE |  | 0 | 0 | 26475 |
| Sysco | COM | 871829107 |  | 2778 | 36334 | SH |  | SOLE |  | 0 | 0 | 36334 |
| T-Mobile US Inc. | COM | 872590104 |  | 10936 | 78115 | SH |  | SOLE |  | 0 | 0 | 78115 |
| Thermo Fisher Scientific | COM | 883556102 |  | 5936 | 10780 | SH |  | SOLE |  | 0 | 0 | 10780 |
| Thomson Reuters Corp. | COM | 884903709 |  | 383 | 3354 | SH |  | SOLE |  | 0 | 0 | 3354 |
| Truist Financial Corporation | COM | 89832q109 |  | 1874 | 43552 | SH |  | SOLE |  | 0 | 0 | 43552 |
| UBS Group AG | COM | H42097107 |  | 237 | 12700 | SH |  | SOLE |  | 0 | 0 | 12700 |
| Unilever PLC | COM | 904767704 |  | 3541 | 70332 | SH |  | SOLE |  | 0 | 0 | 70332 |
| Union Pacific | COM | 907818108 |  | 2763 | 13342 | SH |  | SOLE |  | 0 | 0 | 13342 |
| UnitedHealth Group | COM | 91324P102 |  | 10800 | 20370 | SH |  | SOLE |  | 0 | 0 | 20370 |
| Veolia Environnement ADR | COM | 92334N103 |  | 1409 | 54713 | SH |  | SOLE |  | 0 | 0 | 54713 |
| Viatris | COM | 92556v106 |  | 148 | 13307 | SH |  | SOLE |  | 0 | 0 | 13307 |
| Visa | COM | 92826c839 |  | 7369 | 35468 | SH |  | SOLE |  | 0 | 0 | 35468 |
| Vistra Energy Corp | COM | 92840m102 |  | 15015 | 647205 | SH |  | SOLE |  | 0 | 0 | 647205 |
| W. W. Grainger | COM | 384802104 |  | 472 | 848 | SH |  | SOLE |  | 0 | 0 | 848 |
| Wal-Mart Stores | COM | 931142103 |  | 206 | 1453 | SH |  | SOLE |  | 0 | 0 | 1453 |
| Walt Disney | COM | 254687106 |  | 2100 | 24172 | SH |  | SOLE |  | 0 | 0 | 24172 |
| Warner Bros. Discovery A | COM | 934423104 |  | 699 | 73730 | SH |  | SOLE |  | 0 | 0 | 73730 |
| Wells Fargo | COM | 949746101 |  | 482 | 11664 | SH |  | SOLE |  | 0 | 0 | 11664 |
| WisdomTree Germany Hedged Equi | COM | 97717w448 |  | 329 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| iShares Russell 1000 Growth ET | COM | 464287614 |  | 399 | 1862 | SH |  | SOLE |  | 0 | 0 | 1862 |
| iShares Russell 2000 Value ETF | COM | 464287630 |  | 288 | 2080 | SH |  | SOLE |  | 0 | 0 | 2080 |
| iShares Russell 3000 ETF | COM | 464287689 |  | 308 | 1397 | SH |  | SOLE |  | 0 | 0 | 1397 |
| iShares US Technology | COM | 464287721 |  | 730 | 9800 | SH |  | SOLE |  | 0 | 0 | 9800 |

---