The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 12-31-2021
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: A. D. Beadell Investment Counsel, Inc.
Address: 10224 N. PORT WASHINGTON ROAD
MEQUON , WI53092
Form 13F File Number: 028-15167

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: Jon Beadell
Title: Analyst/Portfolio Manager
Phone: 262-241-0331
Signature, Place, and Date of Signing:
Jon Beadell Mequon , WI 01-19-2022
[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 reported are 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: 92
Form 13F Information Table Value Total: 159,935
(thousands)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name

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.]
No. Form 13F File Number Name


SEC FORM 13F-HR

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Co COM 88579Y101 1,435 8,080 SH SOLE 450 0 7,630
Abbott Laboratories COM 002824100 5,357 38,065 SH SOLE 1,825 0 36,240
Aberdeen Phys Swiss Gold COM 00326A104 1,602 91,275 SH SOLE 5,925 0 85,350
ABM Industries Inc COM 000957100 1,096 26,830 SH SOLE 250 0 26,580
Advisorshrs Pure Cannabis COM 00768Y495 691 53,200 SH SOLE 8,400 0 44,800
Alexandria Real Estate COM 015271109 1,574 7,060 SH SOLE 500 0 6,560
Alphabet Inc COM 02079K305 2,279 787 SH SOLE 49 0 738
Amazon.com Inc COM 023135106 2,123 637 SH SOLE 68 0 569
Apple Inc COM 037833100 2,913 16,405 SH SOLE 1,380 0 15,025
ASA Limited COM G3156P103 2,448 116,121 SH SOLE 5,000 0 111,121
Atlantica Yield COM G00349103 3,252 90,943 SH SOLE 4,850 0 86,093
Bank of America Corp COM 060505104 262 5,902 SH SOLE 0 0 5,902
Barrick Gold Corp COM 067901108 735 38,700 SH SOLE 7,000 0 31,700
Becton Dickinson & Co COM 075887109 3,063 12,182 SH SOLE 325 0 11,857
Berry Global Group COM 08579W103 381 5,175 SH SOLE 825 0 4,350
Bristol-Myers Squibb Co COM 110122AN8 231 3,716 SH SOLE 0 0 3,716
Brookfield Renewable Energy LP UT LTD PTNR G16258108 241 6,738 SH SOLE 0 0 6,738
CBOE Global Mkts Inc COM 12503M108 839 6,440 SH SOLE 0 0 6,440
ChevronTexaco Corp. COM 166764100 1,041 8,871 SH SOLE 0 0 8,871
Cigna Corp COM 125523100 2,270 9,886 SH SOLE 500 0 9,386
Coca Cola Company COM 191216100 3,314 55,973 SH SOLE 1,625 0 54,348
Colgate-Palmolive Co COM 194162103 334 3,920 SH SOLE 0 0 3,920
Communications Services ETF COM 81369Y852 1,763 22,700 SH SOLE 88 0 22,612
CVS Health Corp COM 126650100 732 7,100 SH SOLE 1,050 0 6,050
Ecolab Inc. COM 278865100 697 2,975 SH SOLE 0 0 2,975
Enbridge Inc COM 29250N105 1,569 40,168 SH SOLE 128 0 40,040
Enterprise Prd Prtnrs Lp UT LTD PTNR 293792107 4,517 205,735 SH SOLE 47,900 0 157,835
FedEx Corporation COM 31428X106 1,625 6,285 SH SOLE 120 0 6,165
Firstenergy Corp COM 337932107 2,299 55,297 SH SOLE 3,130 0 52,167
General Motors Co. COM 37045V100 232 3,965 SH SOLE 0 0 3,965
Google Inc. COM 38259P508 263 91 SH SOLE 0 0 91
Hercules Capital Inc COM 427096508 3,060 184,482 SH SOLE 18,525 0 165,957
Hlthcare Tr Of Amer COM 42225P501 594 17,813 SH SOLE 0 0 17,813
Illumina Inc COM 452327109 367 967 SH SOLE 92 0 875
Intel Corp. COM 458140AD2 4,575 88,840 SH SOLE 17,220 0 71,620
Invesco China Technology COM 46138E800 212 3,415 SH SOLE 0 0 3,415
Invesco Senior Loan ETF COM 73936Q769 1,094 49,526 SH SOLE 0 0 49,526
iShares Core S&P COM 464287200 715 1,500 SH SOLE 0 0 1,500
iShares Core S&P Mid Cap COM 464287507 319 1,128 SH SOLE 0 0 1,128
iShares Short Term Corporate Bond COM 464288646 1,620 30,070 SH SOLE 0 0 30,070
iShares U.S. Preferred COM 464288687 460 11,675 SH SOLE 0 0 11,675
J. P. Morgan Chase & Co. COM 46625H100 2,732 17,255 SH SOLE 150 0 17,105
Johnson & Johnson COM 478160104 2,495 14,585 SH SOLE 600 0 13,985
JPMorgan Ultra Short Bond COM 46641Q837 1,014 20,100 SH SOLE 0 0 20,100
Kinder Morgan Inc COM 49456B101 992 62,600 SH SOLE 3,225 0 59,375
Lab Corp. of America COM 50540R409 1,522 4,845 SH SOLE 190 0 4,655
Lamar Advertising COM 512816109 242 2,000 SH SOLE 150 0 1,850
Market Vectors Gold Miner ETF COM 570604100 3,363 104,996 SH SOLE 4,975 0 100,021
MDU Resources Group COM 552690109 3,168 102,746 SH SOLE 7,450 0 95,296
Medtronic Inc COM G5960L103 3,573 34,540 SH SOLE 3,920 0 30,620
Merck & Co Inc COM 58933Y105 4,511 58,860 SH SOLE 6,580 0 52,280
Micron Technology COM 595112103 1,339 14,380 SH SOLE 2,070 0 12,310
Microsoft Corp COM 594918104 4,695 13,962 SH SOLE 400 0 13,562
Mondelez International COM 609207105 1,306 19,707 SH SOLE 400 0 19,307
Morgan Stanley COM 617446448 4,201 42,800 SH SOLE 3,700 0 39,100
Newmont Mining Corp COM 651639106 1,332 21,490 SH SOLE 6,525 0 14,965
Nextera Era Energy Partners COM 65341B106 9,860 116,832 SH SOLE 11,710 0 105,122
Northrop Grumman Co COM 666807102 1,691 4,369 SH SOLE 144 0 4,225
NXP Semiconductors COM N6596X109 252 1,107 SH SOLE 50 0 1,057
Pembina Pipeline Corp COM 706327103 2,488 82,056 SH SOLE 200 0 81,856
Pepsico Inc COM 713448108 2,349 13,528 SH SOLE 250 0 13,278
Pfizer Incorporated COM 717081103 359 6,088 SH SOLE 0 0 6,088
Primoris Services Co COM 74164F103 2,918 121,725 SH SOLE 8,450 0 113,275
Procter & Gamble Co COM 742718109 486 2,975 SH SOLE 75 0 2,900
Proshares Short 20 Yr Treasury COM 74347X849 2,406 150,500 SH SOLE 1,000 0 149,500
Prudential Finl COM 744320102 234 2,167 SH SOLE 0 0 2,167
Qualcomm Inc COM 747525103 5,620 30,735 SH SOLE 3,285 0 27,450
Quanta Services Inc COM 74762E102 3,170 27,651 SH SOLE 1,430 0 26,221
Restaurant Brands COM 76131D103 2,039 33,605 SH SOLE 1,635 0 31,970
Southwest Gas Holdings I COM 844895102 649 9,270 SH SOLE 1,870 0 7,400
SPDR Gold Shares ETF COM 78463V107 1,467 8,585 SH SOLE 0 0 8,585
SPDR MSCI All World Ex-US ETF COM 78463X848 557 19,011 SH SOLE 60 0 18,951
SPDR Technology ETF COM 81369Y803 347 2,000 SH SOLE 0 0 2,000
Sprott Physical Gold & Silver COM 153501101 972 54,820 SH SOLE 7,450 0 47,370
Sprott Physical Gold ETV COM 85207H104 2,450 170,643 SH SOLE 3,382 0 167,261
Stryker Corp COM 863667101 1,333 4,985 SH SOLE 350 0 4,635
Sysco Corporation COM 871829107 936 11,923 SH SOLE 0 0 11,923
Taiwan Semiconductor COM 874039100 3,688 30,657 SH SOLE 3,300 0 27,357
TC Energy Corp (Transcanada) COM 89353D107 793 17,040 SH SOLE 50 0 16,990
Tyson Foods Inc COM 902494103 3,885 44,583 SH SOLE 3,595 0 40,988
UGI Corporation COM 902681105 523 11,400 SH SOLE 2,200 0 9,200
Union Pacific Corp COM 907818108 1,885 7,484 SH SOLE 430 0 7,054
Unitedhealth Group Inc COM 91324P102 244 486 SH SOLE 0 0 486
Vanguard Health Care ETF COM 92204A504 309 1,160 SH SOLE 58 0 1,102
Vanguard Short Term Bond ETF COM 921937827 804 9,951 SH SOLE 100 0 9,851
Vanguard Short-Term Corp COM 92206C409 1,832 22,544 SH SOLE 0 0 22,544
Verizon Communications COM 92343V104 340 6,560 SH SOLE 0 0 6,560
Walgreens Boots Alliance COM 931427108 735 14,100 SH SOLE 2,500 0 11,600
Wal-Mart Stores Inc COM 931142103 287 1,990 SH SOLE 1,250 0 740
Waste Management Inc COM 94106L109 371 2,225 SH SOLE 100 0 2,125
Westrock Co COM 96145D105 210 4,754 SH SOLE 1,154 0 3,600
Zimmer Holdings Inc COM 98956P102 767 6,042 SH SOLE 20 0 6,022