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REAVES W H & CO INC

10 EXCHANGE PLACE, JERSEY CITY, NJ 07302 • 2123224596

Q4 2025 · Filed 2026-02-10
Market Value
$5.7B
+0.8%
Holdings
89
+6
New Purchases
8
Added To
26
Closed
6
Reduced
31
Top 10 Concentration
52.2%
Turnover
15.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LNT 3.51% 2.14% +1.38% $199M
CEG 7.08% 5.95% +1.12% $401M
NEE 1.89% 0.80% +1.09% $107M
SRE 3.34% 2.56% +0.78% $189M
NRG 1.61% 0.85% +0.76% $91M
GEV 0.85% 0.16% +0.68% $48M
KRSP 0.45% 0.00% +0.45% $25M
GLW 1.17% 0.74% +0.44% $66M
TIC 0.38% 0.00% +0.38% $22M
OGE 1.47% 1.10% +0.37% $83M
WEC 0.70% 0.48% +0.22% $40M
DTM 1.61% 1.40% +0.21% $91M
CNP 5.19% 4.99% +0.20% $294M
ETR 4.00% 3.80% +0.20% $226M
CCJ 2.35% 2.18% +0.18% $133M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PEG 0.80% 2.84% -2.04% $45M
MP 2.33% 3.10% -0.77% $132M
CHTR 0.09% 0.84% -0.75% $5M
AWK 0.01% 0.70% -0.68% $802K
CMCSA 0.36% 1.04% -0.68% $21M
TLN 10.08% 10.69% -0.61% $570M
DTE 0.95% 1.48% -0.53% $54M
UNP 0.33% 0.79% -0.47% $19M
VST 6.26% 6.70% -0.43% $354M
LEU 0.75% 1.15% -0.40% $42M
ATO 0.05% 0.32% -0.27% $3M
CMS 2.58% 2.81% -0.23% $146M
NSC 0.67% 0.88% -0.21% $38M
DUK 0.02% 0.22% -0.20% $957K
CCOI 0.10% 0.29% -0.19% $6M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Utilities 68.4%
Energy 13.4%
Real Estate 5.2%
Industrials 5.0%
Technology 4.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 10 $96M 1.7%
Large Cap 64 $5.0B 89.0%
Mid Cap 9 $448M 7.9%
Small Cap 6 $78M 1.4%

Portfolio Analytics

Avg Market Cap
$141.4B
Median Market Cap
$45.6B
Avg P/E
34.1
Median P/E
23.8
Avg Dividend Yield
0.02%
Avg Beta
0.81
# Stocks
87
# ETFs / Funds
2

Top Holdings (89 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TLN 10.08% 1,521,697 $570M $374.84 -$30M +111,160 +7.9%
2 CEG 7.08% 1,133,945 $401M $353.27 $66M +118,566 +11.7%
3 VST 6.26% 2,197,292 $354M $161.33 -$21M +278,763 +14.5%
4 CNP 5.19% 7,666,518 $294M $38.34 $14M +446,252 +6.2%
5 XEL 4.67% 3,579,918 $264M $73.86 $9M +415,759 +13.1%
6 IDA 4.04% 1,807,811 $229M $126.56 $4M +107,131 +6.3%
7 NI 4.00% 5,424,733 $227M $41.76 $10M +415,089 +8.3%
8 ETR 4.00% 2,446,593 $226M $92.43 $13M +158,226 +6.9%
9 LNT 3.51% 3,057,253 $199M $65.01 $79M +1,278,166 +71.8%
10 SRE 3.34% 2,140,395 $189M $88.29 $45M +544,567 +34.1%
11 PPL 2.74% 4,424,814 $155M $35.02 -$6M +88,531 +2.0%
12 PNW 2.70% 1,719,774 $153M $88.70 -$9M -84,340 -4.7%
13 CMS 2.58% 2,087,283 $146M $69.93 -$11M -61,735 -2.9%
14 TXNM 2.58% 2,477,663 $146M $58.88 $2M -73,735 -2.9%
15 CCJ 2.35% 1,453,978 $133M $91.49 $11M -1,801 -0.1%
16 MP 2.33% 2,609,526 $132M $50.52 -$42M +19,618 +0.8%
17 EQIX 2.29% 168,968 $129M $766.16 $5M +10,342 +6.5%
18 PWR 2.02% 270,609 $114M $422.06 $2M -353 -0.1%
19 EPD 1.98% 3,493,940 $112M $32.06 $3M
20 AEE 1.91% 1,084,664 $108M $99.86 $8M +120,652 +12.5%
21 NEE 1.89% 1,329,628 $107M $80.28 $62M +735,867 +123.9%
22 DTM 1.61% 762,753 $91M $119.68 $12M +65,327 +9.4%
23 NRG 1.61% 571,628 $91M $159.24 $43M +276,157 +93.5%
24 OGE 1.47% 1,944,201 $83M $42.70 $21M +608,454 +45.5%
25 WMB 1.37% 1,294,417 $78M $60.11 $9M +205,190 +18.8%
26 SBAC 1.24% 362,464 $70M $193.43 -$9M -44,380 -10.9%
27 GLW 1.17% 759,075 $66M $87.56 $25M +254,553 +50.5%
28 EQT 1.10% 1,161,975 $62M $53.60 $6M +132,741 +12.9%
29 DTE 0.95% 417,526 $54M $128.98 -$29M -169,168 -28.8%
30 DY 0.86% 143,212 $48M $337.90 $7M -216 -0.1%
31 GEV 0.85% 73,403 $48M $653.57 $39M +58,403 +389.4%
32 PEG 0.80% 562,991 $45M $80.30 -$114M -1,343,505 -70.5%
33 LEU 0.75% 174,500 $42M $242.76 -$22M -34,289 -16.4%
34 WEC 0.70% 377,501 $40M $105.46 $13M +141,501 +60.0%
35 NSC 0.67% 131,000 $38M $288.72 -$11M -32,700 -20.0%
36 MPLX 0.63% 670,500 $36M $53.37 $2M
37 OKE 0.60% 461,740 $34M $73.50 -$9M -122,383 -20.9%
38 TMUS 0.54% 150,637 $31M $203.04 -$6M -1,115 -0.7%
39 CCI 0.51% 326,798 $29M $88.87 -$3M -1,419 -0.4%
40 MPC 0.48% 167,000 $27M $162.63 $8M +67,000 +67.0%
41 KRSP 0.45% 2,400,000 $25M $10.50 +2,400,000 NEW
42 FYBR 0.40% 587,933 $22M $38.07 $266K -4,215 -0.7%
43 TIC 0.38% 2,149,991 $22M $10.11 +2,149,991 NEW
44 CMCSA 0.36% 690,100 $21M $29.89 -$38M -1,168,500 -62.9%
45 UNP 0.33% 80,163 $19M $231.32 -$26M -108,375 -57.5%
46 AMT 0.30% 98,037 $17M $175.57 -$2M
47 DLR 0.26% 94,303 $15M $154.71 $2M +19,570 +26.2%
48 VRT 0.24% 82,880 $13M $162.01 -$10M -71,265 -46.2%
49 UTL 0.24% 275,000 $13M $48.44 $160K
50 WBI 0.16% 450,000 $9M $20.01 -$2M
51 BRK-B 0.16% 17,751 $9M $502.65 -$2K
52 LITE 0.13% 20,500 $8M $368.59 +20,500 NEW
53 JCI 0.11% 49,996 $6M $119.75 $413K -702 -1.4%
54 CCOI 0.10% 259,098 $6M $21.56 -$11M -164,000 -38.8%
55 CHTR 0.09% 24,500 $5M $208.75 -$42M -146,420 -85.7%
56 COHR 0.08% 26,000 $5M $184.57 +26,000 NEW
57 IRM 0.08% 53,900 $4M $82.95 +53,900 NEW
58 CPK 0.07% 30,000 $4M $124.76 -$298K
59 LAMR 0.06% 25,000 $3M $126.58 $104K
60 ANET 0.05% 23,336 $3M $131.03 +23,336 NEW
61 UTG 0.05% 83,326 $3M $36.58 -$203K +1,266 +1.5%
62 ATO 0.05% 16,678 $3M $167.63 -$15M -88,508 -84.1%
63 TBN 0.05% 100,000 $3M $27.23 +100,000 NEW
64 XOM 0.04% 17,910 $2M $120.34 $136K
65 SO 0.04% 24,648 $2M $87.20 -$698K -5,400 -18.0%
66 LIN 0.03% 4,352 $2M $426.39 -$8M -16,887 -79.5%
67 PCG 0.03% 99,104 $2M $16.07 -$14K -7,466 -7.0%
68 CVX 0.02% 9,115 $1M $152.41 -$337K -2,000 -18.0%
69 AAPL 0.02% 4,800 $1M $271.86 $83K
70 DTEGY 0.02% 37,859 $1M $32.49 -$61K
71 ECG 0.02% 12,500 $1M $85.56 -$2K
72 DUK 0.02% 8,164 $957K $117.21 -$11M -91,295 -91.8%
73 PLD 0.02% 7,356 $939K $127.66 $97K
74 PM 0.01% 5,000 $802K $160.40 -$9K
75 AWK 0.01% 6,145 $802K $130.50 -$38M -275,000 -97.8%
76 EVRG 0.01% 9,924 $719K $72.49 -$35K
77 JNJ 0.01% 3,278 $678K $206.95 $71K
78 NJR 0.01% 14,420 $665K $46.12 -$58K -600 -4.0%
79 ODFL 0.01% 4,200 $659K $156.80 -$496K -4,000 -48.8%
80 PPG 0.01% 5,000 $512K $102.46 -$13K
81 MO 0.01% 8,000 $461K $57.66 -$67K
82 EXC 0.01% 7,990 $348K $43.59 -$388K -8,375 -51.2%
83 BKR —% 5,000 $228K $45.54 +5,000 NEW
84 CNI —% -$3M -28,796 -100.0% SOLD
85 VZ —% -$205K -4,665 -100.0% SOLD
86 EIX —% -$360K -6,520 -100.0% SOLD
87 T —% -$5M -180,652 -100.0% SOLD
88 CSX —% -$5M -150,000 -100.0% SOLD
89 SCE-PJ —% -$1M -63,125 -100.0% SOLD

New Positions

SymbolValue% Port
KRSP $25M 0.45%
TIC $22M 0.38%
LITE $8M 0.13%
COHR $5M 0.08%
IRM $4M 0.08%
ANET $3M 0.05%
TBN $3M 0.05%
BKR $228K —%

Sold Out Positions

SymbolValue% Port
T —%
EIX —%
VZ —%
CNI —%
CSX —%
SCE-PJ —%
View SEC EDGAR Filings for REAVES W H & CO INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms