REAVES W H & CO INC

JERSEY CITY, NJ · CIK 740913 · 13F filing filed 2025-08-11

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$4.5bn reported value +14.8% vs Q1 2025

77positions

46.7%in top 10

2 new 25 added 32 reduced 4 sold out vs Q1 2025

This report includes the holdings of 1 other manager that shares the investment decisions:

VIRTUS ADVISERS, LLC – files its own report too; $3.1m of shares are in both

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TALEN ENERGY CORP COM TLN	TLN	1,252,490	$364.2m8.07%	8.07%	Added +39.5k	+39,483 3.2%
2	VISTRA CORP COM VST	VST	1,568,259	$303.9m6.74%	6.74%	Added +83.9k	+83,915 5.7%
3	CONSTELLATION ENERGY CORP COM CEG	CEG	823,328	$265.7m5.89%	5.89%	Added +99.3k	+99,267 13.7%
4	CENTERPOINT ENERGY INC COM CNP	CNP	6,257,356	$229.9m5.10%	5.10%	Added +1.9m	+1,871,724 42.7%
5	IDACORP INC COM IDA	IDA	1,566,844	$180.9m4.01%	4.01%	Added +318.9k	+318,919 25.6%
6	XCEL ENERGY INC COM XEL	XEL	2,516,325	$171.4m3.80%	3.80%	Added +215.8k	+215,766 9.4%
7	ENTERGY CORP NEW COM ETR	ETR	1,977,778	$164.4m3.64%	3.64%	Reduced -349.1k	-349,077 -15.0%
8	NISOURCE INC COM NI	NI	3,721,899	$150.1m3.33%	3.33%	Reduced -431.6k	-431,571 -10.4%
9	TXNM ENERGY INC COM TXNM	TXNM	2,571,680	$144.8m3.21%	3.21%	Reduced -451.5k	-451,466 -14.9%
10	PUBLIC SVC ENTERPRISE GRP IN COM PEG	PEG	1,583,744	$133.3m2.96%	2.96%	Added +271.5k	+271,452 20.7%
11	PINNACLE WEST CAP CORP COM PNW	PNW	1,487,921	$133.1m2.95%	2.95%	Reduced -21.6k	-21,590 -1.4%
12	CMS ENERGY CORP COM CMS	CMS	1,872,542	$129.7m2.88%	2.88%	Added +1.5m	+1,511,164 418.2%
13	PPL CORP COM PPL	PPL	3,820,760	$129.5m2.87%	2.87%	Reduced -319.2k	-319,225 -7.7%
14	EQUINIX INC COM EQIX	EQIX	158,766	$126.3m2.80%	2.80%	Added +1.1k	+1,112 0.7%
15	SEMPRA COM SRE	SRE	1,542,749	$116.9m2.59%	2.59%	Reduced -351.9k	-351,908 -18.6%
16	CAMECO CORP COM CCJ	CCJ	1,556,452	$115.5m2.56%	2.56%	Reduced -46.3k	-46,251 -2.9%
17	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	3,593,940	$111.4m2.47%	2.47%	Unchanged
18	QUANTA SVCS INC COM PWR	PWR	271,847	$102.8m2.28%	2.28%	Reduced -9.7k	-9,738 -3.5%
19	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	432,648	$101.6m2.25%	2.25%	Added +25.5k	+25,496 6.3%
20	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	197,021	$80.5m1.79%	1.79%	Added +57.9k	+57,868 41.6%
21	DT MIDSTREAM INC COMMON STOCK DTM	DTM	698,447	$76.8m1.70%	1.70%	Reduced -57.1k	-57,086 -7.6%
22	DTE ENERGY CO COM DTE	DTE	560,748	$74.3m1.65%	1.65%	Reduced -39.1k	-39,097 -6.5%
23	ALLIANT ENERGY CORP COM LNT	LNT	1,152,677	$69.7m1.55%	1.55%	Added +500.6k	+500,633 76.8%
24	UNION PAC CORP COM UNP	UNP	300,637	$69.2m1.53%	1.53%	Reduced -1.7k	-1,705 -0.6%
25	COMCAST CORP NEW CL A CMCSA	CMCSA	1,858,600	$66.3m1.47%	1.47%	Reduced -134.1k	-134,099 -6.7%
26	NEXTERA ENERGY INC COM NEE	NEE	894,026	$62.1m1.38%	1.38%	Reduced -115.0k	-114,998 -11.4%
27	NORFOLK SOUTHN CORP COM NSC	NSC	219,300	$56.1m1.24%	1.24%	Unchanged
28	OGE ENERGY CORP COM OGE	OGE	1,242,285	$55.1m1.22%	1.22%	Added +22.7k	+22,654 1.9%
29	ATMOS ENERGY CORP COM ATO	ATO	313,020	$48.2m1.07%	1.07%	Reduced -345.1k	-345,115 -52.4%
30	ONEOK INC NEW COM OKE	OKE	584,398	$47.7m1.06%	1.06%	Added +238.2k	+238,159 68.8%
31	WILLIAMS COS INC COM WMB	WMB	747,772	$47.0m1.04%	1.04%	Added +74.7k	+74,650 11.1%
32	VERTIV HOLDINGS CO COM CL A VRT	VRT	349,795	$44.9m1.00%	1.00%	Added +35.0k	+35,000 11.1%
33	AMEREN CORP COM AEE	AEE	453,820	$43.6m0.97%	0.97%	New
34	AMERICAN TOWER CORP NEW COM AMT	AMT	193,037	$42.7m0.95%	0.95%	Unchanged
35	COGENT COMMUNICATIONS HLDGS COM NEW CCOI	CCOI	819,953	$39.5m0.88%	0.88%	Added +11.9k	+11,892 1.5%
36	CENTRUS ENERGY CORP CL A LEU	LEU	208,935	$38.3m0.85%	0.85%	Reduced -19.8k	-19,761 -8.6%
37	T-MOBILE US INC COM TMUS	TMUS	154,297	$36.8m0.81%	0.81%	Reduced -59.7k	-59,652 -27.9%
38	MPLX LP COM UNIT REP LTD MPLX	MPLX	670,500	$34.5m0.77%	0.77%	Added +560.5k	+560,500 509.6%
39	MP MATERIALS CORP COM CL A MP	MP	965,000	$32.1m0.71%	0.71%	New
40	PG&E CORP COM PCG	PCG	2,179,421	$30.4m0.67%	0.67%	Reduced -1.1m	-1,059,000 -32.7%
41	DYCOM INDS INC COM DY	DY	121,665	$29.7m0.66%	0.66%	Reduced -19.4k	-19,443 -13.8%
42	FRONTIER COMMUNICATIONS PARE COM FYBR	FYBR	707,564	$25.8m0.57%	0.57%	Reduced -1.3k	-1,308 -0.2%
43	MARATHON PETE CORP COM MPC	MPC	150,000	$24.9m0.55%	0.55%	Unchanged
44	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	156,145	$21.7m0.48%	0.48%	Reduced -96.6k	-96,619 -38.2%
45	NRG ENERGY INC COM NEW NRG	NRG	132,597	$21.3m0.47%	0.47%	Added +65.4k	+65,364 97.2%
46	EQT CORP COM EQT	EQT	328,502	$19.2m0.42%	0.42%	Added +215.9k	+215,884 191.7%
47	DIGITAL RLTY TR INC COM DLR	DLR	74,740	$13.0m0.29%	0.29%	Added +34.1k	+34,150 84.1%
48	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	74,205	$12.0m0.27%	0.27%	Added +33.4k	+33,435 82.0%
49	GE VERNOVA INC COM GEV	GEV	20,000	$10.6m0.23%	0.23%	Unchanged
50	LINDE PLC SHS LIN	LIN	21,283	$10.0m0.22%	0.22%	Added +202	+202 1.0%
51	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	18,328	$8.9m0.20%	0.20%	Unchanged
52	JOHNSON CTLS INTL PLC SHS JCI	JCI	50,532	$5.3m0.12%	0.12%	Added +549	+549 1.1%
53	AT&T INC COM T	T	180,855	$5.2m0.12%	0.12%	Reduced -112.9k	-112,913 -38.4%
54	CHESAPEAKE UTILS CORP COM CPK	CPK	30,000	$3.6m0.08%	0.08%	Unchanged
55	REAVES UTIL INCOME FD COM SH BEN INT UTG	UTG	88,623	$3.2m0.07%	0.07%	Added +1.4k	+1,431 1.6%
56	CANADIAN NATL RY CO COM CNI	CNI	29,208	$3.0m0.07%	0.07%	Reduced -515	-515 -1.7%
57	LAMAR ADVERTISING CO NEW CL A LAMR	LAMR	25,000	$3.0m0.07%	0.07%	Unchanged
58	SOUTHERN CO COM SO	SO	30,048	$2.8m0.06%	0.06%	Reduced -4.3k	-4,350 -12.7%
59	EXXON MOBIL CORP COM XOM	XOM	17,910	$1.9m0.04%	0.04%	Reduced -329.0k	-328,980 -94.8%
60	CHEVRON CORP NEW COM CVX	CVX	11,115	$1.6m0.04%	0.04%	Reduced -55	-55 -0.5%
61	SCE Trust IV PFD EIX V0 PERP J	EIX V0 PERP J	63,125	$1.4m0.03%	0.03%	Unchanged
62	Deutsche Telekom AG ADR COM DTEGY	DTEGY	37,859	$1.4m0.03%	0.03%	Reduced -645	-645 -1.7%
63	APPLE INC COM AAPL	AAPL	4,800	$984.8k0.02%	0.02%	Unchanged
64	DUKE ENERGY CORP NEW COM NEW DUK	DUK	8,164	$963.4k0.02%	0.02%	Reduced -140	-140 -1.7%
65	PHILIP MORRIS INTL INC COM PM	PM	5,000	$910.6k0.02%	0.02%	Unchanged
66	MDU RES GROUP INC COM MDU	MDU	50,000	$833.5k0.02%	0.02%	Unchanged
67	EVERUS CONSTR GROUP COM ECG	ECG	12,500	$794.1k0.02%	0.02%	Unchanged
68	PROLOGIS INC. COM PLD	PLD	7,356	$773.3k0.02%	0.02%	Unchanged
69	CANADIAN PACIFIC KANSAS CITY COM CP	CP	9,344	$740.7k0.02%	0.02%	Unchanged
70	EXELON CORP COM EXC	EXC	16,840	$731.2k0.02%	0.02%	Reduced -1.0k	-1,000 -5.6%
71	NEW JERSEY RES CORP COM NJR	NJR	15,020	$673.2k0.01%	0.01%	Reduced -32.1k	-32,066 -68.1%
72	PPG INDS INC COM PPG	PPG	5,000	$568.8k0.01%	0.01%	Unchanged
73	JOHNSON & JOHNSON COM JNJ	JNJ	3,280	$501.0k0.01%	0.01%	Unchanged
74	ALTRIA GROUP INC COM MO	MO	8,000	$469.0k0.01%	0.01%	Unchanged
75	EDISON INTL COM EIX	EIX	6,590	$340.0k0.01%	0.01%	Reduced -769.2k	-769,232 -99.2%
76	NORTHWEST NAT HLDG CO COM NWN	NWN	5,909	$234.7k0.01%	0.01%	Reduced -20.0k	-20,035 -77.2%
77	VERIZON COMMUNICATIONS INC COM VZ	VZ	4,665	$201.9k0.00%	0.00%	Reduced -280.0k	-280,000 -98.4%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
AMERICAN ELEC PWR CO INC AEP	AEP	275,730	$30.1m275.7k shares
ALPHABET INC GOOGL	GOOGL	11,910	$1.8m11.9k shares
ALPHABET INC GOOG	GOOG	6,630	$1.0m6.6k shares
UNITED STATES CELLULAR CORP AD	AD	7,500	$518.6k7.5k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
RICE ACQUISITION CORP 3 KRSP.U · 13G · filed 2026-02-06	KRSP.U	8.0%≈ $25.7m	new	13G	2026-02-06