REAVES W H & CO INC

JERSEY CITY, NJ · CIK 740913 · 13F filing filed 2025-11-06

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.

$5.6bn reported value +24.5% vs Q2 2025

83positions

50.5%in top 10

8 new 25 added 32 reduced 2 sold out vs Q2 2025

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

VIRTUS ADVISERS, LLC – files its own report too; $3.0m of shares are in both

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

Holdings, Q3 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	1,410,537	$600.0m10.69%	10.69%	Added +158.0k	+158,047 12.6%
2	VISTRA CORP COM VST	VST	1,918,529	$375.9m6.70%	6.70%	Added +350.3k	+350,270 22.3%
3	CONSTELLATION ENERGY CORP COM CEG	CEG	1,015,379	$334.1m5.95%	5.95%	Added +192.1k	+192,051 23.3%
4	CENTERPOINT ENERGY INC COM CNP	CNP	7,220,266	$280.1m4.99%	4.99%	Added +962.9k	+962,910 15.4%
5	XCEL ENERGY INC COM XEL	XEL	3,164,159	$255.2m4.55%	4.55%	Added +647.8k	+647,834 25.8%
6	IDACORP INC COM IDA	IDA	1,700,680	$224.7m4.00%	4.00%	Added +133.8k	+133,836 8.5%
7	NISOURCE INC COM NI	NI	5,009,644	$216.9m3.86%	3.86%	Added +1.3m	+1,287,745 34.6%
8	ENTERGY CORP NEW COM ETR	ETR	2,288,367	$213.3m3.80%	3.80%	Added +310.6k	+310,589 15.7%
9	MP MATERIALS CORP COM CL A MP	MP	2,589,908	$173.7m3.09%	3.09%	Added +1.6m	+1,624,908 168.4%
10	PINNACLE WEST CAP CORP COM PNW	PNW	1,804,114	$161.8m2.88%	2.88%	Added +316.2k	+316,193 21.2%
11	PPL CORP COM PPL	PPL	4,336,283	$161.1m2.87%	2.87%	Added +515.5k	+515,523 13.5%
12	PUBLIC SVC ENTERPRISE GRP IN COM PEG	PEG	1,906,496	$159.1m2.83%	2.83%	Added +322.8k	+322,752 20.4%
13	CMS ENERGY CORP COM CMS	CMS	2,149,018	$157.4m2.80%	2.80%	Added +276.5k	+276,476 14.8%
14	TXNM ENERGY INC COM TXNM	TXNM	2,551,398	$144.3m2.57%	2.57%	Reduced -20.3k	-20,282 -0.8%
15	SEMPRA COM SRE	SRE	1,595,828	$143.6m2.56%	2.56%	Added +53.1k	+53,079 3.4%
16	EQUINIX INC COM EQIX	EQIX	158,626	$124.2m2.21%	2.21%	Reduced -140	-140 -0.1%
17	CAMECO CORP COM CCJ	CCJ	1,455,779	$122.1m2.17%	2.17%	Reduced -100.7k	-100,673 -6.5%
18	ALLIANT ENERGY CORP COM LNT	LNT	1,779,087	$119.9m2.14%	2.14%	Added +626.4k	+626,410 54.3%
19	QUANTA SVCS INC COM PWR	PWR	270,962	$112.3m2.00%	2.00%	Reduced -885	-885 -0.3%
20	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	3,493,940	$109.3m1.95%	1.95%	Reduced -100.0k	-100,000 -2.8%
21	AMEREN CORP COM AEE	AEE	964,012	$100.6m1.79%	1.79%	Added +510.2k	+510,192 112.4%
22	DTE ENERGY CO COM DTE	DTE	586,694	$83.0m1.48%	1.48%	Added +25.9k	+25,946 4.6%
23	DT MIDSTREAM INC COMMON STOCK DTM	DTM	697,426	$78.9m1.40%	1.40%	Reduced -1.0k	-1,021 -0.1%
24	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	406,844	$78.7m1.40%	1.40%	Reduced -25.8k	-25,804 -6.0%
25	WILLIAMS COS INC COM WMB	WMB	1,089,227	$69.0m1.23%	1.23%	Added +341.5k	+341,455 45.7%
26	CENTRUS ENERGY CORP CL A LEU	LEU	208,789	$64.7m1.15%	1.15%	Reduced -146	-146 -0.1%
27	OGE ENERGY CORP COM OGE	OGE	1,335,747	$61.8m1.10%	1.10%	Added +93.5k	+93,462 7.5%
28	COMCAST CORP NEW CL A CMCSA	CMCSA	1,858,600	$58.4m1.04%	1.04%	Unchanged
29	EQT CORP COM EQT	EQT	1,029,234	$56.0m1.00%	1.00%	Added +700.7k	+700,732 213.3%
30	NORFOLK SOUTHN CORP COM NSC	NSC	163,700	$49.2m0.88%	0.88%	Reduced -55.6k	-55,600 -25.4%
31	NRG ENERGY INC COM NEW NRG	NRG	295,471	$47.9m0.85%	0.85%	Added +162.9k	+162,874 122.8%
32	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	170,920	$47.0m0.84%	0.84%	Reduced -26.1k	-26,101 -13.2%
33	NEXTERA ENERGY INC COM NEE	NEE	593,761	$44.8m0.80%	0.80%	Reduced -300.3k	-300,265 -33.6%
34	UNION PAC CORP COM UNP	UNP	188,538	$44.6m0.79%	0.79%	Reduced -112.1k	-112,099 -37.3%
35	ONEOK INC NEW COM OKE	OKE	584,123	$42.6m0.76%	0.76%	Reduced -275	-275 -0.1%
36	DYCOM INDS INC COM DY	DY	143,428	$41.8m0.75%	0.75%	Added +21.8k	+21,763 17.9%
37	CORNING INC COM GLW	GLW	504,522	$41.4m0.74%	0.74%	New
38	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	281,145	$39.1m0.70%	0.70%	Added +125.0k	+125,000 80.0%
39	T-MOBILE US INC COM TMUS	TMUS	151,752	$36.3m0.65%	0.65%	Reduced -2.5k	-2,545 -1.6%
40	MPLX LP COM UNIT REP LTD MPLX	MPLX	670,500	$33.5m0.60%	0.60%	Unchanged
41	CROWN CASTLE INC COM CCI	CCI	328,217	$31.7m0.56%	0.56%	New
42	WEC ENERGY GROUP INC COM WEC	WEC	236,000	$27.0m0.48%	0.48%	New
43	VERTIV HOLDINGS CO COM CL A VRT	VRT	154,145	$23.3m0.41%	0.41%	Reduced -195.7k	-195,650 -55.9%
44	FRONTIER COMMUNICATIONS PARE COM FYBR	FYBR	592,148	$22.1m0.39%	0.39%	Reduced -115.4k	-115,416 -16.3%
45	MARATHON PETE CORP COM MPC	MPC	100,000	$19.3m0.34%	0.34%	Reduced -50.0k	-50,000 -33.3%
46	AMERICAN TOWER CORP NEW COM AMT	AMT	98,037	$18.9m0.34%	0.34%	Reduced -95.0k	-95,000 -49.2%
47	ATMOS ENERGY CORP COM ATO	ATO	105,186	$18.0m0.32%	0.32%	Reduced -207.8k	-207,834 -66.4%
48	COGENT COMMUNICATIONS HLDGS COM NEW CCOI	CCOI	423,098	$16.2m0.29%	0.29%	Reduced -396.9k	-396,855 -48.4%
49	UNITIL CORP COM UTL	UTL	275,000	$13.2m0.23%	0.23%	New
50	DIGITAL RLTY TR INC COM DLR	DLR	74,733	$12.9m0.23%	0.23%	Reduced -7	-7 -0.0%
51	DUKE ENERGY CORP NEW COM NEW DUK	DUK	99,459	$12.3m0.22%	0.22%	Added +91.3k	+91,295 1118.3%
52	WATERBRIDGE INFRASTRUCTURE L CL A SHS REPSTG WBI	WBI	450,000	$11.3m0.20%	0.20%	New
53	LINDE PLC SHS LIN	LIN	21,239	$10.1m0.18%	0.18%	Reduced -44	-44 -0.2%
54	GE VERNOVA INC COM GEV	GEV	15,000	$9.2m0.16%	0.16%	Reduced -5.0k	-5,000 -25.0%
55	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	17,751	$8.9m0.16%	0.16%	Reduced -577	-577 -3.1%
56	JOHNSON CTLS INTL PLC SHS JCI	JCI	50,698	$5.6m0.10%	0.10%	Added +166	+166 0.3%
57	CSX CORP COM CSX	CSX	150,000	$5.3m0.09%	0.09%	New
58	AT&T INC COM T	T	180,652	$5.1m0.09%	0.09%	Reduced -203	-203 -0.1%
59	CHESAPEAKE UTILS CORP COM CPK	CPK	30,000	$4.0m0.07%	0.07%	Unchanged
60	REAVES UTIL INCOME FD COM SH BEN INT UTG	UTG	82,060	$3.3m0.06%	0.06%	Reduced -6.6k	-6,563 -7.4%
61	LAMAR ADVERTISING CO NEW CL A LAMR	LAMR	25,000	$3.1m0.05%	0.05%	Unchanged
62	SOUTHERN CO COM SO	SO	30,048	$2.8m0.05%	0.05%	Unchanged
63	CANADIAN NATL RY CO COM CNI	CNI	28,796	$2.7m0.05%	0.05%	Reduced -412	-412 -1.4%
64	EXXON MOBIL CORP COM XOM	XOM	17,910	$2.0m0.04%	0.04%	Unchanged
65	CHEVRON CORP NEW COM CVX	CVX	11,115	$1.7m0.03%	0.03%	Unchanged
66	PG&E CORP COM PCG	PCG	106,570	$1.6m0.03%	0.03%	Reduced -2.1m	-2,072,851 -95.1%
67	SCE Trust IV PFD EIX V0 PERP J	EIX V0 PERP J	63,125	$1.5m0.03%	0.03%	Unchanged
68	Deutsche Telekom AG ADR COM DTEGY	DTEGY	37,859	$1.3m0.02%	0.02%	Unchanged
69	APPLE INC COM AAPL	AAPL	4,800	$1.2m0.02%	0.02%	Unchanged
70	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	8,200	$1.2m0.02%	0.02%	Reduced -66.0k	-66,005 -89.0%
71	LITHIUM AMERS CORP NEW COM SHS LAC	LAC	200,000	$1.1m0.02%	0.02%	New
72	EVERUS CONSTR GROUP COM ECG	ECG	12,500	$1.1m0.02%	0.02%	Unchanged
73	PROLOGIS INC. COM PLD	PLD	7,356	$842.4k0.02%	0.02%	Unchanged
74	PHILIP MORRIS INTL INC COM PM	PM	5,000	$811.0k0.01%	0.01%	Unchanged
75	EVERGY INC COM EVRG	EVRG	9,924	$754.4k0.01%	0.01%	New
76	EXELON CORP COM EXC	EXC	16,365	$736.6k0.01%	0.01%	Reduced -475	-475 -2.8%
77	NEW JERSEY RES CORP COM NJR	NJR	15,020	$723.2k0.01%	0.01%	Unchanged
78	CANADIAN PACIFIC KANSAS CITY COM CP	CP	9,344	$696.0k0.01%	0.01%	Unchanged
79	JOHNSON & JOHNSON COM JNJ	JNJ	3,278	$607.8k0.01%	0.01%	Reduced -2	-2 -0.1%
80	ALTRIA GROUP INC COM MO	MO	8,000	$528.5k0.01%	0.01%	Unchanged
81	PPG INDS INC COM PPG	PPG	5,000	$525.5k0.01%	0.01%	Unchanged
82	EDISON INTL COM EIX	EIX	6,520	$360.4k0.01%	0.01%	Reduced -70	-70 -1.1%
83	VERIZON COMMUNICATIONS INC COM VZ	VZ	4,665	$205.0k0.00%	0.00%	Unchanged

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
MDU RES GROUP INC MDU	MDU	50,000	$833.5k50.0k shares
NORTHWEST NAT HLDG CO NWN	NWN	5,909	$234.7k5.9k 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