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WHRC

W.H. Reaves & Co Portfolio holdings

AUM $6.59B
1-Year Est. Return 31.9%
This Fund
S&P 500
This Quarter Est. Return
-3.69%
1 Year Est. Return
+31.9%
3 Year Est. Return
+110.59%
5 Year Est. Return
+109.01%
10 Year Est. Return
+209.13%
AUM
$5.72B
AUM Growth
+$103M
Cap. Flow
+$389M
Cap. Flow %
6.81%
Top 10 Hldgs %
51.65%
Holding
93
New
10
Increased
27
Reduced
32
Closed
6

Top Buys

Rank Stock Value
1
LNT icon
Alliant Energy
LNT
+$85.6M
2
NEE icon
NextEra Energy
NEE
+$60.9M
3
VST icon
Vistra
VST
+$50.8M
4
SRE icon
Sempra
SRE
+$49.6M
5
NRG icon
NRG Energy
NRG
+$45.7M

Top Sells

Rank Stock Value
1
PEG icon
Public Service Enterprise Group
PEG
+$110M
2
AWK icon
American Water Works
AWK
+$36.7M
3
CMCSA icon
Comcast
CMCSA
+$33.3M
4
CHTR icon
Charter Communications
CHTR
+$32.9M
5
UNP icon
Union Pacific
UNP
+$24.7M

Sector Composition

Rank Sector Weight
1 Utilities 71.85%
2 Energy 11.48%
3 Industrials 5.43%
4 Real Estate 4.7%
5 Materials 2.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SBAC icon
26
SBA Communications
SBAC
$19.5B
$70.1M 1.23%
362,464
-44,380
-11% -$8.57M
GLW icon
27
Corning
GLW
$143B
$66.5M 1.16%
759,075
+254,553
+50% +$21.9M
EQT icon
28
EQT Corp
EQT
$32.3B
$62.3M 1.09%
1,161,975
+132,741
+13% +$7.46M
DTE icon
29
DTE Energy
DTE
$29.1B
$53.9M 0.94%
417,526
-169,168
-29% -$23M
DY icon
30
Dycom Industries
DY
$12.3B
$48.4M 0.85%
143,212
-216
-0.2% -$68.1K
GEV icon
31
GE Vernova
GEV
$264B
$48M 0.84%
73,403
+58,403
+389% +$35.6M
PEG icon
32
Public Service Enterprise Group
PEG
$37.7B
$45.2M 0.79%
562,991
-1,343,505
-70% -$110M
LEU icon
33
Centrus Energy
LEU
$3.82B
$42.4M 0.74%
174,500
-34,289
-16% -$10.4M
WEC icon
34
WEC Energy
WEC
$35.1B
$39.8M 0.7%
377,501
+141,501
+60% +$15.7M
NSC icon
35
Norfolk Southern
NSC
$75.1B
$37.8M 0.66%
131,000
-32,700
-20% -$9.46M
MPLX icon
36
MPLX
MPLX
$59.7B
$35.8M 0.63%
670,500
– –
OKE icon
37
Oneok
OKE
$54.5B
$33.9M 0.59%
461,740
-122,383
-21% -$8.67M
TMUS icon
38
T-Mobile US
TMUS
$190B
$30.6M 0.54%
150,637
-1,115
-0.7% -$236K
CCI icon
39
Crown Castle
CCI
$32.2B
$29M 0.51%
326,798
-1,419
-0.4% -$131K
MPC icon
40
Marathon Petroleum
MPC
$83.7B
$27.2M 0.48%
167,000
+67,000
+67% +$12.5M
KRSP.U
41
Rice Acquisition Corp 3 Units
KRSP.U
$25.2M 0.44%
+2,400,000
New +$25.6M
NFG icon
42
National Fuel Gas
NFG
$7.65B
$25M 0.44%
+314,465
New +$25.9M
FYBR
43
DELISTED
Frontier Communications
FYBR
$22.4M 0.39%
587,933
-4,215
-0.7% -$159K
TIC
44
TIC Solutions Inc
TIC
$2.2B
$21.7M 0.38%
+2,149,991
New +$23.9M
CMCSA icon
45
Comcast
CMCSA
$90B
$20.6M 0.36%
690,100
-1,168,500
-63% -$33.3M
UNP icon
46
Union Pacific
UNP
$174B
$18.5M 0.32%
80,163
-108,375
-57% -$24.7M
AMT icon
47
American Tower
AMT
$80.4B
$17.2M 0.3%
98,037
– –
DLR icon
48
Digital Realty Trust
DLR
$71.7B
$14.6M 0.26%
94,303
+19,570
+26% +$3.21M
VRT icon
49
Vertiv
VRT
$105B
$13.4M 0.23%
82,880
-71,265
-46% -$12.4M
UTL icon
50
Unitil
UTL
$980M
$13.3M 0.23%
275,000
– –
1
2
3 4

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NMIMC
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HFS
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OCM
Oaktree Capital Management Los Angeles, California $6.56B AUM 42.97% 1-Year Est. Return
LAM
Lyrical Asset Management New York $6.56B AUM 20.06% 1-Year Est. Return
BF
BOK Financial Tulsa, Oklahoma $6.54B AUM 25.41% 1-Year Est. Return
AG
Algert Global San Francisco, California $6.65B AUM 53.68% 1-Year Est. Return
CG
Carmignac Gestion Paris, France $6.51B AUM 19.13% 1-Year Est. Return
TCM
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W.H. Reaves & Co's Q4 2025 Portfolio in Review

As of Q4 2025, W.H. Reaves & Co held 93 positions worth $5.72B, up 1.8% from $5.61B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

W.H. Reaves & Co deployed $389M of net new capital in Q4 2025, opening 10 new positions and adding to 27 existing holdings. Its largest new stake was National Fuel Gas: 314,465 shares worth $25M.

By sector, the portfolio is most concentrated in Utilities at 72% of assets, up from 71% a quarter earlier, followed by Energy and Industrials.

On the sell side, the largest reduction was Public Service Enterprise Group, an estimated $110M trimmed.

  • W.H. Reaves & Co's largest Q4 2025 buy was National Fuel Gas: 314,465 shares worth $25M.
  • W.H. Reaves & Co added most to Alliant Energy in Q4 2025, an estimated $85.6M increase.
  • W.H. Reaves & Co's biggest Q4 2025 reduction was Public Service Enterprise Group, cutting an estimated $110M.
  • W.H. Reaves & Co fully exited CSX Corp in Q4 2025, selling an estimated $5.33M.
  • W.H. Reaves & Co's ten largest holdings make up 52% of its $5.72B portfolio in Q4 2025.
  • W.H. Reaves & Co opened 10 new positions and closed 6 in Q4 2025.
  • W.H. Reaves & Co's portfolio value rose 1.8% quarter-over-quarter to $5.72B.

Based on W.H. Reaves & Co's 13F filing for Q4 2025, filed 10 Feb 2026.