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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
WBI
51
WaterBridge Infrastructure LLC
WBI
$1.5B
$9M 0.16%
450,000
– –
BRK.B icon
52
Berkshire Hathaway Class B
BRK.B
$1.13T
$8.92M 0.16%
17,751
– –
LITE icon
53
Lumentum
LITE
$69.3B
$7.56M 0.13%
+20,500
New +$5.26M
JCI icon
54
Johnson Controls International
JCI
$92.2B
$5.99M 0.1%
49,996
-702
-1% -$80.6K
CCOI icon
55
Cogent Communications
CCOI
$508M
$5.59M 0.1%
259,098
-164,000
-39% -$4.84M
CHTR icon
56
Charter Communications
CHTR
$18.2B
$5.11M 0.09%
24,500
-146,420
-86% -$32.9M
COHR icon
57
Coherent
COHR
$74.2B
$4.8M 0.08%
+26,000
New +$3.89M
LAC
58
Lithium Americas
LAC
$1.17B
$4.53M 0.08%
1,040,000
+840,000
+420% +$4.85M
IRM icon
59
Iron Mountain
IRM
$36.1B
$4.47M 0.08%
+53,900
New +$5.04M
CPK icon
60
Chesapeake Utilities
CPK
$3.21B
$3.74M 0.07%
30,000
– –
LAMR icon
61
Lamar Advertising Co
LAMR
$16.3B
$3.16M 0.06%
25,000
– –
ANET icon
62
Arista Networks
ANET
$238B
$3.06M 0.05%
+23,336
New +$3.21M
UTG icon
63
Reaves Utility Income Fund
UTG
$3.61B
$3.05M 0.05%
83,326
+1,266
+2% +$48.1K
ATO icon
64
Atmos Energy
ATO
$28.8B
$2.8M 0.05%
16,678
-88,508
-84% -$15.3M
TBN
65
Tamboran Resources
TBN
$1.17B
$2.72M 0.05%
+100,000
New +$2.54M
XOM icon
66
ExxonMobil
XOM
$634B
$2.16M 0.04%
17,910
– –
SO icon
67
Southern Company
SO
$107B
$2.15M 0.04%
24,648
-5,400
-18% -$493K
LIN icon
68
Linde
LIN
$226B
$1.86M 0.03%
4,352
-16,887
-80% -$7.23M
PCG icon
69
PG&E
PCG
$38.5B
$1.59M 0.03%
99,104
-7,466
-7% -$119K
CVX icon
70
Chevron
CVX
$366B
$1.39M 0.02%
9,115
-2,000
-18% -$305K
AAPL icon
71
Apple
AAPL
$4.57T
$1.3M 0.02%
4,800
– –
DT
72
DELISTED
DEUTSCHE TELEKOM AG ADS (1ORD)
DT
$1.23M 0.02%
37,859
– –
ECG
73
Everus Construction Group
ECG
$6.99B
$1.07M 0.02%
12,500
– –
DUK icon
74
Duke Energy
DUK
$97.3B
$957K 0.02%
8,164
-91,295
-92% -$11.1M
PLD icon
75
Prologis
PLD
$133B
$939K 0.02%
7,356
– –
1 2
3
4

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NMIMC
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HFS
Hantz Financial Services Southfield, Michigan $6.56B AUM 16.11% 1-Year Est. Return
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
Tenor Capital Management New York $6.49B AUM 3% 1-Year Est. Return

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.