Reaves W H & Co. Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Reaves W H & Co. Inc. reported 78 stock positions worth $3.9 billion. Its top holding was Talen Energy (TLN) at 6.2% of the portfolio, followed by Entergy (ETR, 5.1%) and Vistra (VST, 4.4%). Compared with Q4 2024, it opened 6 new positions, added to 33 and reduced 21. The biggest buy was Centerpoint Energy (CNP, shares +58%) and the biggest sale CMS Energy (CMS, shares −72%).

Most Recent 13F
Q2 2026
Location
JERSEY CITY, NJ
CIK
0000740913
Portfolio Value
$3.9B (Q1 2025)
SEC Filing
0000740913-25-000008 ↗ filed May 9, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $2.7B Q1 2024 Q2 2024: $3.0B Q2 2024 Q3 2024: $3.7B Q3 2024 Q4 2024: $3.8B Q4 2024 Q1 2025: $3.9B $3.9B Q1 2025 Q2 2025: $4.5B Q2 2025 Q3 2025: $5.6B Q3 2025 Q4 2025: $5.7B Q4 2025 Q1 2026: $6.0B Q1 2026 Q2 2026: $6.6B Q2 2026

Holdings 78 stocks · $3.9B
TLN Talen Energy Corp. 6.17% 1,213,007 $242.2M Reduce -4.5%
ETR Entergy Corp. 5.06% 2,326,855 $198.9M Add +15.6%
VST Vistra Corp. 4.44% 1,484,344 $174.3M Reduce -9.5%
NI Nisource Inc. 4.24% 4,153,470 $166.5M Add +3.2%
XEL Xcel Energy Inc. 4.15% 2,300,559 $162.9M Add +58.0%
TXNM TXNM Energy Inc. 4.12% 3,023,146 $161.7M Add +3.9%
CNP Centerpoint Energy Inc. 4.04% 4,385,632 $158.9M Add +58.4%
PPL PPL Corp. 3.81% 4,139,985 $149.5M Add +4.8%
CEG Constellation Energy 3.72% 724,061 $146.0M Reduce -13.6%
IDA Idacorp Inc. 3.69% 1,247,925 $145.0M Add +25.0%
PNW Pinnacle West Capital 3.66% 1,509,511 $143.8M Add +8.5%
SRE Sempra 3.44% 1,894,657 $135.2M Add +43.8%
EQIX Equinix Inc. 3.27% 157,654 $128.5M Add +36.1%
EPD Enterprise Products Partners 3.12% 3,593,940 $122.7M No change
PEG Public Service Enterprise GP 2.75% 1,312,292 $108.0M Add +58.4%
ATO Atmos Energy Corp. 2.59% 658,135 $101.7M Add +6.5%
SBAC SBA Communications Corp. 2.28% 407,152 $89.6M Reduce -5.9%
DTE DTE Energy Company 2.11% 599,845 $82.9M Reduce -31.9%
CMCSA Comcast Corp. Class A 1.87% 1,992,699 $73.5M Reduce -8.8%
DTM DT Midstream Inc. 1.86% 755,533 $72.9M Reduce -23.1%
PWR Quanta Services Inc. 1.82% 281,585 $71.6M Add +9.8%
NEE Nextera Energy Inc. 1.82% 1,009,024 $71.5M Reduce -39.4%
UNP Union Pacific Corp. 1.82% 302,342 $71.4M Reduce -0.3%
CCJ Cameco Corp. 1.68% 1,602,703 $66.0M Add +11.4%
TMUS T-Mobile US Inc. 1.45% 213,949 $57.1M Reduce -31.4%
OGE Oge Energy Corp. 1.43% 1,219,631 $56.1M Reduce -0.5%
PCG P G & E Corp. 1.42% 3,238,421 $55.6M Reduce -8.4%
NSC Norfolk Southern Corp. 1.32% 219,300 $51.9M No change
CHTR Charter Communications Inc. Class A 1.31% 139,153 $51.3M Add +13.9%
CCOI Cogent Communications Holdin 1.26% 808,061 $49.5M Add +15.7%
EIX Edison International 1.16% 775,822 $45.7M Add +0.1%
AMT American Tower Corp. 1.07% 193,037 $42.0M Reduce -0.2%
LNT Alliant Energy Corp. 1.07% 652,044 $42.0M Reduce -17.1%
XOM Exxon Mobil Corp. 1.05% 346,890 $41.3M Add +6.4%
WMB Williams Cos Inc. 1.02% 673,122 $40.2M Reduce -41.0%
AWK American Water Works Co. Inc. 0.95% 252,764 $37.3M No change
OKE Oneok Inc. 0.87% 346,239 $34.4M Add +17.5%
AEP American Electric Power 0.77% 275,730 $30.1M New
CMS CMS Energy Corp. 0.69% 361,378 $27.1M Reduce -71.7%
FYBR Frontier Communications Pare 0.65% 708,872 $25.4M Add +0.1%
VRT Vertiv Holdings Co. Class A 0.58% 314,795 $22.7M No change
MPC Marathon Petroleum Corp. 0.56% 150,000 $21.9M Add +11.1%
DY Dycom Industries Inc. 0.55% 141,108 $21.5M Add +20.2%
LEU Centrus Energy Corp. Class A 0.36% 228,696 $14.2M Add +0.1%
VZ Verizon Communications Inc. 0.33% 284,665 $12.9M Reduce -38.7%
LIN Linde PLC 0.25% 21,081 $9.8M Reduce -2.4%
BRK.B Berkshire Hathaway Inc. Class B 0.25% 18,328 $9.8M No change
T AT&T Inc. 0.21% 293,768 $8.3M New
ODFL Old Dominion Freight Line 0.17% 40,770 $6.7M Add +18.6%
NRG NRG Energy Inc. 0.16% 67,233 $6.4M New
GEV GE Vernova Inc. 0.16% 20,000 $6.1M New
EQT Eqt Corp. 0.15% 112,618 $6.0M New
MPLX MPLX LP 0.15% 110,000 $5.9M Add +340.0%
DLR Digital Realty Trust Inc. 0.15% 40,590 $5.8M Add +33.3%
JCI Johnson Controls Internation 0.10% 49,983 $4.0M Add +16.9%
CPK Chesapeake Utilities Corp. 0.10% 30,000 $3.9M No change
SO The Southern Co. 0.08% 34,398 $3.2M Reduce -17.6%
CNI Canadian Natl Railway Co. 0.07% 29,723 $2.9M No change
LAMR Lamar Advertising Co. Class A 0.07% 25,000 $2.8M New
UTG Reaves Utility Income Fund 0.07% 87,192 $2.8M Add +1.7%
NJR New Jersey Resources Corp. 0.06% 47,086 $2.3M Add +276.5%
CVX Chevron Corp. 0.05% 11,170 $1.9M Add +5.1%
GOOGL Alphabet Inc. Class A 0.05% 11,910 $1.8M No change
DTEGY Deutsche Telekom AG-Spon ADR 0.04% 38,504 $1.4M Add +15.1%
NWN Northwest Natural Holding Co. 0.03% 25,944 $1.1M Add +3.1%
AAPL Apple Inc. 0.03% 4,800 $1.1M No change
GOOG Alphabet Inc. Class C 0.03% 6,630 $1.0M No change
DUK Duke Energy Corp. 0.03% 8,304 $1.0M Add +15.1%
MDU Mdu Resources Group Inc. 0.02% 50,000 $846K No change
PLD Prologis Inc. 0.02% 7,356 $822K Reduce -5.2%
EXC Exelon Corp. 0.02% 17,840 $822K No change
PM Philip Morris International 0.02% 5,000 $794K No change
CP Canadian Pacific Kansas City 0.02% 9,344 $656K Reduce -89.2%
PPG PPG Industries Inc. 0.01% 5,000 $547K No change
JNJ Johnson & Johnson 0.01% 3,280 $544K No change
AD Array Digital Infrastructure filed as UNITED STATES CELLULAR CORP 0.01% 7,500 $519K No change
MO Altria Group Inc. 0.01% 8,000 $480K No change
ECG Everus Construction Group 0.01% 12,500 $464K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.4M (not counted above)
SecurityClassShares / PrincipalValueChange
SCE TRUST IV (EIX V0 PERP J) PFD 63,125$1.4MNo change

Total filed on the 13F, all lines: $3.9B.

Portfolio Sells Q4 2024 → Q1 2025
CMS CMS Energy Corp. Reduce -71.7% 0.69% −1.56
VST Vistra Corp. Reduce -9.5% 4.44% −1.53
NEE Nextera Energy Inc. Reduce -39.4% 1.82% −1.33
CEG Constellation Energy Reduce -13.6% 3.72% −1.23
DTM DT Midstream Inc. Reduce -23.1% 1.86% −0.72
DTE DTE Energy Company Reduce -31.9% 2.11% −0.70
WMB Williams Cos Inc. Reduce -41.0% 1.02% −0.60
TLN Talen Energy Corp. Reduce -4.5% 6.17% −0.59
PCG P G & E Corp. Reduce -8.4% 1.42% −0.46
TMUS T-Mobile US Inc. Reduce -31.4% 1.45% −0.36
CMCSA Comcast Corp. Class A Reduce -8.8% 1.87% −0.29
VZ Verizon Communications Inc. Reduce -38.7% 0.33% −0.16
LNT Alliant Energy Corp. Reduce -17.1% 1.07% −0.16
CP Canadian Pacific Kansas City Reduce -89.2% 0.02% −0.15
SBAC SBA Communications Corp. Reduce -5.9% 2.28% −0.04
SO The Southern Co. Reduce -17.6% 0.08% −0.01
UNP Union Pacific Corp. Reduce -0.3% 1.82% −0.01
PLD Prologis Inc. Reduce -5.2% 0.02% −0.00
LIN Linde PLC Reduce -2.4% 0.25% +0.01
OGE Oge Energy Corp. Reduce -0.5% 1.43% +0.09
AMT American Tower Corp. Reduce -0.2% 1.07% +0.13

Portfolio Buys Q4 2024 → Q1 2025
CNP Centerpoint Energy Inc. Add +58.4% 4.04% +1.73
XEL Xcel Energy Inc. Add +58.0% 4.15% +1.55
ETR Entergy Corp. Add +15.6% 5.06% +1.04
PEG Public Service Enterprise GP Add +58.4% 2.75% +0.90
IDA Idacorp Inc. Add +25.0% 3.69% +0.81
AEP American Electric Power New 0.77% +0.77
PNW Pinnacle West Capital Add +8.5% 3.66% +0.55
PPL PPL Corp. Add +4.8% 3.81% +0.42
SRE Sempra Add +43.8% 3.44% +0.39
EQIX Equinix Inc. Add +36.1% 3.27% +0.39
TXNM TXNM Energy Inc. Add +3.9% 4.12% +0.34
NI Nisource Inc. Add +3.2% 4.24% +0.34
ATO Atmos Energy Corp. Add +6.5% 2.59% +0.32
T AT&T Inc. New 0.21% +0.21
CHTR Charter Communications Inc. Class A Add +13.9% 1.31% +0.20
NRG NRG Energy Inc. New 0.16% +0.16
GEV GE Vernova Inc. New 0.16% +0.16
EQT Eqt Corp. New 0.15% +0.15
XOM Exxon Mobil Corp. Add +6.4% 1.05% +0.13
MPLX MPLX LP Add +340.0% 0.15% +0.12
OKE Oneok Inc. Add +17.5% 0.87% +0.09
LAMR Lamar Advertising Co. Class A New 0.07% +0.07
MPC Marathon Petroleum Corp. Add +11.1% 0.56% +0.06
NJR New Jersey Resources Corp. Add +276.5% 0.06% +0.04
JCI Johnson Controls Internation Add +16.9% 0.10% +0.01
ODFL Old Dominion Freight Line Add +18.6% 0.17% +0.01
DTEGY Deutsche Telekom AG-Spon ADR Add +15.1% 0.04% +0.01
DY Dycom Industries Inc. Add +20.2% 0.55% +0.01
CVX Chevron Corp. Add +5.1% 0.05% +0.01
DLR Digital Realty Trust Inc. Add +33.3% 0.15% +0.01
DUK Duke Energy Corp. Add +15.1% 0.03% +0.01
NWN Northwest Natural Holding Co. Add +3.1% 0.03% +0.00
UTG Reaves Utility Income Fund Add +1.7% 0.07% +0.00
FYBR Frontier Communications Pare Add +0.1% 0.65% −0.00
LEU Centrus Energy Corp. Class A Add +0.1% 0.36% −0.04
CCOI Cogent Communications Holdin Add +15.7% 1.26% −0.16
CCJ Cameco Corp. Add +11.4% 1.68% −0.27
PWR Quanta Services Inc. Add +9.8% 1.82% −0.32
EIX Edison International Add +0.1% 1.16% −0.47

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 94$6.6BTLN, ETR, VST, CEG, CNP
Q1 2026 90$6.0BTLN, CEG, VST, CNP, XEL
Q4 2025 87$5.7BTLN, CEG, VST, CNP, XEL
Q3 2025 82$5.6BTLN, VST, CEG, CNP, XEL
Q2 2025 76$4.5BTLN, VST, CEG, CNP, IDA
Q1 2025 78$3.9BTLN, ETR, VST, NI, XEL
Q4 2024 72$3.8BTLN, VST, CEG, ETR, NI
Q3 2024 76$3.7BTLN, CEG, VST, ETR, CNP
Q2 2024 76$3.0BCEG, TLN, VST, CNP, NI
Q1 2024 70$2.7BCEG, PEG, NI, CNP, CMS