Reaves W H & Co. Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Reaves W H & Co. Inc. reported 82 stock positions worth $5.6 billion. Its top holding was Talen Energy (TLN) at 10.7% of the portfolio, followed by Vistra (VST, 6.7%) and Constellation Energy (CEG, 6.0%). Compared with Q2 2025, it opened 8 new positions, sold out of 2, added to 25 and reduced 32. The biggest buy was Talen Energy (TLN, shares +13%) and the biggest sale Charter Communications Class A (CHTR, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- JERSEY CITY, NJ
- CIK
- 0000740913
- Portfolio Value
- $5.6B (Q3 2025)
- SEC Filing
- 0000740913-25-000012 ↗ filed Nov 6, 2025
Holdings Value
Holdings 82 stocks · $5.6B
| TLN Talen Energy Corp. | 10.69% | 1,410,537 | $600.0M | Add +12.6% |
| VST Vistra Corp. | 6.70% | 1,918,529 | $375.9M | Add +22.3% |
| CEG Constellation Energy | 5.95% | 1,015,379 | $334.1M | Add +23.3% |
| CNP Centerpoint Energy Inc. | 4.99% | 7,220,266 | $280.1M | Add +15.4% |
| XEL Xcel Energy Inc. | 4.55% | 3,164,159 | $255.2M | Add +25.8% |
| IDA Idacorp Inc. | 4.00% | 1,700,680 | $224.7M | Add +8.5% |
| NI Nisource Inc. | 3.86% | 5,009,644 | $216.9M | Add +34.6% |
| ETR Entergy Corp. | 3.80% | 2,288,367 | $213.3M | Add +15.7% |
| MP MP Materials Corp. | 3.09% | 2,589,908 | $173.7M | Add +168.4% |
| PNW Pinnacle West Capital | 2.88% | 1,804,114 | $161.8M | Add +21.3% |
| PPL PPL Corp. | 2.87% | 4,336,283 | $161.1M | Add +13.5% |
| PEG Public Service Enterprise GP | 2.83% | 1,906,496 | $159.1M | Add +20.4% |
| CMS CMS Energy Corp. | 2.81% | 2,149,018 | $157.4M | Add +14.8% |
| TXNM TXNM Energy Inc. | 2.57% | 2,551,398 | $144.3M | Reduce -0.8% |
| SRE Sempra | 2.56% | 1,595,828 | $143.6M | Add +3.4% |
| EQIX Equinix Inc. | 2.21% | 158,626 | $124.2M | Reduce -0.1% |
| CCJ Cameco Corp. | 2.18% | 1,455,779 | $122.1M | Reduce -6.5% |
| LNT Alliant Energy Corp. | 2.14% | 1,779,087 | $119.9M | Add +54.3% |
| PWR Quanta Services Inc. | 2.00% | 270,962 | $112.3M | Reduce -0.3% |
| EPD Enterprise Products Partners | 1.95% | 3,493,940 | $109.3M | Reduce -2.8% |
| AEE Ameren Corporation | 1.79% | 964,012 | $100.6M | Add +112.4% |
| DTE DTE Energy Company | 1.48% | 586,694 | $83.0M | Add +4.6% |
| DTM DT Midstream Inc. | 1.40% | 697,426 | $78.9M | Reduce -0.1% |
| SBAC SBA Communications Corp. | 1.40% | 406,844 | $78.7M | Reduce -6.0% |
| WMB Williams Cos Inc. | 1.23% | 1,089,227 | $69.0M | Add +45.7% |
| LEU Centrus Energy Corp. Class A | 1.15% | 208,789 | $64.7M | Reduce -0.1% |
| OGE Oge Energy Corp. | 1.10% | 1,335,747 | $61.8M | Add +7.5% |
| CMCSA Comcast Corp. Class A | 1.04% | 1,858,600 | $58.4M | No change |
| EQT Eqt Corp. | 1.00% | 1,029,234 | $56.0M | Add +213.3% |
| NSC Norfolk Southern Corp. | 0.88% | 163,700 | $49.2M | Reduce -25.4% |
| NRG NRG Energy Inc. | 0.85% | 295,471 | $47.9M | Add +122.8% |
| CHTR Charter Communications Inc. Class A | 0.84% | 170,920 | $47.0M | Reduce -13.3% |
| NEE Nextera Energy Inc. | 0.80% | 593,761 | $44.8M | Reduce -33.6% |
| UNP Union Pacific Corp. | 0.79% | 188,538 | $44.6M | Reduce -37.3% |
| OKE Oneok Inc. | 0.76% | 584,123 | $42.6M | Reduce -0.1% |
| DY Dycom Industries Inc. | 0.75% | 143,428 | $41.8M | Add +17.9% |
| GLW Corning Inc. | 0.74% | 504,522 | $41.4M | New |
| AWK American Water Works Co. Inc. | 0.70% | 281,145 | $39.1M | Add +80.0% |
| TMUS T-Mobile US Inc. | 0.65% | 151,752 | $36.3M | Reduce -1.6% |
| MPLX MPLX LP | 0.60% | 670,500 | $33.5M | No change |
| CCI Crown Castle Inc. | 0.56% | 328,217 | $31.7M | New |
| WEC WEC Energy Group Inc. | 0.48% | 236,000 | $27.0M | New |
| VRT Vertiv Holdings Co. Class A | 0.41% | 154,145 | $23.3M | Reduce -55.9% |
| FYBR Frontier Communications Pare | 0.39% | 592,148 | $22.1M | Reduce -16.3% |
| MPC Marathon Petroleum Corp. | 0.34% | 100,000 | $19.3M | Reduce -33.3% |
| AMT American Tower Corp. | 0.34% | 98,037 | $18.9M | Reduce -49.2% |
| ATO Atmos Energy Corp. | 0.32% | 105,186 | $18.0M | Reduce -66.4% |
| CCOI Cogent Communications Holdin | 0.29% | 423,098 | $16.2M | Reduce -48.4% |
| UTL Unitil Corp. | 0.23% | 275,000 | $13.2M | New |
| DLR Digital Realty Trust Inc. | 0.23% | 74,733 | $12.9M | Reduce -0.0% |
| DUK Duke Energy Corp. | 0.22% | 99,459 | $12.3M | Add +1118.3% |
| WBI Waterbridge Infrastruc Class A | 0.20% | 450,000 | $11.3M | New |
| LIN Linde PLC | 0.18% | 21,239 | $10.1M | Reduce -0.2% |
| GEV GE Vernova Inc. | 0.16% | 15,000 | $9.2M | Reduce -25.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.16% | 17,751 | $8.9M | Reduce -3.1% |
| JCI Johnson Controls Internation | 0.10% | 50,698 | $5.6M | Add +0.3% |
| CSX CSX Corp. | 0.09% | 150,000 | $5.3M | New |
| T AT&T Inc. | 0.09% | 180,652 | $5.1M | Reduce -0.1% |
| CPK Chesapeake Utilities Corp. | 0.07% | 30,000 | $4.0M | No change |
| UTG Reaves Utility Income Fund | 0.06% | 82,060 | $3.3M | Reduce -7.4% |
| LAMR Lamar Advertising Co. Class A | 0.05% | 25,000 | $3.1M | No change |
| SO The Southern Co. | 0.05% | 30,048 | $2.8M | No change |
| CNI Canadian Natl Railway Co. | 0.05% | 28,796 | $2.7M | Reduce -1.4% |
| XOM Exxon Mobil Corp. | 0.04% | 17,910 | $2.0M | No change |
| CVX Chevron Corp. | 0.03% | 11,115 | $1.7M | No change |
| PCG P G & E Corp. | 0.03% | 106,570 | $1.6M | Reduce -95.1% |
| DTEGY Deutsche Telekom AG-Spon ADR | 0.02% | 37,859 | $1.3M | No change |
| AAPL Apple Inc. | 0.02% | 4,800 | $1.2M | No change |
| ODFL Old Dominion Freight Line | 0.02% | 8,200 | $1.2M | Reduce -89.0% |
| LAC Lithium Americas Corp. | 0.02% | 200,000 | $1.1M | New |
| ECG Everus Construction Group | 0.02% | 12,500 | $1.1M | No change |
| PLD Prologis Inc. | 0.01% | 7,356 | $842K | No change |
| PM Philip Morris International | 0.01% | 5,000 | $811K | No change |
| EVRG Evergy Inc. | 0.01% | 9,924 | $754K | New |
| EXC Exelon Corp. | 0.01% | 16,365 | $737K | Reduce -2.8% |
| NJR New Jersey Resources Corp. | 0.01% | 15,020 | $723K | No change |
| CP Canadian Pacific Kansas City | 0.01% | 9,344 | $696K | No change |
| JNJ Johnson & Johnson | 0.01% | 3,278 | $608K | Reduce -0.1% |
| MO Altria Group Inc. | 0.01% | 8,000 | $528K | No change |
| PPG PPG Industries Inc. | 0.01% | 5,000 | $526K | No change |
| EIX Edison International | 0.01% | 6,520 | $360K | Reduce -1.1% |
| VZ Verizon Communications Inc. | 0.00% | 4,665 | $205K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SCE TRUST IV (EIX V0 PERP J) | PFD | 63,125 | $1.5M | No change |
Total filed on the 13F, all lines: $5.6B.
Portfolio Sells Q2 2025 → Q3 2025
| CHTR Charter Communications Inc. Class A | Reduce -13.3% | 0.84% | −0.95 |
| SBAC SBA Communications Corp. | Reduce -6.0% | 1.40% | −0.85 |
| ATO Atmos Energy Corp. | Reduce -66.4% | 0.32% | −0.75 |
| UNP Union Pacific Corp. | Reduce -37.3% | 0.79% | −0.74 |
| PCG P G & E Corp. | Reduce -95.1% | 0.03% | −0.65 |
| TXNM TXNM Energy Inc. | Reduce -0.8% | 2.57% | −0.64 |
| AMT American Tower Corp. | Reduce -49.2% | 0.34% | −0.61 |
| CCOI Cogent Communications Holdin | Reduce -48.4% | 0.29% | −0.59 |
| EQIX Equinix Inc. | Reduce -0.1% | 2.21% | −0.59 |
| VRT Vertiv Holdings Co. Class A | Reduce -55.9% | 0.41% | −0.58 |
| NEE Nextera Energy Inc. | Reduce -33.6% | 0.80% | −0.58 |
| EPD Enterprise Products Partners | Reduce -2.8% | 1.95% | −0.52 |
| CCJ Cameco Corp. | Reduce -6.5% | 2.18% | −0.39 |
| NSC Norfolk Southern Corp. | Reduce -25.4% | 0.88% | −0.37 |
| OKE Oneok Inc. | Reduce -0.1% | 0.76% | −0.30 |
| DTM DT Midstream Inc. | Reduce -0.1% | 1.40% | −0.30 |
| PWR Quanta Services Inc. | Reduce -0.3% | 2.00% | −0.28 |
| ODFL Old Dominion Freight Line | Reduce -89.0% | 0.02% | −0.25 |
| MPC Marathon Petroleum Corp. | Reduce -33.3% | 0.34% | −0.21 |
| FYBR Frontier Communications Pare | Reduce -16.3% | 0.39% | −0.18 |
| TMUS T-Mobile US Inc. | Reduce -1.6% | 0.65% | −0.17 |
| GEV GE Vernova Inc. | Reduce -25.0% | 0.16% | −0.07 |
| DLR Digital Realty Trust Inc. | Reduce -0.0% | 0.23% | −0.06 |
| LIN Linde PLC | Reduce -0.2% | 0.18% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.1% | 0.16% | −0.04 |
| T AT&T Inc. | Reduce -0.1% | 0.09% | −0.03 |
| CNI Canadian Natl Railway Co. | Reduce -1.4% | 0.05% | −0.02 |
| MDU Mdu Resources Group Inc. | Sold out | 0.00% | −0.02 |
| UTG Reaves Utility Income Fund | Reduce -7.4% | 0.06% | −0.01 |
| NWN Northwest Natural Holding Co. | Sold out | 0.00% | −0.01 |
| EXC Exelon Corp. | Reduce -2.8% | 0.01% | −0.00 |
| EIX Edison International | Reduce -1.1% | 0.01% | −0.00 |
| JNJ Johnson & Johnson | Reduce -0.1% | 0.01% | −0.00 |
| LEU Centrus Energy Corp. Class A | Reduce -0.1% | 1.15% | +0.30 |
Portfolio Buys Q2 2025 → Q3 2025
| TLN Talen Energy Corp. | Add +12.6% | 10.69% | +2.61 |
| MP MP Materials Corp. | Add +168.4% | 3.09% | +2.38 |
| AEE Ameren Corporation | Add +112.4% | 1.79% | +0.83 |
| XEL Xcel Energy Inc. | Add +25.8% | 4.55% | +0.75 |
| GLW Corning Inc. | New | 0.74% | +0.74 |
| LNT Alliant Energy Corp. | Add +54.3% | 2.14% | +0.59 |
| EQT Eqt Corp. | Add +213.3% | 1.00% | +0.57 |
| CCI Crown Castle Inc. | New | 0.56% | +0.56 |
| NI Nisource Inc. | Add +34.6% | 3.86% | +0.54 |
| WEC WEC Energy Group Inc. | New | 0.48% | +0.48 |
| NRG NRG Energy Inc. | Add +122.8% | 0.85% | +0.38 |
| UTL Unitil Corp. | New | 0.23% | +0.23 |
| AWK American Water Works Co. Inc. | Add +80.0% | 0.70% | +0.22 |
| WBI Waterbridge Infrastruc Class A | New | 0.20% | +0.20 |
| DUK Duke Energy Corp. | Add +1118.3% | 0.22% | +0.20 |
| WMB Williams Cos Inc. | Add +45.7% | 1.23% | +0.19 |
| ETR Entergy Corp. | Add +15.7% | 3.80% | +0.15 |
| CSX CSX Corp. | New | 0.09% | +0.09 |
| DY Dycom Industries Inc. | Add +17.9% | 0.75% | +0.09 |
| CEG Constellation Energy | Add +23.3% | 5.95% | +0.06 |
| LAC Lithium Americas Corp. | New | 0.02% | +0.02 |
| EVRG Evergy Inc. | New | 0.01% | +0.01 |
| PPL PPL Corp. | Add +13.5% | 2.87% | −0.00 |
| IDA Idacorp Inc. | Add +8.5% | 4.00% | −0.01 |
| JCI Johnson Controls Internation | Add +0.3% | 0.10% | −0.02 |
| SRE Sempra | Add +3.4% | 2.56% | −0.03 |
| VST Vistra Corp. | Add +22.3% | 6.70% | −0.04 |
| PNW Pinnacle West Capital | Add +21.3% | 2.88% | −0.07 |
| CMS CMS Energy Corp. | Add +14.8% | 2.81% | −0.07 |
| CNP Centerpoint Energy Inc. | Add +15.4% | 4.99% | −0.11 |
| OGE Oge Energy Corp. | Add +7.5% | 1.10% | −0.12 |
| PEG Public Service Enterprise GP | Add +20.4% | 2.83% | −0.12 |
| DTE DTE Energy Company | Add +4.6% | 1.48% | −0.17 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 94 | $6.6B | TLN, ETR, VST, CEG, CNP |
| Q1 2026 | 90 | $6.0B | TLN, CEG, VST, CNP, XEL |
| Q4 2025 | 87 | $5.7B | TLN, CEG, VST, CNP, XEL |
| Q3 2025 | 82 | $5.6B | TLN, VST, CEG, CNP, XEL |
| Q2 2025 | 76 | $4.5B | TLN, VST, CEG, CNP, IDA |
| Q1 2025 | 78 | $3.9B | TLN, ETR, VST, NI, XEL |
| Q4 2024 | 72 | $3.8B | TLN, VST, CEG, ETR, NI |
| Q3 2024 | 76 | $3.7B | TLN, CEG, VST, ETR, CNP |
| Q2 2024 | 76 | $3.0B | CEG, TLN, VST, CNP, NI |
| Q1 2024 | 70 | $2.7B | CEG, PEG, NI, CNP, CMS |