Reaves W H & Co. Inc.

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 7, 2026), Reaves W H & Co. Inc. reported 90 stock positions worth $6.0 billion. Its top holding was Talen Energy (TLN) at 8.0% of the portfolio, followed by Constellation Energy (CEG, 5.6%) and Vistra (VST, 5.2%). Compared with Q4 2025, it opened 8 new positions, sold out of 5, added to 27 and reduced 39. The biggest buy was GE Vernova (GEV, shares +138%) and the biggest sale TXNM Energy (TXNM, shares −98%).

Most Recent 13F: Q2 2026
Location: JERSEY CITY, NJ
CIK: 0000740913
Portfolio Value: $6.0B (Q1 2026)
SEC Filing: 0000740913-26-000006 ↗ filed May 7, 2026

Holdings Value

Holdings 90 stocks · $6.0B


TLN Talen Energy Corp.	8.00%	1,510,697	$482.3M	Reduce -0.7%
CEG Constellation Energy	5.58%	1,203,513	$336.1M	Add +6.1%
VST Vistra Corp.	5.23%	2,094,547	$314.9M	Reduce -4.7%
CNP Centerpoint Energy Inc.	5.02%	7,003,120	$302.3M	Reduce -8.7%
XEL Xcel Energy Inc.	4.68%	3,548,909	$281.9M	Reduce -0.9%
IDA Idacorp Inc.	4.27%	1,800,478	$257.4M	Reduce -0.4%
ETR Entergy Corp.	4.18%	2,242,772	$252.0M	Reduce -8.3%
LNT Alliant Energy Corp.	3.56%	2,993,426	$214.8M	Reduce -2.1%
SRE Sempra	3.33%	2,068,019	$200.9M	Reduce -3.4%
NI Nisource Inc.	3.18%	4,112,345	$191.9M	Reduce -24.2%
EQIX Equinix Inc.	2.83%	173,816	$170.4M	Add +2.9%
CMS CMS Energy Corp.	2.72%	2,114,254	$164.0M	Add +1.3%
GEV GE Vernova Inc.	2.54%	175,052	$152.8M	Add +138.5%
WMB Williams Cos Inc.	2.52%	2,089,760	$152.1M	Add +61.4%
PPL PPL Corp.	2.35%	3,706,113	$141.6M	Reduce -16.2%
PWR Quanta Services Inc.	2.28%	250,284	$137.4M	Reduce -7.5%
EPD Enterprise Products Partners	2.19%	3,493,940	$132.2M	No change
MP MP Materials Corp.	2.09%	2,608,770	$125.9M	Reduce -0.0%
DTM DT Midstream Inc.	2.08%	932,483	$125.6M	Add +22.3%
CCJ Cameco Corp.	2.03%	1,126,885	$122.4M	Reduce -22.5%
NEE Nextera Energy Inc.	2.03%	1,316,141	$122.2M	Reduce -1.0%
AEE Ameren Corporation	1.96%	1,072,573	$117.9M	Reduce -1.1%
PNW Pinnacle West Capital	1.80%	1,078,046	$108.6M	Reduce -37.3%
NRG NRG Energy Inc.	1.78%	734,285	$107.3M	Add +28.5%
GLW Corning Inc.	1.72%	763,193	$103.8M	Add +0.5%
CP Canadian Pacific Kansas City	1.41%	1,078,191	$84.8M	Add +13063.1%
DY Dycom Industries Inc.	1.40%	248,140	$84.1M	Add +73.3%
OGE Oge Energy Corp.	1.28%	1,603,609	$76.9M	Reduce -17.5%
EQT Eqt Corp.	1.15%	1,089,757	$69.4M	Reduce -6.2%
WEC WEC Energy Group Inc.	1.08%	562,957	$65.2M	Add +49.1%
SBAC SBA Communications Corp.	0.92%	322,464	$55.5M	Reduce -11.0%
MPC Marathon Petroleum Corp.	0.89%	220,615	$53.9M	Add +32.1%
ANET Arista Networks Inc.	0.85%	415,240	$51.0M	Add +1679.4%
COHR Coherent Corp.	0.81%	205,831	$49.0M	Add +691.7%
DTE DTE Energy Company	0.79%	323,705	$47.3M	Reduce -22.5%
AEP American Electric Power	0.75%	344,722	$45.2M	New
MPLX MPLX LP	0.64%	670,500	$38.3M	No change
LEU Centrus Energy Corp. Class A	0.61%	211,918	$36.8M	Add +21.4%
USAR USA Rare Earth Inc.	0.58%	2,320,000	$35.1M	New
NFG National Fuel Gas Co.	0.49%	314,465	$29.5M	New
LITE Lumentum Holdings Inc.	0.49%	41,815	$29.4M	Add +104.0%
X-ENERGY REACTOR CO. LLC SERIE	0.46%	1,891,802	$27.5M	No change
KRSP.U Rice Acquisition Corp. 3	0.42%	2,400,000	$25.4M	No change
CCI Crown Castle Inc.	0.39%	287,589	$23.4M	Reduce -12.0%
TMUS T-Mobile US Inc.	0.37%	106,969	$22.5M	Reduce -29.0%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL	0.36%	213,549	$21.8M	Add +296.2%
TIC Tic Solutions Inc.	0.34%	3,076,170	$20.2M	Add +43.1%
VRT Vertiv Holdings Co. Class A	0.30%	72,880	$18.3M	Reduce -12.1%
PEG Public Service Enterprise GP	0.29%	215,103	$17.4M	Reduce -61.8%
DLR Digital Realty Trust Inc.	0.28%	94,022	$16.9M	Reduce -0.3%
AMT American Tower Corp.	0.28%	98,037	$16.9M	No change
UNP Union Pacific Corp.	0.27%	67,160	$16.3M	Reduce -16.2%
ODFL Old Dominion Freight Line	0.22%	69,200	$13.5M	Add +1547.6%
UTL Unitil Corp.	0.22%	248,275	$13.0M	Reduce -9.7%
WBI Waterbridge Infrastruc Class A	0.20%	450,000	$12.1M	No change
MWH Solv Energy Inc. Class A	0.20%	400,000	$12.0M	New
TBN Tamboran Resources Corp.	0.14%	170,000	$8.5M	Add +70.0%
BRK.B Berkshire Hathaway Inc. Class B	0.14%	17,726	$8.5M	Reduce -0.1%
LNG Cheniere Energy Inc.	0.11%	24,000	$6.8M	New
JCI Johnson Controls Internation	0.11%	49,666	$6.5M	Reduce -0.7%
HTO H2O America	0.10%	100,000	$5.9M	New
LAC Lithium Americas Corp.	0.08%	1,240,000	$4.9M	Add +19.2%
UTG Reaves Utility Income Fund	0.06%	84,562	$3.3M	Add +1.5%
ATO Atmos Energy Corp.	0.05%	16,660	$3.1M	Reduce -0.1%
CPK Chesapeake Utilities Corp.	0.04%	20,000	$2.5M	Reduce -33.3%
FFIV F5 Inc.	0.04%	8,589	$2.5M	New
TXNM TXNM Energy Inc.	0.04%	41,188	$2.4M	Reduce -98.3%
SO The Southern Co.	0.04%	24,767	$2.4M	Add +0.5%
XOM Exxon Mobil Corp.	0.04%	12,800	$2.2M	Reduce -28.5%
LIN Linde PLC	0.04%	4,349	$2.2M	Reduce -0.1%
LAMR Lamar Advertising Co. Class A	0.03%	14,000	$1.8M	Reduce -44.0%
PCG P G & E Corp.	0.03%	99,104	$1.7M	No change
DTEGY Deutsche Telekom AG-Spon ADR	0.02%	38,399	$1.4M	Add +1.4%
AAPL Apple Inc.	0.02%	4,800	$1.2M	No change
DUK Duke Energy Corp.	0.02%	8,277	$1.1M	Add +1.4%
OKE Oneok Inc.	0.02%	11,810	$1.1M	Reduce -97.4%
PLD Prologis Inc.	0.02%	7,356	$972K	No change
AWK American Water Works Co. Inc.	0.01%	6,145	$836K	No change
PM Philip Morris International	0.01%	5,000	$827K	No change
EVRG Evergy Inc.	0.01%	10,087	$826K	Add +1.6%
NJR New Jersey Resources Corp.	0.01%	14,615	$803K	Add +1.4%
JNJ Johnson & Johnson	0.01%	3,278	$801K	No change
CMCSA Comcast Corp. Class A	0.01%	26,200	$752K	Reduce -96.2%
CVX Chevron Corp.	0.01%	3,464	$717K	Reduce -62.0%
PPG PPG Industries Inc.	0.01%	5,000	$534K	No change
CCOI Cogent Communications Holdin	0.01%	28,098	$529K	Reduce -89.2%
MO Altria Group Inc.	0.01%	8,000	$528K	No change
EXC Exelon Corp.	0.01%	7,990	$392K	No change
BKR Baker Hughes Co.	0.01%	5,000	$305K	No change
VZ Verizon Communications Inc.	0.00%	4,665	$234K	New

Portfolio Sells Q4 2025 → Q1 2026


TXNM TXNM Energy Inc.	Reduce -98.3%	0.04%	−2.51
TLN Talen Energy Corp.	Reduce -0.7%	8.00%	−1.97
VST Vistra Corp.	Reduce -4.7%	5.23%	−0.98
PNW Pinnacle West Capital	Reduce -37.3%	1.80%	−0.87
NI Nisource Inc.	Reduce -24.2%	3.18%	−0.78
NSC Norfolk Southern Corp.	Sold out	0.00%	−0.66
OKE Oneok Inc.	Reduce -97.4%	0.02%	−0.58
PEG Public Service Enterprise GP	Reduce -61.8%	0.29%	−0.50
NATIONAL FUEL GAS - Restricted	Sold out	0.00%	−0.44
FYBR Frontier Communications Pare	Sold out	0.00%	−0.39
PPL PPL Corp.	Reduce -16.2%	2.35%	−0.36
CMCSA Comcast Corp. Class A	Reduce -96.2%	0.01%	−0.35
SBAC SBA Communications Corp.	Reduce -11.0%	0.92%	−0.31
CCJ Cameco Corp.	Reduce -22.5%	2.03%	−0.30
MP MP Materials Corp.	Reduce -0.0%	2.09%	−0.22
OGE Oge Energy Corp.	Reduce -17.5%	1.28%	−0.18
TMUS T-Mobile US Inc.	Reduce -29.0%	0.37%	−0.16
DTE DTE Energy Company	Reduce -22.5%	0.79%	−0.16
CNP Centerpoint Energy Inc.	Reduce -8.7%	5.02%	−0.13
CCI Crown Castle Inc.	Reduce -12.0%	0.39%	−0.12
CHTR Charter Communications Inc. Class A	Sold out	0.00%	−0.09
CCOI Cogent Communications Holdin	Reduce -89.2%	0.01%	−0.09
UNP Union Pacific Corp.	Reduce -16.2%	0.27%	−0.05
LAMR Lamar Advertising Co. Class A	Reduce -44.0%	0.03%	−0.03
CPK Chesapeake Utilities Corp.	Reduce -33.3%	0.04%	−0.02
ECG Everus Construction Group	Sold out	0.00%	−0.02
UTL Unitil Corp.	Reduce -9.7%	0.22%	−0.02
BRK.B Berkshire Hathaway Inc. Class B	Reduce -0.1%	0.14%	−0.02
CVX Chevron Corp.	Reduce -62.0%	0.01%	−0.01
XOM Exxon Mobil Corp.	Reduce -28.5%	0.04%	−0.00
ATO Atmos Energy Corp.	Reduce -0.1%	0.05%	+0.00
JCI Johnson Controls Internation	Reduce -0.7%	0.11%	+0.00
LIN Linde PLC	Reduce -0.1%	0.04%	+0.00
DLR Digital Realty Trust Inc.	Reduce -0.3%	0.28%	+0.03
SRE Sempra	Reduce -3.4%	3.33%	+0.03
XEL Xcel Energy Inc.	Reduce -0.9%	4.68%	+0.05
EQT Eqt Corp.	Reduce -6.2%	1.15%	+0.06
AEE Ameren Corporation	Reduce -1.1%	1.96%	+0.06
VRT Vertiv Holdings Co. Class A	Reduce -12.1%	0.30%	+0.07
LNT Alliant Energy Corp.	Reduce -2.1%	3.56%	+0.09
NEE Nextera Energy Inc.	Reduce -1.0%	2.03%	+0.16
ETR Entergy Corp.	Reduce -8.3%	4.18%	+0.23
IDA Idacorp Inc.	Reduce -0.4%	4.27%	+0.27
PWR Quanta Services Inc.	Reduce -7.5%	2.28%	+0.28

Portfolio Buys Q4 2025 → Q1 2026


GEV GE Vernova Inc.	Add +138.5%	2.54%	+1.70
CP Canadian Pacific Kansas City	Add +13063.1%	1.41%	+1.40
WMB Williams Cos Inc.	Add +61.4%	2.52%	+1.16
ANET Arista Networks Inc.	Add +1679.4%	0.85%	+0.79
AEP American Electric Power	New	0.75%	+0.75
COHR Coherent Corp.	Add +691.7%	0.81%	+0.73
USAR USA Rare Earth Inc.	New	0.58%	+0.58
EQIX Equinix Inc.	Add +2.9%	2.83%	+0.56
GLW Corning Inc.	Add +0.5%	1.72%	+0.56
DY Dycom Industries Inc.	Add +73.3%	1.40%	+0.55
NFG National Fuel Gas Co.	New	0.49%	+0.49
DTM DT Midstream Inc.	Add +22.3%	2.08%	+0.49
MPC Marathon Petroleum Corp.	Add +32.1%	0.89%	+0.42
WEC WEC Energy Group Inc.	Add +49.1%	1.08%	+0.39
LITE Lumentum Holdings Inc.	Add +104.0%	0.49%	+0.36
IRM Iron Mountain Inc.	Add +296.2%	0.36%	+0.28
ODFL Old Dominion Freight Line	Add +1547.6%	0.22%	+0.21
MWH Solv Energy Inc. Class A	New	0.20%	+0.20
NRG NRG Energy Inc.	Add +28.5%	1.78%	+0.19
CMS CMS Energy Corp.	Add +1.3%	2.72%	+0.17
LNG Cheniere Energy Inc.	New	0.11%	+0.11
HTO H2O America	New	0.10%	+0.10
TBN Tamboran Resources Corp.	Add +70.0%	0.14%	+0.09
FFIV F5 Inc.	New	0.04%	+0.04
VZ Verizon Communications Inc.	New	0.00%	+0.00
SO The Southern Co.	Add +0.5%	0.04%	+0.00
LAC Lithium Americas Corp.	Add +19.2%	0.08%	+0.00
DTEGY Deutsche Telekom AG-Spon ADR	Add +1.4%	0.02%	+0.00
UTG Reaves Utility Income Fund	Add +1.5%	0.06%	+0.00
NJR New Jersey Resources Corp.	Add +1.4%	0.01%	+0.00
DUK Duke Energy Corp.	Add +1.4%	0.02%	+0.00
EVRG Evergy Inc.	Add +1.6%	0.01%	+0.00
TIC Tic Solutions Inc.	Add +43.1%	0.34%	−0.04
LEU Centrus Energy Corp. Class A	Add +21.4%	0.61%	−0.13
CEG Constellation Energy	Add +6.1%	5.58%	−1.43

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