Reaves Utility Income Fund
Sponsor: Reaves · Inception Feb 24, 2004 · Pays monthly
Market priceShare price
$35.08
+0.09% (+$0.03)
NAVAsset value per share
$35.28
as of Oct 15, 2026 · Nasdaq NAV symbol
Premium / discountPrice vs. assets
0.57% discount *
Indicative: latest price vs latest reported NAV
Distribution rate (price)Payout rate
7.18%
regular, annualised · on NAV 7.14%
Expense ratioAnnual cost
Not reported
no tagged fee table
LeverageBorrowing
Not reported
senior securities not tagged
Quote status: Market closed — last regular-session price · last trade Oct 16, 2026, 4:00 PM EDT (exchange time, ET) · retrieved Oct 16, 2026, 10:41 PM EDTRegular-session prices; extended-hours quotes are not displayed.
Full portfolio as filed on SEC Form N-PORT for the month ending Jul 31, 2026, filed Sep 28, 2026. 68 positions; weights are percent of net assets as reported. Weights sum to 100.0% — leverage, cash, derivatives and short positions mean totals need not equal 100%. This is a historical report, not a live portfolio.
Top 10 holdings
| # | Security | Type | Country | Weight | Value (USD) |
|---|---|---|---|---|---|
| 1 | Talen Energy Corp | Equity | United States | 7.48% | $337M |
| 2 | Entergy Corp | Equity | United States | 5.31% | $240M |
| 3 | Constellation Energy Corp | Equity | United States | 4.17% | $188M |
| 4 | CenterPoint Energy Inc | Equity | United States | 3.87% | $175M |
| 5 | Vistra Corp | Equity | United States | 3.75% | $169M |
| 6 | IDACORP Inc | Equity | United States | 3.63% | $164M |
| 7 | Xcel Energy Inc | Equity | United States | 3.59% | $162M |
| 8 | Equinix Inc | Equity | United States | 3.54% | $160M |
| 9 | Quanta Services Inc | Equity | United States | 3.20% | $144M |
| 10 | GE Vernova Inc | Equity | United States | 3.17% | $143M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Equity (common) | 99.48% | $4.5B |
| Short-term investment vehicle | 0.50% | $22.3M |
| Derivative (interest rate) | 0.02% | $970K |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| United States | 91.95% | $4.1B |
| Canada | 4.63% | $209M |
| Germany | 2.85% | $128M |
| Cayman Islands | 0.57% | $25.5M |
Region
| Region | % net assets | Value |
|---|---|---|
| United States | 91.95% | $4.1B |
| Canada | 4.63% | $209M |
| Developed Europe | 2.85% | $128M |
| Offshore domiciles | 0.57% | $25.5M |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Corporate | 99.50% | $4.5B |
| Registered fund | 0.50% | $22.3M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 1 | 99.18% | $4.5B |
| Level 2 | 0.82% | $37.1M |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 100.00% | $4.5B |
All allocation percentages use net assets as the denominator (N-PORT convention). A position's share of invested assets may differ from its share of the whole fund including cash and leverage.
All 68 positions
| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| Talen Energy Corp | 87422Q109 | Equity | CORP | United States | 1,009,796 | shares | $337M | 7.48% | 1 |
| Entergy Corp | 29364G103 | Equity | CORP | United States | 2,225,631 | shares | $240M | 5.31% | 1 |
| Constellation Energy Corp | 21037T109 | Equity | CORP | United States | 716,787 | shares | $188M | 4.17% | 1 |
| CenterPoint Energy Inc | 15189T107 | Equity | CORP | United States | 4,155,007 | shares | $175M | 3.87% | 1 |
| Vistra Corp | 92840M102 | Equity | CORP | United States | 1,140,500 | shares | $169M | 3.75% | 1 |
| IDACORP Inc | 451107106 | Equity | CORP | United States | 1,147,100 | shares | $164M | 3.63% | 1 |
| Xcel Energy Inc | 98389B100 | Equity | CORP | United States | 2,068,600 | shares | $162M | 3.59% | 1 |
| Equinix Inc | 29444U700 | Equity | CORP | United States | 156,741 | shares | $160M | 3.54% | 1 |
| Quanta Services Inc | 74762E102 | Equity | CORP | United States | 216,400 | shares | $144M | 3.20% | 1 |
| GE Vernova Inc | 36828A101 | Equity | CORP | United States | 144,204 | shares | $143M | 3.17% | 1 |
| Williams Cos Inc/The | 969457100 | Equity | CORP | United States | 1,920,313 | shares | $137M | 3.05% | 1 |
| Enterprise Products Partners LP | 293792107 | Equity | CORP | United States | 3,493,940 | shares | $133M | 2.95% | 1 |
| Deutsche Telekom AG | DE0005557508 | Equity | CORP | Germany | 4,161,042 | shares | $128M | 2.85% | 1 |
| DT Midstream Inc | 23345M107 | Equity | CORP | United States | 929,563 | shares | $128M | 2.84% | 1 |
| NiSource Inc | 65473P105 | Equity | CORP | United States | 2,702,100 | shares | $120M | 2.66% | 1 |
| Alliant Energy Corp | 018802108 | Equity | CORP | United States | 1,685,000 | shares | $119M | 2.64% | 1 |
| Canadian Pacific Kansas City L | 13646K108 | Equity | CORP | Canada | 1,193,000 | shares | $106M | 2.35% | 1 |
| MP Materials Corp | 553368101 | Equity | CORP | United States | 2,455,909 | shares | $102M | 2.25% | 1 |
| Dycom Industries Inc | 267475101 | Equity | CORP | United States | 240,400 | shares | $96.4M | 2.14% | 1 |
| Corning Inc | 219350105 | Equity | CORP | United States | 680,800 | shares | $94.1M | 2.09% | 1 |
| Sempra | 816851109 | Equity | CORP | United States | 1,044,778 | shares | $92.5M | 2.05% | 1 |
| CMS Energy Corp | 125896100 | Equity | CORP | United States | 1,224,361 | shares | $88.1M | 1.95% | 1 |
| Cameco Corp | 13321L108 | Equity | CORP | Canada | 997,200 | shares | $86.1M | 1.91% | 1 |
| OGE Energy Corp | 670837103 | Equity | CORP | United States | 1,440,204 | shares | $68.2M | 1.51% | 1 |
| American Electric Power Co Inc | 025537101 | Equity | CORP | United States | 472,440 | shares | $60.4M | 1.34% | 1 |
| NextEra Energy Inc | 65339F101 | Equity | CORP | United States | 668,500 | shares | $58.1M | 1.29% | 1 |
| SBA Communications Corp | 78410G104 | Equity | CORP | United States | 305,200 | shares | $55.2M | 1.22% | 1 |
| Coherent Corp | 19247G107 | Equity | CORP | United States | 201,868 | shares | $53.1M | 1.18% | 1 |
| Magnolia Oil & Gas Corp | 559663109 | Equity | CORP | United States | 2,025,000 | shares | $52.1M | 1.15% | 1 |
| EQT Corp | 26884L109 | Equity | CORP | United States | 939,000 | shares | $50M | 1.11% | 1 |
| Arista Networks Inc | 040413205 | Equity | CORP | United States | 277,000 | shares | $50M | 1.11% | 1 |
| Old Dominion Freight Line Inc | 679580100 | Equity | CORP | United States | 229,000 | shares | $48.6M | 1.08% | 1 |
| Pinnacle West Capital Corp | 723484101 | Equity | CORP | United States | 457,000 | shares | $46.2M | 1.02% | 1 |
| Cheniere Energy Inc | 16411R208 | Equity | CORP | United States | 161,000 | shares | $42.4M | 0.94% | 1 |
| ITG Inc | 45047B105 | Equity | CORP | United States | 3,125,000 | shares | $40.4M | 0.90% | 1 |
| MPLX LP | 55336V100 | Equity | CORP | United States | 670,500 | shares | $39.2M | 0.87% | 1 |
| Centrus Energy Corp | 15643U104 | Equity | CORP | United States | 199,058 | shares | $35.2M | 0.78% | 1 |
| American Tower Corp | 03027X100 | Equity | CORP | United States | 182,072 | shares | $31.6M | 0.70% | 1 |
| USA Rare Earth Inc | 91733P107 | Equity | CORP | United States | 2,000,000 | shares | $29.9M | 0.66% | 1 |
| X-ENERGY REACTOR CO., LLC, SERIES D PFD UNITrestricted | — | Equity | CORP | United States | 1,891,802 | shares | $27.8M | 0.62% | 2 |
| Digital Realty Trust Inc | 253868103 | Equity | CORP | United States | 139,000 | shares | $26.2M | 0.58% | 1 |
| Lumentum Holdings Inc | 55024U109 | Equity | CORP | United States | 36,285 | shares | $25.9M | 0.57% | 1 |
| National Fuel Gas Co | 636180101 | Equity | CORP | United States | 314,465 | shares | $25.9M | 0.57% | 1 |
| WEC Energy Group Inc | 92939U106 | Equity | CORP | United States | 236,000 | shares | $25.8M | 0.57% | 1 |
| Rice Acquisition Corp 3 | G7553X122 | Equity | CORP | Cayman Islands | 2,400,000 | shares | $25.5M | 0.57% | 1 |
| Federated Hermes Treasury Obli | 60934N500 | Short-term inv. | RF | United States | 22,335,816 | shares | $22.3M | 0.50% | 1 |
| Albemarle Corp | 012653101 | Equity | CORP | United States | 185,000 | shares | $21.8M | 0.48% | 1 |
| DTE Energy Co | 233331107 | Equity | CORP | United States | 150,000 | shares | $21.3M | 0.47% | 1 |
| Dominion Energy Inc | 25746U109 | Equity | CORP | United States | 300,000 | shares | $20.8M | 0.46% | 1 |
| Tamboran Resources Corp | 87507T101 | Equity | CORP | United States | 615,001 | shares | $20.4M | 0.45% | 1 |
| Forgent Power Solutions Inc | 34631F102 | Equity | CORP | United States | 600,000 | shares | $20M | 0.44% | 1 |
| Iron Mountain Inc | 46284V101 | Equity | CORP | United States | 160,000 | shares | $19.6M | 0.43% | 1 |
| TIC Solutions Inc | 00510N102 | Equity | CORP | United States | 2,604,703 | shares | $19M | 0.42% | 1 |
| T-Mobile US Inc | 872590104 | Equity | CORP | United States | 97,800 | shares | $16.9M | 0.37% | 1 |
| Rogers Communications Inc | 775109200 | Equity | CORP | Canada | 498,000 | shares | $16.9M | 0.37% | 1 |
| NRG Energy Inc | 629377508 | Equity | CORP | United States | 95,000 | shares | $12.8M | 0.28% | 1 |
| Vertiv Holdings Co | 92537N108 | Equity | CORP | United States | 49,000 | shares | $11.8M | 0.26% | 1 |
| Fervo Energy Co | 31556C106 | Equity | CORP | United States | 450,000 | shares | $10.1M | 0.22% | 1 |
| Unitil Corp | 913259107 | Equity | CORP | United States | 187,920 | shares | $10.1M | 0.22% | 1 |
| Ameren Corp | 023608102 | Equity | CORP | United States | 80,000 | shares | $8.8M | 0.19% | 1 |
| SharonAI Holdings Inc Restrictedrestricted | ticker SHAZ_RS | Equity | CORP | United States | 181,871 | shares | $8.3M | 0.18% | 2 |
| York Water Co/The | 987184108 | Equity | CORP | United States | 260,000 | shares | $8.1M | 0.18% | 1 |
| X-Energy Inc | 98386P102 | Equity | CORP | United States | 300,000 | shares | $4.9M | 0.11% | 1 |
| ERock Inc | 296013105 | Equity | CORP | United States | 435,000 | shares | $4.5M | 0.10% | 1 |
| Chesapeake Utilities Corp | 165303108 | Equity | CORP | United States | 10,000 | shares | $1.3M | 0.03% | 1 |
| Royal Bank of Canada | — | Rate deriv. | CORP | United States | 1 | contracts | $712K | 0.02% | 2 |
| Royal Bank of Canada | — | Rate deriv. | CORP | United States | 1 | contracts | $254K | 0.01% | 2 |
| Royal Bank of Canada | — | Rate deriv. | CORP | United States | 1 | contracts | $3K | 0.00% | 2 |
Equities show share counts; bonds and loans show principal amount. Coupon, maturity and ratings are shown where the filing discloses them. Source: SEC N-PORT via market-data vendor re-serve, position-level.
Holdings reports on file
| Report date | Filed | Positions | Σ weight | Net assets (calc.) | Coverage |
|---|---|---|---|---|---|
| Jul 31, 2026 | Sep 28, 2026 | 68 | 100.0% | $4.5B | full |
| Apr 30, 2026 | Jun 26, 2026 | 71 | 100.0% | $5B | full |
| Jan 31, 2026 | Mar 31, 2026 | 70 | 100.0% | $4.3B | full |
| Oct 31, 2025 | Dec 29, 2025 | 69 | 100.0% | $4.4B | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for Reaves Utility Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.