# EDGAR Filing Document

**Accession Number:** 0000740913
**File Stem:** 0000740913-26-000003
**Filing Date:** 2026-2
**Character Count:** 14474
**Document Hash:** 48f31c744b0eccc223915e7e5b2743f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000740913-26-000003.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0000740913-26-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REAVES W H & CO INC
- **CENTRAL INDEX KEY:** 0000740913

**ORGANIZATION NAME:**
- **EIN:** 222169066
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-01347
- **FILM NUMBER:** 26614811

**BUSINESS ADDRESS:**
- **STREET 1:** 10 EXCHANGE PLACE
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 2123224596

**MAIL ADDRESS:**
- **STREET 1:** REAVES W H & CO INC
- **STREET 2:** 10 EXCHANGE PLACE
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** REAVES W H  CO INC<br>**Address:** REAVES W H  CO INC<br>10 EXCHANGE PLACE<br>JERSEY CITY, NJ 07302

**Form 13F File Number:** 028-01347

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Stephen Gavlick<br>**Title:** Chief Compliance Officer<br>**Phone:** 2012401987

**Signature, Place, and Date of Signing:**

Stephen Gavlick  Jersey City, NJ  02-10-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 105

**Form 13F Information Table Value Total:** $5717059496

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                | Form 13F File Number   |
|:---|:---|:---|
|  | VIRTUS ADVISERS LLC | 028-17301              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALLIANT ENERGY CORP COM | COM | 018802108 |  | 128929782 | 1983230 | SH |  | SOLE |  | 1967552 | 0 | 15678 |
| ALLIANT ENERGY CORP COM | COM | 018802108 |  | 69822235 | 1074023 | SH |  | OTR | 01 | 0 | 1074023 | 0 |
| ALTRIA GROUP INC. | COM | 02209S103 |  | 461280 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| AMEREN CORP COM | COM | 023608102 |  | 57598849 | 576796 | SH |  | SOLE |  | 576237 | 0 | 559 |
| AMEREN CORP COM | COM | 023608102 |  | 50715698 | 507868 | SH |  | OTR | 01 | 0 | 507868 | 0 |
| AMERICAN TOWER REIT COM | COM | 03027X100 |  | 17212356 | 98037 | SH |  | SOLE |  | 97737 | 0 | 300 |
| AMERICAN WATER WORKS | COM | 030420103 |  | 801923 | 6145 | SH |  | SOLE |  | 3245 | 0 | 2900 |
| APPLE INC COM | COM | 037833100 |  | 1304928 | 4800 | SH |  | SOLE |  | 0 | 0 | 4800 |
| ARISTA NETWORKS INC | COM | 040413205 |  | 3057716 | 23336 | SH |  | SOLE |  | 23112 | 0 | 224 |
| ATMOS ENERGY CORP COM | COM | 049560105 |  | 2795733 | 16678 | SH |  | SOLE |  | 7662 | 0 | 9016 |
| BAKER HUGHES CO CL A | COM | 05722G100 |  | 227700 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| BERKSHIRE HATHAWAY INC CLASS B | COM | 084670702 |  | 8922540 | 17751 | SH |  | SOLE |  | 915 | 0 | 16836 |
| CAMECO CORP COM | COM | 13321L108 |  | 133024447 | 1453978 | SH |  | SOLE |  | 1431571 | 0 | 22407 |
| CANADIAN PACIFIC KANSAS CITY L | COM | 13646K108 |  | 603103 | 8191 | SH |  | SOLE |  | 1127 | 0 | 7064 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 203623433 | 5310992 | SH |  | SOLE |  | 5268420 | 0 | 42572 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 90310867 | 2355526 | SH |  | OTR | 01 | 0 | 2355526 | 0 |
| CENTRUS ENERGY CORP CL A | COM | 15643U104 |  | 42361620 | 174500 | SH |  | SOLE |  | 170711 | 0 | 3789 |
| CHARTER COMMUNICATIONS INC | COM | 16119P108 |  | 5114375 | 24500 | SH |  | SOLE |  | 24500 | 0 | 0 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 3742800 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| CHEVRON CORPORATION COM | COM | 166764100 |  | 1389217 | 9115 | SH |  | SOLE |  | 9115 | 0 | 0 |
| CMS ENERGY CORP COM | COM | 125896100 |  | 102983743 | 1472669 | SH |  | SOLE |  | 1456141 | 0 | 16528 |
| CMS ENERGY CORP COM | COM | 125896100 |  | 42979957 | 614614 | SH |  | OTR | 01 | 0 | 614614 | 0 |
| COGENT COMMUNICATIONS HLDGS CO | COM | 19239V302 |  | 5586153 | 259098 | SH |  | SOLE |  | 259098 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 4798820 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| COMCAST CORP CLASS A | COM | 20030N101 |  | 20627089 | 690100 | SH |  | SOLE |  | 690100 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 224553253 | 635642 | SH |  | SOLE |  | 624361 | 0 | 11281 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 176035501 | 498303 | SH |  | OTR | 01 | 0 | 498303 | 0 |
| CORNING INC COM | COM | 219350105 |  | 66464607 | 759075 | SH |  | SOLE |  | 747953 | 0 | 11122 |
| CROWN CASTLE INC | COM | 22822V101 |  | 29042538 | 326798 | SH |  | SOLE |  | 326041 | 0 | 757 |
| DEUTSCHE TELEKOM AG | COM | 251566105 |  | 1229865 | 37859 | SH |  | SOLE |  | 37859 | 0 | 0 |
| DIGITAL REALTY TR | COM | 253868103 |  | 14589617 | 94303 | SH |  | SOLE |  | 94072 | 0 | 231 |
| DT MIDSTREAM INC | COM | 23345M107 |  | 91286279 | 762753 | SH |  | SOLE |  | 733768 | 0 | 28985 |
| DTE ENERGY CO COM | COM | 233331107 |  | 53852503 | 417526 | SH |  | SOLE |  | 416751 | 0 | 775 |
| DUKE ENERGY CORP NEW COM NEW | COM | 26441C204 |  | 956902 | 8164 | SH |  | SOLE |  | 8164 | 0 | 0 |
| DYCOM INDS INC COM | COM | 267475101 |  | 48391335 | 143212 | SH |  | SOLE |  | 140000 | 0 | 3212 |
| ENTERGY CORP NEW COM | COM | 29364G103 |  | 154037368 | 1666530 | SH |  | SOLE |  | 1665692 | 0 | 838 |
| ENTERGY CORP NEW COM | COM | 29364G103 |  | 72101223 | 780063 | SH |  | OTR | 01 | 0 | 780063 | 0 |
| EQT CORP COM | COM | 26884L109 |  | 62281860 | 1161975 | SH |  | SOLE |  | 1160979 | 0 | 996 |
| EQUINIX INC COM NEW | COM | 29444U700 |  | 129456523 | 168968 | SH |  | SOLE |  | 165195 | 0 | 3773 |
| EVERGY INC COM | COM | 30034W106 |  | 719391 | 9924 | SH |  | SOLE |  | 9924 | 0 | 0 |
| EVERUS CONSTRUCTION GROUP INC | COM | 300426103 |  | 1069500 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| EXELON CORP COM | COM | 30161N101 |  | 348284 | 7990 | SH |  | SOLE |  | 4655 | 0 | 3335 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2155289 | 17910 | SH |  | SOLE |  | 6580 | 0 | 11330 |
| FRONTIER COMMUNICATIONS PARENT | COM | 35909D109 |  | 22382609 | 587933 | SH |  | SOLE |  | 578959 | 0 | 8974 |
| GE VERNOVA INC | COM | 36828A101 |  | 47973999 | 73403 | SH |  | SOLE |  | 71174 | 0 | 2229 |
| IDACORP INC COM | COM | 451107106 |  | 171607134 | 1355935 | SH |  | SOLE |  | 1355174 | 0 | 761 |
| IDACORP INC COM | COM | 451107106 |  | 57189427 | 451876 | SH |  | OTR | 01 | 0 | 451876 | 0 |
| IRON MTN INC NEW | COM | 46284V101 |  | 4471005 | 53900 | SH |  | SOLE |  | 53900 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 678382 | 3278 | SH |  | SOLE |  | 3225 | 0 | 53 |
| JOHNSON CTLS INTL PLC SHS | COM | G51502105 |  | 5987021 | 49996 | SH |  | SOLE |  | 49590 | 0 | 406 |
| LAMAR ADVERTISING CO | COM | 512816109 |  | 3164500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| LINDE PLC SH | COM | G54950103 |  | 1855649 | 4352 | SH |  | SOLE |  | 3763 | 0 | 589 |
| LITHIUM AMERICAS CORP | COM | 53681J103 |  | 4534400 | 1040000 | SH |  | SOLE |  | 1040000 | 0 | 0 |
| LUMENTUM HOLDINGS INC | COM | 55024U109 |  | 7556095 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| MARATHON PETROLEUM CORP | COM | 56585A102 |  | 27159210 | 167000 | SH |  | SOLE |  | 167000 | 0 | 0 |
| MP MATLS CORP | COM | 553368101 |  | 131833254 | 2609526 | SH |  | SOLE |  | 2573723 | 0 | 35803 |
| NATIONAL FUEL GAS - Restricted | COM | 636180999 |  | 24999968 | 314465 | SH |  | SOLE |  | 314465 | 0 | 0 |
| NEW JERSEY RES COM | COM | 646025106 |  | 665050 | 14420 | SH |  | SOLE |  | 14420 | 0 | 0 |
| NEXTERA ENERGY INC COM | COM | 65339F101 |  | 37946965 | 472683 | SH |  | SOLE |  | 406090 | 0 | 66593 |
| NEXTERA ENERGY INC COM | COM | 65339F101 |  | 68795545 | 856945 | SH |  | OTR | 01 | 0 | 856945 | 0 |
| NISOURCE INC COM | COM | 65473P105 |  | 153494351 | 3675631 | SH |  | SOLE |  | 3652810 | 0 | 22821 |
| NISOURCE INC COM | COM | 65473P105 |  | 73042500 | 1749102 | SH |  | OTR | 01 | 0 | 1749102 | 0 |
| NORFOLK SOUTHERN CORP COM | COM | 655844108 |  | 37822320 | 131000 | SH |  | SOLE |  | 131000 | 0 | 0 |
| NRG ENERGY INC COM | COM | 629377508 |  | 21217615 | 133243 | SH |  | SOLE |  | 133243 | 0 | 0 |
| NRG ENERGY INC COM | COM | 629377508 |  | 69808427 | 438385 | SH |  | OTR | 01 | 0 | 438385 | 0 |
| OGE ENERGY CORP COM | COM | 670837103 |  | 68464753 | 1603390 | SH |  | SOLE |  | 1588490 | 0 | 14900 |
| OGE ENERGY CORP COM | COM | 670837103 |  | 14552630 | 340811 | SH |  | OTR | 01 | 0 | 340811 | 0 |
| OLD DOMINION FREIGHT LINE | COM | 679580100 |  | 658560 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| ONEOK INC NEW COM | COM | 682680103 |  | 33937890 | 461740 | SH |  | SOLE |  | 461740 | 0 | 0 |
| PG CORP COM | COM | 69331C108 |  | 1592601 | 99104 | SH |  | SOLE |  | 61346 | 0 | 37758 |
| PHILLIP MORRIS INTERNATIONAL | COM | 718172109 |  | 802000 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| PINNACLE WEST CAP CORP COM | COM | 723484101 |  | 96429584 | 1087143 | SH |  | SOLE |  | 1087143 | 0 | 0 |
| PINNACLE WEST CAP CORP COM | COM | 723484101 |  | 56114370 | 632631 | SH |  | OTR | 01 | 0 | 632631 | 0 |
| PPG INDS INC COM | COM | 693506107 |  | 512300 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| PPL CORP COM | COM | 69351T106 |  | 99534404 | 2842216 | SH |  | SOLE |  | 2840646 | 0 | 1570 |
| PPL CORP COM | COM | 69351T106 |  | 55422582 | 1582598 | SH |  | OTR | 01 | 0 | 1582598 | 0 |
| PROLOGIS INC COM | COM | 74340W103 |  | 939067 | 7356 | SH |  | SOLE |  | 4961 | 0 | 2395 |
| PUBLIC SVC ENTERPRISE GROUP IN | COM | 744573106 |  | 45208177 | 562991 | SH |  | SOLE |  | 540271 | 0 | 22720 |
| QUANTA SVCS INC COM | COM | 74762E102 |  | 114213235 | 270609 | SH |  | SOLE |  | 267048 | 0 | 3561 |
| RICE ACQUISITION CORPORATION 3 | COM | G7553X122 |  | 25200000 | 2400000 | SH |  | SOLE |  | 2400000 | 0 | 0 |
| SBA COMMUNICATIONS COR CL A | COM | 78410G104 |  | 70111412 | 362464 | SH |  | SOLE |  | 357724 | 0 | 4740 |
| SEMPRA | COM | 816851109 |  | 117696221 | 1333064 | SH |  | SOLE |  | 1307228 | 0 | 25836 |
| SEMPRA | COM | 816851109 |  | 71279254 | 807331 | SH |  | OTR | 01 | 0 | 807331 | 0 |
| SOUTHERN CO COM | COM | 842587107 |  | 2149306 | 24648 | SH |  | SOLE |  | 10089 | 0 | 14559 |
| T-MOBILE US INC COM | COM | 872590104 |  | 30585336 | 150637 | SH |  | SOLE |  | 136600 | 0 | 14037 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 395919502 | 1056236 | SH |  | SOLE |  | 1048655 | 0 | 7581 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 174473401 | 465461 | SH |  | OTR | 01 | 0 | 465461 | 0 |
| TAMBORAN RESOURCES CORP | COM | 87507T101 |  | 2723000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| TIC SOLUTIONS INC | COM | 00510N102 |  | 21736409 | 2149991 | SH |  | SOLE |  | 2102283 | 0 | 47708 |
| TXNM ENERGY INC | COM | 69349H107 |  | 145884797 | 2477663 | SH |  | SOLE |  | 2475642 | 0 | 2021 |
| UNION PAC CORP COM | COM | 907818108 |  | 18543305 | 80163 | SH |  | SOLE |  | 69884 | 0 | 10279 |
| UNITIL CORP | COM | 913259107 |  | 13321000 | 275000 | SH |  | SOLE |  | 275000 | 0 | 0 |
| VERTIV HOLDINGS CO | COM | 92537N108 |  | 13427389 | 82880 | SH |  | SOLE |  | 78463 | 0 | 4417 |
| VISTRA CORP. | COM | 92840M102 |  | 191794267 | 1188832 | SH |  | SOLE |  | 1178971 | 0 | 9861 |
| VISTRA CORP. | COM | 92840M102 |  | 162694852 | 1008460 | SH |  | OTR | 01 | 0 | 1008460 | 0 |
| WATERBRIDGE INFRASTRUCTURE LLC | COM | 940923105 |  | 9004500 | 450000 | SH |  | SOLE |  | 450000 | 0 | 0 |
| WEC ENERGY GROUP INC COM | COM | 92939U106 |  | 30895245 | 292957 | SH |  | SOLE |  | 292426 | 0 | 531 |
| WEC ENERGY GROUP INC COM | COM | 92939U106 |  | 8916010 | 84544 | SH |  | OTR | 01 | 0 | 84544 | 0 |
| WILLIAMS COS INC COM | COM | 969457100 |  | 77807406 | 1294417 | SH |  | SOLE |  | 1292930 | 0 | 1487 |
| XCEL ENERGY INC COM | COM | 98389B100 |  | 165114621 | 2235508 | SH |  | SOLE |  | 2234754 | 0 | 754 |
| XCEL ENERGY INC COM | COM | 98389B100 |  | 99298123 | 1344410 | SH |  | OTR | 01 | 0 | 1344410 | 0 |
| X-ENERGY REACTOR CO. LLC SERIE | PFD | 984111777 |  | 27499991 | 1891802 | SH |  | SOLE |  | 1891802 | 0 | 0 |
| ENTERPRISE PRODUCTS PARTNERS L | LP | 293792107 |  | 112015716 | 3493940 | SH |  | SOLE |  | 3493940 | 0 | 0 |
| MPLX LP COM UNIT REP LTD | LP | 55336V100 |  | 35784585 | 670500 | SH |  | SOLE |  | 670500 | 0 | 0 |
| REAVES UTIL INCOME FD COM SH B | CEF | 756158101 |  | 3048067 | 83326 | SH |  | SOLE |  | 1737 | 0 | 81589 |

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