# EDGAR Filing Document

**Accession Number:** 0001263994
**File Stem:** 0001263994-25-000011
**Filing Date:** 2025-12
**Character Count:** 25671
**Document Hash:** daa5ba3273af113e9c7d340f965dc8c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001263994-25-000011.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001263994-25-000011

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REAVES UTILITY INCOME FUND
- **CENTRAL INDEX KEY:** 0001263994

**ORGANIZATION NAME:**
- **EIN:** 200223928
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21432
- **FILM NUMBER:** 251603884

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290
- **BUSINESS PHONE:** 3036232577

**MAIL ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 1850
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80290

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UTILITY INCOME TRUST
- **DATE OF NAME CHANGE:** 20030917

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Reaves Utility Income Fund

- **b. Investment Company Act file number:** 811-21432

- **c. CIK number of Registrant:** 0001263994

- **d. LEI of Registrant:** 549300GS807NR3X3LH36

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1700 Broadway Suite 1850

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80290

  - **Telephone number:** 8006445571

**Item A.2. Information about the Series.**

- **a. Name of Series:** Reaves Utility Income Fund

- **c. LEI of Series:** 549300GS807NR3X3LH36

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4401305368.52

**Total Liabilities:** $878016914.92

**Net Assets:** $3523288453.60

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.36%               | 4.96%                | -3.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3939724.81             | $-51982019.12                              |
| Month 2  | $25967428.60             | $145490047.82                              |
| Month 3  | $16240649.54             | $-39712430.83                              |

### Schedule of Portfolio Investments

| Name                            | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Telenor ASA                     | Telenor ASA                                | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |   1012388 | NS      | $15052015.97  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co              | Vertiv Holdings Co                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     70000 | NS      | $13500200.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                     | Cameco Corp                                | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |   1297200 | NS      | $132586812.00 | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp         | SBA COMMUNICATIONS CORP CLASS A            | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |    345200 | NS      | $66098896.00  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp             | Alliant Energy Corp                        | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |   1842715 | NS      | $123130216.30 | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc     | American Water Works Co Inc                | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |    275000 | NS      | $35318250.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                        | PPL Corp                                   | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |   2818846 | NS      | $102944255.92 | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc        | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     49000 | NS      | $8350090.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp       | Constellation Energy Corp                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |    572820 | NS      | $215953141.32 | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                     | Corning Inc                                | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |    513800 | NS      | $45769304.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                        | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |   1005000 | NS      | $53847900.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The            | Williams Cos Inc/The                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    965000 | NS      | $55844550.00  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                   | DTE Energy Co                              | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |    410000 | NS      | $55571400.00  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| WaterBridge Infrastructure LLC  | WaterBridge Infrastructure LLC             | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    450000 | NS      | $10800000.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc   | Everus Construction Group Inc              | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |     12500 | NS      | $1136125.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp       | Chesapeake Utilities Corp                  | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     30000 | NS      | $3818400.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                 | Xcel Energy Inc                            | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |   2133600 | NS      | $173184312.00 | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SOFR 1MM 04/23/27               | SOFR 1MM 04/23/27                          | CUSIP: N/A<br>LEI: N/A                        | Long             | DIR              |  | US        |         1 | NC      | $-1144.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy Inc                  | NRG Energy Inc                             | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     30000 | NS      | $5155800.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corp                      | TELUS Corp                                 | CUSIP: 87971M103<br>LEI: 894500WE70KKZRQMBU11 | Long             | EC               | CORP              | CA        |   3873400 | NS      | $56642140.39  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc          | CenterPoint Energy Inc                     | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   5061007 | NS      | $193532907.68 | 5.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                       | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    505239 | NS      | $33851013.00  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp               | MP Materials Corp                          | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |   2455909 | NS      | $154943298.81 | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SOFR 50MM 07/23/27              | SOFR 50MM 07/23/27                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DIR              |  | US        |         1 | NC      | $-69338.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Public Service Enterprise Grou  | Public Service Enterprise Grou             | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |   1100000 | NS      | $88616000.00  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Communications Parent  | Frontier Communications Parent             | CUSIP: 35909D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    549200 | NS      | $20737792.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                     | Ameren Corp                                | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |    516500 | NS      | $52693330.00  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Treasury Obli  | FEDERATED HERMES TREASURY OBLIGATIONS FUND | CUSIP: 60934N500<br>LEI: 254900WUIGYHOH89FC60 | Long             | STIV             | RF                | US        |   3233084 | NS      | $3233084.35   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                 | OGE Energy Corp                            | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |   1098395 | NS      | $48483155.30  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp             | American Tower Corp                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     97072 | NS      | $17373946.56  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co            | Lamar Advertising Co                       | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     25000 | NS      | $2964750.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TIC Solutions Inc               | TIC Solutions Inc                          | CUSIP: 00510N102<br>LEI: 213800ZDFRNC8QXEZ481 | Long             | EC               | CORP              | US        |    630000 | NS      | $7641900.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp      | Pinnacle West Capital Corp                 | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |   1177200 | NS      | $104205744.00 | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                        | Enel SpA                                   | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |   2385257 | NS      | $24117332.78  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                  | GE Vernova Inc                             | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     36000 | NS      | $21065040.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                 | T-Mobile US Inc                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     77000 | NS      | $16173850.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings  | Cogent Communications Holdings             | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    395000 | NS      | $16293750.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc      | Charter Communications Inc                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |    164600 | NS      | $38490064.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc                 | TXNM Energy Inc                            | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |   2421722 | NS      | $137553809.60 | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                     | Unitil Corp                                | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    275000 | NS      | $13406250.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp             | Centrus Energy Corp                        | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |    146558 | NS      | $53854202.68  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                | Crown Castle International Corp            | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    245000 | NS      | $22103900.00  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP | Enterprise Products Partners LP            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |   3493940 | NS      | $107578412.60 | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                    | Entergy Corp                               | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |   1534600 | NS      | $147459714.00 | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                    | Comcast Corp                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   1832400 | NS      | $51004854.00  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp           | Norfolk Southern Corp                      | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |    142000 | NS      | $40239960.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Rice Acquisition Corp 3         | Rice Acquisition Corp 3                    | CUSIP: G7553X122<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |   2400000 | NS      | $26160000.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp               | Atmos Energy Corp                          | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |     50000 | NS      | $8586000.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc             | Quanta Services Inc                        | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |    238900 | NS      | $107297157.00 | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                    | NiSource Inc                               | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |   3321100 | NS      | $139851521.00 | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp                 | CMS Energy Corp                            | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |   1516361 | NS      | $111528351.55 | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                     | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |    146741 | NS      | $124144353.41 | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc            | WEC Energy Group Inc                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |    236000 | NS      | $26368280.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithium Americas Corp           | Lithium Americas Corp                      | CUSIP: 53681J103<br>LEI: 529900Q9ENG7EHHZ5R75 | Long             | EC               | CORP              | CA        |    340000 | NS      | $1870000.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp               | Talen Energy Corp                          | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1009796 | NS      | $403696244.88 | 11.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp         | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    100000 | NS      | $19491000.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                          | Sempra Energy                              | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   1206378 | NS      | $110914393.32 | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc            | Dycom Industries Inc                       | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |    120000 | NS      | $34534800.00  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST IV                    | SCE TRUST IV EIX 5 3/8 PERP Class J        | CUSIP: 78409G206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     63125 | NS      | $1499218.75   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp              | Union Pacific Corp                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     68000 | NS      | $14985160.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                | DT Midstream Inc                           | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    571563 | NS      | $62580432.87  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc              | NextEra Energy Inc                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    305500 | NS      | $24867700.00  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                     | IDACORP Inc                                | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |   1287100 | NS      | $166061642.00 | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Tamboran Resources Corp         | Tamboran Resources Corp                    | CUSIP: 87507T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $2478000.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG             | Deutsche Telekom AG                        | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |   4461042 | NS      | $138268288.88 | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                         | MPLX LP                                    | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |    670500 | NS      | $34034580.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc       | Rogers Communications Inc                  | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |    648000 | NS      | $25360037.08  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                     | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |   1140500 | NS      | $214756150.00 | 6.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SOFR 200MM 04/23/27             | SOFR 200MM 04/23/27                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DIR              |  | US        |         1 | NC      | $-17780.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** Reaves Utility Income Fund

**Signature:** Jill Kerschen

**Name of Signer:** Jill Kerschen

**Title:** Treasurer