Reaves Utility Income Fund
US ˙ NYSEAM

SecurityUTG / Reaves Utility Income Fund
InstitutionStifel Financial Corp
Latest Disclosed Ownership298,420 shares
Latest Disclosed Value $ 11,721,804
Stifel Financial Corp reports 5.22% increase in ownership of UTG / Reaves Utility Income Fund

On May 12, 2026 - Stifel Financial Corp filed a 13F-HR form disclosing ownership of 298,420 shares of Reaves Utility Income Fund (US:UTG) valued at $11,721,938 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 283,606 shares of Reaves Utility Income Fund. This represents a change in shares of 5.22% during the quarter. The current value of the position is $12,459,035 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-12 2026-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 298,420 14,814 5.22 11,722 12.98 0.0025
2026-02-13 2025-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 283,606 19,997 7.59 10,375 -0.67 0.0093
2025-11-12 2025-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 263,609 8,440 3.31 10,444 13.14 0.0095
2025-08-14 2025-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 255,169 31,446 14.06 9,232 26.82 0.0090
2025-05-14 2025-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 223,723 20,544 10.11 7,280 13.06 0.0077
2025-02-13 2024-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 203,179 21,341 11.74 6,439 7.91 0.0067
2024-11-14 2024-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 181,838 12,947 7.67 5,966 29.30 0.0063
2024-08-13 2024-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 168,891 5,823 3.57 4,614 4.96 0.0052
2024-05-14 2024-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 163,068 -1,824 -1.11 4,396 -0.29 0.0050
2024-02-12 2023-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 164,892 3,782 2.35 4,409 11.03 0.0055
2023-11-13 2023-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 161,110 10,649 7.08 3,971 -3.73 0.0056
2023-08-14 2023-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 150,461 -81 -0.05 4,126 -3.44 0.0056
2023-05-12 2023-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 150,542 16,876 12.63 4,272 13.08 0.0061
2023-02-13 2022-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 133,666 -178 -0.13 3,779 3.62 0.0057
2022-11-14 2022-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 133,844 4,933 3.83 3,646 -8.76 0.0060
2022-08-15 2022-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 128,911 2,216 1.75 3,996 -8.75 0.0063
2022-05-13 2022-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 126,695 502 0.40 4,379 -1.20 0.0060
2022-02-14 2021-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 126,193 2,263 1.83 4,432 9.14 0.0059
2021-11-15 2021-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 123,930 9,244 8.06 4,061 3.20 0.0060
2021-08-13 2021-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 114,686 -2,721 -2.32 3,935 0.05 0.0059
2021-05-14 2021-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 117,407 -2,956 -2.46 3,933 -0.33 0.0065
2021-02-12 2020-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 120,363 872 0.73 3,946 5.54 0.0070
2020-11-16 2020-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 119,491 4,957 4.33 3,739 8.16 0.0077
2020-08-14 2020-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 114,534 -4,639 -3.89 3,457 0.70 0.0079
2020-05-14 2020-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 119,173 34,058 40.01 3,433 8.64 0.0095
2020-02-13 2019-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 85,115 2,191 2.64 3,160 3.74 0.0066
2019-11-19 2019-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 82,924 4,020 5.09 3,046 7.48 0.0078
2019-11-13 2019-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 82,924 4,020 3,046 1,707.4357
2019-08-14 2019-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 78,904 1,160 1.49 2,834 8.13 0.0073
2019-05-14 2019-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 77,744 9,972 14.71 2,621 31.18 0.0074
2019-02-13 2018-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 67,772 -85,963 -55.92 1,998 -57.50 0.0065
2018-11-13 2018-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 153,735 -5,543 -3.48 4,701 2.20 0.0135
2018-08-14 2018-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 159,278 12,120 8.24 4,600 10.95 0.0141
2018-05-11 2018-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 147,158 -5,672 -3.71 4,146 -12.33 0.0131
2018-02-14 2017-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 152,830 115,787 312.57 4,729 304.19 0.0150
2017-11-13 2017-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 37,043 5,882 18.88 1,170 9.35 0.0041
2017-08-14 2017-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 31,161 3,238 11.60 1,070 18.10 0.0040
2017-05-10 2017-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 27,923 -847 -2.94 906 2.84 0.0035
2017-02-16 2016-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 28,770 5,300 22.58 881 23.22 0.0037
2016-11-15 2016-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 23,470 -60,755 -72.13 715 -73.88 0.0032
2016-08-17 2016-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 84,225 51,489 157.29 2,737 179.86 0.0127
2016-05-16 2016-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 32,736 11,260 52.43 978 75.27 0.0052
2016-03-21 2015-12-31 13F/A-2 REAVES UTIL INCOME FD COM SH BEN INT 756158101 21,476 -927 -4.14 558 -11.29 0.0029
2016-02-26 2015-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 21,476 0 558 0.0029
2016-02-16 2015-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 21,476 3,404
2015-11-16 2015-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 22,403 1,920 9.37 629 7.34 0.0035
2015-08-17 2015-06-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 20,483 4,413 27.46 586 20.58 0.0030
2015-08-17 2015-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 20,483 586
2015-05-14 2015-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 16,070 76 0.48 486 -7.43 0.0027
2015-02-13 2014-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 15,994 -1,587 -9.03 525 2.94 0.0029
2014-11-13 2014-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 17,581 0 0.00 510 -3.23 0.0045
2014-08-14 2014-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 17,581 -5,099 -22.48 527 -16.35 0.0047
2014-05-15 2014-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 22,680 22,680 630 0.0060
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.