UTG - Reaves Utility Income Fund

What this means for you

No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

Nothing on file yet. No large investor has reported a stake in this fund, and the fund has not announced a buy-back, a vote or a closing.

About this fund

• Run by Reaves Asset Management. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Size: about $4.05 billion of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 19% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.7% a year in management fees; 2.1% a year in total, including interest on borrowed money. Fiscal year ended Oct 31, 2025. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Oct 31, 2025) the fund paid $2.32 a share. $0.25 of that was income; $2.07 came from gains. As of Oct 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Oct 31, 2025): $38.85. The shares traded at $38.22, about 1.6% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 6% below to 2.8% above. As of Oct 31, 2025, from the fund's annual report. Original document →
• How the holdings did: up 15.3% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +39.4%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Oct 31, 2025): the value of the holdings returned +27.3%. How the share price did: the shares returned +25.5% over the same year, counting payouts and the change in the market price. As of Oct 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2003.

What the fund holds

Almost all shares (99%). About 91% issued in the U.S.

1. Talen Energy - 9.3%
2. CenterPoint Energy - 4.8%
3. Idacorp - 4.7%
4. Constellation Energy - 4.7%
5. Xcel Energy - 4.4%
6. GE Vernova - 4.3%
7. Equinix - 4.2%
8. Entergy - 4.2%
9. Vistra - 4.1%
10. MP Materials - 4%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →