REAVES W H & CO INC

Reaves W. H. & Co Inc. is an investment management firm based out of Jersey City, New Jersey. The company was originally established in 1961 by founder William H. Reaves, who had been the head of electric utility research at Kidder Peabody. Reaves W. H. & Co would then begin managing the first institutional account focused on utility and energy infrastructure in 1978. The company is focused on proprietary research and operates as an “employee-owned, research-based investment management company still specializing in key infrastructure-related industries such as utilities, energy, telecommunications and water.” Reaves W. H. & Co has grown from its inception to now operate with 26 employees and manages just under $3 billion in total assets under management spread across 700 accounts, all of which are discretionary accounts. Although its total number of accounts managed has been decreasing in recent years, having once been as high as over 1200, its total assets under management has been increasing, growing significantly from under $1.6 billion back in 2010 to approaching twice that amount today. Reaves W. H. & Co invests most heavily in the utilities and telecommunications sector, which alone makes up over two thirds of its entire asset allocations, and also invests in the energy, consumer discretionary, other, and transports sectors, among others to a lesser degree, in order of decreasing allocation. The company keeps its holdings on an average of approximately 19 quarters and had a most recent turnover rate of 18%. Reaves W. H. & Co mainly caters to high net worth individuals, which makes up three quarters of its client base, and also provides to individuals, investment companies, pension and profit sharing plans, charities, corporations, and insurance companies. Reaves W. H. & Co currently offers its Reaves Utilities and Energy Infrastructure Fund and Utility Income Fund on top of its separately managed accounts.