Reaves Utility Income Fund
US ˙ NYSEAM

SecurityUTG / Reaves Utility Income Fund
InstitutionMorgan Stanley
Latest Disclosed Ownership1,138,657 shares
Latest Disclosed Value $ 44,726,465
Morgan Stanley reports 6.45% increase in ownership of UTG / Reaves Utility Income Fund

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 1,138,657 shares of Reaves Utility Income Fund (US:UTG) valued at $44,726,447 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 1,069,694 shares of Reaves Utility Income Fund. This represents a change in shares of 6.45% during the quarter. The current value of the position is $47,538,930 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)
2026-05-15 2026-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 1,138,657 68,963 6.45 44,726 14.30 0.0027
2026-05-27 2025-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 1,069,694 67,615 6.75 39,129 -1.44 0.0023
2026-02-13 2025-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 1,069,694 67,615 39,129 0.0023
2026-05-27 2025-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 1,002,079 26,907 2.76 39,702 12.53 0.0024
2025-11-14 2025-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 1,002,079 26,907 39,702 0.0024
2025-08-15 2025-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 975,172 14,733 1.53 35,282 12.89 0.0023
2025-05-15 2025-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 960,439 83,357 9.50 31,253 12.44 0.0022
2025-05-15 2024-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 877,082 56,201 6.85 27,795 3.20 0.0019
2025-02-14 2024-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 877,082 56,201 27,795 0.0019
2025-05-14 2024-09-30 13F/A-2 REAVES UTIL INCOME FD COM SH BEN INT 756158101 820,881 76,555 10.29 26,933 32.45 0.0020
2025-02-14 2024-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 820,881 76,555 26,933 0.0020
2024-11-14 2024-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 820,881 76,555 26,933 0.0020
2025-05-14 2024-06-30 13F/A-2 REAVES UTIL INCOME FD COM SH BEN INT 756158101 744,326 6,420 0.87 20,335 2.22 0.0016
2024-10-17 2024-06-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 744,326 6,420 20,335 0.0016
2024-08-14 2024-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 744,326 6,420 20,335 0.0016
2024-10-17 2024-03-31 13F/A-2 REAVES UTIL INCOME FD COM SH BEN INT 756158101 737,906 11,158 1.54 19,894 2.37 0.0016
2024-08-16 2024-03-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 737,906 11,158 19,894 0.0002
2024-05-15 2024-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 737,906 11,158 19,894 0.0016
2024-08-16 2023-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 726,748 17,838 2.52 19,433 11.21 0.0017
2024-02-13 2023-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 726,748 17,838 19,433 0.0017
2023-11-15 2023-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 708,910 34,820 5.17 17,475 -5.46 0.0018
2023-08-14 2023-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 674,090 -25,028 -3.58 18,484 -6.84 0.0018
2023-05-15 2023-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 699,118 47,304 7.26 19,841 7.67 0.0021
2023-02-14 2022-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 651,814 17,321 2.73 18,427 6.61 0.0021
2022-11-14 2022-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 634,493 12,784 2.06 17,283 -10.33 0.0024
2022-10-27 2022-06-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 621,709 -13,401 -2.11 19,273 -12.22 0.0025
2022-08-15 2022-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 621,709 -13,401 19,273 0.0005
2022-10-27 2022-03-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 635,110 43,526 7.36 21,956 5.68 0.0030
2022-05-13 2022-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 635,110 43,526 21,956 0.0030
2022-02-14 2021-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 591,584 47,911 8.81 20,776 16.61 0.0026
2021-11-15 2021-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 543,673 21,352 4.09 17,816 -0.59 0.0024
2021-08-23 2021-06-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 522,321 -18,325 -3.39 17,921 -1.05 0.0024
2021-08-16 2021-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 522,321 -18,325 17,921 0.0005
2021-05-17 2021-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 540,646 -12,682 -2.29 18,112 -0.18 0.0027
2021-02-16 2020-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 553,328 31,732 6.08 18,144 11.17 0.0028
2020-11-13 2020-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 521,596 -7,875 -1.49 16,321 2.14 0.0032
2020-08-14 2020-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 529,471 -69,955 -11.67 15,979 -7.28 0.0035
2020-05-26 2020-03-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 599,426 11,035 1.88 17,233 -20.97 0.0047
2020-05-15 2020-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 599,426 11,035 17,233 1,323.8536
2020-02-14 2019-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 588,391 13,593 2.36 21,806 3.37 0.0051
2019-11-14 2019-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 574,798 -4,929 -0.85 21,095 1.64 0.0056
2019-08-14 2019-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 579,727 27,521 4.98 20,754 11.59 0.0055
2019-05-15 2019-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 552,206 10,688 1.97 18,599 16.70 0.0053
2019-02-14 2018-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 541,518 34,595 6.82 15,937 2.54 0.0048
2019-04-23 2018-09-30 13F/A-2 REAVES UTIL INCOME FD COM SH BEN INT 756158101 506,923 14,842 3.02 15,542 9.25 0.0039
2018-11-20 2018-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 506,923 0 15,542 0.0039
2018-11-14 2018-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 506,923 14,842 15,542
2019-04-23 2018-06-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 492,081 -35,490 -6.73 14,226 -4.49 0.0038
2018-08-14 2018-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 492,081 -35,490 14,226
2019-04-23 2018-03-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 527,571 93,766 21.61 14,894 10.97 0.0041
2018-05-14 2018-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 527,571 93,766 14,894
2019-04-23 2017-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 433,805 81,568 23.16 13,422 20.20 0.0037
2018-02-14 2017-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 433,805 192,438 13,422
2017-11-14 2017-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 352,237 -5,468 -1.53 11,166 -9.09 0.0033
2017-08-11 2017-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 357,705 13,293 3.86 12,283 10.11 0.0037
2017-05-22 2017-03-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 344,412 -17,210 -4.76 11,155 0.45 0.0034
2017-05-12 2017-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 344,412 11,155
2017-02-22 2016-12-31 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 361,622 30,411 9.18 11,105 9.70 0.0036
2017-02-13 2016-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 361,622 11,105
2016-11-10 2016-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 331,211 -2,011 -0.60 10,123 -6.43 0.0035
2016-08-12 2016-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 333,222 -60,133 -15.29 10,819 -8.26 0.0039
2016-05-12 2016-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 393,355 52 0.01 11,793 15.46 0.0045
2016-02-09 2015-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 393,303 138,149 54.14 10,214 42.51 0.0037
2016-02-08 2015-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 255,154 -8,543 -3.24 7,167 -5.20 0.0026
2015-11-09 2015-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 255,154 7,167
2015-08-12 2015-06-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 263,697 -22,986 -8.02 7,560 -12.85 0.0026
2015-05-14 2015-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 286,683 -63,592 -18.15 8,675 -24.61 0.0032
2015-02-13 2014-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 350,275 39,183 12.60 11,507 27.42 0.0042
2014-12-16 2014-09-30 13F/A-1 REAVES UTIL INCOME FD COM SH BEN INT 756158101 311,092 -12,854 -3.97 9,031 0.42 0.0035
2014-11-14 2014-09-30 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 311,092 9,031
2014-05-13 2014-03-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 323,946 51,601 18.95 8,993 31.61 0.0038
2014-02-13 2013-12-31 13F REAVES UTIL INCOME FD COM SH BEN INT 756158101 272,345 9,984 3.81 6,833 3.89 0.0029
2013-11-13 2013-09-30 13F REAVES UTILITY COM 756158101 262,361 -52,742 -16.74 6,577 -17.74 0.0031
2013-08-08 2013-06-30 13F REAVES UTILITY COM 756158101 315,103 315,103 7,995 0.0040
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.