Reaves Dividend Income Strategy Second Quarter 2022

In a challenging quarter for equities, the Reaves Dividend Income Strategy declined by 8.2%, net of fees, outpacing the S&P 500 Index but lagging the MSCI USA Infrastructure Index.

Reaves Long Term Value Strategy Second Quarter 2022

In a challenging quarter for equities, the Reaves Long Term Value Strategy declined by 10.8% before fees, outpacing the S&P 500 Index but lagging the MSCI USA Infrastructure Index.

Reaves Long Term Value Strategy Second Quarter 2022

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q2 2022 Reaves Long Term Value Strategy Fact Sheet.

Reaves Dividend Income Strategy Second Quarter 2022

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q2 2022 Reaves Dividend Income Strategy Fact Sheet.

Reaves Dividend Income Strategy First Quarter 2022

The defensive characteristics of the Reaves Dividend Income investment strategy proved to be popular during a volatile first quarter of 2022. The Reaves Dividend Income Composite increased by 4.0% in the quarter, before fees.

Reaves Long Term Value Strategy First Quarter 2022

The defensive characteristics of the Reaves LTV investment strategy helped to minimize portfolio declines during a volatile first quarter of 2022. The Reaves LTV Wrap Composite declined by 2.2% in the quarter, before fees.

Reaves Dividend Income Strategy First Quarter 2022

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q1 2022 Reaves Dividend Income Strategy Fact Sheet.

Reaves Long Term Value Strategy First Quarter 2022

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q1 2022 Reaves Long Term Value Strategy Fact Sheet.

Reaves Dividend Income Strategy Fourth Quarter 2021

The Reaves Dividend Income Strategy’s composite performance ended the year on a strong note. The strategy was up 10.7% in the fourth quarter, net of fees, bringing the total return for the year to 18.2%. Both the quarterly and annual performance exceeded the MSCI USA Infrastructure Index.

Reaves Long Term Value Strategy Fourth Quarter 2021

The Reaves LTV Strategy advanced strongly in the final quarter of 2021 and finished the year with a total return before management fees of 16.6%. Over the past five years, total annualized return, before fees, was 11.2%. In all three time periods, the strategy outperformed the MSCI USA infrastructure Index but lagged the more broad-based S&P 500 Index.

Reaves Dividend Income Strategy Fourth Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q4 2021 Reaves Dividend Income Strategy Fact Sheet.

Reaves Long Term Value Strategy Fourth Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q4 2021 Reaves Long Term Value Strategy Fact Sheet.

How Can Reaves Help Solve My Unmet Investment Needs?

This primer looks at each of our investment strategies through the lens that matters most: Yours. In a short read, we provide an overview of each of our investment strategies and let you decide which one may help you solve for an unmet investment need.

Reaves Dividend Income Strategy Third Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q3 2021 Reaves Dividend Income Strategy Fact Sheet.

Reaves Long Term Value Strategy Third Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q3 2021 Reaves Long Term Value Strategy Fact Sheet.

Reaves Dividend Income Strategy Third Quarter 2021

The Reaves Dividend Income Strategy’s composite performance was strong in July and August before a change in sentiment due to worries about inflation and a slowing economy led to a selloff in September. The portfolio, net of fees, was down 0.8% in the third quarter which reduced performance for the first nine months of 2021 to about 6.8%. The current yield on the portfolio is 4.0%.

Reaves Long Term Value Strategy Third Quarter 2021

Performance for the Reaves LTV Wrap Composite was strong in July and August before a change in sentiment due to worries about inflation and a slowing economy led to a selloff in September. The portfolio was down approximately 1.9% in the third quarter reducing year-to-date performance, before fees, to about 5.6%.

Rethinking 60/40: The Case for Defensive Equities

For decades, investment advisers have served their clients well by using the classic 60/40 rule as a starting point for portfolio diversification. But it may be time to reconsider the traditional asset allocation model. This investment brief explores how investors may substitute a slice of their bond allocation to improve returns without moving too far up the risk spectrum.

Reaves Dividend Income Strategy Second Quarter 2021

The Reaves Dividend Income Strategy returned 4.2% in the second quarter, bringing year-todate returns to 7.7%. The portfolio’s dividend yield, as of 6/30/21, was 4.0%; four out of nineteen portfolio holdings1 increased dividends by an average of 7.6% during the quarter. Within the strategy, real estate and communication services were strong performers in the quarter, while utilities were slightly negative.

Reaves Long Term Value Strategy Second Quarter 2021

The Reaves LTV Wrap Composite returned 5.6%, gross of fees, in the second quarter of 2021, bringing the year-to-date return to 7.7%, gross of fees. REITs and communications were strong positive contributors in the quarter, while utilities and industrials generated a slightly negative return.

Reaves Long Term Value Strategy Second Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q2 2021 Reaves Long Term Value Strategy Fact Sheet.

Reaves Dividend Income Strategy Second Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q2 2021 Reaves Dividend Income Strategy Fact Sheet.

Reaves Long Term Value Strategy First Quarter 2021

The Reaves LTV Wrap Composite gained 1.9%, before fees, in the first quarter of 2021. This is compared to a gain of 6.2% for the S&P 500 Index. Beneath the surface of the strong market performance was a quarter characterized by high volatility and rapid rotation.

Reaves Long Term Value Strategy First Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q1 2021 Reaves Long Term Value Strategy Fact Sheet.

Reaves Dividend Income Strategy First Quarter 2021

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. Q1 2021 Reaves Dividend Income Strategy Fact Sheet.

A New Era for Infrastructure? What Investors Need to Know

Does infrastructure have a role to play in your clients’ portfolios? We discuss this topic in a webinar hosted by Havener Capital Partners.

Reaves Long Term Value Strategy Fourth Quarter 2020

Reaves Asset Management has over four decades of experience investing in publicly listed equities. Reaves is a privately held, independently owned company. View the Q4 2020 Reaves Long Term Value Strategy Fact Sheet.

Reaves Long Term Value Strategy Fourth Quarter 2020

In 2020, Reaves’ LTV Wrap Composite performed in line with what one may have expected from a defensive equity strategy in a year that included a global pandemic, a market crash, record high unemployment, and a disputed presidential election. Most companies in the portfolio grew earnings and raised dividends despite the challenges during the year, highlighting the essential nature of their services and the potential to remain profitable through the economic cycle.

Investors: You Asked, We Answered

Thousands of strategies. Hundreds of questions. Investment due diligence isn’t easy. We want to simplify it for you. Here are the answers to the most common questions advisers and consultants ask us during the due diligence process.

The Case for Essential Services Infrastructure

Investing in infrastructure companies using an essential service approach may help reduce downside risk in portfolios. We explain in this paper.

The Case for Actively Managed Utilities

Understanding and navigating inefficiencies in the utilities sector.

Q&A with Reaves CEO and Co-Portfolio Manager, Jay Rhame

How does investing in infrastructure companies provide natural downside protection? Reaves Asset Management CEO Jay Rhame explains.

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Reaves Long Term Value Strategy Third Quarter 2020

Reaves’ LTV Strategy Wrap Composite returned 8.7% in the third quarter of 2020, improving the year-to-date return to -2.4%. Excluding any de minimus positions, all segments of the composite were positive in the quarter, led by railroads, cable broadband, and utilities focused on renewable energy development. This last group is something we focus on in more detail below.

Reaves Long Term Value Strategy Second Quarter 2020

In the second quarter, the Reaves LTV Strategy Wrap Composite recovered a portion of last quarter’s COVID-induced decline. The advance was uneven, with growth stocks substantially outperforming defensive and value-oriented companies. Companies with visible long-term growth and economic re-opening stories were the winners.

Reaves Asset Management First Quarter 2020

Reaves Asset Management strives to invest in companies that we believe will be steady in good times and bad. We take comfort in knowing that essential electric, gas, water, and communications services will continue to be utilized even during this period of extreme economic disruption from the COVID-19 pandemic.

Reaves Long Term Value Strategy Fourth Quarter 2019

We are pleased to report that the Reaves Long Term Value Strategy (LTV)1 had a strong year in 2019 advancing by 31.4% gross of fees and 28.2% net of fees.

Reaves Asset Management Third Quarter 2019

Reaves Institutional Composite appreciated for the third consecutive quarter thanks to strong performance from holdings in the utilities and communications sectors.

Reaves Asset Management Second Quarter 2019

Reaves Institutional Composite had another strong quarter. The composite returned +4.1%, net-of-fees, in the second quarter of 2019, outperforming its benchmark return of +1.3%.

Reaves Asset Management First Quarter 2019

The first quarter of 2019 was Reaves’ third best quarter in our 41-year history of managing equity portfolios. Our institutional composite returned 15.8%, net of fees, with all sectors generating positive double-digit performance.

Reaves Asset Management Fourth Quarter 2018

At the beginning of 2018, investment strategists forecasted rising interest rates, strong economic growth and accelerating corporate earnings because of the federal tax cut. The conclusion was to sell utilities.

Reaves Asset Management Third Quarter 2018

One of the main reasons for Reaves’ historical outperformance is a contrarian investment philosophy – we look for growth in areas where investors typically focus on yield. When buying utilities, a manager is often making a macro decision, not a fundamental company decision.

Reaves Asset Management Second Quarter 2018

The ERISA Composite returned 6.67%, net of fees, during the second quarter, outperforming both Reaves’ custom equal-weighted benchmark and the S&P 500 Index returns of 5.38% and 3.43%, respectively.

Reaves Asset Management First Quarter 2018

The ERISA Composite returned -4.3%, net of fees, in the first quarter which trailed the -0.8% return of the S&P 500 Index. Our investments in communications stocks struggled due to investor concerns about merger and acquisition activity and video subscription levels at cable TV companies.