Reaves W H & Co Inc released its third-quarter 2026 investor letter for “Reaves Dividend Income Strategy”. The letter can be downloaded here. The strategy fell 9.98% (net) in the quarter, underperforming the MSCI USA Infrastructure benchmark’s 5.73% decline. Year-to-date net returns were 2.48%, ahead of the benchmark. Portfolio companies’ cash distributions grew 5.0% over the past 12 months. In the third quarter, rising Treasury yields, inflation risks, and tighter monetary policy weighed on equity markets, though fundamentals of strategy-related companies remain sound. Energy and telecommunications contributed positively, while utilities lagged amid rising rates. Utility holdings retain a favorable outlook, supported by growing electricity demand and infrastructure investment. Expanding AI infrastructure investment also creates opportunities in utilities and essential infrastructure. The strategy remains focused on high-quality businesses with durable cash flows and potential to grow earnings and dividends over the long term. Also, check the strategy’s top five holdings to see its best picks in 2026.
In its Q3 2026 investor letter, Reaves Dividend Income Strategy highlighted Chevron Corporation (NYSE:CVX) as a top portfolio contributor. Chevron Corporation (NYSE:CVX) engages in the integrated energy and chemicals operations. On October 12, 2026, Chevron Corporation (NYSE:CVX) closed at $215.00 per share. Over the past month, Chevron Corporation (NYSE:CVX) declined 1.27% and its shares gained 41.09% over the past 52 weeks. Chevron Corporation (NYSE:CVX) has a market capitalization of $424.79 billion with a 52-week trading range between $146.49 and $217.78.
Reaves Dividend Income Strategy stated the following regarding Chevron Corporation (NYSE:CVX) in its Q3 2026 investor letter:
“Chevron Corporation (NYSE:CVX): Chevron shares benefited from higher oil prices and continued strength in the company’s operating outlook. The company secured updated terms for its joint ventures in Venezuela, where its longstanding presence provides an opportunity to increase production and pursue additional development. We also see continued growth potential from the company’s resource positions in Argentina and the U.S., supporting a favorable outlook for cash flow and share holder returns.”
Chevron Moves to Increase Mediterranean Footprint with Greece Offshore Deal
Chevron Corporation (NYSE:CVX) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 101 hedge fund portfolios held Chevron Corporation (NYSE:CVX) at the end of the second quarter which was 103 in the previous quarter. While we acknowledge the risk and potential of Chevron Corporation (NYSE:CVX) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Chevron Corporation (NYSE:CVX) and that has 10,000% upside potential, check out our report about thischeapest AI stock.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
