INDEPENDENT FINANCIAL GROUP, LLC

CIK

275484

City

SAN DIEGO

State / Country

CA

Stock

UTG — Reaves Utility Income Fund

Top Portfolio Positions

681 positions · $2,202,988,193 total · as of Mar 31, 2026

Ticker	Company	Shares	Value (USD)	% of Portfolio	Open
NVDA	Nvidia Corp Technology	1,690,306	$294,789,366	13.38%
AAPL	Apple Inc. Technology	492,087	$124,886,759	5.67%
QQQ	Invesco Qqq Trust, Series 1	184,658	$106,580,904	4.84%
AVGO	Broadcom Inc. Technology	310,121	$95,985,550	4.36%
AMZN	Amazon Com Inc Consumer Cyclical	383,080	$79,784,071	3.62%
SPY	Spdr S&P 500 ETF Trust	106,085	$68,991,318	3.13%
MSFT	Microsoft Corp Technology	185,111	$68,522,538	3.11%
PLTR	Palantir Technologies Inc. Technology	299,614	$43,827,535	1.99%
COST	Costco Wholesale Corp /New Consumer Defensive	34,887	$34,762,453	1.58%
GLD	Spdr Gold Trust	80,696	$34,722,681	1.58%

Portfolio Trend

25 quarters · across all stocks

Holdings in UTG

Compact Export CSV

Shares Held

Position Value (USD)

14 quarters on record

Report Date	Value (USD)	Shares	Change	Type	Discretion	Filed
2026-03-31	$3,406,636	86,727	-1.2%	Shares	Sole	2026-05-15
2025-12-31	$3,209,529	87,740	+0.7%	Shares	Sole	2026-05-15
2025-09-30	$3,451,535	87,116	-0.3%	Shares	Sole	2026-05-15
2025-06-30	$3,161,227	87,375	+4.0%	Shares	Sole	2026-05-15
2025-03-31	$2,734,661	84,040	+32.0%	Shares	Sole	2026-05-19
2024-12-31	$2,018,336	63,690	+13.5%	Shares	Sole	2026-06-12
2024-09-30	$1,840,772	56,104	+30.4%	Shares	Sole	2026-06-12
2024-06-30	$1,175,251	43,018	+90.1%	Shares	Sole	2026-06-12
2024-03-31	$610,077	22,629	+93.9%	Shares	Sole	2026-06-12
2023-12-31	$312,109	11,672	+35.6%	Shares	Sole	2026-06-12
2023-09-30	$212,236	8,610	+11.5%	Shares	Sole	2026-06-12
2022-12-31	$218,300	7,722	+19.0%	Shares	Sole	2026-06-15
2022-06-30	$201,097	6,487	-6.5%	Shares	Sole	2026-06-12
2022-03-31	$239,812	6,937	—	Shares	Sole	2026-06-12
No 13F history on record for this holder in this stock.