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Reaves W H & Co Inc's second-quarter 2026 investor letter reports a 10.55% increase for its "Reaves Long Term Value Wrap Strategy," outperforming the MSCI USA Infrastructure Index's 6.31% decline. The letter can be downloaded here. Cash distributions grew 6.7% in the quarter compared to Q2 2025. Despite geopolitical uncertainty, investor sentiment remained strong. AI expansion benefits companies in construction, connectivity, and infrastructure, especially in utility, communication, engineering, electrical, and power sectors. The strategy's performance benefited from investments across the AI infrastructure ecosystem and support for physical infrastructure supporting AI at scale. Although risks persist, the long-term investment case for many companies remains strong, positioning the strategy for durable growth, increasing dividends, and attractive long-term returns. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.
In its second-quarter 2026 investor letter, Reaves Long Term Value Wrap Strategy highlighted T-Mobile US, Inc. (NASDAQ:TMUS). T-Mobile US, Inc. (NASDAQ:TMUS), a leading wireless communications services provider, detracted from performance this quarter. On September 16, 2026, T-Mobile US, Inc. (NASDAQ:TMUS) closed at $176.26 per share. Over the past month, T-Mobile US, Inc. (NASDAQ:TMUS) declined 4.90%, but its shares are down 27.84% over the past year. T-Mobile US, Inc. (NASDAQ:TMUS) has a market capitalization of $184.95 billion, and its stock has traded within a 52-week range of $165.66 to $242.37.
Reaves Long Term Value Wrap Strategy stated the following regarding T-Mobile US, Inc. (NASDAQ:TMUS) in its Q2 2026 investor letter:
"T-Mobile US, Inc. (NASDAQ:TMUS): Shares of T-Mobile US languished along with US wireless peers during the quarter on renewed concerns about competitive intensity. Notably, new pricing plans at Verizon and AT&T narrowed the premium gap to T-Mobile at retail, while satellite headline risk reached feverish levels around the much-anticipated SpaceX IPO. We think Starlink lacks the assets to be disruptive to wireless in the near term but acknowledge the overhang may persist. Additionally, rumors that parent company Deutsche Telekom may be interested in consolidating the TMUS minority shreholders pressured the stock."
T-Mobile US, Inc. (NASDAQ:TMUS) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 85 hedge fund portfolios held T-Mobile US, Inc. (NASDAQ:TMUS) at the end of the second quarter, the same as in the previous quarter. While we acknowledge the potential of T-Mobile US, Inc. (NASDAQ:TMUS) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we discussed T-Mobile US, Inc. (NASDAQ:TMUS) and shared Gabelli Fund's insights on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
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This article is originally published at Insider Monkey.
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