Magellan Expands Utility Holdings Across U.S.

Magellan Asset Management Ltd disclosed new holdings in multiple U.S. utilities during the second quarter, expanding its stake across several companies. The fund bought 29,063 shares of H2O America (HTO), valued around $1.77 million, and accumulated 1,987,533 shares of Alliant Energy (LNT) worth about $151.6 million, making it a sizable position. It also acquired 1,238,180 shares of WEC Energy Group (WEC) totaling roughly $144.6 million, confirming the stock as a notable holding. In addition, Magellan added 15,503 shares of Middlesex Water (MSEX) for about $871,000, and 61,416 shares of California Water Service Group (CWT) worth nearly $3.0 million. These moves reflect Magellan’s ongoing participation among institutional investors in the utilities sector, with multiple other funds adjusting their positions alongside it. Overall, the filings highlight Magellan’s diversified utility exposure and its role as a significant shareholder in several mid- and large-cap providers.