An integrated circuit having a regulator circuit capable of tracking reference voltages is provided. The integrated circuit includes shunt regulator circuitry. The shunt regulator circuitry includes a shunt regulator circuit and a voltage tracking circuit. The shunt regulator circuit has an output on which a regulated voltage is provided. The shunt regulator circuit also provides electrical current to the output when the regulated voltage is outside of a voltage range bounded by first and second reference voltages. The voltage tracking circuit may be coupled to the shunt regulator circuit. The voltage tracking circuit may generate the first and second reference voltages. In one instance, the first voltage is greater than the regulated voltage and the second voltage is less than the regulated voltage.