MILLER HOWARD INVESTMENTS INC /NY

CIK

903947

Location

KINGSTON, NY

Portfolio Value

Mid $3,591,726,975

Diversification

Diversified

Filing Date

Global Rank

#831 / 8,622 ▲ 75 · as of Mar 2026

Top Industry

Oil & Gas Midstream 31.5%

3Y Alpha vs SPY

-0.3%

Period ended 4 months ago

Filed Apr 20, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+70.0%

SPY

+67.9%

Annualised alpha

+0.5%

Max drawdown

−14.2%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

132 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

3.6%

−0.3 pts

Top 5

14.9%

−1.2 pts

Top 10

26.3%

−2.9 pts

HHI

164

Diversified−14

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	40.6%	$1,457,447,660	44
Financial Services	16.4%	$588,328,949	14
Utilities	11.0%	$395,771,635	33
Healthcare	10.9%	$392,883,442	6
Real Estate	5.4%	$195,737,856	6
Communication Services	4.3%	$153,689,483	5
Technology	3.3%	$119,800,631	7
Industrials	2.7%	$98,138,931	12
Basic Materials	2.6%	$91,858,683	2
Consumer Defensive	1.6%	$56,832,397	2
Consumer Cyclical	1.1%	$41,237,308	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
GAP	Gap Inc	+900,855	1,704,021	$41,237,308
HRL	Hormel Foods Corp /De/	+714,080	1,423,720	$32,247,258
CMCSA	Comcast Corp	+369,452	1,278,695	$36,711,333
VZ	Verizon Communications Inc	+297,010	1,097,506	$55,094,801
PAGP	Plains Gp Holdings LP	+291,397	1,421,518	$34,514,457
EXC	Exelon Corp	+241,854	1,685,069	$82,602,082
CME	Cme Group Inc.	+191,793	195,433	$57,721,136
TRP	Tc Energy Corp	+158,686	1,294,518	$81,036,826
LAMR	Lamar Advertising Co/New	+152,833	468,026	$59,280,173
ELS	Equity Lifestyle Properties Inc	+151,390	799,961	$49,933,565
SUN	Sunoco LP	+126,964	816,233	$53,030,658
HST	Host Hotels & Resorts, Inc.	+103,736	2,417,960	$46,328,113
WES	Western Midstream Partners, LP	+93,543	1,584,975	$65,253,420
OKE	Oneok Inc /New/	+75,105	358,317	$32,388,273
ENB	Enbridge Inc	+71,014	1,170,678	$63,380,506
TRGP	Targa Resources Corp.	+62,652	230,592	$57,816,332
KNTK	Kinetik Holdings Inc.	+59,942	146,317	$7,083,205
KMI	Kinder Morgan, Inc.	+57,198	1,822,905	$61,122,004
CNQ	CANADIAN NATURAL RESOURCES Ltd	+56,091	1,440,125	$70,177,291
PAYX	Paychex Inc	+51,477	430,548	$39,662,081
EPD	Enterprise Products Partners L.P.	+48,087	3,160,206	$119,582,195
HESM	Hess Midstream LP	+45,584	1,491,899	$57,990,114
PBA	Pembina Pipeline Corp	+45,567	567,713	$25,410,833
EMN	Eastman Chemical Co	+45,077	600,368	$45,820,085
COP	Conocophillips	+42,352	609,900	$80,506,800
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AM	Antero Midstream Corp	−839,531	1,138,874	$25,966,327
CSCO	Cisco Systems, Inc.	−660,205	574,087	$44,543,410
ORI	Old Republic International Corp	−337,275	1,658,950	$66,192,105
SOBO	South Bow Corp	−270,559	527,789	$17,585,929
GILD	Gilead Sciences, Inc.	−261,540	393,238	$54,805,580
C	Citigroup Inc	−117,219	469,968	$53,299,070
JNJ	Johnson & Johnson	−107,998	404,296	$98,826,114
WMB	Williams Companies, Inc.	−80,433	870,105	$63,326,241
MPLX	Mplx LP	−76,227	2,239,694	$127,819,336
NI	Nisource Inc.	−67,795	193,840	$9,044,574
PPL	PPL Corp	−62,038	282,632	$10,796,542
PAA	Plains All American Pipeline LP	−52,915	2,801,601	$62,559,750
LBRT	Liberty Energy Inc.	−22,332	73,902	$2,128,377
JEF	Jefferies Financial Group Inc.	−16,765	11,843	$488,760
CMS	Cms Energy Corp	−14,312	563,102	$43,685,453
GSK	GSK plc	−12,763	1,629,351	$89,923,881
XOM	ExxonMobil Holdings Corp	−12,286	10,935	$1,855,232
ET	Energy Transfer LP	−12,264	5,216,847	$100,685,147
BAC	Bank Of America Corp /De/	−11,158	1,036,866	$50,547,217
MDT	Medtronic plc	−9,090	714,803	$61,937,679
STAG	STAG Industrial, Inc.	−7,105	586,985	$21,166,679
ATO	Atmos Energy Corp	−7,024	51,795	$9,567,572
BNY	Bank of New York Mellon Corp	−6,212	379,921	$45,070,028
EWBC	East West Bancorp Inc	−6,087	612,464	$65,386,656
KO	Coca Cola Co	−5,275	323,276	$24,585,139
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
SNA	Snap-on Inc	141,082	$51,243,804
FDX	Fedex Corp	18,017	$6,417,295
SUNC	SunocoCorp LLC	88,613	$5,462,991
APA	APA Corp	117,701	$4,995,230
FER	Ferrovial N.V.	69,721	$4,535,351
BE	Bloom Energy Corp	2,098	$284,258
ARRY	Array Technologies, Inc.	10,598	$76,623
TE	T1 Energy Inc.	16,483	$72,360
BLDP	Ballard Power Systems Inc.	29,025	$70,240
SHLS	Shoals Technologies Group, Inc.	10,570	$69,550
PLUG	Plug Power Inc	26,637	$60,199
NRGV	Energy Vault Holdings, Inc.	15,409	$50,849
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
VICI	Vici Properties Inc.	1,577,879	$44,369,957
HRB	H&R Block Inc	370,841	$16,161,250
SPY	Spdr S&P 500 ETF Trust	5,508	$3,756,015
CCI	Crown Castle Inc.	27,538	$2,447,302
AES	Aes Corp	62,377	$894,486
RDN	Radian Group Inc	11,612	$417,915
TSM	Taiwan Semiconductor Manufacturing Co Ltd	973	$295,684
CPT	Camden Property Trust	1,854	$204,088
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

132 tracked positions · $3,591,726,975 total · filing declares 138 positions · $3,658,218,960 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 132 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MPLX	Mplx LP Energy	Reduced	2,239,694	-76,227	$127,819,336	+3.4%	3.56%
EPD	Enterprise Products Partners L.P. Energy	Added	3,160,206	+48,087	$119,582,195	+19.9%	3.33%
ET	Energy Transfer LP Energy	Reduced	5,216,847	-12,264	$100,685,147	+16.8%	2.80%
JNJ	Johnson & Johnson Healthcare	Reduced	404,296	-107,998	$98,826,114	−6.8%	2.75%
GSK	GSK plc Healthcare	Reduced	1,629,351	-12,763	$89,923,881	+11.7%	2.50%
ABBV	AbbVie Inc. Healthcare	Reduced	397,998	-3,294	$86,560,585	−5.6%	2.41%
EXC	Exelon Corp Utilities	Added	1,685,069	+241,854	$82,602,082	+31.3%	2.30%
TRP	Tc Energy Corp Energy	Added	1,294,518	+158,686	$81,036,826	+29.7%	2.26%
COP	Conocophillips Energy	Added	609,900	+42,352	$80,506,800	+51.5%	2.24%
STT	State Street Corp Financial Services	Reduced	595,610	-4,020	$75,380,401	−2.6%	2.10%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Added	1,440,125	+56,091	$70,177,291	+49.8%	1.95%
ETR	Entergy Corp /De/ Utilities	Added	619,237	+523	$69,577,469	+21.7%	1.94%
ORI	Old Republic International Corp Financial Services	Reduced	1,658,950	-337,275	$66,192,105	−27.3%	1.84%
EWBC	East West Bancorp Inc Financial Services	Reduced	612,464	-6,087	$65,386,656	−5.9%	1.82%
WES	Western Midstream Partners, LP Energy	Added	1,584,975	+93,543	$65,253,420	+10.8%	1.82%
ENB	Enbridge Inc Energy	Added	1,170,678	+71,014	$63,380,506	+20.5%	1.76%
WMB	Williams Companies, Inc. Energy	Reduced	870,105	-80,433	$63,326,241	+10.8%	1.76%
PAA	Plains All American Pipeline LP Energy	Reduced	2,801,601	-52,915	$62,559,750	+22.0%	1.74%
MDT	Medtronic plc Healthcare	Reduced	714,803	-9,090	$61,937,679	−10.9%	1.72%
KMI	Kinder Morgan, Inc. Energy	Added	1,822,905	+57,198	$61,122,004	+25.9%	1.70%
LAMR	Lamar Advertising Co/New Real Estate	Added	468,026	+152,833	$59,280,173	+48.6%	1.65%
HESM	Hess Midstream LP Energy	Added	1,491,899	+45,584	$57,990,114	+16.2%	1.61%
TRGP	Targa Resources Corp. Energy	Added	230,592	+62,652	$57,816,332	+86.6%	1.61%
CME	Cme Group Inc. Financial Services	Added	195,433	+191,793	$57,721,136	+5706.9%	1.61%
VZ	Verizon Communications Inc Communication Services	Added	1,097,506	+297,010	$55,094,801	+69.0%	1.53%
GILD	Gilead Sciences, Inc. Healthcare	Reduced	393,238	-261,540	$54,805,580	−31.8%	1.53%
PSX	Phillips 66 Energy	Added	294,220	+3,410	$53,600,999	+42.8%	1.49%
C	Citigroup Inc Financial Services	Reduced	469,968	-117,219	$53,299,070	−22.2%	1.48%
SUN	Sunoco LP Energy	Added	816,233	+126,964	$53,030,658	+46.8%	1.48%
SNA	Snap-on Inc Industrials	NEW	141,082	NEW	$51,243,804	NEW	1.43%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	1,036,866	-11,158	$50,547,217	−12.3%	1.41%
ELS	Equity Lifestyle Properties Inc Real Estate	Added	799,961	+151,390	$49,933,565	+27.0%	1.39%
LNG	Cheniere Energy, Inc. Energy	Added	164,910	+4,633	$46,794,861	+50.2%	1.30%
HST	Host Hotels & Resorts, Inc. Real Estate	Added	2,417,960	+103,736	$46,328,113	+12.9%	1.29%
NTR	Nutrien Ltd. Basic Materials	Reduced	610,106	-237	$46,038,598	+22.2%	1.28%
EMN	Eastman Chemical Co Basic Materials	Added	600,368	+45,077	$45,820,085	+29.3%	1.28%
GS	Goldman Sachs Group Inc Financial Services	Reduced	53,857	-953	$45,562,483	−5.4%	1.27%
BNY	Bank of New York Mellon Corp Financial Services	Reduced	379,921	-6,212	$45,070,028	+0.5%	1.25%
CSCO	Cisco Systems, Inc. Technology	Reduced	574,087	-660,205	$44,543,410	−53.2%	1.24%
MTB	M&T Bank Corp Financial Services	Added	213,021	+510	$44,035,701	+2.8%	1.23%
OMC	Omnicom Group Inc. Communication Services	Added	581,969	+6,813	$43,828,085	−5.6%	1.22%
CMS	Cms Energy Corp Utilities	Reduced	563,102	-14,312	$43,685,453	+8.2%	1.22%
RF	Regions Financial Corp Financial Services	Added	1,589,537	+5,428	$41,518,706	−3.3%	1.16%
USB	US Bancorp De Financial Services	Added	796,319	+3,355	$41,416,551	−2.1%	1.15%
GAP	Gap Inc Consumer Cyclical	Added	1,704,021	+900,855	$41,237,308	+100.6%	1.15%
PAYX	Paychex Inc Technology	Added	430,548	+51,477	$39,662,081	−6.7%	1.10%
CMCSA	Comcast Corp Communication Services	Added	1,278,695	+369,452	$36,711,333	+35.1%	1.02%
GEL	Genesis Energy LP Energy	Added	1,977,609	+565	$35,260,768	+14.3%	0.98%
PAGP	Plains Gp Holdings LP Energy	Added	1,421,518	+291,397	$34,514,457	+59.6%	0.96%
TXN	Texas Instruments Inc Technology	Reduced	176,346	-1,397	$34,235,812	+11.0%	0.95%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.