MILLER HOWARD INVESTMENTS INC /NY
Filing Date
Global Rank
#661
/ 8,232
▲ 117
Top Industry
Oil & Gas Midstream
31.5%
3Y Alpha vs SPY
-1.1%
Period ended 2 months ago
Filed Apr 20, 2026 · 55d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+71.5%
SPY
+76.3%
Annualised alpha
-1.1%
Max drawdown
−14.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
132 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top 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 |
|---|---|---|
| Energy | 40.6% | $1,457,447,660 |
| Financial Services | 16.4% | $588,328,949 |
| Utilities | 11.0% | $395,771,635 |
| Healthcare | 10.9% | $392,883,442 |
| Real Estate | 5.4% | $195,737,856 |
| Communication Services | 4.3% | $153,689,483 |
| Technology | 3.3% | $119,800,631 |
| Industrials | 2.7% | $98,138,931 |
| Basic Materials | 2.6% | $91,858,683 |
| Consumer Defensive | 1.6% | $56,832,397 |
| Consumer Cyclical | 1.1% | $41,237,308 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| 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 | Open |
|---|---|---|---|---|---|
| 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 | Exxon Mobil 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 | Open |
|---|---|---|---|---|
| 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 | Open |
|---|---|---|---|---|
| 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. | ||||
132 positions ·
$3,591,726,975 total
· 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 | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NRGV |
Energy Vault Holdings, Inc.
Utilities
|
NEW | 15,409 | $50,849 | 0.00% | |
| PLUG |
Plug Power Inc
Industrials
|
NEW | 26,637 | $60,199 | 0.00% | |
| SHLS |
Shoals Technologies Group, Inc.
Technology
|
NEW | 10,570 | $69,550 | 0.00% | |
| BLDP |
Ballard Power Systems Inc.
Industrials
|
NEW | 29,025 | $70,240 | 0.00% | |
| TE |
T1 Energy Inc.
Industrials
|
NEW | 16,483 | $72,360 | 0.00% | |
| ARRY |
Array Technologies, Inc.
Technology
|
NEW | 10,598 | $76,623 | 0.00% | |
| NTAP |
NetApp, Inc.
Technology
|
Held | 2,142 | $219,319 | 0.01% | |
| BE |
Bloom Energy Corp
Industrials
|
NEW | 2,098 | $284,258 | 0.01% | |
| RY |
Royal Bank Of Canada
Financial Services
|
Reduced | 2,734 | $442,306 | 0.01% | |
| TTE |
TotalEnergies SE
Energy
|
Reduced | 5,215 | $474,460 | 0.01% | |
| JEF |
Jefferies Financial Group Inc.
Financial Services
|
Reduced | 11,843 | $488,760 | 0.01% | |
| CAH |
Cardinal Health Inc
Healthcare
|
Reduced | 3,926 | $829,603 | 0.02% | |
| ES |
Eversource Energy
Utilities
|
Added | 14,274 | $988,902 | 0.03% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 3,211 | $993,836 | 0.03% | |
| BKH |
Black Hills Corp /Sd/
Utilities
|
Added | 16,516 | $1,146,375 | 0.03% | |
| NRG |
Nrg Energy, Inc.
Utilities
|
Added | 8,359 | $1,221,584 | 0.03% | |
| RRC |
Range Resources Corp
Energy
|
Added | 27,132 | $1,225,823 | 0.03% | |
| OGS |
ONE Gas, Inc.
Utilities
|
Added | 14,379 | $1,238,463 | 0.03% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 4,310 | $1,267,829 | 0.04% | |
| FTS |
Fortis Inc.
Utilities
|
Added | 24,613 | $1,373,159 | 0.04% | |
| CTRA |
Coterra Energy Inc.
Energy
|
Added | 40,917 | $1,437,823 | 0.04% | |
| MDU |
Mdu Resources Group Inc
Utilities
|
Added | 72,373 | $1,499,568 | 0.04% | |
| PCG |
PG&E Corp
Utilities
|
Added | 91,296 | $1,604,070 | 0.04% | |
| HAL |
Halliburton Co
Energy
|
Added | 42,426 | $1,654,189 | 0.05% | |
| XOM |
Exxon Mobil Corp
Energy
|
Reduced | 10,935 | $1,855,232 | 0.05% | |
| EVRG |
Evergy, Inc.
Utilities
|
Added | 22,770 | $1,865,318 | 0.05% | |
| LBRT |
Liberty Energy Inc.
Energy
|
Reduced | 73,902 | $2,128,377 | 0.06% | |
| LNT |
Alliant Energy Corp
Utilities
|
Added | 30,089 | $2,159,186 | 0.06% | |
| WEC |
Wec Energy Group, Inc.
Utilities
|
Added | 18,679 | $2,162,467 | 0.06% | |
| D |
Dominion Energy, Inc
Utilities
|
Reduced | 36,815 | $2,275,903 | 0.06% | |
| CVX |
Chevron Corp
Energy
|
Added | 11,009 | $2,277,762 | 0.06% | |
| OVV |
Ovintiv Inc.
Energy
|
Added | 39,227 | $2,328,514 | 0.06% | |
| PEG |
Public Service Enterprise Group Inc
Utilities
|
Added | 29,454 | $2,384,301 | 0.07% | |
| BKR |
Baker Hughes Co
Energy
|
Added | 39,056 | $2,384,368 | 0.07% | |
| DTE |
Dte Energy Co
Utilities
|
Added | 16,616 | $2,429,591 | 0.07% | |
| UPS |
United Parcel Service Inc
Industrials
|
Added | 26,624 | $2,619,269 | 0.07% | |
| DUK |
Duke Energy CORP
Utilities
|
Added | 21,445 | $2,808,008 | 0.08% | |
| SO |
Southern Co
Utilities
|
Added | 36,976 | $3,568,923 | 0.10% | |
| WTTR |
Select Water Solutions, Inc.
Energy
|
Added | 261,376 | $3,999,052 | 0.11% | |
| VST |
Vistra Corp.
Utilities
|
Added | 27,900 | $4,194,207 | 0.12% | |
| CHRD |
Chord Energy Corp
Energy
|
Added | 30,492 | $4,335,352 | 0.12% | |
| FER |
Ferrovial N.V.
Industrials
|
NEW | 69,721 | $4,535,351 | 0.13% | |
| GPOR |
Gulfport Energy Corp
Energy
|
Added | 21,782 | $4,608,417 | 0.13% | |
| AEP |
American Electric Power Co Inc
Utilities
|
Added | 35,348 | $4,633,415 | 0.13% | |
| APA |
APA Corp
Energy
|
NEW | 117,701 | $4,995,230 | 0.14% | |
| WCN |
Waste Connections, Inc.
Industrials
|
Added | 32,583 | $5,292,782 | 0.15% | |
| SUNC |
SunocoCorp LLC
Energy
|
NEW | 88,613 | $5,462,991 | 0.15% | |
| OXY |
Occidental Petroleum Corp /De/
Energy
|
Added | 88,821 | $5,773,365 | 0.16% | |
| SU |
Suncor Energy Inc
Energy
|
Added | 95,128 | $6,288,912 | 0.18% | |
| FDX |
Fedex Corp
Industrials
|
NEW | 18,017 | $6,417,295 | 0.18% |