MILLER HOWARD INVESTMENTS INC /NY

CIK

903947

Location

KINGSTON, NY

Portfolio Value

Micro $56,832,397

Diversification

Diversified

Filing Date

Global Rank

#830 / 8,586 ▲ 74

Top Industry

Oil & Gas Midstream 31.5%

3Y Alpha vs SPY

-2.2%

Period ended 3 months ago

Filed Apr 20, 2026 · 57d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+68.0%

SPY

+78.1%

Annualised alpha

-2.3%

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, 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	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
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

2 positions · $56,832,397 total · Consumer Defensive only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio	History
HRL	Hormel Foods Corp /De/ Consumer Defensive	Added	1,423,720	+714,080	$32,247,258	+91.7%	56.74%
KO	Coca Cola Co Consumer Defensive	Reduced	323,276	-5,275	$24,585,139	+7.0%	43.26%