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 3 months ago
Filed Apr 20, 2026 · 56d
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
+69.5%
SPY
+74.2%
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. | ||||
33 positions ·
$395,771,635 total
· Utilities 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 | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| EXC |
Exelon Corp
Utilities
|
Added | 1,685,069 | $82,602,082 | 20.87% | |
| ETR |
Entergy Corp /De/
Utilities
|
Added | 619,237 | $69,577,469 | 17.58% | |
| CMS |
Cms Energy Corp
Utilities
|
Reduced | 563,102 | $43,685,453 | 11.04% | |
| OGE |
Oge Energy Corp.
Utilities
|
Added | 705,127 | $33,817,890 | 8.54% | |
| SRE |
Sempra
Utilities
|
Added | 172,212 | $16,733,840 | 4.23% | |
| NEE |
Nextera Energy Inc
Utilities
|
Added | 159,030 | $14,770,706 | 3.73% | |
| CNP |
Centerpoint Energy Inc
Utilities
|
Added | 342,077 | $14,764,043 | 3.73% | |
| CEG |
Constellation Energy Corp
Utilities
|
Added | 44,571 | $12,446,451 | 3.14% | |
| XEL |
Xcel Energy Inc
Utilities
|
Added | 141,639 | $11,251,802 | 2.84% | |
| AEE |
Ameren Corp
Utilities
|
Added | 99,697 | $10,958,694 | 2.77% | |
| PPL |
PPL Corp
Utilities
|
Reduced | 282,632 | $10,796,542 | 2.73% | |
| NGG |
National Grid PLC
Utilities
|
Added | 120,490 | $10,193,454 | 2.58% | |
| ATO |
Atmos Energy Corp
Utilities
|
Reduced | 51,795 | $9,567,572 | 2.42% | |
| NI |
Nisource Inc.
Utilities
|
Reduced | 193,840 | $9,044,574 | 2.29% | |
| AWK |
American Water Works Company, Inc.
Utilities
|
Added | 58,467 | $7,956,774 | 2.01% | |
| AEP |
American Electric Power Co Inc
Utilities
|
Added | 35,348 | $4,633,415 | 1.17% | |
| VST |
Vistra Corp.
Utilities
|
Added | 27,900 | $4,194,207 | 1.06% | |
| SO |
Southern Co
Utilities
|
Added | 36,976 | $3,568,923 | 0.90% | |
| DUK |
Duke Energy CORP
Utilities
|
Added | 21,445 | $2,808,008 | 0.71% | |
| DTE |
Dte Energy Co
Utilities
|
Added | 16,616 | $2,429,591 | 0.61% | |
| PEG |
Public Service Enterprise Group Inc
Utilities
|
Added | 29,454 | $2,384,301 | 0.60% | |
| D |
Dominion Energy, Inc
Utilities
|
Reduced | 36,815 | $2,275,903 | 0.58% | |
| WEC |
Wec Energy Group, Inc.
Utilities
|
Added | 18,679 | $2,162,467 | 0.55% | |
| LNT |
Alliant Energy Corp
Utilities
|
Added | 30,089 | $2,159,186 | 0.55% | |
| EVRG |
Evergy, Inc.
Utilities
|
Added | 22,770 | $1,865,318 | 0.47% | |
| PCG |
PG&E Corp
Utilities
|
Added | 91,296 | $1,604,070 | 0.41% | |
| MDU |
Mdu Resources Group Inc
Utilities
|
Added | 72,373 | $1,499,568 | 0.38% | |
| FTS |
Fortis Inc.
Utilities
|
Added | 24,613 | $1,373,159 | 0.35% | |
| OGS |
ONE Gas, Inc.
Utilities
|
Added | 14,379 | $1,238,463 | 0.31% | |
| NRG |
Nrg Energy, Inc.
Utilities
|
Added | 8,359 | $1,221,584 | 0.31% | |
| BKH |
Black Hills Corp /Sd/
Utilities
|
Added | 16,516 | $1,146,375 | 0.29% | |
| ES |
Eversource Energy
Utilities
|
Added | 14,274 | $988,902 | 0.25% | |
| NRGV |
Energy Vault Holdings, Inc.
Utilities
|
NEW | 15,409 | $50,849 | 0.01% |