MILLER HOWARD INVESTMENTS INC /NY
CIK 903947 · View on SEC EDGAR ↗
- Portfolio value
- $3.8B
- Positions
- 152
- As of
- June 30, 2026
#986 of 9,443 by 13F value · top 10.4%
Portfolio value QoQ: +3.0% 13F does not disclose cash
- Top 10 holdings weight
- 25.22%
- Top 25 holdings weight
- 51.16%
- Positions above 1%
- 47
- Effective number of positions
- 62.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 5.44% Est. buys $232,597,555 · sells $201,901,650
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 80.9% still held
- New positions
- 16
- Increased
- 78
- Decreased
- 57
- Closed
- 2
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +18.3% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 97.1% · Options excluded: 0.0%
Sector breakdown
Energy
37.9%
Financials
11.2%
Utilities
10.6%
Healthcare
10.2%
Real Estate
6.6%
Financial Services
4.7%
Industrials
4.0%
Consumer Staples
2.4%
Materials
2.1%
Telecommunication
1.9%
Communications
1.8%
Technology
1.5%
Consumer Discretionary
1.4%
Communication Services
1.1%
Retail
0.8%
Logistics & Transportation
0.2%
Other/Unmapped
1.7%
Full portfolio 152 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| MPLX MPLX LP Common Units Representing Limited Partner Interests | $131,012,807 | 3.48% | 2,325,809 | $3,193,447 | Up ×1 | ||
| EPD Enterprise Products Partners L.P. Common Stock | $118,069,104 | 3.13% | 3,211,891 | $-1,513,084 | Up ×3 | ||
| JNJ Johnson & Johnson Common Stock | $102,482,953 | 2.72% | 403,524 | $3,656,943 | Down ×3 | ||
| ET Energy Transfer LP Common Units | $101,622,498 | 2.70% | 5,314,984 | $937,354 | Up ×1 | ||
| ABBV AbbVie Inc. Common Stock | $99,814,783 | 2.65% | 396,657 | $13,254,295 | Down ×3 | ||
| STT State Street Corporation Common Stock | $85,359,019 | 2.26% | 503,296 | $9,978,612 | Down ×3 | ||
| TRP TC Energy Corporation Common Stock | $84,206,489 | 2.23% | 1,270,274 | $3,169,688 | Down ×1 | ||
| EWBC East West Bancorp, Inc. - Common Stock | $79,063,799 | 2.10% | 612,470 | $13,677,156 | Up ×1 | ||
| EXC Exelon Corporation - Common Stock | $75,544,427 | 2.00% | 1,620,430 | $-7,057,667 | Down ×1 | ||
| LAMR Lamar Advertising Company - Class A Common Stock | $73,226,803 | 1.94% | 469,463 | $13,946,583 | Up ×2 | ||
| WES Western Midstream Partners, LP Common Units Representing Limited Partner Interests | $72,157,703 | 1.91% | 1,648,942 | $6,904,287 | Up ×5 | ||
| ETR Entergy Corporation Common Stock | $72,101,979 | 1.91% | 627,738 | $2,524,482 | Up ×5 | ||
| WMB Williams Companies, Inc. (The) Common Stock | $67,347,117 | 1.79% | 905,934 | $4,020,895 | Up ×1 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $66,747,622 | 1.77% | 568,258 | $22,204,185 | Down ×3 | ||
| MDT Medtronic plc. Ordinary Shares | $66,612,400 | 1.77% | 851,494 | $4,674,714 | Up ×1 | ||
| PAA Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests | $66,611,359 | 1.77% | 2,992,424 | $4,051,599 | Up ×1 | ||
| C Citigroup, Inc. Common Stock | $65,959,565 | 1.75% | 471,274 | $12,660,516 | Up ×1 | ||
| SUN Sunoco LP Common Units representing limited partner interests | $65,752,357 | 1.74% | 974,109 | $12,721,690 | Up ×2 | ||
| TRGP Targa Resources, Inc. Common Stock | $64,867,493 | 1.72% | 241,917 | $7,051,151 | Up ×4 | ||
| MTB M&T Bank Corporation Common Stock | $63,255,715 | 1.68% | 265,769 | $19,220,082 | Up ×2 | ||
| ENB Enbridge Inc Common Stock | $63,240,293 | 1.68% | 1,166,580 | $-140,215 | Down ×1 | ||
| COP ConocoPhillips Common Stock | $63,183,340 | 1.68% | 607,766 | $-17,323,494 | Down ×1 | ||
| GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares) | $61,963,990 | 1.64% | 1,182,068 | $-27,959,903 | Down ×3 | ||
| BAC Bank of America Corporation Common Stock | $59,171,765 | 1.57% | 1,038,466 | $8,624,532 | Up ×1 | ||
| USB U.S. Bancorp Common Stock | $58,760,324 | 1.56% | 972,853 | $17,343,755 | Up ×2 | ||
| HESM Hess Midstream LP Class A Representing Limited Partner Interests | $58,585,707 | 1.55% | 1,558,131 | $595,573 | Up ×2 | ||
| HST Host Hotels & Resorts, Inc. - Common Stock | $57,345,787 | 1.52% | 2,418,633 | $11,017,669 | Up ×2 | ||
| SNA Snap-On Incorporated Common Stock | $56,689,605 | 1.50% | 140,879 | $5,445,750 | Down ×1 | ||
| VZ Verizon Communications Inc. Common Stock | $56,686,467 | 1.50% | 1,338,840 | $1,591,687 | Up ×2 | ||
| CNQ Canadian Natural Resources Limited Common Stock | $56,635,189 | 1.50% | 1,433,802 | $-13,542,101 | Down ×1 | ||
| KMI Kinder Morgan, Inc. Common Stock | $56,470,567 | 1.50% | 1,766,361 | $-4,651,430 | Down ×1 | ||
| GS Goldman Sachs Group, Inc. (The) Common Stock | $54,125,389 | 1.44% | 53,517 | $8,562,718 | Down ×3 | ||
| MCD McDonald's Corporation Common Stock | $52,939,681 | 1.40% | 195,848 | Up ×1 | |||
| TXN Texas Instruments Incorporated - Common Stock | $52,675,449 | 1.40% | 176,722 | $18,439,699 | Up ×1 | ||
| ELS Equity Lifestyle Properties, Inc. Common Stock | $51,078,425 | 1.36% | 792,528 | $1,144,841 | Down ×1 | ||
| PSX Phillips 66 Common Stock | $49,554,472 | 1.31% | 293,135 | $-4,046,537 | Down ×1 | ||
| GILD Gilead Sciences, Inc. - Common Stock | $49,540,652 | 1.31% | 392,122 | $-5,264,911 | Down ×6 | ||
| PAYX Paychex, Inc. - Common Stock | $49,521,270 | 1.31% | 503,623 | $9,859,231 | Up ×2 | ||
| RF Regions Financial Corporation Common Stock | $48,350,514 | 1.28% | 1,601,010 | $6,831,817 | Up ×2 | ||
| KO Coca-Cola Company (The) Common Stock | $48,203,913 | 1.28% | 593,133 | $23,618,794 | Up ×1 | ||
| ORI Old Republic International Corporation Common Stock | $45,459,423 | 1.21% | 1,110,934 | $-20,732,682 | Down ×3 | ||
| HRL Hormel Foods Corporation Common Stock | $43,712,133 | 1.16% | 1,761,166 | $11,464,886 | Up ×2 | ||
| CMS CMS Energy Corporation Common Stock | $43,693,685 | 1.16% | 571,159 | $8,251 | Up ×1 | ||
| OMC Omnicom Group Inc. Common Stock | $42,259,477 | 1.12% | 580,248 | $-1,568,586 | Down ×1 | ||
| EMN Eastman Chemical Company Common Stock | $40,395,660 | 1.07% | 603,100 | $-5,424,409 | Up ×3 | ||
| LNG Cheniere Energy, Inc. Common Stock | $39,687,606 | 1.05% | 166,050 | $-7,107,392 | Up ×2 | ||
| NTR Nutrien Ltd. Common Shares | $38,282,436 | 1.02% | 608,140 | $-7,756,167 | Down ×4 | ||
| CME CME Group Inc. - Class A Common Stock | $35,194,390 | 0.93% | 159,373 | $-22,526,664 | Down ×1 | ||
| OGE OGE Energy Corp Common Stock | $34,348,926 | 0.91% | 705,897 | $531,022 | Up ×2 | ||
| PAGP Plains GP Holdings, L.P. - Class A Shares representing limited partner interests | $33,861,159 | 0.90% | 1,395,186 | $-653,287 | Down ×1 | ||
| OKE ONEOK, Inc. Common Stock | $32,002,996 | 0.85% | 368,104 | $-385,277 | Up ×4 | ||
| DTM DT Midstream, Inc. Common Stock | $30,833,596 | 0.82% | 210,124 | $-1,300,821 | Down ×1 | ||
| GAP Gap, Inc. (The) Common Stock | $30,337,073 | 0.80% | 1,624,040 | $-10,900,247 | Down ×1 | ||
| AM Antero Midstream Corporation Common Stock | $25,123,666 | 0.67% | 1,104,337 | $-842,663 | Down ×2 | ||
| DVY iShares Select Dividend ETF | $23,480,755 | 0.62% | 150,229 | $-4,406,263 | Down ×2 | ||
| STAG Stag Industrial, Inc. Common Stock | $22,336,736 | 0.59% | 586,882 | $1,170,059 | Down ×3 | ||
| Unknown issuer (CUSIP: 493271951) | $22,335,091 | 0.59% | 556,221 | $-409,317 | Down ×1 | ||
| BRX Brixmor Property Group Inc. Common Stock | $22,299,423 | 0.59% | 707,245 | Up ×1 | |||
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $21,517,026 | 0.57% | 465,233 | $-3,893,808 | Down ×1 | ||
| GEL Genesis Energy, L.P. Common Units | $20,169,421 | 0.54% | 1,423,389 | $-15,091,347 | Down ×1 | ||
| SOBO South Bow Corporation Common Shares | $17,512,025 | 0.46% | 496,936 | $-73,904 | Down ×2 | ||
| SRE DBA Sempra Common Stock | $16,830,544 | 0.45% | 181,540 | $96,733 | Up ×6 | ||
| SUNC SunocoCorp LLC Common Units, representing limited liability company interests | $16,452,172 | 0.44% | 243,124 | $10,989,181 | Up ×1 | ||
| CNP CenterPoint Energy, Inc (Holding Co) Common Stock | $15,927,023 | 0.42% | 361,649 | $1,162,998 | Up ×3 | ||
| NEE NextEra Energy, Inc. Common Stock | $14,670,923 | 0.39% | 167,152 | $-99,764 | Up ×6 | ||
| XEL Xcel Energy Inc. - Common Stock | $12,642,731 | 0.34% | 157,444 | $1,390,930 | Up ×5 | ||
| CSX CSX Corporation - Common Stock | $12,054,513 | 0.32% | 253,619 | $2,251,067 | Up ×6 | ||
| AEE Ameren Corporation Common Stock | $11,880,784 | 0.32% | 105,102 | $922,135 | Up ×6 | ||
| CEG Constellation Energy Corporation - Common Stock When-Issued | $11,561,229 | 0.31% | 46,548 | $-885,175 | Up ×5 | ||
| PPL PPL Corporation Common Stock | $10,955,392 | 0.29% | 301,386 | $158,842 | Up ×1 | ||
| AMT American Tower Corporation (REIT) Common Stock | $10,848,219 | 0.29% | 66,322 | $262,617 | Up ×2 | ||
| WM Waste Management, Inc. Common Stock | $10,705,103 | 0.28% | 48,031 | $268,286 | Up ×6 | ||
| MPC Marathon Petroleum Corporation Common Stock | $10,682,340 | 0.28% | 41,782 | $-817,727 | Down ×1 | ||
| NGG National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares | $10,591,066 | 0.28% | 127,803 | $397,580 | Up ×6 | ||
| EQIX Equinix, Inc. - Common Stock | $9,852,702 | 0.26% | 9,452 | $1,409,022 | Up ×2 | ||
| NI NiSource Inc Common Stock | $9,691,474 | 0.26% | 203,816 | $646,886 | Up ×1 | ||
| ATO Atmos Energy Corporation Common Stock | $9,522,531 | 0.25% | 55,277 | $-44,968 | Up ×1 | ||
| Unknown issuer (CUSIP: 374825958) | $9,137,709 | 0.24% | 451,240 | $-1,039,689 | Down ×1 | ||
| UNP Union Pacific Corporation Common Stock | $8,719,420 | 0.23% | 32,057 | $1,416,386 | Up ×3 | ||
| AWK American Water Works Company, Inc. Common Stock | $8,213,156 | 0.22% | 62,419 | $256,319 | Up ×6 | ||
| TMUS T-Mobile US, Inc. - Common Stock | $7,908,246 | 0.21% | 47,149 | $-1,901,591 | Up ×6 | ||
| FDX FedEx Corporation Common Stock | $7,672,180 | 0.20% | 24,502 | $1,255,056 | Up ×1 | ||
| VLO Valero Energy Corporation Common Stock | $6,745,136 | 0.18% | 25,899 | $193,069 | Down ×1 | ||
| KNTK Kinetik Holdings Inc. Class A Common Stock | $6,706,450 | 0.18% | 138,735 | $-376,756 | Down ×1 | ||
| CQP Cheniere Energy Partners, LP Common Units | $6,539,983 | 0.17% | 107,301 | $-4,865 | Up ×1 | ||
| T AT&T Inc. | $5,928,190 | 0.16% | 286,386 | $-2,317,195 | Up ×5 | ||
| AR Antero Resources Corporation Common Stock | $5,340,261 | 0.14% | 151,971 | $-1,253,812 | Down ×1 | ||
| FER Ferrovial SE - Ordinary Shares | $5,190,758 | 0.14% | 75,656 | $655,407 | Up ×1 | ||
| WCN Waste Connections, Inc. Common Shares | $5,153,591 | 0.14% | 30,917 | $-139,118 | Down ×1 | ||
| AEP American Electric Power Company, Inc. - Common Stock | $5,013,813 | 0.13% | 36,648 | $380,397 | Up ×6 | ||
| SU Suncor Energy Inc. Common Stock | $4,992,133 | 0.13% | 92,998 | $-1,296,779 | Down ×1 | ||
| VST Vistra Corp. Common Stock | $4,584,090 | 0.12% | 28,898 | $389,883 | Up ×5 | ||
| Unknown issuer (CUSIP: 773915103) | $4,497,197 | 0.12% | 217,242 | $-115,431 | Down ×1 | ||
| OXY Occidental Petroleum Corporation Common Stock | $4,215,147 | 0.11% | 86,785 | $-1,558,218 | Down ×1 | ||
| APA APA Corporation - Common Stock | $3,751,445 | 0.10% | 115,181 | $-1,243,785 | Down ×1 | ||
| BK The Bank of New York Mellon Corporation Common Stock | $3,693,707 | 0.10% | 25,543 | $-41,376,264 | Down ×6 | ||
| SO Southern Company (The) Common Stock | $3,669,713 | 0.10% | 38,342 | $100,789 | Up ×6 | ||
| GPOR Gulfport Energy Corporation Common Shares | $3,608,161 | 0.10% | 21,262 | $-1,000,257 | Down ×1 | ||
| HCA HCA Healthcare, Inc. Common Stock | $3,564,086 | 0.09% | 9,141 | ||||
| CHRD Chord Energy Corporation - Common Stock | $3,409,912 | 0.09% | 29,833 | $-925,441 | Down ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| EPD | $118,069,104 | 3.13% | up ×3 |
| WES | $72,157,703 | 1.91% | up ×5 |
| ETR | $72,101,979 | 1.91% | up ×5 |
| TRGP | $64,867,493 | 1.72% | up ×4 |
| EMN | $40,395,660 | 1.07% | up ×3 |
| OKE | $32,002,996 | 0.85% | up ×4 |
| SRE | $16,830,544 | 0.45% | up ×6 |
| CNP | $15,927,023 | 0.42% | up ×3 |
| NEE | $14,670,923 | 0.39% | up ×6 |
| XEL | $12,642,731 | 0.34% | up ×5 |
| CSX | $12,054,513 | 0.32% | up ×6 |
| AEE | $11,880,784 | 0.32% | up ×6 |
| CEG | $11,561,229 | 0.31% | up ×5 |
| WM | $10,705,103 | 0.28% | up ×6 |
| NGG | $10,591,066 | 0.28% | up ×6 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| MCD | $52,939,681 | 195,848 | 1.40% |
| BRX | $22,299,423 | 707,245 | 0.59% |
| HCA | $3,564,086 | 9,141 | 0.09% |
| Unknown issuer (CUSIP: 30233Q108) | $1,155,831 | 8,454 | 0.03% |
| CRC | $1,071,939 | 20,275 | 0.03% |
| GEV | $359,507 | 306 | 0.01% |
| NXT | $323,703 | 2,717 | 0.01% |
| SEDG | $320,076 | 5,477 | 0.01% |
| GNRC | $282,562 | 965 | 0.01% |
| ENPH | $258,904 | 5,258 | 0.01% |
| CWEN | $218,615 | 6,396 | 0.01% |
| CMI | $217,529 | 305 | 0.01% |
| CPT | $204,365 | 1,785 | 0.01% |
| TAC | $146,003 | 10,557 | 0.00% |
| RNW | $102,644 | 16,423 | 0.00% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| GSK | Trimmed | -447K | -$28.0M |
| KO | Bought more | +270K | +$23.6M |
| CME | Trimmed | -36K | -$22.5M |
| CSCO | Trimmed | -6K | +$22.2M |
| ORI | Trimmed | -548K | -$20.7M |
| MTB | Bought more | +53K | +$19.2M |
| TXN | Bought more | +376 | +$18.4M |
| USB | Bought more | +177K | +$17.3M |
| COP | Trimmed | -2K | -$17.3M |
| GEL | Trimmed | -554K | -$15.1M |
2 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| IPG | Dec. 31, 2025 | 1,731,113 | $48,315,370 | No longer tracked |
| VICI | March 31, 2026 | 1,577,879 | $44,369,966 | -3.0% |
| ENLC | March 31, 2025 | 2,320,292 | $32,832,125 | No longer tracked |
| MRK | June 30, 2025 | 364,668 | $32,732,612 | 91.6% |
| EIX | March 31, 2025 | 343,190 | $27,400,292 | 25.3% |
| RHI | June 30, 2025 | 422,936 | $23,071,182 | 7.4% |
| CAG | Sept. 30, 2025 | 930,027 | $19,037,662 | -12.2% |
| HRB | March 31, 2026 | 370,841 | $16,161,253 | 65.3% |
| ENFR | March 31, 2026 | 217,385 | $6,837,842 | No longer tracked |
| HES | Sept. 30, 2025 | 31,663 | $4,386,592 | No longer tracked |
| SPY | March 31, 2026 | 5,508 | $3,756,315 | No longer tracked |
| CCI | March 31, 2025 | 40,995 | $3,720,676 | -27.1% |
| EQT | Dec. 31, 2025 | 59,860 | $3,258,180 | 0.5% |
| HCA | March 31, 2025 | 9,985 | $2,996,959 | 20.3% |
| UPS | June 30, 2026 | 26,624 | $2,619,238 | -3.9% |
| CCI | March 31, 2026 | 27,538 | $2,447,283 | -6.5% |
| SPY | March 31, 2025 | 3,654 | $2,141,813 | No longer tracked |
| AMLP | March 31, 2026 | 44,910 | $2,111,650 | No longer tracked |
| XLE | March 31, 2026 | 40,814 | $1,824,794 | No longer tracked |
| CVE | Dec. 31, 2025 | 98,918 | $1,680,617 | 93.4% |
| EOG | June 30, 2025 | 12,008 | $1,539,861 | 27.7% |
| LYB | March 31, 2025 | 20,074 | $1,490,896 | -2.9% |
| CTRA | June 30, 2026 | 40,917 | $1,437,823 | No longer tracked |
| DINO | Sept. 30, 2025 | 29,198 | $1,199,454 | 80.1% |
| SM | Dec. 31, 2025 | 38,092 | $951,157 | 102.1% |
| AES | March 31, 2026 | 62,377 | $894,486 | 4.8% |
| ASB | March 31, 2025 | 29,810 | $712,459 | 37.7% |
| AESI | June 30, 2025 | 33,689 | $601,012 | -3.1% |
| VXUS | March 31, 2026 | 6,779 | $511,408 | |
| IGF | March 31, 2026 | 8,099 | $496,984 | |
| IGF | March 31, 2025 | 8,626 | $450,873 | |
| RDN | March 31, 2026 | 11,612 | $417,916 | 11.3% |
| SON | Dec. 31, 2025 | 9,297 | $400,608 | 35.3% |
| PFE | Sept. 30, 2025 | 16,194 | $392,543 | 10.1% |
| IWD | June 30, 2025 | 2,082 | $391,694 | No longer tracked |
| NOMD | Dec. 31, 2025 | 28,430 | $373,854 | -6.6% |
| AMLP | June 30, 2025 | 6,315 | $327,987 | No longer tracked |
| XLE | June 30, 2025 | 3,177 | $296,891 | No longer tracked |
| TSM | March 31, 2026 | 973 | $295,685 | 24.3% |
| TGT | Sept. 30, 2025 | 2,838 | $279,969 | 81.1% |
| MAA | Sept. 30, 2025 | 1,838 | $272,099 | -5.5% |
| HDV | March 31, 2026 | 2,086 | $253,638 | No longer tracked |
| CPT | Sept. 30, 2025 | 1,950 | $219,705 | 1.3% |
| CPT | March 31, 2026 | 1,854 | $204,088 | 10.7% |