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MILLER HOWARD INVESTMENTS INC /NY

45 PINE GROVE AVENUE, SUITE 301, KINGSTON, NY 12401 • 8456799166

Q2 2025 · Filed 2025-07-11
Market Value
$3.1B
+0.2%
Holdings
140
-4
New Purchases
4
Added To
84
Closed
7
Reduced
45
Top 10 Concentration
27.6%
Turnover
7.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TRP 1.81% 0.91% +0.91% $56M
EMN 0.84% 0.00% +0.84% $26M
STT 2.07% 1.37% +0.70% $64M
C 1.62% 1.07% +0.56% $50M
WMB 1.83% 1.37% +0.46% $57M
KMI 1.61% 1.19% +0.42% $50M
JPM 2.14% 1.81% +0.33% $67M
HST 1.22% 0.89% +0.33% $38M
CSCO 2.79% 2.48% +0.31% $87M
USB 1.18% 0.88% +0.30% $37M
GS 1.25% 0.96% +0.28% $39M
LNG 1.43% 1.21% +0.22% $44M
EWBC 2.03% 1.80% +0.22% $63M
ENB 1.79% 1.58% +0.21% $56M
GEL 0.83% 0.62% +0.20% $26M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DVY 0.25% 1.52% -1.27% $8M
MRK 0.00% 1.06% -1.06% $0
RHI 0.00% 0.74% -0.74% $0
TRGP 0.90% 1.54% -0.64% $28M
OKE 0.66% 1.16% -0.50% $20M
CAG 0.61% 0.95% -0.33% $19M
EPD 3.35% 3.67% -0.32% $104M
ABBV 2.42% 2.74% -0.31% $75M
MPLX 3.71% 4.00% -0.29% $115M
PAGP 0.73% 0.99% -0.25% $23M
JNJ 2.55% 2.77% -0.22% $79M
HESM 1.58% 1.77% -0.19% $49M
PAA 1.69% 1.84% -0.16% $52M
PAYX 2.55% 2.70% -0.15% $79M
KNTK 0.12% 0.26% -0.15% $4M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Energy 39.9%
Financial Services 17.2%
Utilities 11.1%
Healthcare 10.9%
Real Estate 5.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 17 $641M 20.6%
Large Cap 97 $2.1B 67.1%
Mid Cap 23 $347M 11.2%
Small Cap 3 $34M 1.1%

Portfolio Analytics

Avg Market Cap
$109.4B
Median Market Cap
$40.4B
Avg P/E
24.4
Median P/E
20.2
Avg Dividend Yield
0.03%
Avg Beta
0.66
# Stocks
134
# ETFs / Funds
6

Top Holdings (140 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MPLX 3.71% 2,240,136 $115M $51.51 -$9M -79,549 -3.4%
2 EPD 3.35% 3,358,259 $104M $31.01 -$10M +24,373 +0.7%
3 ET 3.04% 5,214,638 $95M $18.13 $967K +181,029 +3.6%
4 CSCO 2.79% 1,249,066 $87M $69.38 $10M +2,501 +0.2%
5 PAYX 2.55% 544,447 $79M $145.46 -$5M +1,034 +0.2%
6 JNJ 2.55% 518,003 $79M $152.75 -$7M +7
7 ORI 2.50% 2,020,989 $78M $38.44 -$1M +2,778 +0.1%
8 ABBV 2.42% 405,722 $75M $185.62 -$10M +603 +0.1%
9 GILD 2.37% 663,697 $74M $110.87 -$913K -1,160 -0.2%
10 BK 2.31% 786,863 $72M $91.11 $6M -1,281 -0.2%
11 JPM 2.14% 229,902 $67M $289.91 $10M +443 +0.2%
12 VICI 2.12% 2,020,651 $66M $32.60 $123K +5,011 +0.2%
13 STT 2.07% 604,916 $64M $106.34 $22M +130,175 +27.4%
14 MDT 2.06% 732,971 $64M $87.17 -$2M +927 +0.1%
15 GSK 2.05% 1,659,814 $64M $38.40 -$60K +13,023 +0.8%
16 EWBC 2.03% 624,044 $63M $100.98 $7M +317 +0.1%
17 EXC 2.02% 1,443,153 $63M $43.42 -$4M +5,450 +0.4%
18 VZ 1.93% 1,389,297 $60M $43.27 -$3M +8,785 +0.6%
19 WES 1.83% 1,469,279 $57M $38.70 -$2M +42,092 +3.0%
20 WMB 1.83% 905,078 $57M $62.81 $14M +195,965 +27.6%
21 TRP 1.81% 1,153,849 $56M $48.79 $28M +558,498 +93.8%
22 ENB 1.79% 1,225,865 $56M $45.32 $7M +122,658 +11.1%
23 PAA 1.69% 2,864,383 $52M $18.32 -$5M +2,953 +0.1%
24 CMCSA 1.63% 1,419,835 $51M $35.69 -$960K +20,544 +1.5%
25 ETR 1.63% 608,244 $51M $83.12 -$876K +6,612 +1.1%
26 C 1.62% 592,964 $50M $85.12 $17M +127,447 +27.4%
27 BAC 1.61% 1,059,919 $50M $47.32 $6M +1,447 +0.1%
28 KMI 1.61% 1,702,682 $50M $29.40 $13M +411,950 +31.9%
29 HESM 1.58% 1,272,494 $49M $38.51 -$6M -26,800 -2.1%
30 TTE 1.57% 796,417 $49M $61.39 -$3M -1,270 -0.2%
31 CNQ 1.47% 1,451,340 $46M $31.40 $1M +11,968 +0.8%
32 LNG 1.43% 182,632 $44M $243.52 $7M +20,670 +12.8%
33 IPG 1.35% 1,714,292 $42M $24.48 -$3M +42,172 +2.5%
34 CMS 1.27% 571,340 $40M $69.28 -$3M +4,154 +0.7%
35 GS 1.25% 54,814 $39M $707.75 $9M +106 +0.2%
36 LAMR 1.25% 319,350 $39M $121.36 $3M +1,322 +0.4%
37 HST 1.22% 2,464,422 $38M $15.36 $10M +518,016 +26.6%
38 TXN 1.22% 182,191 $38M $207.62 $5M +282 +0.2%
39 SUN 1.19% 691,096 $37M $53.59 -$3M +3,852 +0.6%
40 USB 1.18% 812,165 $37M $45.25 $9M +166,378 +25.8%
41 AM 1.17% 1,925,498 $36M $18.95 $5M +194,282 +11.2%
42 NTR 1.16% 620,588 $36M $58.24 $5M +954 +0.1%
43 PSX 1.09% 283,518 $34M $119.30 -$1M -2,048 -0.7%
44 KO 1.05% 459,793 $33M $70.75 -$523K -1,715 -0.4%
45 OGE 1.01% 707,619 $31M $44.38 -$1M +1,645 +0.2%
46 HRB 0.99% 561,218 $31M $54.89 $376K +7,058 +1.3%
47 JEF 0.92% 521,040 $28M $54.69 $621K +690 +0.1%
48 TRGP 0.90% 160,552 $28M $174.08 -$20M -77,696 -32.6%
49 EMN 0.84% 351,091 $26M $74.66 +351,091 NEW
50 GEL 0.83% 1,488,590 $26M $17.23 $6M +256,186 +20.8%
51 PAGP 0.73% 1,174,081 $23M $19.43 -$8M -258,737 -18.1%
52 STAG 0.70% 602,743 $22M $36.28 $77K -536 -0.1%
53 OKE 0.66% 251,128 $20M $81.63 -$15M -111,547 -30.8%
54 PBA 0.61% 508,891 $19M $37.51 $2M +69,937 +15.9%
55 CAG 0.61% 930,027 $19M $20.47 -$10M -170,046 -15.5%
56 DTM 0.60% 168,482 $19M $109.91 $1M -10,790 -6.0%
57 CEG 0.40% 38,174 $12M $322.76 $5M +1,691 +4.6%
58 AMT 0.38% 53,887 $12M $221.02 $574K +1,792 +3.4%
59 CNP 0.36% 301,154 $11M $36.74 $446K +8,069 +2.8%
60 PPL 0.35% 319,377 $11M $33.89 -$390K +8,825 +2.8%
61 NI 0.33% 255,820 $10M $40.34 $424K +8,976 +3.6%
62 TMUS 0.31% 40,241 $10M $238.26 -$1M +454 +1.1%
63 WM 0.29% 38,937 $9M $228.82 $110K +930 +2.5%
64 SRE 0.28% 116,365 $9M $75.77 $1M +7,096 +6.5%
65 NEE 0.28% 124,634 $9M $69.42 $134K +4,481 +3.7%
66 ATO 0.27% 53,505 $8M $154.11 $253K +1,800 +3.5%
67 AEE 0.26% 84,805 $8M $96.04 $197K +5,646 +7.1%
68 DVY 0.25% 59,492 $8M $132.81 -$39M -291,779 -83.1%
69 ENFR 0.25% 238,327 $8M $32.24 -$2M -71,684 -23.1%
70 PEG 0.25% 90,477 $8M $84.18 $374K +2,472 +2.8%
71 MPC 0.24% 44,676 $7M $166.11 $3M +17,155 +62.3%
72 T 0.23% 246,920 $7M $28.94 $332K +5,977 +2.5%
73 NGG 0.22% 89,925 $7M $74.41 $955K +2,489 +2.9%
74 CSX 0.21% 204,640 $7M $32.63 $1M +15,939 +8.4%
75 UNP 0.19% 25,781 $6M $230.08 -$101K +245 +1.0%
76 CQP 0.19% 104,438 $6M $56.05 -$1M +281 +0.3%
77 XEL 0.19% 85,542 $6M $68.10 $4M +54,381 +174.5%
78 AWK 0.17% 38,989 $5M $139.11 -$117K +1,430 +3.8%
79 WCN 0.17% 28,569 $5M $186.72 $681K +4,731 +19.9%
80 COP 0.16% 56,243 $5M $89.74 -$1M -4,051 -6.7%
81 AR 0.16% 125,133 $5M $40.28 -$440K -10,380 -7.7%
82 GPOR 0.16% 24,380 $5M $201.17 $2M +11,157 +84.4%
83 VST 0.14% 23,044 $4M $193.81 $2M +1,248 +5.7%
84 HES 0.14% 31,663 $4M $138.54 -$1M -2,624 -7.7%
85 SU 0.13% 106,787 $4M $37.45 -$481K -8,913 -7.7%
86 EQT 0.12% 66,577 $4M $58.32 $30K -5,535 -7.7%
87 EQIX 0.12% 4,788 $4M $795.46 $658K +924 +23.9%
88 KNTK 0.12% 81,368 $4M $44.05 -$5M -75,195 -48.0%
89 XOM 0.11% 31,971 $3M $107.80 -$676K -2,693 -7.8%
90 OXY 0.11% 78,104 $3M $42.01 -$868K -5,961 -7.1%
91 RRC 0.11% 80,603 $3M $40.67 -$212K -6,811 -7.8%
92 SO 0.09% 30,335 $3M $91.83 $144K +1,604 +5.6%
93 AEP 0.08% 23,439 $2M $103.76 $8K +1,255 +5.7%
94 UPS 0.07% 22,531 $2M $100.94 -$86K +1,075 +5.0%
95 DUK 0.07% 17,586 $2M $118.00 $44K +937 +5.6%
96 D 0.07% 36,018 $2M $56.52 $145K +2,301 +6.8%
97 DTE 0.06% 13,604 $2M $132.46 $22K +733 +5.7%
98 WTTR 0.06% 206,333 $2M $8.64 -$549K -15,749 -7.1%
99 BKR 0.05% 43,841 $2M $38.34 -$407K -3,660 -7.7%
100 WEC 0.05% 15,339 $2M $104.20 $16K +823 +5.7%

New Positions

SymbolValue% Port
EMN $26M 0.84%
NOMD $448K 0.01%
NTAP $228K 0.01%
TSM $220K 0.01%

Sold Out Positions

SymbolValue% Port
EOG —%
AESI —%
RHI —%
MRK —%
AMLP —%
IWD —%
XLE —%
View SEC EDGAR Filings for MILLER HOWARD INVESTMENTS INC /NY →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms