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Portfolio (Quarterly) Guide ↗

MILLER HOWARD INVESTMENTS INC /NY

· CIK 0000903947
13F Portfolio $3.3B AUM 140 positions Filed Jan 27, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 140 New
Page 2 of 7  ·  140 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 COP CONOCOPHILLIPS COM Energy 567,548.0 $53.1M 1.60% NEW $93.61 +27.1%
22 ENB ENBRIDGE INC COM Energy 1,099,664.0 $52.6M 1.59% NEW $47.83 +17.5%
23 PAA PLAINS ALL AMERN PIPELINE L P Energy 2,854,516.0 $51.3M 1.55% NEW $17.96 +25.2%
24 HESM HESS MIDSTREAM LP CL A SHS Energy 1,446,315.0 $49.9M 1.51% NEW $34.50 +13.7%
25 KMI KINDER MORGAN INC DEL COM Energy 1,765,707.0 $48.5M 1.47% NEW $27.49 +21.5%
26 GS GOLDMAN SACHS GROUP INC COM Financial Services 54,810.0 $48.2M 1.45% NEW $879.00 +10.2%
27 CNQ CANADIAN NAT RES LTD COM Energy 1,384,034.0 $46.8M 1.41% NEW $33.85 +40.5%
28 OMC OMNICOM GROUP INC COM Communication Services 575,156.0 $46.4M 1.40% NEW $80.75 -11.4%
29 BK BANK NEW YORK MELLON CORP COM Financial Services 386,133.0 $44.8M 1.35% NEW $116.09 +16.3%
30 VICI VICI PPTYS INC COM Real Estate 1,577,879.0 $44.4M 1.34% NEW $28.12 -0.9%
31 RF REGIONS FINANCIAL CORP NEW COM Financial Services 1,584,109.0 $42.9M 1.30% NEW $27.10 -1.1%
32 MTB M & T BK CORP COM Financial Services 212,511.0 $42.8M 1.29% NEW $201.48 +2.1%
33 PAYX PAYCHEX INC COM Industrials 379,071.0 $42.5M 1.28% NEW $112.18 -20.8%
34 USB US BANCORP DEL COM NEW Financial Services 792,964.0 $42.3M 1.28% NEW $53.36 +0.1%
35 HST HOST HOTELS & RESORTS INC COM Real Estate 2,314,224.0 $41.0M 1.24% NEW $17.73 +21.5%
36 CMS CMS ENERGY CORP COM Utilities 577,414.0 $40.4M 1.22% NEW $69.93 +4.8%
37 LAMR LAMAR ADVERTISING CO NEW CL A Real Estate 315,193.0 $39.9M 1.20% NEW $126.58 +16.5%
38 ELS EQUITY LIFESTYLE PROPERTIES IN Real Estate 648,571.0 $39.3M 1.19% NEW $60.61 +2.2%
39 NTR NUTRIEN LTD COM Basic Materials 610,343.0 $37.7M 1.14% NEW $61.72 +14.9%
40 PSX PHILLIPS 66 COM Energy 290,810.0 $37.5M 1.13% NEW $129.04 +32.9%
Page 2 of 7  ·  140 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Energy 36.3%
Financial Services 19.1%
Healthcare 13.8%
Utilities 9.1%
Real Estate 6.5%
Technology 4.1%
Communication Services 3.9%
Industrials 2.4%
Basic Materials 2.3%
Consumer Defensive 1.3%