Miller Howard Investments Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 28, 2025), Miller Howard Investments Inc. reported 136 stock positions worth $3.0 billion. Its top holding was MPLX (MPLX) at 3.7% of the portfolio, followed by Energy Transfer (ET, 3.6%) and Jefferies Financial (JEF, 3.4%). Compared with Q3 2024, it opened 7 new positions, sold out of 67, added to 50 and reduced 78. The biggest buy was iShares Select Dividend ETF (DVY, shares +370%) and the biggest sale Lyondellbasell Indu Class A (LYB, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- KINGSTON, NY
- CIK
- 0000903947
- Portfolio Value
- $3.0B (Q4 2024)
- SEC Filing
- 0000903947-25-000001 ↗ filed Jan 28, 2025
Holdings Value
Holdings 136 stocks · $3.0B
| MPLX MPLX LP | 3.71% | 2,358,872 | $112.9M | Reduce -9.5% |
| ET Energy Transfer LP | 3.60% | 5,583,871 | $109.4M | Reduce -9.9% |
| JEF Jefferies Financial Group Inc. | 3.40% | 1,318,191 | $103.3M | Reduce -1.4% |
| EPD Enterprise Products Partners | 3.31% | 3,209,370 | $100.6M | Add +5.0% |
| GS Goldman Sachs Group Inc. | 3.03% | 160,805 | $92.1M | Reduce -1.3% |
| GILD Gilead Sciences Inc. | 2.86% | 942,729 | $87.1M | Reduce -10.9% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.67% | 1,055,344 | $81.1M | Reduce -1.3% |
| PAYX Paychex Inc. | 2.54% | 551,732 | $77.4M | Reduce -1.4% |
| CSCO Cisco Systems Inc. | 2.46% | 1,263,513 | $74.8M | Reduce -9.2% |
| ORI Old Republic Intl Corp. | 2.44% | 2,049,247 | $74.2M | Reduce -11.5% |
| ABBV Abbvie Inc. | 2.39% | 409,153 | $72.7M | Reduce -1.5% |
| JPM JPMorgan Chase & Co. | 2.28% | 289,669 | $69.4M | Reduce -10.4% |
| KO The Coca-Cola Co. | 2.27% | 1,110,136 | $69.1M | Reduce -7.9% |
| DVY iShares Select Dividend ETF | 2.15% | 498,927 | $65.5M | Add +369.5% |
| TRGP Targa Resources Corp. | 2.05% | 349,325 | $62.4M | Add +3.8% |
| JNJ Johnson & Johnson | 1.99% | 418,956 | $60.6M | Reduce -21.3% |
| EWBC East West Bancorp Inc. | 1.99% | 632,661 | $60.6M | Reduce -1.2% |
| WES Western Midstream Partners L | 1.98% | 1,567,197 | $60.2M | Reduce -8.2% |
| RY Royal Bank of Canada | 1.94% | 489,310 | $59.0M | Reduce -1.3% |
| MDT Medtronic PLC | 1.93% | 735,219 | $58.7M | Reduce -2.3% |
| CMCSA Comcast Corp. Class A | 1.80% | 1,455,748 | $54.6M | Reduce -2.0% |
| EXC Exelon Corp. | 1.69% | 1,362,410 | $51.3M | Reduce -5.1% |
| IPG Interpublic Group of Cos Inc. | 1.57% | 1,700,854 | $47.7M | Reduce -4.1% |
| ETR Entergy Corp. | 1.56% | 624,081 | $47.3M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.55% | 1,073,226 | $47.2M | Reduce -1.3% |
| PAA Plains All Amer Pipeline LP | 1.47% | 2,610,872 | $44.6M | Add +1.5% |
| TTE Totalenergies SE -Spon ADR | 1.39% | 776,976 | $42.3M | Reduce -4.9% |
| LNG Cheniere Energy Inc. | 1.31% | 185,544 | $39.9M | Reduce -4.1% |
| HST Host Hotels & Resorts Inc. | 1.30% | 2,257,540 | $39.6M | Reduce -7.4% |
| LAMR Lamar Advertising Co. Class A | 1.29% | 322,424 | $39.3M | Reduce -1.4% |
| RHI Robert Half Inc. | 1.26% | 543,732 | $38.3M | Reduce -0.5% |
| ENB Enbridge Inc. | 1.24% | 888,847 | $37.7M | Add +5.3% |
| CMS CMS Energy Corp. | 1.24% | 563,806 | $37.6M | Reduce -13.9% |
| KMI Kinder Morgan Inc. | 1.23% | 1,363,733 | $37.4M | Add +14.9% |
| USB US Bancorp | 1.22% | 776,444 | $37.1M | New |
| WMB Williams Cos Inc. | 1.22% | 684,097 | $37.0M | Reduce -3.8% |
| MRK Merck & Co. Inc. | 1.21% | 368,617 | $36.7M | Reduce -12.8% |
| OKE Oneok Inc. | 1.18% | 358,646 | $36.0M | Reduce -12.4% |
| TXN Texas Instruments Inc. | 1.14% | 184,765 | $34.6M | Reduce -19.1% |
| CNQ Canadian Natural Resources | 1.12% | 1,101,415 | $34.0M | Reduce -33.4% |
| ENLC Enlink Midstream LLC | 1.08% | 2,320,292 | $32.8M | Add +1.4% |
| PSX Phillips 66 | 1.07% | 285,212 | $32.5M | Reduce -2.2% |
| HESM Hess Midstream LP Class A | 1.03% | 846,720 | $31.4M | Reduce -21.8% |
| SUN Sunoco LP | 1.01% | 595,057 | $30.6M | Add +0.9% |
| OGE Oge Energy Corp. | 0.97% | 712,213 | $29.4M | Reduce -18.0% |
| PAGP Plains GP Holdings LP | 0.93% | 1,535,470 | $28.2M | Add +2.3% |
| TRP TC Energy Corp. | 0.91% | 596,480 | $27.8M | Reduce -19.3% |
| EIX Edison International | 0.90% | 343,190 | $27.4M | Add +565.5% |
| AM Antero Midstream Corp. | 0.85% | 1,718,027 | $25.9M | Reduce -20.3% |
| CAG Conagra Brands Inc. | 0.79% | 867,149 | $24.1M | Reduce -39.5% |
| GSK GSK PLC-Spon ADR | 0.77% | 690,900 | $23.4M | New |
| DTM DT Midstream Inc. | 0.74% | 227,187 | $22.6M | Add +17.7% |
| PBA Pembina Pipeline Corp. | 0.67% | 552,076 | $20.4M | Add +25.5% |
| NTR Nutrien Ltd. | 0.67% | 455,429 | $20.4M | Reduce -11.9% |
| STAG Stag Industrial Inc. | 0.67% | 599,441 | $20.3M | Reduce -4.5% |
| KNTK Kinetik Holdings Inc. | 0.50% | 269,970 | $15.3M | Add +5.3% |
| KEYERA CORP COM | 0.44% | 442,568 | $13.5M | Reduce -7.0% |
| NI Nisource Inc. | 0.36% | 294,778 | $10.8M | Add +3.4% |
| SOBO South Bow Corp. | 0.34% | 435,282 | $10.3M | Add +194.5% |
| PPL PPL Corp. | 0.31% | 291,748 | $9.5M | Add +3.4% |
| SRE Sempra | 0.31% | 107,322 | $9.4M | Add +3.4% |
| CEG Constellation Energy | 0.29% | 39,516 | $8.8M | Add +2.4% |
| CNP Centerpoint Energy Inc. | 0.29% | 275,984 | $8.8M | Add +5.4% |
| TMUS T-Mobile US Inc. | 0.27% | 37,285 | $8.2M | Add +3.6% |
| NEE Nextera Energy Inc. | 0.26% | 111,201 | $8.0M | Add +2.3% |
| PEG Public Service Enterprise GP | 0.23% | 82,641 | $7.0M | Add +2.9% |
| AEE Ameren Corporation | 0.21% | 71,756 | $6.4M | Add +3.7% |
| AMT American Tower Corp. | 0.20% | 33,712 | $6.2M | Reduce -8.7% |
| CSX CSX Corp. | 0.20% | 187,139 | $6.0M | Add +1.8% |
| GIBSON ENERGY INC COM | 0.19% | 345,681 | $5.9M | Add +5.6% |
| WM Waste Management Inc. | 0.19% | 28,852 | $5.8M | Add +4.2% |
| UNP Union Pacific Corp. | 0.18% | 24,085 | $5.5M | Add +2.7% |
| CQP Cheniere Energy Partners LP | 0.18% | 102,122 | $5.4M | Add +1.6% |
| NGG National Grid PLC-SP ADR | 0.17% | 86,052 | $5.1M | Reduce -4.0% |
| ATO Atmos Energy Corp. | 0.16% | 35,428 | $4.9M | Add +3.4% |
| AR Antero Resources Corp. | 0.16% | 140,232 | $4.9M | Reduce -4.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.16% | 64,760 | $4.9M | Add +253.2% |
| HES Hess Corp. | 0.15% | 33,326 | $4.4M | Reduce -55.5% |
| SU Suncor Energy Inc. | 0.14% | 119,614 | $4.3M | Reduce -4.9% |
| OXY Occidental Petroleum Corp. | 0.13% | 78,732 | $3.9M | Reduce -8.7% |
| XOM Exxon Mobil Corp. | 0.13% | 35,816 | $3.9M | Reduce -4.8% |
| CCI Crown Castle Inc. | 0.12% | 40,995 | $3.7M | Reduce -11.2% |
| MPC Marathon Petroleum Corp. | 0.11% | 24,881 | $3.5M | Reduce -25.7% |
| EQT Eqt Corp. | 0.11% | 73,998 | $3.4M | Reduce -5.7% |
| AWK American Water Works Co. Inc. | 0.11% | 26,075 | $3.2M | Reduce -1.0% |
| RRC Range Resources Corp. | 0.11% | 89,003 | $3.2M | Reduce -3.0% |
| VST Vistra Corp. | 0.10% | 22,661 | $3.1M | Reduce -8.8% |
| WTTR Select Water Solutions Inc. | 0.10% | 233,794 | $3.1M | Add +1.3% |
| EQIX Equinix Inc. | 0.10% | 3,218 | $3.0M | New |
| COP Conocophillips | 0.10% | 30,423 | $3.0M | Reduce -7.3% |
| HCA HCA Healthcare Inc. | 0.10% | 9,985 | $3.0M | Reduce -42.0% |
| LBRT Liberty Energy Inc. | 0.09% | 133,169 | $2.6M | Add +315.8% |
| XLE SS Energy Select Sector | 0.08% | 29,883 | $2.6M | Add +60.3% |
| UPS United Parcel Service Class B | 0.08% | 20,191 | $2.5M | Add +6.5% |
| SO The Southern Co. | 0.07% | 26,409 | $2.2M | Add +1.2% |
| AES AES Corp. | 0.07% | 168,456 | $2.2M | Reduce -10.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 3,654 | $2.1M | Add +701.3% |
| BKR Baker Hughes Co. | 0.07% | 49,210 | $2.0M | Reduce -4.8% |
| AEP American Electric Power | 0.06% | 20,400 | $1.9M | Add +1.3% |
| D Dominion Energy Inc. | 0.05% | 30,623 | $1.6M | Add +0.0% |
Portfolio Sells Q3 2024 → Q4 2024
| LYB Lyondellbasell Indu Class A | Reduce -96.6% | 0.05% | −1.69 |
| MAA Mid-America Apartment Comm | Reduce -98.3% | 0.02% | −0.95 |
| CPT Camden Property Trust | Reduce -96.5% | 0.03% | −0.69 |
| JNJ Johnson & Johnson | Reduce -21.3% | 1.99% | −0.67 |
| MSM MSC Industrial Direct Co. Class A | Sold out | 0.00% | −0.66 |
| CAG Conagra Brands Inc. | Reduce -39.5% | 0.79% | −0.65 |
| CNQ Canadian Natural Resources | Reduce -33.4% | 1.12% | −0.57 |
| KO The Coca-Cola Co. | Reduce -7.9% | 2.27% | −0.40 |
| TXN Texas Instruments Inc. | Reduce -19.1% | 1.14% | −0.32 |
| MRK Merck & Co. Inc. | Reduce -12.8% | 1.21% | −0.27 |
| TTE Totalenergies SE -Spon ADR | Reduce -4.9% | 1.39% | −0.24 |
| POR Portland General Electric Co. | Sold out | 0.00% | −0.22 |
| AB Alliancebernstein Holding LP | Sold out | 0.00% | −0.22 |
| OMC Omnicom Group | Reduce -92.6% | 0.01% | −0.21 |
| EPR Epr Properties | Sold out | 0.00% | −0.21 |
| O Realty Income Corp. | Sold out | 0.00% | −0.19 |
| CMS CMS Energy Corp. | Reduce -13.9% | 1.24% | −0.19 |
| SBRA Sabra Health Care REIT Inc. | Sold out | 0.00% | −0.17 |
| TRP TC Energy Corp. | Reduce -19.3% | 0.91% | −0.17 |
| HES Hess Corp. | Reduce -55.5% | 0.15% | −0.17 |
| RHP Ryman Hospitality Properties | Sold out | 0.00% | −0.17 |
| VALE Vale SA-SP ADR | Sold out | 0.00% | −0.16 |
| IPG Interpublic Group of Cos Inc. | Reduce -4.1% | 1.57% | −0.16 |
| MDT Medtronic PLC | Reduce -2.3% | 1.93% | −0.16 |
| MAIN Main Street Capital Corp. | Sold out | 0.00% | −0.15 |
| BTI British American Tob-SP ADR | Sold out | 0.00% | −0.15 |
| AM Antero Midstream Corp. | Reduce -20.3% | 0.85% | −0.15 |
| HESM Hess Midstream LP Class A | Reduce -21.8% | 1.03% | −0.15 |
| ABBV Abbvie Inc. | Reduce -1.5% | 2.39% | −0.14 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.13 |
| APLE Apple Hospitality REIT Inc. | Sold out | 0.00% | −0.13 |
| OGE Oge Energy Corp. | Reduce -18.0% | 0.97% | −0.13 |
| HCA HCA Healthcare Inc. | Reduce -42.0% | 0.10% | −0.12 |
| CMCSA Comcast Corp. Class A | Reduce -2.0% | 1.80% | −0.12 |
| PSX Phillips 66 | Reduce -2.2% | 1.07% | −0.11 |
| EXC Exelon Corp. | Reduce -5.1% | 1.69% | −0.11 |
| ARCC Ares Capital Corp. | Sold out | 0.00% | −0.10 |
| NTR Nutrien Ltd. | Reduce -11.9% | 0.67% | −0.10 |
| ORI Old Republic Intl Corp. | Reduce -11.5% | 2.44% | −0.09 |
| STAG Stag Industrial Inc. | Reduce -4.5% | 0.67% | −0.09 |
| AESI Atlas Energy Solutions Inc. | Reduce -77.8% | 0.03% | −0.08 |
| AMT American Tower Corp. | Reduce -8.7% | 0.20% | −0.06 |
| LAMR Lamar Advertising Co. Class A | Reduce -1.4% | 1.29% | −0.06 |
| MPC Marathon Petroleum Corp. | Reduce -25.7% | 0.11% | −0.05 |
| CCI Crown Castle Inc. | Reduce -11.2% | 0.12% | −0.05 |
| AES AES Corp. | Reduce -10.8% | 0.07% | −0.05 |
| WES Western Midstream Partners L | Reduce -8.2% | 1.98% | −0.03 |
| HWKN Hawkins Inc. | Sold out | 0.00% | −0.03 |
| ALSN Allison Transmission Holding | Sold out | 0.00% | −0.03 |
| EVR Evercore Inc. Class A | Sold out | 0.00% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| DVY iShares Select Dividend ETF | Add +369.5% | 2.15% | +1.71 |
| USB US Bancorp | New | 1.22% | +1.22 |
| GSK GSK PLC-Spon ADR | New | 0.77% | +0.77 |
| EIX Edison International | Add +565.5% | 0.90% | +0.76 |
| EPD Enterprise Products Partners | Add +5.0% | 3.31% | +0.57 |
| TRGP Targa Resources Corp. | Add +3.8% | 2.05% | +0.51 |
| KMI Kinder Morgan Inc. | Add +14.9% | 1.23% | +0.42 |
| DTM DT Midstream Inc. | Add +17.7% | 0.74% | +0.27 |
| SOBO South Bow Corp. | Add +194.5% | 0.34% | +0.23 |
| ENB Enbridge Inc. | Add +5.3% | 1.24% | +0.18 |
| KNTK Kinetik Holdings Inc. | Add +5.3% | 0.50% | +0.15 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +253.2% | 0.16% | +0.12 |
| PBA Pembina Pipeline Corp. | Add +25.5% | 0.67% | +0.11 |
| EQIX Equinix Inc. | New | 0.10% | +0.10 |
| PAA Plains All Amer Pipeline LP | Add +1.5% | 1.47% | +0.09 |
| PAGP Plains GP Holdings LP | Add +2.3% | 0.93% | +0.07 |
| LBRT Liberty Energy Inc. | Add +315.8% | 0.09% | +0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +701.3% | 0.07% | +0.06 |
| ENLC Enlink Midstream LLC | Add +1.4% | 1.08% | +0.06 |
| NI Nisource Inc. | Add +3.4% | 0.36% | +0.05 |
| CNP Centerpoint Energy Inc. | Add +5.4% | 0.29% | +0.05 |
| SRE Sempra | Add +3.4% | 0.31% | +0.04 |
| TMUS T-Mobile US Inc. | Add +3.6% | 0.27% | +0.04 |
| SM SM Energy Co. | Add +277.8% | 0.05% | +0.04 |
| AVGO Broadcom Inc. | Add +226.5% | 0.05% | +0.04 |
| XLE SS Energy Select Sector | Add +60.3% | 0.08% | +0.03 |
| IWD iShares Russell 1000 Value E | New | 0.03% | +0.03 |
| SUN Sunoco LP | Add +0.9% | 1.01% | +0.03 |
| GIBSON ENERGY INC COM | Add +5.6% | 0.19% | +0.03 |
| CQP Cheniere Energy Partners LP | Add +1.6% | 0.18% | +0.03 |
| AMLP Alerian MLP ETF | New | 0.02% | +0.02 |
| AEE Ameren Corporation | Add +3.7% | 0.21% | +0.02 |
| PPL PPL Corp. | Add +3.4% | 0.31% | +0.02 |
| WTTR Select Water Solutions Inc. | Add +1.3% | 0.10% | +0.02 |
| PCG P G & E Corp. | Add +74.5% | 0.04% | +0.02 |
| CAH Cardinal Health Inc. | New | 0.02% | +0.02 |
| ATO Atmos Energy Corp. | Add +3.4% | 0.16% | +0.02 |
| IGF iShares Global Infrastructur | New | 0.01% | +0.01 |
| WM Waste Management Inc. | Add +4.2% | 0.19% | +0.01 |
| MDU Mdu Resources Group Inc. | Add +124.2% | 0.03% | +0.01 |
| PEG Public Service Enterprise GP | Add +2.9% | 0.23% | +0.01 |
| EOG EOG Resources Inc. | Add +9.3% | 0.05% | +0.01 |
| UPS United Parcel Service Class B | Add +6.5% | 0.08% | +0.00 |
| CSX CSX Corp. | Add +1.8% | 0.20% | +0.00 |
| UNP Union Pacific Corp. | Add +2.7% | 0.18% | +0.00 |
| WEC WEC Energy Group Inc. | Add +1.3% | 0.04% | +0.00 |
| LNT Alliant Energy Corp. | Add +1.3% | 0.04% | +0.00 |
| EVRG Evergy Inc. | Add +1.4% | 0.02% | +0.00 |
| BKH Black Hills Corp. | Add +1.3% | 0.02% | +0.00 |
| DTE DTE Energy Company | Add +1.3% | 0.05% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 152 | $3.8B | MPLX, EPD, JNJ, ET, ABBV |
| Q1 2026 | 138 | $3.7B | MPLX, EPD, ET, JNJ, GSK |
| Q4 2025 | 140 | $3.3B | MPLX, JNJ, EPD, CSCO, ABBV |
| Q3 2025 | 135 | $3.3B | MPLX, EPD, JNJ, ABBV, ET |
| Q2 2025 | 136 | $3.2B | MPLX, EPD, ET, CSCO, PAYX |
| Q1 2025 | 139 | $3.1B | MPLX, EPD, ET, JNJ, ABBV |
| Q4 2024 | 136 | $3.0B | MPLX, ET, JEF, EPD, GS |
| Q3 2024 | 195 | $3.2B | MPLX, ET, EPD, GILD, KO |
| Q2 2024 | 192 | $3.0B | MPLX, ET, EPD, ABBV, GS |
| Q1 2024 | 192 | $3.0B | MPLX, EPD, ET, ABBV, AVGO |