Miller Howard Investments Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), Miller Howard Investments Inc. reported 139 stock positions worth $3.1 billion. Its top holding was MPLX (MPLX) at 4.0% of the portfolio, followed by Enterprise Products Partners (EPD, 3.6%) and Energy Transfer (ET, 3.0%). Compared with Q4 2024, it opened 11 new positions, sold out of 8, added to 64 and reduced 64. The biggest buy was a new position in Vici Properties (VICI) and the biggest sale Jefferies Financial (JEF, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- KINGSTON, NY
- CIK
- 0000903947
- Portfolio Value
- $3.1B (Q1 2025)
- SEC Filing
- 0000903947-25-000002 ↗ filed Apr 28, 2025
Holdings Value
Holdings 139 stocks · $3.1B
| MPLX MPLX LP | 3.95% | 2,319,685 | $124.1M | Reduce -1.7% |
| EPD Enterprise Products Partners | 3.62% | 3,333,886 | $113.8M | Add +3.9% |
| ET Energy Transfer LP | 2.98% | 5,033,609 | $93.6M | Reduce -9.8% |
| JNJ Johnson & Johnson | 2.73% | 517,996 | $85.9M | Add +23.6% |
| ABBV Abbvie Inc. | 2.70% | 405,119 | $84.9M | Reduce -1.0% |
| PAYX Paychex Inc. | 2.67% | 543,413 | $83.8M | Reduce -1.5% |
| ORI Old Republic Intl Corp. | 2.52% | 2,018,211 | $79.2M | Reduce -1.5% |
| CSCO Cisco Systems Inc. | 2.45% | 1,246,565 | $76.9M | Reduce -1.3% |
| GILD Gilead Sciences Inc. | 2.37% | 664,857 | $74.5M | Reduce -29.5% |
| EXC Exelon Corp. | 2.11% | 1,437,703 | $66.2M | Add +5.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.10% | 788,144 | $66.1M | Reduce -25.3% |
| MDT Medtronic PLC | 2.09% | 732,044 | $65.8M | Reduce -0.4% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.09% | 2,015,640 | $65.8M | New |
| GSK GSK PLC-Spon ADR | 2.03% | 1,646,791 | $63.8M | Add +138.3% |
| VZ Verizon Communications Inc. | 1.99% | 1,380,512 | $62.6M | New |
| WES Western Midstream Partners L | 1.86% | 1,427,187 | $58.5M | Reduce -8.9% |
| PAA Plains All Amer Pipeline LP | 1.82% | 2,861,430 | $57.2M | Add +9.6% |
| JPM JPMorgan Chase & Co. | 1.79% | 229,459 | $56.3M | Reduce -20.8% |
| EWBC East West Bancorp Inc. | 1.78% | 623,727 | $56.0M | Reduce -1.4% |
| HESM Hess Midstream LP Class A | 1.75% | 1,299,294 | $54.9M | Add +53.5% |
| CMCSA Comcast Corp. Class A | 1.64% | 1,399,291 | $51.6M | Reduce -3.9% |
| TTE Totalenergies SE -Spon ADR | 1.64% | 797,687 | $51.6M | Add +2.7% |
| ETR Entergy Corp. | 1.64% | 601,632 | $51.4M | Reduce -3.6% |
| ENB Enbridge Inc. | 1.56% | 1,103,207 | $48.9M | Add +24.1% |
| TRGP Targa Resources Corp. | 1.52% | 238,248 | $47.8M | Reduce -31.8% |
| DVY iShares Select Dividend ETF | 1.50% | 351,271 | $47.2M | Reduce -29.6% |
| IPG Interpublic Group of Cos Inc. | 1.45% | 1,672,120 | $45.4M | Reduce -1.7% |
| CNQ Canadian Natural Resources | 1.41% | 1,439,372 | $44.3M | Add +30.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.41% | 1,058,472 | $44.2M | Reduce -1.4% |
| CMS CMS Energy Corp. | 1.36% | 567,186 | $42.6M | Add +0.6% |
| STT State Street Corp. | 1.35% | 474,741 | $42.5M | New |
| WMB Williams Cos Inc. | 1.35% | 709,113 | $42.4M | Add +3.7% |
| SUN Sunoco LP | 1.27% | 687,244 | $39.9M | Add +15.5% |
| LNG Cheniere Energy Inc. | 1.19% | 161,962 | $37.5M | Reduce -12.7% |
| KMI Kinder Morgan Inc. | 1.17% | 1,290,732 | $36.8M | Reduce -5.3% |
| LAMR Lamar Advertising Co. Class A | 1.15% | 318,028 | $36.2M | Reduce -1.4% |
| OKE Oneok Inc. | 1.15% | 362,675 | $36.0M | Add +1.1% |
| PSX Phillips 66 | 1.12% | 285,566 | $35.3M | Add +0.1% |
| KO The Coca-Cola Co. | 1.05% | 461,508 | $33.1M | Reduce -58.4% |
| C Citigroup Inc. | 1.05% | 465,517 | $33.0M | New |
| MRK Merck & Co. Inc. | 1.04% | 364,668 | $32.7M | Reduce -1.1% |
| TXN Texas Instruments Inc. | 1.04% | 181,909 | $32.7M | Reduce -1.6% |
| OGE Oge Energy Corp. | 1.03% | 705,974 | $32.4M | Reduce -0.9% |
| AM Antero Midstream Corp. | 0.99% | 1,731,216 | $31.2M | Add +0.8% |
| NTR Nutrien Ltd. | 0.98% | 619,634 | $30.8M | Add +36.1% |
| PAGP Plains GP Holdings LP | 0.97% | 1,432,818 | $30.6M | Reduce -6.7% |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.97% | 554,160 | $30.4M | New |
| GS Goldman Sachs Group Inc. | 0.95% | 54,708 | $29.9M | Reduce -66.0% |
| CAG Conagra Brands Inc. | 0.93% | 1,100,073 | $29.3M | Add +26.9% |
| TRP TC Energy Corp. | 0.89% | 595,351 | $28.1M | Reduce -0.2% |
| JEF Jefferies Financial Group Inc. | 0.89% | 520,350 | $27.9M | Reduce -60.5% |
| HST Host Hotels & Resorts Inc. | 0.88% | 1,946,406 | $27.7M | Reduce -13.8% |
| USB US Bancorp | 0.87% | 645,787 | $27.3M | Reduce -16.8% |
| RHI Robert Half Inc. | 0.73% | 422,936 | $23.1M | Reduce -22.2% |
| STAG Stag Industrial Inc. | 0.69% | 603,279 | $21.8M | Add +0.6% |
| SOBO South Bow Corp. | 0.66% | 817,558 | $20.9M | Add +87.8% |
| GEL Genesis Energy L.P. | 0.62% | 1,232,404 | $19.3M | New |
| PBA Pembina Pipeline Corp. | 0.56% | 438,954 | $17.6M | Reduce -20.5% |
| DTM DT Midstream Inc. | 0.55% | 179,272 | $17.3M | Reduce -21.1% |
| KEYERA CORP COM | 0.43% | 431,750 | $13.4M | Reduce -2.4% |
| AMT American Tower Corp. | 0.36% | 52,095 | $11.3M | Add +54.5% |
| PPL PPL Corp. | 0.36% | 310,552 | $11.2M | Add +6.5% |
| CNP Centerpoint Energy Inc. | 0.34% | 293,085 | $10.6M | Add +6.2% |
| TMUS T-Mobile US Inc. | 0.34% | 39,787 | $10.6M | Add +6.7% |
| ENFR Alerian Energy Infrastructur | 0.32% | 310,011 | $10.2M | New |
| NI Nisource Inc. | 0.32% | 246,844 | $9.9M | Reduce -16.3% |
| WM Waste Management Inc. | 0.28% | 38,007 | $8.8M | Add +31.7% |
| NEE Nextera Energy Inc. | 0.27% | 120,153 | $8.5M | Add +8.1% |
| KNTK Kinetik Holdings Inc. | 0.26% | 156,563 | $8.1M | Reduce -42.0% |
| ATO Atmos Energy Corp. | 0.25% | 51,705 | $8.0M | Add +45.9% |
| AEE Ameren Corporation | 0.25% | 79,159 | $7.9M | Add +10.3% |
| SRE Sempra | 0.25% | 109,269 | $7.8M | Add +1.8% |
| CEG Constellation Energy | 0.23% | 36,483 | $7.4M | Reduce -7.7% |
| PEG Public Service Enterprise GP | 0.23% | 88,005 | $7.2M | Add +6.5% |
| CQP Cheniere Energy Partners LP | 0.22% | 104,157 | $6.9M | Add +2.0% |
| T AT&T Inc. | 0.22% | 240,943 | $6.8M | New |
| COP Conocophillips | 0.20% | 60,294 | $6.3M | Add +98.2% |
| UNP Union Pacific Corp. | 0.19% | 25,536 | $6.0M | Add +6.0% |
| NGG National Grid PLC-SP ADR | 0.18% | 87,436 | $5.7M | Add +1.6% |
| CSX CSX Corp. | 0.18% | 188,701 | $5.6M | Add +0.8% |
| AWK American Water Works Co. Inc. | 0.18% | 37,559 | $5.5M | Add +44.0% |
| AR Antero Resources Corp. | 0.17% | 135,513 | $5.5M | Reduce -3.4% |
| HES Hess Corp. | 0.17% | 34,287 | $5.5M | Add +2.9% |
| GIBSON ENERGY INC COM | 0.17% | 337,239 | $5.2M | Reduce -2.4% |
| WCN Waste Connections Inc. | 0.15% | 23,838 | $4.7M | New |
| SU Suncor Energy Inc. | 0.14% | 115,700 | $4.5M | Reduce -3.3% |
| OXY Occidental Petroleum Corp. | 0.13% | 84,065 | $4.1M | Add +6.8% |
| XOM Exxon Mobil Corp. | 0.13% | 34,664 | $4.1M | Reduce -3.2% |
| MPC Marathon Petroleum Corp. | 0.13% | 27,521 | $4.0M | Add +10.6% |
| EQT Eqt Corp. | 0.12% | 72,112 | $3.9M | Reduce -2.5% |
| RRC Range Resources Corp. | 0.11% | 87,414 | $3.5M | Reduce -1.8% |
| EQIX Equinix Inc. | 0.10% | 3,864 | $3.2M | Add +20.1% |
| SO The Southern Co. | 0.08% | 28,731 | $2.6M | Add +8.8% |
| AES AES Corp. | 0.08% | 207,942 | $2.6M | Add +23.4% |
| VST Vistra Corp. | 0.08% | 21,796 | $2.6M | Reduce -3.8% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.08% | 31,541 | $2.5M | Reduce -51.3% |
| GPOR Gulfport Energy Corp. | 0.08% | 13,223 | $2.4M | New |
| AEP American Electric Power | 0.08% | 22,184 | $2.4M | Add +8.8% |
| UPS United Parcel Service Class B | 0.08% | 21,456 | $2.4M | Add +6.3% |
| WTTR Select Water Solutions Inc. | 0.07% | 222,082 | $2.3M | Reduce -5.0% |
Portfolio Sells Q4 2024 → Q1 2025
| JEF Jefferies Financial Group Inc. | Reduce -60.5% | 0.89% | −2.51 |
| GS Goldman Sachs Group Inc. | Reduce -66.0% | 0.95% | −2.08 |
| RY Royal Bank of Canada | Reduce -98.5% | 0.03% | −1.91 |
| KO The Coca-Cola Co. | Reduce -58.4% | 1.05% | −1.22 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −1.08 |
| EIX Edison International | Sold out | 0.00% | −0.90 |
| DVY iShares Select Dividend ETF | Reduce -29.6% | 1.50% | −0.65 |
| ET Energy Transfer LP | Reduce -9.8% | 2.98% | −0.62 |
| BNY Bank of New York Mellon Corp. | Reduce -25.3% | 2.10% | −0.56 |
| TRGP Targa Resources Corp. | Reduce -31.8% | 1.52% | −0.53 |
| RHI Robert Half Inc. | Reduce -22.2% | 0.73% | −0.52 |
| GILD Gilead Sciences Inc. | Reduce -29.5% | 2.37% | −0.49 |
| JPM JPMorgan Chase & Co. | Reduce -20.8% | 1.79% | −0.49 |
| HST Host Hotels & Resorts Inc. | Reduce -13.8% | 0.88% | −0.42 |
| USB US Bancorp | Reduce -16.8% | 0.87% | −0.35 |
| KNTK Kinetik Holdings Inc. | Reduce -42.0% | 0.26% | −0.24 |
| EWBC East West Bancorp Inc. | Reduce -1.4% | 1.78% | −0.21 |
| DTM DT Midstream Inc. | Reduce -21.1% | 0.55% | −0.19 |
| MRK Merck & Co. Inc. | Reduce -1.1% | 1.04% | −0.16 |
| CMCSA Comcast Corp. Class A | Reduce -3.9% | 1.64% | −0.15 |
| BAC Bank of America Corp. | Reduce -1.4% | 1.41% | −0.14 |
| LAMR Lamar Advertising Co. Class A | Reduce -1.4% | 1.15% | −0.14 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.12 |
| IPG Interpublic Group of Cos Inc. | Reduce -1.7% | 1.45% | −0.12 |
| WES Western Midstream Partners L | Reduce -8.9% | 1.86% | −0.12 |
| LNG Cheniere Energy Inc. | Reduce -12.7% | 1.19% | −0.12 |
| PBA Pembina Pipeline Corp. | Reduce -20.5% | 0.56% | −0.11 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -1.6% | 1.04% | −0.10 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -51.3% | 0.08% | −0.08 |
| XLE SS Energy Select Sector | Reduce -89.4% | 0.01% | −0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.07 |
| CEG Constellation Energy | Reduce -7.7% | 0.23% | −0.06 |
| KMI Kinder Morgan Inc. | Reduce -5.3% | 1.17% | −0.06 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.05 |
| NI Nisource Inc. | Reduce -16.3% | 0.32% | −0.04 |
| WTTR Select Water Solutions Inc. | Reduce -5.0% | 0.07% | −0.03 |
| GIBSON ENERGY INC COM | Reduce -2.4% | 0.17% | −0.03 |
| ASB Associated Banc-Corp. | Sold out | 0.00% | −0.02 |
| AVGO Broadcom Inc. | Reduce -24.2% | 0.03% | −0.02 |
| LBRT Liberty Energy Inc. | Reduce -4.7% | 0.06% | −0.02 |
| VST Vistra Corp. | Reduce -3.8% | 0.08% | −0.02 |
| IWD iShares Russell 1000 Value E | Reduce -60.6% | 0.01% | −0.02 |
| CPT Camden Property Trust | Reduce -71.2% | 0.01% | −0.02 |
| TRP TC Energy Corp. | Reduce -0.2% | 0.89% | −0.02 |
| KEYERA CORP COM | Reduce -2.4% | 0.43% | −0.02 |
| IGF iShares Global Infrastructur | Sold out | 0.00% | −0.01 |
| AMLP Alerian MLP ETF | Reduce -59.9% | 0.01% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -1.3% | 2.45% | −0.01 |
| MAA Mid-America Apartment Comm | Reduce -59.0% | 0.01% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| VICI Vici Properties Inc. | New | 2.09% | +2.09 |
| VZ Verizon Communications Inc. | New | 1.99% | +1.99 |
| STT State Street Corp. | New | 1.35% | +1.35 |
| GSK GSK PLC-Spon ADR | Add +138.3% | 2.03% | +1.26 |
| C Citigroup Inc. | New | 1.05% | +1.05 |
| HRB H&R Block Inc. | New | 0.97% | +0.97 |
| JNJ Johnson & Johnson | Add +23.6% | 2.73% | +0.74 |
| HESM Hess Midstream LP Class A | Add +53.5% | 1.75% | +0.72 |
| GEL Genesis Energy L.P. | New | 0.62% | +0.62 |
| EXC Exelon Corp. | Add +5.5% | 2.11% | +0.42 |
| PAA Plains All Amer Pipeline LP | Add +9.6% | 1.82% | +0.36 |
| SOBO South Bow Corp. | Add +87.8% | 0.66% | +0.33 |
| ENFR Alerian Energy Infrastructur | New | 0.32% | +0.32 |
| ENB Enbridge Inc. | Add +24.1% | 1.56% | +0.32 |
| EPD Enterprise Products Partners | Add +3.9% | 3.62% | +0.31 |
| NTR Nutrien Ltd. | Add +36.1% | 0.98% | +0.31 |
| CNQ Canadian Natural Resources | Add +30.7% | 1.41% | +0.29 |
| SUN Sunoco LP | Add +15.5% | 1.27% | +0.26 |
| TTE Totalenergies SE -Spon ADR | Add +2.7% | 1.64% | +0.25 |
| T AT&T Inc. | New | 0.22% | +0.22 |
| AMT American Tower Corp. | Add +54.5% | 0.36% | +0.16 |
| WCN Waste Connections Inc. | New | 0.15% | +0.15 |
| CAG Conagra Brands Inc. | Add +26.9% | 0.93% | +0.14 |
| AM Antero Midstream Corp. | Add +0.8% | 0.99% | +0.14 |
| WMB Williams Cos Inc. | Add +3.7% | 1.35% | +0.13 |
| CMS CMS Energy Corp. | Add +0.6% | 1.36% | +0.12 |
| COP Conocophillips | Add +98.2% | 0.20% | +0.10 |
| ATO Atmos Energy Corp. | Add +45.9% | 0.25% | +0.09 |
| WM Waste Management Inc. | Add +31.7% | 0.28% | +0.09 |
| GPOR Gulfport Energy Corp. | New | 0.08% | +0.08 |
| XEL Xcel Energy Inc. | New | 0.07% | +0.07 |
| AWK American Water Works Co. Inc. | Add +44.0% | 0.18% | +0.07 |
| TMUS T-Mobile US Inc. | Add +6.7% | 0.34% | +0.07 |
| PSX Phillips 66 | Add +0.1% | 1.12% | +0.05 |
| CNP Centerpoint Energy Inc. | Add +6.2% | 0.34% | +0.05 |
| PPL PPL Corp. | Add +6.5% | 0.36% | +0.05 |
| AEE Ameren Corporation | Add +10.3% | 0.25% | +0.04 |
| CQP Cheniere Energy Partners LP | Add +2.0% | 0.22% | +0.04 |
| HES Hess Corp. | Add +2.9% | 0.17% | +0.03 |
| STAG Stag Industrial Inc. | Add +0.6% | 0.69% | +0.03 |
| AEP American Electric Power | Add +8.8% | 0.08% | +0.02 |
| EVRG Evergy Inc. | Add +49.8% | 0.04% | +0.01 |
| NGG National Grid PLC-SP ADR | Add +1.6% | 0.18% | +0.01 |
| MPC Marathon Petroleum Corp. | Add +10.6% | 0.13% | +0.01 |
| SO The Southern Co. | Add +8.8% | 0.08% | +0.01 |
| UNP Union Pacific Corp. | Add +6.0% | 0.19% | +0.01 |
| AES AES Corp. | Add +23.4% | 0.08% | +0.01 |
| DUK Duke Energy Corp. | Add +8.8% | 0.06% | +0.01 |
| DTE DTE Energy Company | Add +8.9% | 0.06% | +0.01 |
| NEE Nextera Energy Inc. | Add +8.1% | 0.27% | +0.01 |
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 |