Miller Howard Investments Inc.

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Miller Howard Investments Inc. reported 135 stock positions worth $3.3 billion. Its top holding was MPLX (MPLX) at 3.4% of the portfolio, followed by Enterprise Products Partners (EPD, 2.9%) and Johnson & Johnson (JNJ, 2.9%). Compared with Q2 2025, it opened 6 new positions, sold out of 7, added to 84 and reduced 43. The biggest buy was Conocophillips (COP, shares +987%) and the biggest sale Totalenergies SE -Spon ADR (TTE, shares −98%).

Most Recent 13F: Q2 2026
Location: KINGSTON, NY
CIK: 0000903947
Portfolio Value: $3.3B (Q3 2025)
SEC Filing: 0000903947-25-000008 ↗ filed Oct 24, 2025

Holdings Value

Holdings 135 stocks · $3.3B


MPLX MPLX LP	3.44%	2,258,674	$112.8M	Add +0.8%
EPD Enterprise Products Partners	2.94%	3,080,386	$96.3M	Reduce -8.3%
JNJ Johnson & Johnson	2.94%	519,216	$96.3M	Add +0.2%
ABBV Abbvie Inc.	2.87%	406,731	$94.2M	Add +0.3%
ET Energy Transfer LP	2.80%	5,351,145	$91.8M	Add +2.6%
ORI Old Republic Intl Corp.	2.62%	2,023,074	$85.9M	Add +0.1%
CSCO Cisco Systems Inc.	2.61%	1,250,074	$85.5M	Add +0.1%
GILD Gilead Sciences Inc.	2.24%	663,157	$73.6M	Reduce -0.1%
GSK GSK PLC-Spon ADR	2.19%	1,661,610	$71.7M	Add +0.1%
STT State Street Corp.	2.15%	606,922	$70.4M	Add +0.3%
MDT Medtronic PLC	2.13%	734,008	$69.9M	Add +0.1%
PAYX Paychex Inc.	2.10%	544,020	$69.0M	Reduce -0.1%
EWBC East West Bancorp Inc.	2.03%	626,326	$66.7M	Add +0.4%
VICI Vici Properties Inc. filed as VICI PPTYS INC	2.01%	2,023,105	$66.0M	Add +0.1%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	2.01%	603,911	$65.8M	Reduce -23.3%
EXC Exelon Corp.	1.99%	1,449,009	$65.2M	Add +0.4%
TRP TC Energy Corp.	1.88%	1,133,268	$61.7M	Reduce -1.8%
VZ Verizon Communications Inc.	1.87%	1,396,148	$61.4M	Add +0.5%
C Citigroup Inc.	1.84%	594,698	$60.4M	Add +0.3%
WMB Williams Cos Inc.	1.78%	920,121	$58.3M	Add +1.7%
WES Western Midstream Partners L	1.77%	1,480,497	$58.2M	Add +0.8%
COP Conocophillips	1.76%	611,243	$57.8M	Add +986.8%
ETR Entergy Corp.	1.74%	611,696	$57.0M	Add +0.6%
ENB Enbridge Inc.	1.67%	1,086,127	$54.8M	Reduce -11.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP	1.67%	1,062,061	$54.8M	Add +0.2%
HESM Hess Midstream LP Class A	1.59%	1,507,121	$52.1M	Add +18.4%
JPM JPMorgan Chase & Co.	1.55%	160,947	$50.8M	Reduce -30.0%
PAA Plains All Amer Pipeline LP	1.50%	2,878,958	$49.1M	Add +0.5%
KMI Kinder Morgan Inc.	1.48%	1,715,476	$48.6M	Add +0.8%
IPG Interpublic Group of Cos Inc.	1.47%	1,731,113	$48.3M	Add +1.0%
CNQ Canadian Natural Resources	1.40%	1,432,822	$45.8M	Reduce -1.3%
GS Goldman Sachs Group Inc.	1.34%	55,032	$43.8M	Add +0.4%
LNG Cheniere Energy Inc.	1.33%	185,532	$43.6M	Add +1.6%
HST Host Hotels & Resorts Inc.	1.29%	2,476,395	$42.1M	Add +0.5%
CMS CMS Energy Corp.	1.28%	573,241	$42.0M	Add +0.3%
CMCSA Comcast Corp. Class A	1.25%	1,307,297	$41.1M	Reduce -7.9%
ELS Equity Lifestyle Properties	1.22%	658,476	$40.0M	New
USB US Bancorp	1.20%	816,542	$39.5M	Add +0.5%
LAMR Lamar Advertising Co. Class A	1.19%	319,468	$39.1M	Add +0.0%
PSX Phillips 66	1.17%	282,491	$38.4M	Reduce -0.4%
AM Antero Midstream Corp.	1.14%	1,930,588	$37.5M	Add +0.3%
NTR Nutrien Ltd.	1.11%	618,911	$36.3M	Reduce -0.3%
SUN Sunoco LP	1.06%	694,880	$34.8M	Add +0.6%
GEL Genesis Energy L.P.	1.05%	2,051,440	$34.3M	Add +37.8%
JEF Jefferies Financial Group Inc.	1.04%	522,294	$34.2M	Add +0.2%
TXN Texas Instruments Inc.	1.02%	181,340	$33.3M	Reduce -0.5%
OGE Oge Energy Corp.	1.00%	708,496	$32.8M	Add +0.1%
KO The Coca-Cola Co.	0.93%	459,535	$30.5M	Reduce -0.1%
HRB H&R Block Inc. filed as BLOCK H & R INC	0.86%	560,065	$28.3M	Reduce -0.2%
TRGP Targa Resources Corp.	0.84%	163,550	$27.4M	Add +1.9%
DTM DT Midstream Inc.	0.73%	210,411	$23.8M	Add +24.9%
SOBO South Bow Corp.	0.66%	763,017	$21.6M	Add +2.2%
STAG Stag Industrial Inc.	0.65%	603,761	$21.3M	Add +0.2%
PBA Pembina Pipeline Corp.	0.63%	510,130	$20.6M	Add +0.2%
PAGP Plains GP Holdings LP	0.61%	1,100,206	$20.1M	Reduce -6.3%
HRL Hormel Foods Corp.	0.60%	801,302	$19.8M	New
KEYERA CORP COM	0.56%	549,969	$18.5M	Add +0.0%
OKE Oneok Inc.	0.56%	252,600	$18.4M	Add +0.6%
EMN Eastman Chemical Co.	0.55%	286,016	$18.0M	Reduce -18.5%
CEG Constellation Energy	0.39%	38,744	$12.7M	Add +1.5%
PPL PPL Corp.	0.37%	325,830	$12.1M	Add +2.0%
CNP Centerpoint Energy Inc.	0.35%	297,522	$11.5M	Reduce -1.2%
SRE Sempra	0.33%	119,124	$10.7M	Add +2.4%
NI Nisource Inc.	0.32%	243,553	$10.5M	Reduce -4.8%
AMT American Tower Corp.	0.31%	53,348	$10.3M	Reduce -1.0%
TMUS T-Mobile US Inc.	0.30%	40,937	$9.8M	Add +1.7%
NEE Nextera Energy Inc.	0.29%	127,348	$9.6M	Add +2.2%
ATO Atmos Energy Corp.	0.28%	54,633	$9.3M	Add +2.1%
AEE Ameren Corporation	0.28%	86,512	$9.0M	Add +2.0%
GIBSON ENERGY INC COM	0.27%	472,689	$8.8M	Add +2.3%
WM Waste Management Inc.	0.26%	39,102	$8.6M	Add +0.4%
DVY iShares Select Dividend ETF	0.26%	59,779	$8.5M	Add +0.5%
MPC Marathon Petroleum Corp.	0.25%	43,361	$8.4M	Reduce -2.9%
PEG Public Service Enterprise GP	0.24%	92,558	$7.7M	Add +2.3%
CSX CSX Corp.	0.22%	207,368	$7.4M	Add +1.3%
XEL Xcel Energy Inc.	0.22%	88,406	$7.1M	Add +3.4%
ENFR Alerian Energy Infrastructur	0.22%	218,049	$7.1M	Reduce -8.5%
T AT&T Inc.	0.22%	249,876	$7.1M	Add +1.2%
NGG National Grid PLC-SP ADR	0.20%	90,984	$6.6M	Add +1.2%
UNP Union Pacific Corp.	0.18%	25,406	$6.0M	Reduce -1.4%
CQP Cheniere Energy Partners LP	0.17%	104,522	$5.6M	Add +0.1%
AWK American Water Works Co. Inc.	0.17%	39,841	$5.5M	Add +2.2%
AR Antero Resources Corp.	0.16%	156,389	$5.2M	Add +25.0%
WCN Waste Connections Inc.	0.15%	28,696	$5.0M	Add +0.4%
VST Vistra Corp.	0.14%	24,058	$4.7M	Add +4.4%
SU Suncor Energy Inc.	0.12%	96,034	$4.0M	Reduce -10.1%
GPOR Gulfport Energy Corp.	0.12%	21,915	$4.0M	Reduce -10.1%
EQIX Equinix Inc.	0.11%	4,753	$3.7M	Reduce -0.7%
KNTK Kinetik Holdings Inc.	0.11%	83,195	$3.6M	Add +2.3%
CVX Chevron Corp.	0.10%	21,422	$3.3M	New
OXY Occidental Petroleum Corp.	0.10%	70,270	$3.3M	Reduce -10.0%
EQT Eqt Corp.	0.10%	59,860	$3.3M	Reduce -10.1%
SO The Southern Co.	0.09%	31,657	$3.0M	Add +4.4%
WTTR Select Water Solutions Inc.	0.09%	262,029	$2.8M	Add +27.0%
AEP American Electric Power	0.08%	24,455	$2.8M	Add +4.3%
XOM Exxon Mobil Corp.	0.08%	24,285	$2.7M	Reduce -24.0%
RRC Range Resources Corp.	0.08%	72,477	$2.7M	Reduce -10.1%
CCI Crown Castle Inc.	0.08%	26,716	$2.6M	New
D Dominion Energy Inc.	0.07%	37,571	$2.3M	Add +4.3%
DUK Duke Energy Corp.	0.07%	18,353	$2.3M	Add +4.4%
DTE DTE Energy Company	0.06%	14,222	$2.0M	Add +4.5%
BKR Baker Hughes Co.	0.06%	39,411	$1.9M	Reduce -10.1%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.06%	21,617	$1.9M	Add +110.6%
WEC WEC Energy Group Inc.	0.06%	16,003	$1.8M	Add +4.3%
LNT Alliant Energy Corp.	0.05%	25,800	$1.7M	Add +4.3%
UPS United Parcel Service Class B	0.05%	20,590	$1.7M	Reduce -8.6%
CVE Cenovus Energy Inc.	0.05%	98,918	$1.7M	Reduce -9.2%
EVRG Evergy Inc.	0.05%	19,461	$1.5M	Add +4.4%
VLO Valero Energy Corp.	0.04%	8,262	$1.4M	Reduce -10.1%
LBRT Liberty Energy Inc.	0.04%	105,140	$1.3M	Reduce -10.2%
AVGO Broadcom Inc.	0.04%	3,794	$1.3M	Reduce -8.6%
PCG P G & E Corp.	0.04%	78,152	$1.2M	Add +4.1%
CHRD Chord Energy Corp.	0.04%	11,647	$1.2M	Reduce -11.2%
NRG NRG Energy Inc.	0.03%	7,067	$1.1M	New
MDU Mdu Resources Group Inc.	0.03%	61,967	$1.1M	Add +4.3%
FTS Fortis Inc.	0.03%	21,101	$1.1M	Add +4.3%
HAL Halliburton Co.	0.03%	42,795	$1.1M	Reduce -10.0%
OGS One Gas Inc.	0.03%	12,299	$995K	Add +4.2%
CTRA Coterra Energy Inc.	0.03%	41,360	$978K	Reduce -10.2%
CME Cme Group Inc.	0.03%	3,590	$970K	Add +13.0%
SM SM Energy Co.	0.03%	38,092	$951K	Reduce -10.8%
BKH Black Hills Corp.	0.03%	14,140	$871K	Add +4.3%
ES Eversource Energy	0.03%	12,201	$868K	Add +4.3%
OVV Ovintiv Inc.	0.03%	20,945	$846K	Reduce -8.9%
TTE Totalenergies SE -Spon ADR	0.03%	13,738	$820K	Reduce -98.3%
AES AES Corp.	0.02%	57,869	$762K	Add +3.7%
CAH Cardinal Health Inc.	0.02%	3,930	$617K	Reduce -2.5%
RY Royal Bank of Canada	0.02%	3,971	$585K	Reduce -6.1%
RDN Radian Group Inc.	0.02%	13,824	$501K	Add +7.4%
OMC Omnicom Group	0.01%	5,711	$466K	Add +14.4%
SON Sonoco Products Co.	0.01%	9,297	$401K	Add +8.8%
NOMD Nomad Foods Ltd.	0.01%	28,430	$374K	Add +7.7%
TSM Taiwan Semiconductor-SP ADR	0.01%	973	$272K	No change
NTAP Netapp Inc.	0.01%	2,142	$254K	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.01%	376	$250K	New

Portfolio Sells Q2 2025 → Q3 2025


TTE Totalenergies SE -Spon ADR	Reduce -98.3%	0.03%	−1.53
CAG Conagra Brands Inc.	Sold out	0.00%	−0.60
JPM JPMorgan Chase & Co.	Reduce -30.0%	1.55%	−0.57
PAYX Paychex Inc.	Reduce -0.1%	2.10%	−0.41
EPD Enterprise Products Partners	Reduce -8.3%	2.94%	−0.37
CMCSA Comcast Corp. Class A	Reduce -7.9%	1.25%	−0.35
EMN Eastman Chemical Co.	Reduce -18.5%	0.55%	−0.28
BNY Bank of New York Mellon Corp.	Reduce -23.3%	2.01%	−0.27
TXN Texas Instruments Inc.	Reduce -0.5%	1.02%	−0.18
HES Hess Corp.	Sold out	0.00%	−0.14
HRB H&R Block Inc.	Reduce -0.2%	0.86%	−0.11
PAGP Plains GP Holdings LP	Reduce -6.3%	0.61%	−0.11
KO The Coca-Cola Co.	Reduce -0.1%	0.93%	−0.10
ENB Enbridge Inc.	Reduce -11.4%	1.67%	−0.09
GILD Gilead Sciences Inc.	Reduce -0.1%	2.24%	−0.09
AMT American Tower Corp.	Reduce -1.0%	0.31%	−0.06
CNQ Canadian Natural Resources	Reduce -1.3%	1.40%	−0.05
NTR Nutrien Ltd.	Reduce -0.3%	1.11%	−0.04
DINO HF Sinclair Corp.	Sold out	0.00%	−0.04
GPOR Gulfport Energy Corp.	Reduce -10.1%	0.12%	−0.03
ENFR Alerian Energy Infrastructur	Reduce -8.5%	0.22%	−0.03
XOM Exxon Mobil Corp.	Reduce -24.0%	0.08%	−0.03
EQT Eqt Corp.	Reduce -10.1%	0.10%	−0.02
RRC Range Resources Corp.	Reduce -10.1%	0.08%	−0.02
UPS United Parcel Service Class B	Reduce -8.6%	0.05%	−0.02
PFE Pfizer Inc.	Sold out	0.00%	−0.01
TGT Target Corp.	Sold out	0.00%	−0.01
MAA Mid-America Apartment Comm	Sold out	0.00%	−0.01
EQIX Equinix Inc.	Reduce -0.7%	0.11%	−0.01
CTRA Coterra Energy Inc.	Reduce -10.2%	0.03%	−0.01
CPT Camden Property Trust	Sold out	0.00%	−0.01
NI Nisource Inc.	Reduce -4.8%	0.32%	−0.01
CHRD Chord Energy Corp.	Reduce -11.2%	0.04%	−0.01
UNP Union Pacific Corp.	Reduce -1.4%	0.18%	−0.01
SM SM Energy Co.	Reduce -10.8%	0.03%	−0.00
SU Suncor Energy Inc.	Reduce -10.1%	0.12%	−0.00
LBRT Liberty Energy Inc.	Reduce -10.2%	0.04%	−0.00
OXY Occidental Petroleum Corp.	Reduce -10.0%	0.10%	−0.00
CAH Cardinal Health Inc.	Reduce -2.5%	0.02%	−0.00
OVV Ovintiv Inc.	Reduce -8.9%	0.03%	−0.00
RY Royal Bank of Canada	Reduce -6.1%	0.02%	+0.00
CNP Centerpoint Energy Inc.	Reduce -1.2%	0.35%	+0.00
HAL Halliburton Co.	Reduce -10.0%	0.03%	+0.00
AVGO Broadcom Inc.	Reduce -8.6%	0.04%	+0.00
VLO Valero Energy Corp.	Reduce -10.1%	0.04%	+0.00
CVE Cenovus Energy Inc.	Reduce -9.2%	0.05%	+0.00
BKR Baker Hughes Co.	Reduce -10.1%	0.06%	+0.01
MPC Marathon Petroleum Corp.	Reduce -2.9%	0.25%	+0.02
TRP TC Energy Corp.	Reduce -1.8%	1.88%	+0.10
PSX Phillips 66	Reduce -0.4%	1.17%	+0.10

Portfolio Buys Q2 2025 → Q3 2025


COP Conocophillips	Add +986.8%	1.76%	+1.60
ELS Equity Lifestyle Properties	New	1.22%	+1.22
HRL Hormel Foods Corp.	New	0.60%	+0.60
ABBV Abbvie Inc.	Add +0.3%	2.87%	+0.48
JNJ Johnson & Johnson	Add +0.2%	2.94%	+0.43
C Citigroup Inc.	Add +0.3%	1.84%	+0.24
GEL Genesis Energy L.P.	Add +37.8%	1.05%	+0.23
GSK GSK PLC-Spon ADR	Add +0.1%	2.19%	+0.17
ORI Old Republic Intl Corp.	Add +0.1%	2.62%	+0.16
IPG Interpublic Group of Cos Inc.	Add +1.0%	1.47%	+0.14
JEF Jefferies Financial Group Inc.	Add +0.2%	1.04%	+0.14
DTM DT Midstream Inc.	Add +24.9%	0.73%	+0.14
ETR Entergy Corp.	Add +0.6%	1.74%	+0.14
STT State Street Corp.	Add +0.3%	2.15%	+0.11
GS Goldman Sachs Group Inc.	Add +0.4%	1.34%	+0.11
MDT Medtronic PLC	Add +0.1%	2.13%	+0.11
CVX Chevron Corp.	New	0.10%	+0.10
HST Host Hotels & Resorts Inc.	Add +0.5%	1.29%	+0.08
BAC Bank of America Corp.	Add +0.2%	1.67%	+0.08
CCI Crown Castle Inc.	New	0.08%	+0.08
SRE Sempra	Add +2.4%	0.33%	+0.05
SOBO South Bow Corp.	Add +2.2%	0.66%	+0.04
USB US Bancorp	Add +0.5%	1.20%	+0.04
NRG NRG Energy Inc.	New	0.03%	+0.03
EWBC East West Bancorp Inc.	Add +0.4%	2.03%	+0.03
HESM Hess Midstream LP Class A	Add +18.4%	1.59%	+0.03
XEL Xcel Energy Inc.	Add +3.4%	0.22%	+0.03
XLU St Sr Utl SL SE SPDR ETF-Usd	Add +110.6%	0.06%	+0.03
WTTR Select Water Solutions Inc.	Add +27.0%	0.09%	+0.03
PPL PPL Corp.	Add +2.0%	0.37%	+0.03
CMS CMS Energy Corp.	Add +0.3%	1.28%	+0.03
PBA Pembina Pipeline Corp.	Add +0.2%	0.63%	+0.02
ATO Atmos Energy Corp.	Add +2.1%	0.28%	+0.02
NEE Nextera Energy Inc.	Add +2.2%	0.29%	+0.02
AEE Ameren Corporation	Add +2.0%	0.28%	+0.02
CSX CSX Corp.	Add +1.3%	0.22%	+0.01
GIBSON ENERGY INC COM	Add +2.3%	0.27%	+0.01
DVY iShares Select Dividend ETF	Add +0.5%	0.26%	+0.01
SPY SS SPDR S&P 500 ETF Trust-US	New	0.01%	+0.01
AEP American Electric Power	Add +4.3%	0.08%	+0.01
LNT Alliant Energy Corp.	Add +4.3%	0.05%	+0.01
D Dominion Energy Inc.	Add +4.3%	0.07%	+0.01
WEC WEC Energy Group Inc.	Add +4.3%	0.06%	+0.01
AES AES Corp.	Add +3.7%	0.02%	+0.00
EVRG Evergy Inc.	Add +4.4%	0.05%	+0.00
DTE DTE Energy Company	Add +4.5%	0.06%	+0.00
OGE Oge Energy Corp.	Add +0.1%	1.00%	+0.00
DUK Duke Energy Corp.	Add +4.4%	0.07%	+0.00
OGS One Gas Inc.	Add +4.2%	0.03%	+0.00
SO The Southern Co.	Add +4.4%	0.09%	+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