MILLER HOWARD INVESTMENTS INC /NY

KINGSTON, NY · CIK 903947 · 13F filing filed 2023-07-21

SEC-registered investment adviser since 1986 · corporation

Assets managed$3.8bn
Staff34 · 12 in investment roles
Main clients (by assets)Individuals 13%, Mutual funds and ETFs 11%, High net worth individuals 9%
Websitemhinvest.com
Form ADV · 2026-03-17SEC adviser record

Legal entityMILLER/HOWARD INVESTMENTS, INC. (US)

$2.8bn reported value +1.7% vs Q1 2023

191positions

27.6%in top 10

16 new 106 added 54 reduced 17 sold out vs Q1 2023

Also in the report of:

PERSONAL CFO SOLUTIONS, LLC – $1.5m of shares are in both reports
Dorsey & Whitney Trust CO LLC – $502.3k of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	BROADCOM INC COM AVGO	AVGO	105,084	$91.2m3.25%	3.25%	Reduced -249	-249 -0.2%
2	JOHNSON & JOHNSON COM JNJ	JNJ	488,004	$80.8m2.88%	2.88%	Added +1.3k	+1,333 0.3%
3	MERCK & CO INC COM MRK	MRK	686,041	$79.2m2.82%	2.82%	Added +505	+505 0.1%
4	CARDINAL HEALTH INC COM CAH	CAH	835,725	$79.0m2.81%	2.81%	Reduced -866	-866 -0.1%
5	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	2,978,987	$78.5m2.79%	2.79%	Added +658.8k	+658,755 28.4%
6	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	5,877,883	$74.6m2.66%	2.66%	Reduced -28.5k	-28,518 -0.5%
7	TEXAS INSTRS INC COM TXN	TXN	411,411	$74.1m2.64%	2.64%	Added +328	+328 0.1%
8	MPLX LP COM UNIT REP LTD MPLX	MPLX	2,155,041	$73.1m2.60%	2.60%	Reduced -14.8k	-14,810 -0.7%
9	INTERPUBLIC GROUP COS INC COM IPG	IPG	1,888,953	$72.9m2.59%	2.59%	Reduced -993	-993 -0.1%
10	CISCO SYS INC COM CSCO	CSCO	1,364,980	$70.6m2.51%	2.51%	Added +1.0k	+1,040 0.1%
11	EOG RES INC COM EOG	EOG	579,750	$66.3m2.36%	2.36%	Added +48.6k	+48,603 9.2%
12	EXELON CORP COM EXC	EXC	1,610,077	$65.6m2.34%	2.34%	Reduced -19.0k	-18,969 -1.2%
13	COMCAST CORP NEW CL A CMCSA	CMCSA	1,523,660	$63.3m2.25%	2.25%	Added +2.0k	+1,985 0.1%
14	ABBVIE INC COM ABBV	ABBV	463,533	$62.5m2.22%	2.22%	Added +208	+208 0.0%
15	OLD REP INTL CORP COM ORI	ORI	2,455,869	$61.8m2.20%	2.20%	Reduced -3.1k	-3,139 -0.1%
16	GOLDMAN SACHS GROUP INC COM GS	GS	186,414	$60.1m2.14%	2.14%	Added +4.7k	+4,724 2.6%
17	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		977,339	$56.3m2.01%	2.01%	Added +5.0k	+5,023 0.5%
18	GILEAD SCIENCES INC COM GILD	GILD	724,017	$55.8m1.99%	1.99%	Reduced -23.9k	-23,943 -3.2%
19	UNITED PARCEL SERVICE INC CL B UPS	UPS	309,628	$55.5m1.98%	1.98%	Reduced -376	-376 -0.1%
20	CMS ENERGY CORP COM CMS	CMS	915,934	$53.8m1.92%	1.92%	Reduced -39.2k	-39,160 -4.1%
21	LYONDELLBASELL INDUSTRIES N SHS - A - LYB	LYB	574,575	$52.8m1.88%	1.88%	Added +37.3k	+37,272 6.9%
22	BANK NEW YORK MELLON CORP COM BNY	BNY	1,132,166	$50.4m1.79%	1.79%	Added +8.4k	+8,364 0.7%
23	COCA COLA CO COM KO	KO	835,297	$50.3m1.79%	1.79%	Added +2.6k	+2,552 0.3%
24	GENUINE PARTS CO COM GPC	GPC	282,379	$47.8m1.70%	1.70%	Reduced -142.0k	-142,001 -33.5%
25	JEFFERIES FINL GROUP INC COM JEF	JEF	1,427,688	$47.4m1.69%	1.69%	Added +3.1k	+3,135 0.2%
26	JPMORGAN CHASE & CO COM JPM	JPM	314,093	$45.7m1.63%	1.63%	Added +1.1k	+1,121 0.4%
27	ROYAL BK CDA COM RY	RY	478,049	$45.7m1.63%	1.63%	New
28	WALGREENS BOOTS ALLIANCE INC COM WBA	WBA	1,503,434	$42.8m1.53%	1.53%	Reduced -39.6k	-39,551 -2.6%
29	MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP COM UNIT RP LP		648,125	$40.4m1.44%	1.44%	Reduced -4.3k	-4,302 -0.7%
30	LAMAR ADVERTISING CO NEW CL A LAMR	LAMR	403,898	$40.1m1.43%	1.43%	Reduced -31.0k	-30,968 -7.1%
31	PORTLAND GEN ELEC CO COM NEW POR	POR	801,861	$37.6m1.34%	1.34%	Added +24.5k	+24,526 3.2%
32	PHILLIPS 66 COM PSX	PSX	375,776	$35.8m1.28%	1.28%	Added +342.6k	+342,580 1032.0%
33	WESTERN MIDSTREAM PARTNERS L COM UNIT LP INT WES	WES	1,330,764	$35.3m1.26%	1.26%	Reduced -18.3k	-18,332 -1.4%
34	PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN PAA	PAA	2,455,278	$34.6m1.23%	1.23%	Reduced -28.7k	-28,723 -1.2%
35	CONAGRA BRANDS INC COM CAG	CAG	938,771	$31.7m1.13%	1.13%	Added +736.9k	+736,855 364.9%
36	HUNTSMAN CORP COM HUN	HUN	1,119,745	$30.3m1.08%	1.08%	Added +31.1k	+31,104 2.9%
37	PLAINS GP HLDGS L P LTD PARTNR INT A PAGP	PAGP	2,013,889	$29.9m1.06%	1.06%	Added +15.4k	+15,362 0.8%
38	TARGA RES CORP COM TRGP	TRGP	386,733	$29.4m1.05%	1.05%	Reduced -8.2k	-8,194 -2.1%
39	CHENIERE ENERGY INC COM NEW LNG	LNG	188,909	$28.8m1.02%	1.02%	Reduced -1.3k	-1,286 -0.7%
40	ENBRIDGE INC COM ENB	ENB	756,746	$28.1m1.00%	1.00%	Added +56.6k	+56,586 8.1%
41	ANTERO MIDSTREAM CORP COM AM	AM	2,160,054	$25.1m0.89%	0.89%	Added +367.1k	+367,141 20.5%
42	ENLINK MIDSTREAM LLC COM UNIT REP LTD ENLC	ENLC	2,307,624	$24.5m0.87%	0.87%	Reduced -74.2k	-74,153 -3.1%
43	STAG INDL INC COM STAG	STAG	664,849	$23.9m0.85%	0.85%	Added +812	+812 0.1%
44	MID-AMER APT CMNTYS INC COM MAA	MAA	142,232	$21.6m0.77%	0.77%	Added +3.9k	+3,924 2.8%
45	CAMDEN PPTY TR SH BEN INT CPT	CPT	193,620	$21.1m0.75%	0.75%	Added +4.6k	+4,618 2.4%
46	WILLIAMS COS INC COM WMB	WMB	634,946	$20.7m0.74%	0.74%	Reduced -19.1k	-19,135 -2.9%
47	TC ENERGY CORP COM TRP	TRP	504,394	$20.4m0.73%	0.73%	Added +11.0k	+10,953 2.2%
48	MSC INDL DIRECT INC CL A MSM	MSM	208,840	$19.9m0.71%	0.71%	New
49	ISHARES TR SELECT DIVID ETF DVY	DVY	139,713	$15.8m0.56%	0.56%	Added +23.6k	+23,610 20.3%
50	KINDER MORGAN INC DEL COM KMI	KMI	858,162	$14.8m0.53%	0.53%	Added +18.1k	+18,072 2.1%
51	EQUITRANS MIDSTREAM CORP COM ETRN	ETRN	1,480,772	$14.2m0.50%	0.50%	Added +295.0k	+294,983 24.9%
52	CANADIAN NAT RES LTD COM CNQ	CNQ	228,204	$12.8m0.46%	0.46%	Added +638	+638 0.3%
53	SEMPRA COM SRE	SRE	75,338	$11.0m0.39%	0.39%	Added +1.5k	+1,520 2.1%
54	CRESTWOOD EQUITY PARTNERS LP UNIT LTD PARTNER CEQP	CEQP	400,384	$10.6m0.38%	0.38%	Reduced -4.5k	-4,544 -1.1%
55	NISOURCE INC COM NI	NI	375,144	$10.3m0.37%	0.37%	Added +5.1k	+5,059 1.4%
56	SUNOCO LP/SUNOCO FIN CORP COM UT REP LP SUN	SUN	224,161	$9.8m0.35%	0.35%	New
57	KEYERA CORP COM COM COM		404,889	$9.3m0.33%	0.33%	Added +6.7k	+6,748 1.7%
58	ONEOK INC NEW COM OKE	OKE	147,092	$9.1m0.32%	0.32%	Added +2.4k	+2,438 1.7%
59	MARATHON PETE CORP COM MPC	MPC	75,985	$8.9m0.32%	0.32%	Reduced -22.6k	-22,630 -22.9%
60	ENTERGY CORP NEW COM ETR	ETR	90,488	$8.8m0.31%	0.31%	Added +1.3k	+1,304 1.5%
61	PPL CORP COM PPL	PPL	331,734	$8.8m0.31%	0.31%	Added +52.4k	+52,374 18.8%
62	PEMBINA PIPELINE CORP COM PBA	PBA	278,435	$8.8m0.31%	0.31%	Added +4.6k	+4,617 1.7%
63	DT MIDSTREAM INC COMMON STOCK DTM	DTM	166,584	$8.3m0.29%	0.29%	Added +2.8k	+2,760 1.7%
64	PIONEER NAT RES CO COM PXD	PXD	39,416	$8.2m0.29%	0.29%	Added +28.9k	+28,901 274.9%
65	ALTRIA GROUP INC COM MO	MO	180,000	$8.2m0.29%	0.29%	Unchanged
66	DOMINION ENERGY INC COM D	D	156,326	$8.1m0.29%	0.29%	Added +12.1k	+12,124 8.4%
67	WASTE MGMT INC DEL COM WM	WM	45,366	$7.9m0.28%	0.28%	Added +1.7k	+1,662 3.8%
68	AMEREN CORP COM AEE	AEE	90,339	$7.4m0.26%	0.26%	Added +629	+629 0.7%
69	CENTERPOINT ENERGY INC COM CNP	CNP	251,078	$7.3m0.26%	0.26%	Reduced -72.6k	-72,592 -22.4%
70	CRACKER BARREL OLD CTRY STOR COM CBRL	CBRL	75,000	$7.0m0.25%	0.25%	Unchanged
71	AMERICAN TOWER CORP NEW COM AMT	AMT	35,846	$7.0m0.25%	0.25%	Added +1.7k	+1,718 5.0%
72	NEXTERA ENERGY INC COM NEE	NEE	88,096	$6.5m0.23%	0.23%	Added +923	+923 1.1%
73	HESS MIDSTREAM LP CL A SHS HESM	HESM	208,254	$6.4m0.23%	0.23%	Added +1.2k	+1,201 0.6%
74	VAIL RESORTS INC COM MTN	MTN	25,000	$6.3m0.22%	0.22%	Unchanged
75	GIBSON ENERGY INC COM COM COM		390,231	$6.1m0.22%	0.22%	Added +6.5k	+6,502 1.7%
76	ALLIANCEBERNSTEIN HLDG L P UNIT LTD PARTN AB	AB	190,000	$6.1m0.22%	0.22%	Unchanged
77	APPLE HOSPITALITY REIT INC COM NEW APLE	APLE	399,510	$6.0m0.21%	0.21%	Added +130	+130 0.0%
78	HERCULES CAPITAL INC COM HTGC	HTGC	400,000	$5.9m0.21%	0.21%	Added +100.0k	+100,000 33.3%
79	BCE INC COM NEW BCE	BCE	128,704	$5.9m0.21%	0.21%	Added +22.4k	+22,429 21.1%
80	HOLLY ENERGY PARTNERS L P COM UT LTD PTN HEP	HEP	294,788	$5.5m0.19%	0.19%	Reduced -3.6k	-3,631 -1.2%
81	NATIONAL GRID PLC SPONSORED ADR NE NGG	NGG	80,573	$5.4m0.19%	0.19%	Added +49.2k	+49,249 157.2%
82	BHP GROUP LTD SPONSORED ADS BHP	BHP	90,000	$5.4m0.19%	0.19%	Reduced -30.0k	-30,000 -25.0%
83	RALPH LAUREN CORP CL A RL	RL	42,400	$5.2m0.19%	0.19%	Unchanged
84	SPIRIT RLTY CAP INC NEW COM NEW SRC	SRC	130,000	$5.1m0.18%	0.18%	Unchanged
85	CROWN CASTLE INC COM CCI	CCI	44,771	$5.1m0.18%	0.18%	Reduced -33.8k	-33,792 -43.0%
86	CSX CORP COM CSX	CSX	142,619	$4.9m0.17%	0.17%	Added +5.5k	+5,457 4.0%
87	UNION PAC CORP COM UNP	UNP	23,371	$4.8m0.17%	0.17%	Added +912	+912 4.1%
88	EVERGY INC COM EVRG	EVRG	81,553	$4.8m0.17%	0.17%	Added +471	+471 0.6%
89	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	135,000	$4.5m0.16%	0.16%	Unchanged
90	CHENIERE ENERGY PARTNERS LP COM UNIT CQP	CQP	95,640	$4.4m0.16%	0.16%	Reduced -1.5k	-1,494 -1.5%
91	ONEMAIN HLDGS INC COM OMF	OMF	97,886	$4.3m0.15%	0.15%	Reduced -22.1k	-22,114 -18.4%
92	HCA HEALTHCARE INC COM HCA	HCA	13,052	$4.0m0.14%	0.14%	New
93	FORTIS INC COM FTS	FTS	90,708	$3.9m0.14%	0.14%	Added +1.5k	+1,489 1.7%
94	NOVO-NORDISK A S ADR NVO	NVO	24,000	$3.9m0.14%	0.14%	New
95	CONOCOPHILLIPS COM COP	COP	36,623	$3.8m0.14%	0.14%	Added +257	+257 0.7%
96	VALE S A SPONSORED ADS VALE	VALE	275,000	$3.7m0.13%	0.13%	Unchanged
97	NEXTERA ENERGY PARTNERS LP COM UNIT PART IN XIFR	XIFR	62,687	$3.7m0.13%	0.13%	Added +1.0k	+1,011 1.6%
98	OCCIDENTAL PETE CORP COM OXY	OXY	62,022	$3.6m0.13%	0.13%	Added +336	+336 0.5%
99	AES CORP COM AES	AES	170,918	$3.5m0.13%	0.13%	Reduced -35.5k	-35,540 -17.2%
100	GRUPO AEROPORTUARIO DEL CENT SPON ADR OMAB	OMAB	41,100	$3.5m0.12%	0.12%	Reduced -9.2k	-9,189 -18.3%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
EXTRA SPACE STORAGE INC EXR	EXR	300,305	$48.9m300.3k shares
KEYCORP KEY	KEY	2,578,876	$32.3m2.6m shares
EASTMAN CHEM CO EMN	EMN	372,642	$31.4m372.6k shares
DCP MIDSTREAM LP DCP	DCP	433,531	$18.1m433.5k shares
US BANCORP DEL USB	USB	150,967	$5.4m151.0k shares
UGI CORP NEW UGI	UGI	125,752	$4.4m125.8k shares
SHELL PLC SHEL	SHEL	70,000	$4.0m70.0k shares
ALLY FINL INC ALLY	ALLY	150,000	$3.8m150.0k shares
SBA COMMUNICATIONS CORP NEW SBAC	SBAC	7,155	$1.9m7.2k shares
EXPAND ENERGY CORPORATION EXE	EXE	19,812	$1.5m19.8k shares
FIRST FINL BANCORP OH FFBC	FFBC	17,883	$389.3k17.9k shares
MEDIFAST INC MED	MED	3,023	$313.4k3.0k shares
METHODE ELECTRS INC MEI	MEI	6,856	$300.8k6.9k shares
ASSURED GUARANTY LTD AGO	AGO	5,772	$290.2k5.8k shares
ISHARES TR HDV	HDV	2,544	$258.6k2.5k shares
JPMORGAN CHASE & CO AMJ	AMJ	10,303	$228.6k10.3k shares
KORN FERRY KFY	KFY	4,260	$220.4k4.3k shares