MILLER HOWARD INVESTMENTS INC /NY

Long Only Manager

MILLER HOWARD INVESTMENTS INC /NY is a Long Only Manager based in Kingston, NY led by Luan Elizabeth Jenifer, reporting $3.5B in AUM as of Q3 2025 with 35% Energy concentration and minimal technology exposure.

CEOLuan Elizabeth Jenifer

Portfolio Value: $3.3B
Positions: 133
Top Holding: MPLX at 3.47%
Last Reported: Q3 2025

Address45 Pine Grove Ave, Suite 301, Kingston, NY, 12401, United States

Top Holdings

Largest long holdings in MILLER HOWARD INVESTMENTS INC /NY's portfolio (27% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 MPLX MPLX	Oil & Gas Midstream Energy	$112.8M	3.47%	+$926.0K Bought	0.22% 2.3M shares	Q4 2014 Held for 10y 11m
2 Enterprise Products Partners EPD	Oil & Gas Midstream Energy	$96.3M	2.96%	-$8.7M Sold	0.14% 3.1M shares	≤ Q2 2013 Held for 12y 5m+
3 Johnson & Johnson JNJ	Drug Manufacturers - General Healthcare	$96.3M	2.96%	+$224.9K Bought	0.02% 519.2K shares	Q4 2021 Held for 3y 11m
4 AbbVie ABBV	Drug Manufacturers - General Healthcare	$94.2M	2.90%	+$233.6K Bought	0.02% 406.7K shares	Q2 2019 Held for 6y 5m
5 Energy Transfer ET	Oil & Gas Midstream Energy	$91.8M	2.82%	+$2.3M Bought	0.16% 5.4M shares	Q4 2016 Held for 8y 11m
6 Old Republic International ORI	Insurance - Diversified Financial Services	$85.9M	2.64%	+$88.5K Bought	0.81% 2.0M shares	Q1 2018 Held for 7y 8m
7 Cisco Systems, Inc. CSCO	Communication Equipment Technology	$85.5M	2.63%	+$69.0K Bought	0.03% 1.3M shares	Q4 2022 Held for 2y 11m
8 Gilead Sciences GILD	Drug Manufacturers - General Healthcare	$73.6M	2.26%	-$59.9K Sold	0.05% 663.2K shares	Q2 2019 Held for 6y 5m
9 GlaxoSmithKline GSK	Unknown Unknown	$71.7M	2.21%	+$77.5K Bought	— 1.7M shares	Q4 2024 Held for 11 months
10 State Street STT	Asset Management Financial Services	$70.4M	2.17%	+$232.7K Bought	0.21% 606.9K shares	Q1 2025 Held for 8 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in MILLER HOWARD INVESTMENTS INC /NY's latest filing

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Market Value

$3.3B

Prior: $3.1B

Q/Q Change

+3.99%

+$124.7M

Net Flows % of MV

+0.149%

Turnover Ratio

4.01%

New Purchases

2 stocks

$59.8M

Added To

82 stocks

+$92.5M

Sold Out Of

7 stocks

$25.8M

Reduced Holdings

43 stocks

-$121.6M

Increased Positions

Position	Shares Δ	Change
1 Equity Lifestyle Properties ELS	New	0 → 658.5K +$40.0M
2 Hormel Foods HRL	New	0 → 801.3K +$19.8M
3 ConocoPhillips COP	+986.79%	56.2K → 611.2K +$52.5M
4 Utilities Select Sector SPDR Fund XLU	+110.59%	10.3K → 21.6K +$990.0K
5 Genesis Energy GEL	+37.81%	1.5M → 2.1M +$9.4M

Decreased Positions

Position	Shares Δ	Change
1 Conagra Brands CAG	Sold	930.0K → 0 −$19.0M
2 Hess HES	Sold	31.7K → 0 −$4.4M
3 HF Sinclair DINO	Sold	29.2K → 0 −$1.2M
4 Pfizer PFE	Sold	16.2K → 0 −$392.5K
5 Target TGT	Sold	2.8K → 0 −$280.0K