MILLER HOWARD INVESTMENTS INC /NY

Miller Howard Investments is an investment management firm based out of Wood Stock, New York. The company founded in 1984 as an institutional research firm providing quantitative and technical research, and the firm would begin managing its first utilities portfolio in 1991 after its research revealed the “income-generating, wealth-building potential of dividends over the long term.” Miller Howard Investments continued to grow and expand since then, launching its Income-Equity Strategy in 1997 and developing various disciplined investment strategies. The company is currently headed by founder and CIO Lowell G. Miller and has 59 employees of which 7 are investment professionals. Miller Howard Investments conducts its research in house to make its investments, utilizing quantitative, fundamental, and technical methods and a bottom up investment approach. The company invests most heavily in the energy sector, which alone makes up almost half of its total asset allocations, and also invests in the utilities and telecommunications, health care, information technology, and materials sectors, among others to a lesser degree, in order of decreasing allocation. Miller Howard Investments currently holds almost $9 billion in total assets under management spread across 5,500 accounts, all of which are discretionary accounts except for 20, which only makes up approximately $300 million in assets. Both of the company’s total number of accounts held and total assets under management have been increasing in recent years with its held accounts growing from under 2,000 five years ago to well over twice that amount today and its total managed assets growing from under $900 million to 10 times that amount today. Miller Howard Investments mainly caters to individuals and other client types, each making up over a third of its client base. The company currently offers a variety of strategies including its Income-Equity, MLP, Miller Howard Infrastructure, Miller Howard Utilities Plus, and Rising Dividend Plus strategies.