EXC

EXC

EXC

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q1	Mar 31, 2025	Miller Howard Investments Infrastructure	-	-	AMT, ATO, AWK, CCI, CEG, CMCSA, CSX, EQIX, ETR, EXC, HCA, NI, SRE, T, TMUS, TRGP, UPS, WCN, WM, WMB	Data centers, Defensive, dividends, infrastructure, Telecom, Utilities, Waste management	Infrastructure sector outperformed S&P 500 by widest margin in 20 years, providing downside protection amid market uncertainty. Portfolio focuses on essential service providers with high barriers to entry, stable cash flows, and attractive risk-adjusted returns with strong up/down capture ratios.		View
2025 Q1	Mar 31, 2025	Miller Howard Investments Income-Equity Strategies	-	-	CMCSA, CMS, CNQ, CSCO, EIX, EPD, EWBC, EXC, GILD, JEF, JPM, KO, LAMR, NTR, ORI, RHI, RY, STAG, TTE, VICI	dividends, financials, income, low volatility, tariffs, Utilities, value	Miller/Howard focuses on high and rising dividend income with over 40% of holdings announcing dividend increases in Q1. The strategy seeks companies with demonstrated earnings power and attractive valuations that can pay good dividends without stretching payout ratios. Portfolio yields 3.8% with strong dividend coverage ratios.		View
2025 Q1	Mar 31, 2025	Miller Howard Investments Utilities Plus	-	-	AEE, AEP, ATO, AWK, CEG, CNP, EIX, ETR, EVRG, EXC, NGG, NI, PCG, SO, SRE, VST, XEL	Data centers, Defensive, dividends, infrastructure, regulation, Utilities	15 of 31 holdings announced dividend increases with an average increase of 5.4%. Portfolio transactions were focused on improving dividend and earnings growth profile, which historically leads to outperformance.		View
2025 Q1	Mar 31, 2025	RS Large Cap Val Strategy	1.6%	1.6%	ABBV, CBOE, CI, CRM, EXC, GOOGL, RRX, TEVA, XOM, ZBRA	large cap, Pharmaceuticals, ROIC, tariffs, value, volatility	The team continues to focus on value-oriented strategies, believing they are well-positioned in the current environment of elevated volatility. They seek companies with improving ROIC trading at deep discounts to intrinsic value, emphasizing that value stocks outperformed growth during the quarter's market decline.	ZBRA ABBV	View
2024 Q4	Dec 31, 2024	BNY Mellon Global Equity Income Fund	-5.4%	6.4%	1299.HK, AAPL, AMZN, AVGO, CME, CSCO, DPW.DE, EXC, FHN, GILD, GOOGL, IP, JCI, MDT, NVDA, PEP, SBUX, SNY, SYY, TSLA	dividends, financials, global, income, rates, technology, value	The fund maintains strict yield discipline and cannot hold mega-cap technology stocks due to their low yields. Income stock valuations remain compelling, with stocks offering above-average income rates trading at substantial discounts to low-income stocks. The strategy has zero weightings in the magnificent seven technology stocks and instead focuses on dividend-paying sectors.		View
2024 Q3	Sep 30, 2024	Fidelity Dividend Growth Fund	4.4%	25.2%	AAPL, ABBV, ALSN, AMZN, APO, AVGO, BA, BN, BRK-A, CMCSA, CVX, EPD, ET, EXC, GEV, GOOGL, HD, JNJ, JPM, META, MRVL, MSFT, MU, NVDA, QCOM, TSLA, VST, XOM	aerospace, AI, dividends, energy, large cap, technology, Utilities, value	The fund sees explosive growth of AI as a key advantage in semiconductors and semiconductor equipment. AI's influence was reflected in the roughly 19% advance for the utilities sector, which benefited from its key role in providing electricity needed to power massive data centers used for AI. The fund maintains notable overweights in AI-related semiconductor names like Qualcomm, Marvell Technology and Micron Technology.		View
2024 Q1	Mar 31, 2024	Miller Howard Investments Infrastructure	0.0%	0.0%	AAPL, AMZN, CMCSA, CMS, CNQ, CSCO, EOG, EPD, EWBC, EXC, GILD, GOOGL, IPG, JPM, KO, LAMR, META, MSFT, NTR, NVDA, ORI, STAG, TSLA, TTE, UPS	AI, dividends, energy, growth, income, infrastructure, Utilities, value	High-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. Recent underperformance driven by market concentration in mega-cap tech stocks with low dividend yields. Manager expects dividend investing revival as market concentration reverses.		View
2024 Q1	Mar 31, 2024	Miller Howard Investments Income-Equity Strategies	3.6%	0.0%	AAPL, AMZN, CMCSA, CMS, CNQ, CSCO, EOG, EPD, EWBC, EXC, GILD, GOOGL, IPG, JPM, KO, LAMR, META, MSFT, NTR, NVDA, ORI, STAG, TSLA, TTE, UPS	AI, dividends, energy, income, Market Concentration, Utilities, value, volatility	High-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. Recent underperformance is attributed to market concentration in mega-cap tech stocks with low dividend yields. The manager expects dividend stocks to resume outperformance when market concentration reverses.		View
2024 Q1	Mar 31, 2024	Miller Howard Investments MLP Strategy	0.0%	0.0%	AES, AM, ATO, BCE, CEG, CMCSA, CMS, CNP, CNQ, CSCO, CVX, DTE, EOG, EPD, EWBC, EXC, FTS, GILD, HESM, IPG, JPM, KMI, KO, LAMR, LBRT, LNG, MPC, NEE, NTR, OKE, ORI, PAGP, PCG, PEG, POR, SRE, STAG, TMUS, TRGP, TTE, UPS, VST, WM	dividends, energy, income, infrastructure, Midstream, Utilities, value	The letter extensively analyzes dividend investing, arguing that high-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. The manager believes dividend stocks are positioned for a revival as market concentration reverses.		View
2024 Q1	Mar 31, 2024	Miller Howard Investments Utilities Plus	0.0%	0.0%	AAPL, AES, AM, AMZN, ATO, BCE, CEG, CMCSA, CMS, CNP, CNQ, CSCO, CVX, DTE, EOG, EPD, EWBC, EXC, FTS, GILD, GOOGL, HESM, IPG, JNJ, JPM, KMI, KO, LAMR, LBRT, LNG, META, MPC, MSFT, NEE, NTAP, NTR, NVDA, OKE, ORCL, ORI, PAGP, PCG, PEG, POR, QCOM, SRE, STAG, TMUS, TRGP, TSLA, TTE, UPS, VST, WM	AI, dividends, energy, growth, Utilities, valuation	High-yield dividend stocks have historically outperformed the S&P 500 by 1.3% annually over 75 years with lower volatility. Recent underperformance is attributed to market concentration in mega-cap tech stocks with low dividend yields. The manager expects dividend stocks to resume outperformance when market concentration reverses.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of EXC

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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