OKE

OKE

OKE

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Sep 30, 2023	Andrew Hill Investment Advisors, Inc.	-	-	CARR, DE, EQT, NVDA, OKE	-			View
2025 Q2	Jul 22, 2025	Miller Howard Investments Infrastructure	-	-	AES, CEG, CMS, CSX, NG/ LN, OKE, PPL, TMUS, TPGP, WCN, WMB, XEL	cash flow, Electrification, inflation protection, infrastructure, regulated assets	The commentary highlights infrastructure equities as long-duration assets benefiting from secular investment cycles in energy transition, electrification, and grid modernization. Management notes that regulated assets and contracted cash flows offer inflation protection and downside resilience despite short-term rate volatility. Infrastructure is positioned as a hybrid growth-and-income theme with improving visibility into long-term returns.		View
2025 Q3	Oct 19, 2025	Miller Howard Investments Infrastructure	3.0%	-	AMT, CCI, CMCSA, ENB CN, ETR, KMI, OKE, PPL, SRE, TRP CN, UPS	AI, dividends, energy, infrastructure, Utilities	Infrastructure assets gained from AI-related data center expansion and natural gas project growth. Utilities and midstream firms benefit from AI-driven energy consumption and capital projects, while cell towers underperformed amid slowing growth. The portfolio remains positioned for stable income and dividend growth from regulated assets.	PPL SRE ETR ENB CN CCI	View
2025 Q4	Jan 24, 2026	Miller Howard North American Energy Fund	1.0%	6.1%	CHRD, CNQ, CVE, CVX, EQT, GPOR, HES, LBRT, MPC, OKE, OXY, PBA, PSX, RRC, SM, SU, VLO, XOM	Data centers, dividends, energy, Natural Gas, North America, oil, Refiners	Pressure pumpers are seeing growing interest in supplying power to data centers under long-term contractual arrangements. Mobile generation equipment can be deployed within weeks at competitive efficiency levels. Liberty Energy announced a positive 1GW data center power generation project by year-end 2027. Natural gas prices rallied sharply amid a cold start to winter in the US, supported by strong LNG exports and rising data center power demand. The portfolio reduced natural gas price exposure by selling EQT Corp and trimming Range Resources Corp. Oil prices drifted lower on a near-term supply glut and closed the quarter in the mid-$50/bbl range. Adjusted for inflation, prices are near century lows. At current prices, E&Ps are expected to further rein in production with US supply likely to decline in 2026. The portfolio increased Valero and Phillips 66 on strong refinery dynamics. Marathon Petroleum had a rare refinery earnings miss on operational items believed to be one-time, with favorable 2026 capex guidance. The portfolio currently offers an indicated yield of 3.2% that is well supported down to roughly $45/bbl oil, with potential for significantly larger variable capital returns at higher commodity prices. Suncor Energy raised its dividend 5.3% amid strong buybacks.		View
2025 Q4	Jan 20, 2026	Marram Investment Management	0.0%	4.0%	AVDX, BILL, FITB, FOUR, OKE, PAA, PAGP, PAY, PSFE, PYPL	Banking, biopharma, cash flow, energy, payments, value	Payment technology businesses experiencing disconnect between operating fundamentals and share price performance. Companies continue to compound value per share despite valuation compression and shareholder turnover. Manager rebalanced allocation by exiting some positions and concentrating in higher-conviction holdings at lower prices. Energy infrastructure companies with indispensable assets benefiting from geopolitical strife, inflation, and increased recognition of renewable energy limitations. MLPs remain cornerstone allocation with favorable industry demand dynamics, stable cash flows, conservative balance sheets, and inflation protection. Large regional banks purchased during March 2023 banking crisis at fire-sale prices have generated 30%+ IRR. Manager continues to view sector favorably for steady 10%+ annual profits but has prudently moderated exposure due to expanded valuations and gradually easing credit underwriting standards. Sector out of favor due to political factors leading to lower industry R&D spend. Manager believes society will continue to need new drugs and health innovations, expecting capital to return and R&D spend to reaccelerate. Initiated diversified basket allocation via ETFs and service-based businesses.		View
2024 Q2	Jun 30, 2024	Miller Howard Investments MLP Strategy	0.0%	0.0%	MPLX, OKE, PAGP	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 28, 2026	Fund Letters	Vivian Y. Chen	ONEOK, Inc.	Energy	Midstream Energy	Bull	New York Stock Exchange	cashflow, Distributions, Energyinfrastructure, inflation, midstream	View Pitch
Jan 23, 2026	Twitter / X	@Suicide95518428	ONEOK, Inc.	Energy	Oil & Gas Storage & Transportation	Bear	New York Stock Exchange	CapEx, Debt Ebitda, EBITDA, midstream, Oke, Photonics, Projects, Run Rate	View Pitch
Dec 4, 2025	Seeking Alpha	Seeking Alpha	ONEOK, Inc.		Oil & Gas Midstream	Bull		AI boom, data center projects, energy infrastructure, inflation-linked escalators, investment-grade balance sheet, midstream services, natural gas, ONEOK, Stable Cash Flow, stagflation resistance	View Pitch
Dec 1, 2025	Seeking Alpha	Seeking Alpha	ONEOK, Inc.		Oil & Gas Midstream	Neutral		Bakken, diversification, EBITDA guidance, growth potential, infrastructure, Mid-Continent, midstream, natural gas, NGL, ONEOK	View Pitch
Dec 1, 2025	Seeking Alpha	Seeking Alpha	ONEOK		Oil & Gas Midstream	Neutral		Bakken, diversification, EBITDA guidance, integrated infrastructure, long-term potential, Mid-Continent, midstream operations, natural gas, NGL pipelines, ONEOK	View Pitch
Oct 12, 2025	Substack	Pacific Northwest Edge	Oneok	Energy	Oil & Gas Midstream	Bull		capital-intensive, debt management, dividend yield, Export projects, Fixed-fee contracts, infrastructure, midstream energy, Natural gas liquids, Pipeline network, Scale economies	View Pitch
Aug 7, 2025	Seeking Alpha	Samuel Smith	ONEOK, Inc.	Energy	Oil & Gas Midstream	Bull	NYSE	—	View Pitch
Aug 7, 2025	Seeking Alpha	Gen Alpha	ONEOK, Inc.	Energy	Oil & Gas Midstream	Bull	NYSE	—	View Pitch

BSD Shareholders of OKE

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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