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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 22, 2025 | Miller Howard Investments Utilities Plus | - | - | AEP, CEG, CMS, EXC, PCG, PEG, PPL, SRE, VST | Data centers, dividends, electricity demand, infrastructure, Utilities | The letter highlights regulated utilities and independent power producers as beneficiaries of surging electricity demand from AI, data centers, and electrification trends. Management stresses that utilities offer lower volatility, growing dividends, and improving growth visibility as capital spending accelerates. The theme balances defensive characteristics with structural demand growth. | View | |
| 2023 Q4 | Dec 31, 2024 | Miller Howard Investments Utilities Plus | 0.0% | 0.0% | ETR, PEG, POR | - | View | ||
| 2025 Q3 | Oct 19, 2025 | Miller Howard Investments Utilities Plus | - | - | AEP, ATO, ETR, FTS CN, MDU, NRG, PEG, PPL, SRE, VST, XEL | Data centers, dividends, Electrification, Transmission, Utilities | Utilities benefited from electrification trends and surging data center power demand driven by AI infrastructure growth. Regulatory clarity and transmission investment are major growth catalysts, with utilities poised to expand capital expenditure and regulated returns. The strategy maintains a focus on dividend growth and infrastructure resilience. | View | |
| 2025 Q4 | Jan 24, 2026 | Miller Howard Investments Infrastructure | -2.9% | 8.8% | AMT, CEG, LNG, MPC, NEE, NGG, PEG, SRE, T, TMUS, TRGP, UPS, VZ, XEL | Data centers, dividends, energy, infrastructure, nuclear, Utilities | The US nuclear industry is undergoing its most significant shift in decades with rising electricity demand, policy support, and emerging technologies creating foundation for long-term capacity expansion. The manager views companies with existing nuclear assets and restart plans as ideal investments with attractive risk/reward profiles. Rising electricity demand driven by data centers is a key growth driver, with hyperscalers signing multiple power purchase agreements for nuclear offtake. Data centers have power demands ranging from 50 MW to 2 GW and are willing to sign agreements at premium prices for nuclear generation. The portfolio offers high dividend yield over 2.5x the S&P 500 Index with strong prospects for dividend growth and ample coverage. Eight holdings announced dividend increases this quarter with an average increase of 9.5%. Policy support through the Infrastructure Investment and Jobs Act and Inflation Reduction Act has provided financial support and tax credits for nuclear development, putting it on level ground with wind and solar while creating a floor for existing nuclear fleet. | View | |
| 2025 Q4 | Jan 24, 2026 | Miller Howard Investments Utilities Plus | -2.4% | 14.2% | AEP, BKH, CEG, DTE, MDU, NEE, PEG, PPL, SO, SRE, VST, XEL | Capital Expenditure, Data centers, dividends, earnings growth, Grid Infrastructure, nuclear, Power Markets, Utilities | US electricity demand continues to grow driven by data center proliferation. Utilities are deploying accelerating capital into grid infrastructure to bridge the gap between existing capacity and rising future demand. Companies like NextEra Energy and Black Hills are benefiting from their ability to serve data centers with diversified offerings. Utilities are deploying ever-accelerating amounts of capital into grid infrastructure to meet rising electricity demand. S&P 500 Utility Index capex forecasts for 2026 and 2027 increased by 16% and 15% respectively. Higher levels of capital deployed within the regulated utility framework are lifting utility growth profiles. This quarter, 10 of the 32 holdings announced dividend increases with an average increase of 15.3%. An enhanced earnings profile should strengthen utilities' ability to provide high and rising income to investors. The portfolio focuses on generating total returns with a high and rising stream of income. NextEra Energy signed a 25-year power purchase agreement with Google to restart the Duane Arnold nuclear plant. Constellation Energy benefited from a FERC ruling on co-location that was viewed as positive for Independent Power Producer development and from PJM Interconnection capacity auction pricing. Tightening power markets for independent power producers lifted utility growth profiles. Constellation Energy benefited from FERC ruling on co-location viewed as positive for IPP development. The company also benefited from PJM Interconnection capacity auction where pricing came in at the top of the collar range. | View | |
| 2024 Q3 | Sep 30, 2024 | The Sound Shore Fund | 6.7% | 21.1% | AVTR, Gold, NXPI, PEG | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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 |
|---|---|---|---|---|---|---|---|---|
| Irving Kahn | Kahn Brothers | $560.9M | $355,247 | 0.06% | 4,424 | +800 | +22.08% | 0.0008% |
| David Einhorn | Greenlight Capital Inc | $9.9B | $44.9M | 0.46% | 531,437 | +179,614 | +51.05% | 0.1130% |
| Paul Tudor Jones | Tudor Investment Corp | $53.4B | $3.3M | 0.01% | 40,530 | -370,522 | -90.14% | 0.0077% |
| Chris Rokos | Rokos Capital Management | $9.9B | $44.9M | 0.46% | 531,437 | +179,614 | +51.05% | 0.1130% |
| Ray Dalio | Bridgewater Associates | $27.4B | $9.8M | 0.04% | 122,562 | +47,805 | +63.95% | 0.0233% |
| Dmitry Balyasny | Balyasny Asset Management | $76.6B | $28.4M | 0.04% | 353,536 | +345,986 | +4582.60% | 0.0673% |
| Israel Englander | Millennium Management LLC | $233.2B | $14.8M | 0.01% | 184,494 | -2,633,921 | -93.45% | 0.0351% |
| Terrence Murphy | Clearbridge Investments | $124.9B | $188.4M | 0.15% | 2,346,100 | -1,408,525 | -37.51% | 0.4468% |
| Cliff Asness | AQR Capital Management | $190.6B | $20.9M | 0.01% | 260,262 | +6,541 | +2.58% | 0.0496% |
| Richard Kayne & John Anderson | Kayne Anderson Rudnick Investment Management | $37.3B | $1.8M | 0.00% | 22,830 | -980 | -4.12% | 0.0043% |