NPORT-EX 2 mh-hie.htm PART F

Miller/Howard High Income Equity Fund
            
SCHEDULE OF INVESTMENTS
            
July 31, 2023 (unaudited)
            
             
Mutual Funds - 4.5%
  
Shares
    
Fair Value
  
Business Credit Institutions - 3.2%
            
Hercules Capital, Inc. (b)
    
400,000
    
$
6,708,000
  
                 
Investing - 1.3%
                
Main Street Capital Corp. (b)
    
62,000
      
2,620,740
  
                 
Total Mutual Funds (Cost $7,375,668)
            
9,328,740
  
                 
Common Stock - 72.0%
                
                 
Activities Related to Credit Intermediation - 1.0%
                
Western Union Co.
    
175,000
      
2,131,500
  
                 
Biological Products, except Diagnostic Substances - 1.8%
                
Gilead Sciences, Inc. (d)
    
50,000
      
3,807,000
  
                 
Crude Petroleum - 4.7%
                
EOG Resources, Inc.
    
36,000
      
4,771,080
  
Pioneer Natural Resources Co.
    
22,000
      
4,964,740
  
             
9,735,820
  
                 
Cut and Sew Apparel Manufacturing - 2.7%
                
Ralph Lauren Corp.
    
42,400
      
5,568,392
  
                 
Eating Places - 3.4%
                
Cracker Barrel Old Country Store, Inc. (b)
    
75,000
      
6,990,000
  
                 
Electric Power Generation, Transmission and Distribution - 4.8%
                
Exelon Corp. (c)
    
130,000
      
5,441,800
  
Portland General Electric Co. (b)
    
94,400
      
4,500,048
  
             
9,941,848
  
                 
Electric Services - 2.6%
                
Dominion Energy, Inc.
    
100,000
      
5,355,000
  
                 
Fruit and Vegetable Preserving and Specialty Food Manufacturing - 3.5%
                
Conagra Brands, Inc. (b)(c)
    
225,000
      
7,382,250
  
                 
Grain and Oilseed Milling - 1.6%
                
Ingredion, Inc. (b)
    
30,000
      
3,337,800
  
                 
Metal Ore Mining - 1.9%
                
Vale SA ADR
    
275,000
      
4,023,250
  
                 
Nondepository Credit Intermediation - 1.8%
                
OneMain Holdings, Inc. (b)
    
84,000
      
3,820,320
  
                 
Oil and Gas Extraction - 7.2%
                
Canadian Natural Resources Ltd. ADR (c)
    
150,000
      
9,120,000
  
Phillips 66 (d)
    
54,000
      
6,023,700
  
             
15,143,700
  
                 
Other Miscellaneous Manufacturing - 2.2%
                
British American Tobacco Plc ADR (c)
    
135,000
      
4,546,800
  
                 
Petroleum Refining - 2.9%
                
TotalEnergies SE ADR
    
100,000
      
6,085,000
  
                 
Pharmaceutical and Medicine Manufacturing - 1.8%
                
Novo Nordisk A/S ADR
    
24,000
      
3,866,400
  
                 
Pharmaceutical Preparations - 1.6%
                
AbbVie, Inc. (d)
    
22,000
      
3,290,760
  
                 
Pipeline Transportation of Natural Gas - 7.1%
                
Antero Midstream Corp. (b)
    
250,000
      
2,985,000
  
Equitrans Midstream Corp. (b)
    
375,000
      
3,888,750
  
TC Energy Corp. ADR (c)
    
220,000
      
7,891,400
  
             
14,765,150
  
                 
Plastics Materials, Synthetic Resins, & Nonvulcanizable Elastomers - 3.3%
                
LyondellBasell Industries N.V. (Netherlands) ADR (d)
    
70,000
      
6,920,200
  
                 
Semiconductors & Related Devices - 3.5%
                
Texas Instruments, Inc. (c)
    
40,500
      
7,290,000
  
                 
Support Activities for Mining - 2.7%
                
BHP Group Ltd. ADR (b)
    
90,000
      
5,638,500
  
                 
Surety Insurance - 3.2%
                
Old Republic International Corp. (c)
    
240,000
      
6,616,800
  
                 
Tobacco Manufacturing - 3.9%
                
Altria Group, Inc. (c)
    
180,000
      
8,175,600
  
                 
Traveler Accommodation - 2.8%
                
Vail Resorts, Inc. (c)
    
25,000
      
5,887,250
  
                 
Total Common Stock (Cost $146,858,546)
            
150,319,340
  
                 
Master Limited Partnership - 15.5%
                
                 
Investment Advice - 3.1%
                
AllianceBernstein Holding LP (c)
    
204,000
      
6,566,760
  
                 
Natural Gas Transmission - 12.4%
                
Energy Transfer L.P. (d)
    
750,500
      
9,974,145
  
Enterprise Products Partners L.P. (d)
    
300,000
      
7,953,000
  
MPLX LP (c)
    
224,000
      
7,954,240
  
             
25,881,385
  
                 
Total Master Limited Partnership (Cost $21,912,428)
            
32,448,145
  
                 
Real Estate Investment Trusts (REITs) - 7.9%
                
                 
Apple Hospitality REIT, Inc. (b)(c)
    
380,000
      
5,890,000
  
Lamar Advertising Co. (d)
    
25,000
      
2,467,500
  
Sabra Health Care REIT, Inc. (c)
    
225,000
      
2,922,750
  
Spirit Realty Capital, Inc. (b)
    
130,000
      
5,242,900
  
                 
Total Real Estate Investment Trusts (REITs) (Cost $17,459,724)
            
16,523,150
  
                 
Short-Term Investments: 1.8%
                
Morgan Stanley Institutional Liquidity Fund - Treasury Portfolio, 5.10% (a)
    
3,802,660
      
3,802,660
  
Total Short-Term Investments (Cost $3,802,660)
            
3,802,660
  
                 
Investments Purchased with Proceeds from Securities Lending: 19.4%
                
Mount Vernon Liquid Assets Portfolio, LLC, 5.47% (a)
    
40,569,726
      
40,569,726
  
Total Investments Purchased with Proceeds from Securities Lending (Cost $40,569,726)
            
40,569,726
  
                 
Total Investments - 121.1% (cost $237,978,752)
            
252,991,761
  
Total Value of Options Written (Premiums received $180) - (0.0%)
            
(12
)
Other Assets and Liabilities - (21.1)%
            
(44,138,401
)
Total Net Assets Applicable to Common Stockholders - 100.0%
          
$
208,853,348
  

Note: Percentages indicated are based on the net assets of the Fund.
      
 
        
ADR
American Depository Receipt
      
(a)
Rate indicated is the current yield as of July 31, 2023.
      
(b)
All or a portion of this security is on loan.
      
(c)
All or a portion of this security has been pledged as collateral in connection with the Fund's Special Custody Account Agreement.
As of July 31, 2023, the total value of securites pledged as collateral for the Special Custody Account Agreement was $78,165,969.
(d)
All or a portion of the security represents collateral for written options. The value of the securities segregated as collateral for written
options is $38,459,105, which is 18.4% of total net assets.


Miller/Howard High Income Equity Fund
                           
SCHEDULE OF OPTIONS WRITTEN
                        
July 31, 2023
                          
(unaudited)
                          
                           
Options Written
Expiration Date
  
Strike Price
    
Contracts
    
Notional Amount
    
Fair Value
  
Call Options
                          
OneMain Holdings, Inc.
August 2023
  
$
50
      
2
    
$
9,096
    
$
(12
)
                               
(12
)
                                   
Total Value of Options Written (Premiums received $180)
                          
$
(12
)



At July 31, 2023, the Funds' assets carried at market value were classified as follows:
           
                         
High Income-Equity Fund
                        
                         
Investments in Securities (a)
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets
                        
Mutual Funds
  
$
9,328,740
    
$
-
    
$
-
    
$
9,328,740
  
Common Stock
    
150,319,340
      
-
      
-
      
150,319,340
  
Master Limited Partnerships
    
32,448,145
      
-
      
-
      
32,448,145
  
Real Estate Investment Trusts
    
16,523,150
      
-
      
-
      
16,523,150
  
Short-Term Investments (b)
    
3,802,660
      
-
      
-
      
3,802,660
  
Investments Purchased as
                                
    Securities Lending Collateral (c)
    
-
      
-
      
-
      
40,569,726
  
Total Investments in Securities
  
$
203,093,295
    
$
-
    
$
-
    
$
252,991,761
  
Liabilities
                                
Written Options
  
$
12
    
$
-
    
$
-
    
$
12
  
                                 
(a) All industry classifications are identified in the Schedule of Investments.
          
(b) Short-term Investment is a sweep investment for cash balances in the Fund at July 31, 2023.
  
(c) Certain investments are measured at fair value using the net asset value per share (or its
  
equivalent) have not been categorized in the fair value hierarchy in accordance with ASC 820. The
  
fair value amounts presented in the table are intended to permit reconciliation to the fair value
  
hierarchy to the amounts presented in the Statement of Assets and Liabilities.
          
                                 
The Fund did not hold any Level 2 or 3 securities during the period ended July 31, 2023.