SCHEDULE 13G/A: ALPS Advisors and Alerian MLP ETF Update Significant Passive Stake in Genesis Energy LP

ALPS Advisors, Inc. and Alerian MLP ETF have updated their beneficial ownership in Genesis Energy LP, reporting a combined significant passive stake as of December 31, 2024.

Summary

• ALPS Advisors, Inc. and Alerian MLP ETF filed an Amendment No. 11 to Schedule 13G regarding their beneficial ownership of Genesis Energy LP's Common Units Representing Limited Partner Interests.
• As of December 31, 2024, ALPS Advisors, Inc. beneficially owned 20,597,208 common units, representing 16.82% of the class.
• Alerian MLP ETF beneficially owned 20,487,154 common units, representing 16.73% of the class.
• Both reporting persons exercise shared voting power and shared dispositive power over their respective holdings.
• ALPS Advisors, Inc. serves as an investment adviser to Alerian MLP ETF and other investment companies, disclaiming beneficial ownership as the securities are ultimately owned by the Funds.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Genesis Energy LP.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of significant passive ownership, which is generally a positive sign of institutional interest, but it contains no new operational or financial information about the company itself.

Positives

• Significant institutional ownership by ALPS Advisors, Inc. and Alerian MLP ETF, indicating continued institutional interest in Genesis Energy LP.
• The filing confirms a passive investment intent, suggesting no immediate disruptive corporate actions from these large holders.

Future Outlook

This Schedule 13G filing does not contain forward-looking statements or guidance regarding Genesis Energy LP's future performance or operations, as its sole purpose is to disclose beneficial ownership.

Management Comments

• ALPS Advisors, Inc. ("AAI"), an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to investment companies registered under the Investment Company Act of 1940 (collectively referred to as the "Funds").
• In its role as investment advisor, AAI has voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. AAI disclaims beneficial ownership of such securities.
• The filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934.
• Alerian MLP ETF is an investment company registered under the Investment Company Act of 1940 and is one of the Funds to which AAI provides investment advice.
• I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

This filing reflects a significant passive investment by specialized MLP-focused funds in Genesis Energy LP, an entity operating in the energy sector. Such large institutional holdings are common for established midstream energy companies, indicating their inclusion in relevant investment vehicles like MLP ETFs.

Comparison to Industry Standards

• This document is a standard regulatory filing for beneficial ownership disclosure and does not provide financial or operational results for comparison to industry standards or specific comparable companies. It only details the ownership stake of two investment entities in Genesis Energy LP.

Stakeholder Impact

• Shareholders: Provides transparency on significant institutional holders and their passive investment intent.

Key Dates

Keywords

Genesis Energy LP, Common Units, Limited Partner Interests, Schedule 13G, Beneficial Ownership, ALPS Advisors, Alerian MLP ETF, Investment Adviser, MLP, Energy Sector, Institutional Ownership