SCHEDULE: ALPS Advisors, Alerian MLP ETF Update Plains All American Stake

ALPS Advisors, Inc. and Alerian MLP ETF reported a combined beneficial ownership of 10.82% in Plains All American Pipeline LP as of September 30, 2025.

Summary

• ALPS Advisors, Inc. and Alerian MLP ETF jointly reported beneficial ownership of 76,066,823 common units of Plains All American Pipeline LP.
• This represents 10.82% of the total class of common units outstanding.
• Both reporting persons hold shared voting and shared dispositive power over these units.
• ALPS Advisors, Inc. acts as an investment adviser to Alerian MLP ETF, an investment company, which is the ultimate owner of the securities.
• The filing is an Amendment No. 12 to a previously filed Schedule 13G, indicating a routine update to an existing significant stake.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership and does not contain operational or financial performance data that would indicate a positive or negative sentiment regarding the company's prospects.

Future Outlook

NA

Industry Context

Plains All American Pipeline LP operates in the midstream energy sector, primarily involved in crude oil and NGL transportation, storage, and marketing. Institutional ownership, such as that reported by ALPS Advisors and Alerian MLP ETF, is common for companies in this capital-intensive industry, reflecting long-term investment strategies in energy infrastructure.

Stakeholder Impact

• Shareholders: The disclosure of significant institutional ownership by ALPS Advisors, Inc. and Alerian MLP ETF may be viewed as a sign of continued institutional confidence in Plains All American Pipeline LP.

Key Dates

Keywords

Plains All American Pipeline LP, PAA, ALPS Advisors, Alerian MLP ETF, Schedule 13G, beneficial ownership, common units, limited partner interests, institutional ownership, midstream energy