SCHEDULE 13G/A: ALPS Advisors and Alerian MLP ETF Disclose Significant Passive Stakes in Western Midstream Partners LP

ALPS Advisors, Inc. and Alerian MLP ETF have disclosed their beneficial ownership of 8.89% and 8.82% respectively, of Western Midstream Partners LP common units as of March 31, 2025, held in the ordinary course of business.

Summary

• ALPS Advisors, Inc. reported beneficial ownership of 33,824,487 common units representing limited partner interests in Western Midstream Partners LP, which constitutes 8.89% of the class.
• Alerian MLP ETF reported beneficial ownership of 33,565,069 common units in Western Midstream Partners LP, representing 8.82% of the class.
• Both ALPS Advisors, Inc. and Alerian MLP ETF possess shared voting power and shared dispositive power over their respective reported holdings.
• ALPS Advisors, Inc. serves as an investment adviser to investment companies, including Alerian MLP ETF, and disclaims beneficial ownership of the securities, stating they are owned by the Funds.
• The reported securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Western Midstream Partners LP.

Sentiment

Score: 5

Explanation: The document is a routine Schedule 13G filing disclosing passive beneficial ownership, with no positive or negative implications regarding the issuer's performance or outlook.

Future Outlook

NA

Management Comments

• Matthew Sutula, Chief Compliance Officer for both ALPS Advisors, Inc. and Alerian MLP ETF, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing reflects a significant institutional investment in Western Midstream Partners LP, a Master Limited Partnership (MLP) operating in the midstream energy sector. The Alerian MLP ETF specifically focuses on investments in MLPs, indicating a continued institutional interest in this segment of the energy market.

Stakeholder Impact

• Increased transparency for shareholders regarding significant institutional ownership in Western Midstream Partners LP.

Key Dates

Keywords

Western Midstream Partners LP, WES, ALPS Advisors, Alerian MLP ETF, Schedule 13G, beneficial ownership, common units, MLP, midstream, investment adviser, ETF