Alps Advisors INC
Reported US equity positions for Q1 2026 — $21.3B across 1,059 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| ET Energy Transfer LP Common Units | $1.7B | 7.8% | 85,957,579 |
| EPD Enterprise Products Partners L.P. | $1.6B | 7.7% | 43,521,097 |
| PAA Plains All American Pipeline, L.P. - Common Units representing Limited… | $1.6B | 7.7% | 73,107,070 |
| SUN Sunoco LP Common Units representing limited partner interests | $1.6B | 7.5% | 24,671,391 |
| WES Western Midstream Partners, LP Common Units Representing Limited… | $1.6B | 7.5% | 38,637,354 |
| MPLX MPLX LP Common Units Representing Limited Partner Interests | $1.5B | 7.3% | 27,070,962 |
| HESM Hess Midstream LP Class A Representing Limited Partner Interests | $1.2B | 5.6% | 30,880,193 |
| CQP Cheniere Energy Partners, LP Common Units | $614.8M | 2.9% | 9,512,213 |
| USAC USA Compression Partners, LP Common Units Representing Limited Partner… | $517.2M | 2.4% | 19,072,413 |
| CCO Clear Channel Outdoor Holdings, Inc. | $471.4M | 2.2% | 4,339,902 |
| GEL Genesis Energy, L.P. Common Units | $462.3M | 2.2% | 25,925,546 |
| SPH Suburban Propane Partners, L.P. | $302.7M | 1.4% | 15,375,574 |
| NXE Nexgen Energy Ltd. | $284.1M | 1.3% | 24,495,378 |
| GLP Global Partners LP Common Units representing Limited Partner Interests | $254.5M | 1.2% | 6,043,985 |
| DKL Delek Logistics Partners, L.P. Common Units representing Limited… | $227.7M | 1.1% | 4,575,667 |
| AG First Majestic Silver Corp. Ordinary Shares (Canada) | $221.6M | 1.0% | 10,317,411 |
| DNN Denison Mines Corp Ordinary Shares (Canada) | $162.4M | 0.8% | 46,014,216 |
| VTI Vanguard Morningstar Total Stock Market ETF | $159.4M | 0.8% | 496,922 |
| EFR Eaton Vance Senior Floating-Rate Fund Common Shares of Beneficial… | $151.5M | 0.7% | 8,299,826 |
| PSLV Sprott Physical Silver Trust ETV | $150.1M | 0.7% | 6,152,759 |
| UEC Uranium Energy Corp. | $127.9M | 0.6% | 9,474,784 |
| IVV iShares Core S&P 500 ETF | $117.9M | 0.6% | 180,459 |
| FCX Freeport-McMoRan, Inc. | $95.0M | 0.4% | 1,616,439 |
| BND Vanguard Total Bond Market ETF | $82.6M | 0.4% | 1,121,934 |
| VEA Vanguard FTSE Developed Markets ETF | $74.2M | 0.3% | 1,158,201 |
| URG Ur Energy Inc Common Shares (Canada) | $72.9M | 0.3% | 48,902,191 |
| NEM Newmont Corporation | $62.1M | 0.3% | 573,583 |
| XLB State Street Materials Select Sector SPDR ETF | $61.6M | 0.3% | 1,232,826 |
| OKE ONEOK, Inc. | $60.5M | 0.3% | 668,972 |
| XLE State Street Energy Select Sector SPDR ETF | $59.8M | 0.3% | 976,586 |
| XLU State Street Utilities Select Sector SPDR ETF | $59.5M | 0.3% | 1,297,165 |
| XLY State Street Consumer Discretionary Select Sector SPDR ETF | $58.6M | 0.3% | 537,572 |
| XLV State Street Health Care Select Sector SPDR ETF | $58.4M | 0.3% | 398,570 |
| XLP State Street Consumer Staples Select Sector SPDR ETF | $58.4M | 0.3% | 712,504 |
| XLRE State Street Real Estate Select Sector SPDR ETF | $58.3M | 0.3% | 1,426,962 |
| XLF State Street Financial Select Sector SPDR ETF | $58.3M | 0.3% | 1,180,115 |
| KMI Kinder Morgan, Inc. | $58.0M | 0.3% | 1,729,166 |
| XLI State Street Industrial Select Sector SPDR ETF | $57.9M | 0.3% | 358,233 |
| FNDF Schwab Fundamental International Equity ETF | $57.6M | 0.3% | 1,177,789 |
| XLC State Street Communication Services Select Sector SPDR ETF | $57.2M | 0.3% | 516,116 |
| XLK State Street Technology Select Sector SPDR ETF | $56.9M | 0.3% | 428,104 |
| EVTR Eaton Vance Total Return Bond ETF | $51.6M | 0.2% | 1,017,240 |
| MRK Merck & Company, Inc. Common Stock (new) | $51.5M | 0.2% | 427,760 |
| G1151C101 Accenture PLC Ireland | $49.6M | 0.2% | 250,044 |
| SVM Silvercorp Metals Inc. | $48.0M | 0.2% | 4,470,157 |
| EXK Endeavour Silver Corporation Ordinary Shares (Canada) | $47.0M | 0.2% | 5,053,504 |
| JNJ Johnson & Johnson | $44.6M | 0.2% | 182,292 |
| GOOGL Alphabet Inc. | $44.3M | 0.2% | 153,960 |
| CMCSA Comcast Corporation | $43.3M | 0.2% | 1,507,462 |
| AAPL Apple Inc. | $42.4M | 0.2% | 167,117 |
| WPM Wheaton Precious Metals Corp Common Shares (Canada) | $42.1M | 0.2% | 321,496 |
| MSFT Microsoft Corporation | $42.0M | 0.2% | 113,492 |
| OEF iShares S&P 100 Fund | $41.8M | 0.2% | 131,442 |
| TECK Teck Resources Ltd Ordinary Shares | $41.3M | 0.2% | 797,676 |
| ALB Albemarle Corporation | $41.2M | 0.2% | 229,231 |
| CDE Coeur Mining, Inc. | $41.0M | 0.2% | 2,186,946 |
| TXN Texas Instruments Incorporated | $41.0M | 0.2% | 210,965 |
| VB Vanguard Morningstar Small-Cap ETF | $40.2M | 0.2% | 153,390 |
| WMB The Williams Companies, Inc. | $37.8M | 0.2% | 519,331 |
| USAS Americas Gold and Silver Corporation Common Shares, no par value | $35.9M | 0.2% | 6,884,982 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.