Alps Advisors Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Alps Advisors Inc. reported 1,019 stock positions worth $18.0 billion. Its top holding was Western Midstream Partners L (WES) at 7.6% of the portfolio, followed by Energy Transfer (ET, 7.4%) and Enterprise Products Partners (EPD, 7.4%). Compared with Q2 2025, it opened 154 new positions, sold out of 160, added to 438 and reduced 373. The biggest buy was First Majestic Silver (AG, shares +109%) and the biggest sale Enterprise Products Partners (EPD, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Denver, CO
- CIK
- 0001376113
- Portfolio Value
- $18.0B (Q3 2025)
- SEC Filing
- 0001398344-25-020370 ↗ filed Nov 5, 2025
Holdings Value
Holdings 1,019 stocks · $18.0B
| WES Western Midstream Partners L | 7.61% | 34,774,726 | $1.4B | Add +0.3% |
| ET Energy Transfer LP | 7.42% | 77,651,021 | $1.3B | Add +4.5% |
| EPD Enterprise Products Partners | 7.38% | 42,378,826 | $1.3B | Reduce -0.7% |
| MPLX MPLX LP | 7.35% | 26,409,654 | $1.3B | Add +1.3% |
| PAA Plains All Amer Pipeline LP | 7.23% | 76,066,823 | $1.3B | Add +2.2% |
| SUN Sunoco LP | 6.71% | 24,089,484 | $1.2B | Add +2.5% |
| HESM Hess Midstream LP Class A | 5.64% | 29,295,245 | $1.0B | Add +1.2% |
| CQP Cheniere Energy Partners LP | 2.70% | 9,001,996 | $484.5M | Add +2.4% |
| USAC USA Compression Partners LP | 2.29% | 17,105,738 | $410.5M | Add +9.6% |
| GEL Genesis Energy L.P. | 2.23% | 24,019,255 | $401.4M | Add +2.4% |
| CCJ Cameco Corp. | 1.82% | 3,903,882 | $327.4M | Reduce -9.5% |
| GLP Global Partners LP | 1.53% | 5,721,969 | $274.7M | Add +5.1% |
| SPH Suburban Propane Partners LP | 1.49% | 14,327,026 | $267.2M | Add +3.1% |
| UUUU Energy Fuels Inc. | 1.15% | 13,465,823 | $206.7M | Reduce -15.5% |
| UEC Uranium Energy Corp. | 1.11% | 15,008,540 | $200.2M | Reduce -6.3% |
| DKL Delek Logistics Partners LP | 1.10% | 4,323,382 | $196.9M | Add +2.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.90% | 493,802 | $162.1M | Reduce -0.9% |
| DNN Denison Mines Corp. | 0.83% | 53,892,197 | $148.2M | Reduce -10.2% |
| NXE Nexgen Energy Ltd. | 0.78% | 15,649,639 | $140.1M | Reduce -9.3% |
| IVV iShares Core S&P 500 ETF | 0.65% | 175,244 | $117.3M | Reduce -1.1% |
| BND Vanguard Total Bond Market | 0.50% | 1,214,759 | $90.3M | Add +0.6% |
| AG First Majestic Silver Corp. | 0.49% | 7,203,207 | $88.5M | Add +108.7% |
| NEM Newmont Corp. | 0.45% | 961,513 | $81.1M | Reduce -26.6% |
| VEA Vanguard Ftse Developed ETF | 0.45% | 1,350,916 | $80.9M | Add +0.1% |
| URG Ur-Energy Inc. | 0.39% | 39,200,846 | $70.2M | Add +1.6% |
| MSFT Microsoft Corp. | 0.35% | 121,252 | $62.8M | Reduce -8.4% |
| MCD McDonald's Corp. | 0.31% | 184,083 | $55.9M | Add +6.2% |
| AAPL Apple Inc. | 0.30% | 209,623 | $53.4M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 0.29% | 216,442 | $52.6M | Reduce -12.6% |
| KMI Kinder Morgan Inc. | 0.28% | 1,777,236 | $50.3M | Add +3.7% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.28% | 1,158,069 | $49.8M | Reduce -0.1% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.27% | 558,551 | $48.7M | Reduce -4.3% |
| XLV SS Health Care Select Sector | 0.27% | 345,603 | $48.1M | Reduce -2.8% |
| CSCO Cisco Systems Inc. | 0.27% | 701,209 | $48.0M | Reduce -15.3% |
| XLK SS Technology Select Sector | 0.27% | 170,113 | $47.9M | Reduce -13.2% |
| PSLV Sprott Physical Silver Trust | 0.27% | 3,052,702 | $47.9M | Add +118.8% |
| XLE SS Energy Select Sector | 0.27% | 536,033 | $47.9M | Add +1.2% |
| XLI SS Industrial Select Sector | 0.27% | 309,893 | $47.8M | Reduce -6.4% |
| XLRE SS Real Estate Select Sector | 0.27% | 1,133,764 | $47.8M | Add +0.6% |
| OKE Oneok Inc. | 0.27% | 654,162 | $47.7M | Add +16.9% |
| SWKS Skyworks Solutions Inc. | 0.26% | 612,982 | $47.2M | Add +79.5% |
| XLF SS Financial Select Sector | 0.26% | 874,624 | $47.1M | Reduce -6.5% |
| XLY SS Consumer Disc Select Sect | 0.26% | 196,573 | $47.1M | Reduce -12.1% |
| XLC SS Comm Select Sector SPDR | 0.26% | 397,340 | $47.0M | Reduce -13.3% |
| XLP SS Consumer Staples Sel Sect | 0.26% | 597,750 | $46.8M | Add +2.8% |
| XLB SS Materials Select Sector | 0.26% | 522,369 | $46.8M | Reduce -4.2% |
| CMCSA Comcast Corp. Class A | 0.25% | 1,421,810 | $44.7M | Add +1.7% |
| OEF iShares S&P 100 ETF | 0.25% | 133,572 | $44.5M | Reduce -0.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.25% | 173,545 | $44.1M | Add +0.5% |
| V Visa Inc. Class A | 0.24% | 126,996 | $43.4M | Add +1.2% |
| MA Mastercard Inc. Class A | 0.24% | 74,885 | $42.6M | Add +11.8% |
| HD Home Depot Inc. | 0.22% | 97,311 | $39.4M | Reduce -10.3% |
| JNJ Johnson & Johnson | 0.20% | 195,726 | $36.3M | Reduce -14.7% |
| VWO Vanguard Ftse Emerging Marke | 0.20% | 652,056 | $35.3M | Reduce -0.1% |
| EXK Endeavour Silver Corp. | 0.19% | 4,459,831 | $35.0M | Add +113.8% |
| VZ Verizon Communications Inc. | 0.19% | 762,083 | $33.5M | Add +8.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.18% | 115,431 | $32.6M | Reduce -0.9% |
| TMUS T-Mobile US Inc. | 0.18% | 133,987 | $32.1M | Reduce -5.3% |
| ACN Accenture PLC Class A | 0.17% | 125,182 | $30.9M | Add +87.9% |
| MO Altria Group Inc. | 0.17% | 465,456 | $30.7M | Reduce -7.2% |
| PAYX Paychex Inc. | 0.17% | 240,564 | $30.5M | Add +20.6% |
| LMT Lockheed Martin Corp. | 0.17% | 59,921 | $29.9M | Reduce -10.9% |
| STX Seagate Technology Holdings | 0.16% | 125,131 | $29.5M | Reduce -33.7% |
| BSV Vanguard Short-Term Bond ETF | 0.16% | 368,989 | $29.1M | Add +0.3% |
| WMB Williams Cos Inc. | 0.16% | 457,543 | $29.0M | Add +4.1% |
| PM Philip Morris International | 0.16% | 174,973 | $28.4M | Add +3.6% |
| ABBV Abbvie Inc. | 0.16% | 121,867 | $28.2M | Reduce -26.7% |
| PFE Pfizer Inc. | 0.16% | 1,099,603 | $28.0M | Add +13.2% |
| T AT&T Inc. | 0.15% | 983,243 | $27.8M | Reduce -12.6% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.15% | 270,047 | $27.7M | Reduce -11.6% |
| ES Eversource Energy | 0.15% | 386,853 | $27.5M | Add +5.4% |
| EVRG Evergy Inc. | 0.15% | 357,241 | $27.2M | Reduce -0.5% |
| FE Firstenergy Corp. | 0.15% | 580,136 | $26.6M | Reduce -2.2% |
| UPS United Parcel Service Class B | 0.15% | 315,823 | $26.4M | Add +14.4% |
| EXC Exelon Corp. | 0.15% | 585,599 | $26.4M | Add +5.8% |
| OMC Omnicom Group | 0.14% | 317,807 | $25.9M | Reduce -6.0% |
| D Dominion Energy Inc. | 0.14% | 423,086 | $25.9M | Reduce -1.9% |
| BMY Bristol-Myers Squibb Co. | 0.14% | 573,306 | $25.9M | Add +21.4% |
| IJH iShares Core S&P Midcap ETF | 0.14% | 395,112 | $25.8M | Add +1.0% |
| HMY Harmony Gold MNG-Spon ADR | 0.14% | 1,405,825 | $25.5M | Add +34.5% |
| PSX Phillips 66 | 0.14% | 187,558 | $25.5M | Reduce -2.5% |
| ABT Abbott Laboratories | 0.14% | 190,327 | $25.5M | Add +76.4% |
| XOM Exxon Mobil Corp. | 0.14% | 225,903 | $25.5M | Add +4.3% |
| USB US Bancorp | 0.14% | 524,529 | $25.4M | Reduce -8.3% |
| GIS General Mills Inc. | 0.14% | 501,189 | $25.3M | Add +10.8% |
| IBN Icici Bank Ltd.-Spon ADR | 0.14% | 835,000 | $25.2M | No change |
| F Ford Motor Co. filed as FORD MTR CO | 0.14% | 2,100,453 | $25.1M | Reduce -6.8% |
| RGLD Royal Gold Inc. | 0.14% | 124,996 | $25.1M | Add +28.0% |
| TFC Truist Financial Corp. | 0.14% | 542,736 | $24.8M | Reduce -10.0% |
| IP International Paper Co. | 0.14% | 533,447 | $24.8M | Add +4.2% |
| LUV Southwest Airlines Co. | 0.14% | 774,928 | $24.7M | Add +4.7% |
| CVS CVS Health Corp. | 0.14% | 327,214 | $24.7M | Reduce -6.1% |
| DTM DT Midstream Inc. | 0.14% | 217,327 | $24.6M | Add +1.4% |
| BBY Best Buy Co. Inc. | 0.14% | 323,335 | $24.5M | Reduce -4.2% |
| KHC The Kraft Heinz Co. | 0.14% | 938,913 | $24.4M | Add +4.2% |
| VTRS Viatris Inc. | 0.14% | 2,463,207 | $24.4M | Reduce -6.5% |
| CVX Chevron Corp. | 0.14% | 156,170 | $24.3M | Reduce -3.0% |
| AMCR Amcor PLC | 0.14% | 2,962,948 | $24.2M | Add +14.8% |
| TRGP Targa Resources Corp. | 0.13% | 143,904 | $24.1M | Add +5.5% |
| MRSH Marsh & McLennan Cos | 0.13% | 119,481 | $24.1M | Add +47.1% |
Portfolio Sells Q2 2025 → Q3 2025
| EPD Enterprise Products Partners | Reduce -0.7% | 7.38% | −0.25 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.13 |
| PREMIER INC-CLASS A | Sold out | 0.00% | −0.12 |
| MSM MSC Industrial Direct Co. Class A | Reduce -97.8% | 0.00% | −0.11 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.11 |
| G Genpact Ltd. | Reduce -97.5% | 0.00% | −0.11 |
| RNR Renaissancere Holdings Ltd. | Reduce -97.0% | 0.00% | −0.08 |
| RHI Robert Half Inc. | Sold out | 0.00% | −0.07 |
| CSCO Cisco Systems Inc. | Reduce -15.3% | 0.27% | −0.06 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -36.5% | 0.10% | −0.05 |
| OGN Organon & Co. | Sold out | 0.00% | −0.05 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −0.04 |
| BWA Borgwarner Inc. | Sold out | 0.00% | −0.04 |
| CTAS Cintas Corp. | Reduce -67.4% | 0.02% | −0.04 |
| VSH Vishay Intertechnology Inc. | Sold out | 0.00% | −0.04 |
| INGR Ingredion Inc. | Reduce -41.1% | 0.04% | −0.04 |
| PRGS Progress Software Corp. | Sold out | 0.00% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -18.6% | 0.08% | −0.04 |
| GL Globe Life Inc. | Sold out | 0.00% | −0.03 |
| VCTR Victory Capital Holding - A | Reduce -59.1% | 0.02% | −0.03 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.03 |
| T AT&T Inc. | Reduce -12.6% | 0.15% | −0.03 |
| HLNE Hamilton Lane Inc. Class A | Reduce -74.1% | 0.01% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -22.1% | 0.09% | −0.03 |
| SEIC Sei Investments Company | Reduce -14.5% | 0.11% | −0.03 |
| AVGO Broadcom Inc. | Reduce -93.8% | 0.00% | −0.03 |
| MSFT Microsoft Corp. | Reduce -8.4% | 0.35% | −0.03 |
| GRMN Garmin Ltd. | Sold out | 0.00% | −0.03 |
| ORCL Oracle Corp. | Reduce -57.4% | 0.03% | −0.03 |
| MKTX Marketaxess Holdings Inc. | Reduce -30.9% | 0.03% | −0.03 |
| CRI Carter's Inc. | Sold out | 0.00% | −0.03 |
| FCFS Firstcash Holdings Inc. | Reduce -47.9% | 0.04% | −0.03 |
| WMG Warner Music Group Corp. Class A | Sold out | 0.00% | −0.03 |
| EVR Evercore Inc. Class A | Reduce -56.3% | 0.03% | −0.03 |
| NI Nisource Inc. | Reduce -84.7% | 0.01% | −0.03 |
| AMSF Amerisafe Inc. | Sold out | 0.00% | −0.03 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.03 |
| PHIN Phinia Inc. | Sold out | 0.00% | −0.03 |
| EHC Encompass Health Corp. | Reduce -18.0% | 0.12% | −0.03 |
| OLED Universal Display Corp. | Sold out | 0.00% | −0.03 |
| CASY Casey's General Stores Inc. | Reduce -91.3% | 0.00% | −0.03 |
| RLI Rli Corp. | Reduce -25.1% | 0.05% | −0.03 |
| XLC SS Comm Select Sector SPDR | Reduce -13.3% | 0.26% | −0.03 |
| LLY Eli Lilly & Co. | Reduce -49.8% | 0.02% | −0.02 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.02 |
| UNH Unitedhealth Group Inc. | Reduce -53.8% | 0.02% | −0.02 |
| CCJ Cameco Corp. | Reduce -9.5% | 1.82% | −0.02 |
| CALM Cal-Maine Foods Inc. | Reduce -35.2% | 0.03% | −0.02 |
| TEL Te Connectivity PLC | Reduce -79.7% | 0.01% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AG First Majestic Silver Corp. | Add +108.7% | 0.49% | +0.33 |
| PSLV Sprott Physical Silver Trust | Add +118.8% | 0.27% | +0.17 |
| URG Ur-Energy Inc. | Add +1.6% | 0.39% | +0.16 |
| EXK Endeavour Silver Corp. | Add +113.8% | 0.19% | +0.14 |
| IPG Interpublic Group of Cos Inc. | New | 0.12% | +0.12 |
| SWKS Skyworks Solutions Inc. | Add +79.5% | 0.26% | +0.12 |
| PRI Primerica Inc. | New | 0.11% | +0.11 |
| RPRX Royalty Pharma PLC Class A | New | 0.11% | +0.11 |
| LKQ LKQ Corp. | New | 0.10% | +0.10 |
| USAC USA Compression Partners LP | Add +9.6% | 2.29% | +0.10 |
| MSA Msa Safety Inc. | New | 0.09% | +0.09 |
| ALSN Allison Transmission Holding | New | 0.08% | +0.08 |
| VG Venture Global Inc. Class A | New | 0.07% | +0.07 |
| KFY Korn Ferry | New | 0.06% | +0.06 |
| ESNT Essent Group Ltd. | Add +118.7% | 0.11% | +0.06 |
| SVM Silvercorp Metals Inc. | Add +111.9% | 0.09% | +0.06 |
| HMY Harmony Gold MNG-Spon ADR | Add +34.5% | 0.14% | +0.06 |
| ABT Abbott Laboratories | Add +76.4% | 0.14% | +0.06 |
| ACN Accenture PLC Class A | Add +87.9% | 0.17% | +0.06 |
| USAS Americas Gold and Silver Cor | Add +115.5% | 0.07% | +0.06 |
| VZLA Vizsla Silver Corp. | Add +113.1% | 0.08% | +0.05 |
| CDE Coeur Mining Inc. | Add +40.5% | 0.08% | +0.05 |
| NXST Nexstar Media Group Inc. | Add +2272.2% | 0.05% | +0.05 |
| NG Novagold Resources Inc. | Add +32.7% | 0.08% | +0.05 |
| DKL Delek Logistics Partners LP | Add +2.5% | 1.10% | +0.05 |
| WPM Wheaton Precious Metals Corp. | Add +99.6% | 0.09% | +0.05 |
| TJX TJX Companies Inc. | Add +47.4% | 0.13% | +0.05 |
| FHI Federated Hermes Inc. | Add +115.5% | 0.09% | +0.05 |
| CAG Conagra Brands Inc. | New | 0.04% | +0.04 |
| MTG Mgic Investment Corp. | Add +60.6% | 0.11% | +0.04 |
| RDN Radian Group Inc. | Add +57.3% | 0.12% | +0.04 |
| RGLD Royal Gold Inc. | Add +28.0% | 0.14% | +0.04 |
| MP MP Materials Corp. | Add +66.4% | 0.06% | +0.04 |
| TOL Toll Brothers Inc. | New | 0.04% | +0.04 |
| AWI Armstrong World Industries | Add +1317.0% | 0.04% | +0.04 |
| WH Wyndham Hotels & Resorts Inc. | Add +125.6% | 0.07% | +0.04 |
| GFI Gold Fields Ltd.-Spons ADR | Add +46.5% | 0.06% | +0.04 |
| AU Anglogold Ashanti PLC | Add +29.6% | 0.07% | +0.04 |
| GNTX Gentex Corp. | Add +16.2% | 0.12% | +0.04 |
| MC Moelis & Co. Class A | New | 0.03% | +0.03 |
| MSI Motorola Solutions Inc. | Add +180.3% | 0.05% | +0.03 |
| ALL Allstate Corp. | New | 0.03% | +0.03 |
| MRSH Marsh & McLennan Cos | Add +47.1% | 0.13% | +0.03 |
| ACT Enact Holdings Inc. | New | 0.03% | +0.03 |
| PAG Penske Automotive Group Inc. | New | 0.03% | +0.03 |
| WU Western Union Co. | Add +53.0% | 0.11% | +0.03 |
| SA Seabridge Gold Inc. | Add +6.3% | 0.07% | +0.03 |
| TAP Molson Coors Beverage Co. Class B | Add +1879.2% | 0.03% | +0.03 |
| NHC National Healthcare Corp. | Add +19.9% | 0.12% | +0.03 |
| LAZ Lazard Inc. | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,170 | $21.3B | ET, SUN, MPLX, EPD, WES |
| Q1 2026 | 1,037 | $21.3B | ET, EPD, PAA, SUN, WES |
| Q4 2025 | 1,008 | $17.2B | WES, ET, EPD, PAA, SUN |
| Q3 2025 | 1,019 | $18.0B | WES, ET, EPD, MPLX, PAA |
| Q2 2025 | 1,025 | $17.3B | PAA, ET, MPLX, WES, EPD |
| Q1 2025 | 990 | $17.2B | EPD, ET, WES, MPLX, PAA |
| Q4 2024 | 990 | $15.8B | ET, MPLX, EPD, WES, PAA |
| Q3 2024 | 993 | $14.9B | MPLX, ET, EPD, PAA, WES |
| Q2 2024 | 968 | $14.6B | ET, PAA, MPLX, EPD, WES |
| Q1 2024 | 973 | $14.1B | EPD, ET, PAA, WES, MPLX |