ALPS ADVISORS INC

2. Key Holdings

The portfolio is dominated by master limited partnerships (MLPs) and midstream energy infrastructure companies. The top five positions—WES, ET, EPD, MPLX, and PAA—are all prominent pipeline and logistics entities, with each holding representing between 7.2% and 7.6% of the total portfolio. This creates a very stable, income-focused core.

• Western Midstream Partners (WES) is the largest holding at $1.37B (7.61%), followed closely by Energy Transfer (ET) at $1.33B (7.42%) and Enterprise Products Partners (EP) at $1.33B (7.38%).
• The top 10 holdings are exclusively energy-related (specifically midstream and uranium), with the exception of a few ETFs and basic materials companies appearing further down the list.
• Notably, large-cap technology names like Microsoft (MSFT), Apple (AAPL), and Alphabet (GOOGL) are present but represent minor allocations, each comprising less than 0.35% of the portfolio.