ALPS Advisors/Alerian MLP ETF Disclose 15.74% Stake in SUN

Rhea-AI Filing Summary

ALPS Advisors, Inc. and the Alerian MLP ETF jointly report beneficial ownership of 24,089,484 common units of Sunoco LP, representing 15.74% of the outstanding class. Both filers state they have no sole voting or dispositive power and hold the position through shared voting and dispositive power. AAI explains it acts as investment adviser to registered funds and disclaims beneficial ownership of the securities it advises; the units are owned by the funds, including the Alerian MLP ETF. The filing certifies the holdings were acquired in the ordinary course of business and not to influence control of the issuer. The filing is signed by the Chief Compliance Officer on 10/01/2025.

Positive

• Significant stake disclosed: 24,089,484 units (15.74%) provides transparency to the market
• Clear adviser disclosure: ALPS Advisors states funds own the securities and disclaims beneficial ownership
• Filing certified: Signed by Chief Compliance Officer on 10/01/2025, meeting procedural requirements

Negative

• Shared control only: Filers report no sole voting or dispositive power, limiting direct influence
• Concentration risk: A 15.74% position held by funds could shift materially on rebalancing, affecting ownership structure

Insights

Institutional Ownership Analyst

A non-controlling, sizable stake held via funds; adviser role noted.

The filing discloses a 15.74% stake held in shared capacity, which is large enough to be material to ownership statistics but is reported as fund-owned assets rather than direct proprietary ownership by the adviser. This structure means voting and disposition are exercised on behalf of fund shareholders, not the adviser as a principal.

Key dependencies include fund investment mandates and rebalancing activity that could change the percentage; monitor holdings reports and periodic filings for changes within the next quarter.

Compliance & Regulatory Specialist

Filing follows passive investor disclosure rules and includes required certification.

The statement is filed under Schedule 13G terms for passive investors and includes the certification that the securities were acquired in the ordinary course and not to influence control. The adviser expressly disclaims beneficial ownership consistent with fund advisory relationships.

Watch for any amendment or shift to Schedule 13D language if the nature of holdings or voting intent changes; such a change would need prompt disclosure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Sunoco LP

(Name of Issuer)

Common Units Representing Limited Partner Interests

(Title of Class of Securities)

86765K109

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 86765K109

1

Names of Reporting Persons

Alerian MLP ETF

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 24,089,484.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,089,484.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,089,484.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.74 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

CUSIP No. 86765K109

1

Names of Reporting Persons

ALPS Advisors, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

COLORADO

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 24,089,480.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,089,484.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,089,484.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.74 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sunoco LP
(b)	Address of issuer's principal executive offices: 8111 Westchester Dr, Suite 400, Dallas, TX, 75225
Item 2.
(a)	Name of person filing: (1) ALPS Advisors, Inc. (2) Alerian MLP ETF
(b)	Address or principal business office or, if none, residence: (1) ALPS Advisors, Inc.: 1290 Broadway, Suite 1000, Denver, CO, 80203 (2) Alerian MLP ETF: 1290 Broadway, Suite 1000, Denver, CO, 80203
(c)	Citizenship: (1) ALPS Advisors, Inc.: Colorado (2) Alerian MLP ETF: Delaware
(d)	Title of class of securities: Common Units Representing Limited Partner Interests
(e)	CUSIP No.: 86765K109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: (1) ALPS Advisors, Inc.: 24089484 (2) Alerian MLP ETF: 24089484
(b)	Percent of class: (1) ALPS Advisors, Inc.: 15.74% (2) Alerian MLP ETF: 15.74%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: (1) ALPS Advisors, Inc.: 24089484 (2) Alerian MLP ETF: 24089484
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: (1) ALPS Advisors, Inc.: 24089484 (2) Alerian MLP ETF: 24089484
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. ALPS Advisors, Inc. ("AAI"), an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to investment companies registered under the Investment Company Act of 1940 (collectively referred to as the "Funds"). In its role as investment advisor, AAI has voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. AAI disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934. Alerian MLP ETF is an investment company registered under the Investment Company Act of 1940 and is one of the Funds to which AAI provides investment advice.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Alerian MLP ETF

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	10/01/2025

ALPS Advisors, Inc.

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	10/01/2025

Comments accompanying signature: After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FAQ

What percentage of Sunoco LP (SUN) is reported in this Schedule 13G/A?

The filing reports an aggregate ownership of 15.74% of the common units.

How many Sunoco LP units does Alerian MLP ETF/ALPS Advisors report owning?

The reported amount is 24,089,484 common units.

Does ALPS Advisors claim sole voting or dispositive power over the SUN units?

No; the filing states 0 shares with sole voting or dispositive power and all reported shares are held with shared voting and dispositive power.

Was the Schedule 13G/A certified and who signed it?

Yes; it was signed and certified by Matthew Sutula, Chief Compliance Officer on 10/01/2025.

Is the stake held for the purpose of influencing control of Sunoco LP?

The filing certifies the securities were acquired and are held in the ordinary course of business and not to change or influence control.