Western Midstream Partners LP reported that ALPS Advisors, Inc. and Alerian MLP ETF together have beneficial ownership of a significant block of its common units representing limited partner interests as of 12/31/2025. ALPS Advisors, Inc., a Colorado-based investment adviser, is reported as having beneficial ownership of 35,074,357 common units, representing 8.6% of the class, through funds it advises. Alerian MLP ETF, a Delaware investment company advised by ALPS, is reported as beneficially owning 34,658,430 common units, or 8.49% of the class.
Both ALPS Advisors and Alerian MLP ETF report shared voting and dispositive power over their respective positions and no sole voting or dispositive power. The securities are stated to be held in the ordinary course of business and not for the purpose of changing or influencing control of Western Midstream Partners.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 8)
Western Midstream Partners LP
(Name of Issuer)
Common Units Representing Limited Partner Interests
(Title of Class of Securities)
958669103
(CUSIP Number)
12/31/2025
(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.
958669103
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
35,074,357.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
35,074,357.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
35,074,357.00
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)
8.6 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
958669103
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
34,658,430.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
34,658,430.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
34,658,430.00
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)
8.49 %
12
Type of Reporting Person (See Instructions)
IV
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Western Midstream Partners LP
(b)
Address of issuer's principal executive offices:
9950 Woodloch Forest Drive, Suite 2800, The Woodlands, TX, 77380-7046
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:
Common Units Representing Limited Partner Interests
(e)
CUSIP No.:
958669103
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).
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.
ALPS Advisors, Inc.
Signature:
/s/ Matthew Sutula
Name/Title:
Matthew Sutula, Chief Compliance Officer
Date:
01/06/2026
Alerian MLP ETF
Signature:
/s/ Matthew Sutula
Name/Title:
Matthew Sutula, Chief Compliance Officer
Date:
01/06/2026
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.
What percentage of Western Midstream Partners (WES) does ALPS Advisors, Inc. report owning?
ALPS Advisors, Inc. reports beneficial ownership of 35,074,357 common units of Western Midstream Partners LP, representing 8.6% of the outstanding class as of 12/31/2025.
How many Western Midstream Partners (WES) units does Alerian MLP ETF report holding?
Alerian MLP ETF reports beneficial ownership of 34,658,430 common units of Western Midstream Partners LP, representing 8.49% of the class as of 12/31/2025.
Do ALPS Advisors and Alerian MLP ETF control voting for their Western Midstream Partners (WES) units?
Both ALPS Advisors, Inc. and Alerian MLP ETF report shared voting power and shared dispositive power over their Western Midstream Partners units, with no sole voting or dispositive power.
Why does ALPS Advisors, Inc. disclaim beneficial ownership of Western Midstream Partners (WES) units?
ALPS Advisors, Inc. states that all reported securities are owned by the investment funds it advises. It may be deemed a beneficial owner due to its advisory role but disclaims beneficial ownership of the Western Midstream Partners units held by those funds, except for purposes of Section 13(d).
Is the Western Midstream Partners (WES) stake held to influence control of the company?
The reporting persons certify that the Western Midstream Partners securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control of the issuer.
Who signed the Schedule 13G/A related to Western Midstream Partners (WES)?
The statement was certified and signed by Matthew Sutula, Chief Compliance Officer, who attested that the information is true, complete and correct as of 01/06/2026.
