Baird Investment Banking Pitch Book
ANTERO FAMILY STRUCTURAL ISSUES (CONT.)
Individual management ownership stakes further complicated the situation
AR TOP 10 HOLDERS
($ in millions)
Current
1 Warburg Pincus
2 SailingStone
3 The Baupost Group, LLC
4 The Vanguard Group, Inc.
5 Rady, Paul M.
11 Warren Jr., Glen C.
Current
1 Warburg Pincus
2 Rady, Paul M.
3 Yorktown Partners, LLC.
4 Warren Jr., Glen C.
5 Oppenheimer Funds, Inc.
AMGP TOP 10 HOLDERS
Current
1 AR Investments
2 Tortoise Capital
3 Goldman Sachs AM
$951
713
504
388
330
AM TOP 10 HOLDERS
ALPS Advisers, Inc.
203
49 Rady, Paul M.
57 Warren Jr., Glen C.
$926
336
261
185
123
$2,619
275
246
193
4
3
9/30/2017
1 Warburg Pincus
2 SailingStone
3 The Baupost Group, LLC
4 The Vanguard Group, Inc.
5 Rady, Paul M.
10 Warren Jr., Glen C.
9/30/2017
1 Warburg Pincus
2 Rady, Paul M.
3 Warren Jr., Glen C.
4 Yorktown Partners, LLC.
5 OppenheimerFunds, Inc.
9/30/2017
1 AR Investment
2 Tortoise Capital
3 Goldman Sachs AM
4 ALPS Advisers, Inc.
43 Rady, Paul M.
50 Warren Jr., Glen C.
$1,129
690
476
372
320
205
$1,128
441
306
239
124
$3,117
326
270
199
6
4
6/30/2017
1 Warburg Pincus
2 SailingStone
3 The Baupost Group, LLC
4 The Vanguard Group, Inc.
5 Rady, Paul M.
9 Warren Jr., Glen C.
6/30/2017
1 Warburg Pincus
2 Rady, Paul M.
3 Warren Jr., Glen C.
4 Yorktown Partners, LLC.
5 OppenheimerFunds, Inc.
6/30/2017
1 AR Investment
2 Goldman Sachs AM
3 Tortoise Capital
4 ALPS Advisers, Inc.
39 Rady, Paul M.
44 Warren Jr., Glen C.
$1,226
585
458
384
348
222
$1,211
474
328
257
132
$3,612
296
295
187
6
4
1 Warburg Pincus
2 SailingStone
3 The Vanguard Group, Inc.
4 Yorktown Partners, LLC.
5 Rady, Paul M.
9 Warren Jr., Glen C.
1
2
3
4
5
3/31/2017
Source: S&P Capital IQ as of most recent filings at each specified date. Current market prices as of March 16, 2018.
Note: Value represented as common stock equivalent shares held multiplied by the stock price at the specified date. Excludes the value of stock options.
(1) Represents a change of +616,976 shares since December 31, 2016.
(2) Represents a change of (55,356) shares since December 31, 2016
3/31/2017
3/31/2017
1 AR Investment
2 Goldman Sachs AM
3 Tortoise Capital
4 ALPS Advisers, Inc.
45 Rady, Paul M.
56 Warren Jr., Glen C.
$1,294
580
380
360
355
229
$3,610
314
288
180
4
1
3
1 Warburg Pincus
2 SailingStone
3 The Vanguard Group, Inc.
4 Yorktown Partners, LLC.
5 Rady, Paul M.
9 Warren Jr., Glen C.
3
Confidential
4
12/31/2016
S
12/31/2016
12/31/2016
BAIRD
1 AR Investment
2 Goldman Sachs AM
3 Tortoise Capital
4 Neuberger Berman
46 Rady, Paul M.
53 Warren Jr., Glen C.
$1,341
588
376
374
368
237
$3,362
300
261
160
3
2
Project Bronco | Page 17View entire presentation