What is the 13F Pro Quality Score for AM?

13F Pro ranks Antero Midstream Corp (AM) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View AM's current score at https://13fpro.ai/research/AM (free sign-up required for the full ranking).

Which hedge funds own the most AM stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of AM include BlackRock,, Invesco Ltd., VANGUARD PORTFOLIO MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/AM as soon as new 13F filings post.

Where does 13F Pro source AM data?

All Antero Midstream Corp fundamentals and ownership data come directly from SEC EDGAR. Antero Midstream Corp files with the SEC under CIK 1623925. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is AM in?

Antero Midstream Corp (AM) is classified in the Energy sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/energy.

What drives AM's revenue?

Per Antero Midstream Corp's latest 10-Q filed with the SEC on 2026-04-29, the biggest revenue drivers are: Gathering and Processing ($249.9M, +9% YoY); Water Handling ($64.3M, +3% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/AM.

What are AM's largest expenses?

Antero Midstream Corp's latest 10-Q reports these as the largest expense items: Direct Operating ($70.7M, +24% YoY); Depreciation ($34.6M, +6% YoY); Interest Expense, Net ($54.0M, +12% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is AM research updated on 13F Pro?

AM's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Antero Midstream Corp(AM)Stock Analysis

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13F Pro Quality Score

71.6/100

Rank #254 of 2,879 stocksTOP 10%

View Energy peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

56.1/100

Profitability

94.0/100

Balance Sheet

82.2/100

Earnings Quality

59.3/100

Free Cash Flow

94.9/100

Institutional Flow

52.4/100

Revenue Scale

52.9/100

Dilution Risk

29.5/100

AM Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Antero Midstream Corp (AM), a Energy sector company. 13F Pro's AI-powered ranking engine scores AM at 71.6/100 on a 32-signal composite quality model, placing it at rank #254 of 2,879 stocks — the top 10% of the AI-ranked universe. AM scores in the top quartile across free cash flow (94.9), profitability (94.0), balance sheet strength (82.2). Shareholder dilution risk is elevated at 29.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Antero Midstream Corp reports quarterly revenue of $314.2M, net income of $118.3M, an operating margin of 60.0%. Top institutional holders of AM by reported 13-F value include BlackRock,, Invesco Ltd., VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. AM trades on the NYSE exchange and files with the SEC under CIK 1623925. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Antero Midstream Corp directly from SEC EDGAR. Antero Midstream Corp's 13F Pro composite quality score has ranged between 8 and 75 since 2021, currently 71.6 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

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Fun facts about Antero Midstream Corp

Quirks, history, and lore behind AM — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. midstream energy company · listed on the NYSE · headquartered in Denver, Colorado · structured as a C-corporation.
2
The Numbers
Generates roughly $1 billion in annual revenue and is known for paying out a high dividend yield — the kind income investors write love letters about.
3
The History
Spun out in 2019 from its parent upstream producer, it was purpose-built to own and operate gathering and processing infrastructure in Appalachia.
4
The Secret
Nearly all of its revenue comes from long-term, fixed-fee contracts with a single upstream customer — making it about as close to a toll booth as the energy sector gets.
5
The Lore
It operates exclusively in the Marcellus and Utica shale plays of West Virginia and Ohio — some of the most prolific natural gas acreage in North America.
6
The Giveaway
Its parent company shares the first word of its name — an Antero upstream sibling drills the gas, and this entity moves it — ticker AM, steady as a pipeline.

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What's Driving AM's Business? Latest 10-Q Breakdown

AI-extracted from Antero Midstream Corp's 10-Q filed 2026-04-29 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q1 revenue rose 8% to $314.2M on HG Acquisition integration and 14% gathering volume growth, while net income declined slightly to $118.3M due to $9M HG transaction costs and higher interest expense.

Biggest Revenue Drivers

Total revenue: $314.2M+8% YoY

Gathering and Processing$249.9M+9% YoY

Increased gathering volumes from HG Acquisition and 72 newly connected wells; on-pad compression cost-plus fees from HG; annual CPI-based rate adjustments of 1.5%.

Water Handling$64.3M+3% YoY

Other fluid handling services increased 61% in volume; fresh water delivery down 20% due to well completion timing; cost-plus 3% reimbursements from HG acreage.

Largest Expense Items

Direct Operating$70.7M+24% YoY

Increased gathering volumes and HG Acquisition integration; wastewater trucking, disposal and blending costs from water handling.

Depreciation$34.6M+6% YoY

Incremental depreciation from HG gathering and water pipelines acquired in Q1 2026, partially offset by Utica Shale divestiture.

Interest Expense, Net$54.0M+12% YoY

Issuance of 2033 and 2034 senior notes in late 2025 partially offset by 2027 notes redemption and lower Credit Facility borrowings.

General and Administrative (ex. equity comp.)$11.8MFlat YoY

Costs charged by Antero Resources for payroll, legal, accounting and facilities unchanged at approximately $9M.

Margins: Operating margin expanded to 60% (operating income $188.6M / revenue $314.2M) from 61% in Q1 2025, driven by high fixed-fee contract structure and operating leverage. Water handling segment turned slightly negative (-$0.3M operating loss) due to $9M HG transaction costs and timing of fresh water volumes.

Watch Items from the Filing

HG Acquisition integration: $1.1B acquisition closed Feb 3, 2026; company still completing purchase price allocation within 12-month period; intends to modify water and compression service agreements with Antero Resources.
Credit Facility leverage: $442.4M drawn (35% of $1.25B commitment) as of March 31, 2026; company elected financial covenant option allowing 5.25x total leverage ratio; in compliance with all covenants.
Veolia litigation resolved favorably: Colorado Supreme Court oral arguments scheduled May 12, 2026 on petitioner's appeal of $280M+ judgment in AM's favor; District Court awarded $19M in attorneys' fees (Dec 2024).

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$314.2M

Net Income

Q1 2026

$118.3M

Free Cash Flow

Q1 2026

$238.6M

Operating Margin

Q1 2026

60.0%

ROIC

Q1 2026

3.4%

D/E Ratio

Q1 2026

1.89

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+7.4% YoY

$1.19BFY 2025

FY21 $898.2MFY22 $920.0MFY24 $1.11BFY25 $1.19B

Net Income

+4.2% YoY

$418.0MFY 2025

FY21 $332.0MFY22 $326.0MFY24 $401.0MFY25 $418.0M

Operating Income

-2.2% YoY

$644.7MFY 2025

FY21 $555.3MFY22 $539.5MFY24 $659.2MFY25 $644.7M

EPS (Diluted)

+3.6% YoY

$0.86FY 2025

FY21 $0.69FY22 $0.68FY24 $0.83FY25 $0.86

Total Assets

+2.1% YoY

$5.88BFY 2025

FY21 $5.54BFY22 $5.79BFY24 $5.76BFY25 $5.88B

Total Debt

+3.4% YoY

$3.22BFY 2025

FY21 $3.12BFY22 $3.36BFY24 $3.12BFY25 $3.22B

Op. Cash Flow

+10.5% YoY

$932.5MFY 2025

FY21 $709.8MFY22 $699.6MFY24 $844.0MFY25 $932.5M

Metric	FY 2025	FY 2024	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$1.19B +7.4%	$1.11B +20.2%	$920.0M +2.4%	$898.2M -0.3%	$900.7M +13.6%	$792.6M
Net Income	$418.0M +4.2%	$401.0M +23.0%	$326.0M -1.8%	$332.0M	—	—
Operating Income	$644.7M -2.2%	$659.2M +22.2%	$539.5M -2.9%	$555.3M +572.1%	$-117.6M +70.5%	$-398.5M
EPS (Diluted)	$0.86 +3.6%	$0.83 +22.1%	$0.68 -1.4%	$0.69 +365.4%	$-0.26 +67.5%	$-0.80
Total Assets	$5.88B +2.1%	$5.76B -0.5%	$5.79B +4.5%	$5.54B -1.2%	$5.61B -10.7%	$6.28B
Total Debt	$3.22B +3.4%	$3.12B -7.3%	$3.36B +7.6%	$3.12B +1.0%	$3.09B +6.9%	$2.89B
Operating Cash Flow	$932.5M +10.5%	$844.0M +20.6%	$699.6M -1.4%	$709.8M -5.8%	$753.4M +21.0%	$622.4M

AI Insight: AM Financial Trends

Revenue hit a record $314M in Q1 2026, but debt surged $443M sequentially to $3,666M — the sharpest single-quarter leverage increase in the dataset.

• Revenue grew steadily from $270M in Q2 2024 to $314M in Q1 2026, a 16% cumulative increase over seven quarters.

• Operating income rebounded to $189M in Q1 2026 after an anomalous drop to $101M in Q4 2025, suggesting Q4 2025 included a one-time charge.

• Total debt declined from $3,187M in Q2 2024 to $3,009M in Q3 2025, then reversed sharply to $3,666M in Q1 2026.

• Equity eroded from $2,127M in Q2 2024 to $1,936M in Q1 2026, a $191M decline across eight quarters.

⚠ Debt jumped $443M in a single quarter (Q4 2025 to Q1 2026) — largest spike in the dataset; source and purpose warrant close scrutiny.

⚠ Operating income fell to $101M in Q4 2025 vs. $180M–$189M in adjacent quarters; clarity on the driver is needed.

⚠ Operating CF remains healthy at $239M in Q1 2026, providing some offset to rising leverage if sustained.

AI Insight: AM Ratio Trends

Q4 2025 operating margin collapsed to 33.8% — likely a one-time charge — before snapping back to 60.0% in Q1 2026, but rising D/E to 1.89 warrants scrutiny.

• Operating margin expanded steadily from 56.6% in Q2 2024 to 61.2% in Q3 2025, a ~4.6pp improvement over five quarters.

• ROIC climbed from 11.5% in Q2 2024 to a peak of 14.6% in Q2 2025, signaling improving capital efficiency.

• Q4 2025 saw a sharp anomalous drop: operating margin fell to 33.8% and ROIC collapsed to 7.7%, both recovering in Q1 2026.

• D/E ratio declined from 1.50 in Q2 2024 to 1.45 in Q2 2025, then reversed, rising to 1.89 by Q1 2026.

⚠ D/E jumped from 1.45 in Q2 2025 to 1.89 in Q1 2026 — a 44bp deterioration in two quarters. Monitor debt drivers closely.

⚠ Q4 2025 margin/ROIC plunge appears one-off, but the nature of the charge has not been clarified in this data.

⚠ ROIC at 13.5% in Q1 2026 remains below the Q2 2025 peak of 14.6% — watch whether the uptrend resumes.

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Available Research

13F Pro tracks comprehensive data for Antero Midstream Corp including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of AM

BlackRock, Inc.
$846.3M37,117,209 sh
Invesco Ltd.
$491.5M21,556,903 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$417.2M18,299,973 sh
VANGUARD CAPITAL MANAGEMENT LLC
$337.7M14,809,259 sh
STATE STREET CORP
$264.3M11,593,199 sh
TORTOISE CAPITAL ADVISORS, L.L.C.
$254.4M11,159,394 sh
GEODE CAPITAL MANAGEMENT, LLC
$225.7M9,897,004 sh
Bank of New York Mellon Corp
$208.1M9,129,288 sh
DIMENSIONAL FUND ADVISORS LP
$205.6M9,016,816 sh
Neuberger Berman Group LLC
$165.8M7,272,626 sh

Fund	Value	Shares
BlackRock, Inc.	$846.3M	37,117,209
Invesco Ltd.	$491.5M	21,556,903
VANGUARD PORTFOLIO MANAGEMENT LLC	$417.2M	18,299,973
VANGUARD CAPITAL MANAGEMENT LLC	$337.7M	14,809,259
STATE STREET CORP	$264.3M	11,593,199
TORTOISE CAPITAL ADVISORS, L.L.C.	$254.4M	11,159,394
GEODE CAPITAL MANAGEMENT, LLC	$225.7M	9,897,004
Bank of New York Mellon Corp	$208.1M	9,129,288
DIMENSIONAL FUND ADVISORS LP	$205.6M	9,016,816
Neuberger Berman Group LLC	$165.8M	7,272,626

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Is AM a good stock to buy?

13F Pro's AI-powered analysis of Antero Midstream Corp (AM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for AM are available on the AM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own AM?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling AM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Antero Midstream Corp's investment landscape.