Magnolia is and will always be my favorite film, the most important piece of work to me personally in any medium, because of the time it came along in my life and the impact it had on me creatively and just like as a person. And it still majorly holds up. So it's weird to not put it at the top. But I'm basing this list on a gut-instinct What are the best Paul Thomas Anderson movies? The top 5 are all straight up masterpieces, which means they move around in my rankings a lot, but here's where they stand today.
The Master
There Will Be Blood
Phantom Thread
Magnolia
Boogie Nights
Punch Drunk Love
Sydney
Inherent Vice