PLAINS GP HLDGS L P PAGP
LTD PARTNR INT A · Ltd Part · CUSIP 72651A207
- SectorEnergy
- IndustryPipe Lines (No Natural Gas)
- HeadquartersHouston, TX
- Websiteplainsallamerican.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($32.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.43. Options: 14 managers hold calls ($133.8m notional), 14 hold puts ($49.2m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 254 |
| Q4 2022 | 261 |
| Q1 2023 | 255 |
| Q2 2023 | 260 |
| Q3 2023 | 256 |
| Q4 2023 | 256 |
| Q1 2024 | 271 |
| Q2 2024 | 276 |
| Q3 2024 | 285 |
| Q4 2024 | 305 |
| Q1 2025 | 317 |
| Q2 2025 | 324 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 121 | 119 |
| Q4 2023 | 111 | 108 |
| Q1 2024 | 123 | 115 |
| Q2 2024 | 116 | 125 |
| Q3 2024 | 127 | 120 |
| Q4 2024 | 150 | 107 |
| Q1 2025 | 166 | 123 |
| Q2 2025 | 161 | 133 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $99.4m | $28.5m | 0.29 |
| Q4 2024 | $111.7m | $41.1m | 0.37 |
| Q1 2025 | $111.6m | $62.1m | 0.56 |
| Q2 2025 | $133.8m | $49.2m | 0.37 |
Biggest buyers
| Artemis Investment Management LLP | New | +3.1m |
| HRT FINANCIAL LP | Added | +373.6k |
| ROYAL BANK OF CANADA | Added | +354.9k |
| CITADEL ADVISORS LLC | Added | +265.5k |
| ING GROEP NV | New | +257.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +247.4k |
| Callodine Capital Management, LP | New | +240.0k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Added | +230.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +223.1k |
| Turtle Creek Wealth Advisors, LLC | Added | +202.6k |
Biggest sellers
| Clearbridge Investments, LLC | Reduced | -1.6m |
| UBS Group AG | Reduced | -1.4m |
| MORGAN STANLEY | Reduced | -1.2m |
| JPMORGAN CHASE & CO | Reduced | -991.7k |
| FMR LLC | Reduced | -896.4k |
| BlackRock, Inc. | Reduced | -850.0k |
| Aventail Capital Group, LP | Sold out | -680.7k |
| BANK OF AMERICA CORP /DE/ | Reduced | -645.0k |
| Pathstone Holdings, LLC | Reduced | -624.6k |
| WESTWOOD HOLDINGS GROUP INC | Reduced | -507.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $32.1m1.7m shares |
| JANE STREET GROUP, LLC | Added | $20.2m1.0m shares |
| PEAK6 LLC | Added | $19.4m1.0m shares |
| Walleye Trading LLC | Added | $18.4m944.8k shares |
| CITADEL ADVISORS LLC | Added | $17.4m895.1k shares |
| GROUP ONE TRADING LLC | Added | $10.5m540.0k shares |
| SIMPLEX TRADING, LLC | Added | $6.6m339.0k shares |
| Point72 Asset Management, L.P. | Added | $2.9m151.2k shares |
| IMC-Chicago, LLC | Added | $2.4m122.7k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.7m89.1k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $15.3m786.0k shares |
| PEAK6 LLC | Added | $9.7m501.6k shares |
| Walleye Trading LLC | Reduced | $6.7m342.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $5.0m254.8k shares |
| JANE STREET GROUP, LLC | Reduced | $4.9m250.5k shares |
| GROUP ONE TRADING LLC | Added | $2.9m151.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.6m80.3k shares |
| IMC-Chicago, LLC | Reduced | $695.6k35.8k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $674.2k34.7k shares |
| WOLVERINE TRADING, LLC | Reduced | $623.7k32.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
No one currently above 5% in the filings since 19 Dec 2024.
Fell to 5% or below in the last year: Energy Income Partners, LLC (4.5%, 2026-02-17), MASSACHUSETTS FINANCIAL SERVICES CO /MA/ (4.8%, 2026-01-28)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 1 | $1.0m | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| TORTOISE CAPITAL ADVISORS, L.L.C. 2.95% of their portfolio | 11.6m $226.1m | Reduced -217.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 10.1m $196.6m | Added +247.4k |
| Energy Income Partners, LLC 3.85% of their portfolio | 10.1m $196.1m | Reduced -83.3k |
| CHICKASAW CAPITAL MANAGEMENT LLC 6.43% of their portfolio | 8.3m $162.0m | Added +167.1k |
| Clearbridge Investments, LLC 0.12% of their portfolio | 7.3m $142.6m | Reduced -1.6m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.43% of their portfolio | 6.5m $126.5m | Added +230.4k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 4.9m $94.9m | Reduced -337.2k |
| UBS Group AG 0.02% of their portfolio | 4.7m $92.2m | Reduced -1.4m |
| Invesco Ltd. 0.01% of their portfolio | 4.3m $83.9m | Added +129.0k |
| TWO SIGMA ADVISERS, LP 0.16% of their portfolio | 4.0m $77.8m | Reduced -17.7k |
| MORGAN STANLEY 0.00% of their portfolio | 3.8m $73.1m | Reduced -1.2m |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 4.18% of their portfolio | 3.5m $68.8m | Reduced -490.0k |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.4m $66.4m | Added +85.4k |
| WESTWOOD HOLDINGS GROUP INC 0.44% of their portfolio | 3.2m $61.7m | Reduced -507.1k |
| Artemis Investment Management LLP 0.77% of their portfolio | 3.1m $59.6m | New |
| Recurrent Investment Advisors LLC 4.25% of their portfolio | 2.7m $52.6m | Added +3.2k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 2.6m $51.5m | Added +86.7k |
| TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio | 2.6m $50.6m | Reduced -204.2k |
| Advisors Capital Management, LLC 0.68% of their portfolio | 2.6m $49.8m | Added +130.2k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.08% of their portfolio | 2.1m $41.5m | Reduced -422.0k |
| Blackstone Inc. 0.18% of their portfolio | 2.1m $40.1m | Added +127 |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $32.9m | Reduced -850.0k |
| McGowan Group Asset Management, Inc. 3.26% of their portfolio | 1.3m $25.9m | Added +154.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.3m $24.9m | Reduced -645.0k |
| Simplify Asset Management Inc. 1.50% of their portfolio | 1.3m $24.7m | Unchanged |
| Propel Bio Management, LLC 30.01% of their portfolio | 1.3m $24.7m | Unchanged |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 1.2m $23.4m | Reduced -351.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 1.2m $22.9m | Reduced -402.6k |
| ALPS ADVISORS INC 0.13% of their portfolio | 1.2m $22.8m | Added +128.9k |
| MILLER HOWARD INVESTMENTS INC /NY 0.72% of their portfolio | 1.2m $22.8m | Reduced -258.7k |
| EAGLE GLOBAL ADVISORS LLC 0.88% of their portfolio | 1.1m $21.8m | Reduced -228.7k |
| RR Advisors, LLC 5.09% of their portfolio | 1.1m $21.2m | Reduced -126.0k |
| Bahl & Gaynor LLC 0.10% of their portfolio | 1.0m $20.3m | Added +92.1k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 990.6k $19.2m | Added +70.0k |
| BARCLAYS PLC 0.01% of their portfolio | 946.3k $18.4m | Added +31.2k |
| Catalyst Capital Advisors LLC 0.37% of their portfolio | 938.9k $18.2m | Added +53.0k |
| ALGERT GLOBAL LLC 0.38% of their portfolio | 932.0k $18.1m | Added +130.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 930.0k $18.1m | Reduced -83.9k |
| LPL Financial LLC 0.01% of their portfolio | 906.1k $17.6m | Added +121.5k |
| HRT FINANCIAL LP 0.09% of their portfolio | 837.0k $16.3m | Added +373.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 823.3k $16.0m | Added +354.9k |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 799.7k $15.5m | Added +42.9k |
| Goodman Financial Corp 3.05% of their portfolio | 781.3k $15.2m | Added +16.7k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 770.5k $15.0m | Added +43.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 769.1k $14.9m | Added +93.4k |
| EVERGREEN CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 740.3k $14.4m | Added +23.6k |
| STATE STREET CORP 0.00% of their portfolio | 739.9k $14.4m | Reduced -44.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 722.1k $14.0m | Added +265.5k |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 713.8k $13.9m | Reduced -79.5k |
| Turtle Creek Wealth Advisors, LLC 1.57% of their portfolio | 685.8k $13.3m | Added +202.6k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.22% of their portfolio | 662.5k $12.9m | Added +45.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 644.4k $12.5m | Added +223.1k |
| Pathstone Holdings, LLC 0.05% of their portfolio | 627.7k $12.2m | Reduced -624.6k |
| Cambria Investment Management, L.P. 0.75% of their portfolio | 570.7k $11.1m | Reduced -49.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 538.9k $10.5m | Reduced -505.9k |
| STOREBRAND ASSET MANAGEMENT AS 0.03% of their portfolio | 533.7k $10.4m | Unchanged |
| CIBC Private Wealth Group LLC 0.02% of their portfolio | 527.9k $10.3m | Added +200.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 527.5k $10.2m | Added +82.5k |
| CI INVESTMENTS INC. 0.03% of their portfolio | 407.6k $7.9m | Added +64.7k |
| Swiss National Bank 0.00% of their portfolio | 377.8k $7.3m | Reduced -4.8k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 370.5k $7.2m | Reduced -66.1k |
| Linscomb Wealth, Inc. 0.32% of their portfolio | 362.8k $7.0m | Added +11.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 348.3k $6.8m | Added +18.5k |
| Oxbow Advisors, LLC 0.70% of their portfolio | 329.8k $6.4m | Added +3.2k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 325.9k $6.3m | Reduced -8.2k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 314.3k $6.1m | Reduced -27.5k |
| Bard Financial Services, Inc. 0.69% of their portfolio | 296.7k $5.8m | Reduced -50 |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 291.3k $5.7m | Added +125.2k |
| Engineers Gate Manager LP 0.07% of their portfolio | 288.1k $5.6m | Added +119.2k |
| Gilman Hill Asset Management, LLC 0.89% of their portfolio | 281.1k $5.5m | Reduced -1.8k |
| ING GROEP NV 0.03% of their portfolio | 257.0k $5.0m | New |
| Moors & Cabot, Inc. 0.23% of their portfolio | 253.5k $4.9m | Added +3.8k |
| Waverly Advisors, LLC 0.05% of their portfolio | 246.8k $4.8m | Reduced -16.2k |
| Corient Private Wealth LP 0.01% of their portfolio | 242.0k $4.7m | Added +7.8k |
| NBW CAPITAL LLC 1.01% of their portfolio | 240.0k $4.7m | Reduced -22.9k |
| Callodine Capital Management, LP 0.48% of their portfolio | 240.0k $4.7m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 238.4k $4.6m | Added +97.8k |
| MERITAGE PORTFOLIO MANAGEMENT 0.29% of their portfolio | 233.8k $4.5m | Reduced -6.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 231.9k $4.5m | Reduced -353 |
| STEPHENS INC /AR/ 0.06% of their portfolio | 223.6k $4.3m | Added +739 |
| JRM Investment Counsel, LLC 1.37% of their portfolio | 219.0k $4.3m | Added +55.0k |
| Americana Partners, LLC 0.14% of their portfolio | 211.7k $4.1m | Unchanged |
| EXCHANGE TRADED CONCEPTS, LLC 0.05% of their portfolio | 210.8k $4.1m | Reduced -6.5k |
| Legal & General Group Plc 0.00% of their portfolio | 207.1k $4.0m | Added +3.1k |
| Heronetta Management, L.P. 2.15% of their portfolio | 198.5k $3.9m | Added +2.1k |
| Janney Montgomery Scott LLC 0.01% of their portfolio | 196.8k $3.8m | Added +241 |
| KAYNE ANDERSON CAPITAL ADVISORS LP 0.09% of their portfolio | 195.2k $3.8m | Reduced -386.7k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 194.8k $3.8m | Added +2.3k |
| Cetera Investment Advisers 0.01% of their portfolio | 192.2k $3.7m | Reduced -2.5k |
| Prescott Group Capital Management, L.L.C. 0.43% of their portfolio | 189.4k $3.7m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 186.2k $3.6m | Reduced -991.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 181.1k $3.5m | Unchanged |
| Maryland State Retirement & Pension System 0.08% of their portfolio | 178.2k $3.5m | Added +10.7k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.02% of their portfolio | 177.3k $3.4m | Reduced -48.9k |
| HighTower Advisors, LLC 0.00% of their portfolio | 175.5k $3.4m | Reduced -227.1k |
| Schonfeld Strategic Advisors LLC 0.03% of their portfolio | 175.0k $3.4m | Unchanged |
| Chicago Partners Investment Group LLC 0.10% of their portfolio | 173.1k $3.4m | Added +3.4k |
| CENTRAL VALLEY ADVISORS, LLC 1.12% of their portfolio | 169.5k $3.3m | Added +10.8k |
| HF Advisory Group, LLC 1.29% of their portfolio | 167.9k $3.3m | Added +35.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 160.8k $3.1m | Reduced -4.6k |