Plains GP Holdings, L.P.

PAGP • NASDAQ

Plains GP Holdings, L.P. is a oil & gas midstream company in the energy sector on NASDAQ, led by Willie Chiang, with a market cap of $3.7B. As of Q3 2025, 77% of shares are held by 314 institutional investors, with TORTOISE CAPITAL ADVISORS, L.L.C. as the largest holder at 5.98%.

Chairman of the Board and Chief Executive OfficerWillie Chiang

Market Cap$3.7B

Oil & Gas Midstream

Energy

Employees4.2K

Websiteplains.com

Country

United States of America

Overview

Overview of institutional ownership in PAGP as of Q3 2025 with a market cap of $3.6B

All Institutions

Institutions: 314
Value Held: $2.8B
Shares Held: 152.3M
Avg Position: $8.8M
Median Position: $785.6K

Hedge Funds

Hedge Funds: 24
Value Held: $207.7M
Shares Held: 11.4M
Avg Position: $8.7M
Median Position: $1.4M

Ownership Breakdown

Institutional (non-HF)

71.28%

$2.6B

Hedge Funds

5.76%

$207.7M

Retail & Other

22.96%

$828.1M

Based on market cap of $3.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PAGP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets	Thomas Ibberson Florence CEO	$215.6M 2.78% of portfolio	5.98% 11.8M shares	Q4 2013 Held for 11y 11m	$7.8B
Energy Income Partners, LLC Long Only Manager	James Jarvis Murchie CEO	$186.0M 3.59% of portfolio	5.16% 10.2M shares	Q4 2018 Held for 6y 11m	$5.2B
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$181.3M 0.06% of portfolio	5.03% 9.9M shares	Q1 2014 Held for 11y 8m	$322.72B
CHICKASAW CAPITAL MANAGEMENT LLC Long Only Manager	Matthew Gregory Mead Managing Partner	$161.1M 6.64% of portfolio	4.47% 8.8M shares	Q4 2013 Held for 11y 11m	$2.4B
Clearbridge Investments, LLC Long Only Manager	John Randolph Haller COO	$133.3M 0.10% of portfolio	3.69% 7.3M shares	Q4 2013 Held for 11y 11m	$132.87B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$91.5M 0.01% of portfolio	2.54% 5.0M shares	Q4 2013 Held for 11y 11m	$691.34B
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	Cory Lawrence Martin CEO	$91.2M 0.29% of portfolio	2.53% 5.0M shares	Q2 2023 Held for 2y 5m	$31.4B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$80.0M 0.01% of portfolio	2.22% 4.4M shares	Q4 2015 Held for 9y 11m	$633.08B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$70.4M 0.00% of portfolio	1.95% 3.9M shares	Q4 2013 Held for 11y 11m	$1.65T
CUSHING MLP ASSET MANAGEMENT, LP Long Only Manager	John Marshall Musgrave CEO	$65.4M 3.71% of portfolio	1.81% 3.6M shares	Q4 2013 Held for 11y 11m	$1.8B

Net Capital Flow

Institutional buying and selling activity for PAGP in Q3 2025

Net Flow: −$30.6M
Buyers: 140
Sellers: 108
Total Bought: +$156.8M
Total Sold: −$187.4M
Avg Position: $8.8M

Biggest Buyers

Institution	Net Bought	Current Position
B BROOKFIELD ASSET MANAGEMENT INC. RIA/Wealth	+$43.5M +2.4M shares	$44.0M 2.4M shares
Pathstone Holdings, LLC Family Office	+$26.0M +1.4M shares	$37.5M 2.1M shares
CHICKASAW CAPITAL MANAGEMENT LLC Long Only Manager	+$9.0M +494.3K shares	$161.1M 8.8M shares
BANK OF AMERICA CORP /DE/ Institution	+$8.5M +466.8K shares	$31.9M 1.8M shares
A Artemis Investment Management LLP Institution	+$8.4M +462.7K shares	$64.4M 3.5M shares
Q Qube Research & Technologies Ltd Institution	+$8.3M +456.4K shares	$26.4M 1.4M shares
Callodine Capital Management, LP Hedge Fund•Long/Short	+$5.5M +300.0K shares	$9.8M 540.0K shares
TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets	+$3.3M +182.0K shares	$215.6M 11.8M shares
THOMPSON SIEGEL & WALMSLEY LLC Long Only Manager	+$2.9M +161.4K shares	$15.0M 823.9K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$2.9M +157.2K shares	$5.6M 304.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	−$27.5M −1.5M shares	$91.2M 5.0M shares
UBS Group AG Institution	−$25.5M −1.4M shares	$61.1M 3.3M shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	−$18.1M −932.0K shares	Sold Off 0 shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$12.4M −677.6K shares	$60.7M 3.3M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$10.4M −567.5K shares	$37.2M 2.0M shares
WESTWOOD HOLDINGS GROUP INC Institution	−$9.8M −538.8K shares	$48.0M 2.6M shares
BANK OF MONTREAL /CAN/ Institution	−$7.2M −370.5K shares	Sold Off 0 shares
I ING GROEP NV Institution	−$5.0M −257.0K shares	Sold Off 0 shares
Recurrent Investment Advisors LLC Long Only Manager	−$4.9M −271.2K shares	$44.4M 2.4M shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$4.9M −269.9K shares	$16.6M 907.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PAGP in Q3 2025

New Positions: 11
New Value: $1.7M
Exited Positions: 24
Exited Value: $42.0M

New Positions

Institution	Position Value
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$393.9K 21.6K shares
Savvy Advisors, Inc. RIA/Wealth	$308.3K 16.9K shares
Sunbelt Securities, Inc. RIA/Wealth	$249.1K 13.7K shares
GDS Wealth Management RIA/Wealth	$206.3K 11.3K shares
MITCHELL MCLEOD PUGH & WILLIAMS INC RIA/Wealth	$189.4K 10.7K shares
FIRST FOUNDATION ADVISORS RIA/Wealth	$182.4K 10.0K shares
SRS Capital Advisors, Inc. RIA/Wealth	$99.1K 5.4K shares
Wealth Watch Advisors, INC RIA/Wealth	$10.3K 565.0 shares
Q Quintet Private Bank S.A. Institution	$9.9K 545.0 shares
FINANCIAL CONSULATE, INC RIA/Wealth	$1.8K 100.0 shares

Exited Positions

Institution	Previous Position
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$18.1M 932.0K shares
BANK OF MONTREAL /CAN/ Institution	$7.2M 370.5K shares
I ING GROEP NV Institution	$5.0M 257.0K shares
X XTX Topco Ltd Institution	$2.9M 148.5K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$1.6M 82.7K shares
J JANE STREET GROUP, LLC Institution	$1.4M 70.5K shares
N NATIXIS Institution	$1.0M 52.9K shares
N Nuveen, LLC Institution	$795.5K 40.9K shares
D DRW Securities, LLC Institution	$636.1K 32.7K shares
K Kapitalo Investimentos Ltda Institution	$542.1K 27.9K shares

Options Activity

Institutions with the largest Call and Put options positions in PAGP as of Q3 2025

Call Positions: 10
Call Value: $89.6M
Put Positions: 11
Put Value: $30.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$22.8M 12.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$21.2M 11.6K contracts
Walleye Trading LLC RIA/Wealth	$17.3M 9.5K contracts
J JANE STREET GROUP, LLC Institution	$15.7M 8.6K contracts
P PEAK6 LLC Institution	$9.1M 5.0K contracts
W WOLVERINE TRADING, LLC Institution	$1.0M 568.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$767.9K 421.0 contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$642.0K 352.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$516.2K 283.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$468.8K 257.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$14.0M 7.7K contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$5.9M 3.3K contracts
Walleye Trading LLC RIA/Wealth	$3.2M 1.8K contracts
J JANE STREET GROUP, LLC Institution	$2.2M 1.2K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.0M 1.1K contracts
W WOLVERINE TRADING, LLC Institution	$805.0K 438.0 contracts
P PEAK6 LLC Institution	$616.5K 338.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$560.0K 307.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$552.7K 303.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$342.9K 188.0 contracts

Most Committed Institutions

Institutions with PAGP as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Propel Bio Management, LLC Hedge Fund•Sector	Leen Kawas Managing Partner	23.23% $23.2M	0.64% 1.3M shares	Q4 2023 Held for 1y 11m	$99.9M
CHICKASAW CAPITAL MANAGEMENT LLC Long Only Manager	Matthew Gregory Mead Managing Partner	6.64% $161.1M	4.47% 8.8M shares	Q4 2013 Held for 11y 11m	$2.4B
R RR Advisors, LLC Hedge Fund•Sector	Robert Joseph Raymond CEO	4.23% $18.0M	0.50% 986.0K shares	Q4 2013 Held for 11y 11m	$424.7M
Amplify Investments, LLC ETF Provider	William Belden President	3.87% $148.9K	0.00% 8.2K shares	Q2 2025 Held for 5 months	$3.9M
CUSHING MLP ASSET MANAGEMENT, LP Long Only Manager	John Marshall Musgrave CEO	3.71% $65.4M	1.81% 3.6M shares	Q4 2013 Held for 11y 11m	$1.8B
Energy Income Partners, LLC Long Only Manager	James Jarvis Murchie CEO	3.59% $186.0M	5.16% 10.2M shares	Q4 2018 Held for 6y 11m	$5.2B
McGowan Group Asset Management, Inc. RIA/Wealth	Spencer Dean Mcgowan President	3.49% $24.3M	0.67% 1.3M shares	Q1 2024 Held for 1y 8m	$695.1M
Recurrent Investment Advisors LLC Long Only Manager	Mark Jason Laskin Managing Partner	3.40% $44.4M	1.23% 2.4M shares	Q4 2019 Held for 5y 11m	$1.3B
TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets	Thomas Ibberson Florence CEO	2.78% $215.6M	5.98% 11.8M shares	Q4 2013 Held for 11y 11m	$7.8B
Goodman Financial CORP RIA/Wealth	Steven Robert Goodman President	2.74% $14.1M	0.39% 770.6K shares	Q2 2019 Held for 6y 5m	$513.7M

Hedge Fund Spotlight

Discover hedge funds investing in PAGP

TWO SIGMA ADVISERS, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerCarter Mayberry Lyons

Portfolio Value: $50.0B
Positions: 2,312
Last Reported: Q3 2025

Sector Allocation

Position in Plains GP Holdings, L.P.

Market Value: $60.7M
Shares Held: 3.3M
Portfolio Weight: 0.12%
Owned Since: 2021-Q2

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$1.5B	3.07%
2 Microsoft MSFT	Software - Infrastructure Technology	$1.5B	3.03%
3 Apple AAPL	Consumer Electronics Technology	$1.4B	2.79%