What is the 13F Pro Quality Score for PAA?

13F Pro ranks PLAINS ALL AMERICAN PIPELINE LP (PAA) 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 PAA's current score at https://13fpro.ai/company/PAA (free sign-up required for the full ranking).

Which hedge funds own the most PAA stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of PAA include ALPS ADVISORS, Invesco Ltd., Blackstone. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/PAA as soon as new 13F filings post.

Where does 13F Pro source PAA data?

All PLAINS ALL AMERICAN PIPELINE LP fundamentals and ownership data come directly from SEC EDGAR. PLAINS ALL AMERICAN PIPELINE LP files with the SEC under CIK 1070423. 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 PAA in?

PLAINS ALL AMERICAN PIPELINE LP (PAA) 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 PAA's revenue?

Per PLAINS ALL AMERICAN PIPELINE LP's latest 10-Q filed with the SEC on 2026-08-10, the biggest revenue drivers are: Crude Oil segment ($30.3B, +37% YoY); NGL segment ($61M, -9% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/PAA.

What are PAA's largest expenses?

PLAINS ALL AMERICAN PIPELINE LP's latest 10-Q reports these as the largest expense items: Purchases and related costs ($28.0B, +38% YoY); Field operating costs ($628M, +7% YoY); General and administrative expenses ($192M, +14% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (six months ended June 30, 2026).

How often is PAA research updated on 13F Pro?

PAA'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.

PLAINS ALL AMERICAN PIPELINE LP(PAA)Stock Analysis

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13F Pro Quality Score

59.1/100

Rank #947 of 2,961 stocksTOP 50%

View Energy peers →

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

Revenue Growth

39.6/100

Profitability

58.2/100

Balance Sheet

82.2/100

Earnings Quality

21.0/100

Free Cash Flow

40.4/100

Institutional Flow

49.5/100

Revenue Scale

97.0/100

Dilution Risk

87.8/100

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Why PAA Scores 59/100

exact factor attribution · 2026-09-11

PAA's composite is driven by scale and capital efficiency, held back by earnings quality and revenue growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Scale

+7.0 pts

97th pct

Capital efficiency

+3.2 pts

82th pct

Earnings growth

+2.2 pts

94th pct

Shareholder dilution

+1.9 pts

88th pct

Profitability

+1.2 pts

58th pct

Institutional flow

-0.0 pts

50th pct

Free cash flow

-1.4 pts

40th pct

Revenue growth

-2.1 pts

40th pct

Earnings quality

-2.9 pts

21th pct

Latest change (2026-08-13): 57 → 56 · ↓ Institutional flow 84→3; despite ↑ Revenue growth 26→40

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

PAA Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for PLAINS ALL AMERICAN PIPELINE LP (PAA), a Energy sector company. 13F Pro's AI-powered ranking engine scores PAA at 59.1/100 on a 32-signal composite quality model, placing it at rank #947 of 2,961 stocks — the top half of the AI-ranked universe. PAA scores in the top quartile across revenue scale (97.0), balance sheet strength (82.2). Areas of concern include earnings quality (21.0) and revenue growth (39.6), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), PLAINS ALL AMERICAN PIPELINE LP reports quarterly revenue of $17.7B, net income of $1.8B, an operating margin of 2.3%. Top institutional holders of PAA by reported 13-F value include ALPS ADVISORS, Invesco Ltd., Blackstone, based on the most recent SEC filings. PAA trades on the Nasdaq exchange and files with the SEC under CIK 1070423. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PAA 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 PLAINS ALL AMERICAN PIPELINE LP directly from SEC EDGAR. PLAINS ALL AMERICAN PIPELINE LP's 13F Pro composite quality score has ranged between 34 and 68 since 2021, currently 59.1 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

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

AI-extracted from PLAINS ALL AMERICAN PIPELINE LP's 10-Q filed 2026-08-10 — Q2 FY2026 (six months ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

PAA reported $30.2B in total revenues for H1 2026, up 36% YoY, driven by higher crude oil volumes and commodity prices; Q2 net income surged to $1.8B including $1.6B gain on Canadian NGL Business divestiture completed May 12, 2026.

Biggest Revenue Drivers

Crude Oil segment$30.3B+37% YoY

Higher crude oil sales volumes and commodity prices; contributions from Cactus III acquisition; volume growth across pipeline systems

NGL segment$61M-9% YoY

NGL storage and terminalling services from U.S. facilities; Canadian NGL Business divested May 12, 2026

Biggest Revenue Drivers

Total revenue: $30.2B+36% YoY

Crude Oil segment$30.3B+37% YoY

Higher crude oil sales volumes and commodity prices; contributions from Cactus III acquisition; volume growth across pipeline systems

NGL segment$61M-9% YoY

NGL storage and terminalling services from U.S. facilities; Canadian NGL Business divested May 12, 2026

Largest Expense Items

Purchases and related costs$28.0B+38% YoY

Increased due to higher crude oil volumes and commodity prices; primarily indexed to NYMEX Light Sweet crude oil futures

Field operating costs$628M+7% YoY

Higher volumes, property taxes, environmental remediation; partially offset by lower employee costs from trucking operations divestiture

General and administrative expenses$192M+14% YoY

Acceleration of exit costs for Canadian NGL Business divestiture; partially offset by lower information systems costs

Depreciation and amortization$486M+4% YoY

Increased due to recently completed acquisitions including Cactus III

Margins: Segment Adjusted EBITDA from continuing operations was $1.3B for H1 2026 vs. $1.1B in H1 2025, a 12% increase, reflecting volume growth and acquisition contributions. Equity earnings in unconsolidated entities decreased 9% YoY to $178M, partly offset by improved derivative activity. Operating margin improvement was driven by Permian Basin volume growth and optimization initiatives.

Watch Items from the Filing

Canadian NGL Business divestiture generated $1.6B gain but created $311M current income tax expense and $217M deferred tax benefit in H1 2026 from restructuring; closing of sale on May 12, 2026 triggered $1.1B term loan repayment and $750M senior note redemption.
Line 901 incident (2015 crude oil release) has accumulated $870M in total estimated costs through June 2026; remaining gross liability $23M with ongoing lawsuits and legal costs expected; collected $295M of $500M available insurance.
Canadian Competition Bureau filed lawsuit May 5, 2026 challenging Keyera acquisition of Canadian NGL Business on competition grounds; Keyera primarily responsible for defense; PAA does not expect material adverse effect.
Permian JV, Cactus II, and Red River represent 35%, 30%, and 33% noncontrolling interests; distributions to noncontrolling interests totaled $205M for H1 2026; leverage reductions from divestiture proceeds provide financial flexibility.

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

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

Revenue

Q2 2026

$17.7B

Net Income

Q2 2026

$1.8B

Free Cash Flow

Q2 2026

$817.0M

Operating Margin

Q2 2026

2.3%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

-9.5% YoY

$44.26BFY 2025

FY22 $57.34BFY23 $47.34BFY24 $48.89BFY25 $44.26B

Net Income

+85.9% YoY

$1.44BFY 2025

FY22 $1.04BFY23 $1.23BFY24 $772.0MFY25 $1.44B

Operating Income

+65.2% YoY

$1.43BFY 2025

FY22 $1.29BFY23 $1.26BFY24 $868.0MFY25 $1.43B

Total Assets

+13.6% YoY

$30.17BFY 2025

FY22 $27.89BFY23 $27.36BFY24 $26.56BFY25 $30.17B

Total Debt

+47.8% YoY

$11.26BFY 2025

FY22 $8.45BFY23 $7.75BFY24 $7.62BFY25 $11.26B

Op. Cash Flow

+17.9% YoY

$2.94BFY 2025

FY22 $2.41BFY23 $2.73BFY24 $2.49BFY25 $2.94B

Free Cash Flow

+12.3% YoY

$2.29BFY 2025

FY22 $1.95BFY23 $2.32BFY24 $2.04BFY25 $2.29B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$44.26B -9.5%	$48.89B +3.3%	$47.34B -17.4%	$57.34B +36.3%	$42.08B +80.7%	$23.29B
Net Income	$1.44B +85.9%	$772.0M -37.2%	$1.23B +18.6%	$1.04B +74.9%	$593.0M +122.9%	$-2.59B
Operating Income	$1.43B +65.2%	$868.0M -31.0%	$1.26B -2.6%	$1.29B +51.8%	$851.0M +135.8%	$-2.38B
Total Assets	$30.17B +13.6%	$26.56B -2.9%	$27.36B -1.9%	$27.89B -2.5%	$28.61B +16.8%	$24.50B
Total Debt	$11.26B +47.8%	$7.62B -1.7%	$7.75B -8.2%	$8.45B -8.4%	$9.22B -9.7%	$10.21B
Operating Cash Flow	$2.94B +17.9%	$2.49B -8.7%	$2.73B +13.2%	$2.41B +20.6%	$2.00B +31.8%	$1.51B
Free Cash Flow	$2.29B +12.3%	$2.04B -11.9%	$2.32B +18.7%	$1.95B +17.7%	$1.66B +113.9%	$776.0M

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Available Research

13F Pro tracks comprehensive data for PLAINS ALL AMERICAN PIPELINE LP 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 PAA

ALPS ADVISORS INC
$1.6B70,510,853 sh
Invesco Ltd.
$741.9M33,326,777 sh
Blackstone Inc.
$449.3M20,183,446 sh
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
$394.2M17,708,480 sh
GOLDMAN SACHS GROUP INC
$355.3M15,960,527 sh
TORTOISE CAPITAL ADVISORS, L.L.C.
$302.8M13,603,422 sh
MORGAN STANLEY
$242.4M10,887,631 sh
UBS Group AG
$235.4M10,572,985 sh
KAYNE ANDERSON CAPITAL ADVISORS LP
$137.8M6,191,802 sh
JPMORGAN CHASE & CO
$109.9M4,968,377 sh

Fund	Value	Shares
ALPS ADVISORS INC	$1.6B	70,510,853
Invesco Ltd.	$741.9M	33,326,777
Blackstone Inc.	$449.3M	20,183,446
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$394.2M	17,708,480
GOLDMAN SACHS GROUP INC	$355.3M	15,960,527
TORTOISE CAPITAL ADVISORS, L.L.C.	$302.8M	13,603,422
MORGAN STANLEY	$242.4M	10,887,631
UBS Group AG	$235.4M	10,572,985
KAYNE ANDERSON CAPITAL ADVISORS LP	$137.8M	6,191,802
JPMORGAN CHASE & CO	$109.9M	4,968,377

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Is PAA a good stock to buy?

13F Pro's AI-powered analysis of PLAINS ALL AMERICAN PIPELINE LP (PAA) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PAA are available on the PAA 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. PAA is classified as a large company.

Which hedge funds own PAA?

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 PAA. 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 PLAINS ALL AMERICAN PIPELINE LP's investment landscape.