MFS reports 4.8% stake in Plains GP Holdings (PAGP)

Rhea-AI Filing Summary

Plains GP Holdings, L.P. received an updated ownership report from Massachusetts Financial Services Company (MFS) on a Schedule 13G/A. MFS reports beneficial ownership of 9,537,077 shares of Plains GP common stock, representing 4.8% of the class as of the event date.

MFS reports sole power to vote 9,516,370 shares and sole power to dispose of 9,537,077 shares, with no shared voting or dispositive power. MFS certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

PLAINS GP HOLDINGS, L.P.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

72651A207

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 72651A207

1

Names of Reporting Persons

Massachusetts Financial Services Company

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,516,370.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,537,077.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,537,077.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PLAINS GP HOLDINGS, L.P.
(b)	Address of issuer's principal executive offices: 333 Clay Street, Suite 1600, Houston, TX 77002
Item 2.
(a)	Name of person filing: Massachusetts Financial Services Company
(b)	Address or principal business office or, if none, residence: 111 Huntington Avenue, Boston, MA 02199
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 72651A207
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 9,537,077 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities
(b)	Percent of class: 4.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9,516,370
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 9,537,077
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Massachusetts Financial Services Company

Signature:	Deepu Pylee
Name/Title:	Compliance Director
Date:	01/28/2026

FAQ

What does the PAGP Schedule 13G/A filing by Massachusetts Financial Services disclose?

The filing shows Massachusetts Financial Services Company as a beneficial owner of Plains GP Holdings common stock. It reports 9,537,077 shares owned, representing 4.8% of the class, held in the ordinary course of business without the purpose of influencing control.

How many Plains GP (PAGP) shares does Massachusetts Financial Services beneficially own?

Massachusetts Financial Services reports beneficial ownership of 9,537,077 Plains GP common shares. This total includes shares beneficially owned by MFS and certain non-reporting entities, giving MFS significant institutional exposure while remaining under 5% of the outstanding common stock class.

What percentage of Plains GP Holdings common stock is owned by Massachusetts Financial Services?

Massachusetts Financial Services reports owning 4.8% of Plains GP Holdings’ common stock. This percentage is based on 9,537,077 shares beneficially owned, as disclosed in the Schedule 13G/A, and reflects an institutional position below the 5% threshold.

What voting and dispositive power does MFS report over Plains GP (PAGP) shares?

MFS reports sole voting power over 9,516,370 Plains GP shares and sole dispositive power over 9,537,077 shares. It reports zero shared voting and dispositive power, indicating control over how these shares are voted and potentially sold.

Does Massachusetts Financial Services seek to influence control of Plains GP Holdings?

The certification states the securities were acquired and are held in the ordinary course of business. MFS confirms they were not acquired and are not held to change or influence control, nor in connection with any transaction having that purpose or effect.