Chickasaw Capital Trims Position in Plains GP Holdings

Chickasaw Capital Management has decreased its exposure to Plains GP Holdings (PAGP), selling 144,038 shares in the first quarter of 2026, according to recent SEC filings. The divestment is relatively minor compared to the firm's total holding in the company. As of March 31, Chickasaw continues to hold 8,675,146 shares, with the position valued at approximately $210.6 million. This holding represents 7.4% of the firm's total reported assets under management (AUM) of $2.8 billion. Chickasaw maintains a highly concentrated strategy, with its five largest equities accounting for 52.6% of its total AUM. Plains GP Holdings operates as a critical midstream energy provider, managing extensive pipeline networks and storage capacity for crude oil and natural gas liquids (NGLs) across North America. The company provides essential logistics and transportation services to the broader energy sector. The stock has demonstrated strong momentum, returning 24.5% through April 14, significantly outperforming the S&P 500's 2.1% gain over the same period. This growth has been bolstered by an attractive dividend policy; the board recently increased the quarterly payout by 9.9% to $0.4175 per share, resulting in a dividend yield of 7.1%. While Chickasaw has trimmed its position, the stock's high yield and recent price action continue to make it a point of interest for income-seeking investors in the energy infrastructure space.