BEN vs PAA Comparison

Franklin Resources provides investment services for individual and institutional investors. At the end of July 2025, Franklin had $1.617 trillion in managed assets, composed primarily of equity (41%), fixed-income (27%), multi-asset/balanced (11%) funds, alternatives (16%) and money market funds (5%). Distribution tends to be weighted between retail investors (56% of AUM) and institutional accounts (41%), with high-net-worth clients accounting for the remainder. Franklin is one of the more global of the US-based asset managers we cover, with 31% of its assets under management invested in global/international strategies and just as much sourced from clients domiciled outside the United States.

Plains All American Pipeline LP through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and barges or railcars. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminalling. It generates the majority of its revenue from the Crude Oil segment.