What smart money is saying about PBF Energy Inc.
1 fund in our archive has pitched PBF Energy Inc., most recently Third Avenue Small-Cap Value Fund in September 2026.
PBF Energy Inc., operating through its subsidiaries, primarily focuses on the refinement and distribution of various petroleum products. Its business is structured into two core segments: Refining and Logistics. The company's extensive product portfolio encompasses gasoline, ultra-low-sulfur diesel, heating oil, standard diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt. Additionally, it provides unbranded transportation fuels, essential petrochemical feedstocks, blending components, and other petroleum derivatives. PBF Energy distributes these products across the United States, specifically targeting the Northeast, Midwest, Gulf Coast, and West Coast regions, with further market penetration into other domestic areas, Canada, and Mexico. Beyond its refining activities, the company offers a comprehensive suite of logistics services, including rail, truck, and marine terminaling, alongside pipeline transportation and storage solutions. As of December 31, 2021, PBF Energy Inc. owned and operated six oil refineries and associated infrastructure. The company was established in 2008 and is headquartered in Parsippany, New Jersey.
Get an email when a fund buys, sells or pitches it
Position history
Between Q1 2026 and Q3 2026, 2 fund letters reported a position in PBF Energy Inc., with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 1 |
| Q1 2026 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 2 positions
- September 2026
“The single largest contributor to Fund performance for the quarter was PBF Energy.”
PBF Energy Inc. - March 2026
“Leading performance contributor LSB Industries benefited from global gas disruption, rising prices and potentially serious impacts to the global fertilizer supply. Disruption to Middle East oil and gas flows and damage to Middle East processing assets creates significant disruption to energy and product flows, though to varying degrees and depending on location, which means wider pricing differentials and wider crack spreads for those positioned to take advantage. The currently disrupted environment is very desirable for refining company PBF Energy in many ways. SandRidge Energy, an oil and gas producer, was also a beneficiary of rising disruption to Middle East energy transportation during the quarter and has the most direct connection to higher energy prices. Kaiser Aluminum is also a beneficiary of impediments to U.S. metal imports. All four investments performed well during a quarter which was marked by disruption to normal operations of their respective industries.”
PBF Energy Inc.
Fund coverage · 1 thesis
- Third Avenue Small-Cap Value FundSeptember 2026
PBF Energy benefits from normalized refinery economics, huge cash flows, a deleveraged balance sheet, and a low free-cash-flow multiple.
Read the full thesis
Read every full thesis on PBF Energy Inc.
Read all 1 thesis in full, with each fund's reasoning, and get unlimited access to the archive.
View plans→