Which superinvestors hold Pbf Energy Inc-Class A (PBF)?

Per the latest SEC 13F filings, 1 superinvestor hold Pbf Energy Inc-Class A (PBF): Ray Dalio. Combined value held is about $454,057, with Ray Dalio the largest holder.

Pbf Energy Inc-Class A

Held by 1 superinvestor (PBF).

Educational data only — not investment advice. 13F positions are self-reported and can lag up to 45 days.

This quarter1 trimmed

Valuation

Earnings Power & Asset Floor

Two intrinsic-value methods and a tangible asset floor — deterministic, not price forecasts or recommendations.

Graham earnings-power value (normalized NOPAT) Normalized operating earnings net of maintenance capex are non-positive over the years shown; earnings power cannot be capitalized.Buffett owner-earnings value Normalized owner earnings are non-positive over the years shown; earnings power cannot be capitalized.

Reproduction value $46.29 / shMoat Below asset base (directional)

Zero-growth intrinsic ranges and a tangible asset floor — not investment advice, not a buy/sell signal, and not a price target.

Method & numbers

· reproduction $46.29

Moat Below asset base.

Graham earnings-power value (normalized NOPAT)

Normalized operating earnings net of maintenance capex are non-positive over the years shown; earnings power cannot be capitalized.

Normalized NOPAT = average operating margin over the years shown × latest-year revenue × (1 − normalized tax); then + D&A − maintenance capex (write A). Unlevered (pre-interest, attributable to all capital). Capitalized at the 9–11% rate band (read as a WACC proxy). Enterprise → equity bridge applied: + cash − total debt.

Years: 2025, 2024, 2023, 2022, 2021

v1 simplifications: Maintenance capex (degraded) deducted in full cash (write A): EPV = (NOPAT + D&A − maintenance capex) / WACC; no tax shield on the capex term. Maintenance-capex methods diverge by 165% (> 50%); estimate is degraded. Share-based compensation is left as a real expense (not added back). Operating margin is below its multi-year average (cyclical/declining): normalized margin capped at the latest year — no peak-margin capitalization (audit #2).

Buffett owner-earnings value

Normalized owner earnings are non-positive over the years shown; earnings power cannot be capitalized.

Owner earnings = average net income + average D&A − maintenance capex (zero-growth floor; no ΔNWC). Levered (starts from net income, already after interest — an equity-holder stream). Capitalized at the 9–11% rate band (read as a cost-of-equity proxy). No enterprise→equity bridge: the capitalized result is already equity value (subtracting debt would double-count interest).

Years: 2025, 2024, 2023, 2022, 2021

v1 simplifications: Net income is below its multi-year average (cyclical/declining): normalized owner earnings anchored to the latest year — no peak-earnings capitalization (audit #2). Owner earnings = net income + D&A − maintenance capex (degraded); the working-capital change is excluded (maintenance ΔNWC ≈ 0; growth ΔNWC is carried in growth value, not double-counted). One-time items are not separately normalized (multi-year averaging smooths them partially). Share-based compensation is left as a real expense (not added back); see the SBC/OE disclosure. Capitalized at the same 9–11% band as a cost-of-equity proxy (theoretically the cost of equity is higher; v2 simplification, v3 to refine).

Reproduction value = tangible net assets $5.32B = $46.29 / sh. Total book value (shareholders' equity ÷ diluted shares); intangibles not separated — goodwill/intangibles unavailable this period.

Moat reading: Franchise test compares earnings power (EPV) against reproduction value (tangible net assets + capitalized R&D). EPV well above reproduction value signals a moat; near it, a commodity; below it, value destruction. A directional reading, not a verdict.

Growth value gated to zero — no moat / ROIIC ≤ WACC, so no growth value is credited.

Window FY 2025, 2024, 2023, 2022, 2021 · discount band 9%–11% · normalized tax 21% (Average effective tax rate over 5 year(s), capped at the statutory 21%.) · diluted shares.

Superinvestors Holding This Security

Investor	Value	Shares	Weight (prev→now)
Ray Dalio	$454,057	9,535	0.0% → 0.0% ▼

Ray Dalio
Value$454,057Weight (prev→now)0.0% → 0.0% ▼

Ownership overview

Pbf Energy Inc-Class A (PBF) is held by 1 of the superinvestors tracked on Compounder, with a combined $454,057 in reported 13F value. The largest position belongs to Ray Dalio, where it makes up 0.0% of the portfolio.

Over the latest quarter, 0 of the tracked filers opened a new position in PBF, 0 added to existing ones, 1 trimmed, and 0 sold out entirely.

Holder counts and values reflect the most recent SEC Form 13F filings, through the quarter ended 2026-03-31. Source: SEC EDGAR. A 13F shows only long US-listed positions and can lag the real portfolio by up to 45 days, so this is disclosed long ownership, not a complete picture.

Holders over time

Superinvestors holding this security over the last 7 quarters: 1 → 1.

Early quarters may understate holder counts due to data backfill — read the slope with care.

Key facts & links

Ticker: PBF
Total value held: $454,057
Largest holder: Ray Dalio
External

Sources· SEC EDGAR 13F as of 2026-05-15

Ray Dalio

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