SCHEDULE: Slim Family Reduces PBF Energy Stake to 22.6%

Carlos Slim Helu and family entities have reduced their beneficial ownership in PBF Energy Inc. to 22.6% through recent share sales.

Summary

• This is Amendment No. 7 to the Schedule 13D filing concerning PBF Energy Inc.'s Class A Common Stock.
• The reporting persons, including Carlos Slim Helu and the Slim Family, collectively beneficially own 26,469,098 Class A Common Shares.
• This ownership represents 22.6% of the outstanding Class A Common Shares, calculated based on approximately 116,926,814 shares issued and outstanding as of February 6, 2026.
• Control Empresarial de Capitales, S.A. de C.V., directly or indirectly, holds these shares, and the Slim Family may be deemed to indirectly beneficially own them through a Mexican trust.
• Since the filing of Amendment No. 6, Control Empresarial de Capitales sold a total of 2,474,100 Class A Common Shares on the New York Stock Exchange across multiple transactions between February 11, 2026, and March 4, 2026.
• The weighted average sale prices for these transactions ranged from $34.1066 to $44.8648 per share.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a moderately negative development due to the significant reduction in beneficial ownership by a major investor group, which could signal a shift in their long-term view of PBF Energy, despite the sales occurring at favorable prices.

Positives

• The reporting persons executed significant share sales at increasing prices towards the end of the reporting period, indicating favorable market conditions for their divestment.

Negatives

• The substantial reduction in stake by a major beneficial owner group could be perceived negatively by the market, potentially signaling a lack of long-term conviction or a strategic divestment from PBF Energy Inc.

Future Outlook

No forward-looking statements or guidance regarding PBF Energy Inc.'s operations or financial performance are provided in this beneficial ownership filing.

Industry Context

StockSavvy.ai notes that significant divestment by a major, long-term investor group like the Slim family could be interpreted by the market as a strategic shift in their investment portfolio or a re-evaluation of PBF Energy's long-term prospects within the refining sector. This type of large-scale selling activity, even if for portfolio rebalancing, can sometimes put downward pressure on a stock or raise questions about the company's future trajectory, especially if the energy sector faces volatility or regulatory changes.

Related Party Transactions

• Control Empresarial de Capitales, S.A. de C.V., which is indirectly owned by the Slim Family, engaged in transactions (sales of shares) with PBF Energy Inc. stock. This constitutes a related party transaction in the context of the Slim Family's overall beneficial ownership.

Stakeholder Impact

• Shareholders: Existing shareholders might view the significant divestment by a major investor group negatively, potentially leading to downward pressure on the stock price or increased market uncertainty.
• Company Management: Management may need to address market concerns regarding the large shareholder's reduced stake.

Next Steps

• The reporting persons undertake to provide the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the shares sold at each separate price within the reported ranges.

Key Dates

Recommendation

The substantial reduction in beneficial ownership by a prominent investor group like the Slim family, through Control Empresarial, signals a potential loss of conviction or a strategic reallocation of capital away from PBF Energy. While the sales occurred at increasing prices, the sheer volume of shares divested (over 2.4 million) suggests a deliberate move to reduce exposure. This action by a sophisticated investor could prompt other market participants to re-evaluate their positions, potentially leading to downward pressure on the stock. For a seasoned investor, this would be a signal to consider reducing or exiting their position, hence a 'sell' recommendation.

Keywords

PBF Energy Inc., PBF, Carlos Slim Helu, Slim Family, Control Empresarial de Capitales, Schedule 13D/A, Beneficial Ownership, Stock Sales, Shareholder Activity, Energy Sector