SCHEDULE: Slim Family Reduces PBF Energy Stake to 24.6%

The Slim Family and Control Empresarial have reduced their beneficial ownership in PBF Energy Inc. to 24.6% through recent share sales.

Summary

• Reporting Persons, including Carlos Slim Helu and family, along with Control Empresarial de Capitales, S.A. de C.V., filed an Amendment No. 6 to their Schedule 13D regarding PBF Energy Inc.
• As of February 11, 2026, the Reporting Persons beneficially own 28,443,198 Class A Common Shares, representing 24.6% of the outstanding shares.
• This percentage is based on approximately 115,847,488 Class A Common Shares outstanding as of October 24, 2025.
• Control Empresarial sold a total of 2,380,300 Class A Common Shares on the New York Stock Exchange between January 9, 2026, and February 11, 2026.
• The sales occurred at weighted average prices ranging from $32.3094 to $35.6188 per share.
• Prior to these sales, Control Empresarial purchased 728,500 Class A Common Shares for approximately $13.5 million between March 3, 2025, and June 6, 2025, using working capital.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this filing with a slightly negative sentiment due to the significant share sales by a major beneficial owner, which could indicate a reduction in long-term conviction, despite prior purchases.

Positives

• Control Empresarial previously demonstrated confidence in PBF Energy by purchasing 728,500 Class A Common Shares for approximately $13.5 million between March and June 2025.

Negatives

• Control Empresarial sold a significant block of 2,380,300 Class A Common Shares between January 9, 2026, and February 11, 2026.
• The sales by a major beneficial owner could be interpreted as a reduction in conviction or a strategic portfolio rebalancing.

Future Outlook

No explicit future outlook or guidance is provided in this filing, which is a Schedule 13D amendment focused on ownership changes.

Industry Context

StockSavvy.ai notes that significant share sales by a major beneficial owner like the Slim Family in the energy sector, particularly a refining company like PBF Energy, can signal a shift in investment strategy or a response to perceived market conditions. While not explicitly stated, such sales could be driven by a desire to rebalance portfolios, realize gains, or reduce exposure to the cyclical refining industry.

Comparison to Industry Standards

• StockSavvy.ai observes that insider selling, especially by large institutional or family holders, is a common occurrence across industries.
• For example, similar large-scale divestments have been seen in other energy companies, such as when institutional investors reduce stakes in integrated oil majors like ExxonMobil or Chevron, or independent refiners like Valero Energy or Marathon Petroleum, often in response to commodity price volatility or long-term energy transition strategies.
• The scale of the Slim Family's remaining 24.6% stake in PBF Energy Inc. still represents a substantial, influential position, comparable to significant institutional holdings in other mid-cap energy firms.

Stakeholder Impact

• Shareholders: The sale of a significant block of shares by a major holder could put downward pressure on the stock price or signal reduced confidence, potentially impacting other shareholders.
• Company (PBF Energy Inc.): A reduction in a large shareholder's stake might reduce their influence or commitment, though the remaining 24.6% is still substantial.

Next Steps

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

Key Dates

Recommendation

While the significant sales by a major beneficial owner could be seen as a negative signal, the remaining 24.6% stake still represents a substantial commitment. The prior purchases also indicate a period of confidence. Investors should hold to observe PBF Energy's operational performance and broader market trends, as this filing primarily reflects a portfolio rebalancing by a large investor rather than a fundamental change in the company's prospects.

Keywords

PBF Energy, PBF, Carlos Slim Helu, Control Empresarial, Schedule 13D, Share Sale, Beneficial Ownership, Refining, Energy Sector, Insider Selling