Forest Avenue Capital Adds to Par Pacific Stake, According to Recent SEC Filing
Key Points
Forest Avenue Capital Management LP bought 625,247 shares of Par Pacific (PARR)
The quarter-end position value increased by $60.94 million, reflecting both share purchases and price appreciation.
This transaction represented a 1.66% increase relative to the fund’s $1.69 billion in 13F assets under management.
Post-trade stake: 1,417,079 shares valued at $88.77 million as of March 31, 2026.
The position now accounts for 5.27% of the portfolio, placing it outside the fund’s top five holdings.
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What happened
According to a Securities and Exchange Commission (SEC) filing dated May 14, 2026, Forest Avenue Capital Management LP increased its holding in Par Pacific Holdings (NYSE:PARR)by 625,247 shares during the first quarter. The stake’s quarter-end value increased by $60.94 million, reflecting both trading activity and price movement.
What else to know
Forest Avenue Capital Management LP’s position in Par Pacific Holdings accounted for 5.27% of reported 13F assets as of March 31, 2026.
Top five holdings after the filing:
- NYSE: VST: $195.03 million (12.3% of AUM)
- NYSE: VIK: $149.69 million (9.5% of AUM)
- NYSE: CRS: $147.81 million (9.3% of AUM)
- NYSE: QXO: $89.77 million (5.7% of AUM)
- NYSE: CNM: $89.32 million (5.6% of AUM)
As of May 13, 2026, Par Pacific Holdings shares were priced at $60.52, up 216.7% over the past year, outperforming the S&P 500 by 190.23 percentage points.
Company/ETF overview
| Metric | Value |
|---|---|
| Price (as of market close May 13, 2026) | $60.52 |
| Market capitalization | $2.948 billion |
| Revenue (TTM) | $7.54 billion |
| Net income (TTM) | $454.24 million |
Company/Etf snapshot
Par Pacific Holdings is a Houston-based energy company with a diversified portfolio across refining, retail, and logistics operations. The company produces and markets refined petroleum products including gasoline, diesel, jet fuel, marine fuel, asphalt, and related products. It operates 119 fuel retail outlets and logistics infrastructure such as terminals, pipelines, and storage facilities.
Par Pacific Holdings generates revenue primarily through refining and selling petroleum products, retail fuel and merchandise sales, and providing logistics and distribution services across Hawaii, the Pacific Northwest, Wyoming, and South Dakota.
The company serves regional wholesale and retail fuel customers, commercial clients, and government entities, with a focus on the U.S. Pacific and Mountain West markets. Its strategic presence in geographically distinct markets provides operational resilience and positions it competitively within the U.S. oil and gas refining sector.
What this transaction means for investors
Par Pacific Holdings (NYSE: PARR) is evaluated based on the earnings potential of its regional refining network, rather than crude oil prices alone. The company operates refineries in Hawaii, the Pacific Northwest, and the Rockies, supported by logistics and retail assets that facilitate fuel distribution in local markets. This focus distinguishes Par from broader energy investments, as its performance relies on regional fuel margins, refinery reliability, and the advantages of serving specialized supply chains.
The first quarter demonstrated Par’s ability to capitalize when its operations align. Refining led earnings growth, with the Hawaii refinery achieving record quarterly throughput due to stronger regional margins. This is a key point for investors. While retail and logistics connect refineries to customers, and the Hawaii renewable fuels facility offers long-term potential following its April launch, the investment case remains primarily focused on refining performance.
Par Pacific’s recent rally raises expectations for the next phase. The company has demonstrated strong performance when regional refining margins improve and refineries operate efficiently, particularly in Hawaii. The key question is whether this strength can persist beyond the current favorable environment. If Par continues to generate solid earnings from its regional fuel network, refinery throughput, and logistics assets as margins fluctuate, the stock may warrant consideration as more than a short-term refining opportunity.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends QXO and Viking. The Motley Fool has a disclosure policy.
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