PAR PACIFIC HOLDINGS, INC. (PARR)

NYSE · Common Stock · Crude Petroleum & Natural Gas

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

21 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-25 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of PAR PACIFIC HOLDINGS, INC. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Hawaii Renewables, LLC	Delaware
Hawaii Renewables Holdings, LLC	Delaware
Hermes Consolidated, LLC	Delaware
Par Hawaii, LLC	Delaware
Par Hawaii Refining, LLC	Hawaii
Par Hawaii Shared Services, LLC	Delaware
Par Pacific Hawaii Property Company, LLC	Delaware
Par Petroleum Finance Corp.	Delaware
Par Petroleum, LLC	Delaware
Par Piceance Energy Equity LLC	Delaware
Par Tacoma, LLC	Delaware
U.S. Oil and Refining Co.	Delaware
Wyoming Pipeline Company LLC	Wyoming
Laramie Energy, LLC (46.0% interest)	Delaware
Par Rocky Mountain Midstream, LLC	Delaware
Par Montana, LLC	Delaware
Par Montana Holdings, LLC	Delaware
Par Billings Cogeneration, Inc.	Delaware
Yellowstone Logistics Holding Company	Delaware
Yellowstone Energy Limited Partnership (65.0% interest)	Montana
Yellowstone Pipe Line Company (40.0% interest)	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 8

PASSReturn on assets positiveROA 9.6%
PASSOperating cash flow positiveOCF 445M
PASSReturn on assets improving-0.9% → 9.6%
PASSCash flow exceeds earningsOCF 445M vs NI 369M
PASSLong-term debt ratio falling28.9% → 20.8% of assets
FAILCurrent ratio improving1.62 → 1.61
PASSNo share dilution57M → 52M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving2.08× → 1.95×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$3.1B	−$409.1M	−$100.7M	—	53,295,000
FY2021	$4.7B	−$81.3M	−$57.2M	—	58,268,000
FY2022	$7.3B	$364.2M	$399.6M	—	59,883,000
FY2023	$8.2B	$728.6M	$496.9M	—	61,014,000
FY2024	$8.0B	−$33.3M	−$51.8M	—	56,775,000
FY2025	$7.5B	$369.4M	$296.5M	—	51,591,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of PAR PACIFIC HOLDINGS, INC. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,462,315	+60,368	$82.0M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $36.7M
2025Q1: $51.1M
2024Q1: $34.1M
2023Q1: $2.6M
2022Q1: $6.4M
2021Q1: $1.3M

Identity

CIK: 0000821483
LEI: 549300BTNS7MHSHRLR55
FIGI: BBG003C5DL16
SIC: 1311 · Crude Petroleum & Natural Gas
Incorporated: DE
Headquarters: HOUSTON, TX

Ownership

Institutional: 103.9%
Institutions: 513
Insiders: 2.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other crude petroleum & natural gas companies

PAR PACIFIC HOLDINGS, INC. files under SIC 1311 — all 27 crude petroleum & natural gas companies compared on assets and F-score.

OCCIDENTAL PETROLEUM CORP /DE/OXY EOG RESOURCES INCEOG EQT CorpEQT DEVON ENERGY CORP/DEDVN Chord Energy CorpCHRD Crescent Energy CoCRGY

Questions about PAR PACIFIC HOLDINGS, INC.

How many subsidiaries does PAR PACIFIC HOLDINGS, INC. file with the SEC?: 21, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Delaware, Hawaii, Wyoming, Montana). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is PAR PACIFIC HOLDINGS, INC. financially healthy?: PAR PACIFIC HOLDINGS, INC. scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of PAR PACIFIC HOLDINGS, INC.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

21 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-25 — see the exhibit.

Which other public companies file entities in the same places:

Delaware18 Hawaii1 Wyoming1 Montana1

Entity

Jurisdiction

Note

Hawaii Renewables, LLC

Delaware

Hawaii Renewables Holdings, LLC

Delaware

Hermes Consolidated, LLC

Delaware

Par Hawaii, LLC

Delaware

Par Hawaii Refining, LLC

Hawaii

Par Hawaii Shared Services, LLC

Delaware

Par Pacific Hawaii Property Company, LLC

Delaware

Par Petroleum Finance Corp.

Delaware

Par Petroleum, LLC

Delaware

Par Piceance Energy Equity LLC

Delaware

Par Tacoma, LLC

Delaware

U.S. Oil and Refining Co.

Delaware

Wyoming Pipeline Company LLC

Wyoming

Laramie Energy, LLC (46.0% interest)

Delaware

Par Rocky Mountain Midstream, LLC

Delaware

Par Montana, LLC

Delaware

Par Montana Holdings, LLC

Delaware

Par Billings Cogeneration, Inc.

Delaware

Yellowstone Logistics Holding Company

Delaware

Yellowstone Energy Limited Partnership (65.0% interest)

Montana

Yellowstone Pipe Line Company (40.0% interest)

Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 8

PASSReturn on assets positiveROA 9.6%
PASSOperating cash flow positiveOCF 445M
PASSReturn on assets improving-0.9% → 9.6%
PASSCash flow exceeds earningsOCF 445M vs NI 369M
PASSLong-term debt ratio falling28.9% → 20.8% of assets
FAILCurrent ratio improving1.62 → 1.61
PASSNo share dilution57M → 52M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving2.08× → 1.95×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$3.1B

−$409.1M

−$100.7M

—

53,295,000

FY2021

$4.7B

−$81.3M

−$57.2M

—

58,268,000

FY2022

$7.3B

$364.2M

$399.6M

—

59,883,000

FY2023

$8.2B

$728.6M

$496.9M

—

61,014,000

FY2024

$8.0B

−$33.3M

−$51.8M

—

56,775,000

FY2025

$7.5B

$369.4M

$296.5M

—

51,591,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of PAR PACIFIC HOLDINGS, INC. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	1,462,315	+60,368	$82.0M

Questions about PAR PACIFIC HOLDINGS, INC.

How many subsidiaries does PAR PACIFIC HOLDINGS, INC. file with the SEC?

21, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Delaware, Hawaii, Wyoming, Montana). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is PAR PACIFIC HOLDINGS, INC. financially healthy?

PAR PACIFIC HOLDINGS, INC. scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of PAR PACIFIC HOLDINGS, INC.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.