market folly

John Griffin's hedge fund firm Blue Ridge Capital filed a 13G with the SEC on shares of PBF Energy (PBF).  Per the filing, the hedge fund now shows a 7.82% ownership stake in the company with 3,095,000 shares.

This is a brand new position for Blue Ridge as they did not own a stake as of the end of the third quarter.  The filing was required due to portfolio activity on December 10th.

Per Google Finance, PBF Energy is "an independent petroleum refiners and suppliers of unbranded transportation fuels, heating oils, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company produces a range of products at each of its refineries, including gasoline, ultra-low-sulfur diesel (ULSD), heating oil, jet fuel, lubricants, petrochemicals and asphalt. The Company sells its products throughout the Northeast and Midwest of the United States, as well as in other regions of the United States and Canada, and are able to ship products to other international destinations."

You can view additional recent portfolio activity from Blue Ridge here.