DK at a glance
Delek US Holdings, Inc. (DK, SEC CIK 1694426) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on September 29, 2026 and Form 4 insider filings as recently as September 15, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Delek US Holdings, Inc. (DK) reported revenue of $10.7 billion (down 9.5% from FY2024) and a net loss of $22.8 million. Diluted EPS was -$0.38.
- As of June 30, 2026, 29 institutional investment managers tracked by SignalX reported holding Delek US Holdings, Inc. (DK) shares worth $1.4 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by FINNERTY WILLIAM J on September 11, 2026 of 1,602 shares at $77.59 per share.
- In the last 90 days, DK insiders reported 0 open-market purchases ($0) and 20 open-market sales ($24.6M) on Form 4, a net sale of $24.6M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $10.7B
- −9.5% vs prior year
- Insiders · 90 days
- 0 buys · 20 sells
- Net −$24.6M
- 13F holders
- 29 funds
- $1.4B · +0 vs prior quarter
- Latest 8-K
- Sep 29, 2026
- Item 3.02 · Item 8.01 · Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business refining and logistics operations reliant on crude oil supply chains and third-party delivery systems
- Emphasized significant investments in Permian Basin infrastructure with risk of overcapacity and competitive pressure on transportation rates
- Strategic review process underway to unlock stockholder value, risking management distraction and stock price volatility
- Inventory Intermediation Agreement with Citi for crude and refined product financing until January 2028, impacting liquidity and working capital
- Increasing insurance premiums and risk of reduced coverage due to Gulf Coast operational hazards and market conditions
Risk Factors
- EPA consent decree June 2019, $0.5M penalty plus significant pollution control capital at Big Spring refinery over 3 years
- Russia-Ukraine War and OPEC+ disputes causing global oil price volatility impacting Gulf Coast-focused operations
- Reliance on WTI crude pricing, with narrowing/inversion vs Brent causing negative earnings and cash flow impacts
- Competitor and regulatory-driven volatility in renewable identification number (RIN) credit costs under EPA RFS obligations
- Hazardous waste remediation liabilities under RCRA and CERCLA at current/former sites with ongoing and potential future costs
Management Discussion & Analysis
- Revenue impact implied by increased refining margins in 2025 vs 2024 due to higher crack spreads; exact revenue figure not disclosed
- EBITDA growth supported by margin enhancements and small refinery exemptions, margin specifics not quantified in text
- Best segment: Logistics with $300.8M acquisition (Gravity) expanding midstream services and $700M debt raise for refinancing; Refining improved margins but no dollar profits disclosed
- Capital returned $141.4M in 2025 through dividends and buybacks; $209.3M cash for Gravity purchase; asset purchases from Logistics totaling $110M planned
- Management cautious on geopolitical and commodity risks; focus on operational excellence, financial flexibility, "sum of parts" strategy, EOP cost reductions, and balanced capital allocation
AI summary of the DK 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Refining segment benefited from increased crack spreads and favorable crude differentials
- Logistics capital structure: $800.0M 6.875% notes issued, funding redemptions of 2028 and 2029 notes
- Shareholder returns: $51.2M through dividends and share buybacks as of June 30, 2026
- Near-term headwinds: geopolitical instability, commodity volatility, and RFS-2 compliance requirements
Risk Factors
- Newly added geopolitical risk: U.S.-Iran conflict and Strait of Hormuz disruption spiking crude prices from early-2026 levels
- Most materially updated market risk: Sustained volatility may reduce refinery utilization and demand for transportation, storage, and terminalling services
- Regulatory and compliance risk: Potential government-imposed price controls following terrorist attacks, armed conflict, or significant energy-price disruptions
- Operational risk: Direct attacks or sabotage against refineries, pipelines, terminals, or third-party assets could disrupt crude supplies and refined-product markets
- Financial risk: Terrorism, sabotage, or war could increase insurance costs and impair access to capital for debt repayment or refinancing
AI summary of the DK 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 3.02: Unregistered Sales of Equity Securities
- Unregistered convertible Notes sold under Securities Act Section 4(a)(2) and Rule 144A to qualified institutional buyers
- Notes and potential conversion shares lack registration, limiting resale liquidity and broad investor access
Item 8.01: Other Events
- Debt offering closed September 29, 2026, following pricing announcement September 24
- Initial purchasers exercised the full 13-day option for additional notes, increasing total borrowing
Item EX-99.1: Item EX-99.1
- Proposed $400 million convertible senior notes due November 1, 2031, with initial purchasers’ option for an additional $60 million
- Net proceeds targeted for capped calls and partial repayment of Term Loan Credit Facility, improving refinancing flexibility
Item 1.01: Entry into a Material Definitive Agreement
- $460M zero-coupon convertible notes due November 1, 2031, reducing cash interest burden but adding future equity dilution risk
- Initial conversion price $85.31, a 27.5% premium to $66.91 share price, limiting near-term conversion likelihood
Item 2.02: Results of Operations and Financial Condition
- Earnings call scheduled for August 5, 2026
- Supplemental financial information available at ir.delekus.com
Item EX-99.1: Item EX-99.1
- Q2 net income $169.5M versus $(106.4)M; adjusted EPS $5.48 versus $(0.56), reflecting sharply improved refining economics
- Refining adjusted EBITDA $566.2M versus $114.8M, aided by 136.0% higher benchmark crack spreads
Item 2.02: Results of Operations and Financial Condition
- August 5, 2026 earnings call accompanied by supplemental financial presentation
- Presentation availability at ir.delekus.com provides investors additional operating and financial context
Item EX-99.1: Item EX-99.1
- Q2 net income $169.5M versus $(106.4)M; adjusted EPS $5.48 versus $(0.56), marking a sharp earnings recovery
- Refining adjusted EBITDA $566.2M versus $114.8M, driven by crack spreads up 136.0% year over year
AI summaries of DK 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for DK
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| FINNERTY WILLIAM J | Sell | Sep 11, 2026 | 1,602 | $77.59 |
| FINNERTY WILLIAM J | Sell | Sep 11, 2026 | 1,341 | $76.67 |
| Russell Amber | Sell | Sep 11, 2026 | 5,392 | $75.50 |
| Spiegel Reuven | F | Sep 10, 2026 | 969 | $74.89 |
| Hobbs Mark Wayne | F | Sep 10, 2026 | 1,227 | $74.89 |
| Russell Amber | F | Sep 10, 2026 | 1,736 | $74.89 |
| Wright Robert G. | F | Sep 10, 2026 | 311 | $74.89 |
| Soreq Avigal | F | Sep 10, 2026 | 5,626 | $74.89 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $11.9B | $10.7B |
| Operating Income | - | -$491.5M | $301.0M |
| Net Income | $19.8M | -$560.4M | -$22.8M |
| Op. Margin | - | -4.1% | 2.8% |
| Net Margin | - | -4.7% | -0.2% |
| Balance Sheet | |||
| Total Assets | $7.2B | $6.7B | $6.8B |
| Equity | - | $575.2M | $547.3M |
| ROE | - | -97.4% | -4.2% |
| Per Share | |||
| EPS | $0.30 | $-8.77 | $-0.38 |
| Cash Flow | |||
| Operating CF | - | -$66.8M | $535.8M |
| CapEx | $419.6M | $427.7M | $529.5M |
Source: XBRL data in Delek US Holdings, Inc. (DK)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate DK share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 29 | $1.45B |
| Q1 2026 | 29 | $1.25B |
| Q4 2025 | 26 | $836.9M |
| Q3 2025 | 28 | $867.4M |
| Q2 2025 | 26 | $570.8M |
| Q1 2025 | 23 | $367.4M |
| Q4 2024 | 18 | $394.6M |
| Q3 2024 | 17 | $226.6M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 196 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
DK filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 29, 2026 | - | Analysis | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 15, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 9, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 25, 2026 | - | - | - |
| 4 | Aug 25, 2026 | - | - | - |
| 4 | Aug 20, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 8-K | Aug 7, 2026 | - | Analysis | - |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 23, 2026 | - | Analysis | - |
| 8-K | Jul 2, 2026 | - | Analysis | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
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DK SEC filings: frequently asked questions
Are DK insiders buying or selling?
In the last 90 days, Delek US Holdings, Inc. (DK) officers, directors and 10% owners reported no open-market purchases and 20 open-market sales worth $24.6 million by 9 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold DK stock?
As of June 30, 2026, the largest Delek US Holdings, Inc. (DK) holders among the 13F filers tracked by SignalX were BlackRock ($275.2 million), Vanguard Portfolio Management LLC ($197.1 million), State Street Corp ($163.8 million), Vanguard Capital Management LLC ($135.1 million), Two Sigma Investments ($110.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was DK's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Delek US Holdings, Inc. (DK) reported revenue of $10.7 billion (down 9.5% from FY2024) and a net loss of $22.8 million. Diluted EPS was -$0.38. The figures come from the XBRL data in the 10-K.
What are the main risks in DK's latest 10-K?
In the 10-K filed February 27, 2026, Delek US Holdings, Inc. (DK) flagged: EPA consent decree June 2019, $0.5M penalty plus significant pollution control capital at Big Spring refinery over 3 years. Russia-Ukraine War and OPEC+ disputes causing global oil price volatility impacting Gulf Coast-focused operations. (AI summary of the Risk Factors section.)
What did DK report in its latest 8-K?
Delek US Holdings, Inc. (DK) filed an 8-K on September 29, 2026 reporting Item 3.02 (Unregistered Sales of Equity Securities), Item 8.01 (Other Events) and Item 1.01 (Entry into a Material Definitive Agreement). Unregistered convertible Notes sold under Securities Act Section 4(a)(2) and Rule 144A to qualified institutional buyers.
What are the latest DK SEC filings?
Delek US Holdings, Inc. (DK) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on September 29, 2026 and a Form 4 insider filing on September 15, 2026.
What is DK's SEC CIK number?
Delek US Holdings, Inc. (DK)'s SEC Central Index Key (CIK) is 1694426. EDGAR lists every DK filing under that number.
Ask anything about DK
The research agent reads DK's filings, financials, insider trades and 13F holders, then answers with sources.