Who Owns Delek Logistics Company?

Who Owns Delek Logistics Partners, LP?

Understanding the ownership of Delek Logistics Partners, LP is key for investors. Formed by Delek US Holdings, Inc. in 2012, it became a publicly traded master limited partnership (MLP) via an IPO on November 1, 2012.

Delek Logistics Partners, LP, a midstream energy firm, operates pipelines and terminals, primarily in the Permian Basin and Gulf Coast. As of July 24, 2025, its market cap was about $2.35 billion, with Delek US Holdings, Inc. holding a majority stake alongside public shareholders.

The ownership structure, including the influence of its parent company and public float, shapes its strategic direction. Analyzing this structure, including the Delek Logistics BCG Matrix, offers insight into its operational priorities and accountability.

Delek Logistics Partners, LP was established in 2012 by Delek US Holdings, Inc. (NYSE: DK). As a master limited partnership, its formation was driven by its corporate parent, which transferred initial logistics and marketing assets to this new entity.

Corporate Parentage

Delek US Holdings, Inc. acted as the foundational owner of Delek Logistics Partners, LP upon its inception in 2012.

Initial Asset Transfer

Key assets, including pipelines and terminals, were transferred from Delek US to the newly formed MLP.

MLP Structure

The formation as a master limited partnership facilitated capital raising through unit sales to investors.

Control and Ownership

Delek US Holdings initially held the general partner interest and a majority limited partner interest, ensuring significant control.

Early Infrastructure

Initial assets included approximately 200 miles of transportation pipelines and a 600-mile crude oil gathering system.

Storage Capacity

Storage facilities with 1.4 million barrels of active shell capacity were part of the initial asset contribution.

Delek US Holdings, Inc. was the driving force behind the creation of Delek Logistics Partners, LP in 2012. This corporate parent contributed a substantial portfolio of logistics and marketing assets, including approximately 200 miles of transportation pipelines, a 600-mile crude oil gathering system, and storage facilities with 1.4 million barrels of active shell capacity. The structure established Delek US Holdings as the owner of the general partner interest, granting management control, and also as a majority limited partner. This initial ownership arrangement ensured that the Delek Logistics parent company maintained a commanding stake and oversight of the newly formed master limited partnership, which was designed to raise capital by selling units to investors. The early asset base also included the Paline pipeline and several light product terminals located in Texas and Tennessee, forming the core infrastructure of the nascent MLP.

Founding Ownership Structure

Delek Logistics Partners, LP was founded by Delek US Holdings, Inc. in 2012, with Delek US holding both the general partner interest and a majority limited partner interest at inception.

• Delek US Holdings, Inc. is the Delek Logistics parent company.
• The initial formation involved transferring logistics and marketing assets.
• Delek Logistics ownership history began with Delek US Holdings as the primary stakeholder.
• The corporate structure was designed to leverage the MLP model for capital acquisition.

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The ownership structure of Delek Logistics Partners, LP has evolved significantly since its 2012 IPO, with key acquisitions and dropdown transactions shaping its stakeholder landscape. These strategic moves have aimed to expand operational capabilities and influence the distribution of ownership interests.

As of March 31, 2025, Delek US Holdings, Inc. maintains a controlling interest in Delek Logistics Partners, LP, holding approximately 63.4% of the partnership, which includes its general partner interest. This substantial stake underscores Delek US Holdings' significant influence over the partnership's strategic decisions. The remaining 37.3% of limited partner interests are held by public investors. Among these public shareholders, institutional investors play a notable role, with 123 entities collectively holding 19,680,466 shares as of July 21, 2025. Prominent institutional shareholders include Alps Advisors Inc., Invesco Ltd., Mirae Asset Global ETFs Holdings Ltd., Goldman Sachs Group Inc., and Morgan Stanley. These acquisitions are anticipated to enhance the partnership's cash flow, with projections indicating that around 70% of its cash flows will originate from third-party sources, thereby increasing its economic independence from its sponsor. Understanding these ownership dynamics is crucial for investors looking to grasp the Marketing Strategy of Delek Logistics and its corporate structure.

Delek Logistics Ownership Breakdown

Delek Logistics Partners, LP's ownership is primarily concentrated with its parent company, Delek US Holdings, Inc. Public investors and institutional shareholders hold the remaining interests.

• Delek US Holdings, Inc. is the majority shareholder.
• Institutional investors hold a significant portion of the public float.
• Key institutional holders include Alps Advisors Inc. and Invesco Ltd.
• The partnership's corporate structure is that of a master limited partnership (MLP).

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The Board of Directors for Delek Logistics Partners, LP, operating under its Master Limited Partnership structure, is intrinsically linked to its parent entity. While specific board member affiliations require detailed review of proxy statements, the influence of Delek US Holdings, Inc. is a defining characteristic of the company's governance.

The voting power within Delek Logistics Partners, LP is heavily concentrated due to its MLP structure and the significant holdings of Delek US Holdings, Inc. As of May 7, 2024, Delek US Holdings, Inc. held approximately 70.4% of the limited partner interest, translating to 34,111,278 common units. This substantial ownership, combined with its general partner interest, grants Delek US Holdings considerable control over decisions requiring a 'unit majority', effectively making it the majority shareholder and central to Delek Logistics ownership.

Understanding Delek Logistics' Corporate Structure

Delek Logistics Partners, LP operates as a Master Limited Partnership (MLP), a structure that influences its ownership and governance. The general partner, Delek Logistics GP, LLC, which is wholly owned by Delek US Holdings, Inc., plays a pivotal role in managing the partnership's operations.

• Delek US Holdings, Inc. is the Delek Logistics parent company.
• The MLP structure inherently centralizes control with the general partner.
• Delek US Holdings, Inc. holds a significant majority of the limited partner interests.
• This ownership structure dictates much of the voting power and strategic direction.
• Understanding this relationship is key to grasping Delek Logistics stock ownership.

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Over the past few years, Delek Logistics Partners, LP has seen shifts in its ownership structure, influenced by strategic decisions and market conditions. These changes impact who controls Delek Logistics and its overall corporate structure.

Recent strategic acquisitions, such as H2O Midstream in September 2024 and Gravity Water Midstream in January 2025, have introduced new common units into circulation. This issuance, part of the consideration for these deals, can affect existing Delek Logistics shareholders' percentage of ownership. The Gravity Water acquisition alone involved 2,175,209 common units. These moves are designed to diversify revenue, aiming for approximately 70% of cash flows to originate from third-party sources, thereby enhancing economic separation from the sponsor and aligning with the Growth Strategy of Delek Logistics.

Delek US Holdings' Strategic Review

In February 2024, Delek US Holdings indicated a potential sale of its stake in Delek Logistics. However, as of March 31, 2025, it maintained a significant 63.4% ownership.

Impact of Acquisitions on Ownership

Acquisitions like Gravity Water Midstream in January 2025, which issued over 2 million common units, can dilute existing ownership percentages for current Delek Logistics shareholders.

Public Offering and Shareholder Base

An October 2024 public offering of 3,846,153 common units at $39.00 per unit expanded the public float, with Delek US Holdings not participating in this specific offering.

Institutional and Insider Activity

As of July 21, 2025, institutional ownership stood at 11.75%, with a 4.72% increase in total shares owned by institutions by August 2024. Insider activity as of June 10, 2025, showed net buying of 16,862 shares over three months.

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