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Provident Co Invests $2.6M in Delek US
Description
Provident Co, the pension fund for Hebrew University employees, recently acquired a significant stake in Delek US Holdings, a downstream energy company specializing in refining and distributing gasoline, diesel, and jet fuel. This new position, valued at $2.6 million, accounts for 5.17% of their reportable assets and is expected to benefit from Deleks refinery expansions and EPA exemption push. Despite posting a net loss, Deleks shares have surged by 153.2% over the past year, outperforming the S&P by over 126 points.
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