Pilot Flying J Stock: Can You Buy Shares?

Last Updated on 10/15/2021 by GS Staff

Is Pilot Flying J Publicly Traded?

Pilot Flying J is a private company. According to Forbes, the company is the 10th largest privately held business in America. It is also the largest private convenience store & gas station in America based on revenue. The company is bigger than other familiar private convenience store & gas station names such as Love’s Travel Stops & Country Stores, Wawa, RaceTrac Petroleum, and QuikTrip.

Since Pilot Flying J is a private company, you cannot publicly purchase its stock. It does not trade on a stock exchange, have a ticker symbol, or have a stock price.

Who Owns Pilot Flying J?

The company is primarily owned by the Haslam family. James A. Haslam II opened the first Pilot store in 1958 and he currently is chairman emeritus of the company. His son, Jimmy Haslam, was the company’s chief executive officer for 25 years until recently handing over the position to Shameek Konar, who previously was the company’s chief strategy officer.

Interestingly, billionaire Warren Buffett’s Berkshire Hathaway paid $2.786 billion for a minority stake in Pilot Flying J. This represented a 38.6% stake in the business when Berkshire made the purchase in 2017. The company intends to increase its stake in Pilot Flying J to 80% by 2023. This will make Berskire the majority owner of Pilot Flying J. The Haslam family will maintain a 20% stake once Berkshire acquires its 80%.

Berkshire Hathaway is a publicly-traded company. It has both Class A and B shares that trade on the NYSE. Class A shares trade under the symbol BRK.A and Class B shares trade under the ticker BRK.B. Keep in mind that Berkshire Hathaway is an enormous company with sizeable investments in companies such as Apple, Bank of America, American Express, Coca-Cola, Kraft Heinz, and many others. See the top 50 Berkshire Hathaway holdings on Hedge Follow.

Do not invest in Berkshire Hathaway simply because you think Pilot Flying J is a good business. Even when Berkshire Hathaway acquires 80% of Pilot Flying J, the company will only represent a small portion of the Berkshire Hathaway portfolio of businesses. Be sure to complete proper research and due diligence before investing. Seek professional investing advice if needed.

Will Pilot Flying J Ever Be Public?

Pilot Flying J almost certainly will not be a public company on its own for the foreseeable future. It will remain a part of Berkshire Hathaway who will likely maintain its majority stake in Pilot for the long haul. You can invest in Berkshire Hathaway as previously discussed above, but it is undoubtedly not a pure play on Pilot Flying J.

Store Count and Revenue

Pilot Flying J has 750 locations across 44 states and several Canadian provinces. Annual revenue for the company is estimated to be approximately $30 billion. This convenience store & gas station chain has made the Haslam family billionaires with an estimated net worth of over $12 billion. James A. Haslam III and his wife Dee own the Cleveland Browns, the NFL football team.

Pilot Flying J Competitors

Here are a few competitors of Pilot Flying J that are publicly traded. You can research these companies for potential investment:

Haymaker Acquisition Corp. II (HYAC)One of the largest gas station and convenience store chains in the United States with around 1,400 locations.
Murphy USA (MUSA)Operates gas stations and convenience stores adjacent to many Walmart locations.
Casey’s General Store (CASY)The company has over 2,200 stores in 16 states with most stores located in the Midwest.
TravelCenters of America (TA)TA has over 270 locations in 44 states and in Canada. It operates more than 600 restaurants that include Iron Skillet and Country Pride.
Arko (ARKO)Arko has about 2,950 locations in 33 states.