Welcome to our dedicated page for CrossAmerica Partners LP SEC filings (Ticker: CAPL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
CrossAmerica Partners LP filings document material-event disclosures for a publicly traded limited partnership in motor fuel distribution, convenience retailing, and fuel-site real estate. Recent Form 8-K reports furnish operating results, earnings presentation materials, and Regulation FD disclosures tied to Wholesale and Retail segment performance, adjusted EBITDA, distributable cash flow, leverage, and distribution coverage.
The filing record also includes 8-K disclosures on quarterly cash distributions approved by CrossAmerica GP LLC and officer or director changes at the general partner and subsidiary level. These documents frame CAPL's common-unit distributions, general-partner governance, executive compensation arrangements, and public-company reporting obligations.
CrossAmerica Partners (CAPL) reported Q3 2025 results. Operating revenues were $971.8 million, down 10% year over year, while operating income rose to $28.1 million. Net income was $13.6 million, or $0.34 per common unit. Gross profit was $104.8 million, with lower fuel pricing and volumes partly offset by gains on asset sales.
For the first nine months of 2025, revenues were $2.80 billion and operating income was $71.6 million, supported by $40.8 million of net gains on dispositions and lease terminations. Interest expense declined to $11.8 million in Q3, aided by lower average SOFR and reduced borrowings. CAPL sold 29 sites in Q3 and 96 year‑to‑date for proceeds of $21.9 million and $94.5 million, respectively. Cash from operations was $62.1 million year‑to‑date; capital expenditures were $28.7 million.
Debt under the Credit Facility was $705.5 million at September 30, 2025; availability was $215.1 million, and the effective interest rate was 5.8%. The partnership paid a quarterly cash distribution of $0.5250 per unit. As of October 31, 2025, 38,120,481 common units were outstanding.
CrossAmerica Partners LP declared a quarterly cash distribution of $0.5250 per unit attributable to Q3 2025, equal to an annualized $2.10 per unit and unchanged from the second quarter. The distribution is payable on November 13, 2025 to unitholders of record as of November 3, 2025. The announcement was furnished under Regulation FD and is not deemed filed for liability purposes.
CrossAmerica Partners (CAPL): Insider transaction reported. Director and 10% Owner John B. Reilly, III reported buying 1,871 Common Units on 10/10/2025 at a weighted average price of $19.7397, executed under a Rule 10b5-1 trading plan.
Following the purchase, beneficial ownership is reported as 4,969,188 Common Units held indirectly by the 2008 Irrevocable Agreement of Trust of John B. Reilly Jr. The reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
CrossAmerica Partners LP (CAPL): Director and 10% owner Joseph V. Topper, Jr. reported buying 1,801 common units on 10/10/2025 at a weighted average price of $19.7369 under a Rule 10b5-1 trading plan. The purchases were executed in multiple trades between $19.72 and $19.75.
Following the transaction, 1,859,450 common units were beneficially owned indirectly through Energy Realty Partners, LLC. The reporting person disclaims beneficial ownership beyond his pecuniary interest.
CrossAmerica Partners LP announced a leadership change. On September 29, 2025, Stephen J. Lattig, Senior Vice President of Retail for the Partnership’s subsidiaries, notified the company of his intention to resign effective October 31, 2025. The company stated that Mr. Lattig’s decision to resign was not the result of any disagreement with management or the board of directors.
John B. Reilly III, a director and reported 10% owner of CrossAmerica Partners LP (CAPL), purchased common units on August 12, 2025 under a Rule 10b5-1 trading plan. The filing shows an acquisition of 2,706 common units at a weighted average price of $20.0084 per unit, executed in multiple trades that day at prices ranging from $19.825 to $20.3531.
Following the reported purchases, the filing states an indirect beneficial ownership position of 4,967,317 units held through a 2008 irrevocable trust; the reporting person disclaims beneficial ownership except for his pecuniary interest. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Reilly and explicitly notes the trades were made pursuant to an established 10b5-1 plan.
Joseph V. Topper Jr., a director and listed 10% owner of CrossAmerica Partners LP (CAPL), purchased 2,706 common units on 08/12/2025 at a weighted average price of $20.0084 under a Rule 10b5-1 trading plan. The filing states these units were acquired in multiple transactions on that date at prices ranging from $19.82 to $20.35.
After the reported purchase, the report shows 1,857,649 common units beneficially owned indirectly through Energy Realty Partners, LLC; the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest. The Form 4 was signed by an attorney-in-fact on 08/13/2025.
CrossAmerica Partners LP (CAPL) – Form 4/A, filed 29-Jul-2025: Director Kenneth G. Valosky reported the conversion of 3,419 phantom units into common units on 23-Jul-2025 (transaction code “M”). The phantom units vested one-for-one into limited-partner common units, increasing his direct ownership from 20,385 to 23,804 units. No open-market purchase or sale price was disclosed, and no derivative positions remain listed after the conversion.
The filing is an administrative update reflecting equity granted as compensation rather than a discretionary market transaction. While the additional holdings modestly align the director’s interests with unitholders, the size (<1 % of CAPL’s ~38 M unit float) and routine nature limit market impact.
CrossAmerica Partners LP (CAPL) – Form 4/A (amendment)
Director and 10 % owner Joseph V. Topper Jr. reported the automatic conversion of phantom units into 3,419 common units on 23 Jul 2025 (transaction code M). The filing corrects the originally misstated trade date of 21 Jul 2025. Following the vesting, Topper’s direct ownership stands at 93,404 common units; no indirect holdings were disclosed. No new derivative positions were opened, and no sale occurred.
The transaction value is modest relative to CAPL’s market capitalization, but insider acquisitions—especially by a long-tenured director and large unitholder—can signal confidence and improve alignment with public investors. Because this is purely a date-correction amendment, the economic substance is unchanged from the initial Form 4.