In SEC Form 4 filings, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has disclosed that on each of the first seven trading days of 2016, through January 12, it has added to its stake in Phillips 66 (NYSE: PSX) at prices of $75 – $80 per share. This additional investment of approximately $450 million has resulted in Berkshire owning 67.4 million shares of Phillips 66, or 12.6 percent of its outstanding shares. Berkshire’s stake in Phillips 66, at its closing price of $79.28 on January 14, is valued at $5.3 billion.
Berkshire has been reporting its updated holding with a two-day lag. Since it holds over 10% of the shares of Phillips 66, it is required to report changes to its position on SEC Form 4.
Baupost’s Seth Klarman: the Fed has broken the stock market [Q4 Letter]
Baupost founder Seth Klarman told investors that the large amounts of stimulus that have been poured into the world's economies are masking the severity of the problems caused by COVID-19. Q4 2020 hedge fund letters, conferences and more In a letter seen by the