Berkshire Hathaway Increases Stake in Phillips 66 by $570 Million

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In SEC Form 4 filings, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has disclosed that on each of the first eight trading days of 2016, through January 13, it has added to its stake in Phillips 66 (NYSE: PSX) at prices of $75 – $80 per share. This additional investment of approximately $570 million has resulted in Berkshire owning 69.0 million shares of Phillips 66, or 12.9 percent of its outstanding shares. Berkshire’s stake in Phillips 66, at its closing price of $78.47 on January 15, is valued at $5.4 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.

 

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