Berkshire Added to Its Stake in Phillips 66 Every Day From May 19 – June 1
In an SEC Form 4 filing this evening, Berkshire Hathaway reported that it added $43 million to its stake in Phillips 66 (NYSE: PSX) on May 27, 31, and June 1 at $79.74 – $80.16 per share. Berkshire Hathaway now owns 77.6 million shares of PSX, representing 14.8% of its outstanding shares. Berkshire’s PSX investment is valued at $6.3 billion at today’s closing price on the New York Stock Exchange of $80.85. Berkshire has added to its stake in PSX in each of the last nine trading sessions on the New York Stock Exchange, from May 19 – June 1, 2016. Previously, Warren Buffett had disclosed that PSX was his investment and not that of his portfolio managers Todd Combs and Ted Weschler.
Canyon Profits On Covid Crisis Refinancings
Canyon Partners' Canyon Balanced Funds returned -0.91% in October, net of fees and expenses, bringing the year-to-date return to -13.01%. However, according to a copy of the firm's investor correspondence, which ValueWalk has been able to review, the fund quickly bounced back in November, adding 7.3% for the month. Net of fees, the letter reported, Read More