In an SEC Form 4 filing after the market closed on September 14, Berkshire Hathaway (NYSE: BRK.A, BRK.B) reported that it added $78.8 million to its stake in Phillips 66 (NYSE: PSX) on September 12, 13, and 14 at an average price of $77.21 per share. Berkshire Hathaway now owns 80.7 million shares of PSX, representing 15.4% of its outstanding shares. Berkshire’s PSX investment is valued at $6.2 billion at the September 14 closing price on the New York Stock Exchange of $76.97. Previously, Warren Buffett had disclosed that PSX was his investment and not that of his portfolio managers Todd Combs and Ted Weschler.
At the 2021 SALT New York conference, which was held earlier this week, one of the panels on the main stage discussed the best macro shifts coming out of the pandemic and investing in value amid distress. The panel featured: Todd Lemkin, the chief investment officer of Canyon Partners; Peter Wallach, the managing director and Read More