Berkshire Hathaway Adds to its $6 Billion Stake in Phillips 66

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In an SEC Form 4 filing after the market closed on August 24, Berkshire Hathaway reported that it added $55 million to its stake in Phillips 66 (NYSE: PSX) on August 22, 23, and 24 at $77.04 – $78.16 per share. Berkshire Hathaway now owns 79.5 million shares of PSX, representing 15.1% of its outstanding shares. Berkshire’s PSX investment is valued at $6.2 billion at the August 24 closing price on the New York Stock Exchange of $77.68. Berkshire recently added $250 million to its stake in PSX from May 19 – June 13, 2016. Previously, Warren Buffett had disclosed that PSX was his investment and not that of his portfolio managers Todd Combs and Ted Weschler.

Dr. David Kass

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