- Berkshire Hathaway (BRK.A, BRK.B) discloses a $4.5B stake in Phillips 66 (NYSE:PSX), as Warren Buffett takes a renewed interest in the energy industry after appearing to pull back from the group.
- Berkshire holds nearly 58M shares after purchases this week, or more than 10% of the total outstanding, according to an SEC filing late Friday.
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Earlier this month, Berkshire did not disclose an investment in PSX at the end of Q2 but said it had omitted some data that was reported confidentially to the SEC, which sometimes allows companies to withhold information from the public to limit copycat investing while a firm is building or cutting a position.
- The most recent figure BRK had given for a PSX investment was a 7.5M-share stake at the end of Q1.
- PSX shares fell below $70 on Monday amid the broad selloff before rebounding to end the week at $77.23.