Business

Warren Buffett just disclosed his newest $4.5 billion investment pick

 

businessinsider.com – Julia La Roche

On Friday evening, billionaire investor Warren Buffett, the founder of Berkshire Hathaway, disclosed that he had purchased a massive stake in oil refinery Phillips 66 (PSX).

Buffett now owns 57,975,456 shares, or a 10% stake, in the Texas-based energy company, according to a securities filing posted shortly after 8 p.m. ET.

As of Friday’s share price close at $77.23, Buffett’s stake is valued at more than $4.47 billion.

Buffett had been aggressively buying shares of Phillips 66 since Wednesday of this week.

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