Berkshire Hathaway Has Been Buying Recent Spin Phillips 66, Says Buffett

Saying that the investment was led by Ted Weschler or Todd Combs, Warren Buffett told Bloomberg today that

Warren Buffett speaking to a group of students...

Berkshire Hatahway(BRKB) has increased its holdings of Phillips 66(PSX) while continuing to sell former parent ConocoPhillips(COP).

Berskhire reduced its holding in ConocoPhillips and bought into “some of the refining operation,” Buffett said in an interview on Bloomberg Television’s “In the Loop With Betty Liu” today from the Allen & Co. media conference in Sun Valley, Idaho. One of Buffett’s deputy stock pickers, Ted Weschler or Todd Combs, made the investment, the billionaire said.

Disclosure: The author owns shares of BRKB