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Buffett Makes $155 Million on Phillips 66 Bet as Refiner Surges

Billionaire is largest holder, amassing 75.6 million shares
Phillips 66 reports first-quarter earnings on Friday

Phillips 66 has been good to Buffett. It’s gained 7 percent in 2016.
Photographer: Daniel Acker/Bloomberg

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By Meenal Vamburkar and Lily Katz

April 29, 2016 at 9:00 AM UTC

This article is for subscribers only.

Warren Buffett has made $155 million this year from purchasing just one stock.

His Berkshire Hathaway Inc. has continued to add to its investment in oil refiner Phillips 66, which has surged as peers have faltered. The billionaire’s company now owns a 14 percent stake in the company, the sixth-largest holding in its portfolio.