Warren Buffett and Gurus Hold PSX after IPO

Warren Buffett

In the third quarter of 2013, numerous gurus were trading Phillips 66 ( PSX ), around the same time that Phillips 66 Partners completed its initial public offering of Phillips 66 Partners LP common units, trading as PSXP on the NYSE. Phillips 66 will use the master limited partnership to grow its midstream segment, according to a company press release. As of Sept. 30, 2013, Phillips 66 had assets of $51 billion.

Phillips 66's largest guru stakeholder is Warren Buffett 's Berkshire Hathaway Inc. ( BRK.A ) ( BRK.B ), holding 27,163,918 shares of PSX or 4.45% of shares outstanding. In the third quarter, the firm gained 15.7% on a holding that jumped from an average share price of $32.76 in the second quarter of 2012 to the third quarter 2013 price of $57.98.

Here's a Phillips 66 update and a look at the very divided gurus in third quarter trading.

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