SCHEDULE: Vanguard Group Discloses 11.37% Stake in Phillips 66

The Vanguard Group has reported an 11.37% beneficial ownership stake in Phillips 66 common stock as of June 30, 2025.

Summary

• The Vanguard Group, an investment adviser, reported beneficial ownership of 46,364,555 shares of Phillips 66 common stock.
• This ownership represents 11.37% of the total class of Phillips 66 common stock.
• Vanguard holds sole dispositive power over 44,381,764 shares and shared dispositive power over 1,982,791 shares.
• Vanguard holds shared voting power over 502,875 shares and no sole voting power.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Phillips 66.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure by a large institutional investor, providing factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.
• No one other person's interest in the securities reported herein is more than 5%.
• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

This filing is a routine disclosure of a significant institutional investor's passive stake, common for large asset managers like Vanguard, and does not inherently reflect specific industry trends beyond the general investment in energy sector companies like Phillips 66.

Stakeholder Impact

• For shareholders of Phillips 66, this disclosure confirms a significant, passive institutional ownership by The Vanguard Group, which can be viewed as a vote of confidence in the company's long-term stability by a major asset manager.
• For The Vanguard Group's clients, this filing confirms their indirect beneficial ownership in Phillips 66 through Vanguard's managed funds and accounts.

Key Dates

Keywords

Phillips 66, PSX, Vanguard Group, beneficial ownership, Schedule 13G, common stock, institutional ownership, investment adviser