Phillips 66

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 2,095 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Phillips 66's Chemicals segment IS the 50% Chevron Phillips Chemical Company LLC (CPChem) joint venture; there is no separate wholly owned chemicals business. CPChem's $7,899 million carrying value at 31 Dec 2025 is by far the largest of Phillips 66's disclosed equity-method positions.
• WRB Refining LP (Wood River and Borger refineries) was a 50/50 joint venture with subsidiaries of Cenovus Energy Inc. through 30 September 2025. On 1 October 2025, Phillips 66 acquired the remaining 50% interest for $1.3 billion and began consolidating WRB, so it is no longer an equity-method investment and is excluded from holdings here as a now wholly owned operating subsidiary. Its 2024 year-end equity-method carrying value was $2,323 million, shown for reference only.
• Gulf Coast Express Pipeline LLC (GCX): Phillips 66's subsidiary DCP Midstream, LP sold its 25% interest in GCX on 30 January 2025. It is no longer held and is excluded from holdings; its 2024 carrying value was $776 million.
• Coop Mineraloel AG: a 49% Swiss fuel-marketing joint venture, sold 31 January 2025. No longer held; not sized in this file because the disposal predates both filings reviewed.
• DCP Midstream, LP is EXCLUDED from holdings, but is not simply a wholly owned subsidiary either, so the reasoning is recorded here. The FY2025 10-K describes DCP Midstream, LP as 'a consolidated subsidiary in which we hold an aggregate direct and indirect economic interest of 86.8%'; it is majority-owned and consolidated (not equity-method), and Phillips 66 also files as a reporting person on DCP Midstream, LP's own Schedule 13D (most recent amendment, No. 14, filed 15 June 2023, accession 0001193125-23-167540, when Phillips 66's economic interest was smaller and DCP LP was still separately publicly traded). DCP LP was subsequently taken fully private in the 2024 DCP Midstream, LLC and DCP Midstream, LP mergers (see the 10-K's Note 3) and is now operated as part of Phillips 66's Midstream segment, which is why it is treated as an operating subsidiary rather than a holding, consistent with the brief's exclusion of wholly owned (here, majority-owned and consolidated) operating subsidiaries.
• The per-investee equity-investments table (Chevron Phillips Chemical, Dakota Access, JET Management Holding, Front Range Pipeline, CF United, OnCue) is from the FY2025 10-K (period ended 31 December 2025, filed 20 February 2026) and is the most recent per-investee breakdown available; the FY2025 10-K reports total 'Equity investments' of $11,425 million at 31 Dec 2025 (down from $14,013 million at 31 Dec 2024, mainly reflecting the WRB consolidation). The Q2 FY2026 10-Q (period ended 30 June 2026, filed 5 August 2026) confirms CPChem is still held at 50% but does not restate a full per-investee carrying-value table; no 10-Q for Q3 FY2026 had been filed as of 17 August 2026.
• Elliott Investment Management L.P. ran a public activist campaign against Phillips 66 starting in November 2023 (a roughly $2.5 billion initial stake reported in the press, later board representation and calls to spin off or improve Midstream performance). Checked Elliott's own EDGAR filing history (CIK 0001791786) for Schedule 13D/13D-A/13G/13G-A naming Phillips 66 as subject: none were found; only Form 13F-HR filings disclose the position. The register therefore uses Elliott's own most recent 13F-HR (filed 14 August 2026, for the quarter ended 30 June 2026): 19,251,000 shares, $3,254,381,550, consistent with the campaign but not itself proof of the campaign's current size or intent, only of the reportable equity position.
• Phillips 66 has a single class of common stock, $0.01 par value, one vote per share. There is no dual-class structure and no founder control block.
• Register denominators, kept apart per the brief: Vanguard's 13F is dated 31 December 2025 (its most recent 13F-HR; CIK 0000102909 filed only 13F-NT notices for the March and June 2026 quarters) and its percentage uses 400,744,022 shares outstanding from the FY2025 10-K cover (as of 31 January 2026). BlackRock, State Street, Elliott, Geode, Morgan Stanley, FMR and JPMorgan are all dated 30 June 2026 and use 399,020,916 shares outstanding from the Q2 FY2026 10-Q cover. The insider rows use the 2026 proxy's own denominator of 400,982,591 shares as of the 20 March 2026 record date.
• Proxy disagreement, recorded rather than resolved. The 2026 DEF 14A's own 'Securities Ownership of Certain Beneficial Owners' table lists Vanguard at 51,721,704 shares (12.90%) sourced to a Schedule 13G/A filed 30 October 2025 (as of 30 Sep 2025), BlackRock at 34,996,228 shares (8.73%) sourced to a Schedule 13G/A filed 26 January 2024, and State Street at 29,374,604 shares (7.33%) sourced to a Schedule 13G/A filed 30 January 2024, the latter two considerably staler than the June 2026 13F-HR data used in the register above. The register uses each manager's own, more recent Form 13F-HR data instead, per the brief's preference for primary filings and freshest dates.
• The market capitalisation of $93.22 billion is the figure published by stockanalysis.com as of 14 August 2026 (close price $233.61). Cross-check: 399,020,916 shares (30 Jun 2026 count, slightly fewer than the underlying count on 14 Aug 2026 after continued buybacks) times $233.61 implies approximately $93.2 billion, consistent.
• Insider rows overlap. 'Directors, Nominees and Executive Officers as a Group (22 Persons)' (1,217,087 shares: 357,953 owned plus 859,134 under exercisable options) contains the individually listed insiders (Lashier, Mitchell, Mandell) above and must not be summed with them; it is marked as an aggregate with a residual_label. The proxy table itself individually lists all current directors and the 5 named executive officers (20 people in total); this register includes only the top 3 by beneficial ownership plus the aggregate, so most of the proxy's named directors are folded into the residual_label rather than given their own rows here.