Berkshire Hathaway (BRK.A.US, BRK.B.US) reduced its holdings in Chevron Corporation (CVX.US) by approximately $8 billion in the first quarter, bringing its ownership stake down to 4.2%.

Berkshire Hathaway (BRK.A.US, BRK.B.US) significantly reduced its holdings of Chevron Corporation (CVX.US) stocks in the first quarter of this year, selling approximately $8 billion worth of shares. At that time, due to the escalation of tensions in the Middle East, international oil prices surged, and Chevron Corporation's stock price reached a historic high. According to regulatory filings submitted by Berkshire on Friday, the company reduced its stake in Chevron Corporation by about one-third in the first quarter, bringing its ownership percentage down to 4.2%. Despite the significant reduction, Berkshire remains the fourth-largest shareholder of Chevron Corporation. Data shows that in March of this year, following military actions taken by the US and Israel against Iran, concerns about energy supply in the Middle East sharply increased, leading to a surge in international oil prices and pushing Chevron Corporation's stock price to a historic high. Berkshire's timing for reducing its stake was quite precise, successfully locking in some investment gains during a strong period for energy stocks. Berkshire initially started buying Chevron Corporation stocks in 2020 when the price was around $65 per share. The company then slightly reduced its position in 2021. Around the time of the 2022 Russia-Ukraine conflict, Berkshire further increased its position in Chevron Corporation, buying at an average price of around $124 per share. According to data, the average price at which Berkshire sold its shares this time was about $182.59 per share, a significant increase from its initial acquisition cost. It's worth noting that Berkshire has been increasing its exposure to the energy sector in recent years. In addition to Chevron Corporation, the company also holds a significant amount of shares in Occidental Petroleum Corporation (OXY.US).