Berkshire Hathaway sold roughly $8 billion worth of Chevron shares in the first quarter of 2026, reducing its stake by about one third to 4.2% of the company [1, 2]. The transactions took place at a volume-weighted average price of $182.59 per share [2].
Despite the reduction, Berkshire remains Chevron’s fourth-largest shareholder, holding a significant position in the oil giant [1, 2]. The sale followed a sharp surge in Chevron’s stock price, which reached record highs in the first quarter of 2026, driven in part by geopolitical tensions [1, 2]. Chevron shares surged in March after US and Israeli military actions against Iran pushed oil prices higher [2].
Berkshire Hathaway originally purchased Chevron shares in 2020, when the stock traded around $65 per share [2]. It increased its stake again in 2022, paying approximately $124 per share amid the uncertainties caused by Russia’s invasion of Ukraine [2].
The sale in early 2026 coincided with Chevron shares hitting an all-time high, allowing Berkshire to realize gains on its multi-year investment. The roughly $8 billion in shares sold equates to about 31.6 billion Malaysian Ringgit [2].
Berkshire's decision to scale back its Chevron position comes as the oil company benefits from elevated prices tied to geopolitical conflict and supply concerns. It will be important to watch Berkshire’s next moves in energy stocks given these shifts.
The recently completed share sales mark the latest adjustment to Berkshire’s oil portfolio, reflecting significant value generated since its initial 2020 purchase and subsequent increases in 2022.
