Welcome, fellow investor! Are you curious about the holdings of one of the world's most legendary investors, Warren Buffett, and his company, Berkshire Hathaway? You've come to the right place. We're going to dive deep into Berkshire Hathaway's stake in Chevron, an energy giant that has become a significant part of their portfolio.
Let's get started.
Step 1: Discovering the Latest Numbers - Where to Look
So, you want to know the exact number of Chevron shares Berkshire Hathaway owns? This is the most crucial step, because the answer isn't static. It's a dynamic figure that changes every quarter as Warren Buffett and his team, Todd Combs and Ted Weschler, make adjustments to their massive portfolio.
The key to finding this information is to look at the 13F filings with the U.S. Securities and Exchange Commission (SEC). Every quarter, institutional investment managers with over $100 million in assets under management must file this report, disclosing their equity holdings. This is the official source of truth for tracking major investors like Berkshire Hathaway.
So, what's the latest data? Based on the most recent publicly available filings, as of the first quarter of 2025 (effective March 31, 2025), Berkshire Hathaway owned 118,610,534 shares of Chevron Corporation (CVX).
This position was valued at a staggering $19.84 billion, making Chevron one of the top holdings in Berkshire's portfolio.
Step 2: A Look at the Trend - Tracking Berkshire's Chevron Journey
Berkshire Hathaway's investment in Chevron wasn't a one-time purchase. It has been a strategic dance of buying and selling over several quarters. Understanding this history is crucial to grasping Buffett's thinking.
Sub-heading: The Initial Entry and Massive Buildup
Berkshire Hathaway first began building its position in Chevron in late 2020. However, the most significant increase came in the first quarter of 2022, when Berkshire acquired a massive number of shares, more than tripling its stake and making Chevron a top holding almost overnight. This move was a clear signal of Buffett's conviction in the energy sector amid a volatile geopolitical landscape and rising energy prices.
Sub-heading: Trimming the Position
Following the major buildup, Berkshire Hathaway has periodically trimmed its Chevron position. This isn't necessarily a sign of a loss of confidence. For an investor like Buffett, trimming a position can be a way to take profits, rebalance the portfolio, or raise cash for other opportunities. For instance, in the second quarter of 2024, Berkshire sold 4.37 million shares, and in the first quarter of 2024, they sold 3.11 million shares.
Sub-heading: Why the Back and Forth?
Warren Buffett's investment philosophy is rooted in a long-term, value-oriented approach. He often buys when he sees a stock trading below its intrinsic value and sells when he believes the price has gone up. The back-and-forth in the Chevron stake demonstrates this disciplined approach. While they have trimmed their position, the fact that they have held onto a significant portion of their stake shows continued belief in Chevron's business model and the long-term prospects of the energy industry.
Step 3: Decoding the "Why" - Buffett's Rationale
Why Chevron? When you look at Buffett's investment choices, you see certain patterns. He favors businesses with a strong "economic moat" - a sustainable competitive advantage that protects them from rivals.
Sub-heading: The Economic Moat of Chevron
Chevron, as a vertically integrated energy company, possesses a powerful economic moat. It's involved in every step of the energy process, from drilling and refining to transportation and marketing. This diversification makes the company more resilient to price fluctuations in a single part of the business. When oil prices are high, its upstream drilling operations soar in profitability. When prices are low, its downstream refining and marketing segments help buffer the blow. This stability is a key attraction for a value investor like Buffett.
Sub-heading: A Play on the Energy Market
Buffett's investment in Chevron is also a strategic bet on the long-term importance of fossil fuels. Despite the global push for renewable energy, the world still runs on oil and gas. Chevron, with its vast reserves and global operations, is well-positioned to meet this demand for years to come. The company's strong dividend is another attractive feature for an income-focused investor.
Step 4: The Impact - What Does This Mean for You?
So, what does Berkshire Hathaway's ownership of Chevron shares mean for the average investor?
Sub-heading: Not a Signal to blindly Follow
First and foremost, it's not a signal to blindly follow suit. While Buffett is a brilliant investor, his decisions are based on Berkshire Hathaway's unique needs, massive scale, and overall portfolio strategy. Your personal financial goals, risk tolerance, and time horizon are likely very different.
Sub-heading: A vote of confidence
However, it is a significant vote of confidence in Chevron. When an investor of Buffett's caliber takes a large stake in a company, it suggests that he sees long-term value in the business. It prompts other investors and analysts to take a closer look at the company's fundamentals and prospects.
10 Related FAQ Questions
How to find Berkshire Hathaway's latest 13F filing? You can find Berkshire Hathaway's latest 13F filing on the SEC's EDGAR database website by searching for "Berkshire Hathaway Inc." and looking for the Form 13F-HR.
How to interpret a 13F filing? A 13F filing shows the number of shares held by a fund as of the last day of the quarter. It also lists the market value of those holdings. Comparing filings from one quarter to the next allows you to see what stocks a fund has bought, sold, or held.
How to know if Berkshire Hathaway is buying or selling a stock? By comparing the number of shares listed for a specific company in the current 13F filing to the number listed in the previous quarter's filing, you can determine if Berkshire Hathaway has increased, decreased, or maintained its position.
How to understand Warren Buffett's investment philosophy? Warren Buffett's philosophy, often referred to as "value investing," focuses on buying companies with strong fundamentals and a sustainable competitive advantage at a price below their intrinsic value. He is a long-term investor who believes in holding stocks for many years.
How to track other stocks in Berkshire Hathaway's portfolio? You can track all of Berkshire Hathaway's publicly disclosed stock holdings by reviewing their 13F filings. Financial news websites and investment platforms also often summarize these holdings for easy access.
How to get started with investing in the energy sector? To start investing in the energy sector, you can research and buy stocks of individual companies like Chevron, or consider an exchange-traded fund (ETF) that tracks the energy sector to diversify your investment.
How to check a company's dividend history? You can check a company's dividend history on financial websites like Yahoo Finance, Morningstar, or the company's own investor relations page. Look for the dividend yield and the company's track record of paying and increasing dividends.
How to calculate a stock's market capitalization? A stock's market capitalization is calculated by multiplying the company's share price by the total number of outstanding shares.
How to read a company's financial report? To read a financial report, focus on the income statement (revenue, profit), balance sheet (assets, liabilities), and cash flow statement (cash from operations, investing, and financing). These documents provide a comprehensive view of a company's financial health.
How to find a stock's ticker symbol? A stock's ticker symbol is a unique code that identifies it on a stock exchange. You can find it by searching for the company's name on any financial news website or trading platform. For example, Chevron's ticker is CVX.
