Berkshire Hathaway (BRK.A, BRK.B) significantly reduced its holdings in Chevron (CVX) during the first quarter, with total sales amounting to approximately $8 billion. At that time, international oil prices surged amid escalating tensions in the Middle East, driving Chevron's stock to a record high. According to regulatory filings submitted by Berkshire on Friday, the company cut its Chevron stake by about one-third in Q1, lowering its ownership to 4.2%. Despite the substantial reduction, Berkshire remains the fourth-largest shareholder in Chevron. Data shows that in March, following military actions by the United States and Israel against Iran, concerns over energy supply from the Middle East intensified sharply, leading to a sharp rise in oil prices and pushing Chevron's stock to an all-time high. Berkshire's timing of the divestment was notably precise, allowing it to lock in gains during the energy sector's strong rally. Berkshire initially began purchasing Chevron shares around 2020, when the stock was trading near $65 per share. The company then slightly reduced its position in 2021. Around the time of the Russia-Ukraine conflict in 2022, Berkshire further increased its stake in Chevron, with an average purchase price of about $124. According to data, Berkshire's recent sales were executed at an average price of approximately $182.59 per share, significantly above its early acquisition costs. Notably, Berkshire has been steadily increasing its exposure to the energy sector in recent years; in addition to Chevron, the company maintains a substantial long-term holding in Occidental Petroleum (OXY).