Warren Buffett’s Berkshire Hathaway Dumped 16 Stocks in Q1, But the Chevron Sale Was the Largest

The market’s biggest story in 2026 hasn’t just been AI — it has also been the sudden return of energy risk. Oil now trades above $102 per barrel as the Iran war disrupts shipping through the Strait of Hormuz, the narrow waterway that normally handles roughly 20% of global crude flows. That surge in price has forced investors to rethink a sector that many had treated as yesterday’s trade.

Accordingly, when Berkshire Hathaway (BRK.A) recently revealed it had sold billions of dollars worth of energy giant Chevron (CVX) in the first quarter, investors immediately asked the obvious question: Is CEO Greg Abel losing faith in Big Oil? Or is he simply reshaping Berkshire’s portfolio for the post-Buffett era?

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CEO Greg Abel Put His Stamp on Berkshire in Q1

According to Berkshire’s latest 13F filing, Greg Abel — the successor to investing legend and longtime CEO Warren Buffett — moved aggressively during Q1. In fact, the executive completely exited 16 positions, including UnitedHealth Group (UNH), Visa (V), Mastercard (MA), Domino's Pizza (DPZ), and Amazon (AMZN).

The Amazon exit was notable because Berkshire had already reduced its position by 77% in Q4 before eliminating the remaining shares in Q1. Many of the Q1 sales were tied to former Berkshire investing lieutenant Todd Combs, who left for JP Morgan Chase (JPM) in December 2025. Reports suggest Abel may have unwound roughly $14 billion in positions previously associated with Combs.

But Abel wasn’t simply liquidating stocks. The CEO also went shopping. Berkshire more than tripled its stake in Alphabet's (GOOGL) Class A shares and added a new position in Class C (GOOG) stock, while also adding new positions in Macy's (M) and Delta Air Lines (DAL).

This may be the most dramatic overhaul ever made in Berkshire's portfolio.

Chevron Was the Biggest Sale

The largest move wasn’t a complete exit, however. Berkshire cut its Chevron stake by 35% to 84.3 million shares, selling 45.7 million shares during Q1 worth more than $8 billion.

Berkshire still owns about $17 billion worth of CVX stock. That matters because, unlike some of the smaller liquidated holdings, Chevron has long been viewed as a Buffett-approved core position rather than a Todd Combs pick.