The company’s financial filings also showed that Berkshire had dramatically increased its investment in the oil company giant Chevron to nearly $26 billion at the end of the first quarter, up from just $4.5 billion at the end of 2021. That made Chevron Berkshire’s forth largest holding, behind Apple, Bank of America and American Express. Mr. Buffett has recently been making big bets on the energy sector. Last month, the company also bought $7 billion in shares of Occidental Petroleum.Sales and profits at Berkshire’s operating businesses continued to rise in the quarter, bucking the overall contraction in the U.S. economy in the first quarter. Economists said, though, that the drop in gross domestic product hid some underlying strength in the U.S. economy, and …
