One of the biggest headlines from the 2023 Berkshire Hathaway annual meeting was that the company continued to sell Chevron (NYSE: CVX) stock in Q1 2023. In fact, Chevron has now slipped to its fifth-largest public equity holding, down from its previous rank at number three. 

Even so, Berkshire had $21.6 billion worth of Chevron stock as of March 31. Occidental Petroleum (NYSE: OXY), an oil and gas exploration and production company, is Berkshire's seventh-largest holding with a fair value of of $13.2 billion. 

Asked about Oxy during the annual meeting, Buffett said that Berkshire was happy with its Oxy shares, was not seeking full control of the company, and seemed to indicate it would possibly buy more in the future but didn't feel rushed. After all, Berkshire's investment in Oxy also includes warrants that allow Berkshire to purchase up to 83.86 million shares of Occidental common stock at an exercise price of $59.62 per share (just a tad higher than its current price). 

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Source Fool.com