Follow the Smart Money
Key Extract
Berkshire Hathaway has built roughly $58 billion of energy exposure, and a money manager just bid about $8 billion for Devon's Pennsylvania shale assets. When paper money starts reaching for the physical barrels, it's worth asking what they see.
Quick question before we start.
When the most watched investors on the planet quietly pile into a sector, do you assume they know something? Or that they don't?
Let's talk about who's been buying energy.
Start with the obvious one. Warren Buffett.
Berkshire Hathaway has built something like $58 billion of energy exposure. A roughly 27% stake in Occidental. A top-five position in Chevron, around 130 million accumulated shares, and they added 8 million shares right before crude ran toward $100. They bought Occidental's chemical arm outright for almost $10 billion.
| Category | Approx. exposure ($ billions) |
|---|---|
| Chevron stake | ~$21B |
| Occidental stake | ~$12B |
| OxyChem acquisition | ~$9.7B |
| Berkshire Hathaway Energy + pipeline/LNG | ~$15B |
Source: Berkshire Hathaway SEC 13F filings & company disclosures, as compiled by The Motley Fool (2026). Figures approximate; equity stakes fluctuate with price.
This isn't a toe in the water. This is one of the largest energy bets in the entire Berkshire portfolio.
And it's working. Chevron and Occidental are two of Berkshire's best performers this year, up 20% and 27%.
Buffett is also not alone.
Stone Ridge Asset Management, a money manager, not an oil company, put in a roughly $8 billion offer for Devon's shale assets in Pennsylvania. Sit with that for a second. A financial firm reaching past the stock and grabbing at the physical production itself.
When the paper money starts wanting the actual barrels, what does that mean?
It means energy has quietly become a place where serious capital wants to be. And the reason isn't complicated.
Look at what the last year has taught everybody. Straits threatened. Pipelines exposed. Diesel spiking. A war that won't quite end. Through all of it, one thing kept getting proven over and over.
The world runs on this stuff.
The smart money already knows it. Now here's your chance to see how they do it.
Next week, we're running a live webinar showing families how to build wealth with oil and gas, the way insiders do it. Same assets. Same strategies. We're opening the curtains behind the scenes.
Your Oil and Gas team, CrownForge Energy.