Berkshire Hathaway shifts investments from US stocks to Treasuries, sells Chevron shares.

Berkshire Hathaway, led by Warren Buffett, sold $13.3 billion worth of U.S. equities in Q1 2023, while adding only $2.9 billion to existing exposure, netting more than $10 billion of sales. The conglomerate allocated approximately $4.4 billion to share repurchases, while its cash holding jumped to $130.6 billion, the highest level since late 2021. Buffett is shifting away from equities due to the juicy yield that treasuries offer, and he expects the majority of holdings to report lower earnings this year. However, Berkshire's Q1 2023 operating earnings increased 13% YoY, aided by a recovering insurance business. Buffett continues to like Apple, even at a ~30 P/E, and praised CEO Vicki Hollub of Occidental Petroleum, but has no plans to make an offer for complete control.