By the start of 2026, Warren Buffett’s long-standing positions in two oil giants – Chevron (NYSE: CVX) and Occidental Petroleum (NYSE: OXY) – not only grew to a combined $30.5 billion but soon proved some of his most successful investments.

Specifically, the energy sector has been significantly outperforming the overall U.S. stock market, and the section of the S&P 500 that tracks the industry rallied 34.43% year-to-date (YTD), while the overall benchmark index declined 4.81% in the same period.

For its part, Chevron has emerged as a market leader and rallied 33.72% YTD from $155 to $203.80. As Berkshire Hathaway (NYSE: BRK.A, BRK.B) reported owning 130 million CVX shares in its latest 13-F filing, it means the oil position grew from $19.8 billion to $26.5 billion: by as much as $6.7 billion.

Similarly, Occidental Petroleum is up a staggering 53.64% in 2026 as it rose from $42 to $63.18. Thus, Warren Buffett saw his OXY position grow by almost $6 billion – from $10.9 billion at the end of the previous quarter to $16.7 billion at the end of the first quarter (Q1) 2026.

In total, ‘The Oracle of Omaha’ made nearly $13 billion on his stake in the two oil giants.

How much did Warren Buffett make on two oil giants since first investing in CVX and OXY?

Zooming out makes the fact that Warren Buffett made the right call when investing in CVX and OXY stock abundantly clear.

Indeed, the former CEO of Berkshire Hathaway first took an Occidental Petroleum equity position in Q3 2019, when he acquired approximately 7.47 million shares. Considering OXY was, at the time, changing hands at an average closing price of $47.28 and is, at press time, at $63.18, Buffett saw 33.63% return for a $120 million profit on the original stake.

The situation is relatively similar when it comes to Chevron. Specifically, ‘The Oracle of Omaha’ purchased about 48.5 million CVX shares in Q4 2020 when the oil giant’s equity was closing on average at $80.96.

With Chevron changing hands at $203.80 at the most recent close on March 31, Warren Buffett saw the value of his original shares rocket some 152% for a profit of just under $6 billion.

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