Berkshire Hathaway Inc. (BRK-B) vs Chevron Corporation (CVX)

Berkshire Hathaway Inc. is a publicly traded diversified holding company with major businesses and investments across insurance, freight rail, energy, manufacturing, retail, and financial assets. Its shares give investors exposure to the operating performance of its subsidiaries as well as the value of its large public-equity portfolio. The company's performance is influenced by insurance underwriting results, investment returns, economic activity, interest rates, capital allocation, and broader market conditions.

Chevron Corporation is an integrated energy company engaged in worldwide oil and gas exploration, production, and refining. It is the second-largest oil company in the United States, reporting 2025 net oil-equivalent production of 3.7 million barrels per day, including 8.5 billion cubic feet of natural gas per day and 2.3 million barrels of liquids per day. The company produces energy across North America, South America, Europe, Africa, Asia, and Australia. Chevron’s refining network is concentrated in the United States and Asia, with total global refining capacity of 1.8 million barrels per day at year-end 2025. At the end of 2025, net proved reserves totaled 10.6 billion barrels of oil equivalent, including 5.7 billion barrels of liquids and 29.2 trillion cubic feet of natural gas.