Berkshire Hathaway added to its Chevron bet significantly during the first quarter, making the energy stock the conglomerate’s fourth biggest equity holding.

The “Oracle of Omaha’s” Chevron investment was worth $25.9 billion at the end of March, the company’s first-quarter filing Saturday showed, a big jump from its value of $4.5 billion at the end of 2021.

Shares of Chevron have rallied more than 30% this year on the back of surging oil prices, but Berkshire’s position has increased fivefold reflecting Buffett’s buying.

Energy has been a standout winner this year with the S&P 500 energy sector up 35% compared to the broader benchmark’s 13% loss year to date.

Many oil and gas companies are also good income generators, offering attractive dividends. The energy sector yields 4.7%, compared to S&P 500′s 1.5% dividend yield. Chevron pays a 3.6% dividend.

Warren Buffett and Becky Quick at the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska, April 29, 2022.