Omaha

It has been an up and down year for Warren Buffett’s portfolio. Many of his biggest positions have been trimmed aggressively. But according to recent filings, his holding company, Berkshire Hathaway, is loading up on one of Buffett’s favorite stocks. Last quarter, it boosted its position by more than $500 million.

On paper, this stock has it all. It’s priced at a discount to the market, offers a compelling dividend yield, and could generate impressive growth over the next few years.

This has been one of Warren Buffett’s favorite stocks since 2020

Berkshire Hathaway first took a position in Chevron (CVX 0.94%) back in 2020, not long after the nadir of the COVID-19 flash crash. Buffett’s estimated purchase price was around $80. But over the years, he has managed the position aggressively. In early 2021, for instance, just one year after his initial purchase, Buffett slashed his Chevron stake by more than 50%. Towards the end of 2021, however, he began rebuilding his position. Several more purchases and sales occurred in 2022, including the massive acquisition of 121 million shares in the first quarter.

Notably, Berkshire has been a net seller in recent quarters. In six of the past seven quarters, for example, Berkshire has sold more Chevron stock than it purchased. But that all changed this quarter when Buffett purchased nearly 3.5 million shares worth roughly $520 million. It was one of the biggest stock purchases of the quarter for Buffett, giving Berkshire a 7% stake in the entire business.

Why did Buffett load up on this giant oil stock that he knows so well? The numbers below paint a compelling picture.

Chevron stock looks very attractive for certain investors

After several consecutive winning years, the stock market as a whole isn’t obviously a value right now. The S&P 500, for example, trades at 31 times earnings — well above its long-term average. Chevron stock, meanwhile, trades at just 19 times earnings. Revenue growth is stagnant right now, but free cash flow remains high, helping to support a 4.5% dividend yield.

Part of the challenge with Chevron stock right now isn’t under its direct control. Oil prices slid heavily this year, falling under $60 per barrel. Oil inventories continue to rise, with meaningful surpluses expected in 2026 due to rising production globally. In total, it’s a tough place to be for businesses that sell oil.

As an integrated producer, with interests in refining, chemical production, and even energy generation for artificial intelligence applications, Chevron has long been able to manage industry cyclicality with ease. Chevron’s CEO focuses on cost controls and capital efficiency to ensure profits remain stabilized even with low oil prices. But unless those oil prices move higher, expect so-so results from Chevron — a big reason why shares have traded sideways since 2022.

Here’s the thing: Chevron stock is still a very compelling purchase for certain investors. If you’re finding it difficult to find market values, are worried about a potential bear market, or believe geopolitical tensions are about to rise, allowing oil prices to recover quickly, Chevron shares could be a fit. While shares aren’t a steal, they are arguably fairly valued at 19 times earnings. The dividend yield and free cash flow consistency, meanwhile, can help offset losses during a market downturn. And given ongoing geopolitical disputes, it’s not unreasonable to expect sudden shifts in oil demand and supply.

All in all, this looks like a classic move for Buffett in this market environment. He understands Chevron’s business model well, and with a rising cash hoard, it’s clear that he’s finding it difficult to spot market bargains. Chevron is as close to a value stock in today’s environment as it gets.

Since coming to Westwood, Roch Cholowsky has had Omaha on his mind.

The Big Ten Player of the Year — a projected No. 1 overall pick in the 2026 MLB draft by some analysts — turned Charles Schwab Field in Omaha into a playground during the Big Ten tournament, winning player of the tournament honors despite UCLA not claiming the championship.

So far, in the NCAA tournament, Cholowsky had been uncharacteristically quiet for his standards. He still made hard plays look easy as a “premium shortstop” — as UCLA coach John Savage glowed about his defensive skills — but his bat wasn’t making its usual noise.

Lagging behind for Cholowsky isn’t the same for the rest of Division I baseball. The Arizona-raised team captain was still hitting .333 through the regionals and super regionals entering Sunday. A big swing, however, had yet to come — Cholowsky flying out to the deep outfield on numerous occasions across the last two weeks.

“He’s just trying to do too much, probably,” Savage reasoned after Game 1 of the Los Angeles super regional on Saturday. “All he cares about is winning. That’s all what these guys all care about. We like an average Roch. Average Roch is pretty good.”

Cholowsky finally had his moment Sunday. He did a little too much, as Savage said, trying to catch Texas San Antonio’s defense sleeping and got picked off at third base in the fifth. But his big swing finally arrived — a swing that helped deliver the Bruins to Omaha.

“I ran out and told [starting pitcher Conor Myles] not to throw a strike to Roch,” said Pat Hallmark, Texas San Antonio coach. “He threw him a strike.”

Cholowsky’s RBI single off that strike in the fifth, a part of his two-for-five day, clinched UCLA’s spot in the Men’s College World Series with a 7-0 victory over Texas San Antonio . The two-game sweep of the Roadrunners gave the Bruins their sixth berth to Omaha and first since 2013, when they won it all.

UCLA players celebrate after defeating Texas San Antonio to win the L.A. Super Regional on Sunday to advance to the Men’s College World Series.

(Ross Turteltaub / UCLA Athletics)

“It’s not easy, but I think we have the right cast of characters in terms of just people, great people on this team, people that want to represent UCLA,” Savage said.

Cholowsky, whose trip to Omaha as a high school senior convinced him of going to UCLA rather than becoming a likely first-round MLB draft selection, will now get his wish. The shortstop fell to the ground as Phoenix Call caught the final out in shallow right field, holding his head to the dirt. Cholowsky then leapt up, his teammates already celebrating at the center of the diamond. He joined them, jumping in glee; his dreams, realized.

“This is surreal to me,” Cholowsky said. “It’s just something that I’ve dreamed of for as long as I can remember, and then just getting back there and getting to go experience that a couple years ago just added that much more fire to the dream. I haven’t wrapped my head around it.”

Savage said UCLA being able to live a full week in Omaha during the Big Ten tournament last month gave the Bruins an idea of what the College World Series environment will be like.

“I think it’s huge for us,” Cholowsky said. “Using that next week I feel like going to help us. Same ballpark, same everything.”

Whereas Cholowsky may be one of the most well-known Bruins baseball players in recent memory, it was a little-playing junior who broke a scoreless game. Outfielder Toussaint Bythewood, a Harvard-Westlake alumnus, dunk a soft line drive into right field for a two-out RBI single against Myles.

UCLA sophomore infielder Roman Martin follows through on a hit against Texas San Antonio on Sunday.

(Ross Turteltaub / UCLA Athletics)

Bythewood, who had started twice all season and taken just 12 at bats entering the game, provided the Bruins with their winning swing. UCLA added two insurance runs in the eighth and three in the ninth to build enough distance for its arms to pitch a little more comfortably as the Roadrunners ran out of outs.

“Toussaint’s been really consistent in practice,” Savage said. “He should have had more opportunities at the end of the day. He was ready for that opportunity — hadn’t come up with a huge hit. So happy for Toussaint.”

A UTSA offense that was dominant in an Austin Regional sweep a week ago, exited with a whimper, rallying just four hits against UCLA’s pitching staff. Starting pitcher Landon Stump couldn’t get through the fifth, but the Bruins’ relief pitchers carried the brunt of the battle to shut out the Roadrunners.

Left-hander Chris Grothues tied a career high with 2 ⅔ scoreless innings, striking out two and making a nifty play to catch a popped-up bunt to end the sixth. Righties Cal Randall and August Souza bridged the gap to the ninth, where freshman closer Easton Hawk shut the door.

“They pounded a zone pretty good,” Savage said. “We walked two guys in two games, and it just seemed like we were very competitive. … Today, just a lot of contributions from a lot of different guys.”

Across the final five innings, the Bruins’ bullpen no-hit the Roadrunners.

Savage, who is in the 12th and final year of the contract extension that UCLA rewarded him with after winning the 2013 national championship, will get his long-awaited chance to revisit old memories and create new ones as the Bruins attempt to win their second national championship beginning next weekend in Omaha.

“It just tells you one thing — how difficult it is to get there,” Savage said about finally returning to Omaha after 12 years. “It’s great to be back and looking forward to the challenge.”

What advice does Savage have for his team at the Men’s College World Series?

“Enjoy the moment, enjoy the process, enjoy the journey,” he said.

Twelve years ago, John Savage was the man in Westwood.

Fresh off the Bruins’ first College World Series title in 2013, then-UCLA athletic director Dan Guerrero rewarded the coach with a lucrative 12-year contract extension.

It’s been a grueling journey since.

UCLA has tallied numerous No. 1 national rankings, seven NCAA tournament berths, four first-round draft picks and one super regional appearance since then, but not a single return to Omaha. The last two years of Bruins baseball were poor by the program’s standards — missing the postseason in back-to-back years and ending 2024 with a losing record for the first time since 2016.

UCLA pitcher Wylan Moss celebrates after an out against UC Irvine on Sunday night.

(Carlin Stiehl / Los Angeles Times)

Something had to give in 2025, the final year of Savage’s contract, as UCLA tried to build upon a sophomore class that has helped transform it into one of the best offenses in the nation.

UCLA entered the NCAA tournament with reason to be optimistic. With star players such as Roch Cholowsky on the roster, perhaps a return to the College World Series wasn’t out of the question.

On Sunday, the Omaha oracle pointed UCLA’s way, the Bruins inching one step closer to advancing to the College World Series. Bullying second-seeded UC Irvine with its bats like it had against every team in the Los Angeles Regional, first-seeded UCLA won 8-5 to advance to the NCAA super regionals for the first time since 2019. UCLA will host the Los Angeles Super Regional against Texas San Antonio at Jackie Robinson Stadium this week.

“I’m very proud of our team, very proud of our guys winning 19 games last season and coming back,” Savage said. “It’s just a team — and they’re playing together. … Proud of our program, proud of my coaches.”

UTSA defeated Texas 7-4 in the Austin Regional final, taking down the national second-seed Longhorns to advance to its first-ever super regional.

If UCLA beats UTSA, it’ll advance to the College World Series in Omaha for the first time since 2013.

UCLA pitcher Easton Hawk delivers against UC Irvine on Sunday.

(Carlin Stiehl / Los Angeles Times)

UCLA’s offense was just as ready to explode — like they did versus Fresno State and Arizona State — against a depleted UC Irvine pitching staff (with high-leverage bullpen arms Ricky Ojeda and David Utagawa unavailable after pitching earlier Sunday). Rallying for six hits across the first two innings, the Bruins put together three runs thanks to RBI singles from Roman Martin and Cashel Dugger, and a sacrifice fly from Roch Cholowsky.

UCLA first baseman Mulivai Levu helped place the game in blowout territory — an 8-0 lead — when he connected for a three-run home run in a five-run fourth inning. Much like UCLA had done all weekend, the lineup kept on churning.

Levu led all Bruins with three RBIs, while Cholowsky went one for three with two RBIs from sacrifice flies.

“Everyone has a great approach at the plate,” Levu said. “It’s kind of hard for the other team to get past us.”

Freshman Wylan Moss set the tone for UCLA’s combined pitching effort. Moss, who entered the contest with a 2.25 earned-run average and an All-Big-Ten Freshman Team recognition, was as good as advertised to stymie UC Irvine, which came off an 11-run offensive showing earlier in the day.

The 6-foot-3 righty struck out the top of the Anteaters lineup — Will Bermudez, Chase Call and Jacob McCombs — swinging on change ups. Moss, who had yet to pitch in the NCAA Tournament, was lying in wait for a game of magnitude.

He pitched 3 ⅓ innings, giving up two runs and two hits, while walking three and striking out four. From there, a five-pitcher bullpen effort kept Irvine at bay, pitching 5 ⅔ innings of five-run ball the rest of the way to wrap up regional action in Westwood.

UCLA players and coaches celebrate after their Los Angeles Regional victory over UC Irvine on Sunday.

(Carlin Stiehl / Los Angeles Times)

Things got more complicated for UCLA in the sixth, when freshman right-hander Cal Randall gave up a solo home run to UC Irvine designated hitter Alonso Reyes to make it a three-run game, but right-hander Jack O’Connor entered to extinguish the threat — and set down UC Irvine outfielder Chase Call on a fielder’s choice to close out the inning.

It wasn’t easy sailing for the Bruins in the late innings.

Graduate student right-hander August Souza bailed UCLA out of a bases-loaded jam by freezing the potential go-ahead run, Blake Penso, on a full-count, 87-mph fastball in the seventh.

When the Bruins needed it the most, Souza struck out two in a scoreless eighth, putting metaphorical champagne on ice in Westwood.

“Just honestly blessed to play this year,” said Souza, who didn’t pitch in 2024 because of injury. “It’s my sixth year. Didn’t think I’d play in college this long, and just happy to get this win with my team and celebrate getting to a super regional.”

Freshman right-hander Easton Hawk tossed a perfect ninth, striking out James Castagnola to end it, prompting the Bruins to run onto the field in celebration. UCLA owned the Los Angeles Regional title.

“I liked everything today,” said UC Irvine coach Ben Orloff, who praised Savage as one of the best coaches in the nation. “Besides the third out.”

What makes the 2025 Bruins different from other UCLA teams? Savage said leadership and teamsmanship could make the Bruins national title contenders.

Cholowsky, with pitchers Cody Delvecchio and Michael Barnett, helped transform the team’s culture as team captains, Savage said. They accomplished this despite having to endure the legal saga that temporarily forced the Bruins out of Jackie Robinson Stadium in the fall.

Now, postseason baseball will remain in Westwood for at least one more weekend.

Highlights from UCLA’s 8-5 win over UC Irvine in the Los Angeles Regional on Sunday.

“We got knocked out of the stadium the first day of school,” Savage said. “It was unfortunate, but they came together, man, and they did a remarkable job of just building this team. I gotta tip my hat to the players. The players did a remarkable job.”

But it’s not time to celebrate just yet. If UCLA wants to go to the College World Series, Savage said, the focus needs to shift to beating UTSA.

“Like I told them, ‘there’s nothing to really celebrate,’” Savage said. “You can enjoy this, but at the same time, we got to get back to work on Tuesday.”

May 14 (UPI) — Democrat John Ewing Jr. defeated incumbent Republican Omaha Mayor Jean Stothert to become Omaha’s first Black mayor.

Ewing, a former Omaha deputy police chief and current Douglas County, Neb., treasurer, defeated Stothert by an unofficial margin of 48,693 to 37,758, as reported by the Douglas County Election Commission. The commission will canvass and make the election official on May 29.

Ewing will also be the first Democrat to serve as Omaha mayor since 2013. Stothert had won three consecutive terms before this loss. Stothert had been the first woman elected city mayor.

Democrats also won four of the seven City Council seats.

The mayor’s office is nonpartisan, but the candidates’ parties came into play as an ad from Stothert stated that “Ewing stands with radicals who want to allow boys in girls’ sports.” KETV-TV reported that Ewing said in response that “Nobody’s ever brought that question up. So I believe it’s a made-up issue by Jean Stothert and the Republican Party.”

Ewing ran an ad that connected Stothert to President Donald Trump, to which she told KETV that “Donald Trump does not call me and ask for advice.”

Omaha and its suburbs make up Nebraska’s 2nd Congressional District, and it carries a presidential electoral vote, which can be won by a party different than who may carry the state-wide election and its four electoral votes.

The state generally leans Republican, but Democrats have won the 2nd Congressional District with some regularity, as Kamala Harris did in 2024, Joe Biden in 2020 and Barack Obama in 2008. On the other hand, Republican Donald Trump won in 2016 and GOP member Mitt Romney took the vote in 2012.