Renowned investor Warren Buffett has made headlines once again with a strategic investment decision. Despite selling 10 million shares of Apple in the fourth quarter of 2023, Buffett maintains confidence in the tech giant and continues to hold it as the largest position in Berkshire Hathaway's portfolio.

Bucking conventional wisdom, Buffett has aggressively increased his stake in oil and gas producer Occidental Petroleum (NYSE: OXY), now holding a stake worth close to $14.9 billion. Occidental ranks as the sixth-largest position in Berkshire's portfolio, showcasing Buffett's confidence in the company's future prospects.

Buffett's investment in Occidental includes a bet on the company's focus on direct air capture (DAC) technology, which aims to remove carbon dioxide from the atmosphere. Occidental's acquisition of Carbon Engineering and plans for the Stratos plant in West Texas demonstrate its commitment to advancing DAC technology, which could play a pivotal role in the future of the oil and gas industry.

While Buffett's affinity for Apple remains strong, his increasing stake in Occidental Petroleum underlines his belief in the company's potential and the opportunities presented by DAC technology. As Berkshire Hathaway continues to ramp up its investment in Occidental, observers are watching closely to see if this move will prove to be as successful as Buffett's bet on Apple eight years ago.