Berkshire Hathaway Trails S&P 500 by 12 Points at 2026 Midyear
Berkshire's B shares are down 1.8% year-to-date, lagging the S&P 500's 10.7% gain by more than 12 percentage points past the halfway mark.
Berkshire Hathaway's Class B shares have slipped 1.8% year-to-date as 2026 crosses its midpoint, putting Warren Buffett's conglomerate more than 12 percentage points behind a broadly rallying U.S. stock market. The S&P 500 has surged 10.7% over the same stretch, underscoring a widening performance gap that will draw scrutiny from long-term Berkshire shareholders accustomed to the company beating or matching the benchmark index.
The 12.4-percentage-point deficit is a notable reversal for a stock that has historically served as a benchmark proxy in its own right. While Berkshire has recently been described as gaining ground, the trajectory heading into the second half still leaves it in negative territory — a rare position for the Omaha-based holding company amid a market environment that has favored growth and technology-heavy indexes.
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Analysts and investors will be watching whether Berkshire can close the gap in the back half of the year, particularly as macroeconomic conditions, interest rate decisions, and any major capital deployment by the company could shift momentum. Berkshire's massive cash reserves have long been both a cushion and a drag, limiting upside participation in equity rallies while positioning the firm for opportunistic acquisitions.
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