Berkshire Hathaway underperformed the S&P 500 index by 12.4 percentage points in the first half of 2026, with its Class B stock declining 1.8% year-to-date while the benchmark index gained 10.7%. The value investing firm struggled as artificial intelligence and large technology stocks drove market gains during the period. According to CNBC's analysis of Berkshire's mid-year results, the performance gap represents a continuation of the company's 2025 underperformance, when it trailed the S&P 500 by 5.5 percentage points excluding dividends.
Berkshire Hathaway Records 12.4 Point Gap Against S&P 500 in First Half 2026
Berkshire Hathaway's Class B (BRK.B) stock declined 1.8% from the beginning of 2026 through the first half of the year, according to CNBC's analysis. During the same period, the S&P 500 index rose 10.7%, creating a 12.4 percentage point performance gap.
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When comparing total returns including dividends, the S&P 500 index gained 11.4%, widening the gap with Berkshire to 13.1 percentage points. Berkshire managed to recover approximately one-third of its maximum 17.5 percentage point gap from June 1 through strong performance during the month of June.
Second Quarter Shows 13 Point Performance Difference as Tech Stocks Rally
For the second quarter spanning April through June, Berkshire's stock rose slightly over 3% while the S&P 500 index surged 16%, driven by a technology stock rally. The company underperformed the S&P 500 by 5.5 percentage points in 2025 on an ex-dividend basis, or 7.0 percentage points including dividends, marking a second consecutive year of market underperformance.
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Greg Abel and Ted Weschler Represent Berkshire at Sun Valley Conference
Warren Buffett did not attend the annual private gathering hosted by investment bank Allen & Co. in Sun Valley, Idaho this year, ending decades of regular attendance. Greg Abel, Berkshire's CEO and Buffett's successor, and Ted Weschler, chief portfolio manager, attended the event in his place. At the conference known as the "billionaire summer camp," they met with Silicon Valley executives including Amazon.com founder Jeff Bezos, Meta CEO Mark Zuckerberg, and OpenAI CEO Sam Altman.
FAQ
What was Berkshire Hathaway's stock performance in the first half of 2026?
Berkshire Hathaway's Class B stock declined 1.8% year-to-date in the first half of 2026, while the S&P 500 index gained 10.7% during the same period, creating a 12.4 percentage point performance gap.
How did Berkshire Hathaway perform in the second quarter of 2026?
In the second quarter from April through June, Berkshire's stock rose slightly over 3% while the S&P 500 index surged 16%, driven by a technology stock rally.
Who represented Berkshire Hathaway at the Sun Valley conference this year?
Greg Abel, Berkshire's CEO, and Ted Weschler, chief portfolio manager, attended the Sun Valley conference, while Warren Buffett did not attend after decades of regular participation.
