The S&P 500 is currently riding a wave of optimism, recently crossing the 7,100 mark as global tensions ease and the artificial intelligence boom continues to fuel investor confidence. However, one notable name is conspicuously missing from the party: Berkshire Hathaway.
While the broader market has soared nearly 10% this month alone, Berkshire’s A and B shares have dipped slightly. This performance gap highlights a significant moment in the company’s history. It has now been roughly 100 days since Greg Abel took the helm following Warren Buffett’s retirement at the end of 2025.
Key Insights from the Latest Buffett Watch:
The Performance Gap: Berkshire is currently trailing the S&P 500 by nearly 10 percentage points—the largest performance delta we've seen so far in 2026.
The "Oracle" Transition: Since the announcement of Buffett stepping down in May 2025, shares have retreated about 12% from their record highs, suggesting the market is still calibrating to a Berkshire without Buffett at the steering wheel.
Cash is Still King: Despite the leadership change, the Berkshire "fortress" remains intact with $373.3 billion in cash. While share repurchases resumed in early March, the company is maintaining its signature discipline.
A Focus on the Future: With the annual shareholders meeting just two weeks away, all eyes are on Omaha. Investors are looking for clarity on Greg Abel’s long-term vision and whether the company's massive utility and energy bets will continue to drive value.
As we look toward the upcoming shareholder meeting, the question isn't just about the stock price—it's about the evolution of a culture. Berkshire has always played the long game, and while the "S&P sprint" might leave them behind today, their massive cash pile and diversified holdings suggest they are simply waiting for the right opportunity to strike.
What are your thoughts on Berkshire’s performance in the post-Buffett era? Is this a buying opportunity or a permanent shift in momentum?
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