Here’s Why Berkshire Hathaway (BRK-B) Declined in Q2

Group 1: Market Overview - The US large-cap equity market experienced significant growth in Q2 2025, with the S&P 500® Index increasing by 10.94% [1] - The surge in the equity market was attributed to reduced concerns regarding the potential imposition of harsh tariffs by President Trump, as the administration paused tariff implementation [1] Group 2: Macquarie Core Equity Fund Performance - The Macquarie Core Equity Fund's Institutional Class achieved a return of 11.94% in Q2 2025, outperforming the S&P 500 Index [1] - Sector selection contributed to 80% of the fund's relative performance, while individual security selection accounted for the remaining 20% [1] Group 3: Berkshire Hathaway Inc. Insights - Berkshire Hathaway Inc. (NYSE:BRK-B) was highlighted in the Macquarie Core Equity Fund's investor letter, noting a one-month return of 0.31% and a 52-week gain of 7.73% [2] - As of September 18, 2025, Berkshire Hathaway Inc. shares closed at $490.50, with a market capitalization of $1.059 trillion [2] - The fund expressed concerns regarding Berkshire Hathaway's future leadership following the death of Charlie Munger and Warren Buffett's impending retirement at the end of 2025, indicating a shift in the company's investment profile [3] Group 4: Hedge Fund Interest in Berkshire Hathaway - Berkshire Hathaway Inc. ranked 15th among the 30 Most Popular Stocks Among Hedge Funds, with 133 hedge fund portfolios holding the stock at the end of Q2 2025, up from 125 in the previous quarter [4] - Despite recognizing Berkshire Hathaway's potential, the analysis suggested that certain AI stocks may offer greater upside potential and lower downside risk [4]