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

Macquarie Asset Management, an investment management company, released its “Macquarie Core Equity Fund” investor letter for the second quarter of 2025. A copy of the letter can be downloaded here. The US large-cap equity market surged in Q2 2025, with the S&P 500® Index rising 10.94%. The equity market’s strength was due to reduced concerns over the possibility of President Trump quickly imposing harsh tariffs. Later, the administration put a pause on the tariff implementation. In this environment, the Macquarie Core Equity Fund’s Institutional Class returned 11.94% surpassing the benchmark, the S&P 500 Index. Eighty percent of the relative performance was driven by sector selection, and individual security selection accounted for the remainder. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its second-quarter 2025 investor letter, the Macquarie Core Equity Fund highlighted stocks such as Berkshire Hathaway Inc. (NYSE:BRK-B). Berkshire Hathaway Inc. (NYSE:BRK-B) engages in the insurance, freight rail transportation, and utility businesses. The one-month return of Berkshire Hathaway Inc. (NYSE:BRK-B) was 0.31%, and its shares gained 7.73% of their value over the last 52 weeks. On September 18, 2025, Berkshire Hathaway Inc. (NYSE:BRK-B) stock closed at $490.50 per share, with a market capitalization of $1.059 trillion.

Macquarie Core Equity Fund stated the following regarding Berkshire Hathaway Inc. (NYSE:BRK-B) in its second quarter 2025 investor letter:

"Berkshire Hathaway Inc. (NYSE:BRK-B), which we did not own, declined during the quarter. We believe the recent death of legendary investor Charlie Munger and the impending retirement of Warren Buffett at the end of 2025 makes the company a different investment vehicle than past years when it benefited from steady and proven leadership."

Berkshire Hathaway Inc. (NYSE:BRK-B) is in 15th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 133 hedge fund portfolios held Berkshire Hathaway Inc. (NYSE:BRK-B) at the end of the second quarter which was 125 in the previous quarter. While we acknowledge the potential of Berkshire Hathaway Inc. (NYSE:BRK-B) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Berkshire Hathaway Inc. (NYSE:BRK-B) and shared the list of stocks Jim Cramer recently discussed. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None. This article is originally published at Insider Monkey.