Berkshire Hathaway lags S&P 500 in 2026 despite June gains; Buffett warns AI could fuel financial scams.

In 2026, Berkshire Hathaway's B shares are down 1.8% year-to-date, trailing the S&P 500's 10.7% gain. A strong June helped reduce Berkshire's deficit but it still underperformed in Q2, gaining just over 3% versus the S&P's 16% tech-driven rise. Berkshire CEO Greg Abel and portfolio manager Ted Weschler attended the exclusive Sun Valley conference, while Warren Buffett highlighted AI's potential risks, especially for financial scams, after seeing a convincing AI-generated video of himself. Berkshire continues to hold significant cash reserves and top equity stakes, including a pending $10 billion purchase of Alphabet shares.