Berkshire Hathaway is making a historic comeback: Berkshire Hathaway outperformed the S&P 500 by +19.2 percentage points over the 1 month ending Thursday, its largest rolling monthly outperformance since 2010. This also ranks as the 4th-largest such outperformance in 30 years. By comparison, its biggest monthly rolling outperformance occurred during the 2008 Financial Crisis, at +29.6 percentage points. As of Tuesday's close, the performance gap narrowed to +16.9 percentage points, but it still ranked as one of the largest since 1996. This comes as Berkshire Hathaway's Class B stock has surged +13.2% over the last month, to an all-time high, while the S&P 500 has declined -3.7% over the same period. To put this into perspective, Berkshire was underperforming the S&P 500 by -14.3 percentage points in May 2026. Berkshire Hathaway appears strong, even without Warren Buffett as CEO.