Marram Investment Management's second-quarter 2026 investor letter reports a +2.7% portfolio return (net of fees), resulting in a year-to-date return of +3.2%. A copy of the letter can be downloaded here. Cumulatively, since inception, the firm has achieved a +632.4% return and a +13.7% annualized return, net of fees.
Positive contributions came from MLP Energy Infrastructure, Large Financials, and Biopharma, while Payment Technology investments detracted from performance. The firm emphasizes reasonable pricing and strong fundamentals, aiming for consistent returns while mitigating price volatility, addressing the challenges posed by high valuations and macroeconomic risks. Please review the Fund's top five holdings to learn more about its key selections for 2026.
In its second-quarter 2026 investor letter, Marram Investment Management highlighted Berkshire Hathaway Inc. (NYSE:BRK-B), a multinational conglomerate engaged in insurance, freight rail transportation, and utility businesses. The portfolio initiated a position in Berkshire Hathaway Inc. (NYSE:BRK-B) during the quarter. On September 21, 2026, Berkshire Hathaway Inc. (NYSE:BRK-B) closed at $502.01 per share.
Over the past month, Berkshire Hathaway Inc. (NYSE:BRK-B) declined 0.46%, but its shares are up 1.60% over the past year. Berkshire Hathaway Inc. (NYSE:BRK-B) has a market capitalization of $965.95 billion, and its stock has traded within a 52-week range of $464.01 to $537.74. Marram Investment Management stated the following regarding Berkshire Hathaway Inc. (NYSE:BRK-B) in its Q2 2026 investor letter: "Berkshire Hathaway Inc. (NYSE:BRK-B).
We purchased more shares of Berkshire Hathaway, increasing our investment to 5.5% NAV. Berkshire owns a portfolio of businesses, selected by two of the greatest investment minds in the past century for their durable competitive moats and inflationary pricing power. The company has recently begun repurchasing its own shares again, a signal that management sees value at current prices." Berkshire Hathaway Inc. (NYSE:BRK-B) ranks 19th on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026.
According to our database, 135 hedge fund portfolios held Berkshire Hathaway Inc. (NYSE:BRK-B) at the end of the second quarter, compared to 126 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.
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