Hold BRK.B by Dec 5, 2026.

Been doing my own SOTP on Berkshire using Q2 2026 earnings. Wanted to share the framework and see what others think about the multiples. Let me know if you think this is too optimistic or conservative. **The Four Operating Segments (Q2 2026, annualized)** Segment Q2 2025 Q2 2026 YoY Multiple Value Insurance (underwriting + investment income) $21,464M $19,200M -10.5% 10x $192B BNSF $5,888M $6,240M +6.0% 16x $100B Energy (BHE) $2,808M $3,564M +26.9% 10x $36B Manufacturing / Service / Retail $14,420M …