" Summary
After outlining why Industrials and Utilities could lead in 2026 (XLI/XLU), this article goes a step further.
Berkshire Hathaway is used as a proxy to test whether those sector calls are already visible in real cash flows.
The XLI thesis was about pricing power and stabilization. Here, the focus shifts from ETFs to operating businesses, showing how railroads, factories, and logistics can confirm — or challenge — that view.
The XLU thesis centered on regulated returns and capex. This article digs deeper into utilities math, capital structure, and reinvestment, adding layers that sector ETFs alone cannot reveal.
In this article, we want to see where the sector thesis meets real numbers, analyzing if BRK could be an even better way to play the long XLI/XLU thesis."

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