Berkshire Hathaway, trading at a price-to-tangible-book ratio of 1.68 versus its five-year average of 1.86, is positioned as the best-performing stock in a bear market among the S&P 500's $1 trillion market-cap companies.

Berkshire Hathaway has a market capitalization of just over $1 trillion and is led by Greg Abel, who became CEO after Warren Buffett stepped down at the end of 2025.

Berkshire owns durable businesses across multiple sectors—including GEICO (the second-largest private passenger auto insurance company in the U.S.), large energy assets, a mortgage business, and the Burlington Northern Santa Fe Railroad (the largest railway company in the U.S.)—that can perform across various interest rate environments.

At the end of the first quarter of 2026, Berkshire's cash, equivalents, and short-term investments in U.S. Treasury bills approached nearly $400 billion. The company earns tens of billions of dollars a year in profits, even after removing investment gains.

Berkshire stock is down 4.5% year-to-date, compared with the S&P 500's 10.5% gain.