AI stocks are stumbling after months of gains, but Berkshire Hathaway's defensive structure—heavy cash holdings and privately owned businesses—positions it to weather market weakness.

Why it matters

Berkshire Hathaway holds $339.3 billion（約54兆円） of its $397.4 billion（約64兆円） in liquidity in U.S. Treasury bills yielding just under 4%, and roughly one-third of the conglomerate's value comes from privately owned businesses like Geico Insurance and Pilot Travel Centers that do not trade publicly. This structure means Berkshire's stock price does not swing as much when markets turn bearish, and its large cash position gives it the ability to deploy capital if market weakness creates buying opportunities.