Berkshire's Cash Stands Over $400 Billion Amid S&P 500's 9% Drop

Warren Buffett, chairman of Berkshire Hathaway (BRKA, BRKB), remained unmoved by the 9% decline in the S&P 500 earlier this year. As of the first quarter of 2026, Berkshire holds nearly $400 billion in cash and Treasury bills, signaling a wait for more favorable market conditions. The S&P 500's forward P/E ratio stands at 21, while Buffett notes that the Buffett indicator is currently around 230%. Historically, levels below 80% on this indicator would suggest a buy opportunity, indicating Buffett sees no compelling investments at present.