With Tesla TSLA shares down -7.55% (ticker TSLA) this year, Berkshire Hathaway BRK.B -1.13% (ticker BRK/A, BRK/B) market value is approaching that of the electric car leader.

Berkshire, led by longtime CEO Warren Buffett, is showing its defensive qualities in a bear market, with its Class A shares down about 8% this year to $415,000 — versus a nearly 25% decline in the S&P 500 index.

Tesla shares are down 42% this year to $206, reflecting recent disappointments in car deliveries and a sharp decline in growth stocks. CEO Ilon Musk’s Twitter chase (TWTR) hasn’t helped.

Berkshire has what the 92-year-old Buffett calls a Fort Knox balance sheet with more than $100 billion in cash and cash equivalents, mostly U.S. Treasury bills. Investors will be interested to know how much of this cash Buffett has posted in the second quarter, when Berkshire presents its financial results in early November.