Is Berkshire still a value play (top holdings + huge cash pile)?

I’m trying to figure out if BRK.B/BRK.A is still a value play today, or if it’s basically “quality + capital allocator + downside cushion.” Top 10 equity holdings (13F view): Apple, American Express, Coca-Cola, Bank of America, Chevron, Occidental, Moody’s, Chubb, Kraft Heinz, Alphabet (GOOGL). AAPL — 22.57% AXP — 18.64% KO — 11.40% BAC — 10.76% CVX — 8.10% OXY — 4.41% MCO — 3.78% CB — 3.70% KHC — 2.90% GOOGL — 1.99% If \~31% is basically T-bills/cash and \~23% is a concentrated mega-cap equity basket, where’s the “value” edge right now? How are you valuing BRK at current prices and how do you treat that cash pile (full value, discounted, or “optionality premium”)?