Berkshire Hathaway Inc (NYSE:BRK.A), a company run by billionaire investor Warren Buffett, disclosed on Monday that it now owns 9.92 million shares, or 2.6%, of Capital One Financial (NYSE:COF) Corp, an equity stake worth about $954 million.
Berkshire revealed its holdings in a regulatory filing listing its US-traded stocks as of March 31, 2023.
Capital One describes itself as the third largest issuer of Visa and Mastercard credit cards in the US.
With its Capital One stock purchase, Berkshire adds to its credit card holdings that include American Express, Visa and Mastercard, in addition to its investments in large US banks such as Bank of America and Citigroup.
In the first quarter, Berkshire also boosted its stake in Bank of America by 2%, despite the value of its position in the financial services giant falling $4 billion during the three-month period.
Shares of Capital One Financial (NYSE:COF), a Virginia-based lender, rose nearly 6% to $94 in early Tuesday trading but have slid about 18% over the past 52 weeks.
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