Warren Buffett’s Berkshire Hathaway Inc. has disclosed a new stake in Capital One Financial Corp., the latest in a series of investments by the billionaire investor in the financial sector.
Berkshire’s 13F filing with the Securities and Exchange Commission shows that it owns 9.9 million shares of Capital One, worth about $900 million as of March 31. The stake represents a 0.2% ownership in the McLean, Virginia-based bank.
The investment is a vote of confidence in Capital One, which has been one of the best-performing banks in the country in recent years. The company has been praised for its strong risk management and its focus on customer service.
Berkshire’s investment in Capital One comes at a time when the bank is facing increased competition from rivals such as JPMorgan Chase & Co. and Citigroup Inc. However, Capital One has a strong track record of innovation and has been able to adapt to changing market conditions.
The investment is also a sign that Buffett is still bullish on the financial sector. Berkshire has been a major investor in banks for many years, and the company’s latest investment suggests that Buffett believes that the sector is still a good place to put money.
Capital One shares rose more than 5% in after-hours trading following Berkshire’s disclosure.
About Berkshire Hathaway
Berkshire Hathaway is a holding company led by Warren Buffett. The company owns a wide range of businesses, including insurance, railroads, utilities, and manufacturing.
Berkshire is one of the largest companies in the world, with a market capitalization of over $700 billion.
About Capital One
Capital One is a bank holding company that offers a variety of financial products and services, including credit cards, auto loans, and mortgages. The company is headquartered in McLean, Virginia, and has operations in the United States, Canada, and the United Kingdom.
Capital One is one of the largest banks in the United States, with assets of over $300 billion.
