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Capital One gains as Buffett's Berkshire shows new stake

Published 15/05/2023, 22:36
© Reuters.

Shares of Capital One Financial (NYSE:COF) gained 5.7% after-hours Monday after Warren Buffett's Berkshire Hathaway (NYSE:BRKa) disclosed the credit card firm as its newest stock holding.

Berkshire disclosed in a 13F with the SEC after the close of trading that it owned 9,922,000 shares of COF as of March 31, 2023.

The value of the position worth about $900 million based on Monday's closing price of $89.12.

In addition to the new stake in COF, Berkshire added to its Apple Inc. (NASDAQ:AAPL), Bank of America Corp (NYSE:BAC), and Citigroup Inc. (NYSE:C) stakes, among others.

Apple is by far Berkshire's largest public holding, worth over $157 billion as of Monday's closing price.

The firm also lowered its stake in Chevron Corp. (NYSE:CVX) by about 19% to 132M shares. Its General Motors Company (NYSE:GM) position was also trimmed, among others.

The firm liquidated stakes in Bank of New York Mellon (NYSE:BK), RH (NYSE:RH), Taiwan Semiconductor Manufacturing (NYSE:TSM), and UBS Group AG (NYSE:UBS).

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