Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Buffett buys stake in Capital One, sells other banks

Buffett buys stake in Capital One, sells other banks

Berkshire Hathaway details selling frenzy in filing

Warren Buffett’s Berkshire Hathaway purchased 9.9 million shares of Capital One Financial Corp. and dropped its stakes in the Bank of New York Mellon and U.S. Bancorp, according to a regulatory filing.

The Capital One stake would be worth $954 million, based on the closing price on March 31.


Berkshire also disclosed a $41.3 million stake in Diageo Plc, the maker of alcoholic beverages including Johnnie Walker and Guinness, in Monday's filing.

Meanwhile, Buffett's company was a net seller of stocks in the quarter, buying $2.87 billion and selling $13.28 billion as it devoted resources elsewhere, including $8.2 billion to boost its stake in truck stop operator Pilot Travel Centers to 80% from 38.6%.

According to the filing, nearly half of Berkshire’s stock sales were in Chevron Corp and Occidental Petroleum, although Buffett maintains a 23.7% stake in Chevron.

Chevron Corp's refinery is shown in Richmond, California August 7, 2012.


Despite the quarter’s high volume of stock sales, Berkshire still invested in several financial services companies including Bank of America and American Express, where Berkshire's respective $29.5 billion and $25 billion stakes make them its largest stock holdings other than a $151 billion stake in Apple.


Newsletter

Related Articles

0:00
0:00
Close
WHO Warns About Fake Diabetes and Weight-Loss Drugs
United States Bans Kaspersky Antivirus
Vermont Representative Apologizes for Soaking Colleague's Bag
Global Displacement Crisis: Record Numbers in 2023
Iranian-Swedish Academic Criticizes Swedish PM Over Exclusion from Prisoner Swap
Italian Activist Ilaria Salis Returns Home After Election to European Parliament
England Faces Serbia in Euro Opener with Defensive Concerns
Dermatologist Warns Against Sunbed Usage
UK Man Jailed for Non-Consensual Condom Removal
US, Britain, Canada Accuse Russia of Interference in Moldova’s Election
EU Urged to Welcome Skilled Russians to Weaken Putin
EU Elections Overview: Far-Right Gains and Major Political Shifts
Israel Rescues Four Hostages from Gaza
Emmanuel Macron Calls for Snap Election
Jordan Bardella: Young Far-Right Leader Poised for Future Political Influence in France
Dutch Military Intel Uncovers Extensive Chinese Cyber Espionage
Turkish Student Arrested for Using AI to Cheat in University Exam
Rise in Dengue and Other Mosquito-Borne Diseases in Europe Due to Climate Change
Far-Right National Rally Dominates France's EU Vote
Macron Calls Snap Legislative Elections After Far-Right Victory
Far-Right Gains Significantly in EU Election
Orban’s Fidesz Party Wins Majority in Hungary’s EU Elections as New Challenger Emerges
Meloni's Far-Right Party Wins European Elections in Italy
Key Insights from the European Union Elections
European Union Elections and Rise of Far-Right Parties
Macron Dissolves Parliament and Calls Snap Elections
Russia Adds Yulia Tymoshenko to Wanted List
Danish Prime Minister Mette Frederiksen Assaulted in Central Copenhagen
Germany and France Oppose EU Luxury Car Restrictions to Russia
French Citizen Arrested in Russia for Alleged Military Intelligence Gathering
Germany's Defense Minister Calls for War Preparedness by 2029
Deutsche Bank Revises Eurozone GDP Outlook for 2023
Widening Wealth Gap in Europe
FTI Group Files for Insolvency, Affecting Thousands of Travelers
Germany Announces €23 Billion Tax Cuts to Support Inflation-Hit Households
West Nears Plan to Tap $300bn in Frozen Russian Assets
The European Central Bank (ECB) has cut interest rates for the first time in nearly five years
Putin Warns Against Western Arms Deliveries to Ukraine
Slovak PM Blames Opposition for Assassination Attempt
Study Finds Covid Vaccines May Have Contributed to Excess Deaths
EU Commission Considers Broader Digital Surveillance Measures
Macron to Host Zelensky in Paris for Crucial Talks
Italy's Prime Minister Meloni to Visit Migrant Centers in Albania
Conservatives Plan to Define Sex as Biological in Equality Act
China Accuses MI6 of Recruiting Chinese Government Staff as Spies
Nigel Farage Makes Eighth Attempt to Become UK MP
UK Poll Predicts Historic Victory for Labour Party
Orban Amplifies Anti-NATO Rhetoric Ahead of Elections
Meloni Urges EU Parliament to Adopt Right-Wing Coalition Model
Venice Implements New Tourist Restrictions
×