Berkshire slashed Capital One by 58%, selling 4 million shares, as Dan Loeb's Third Point multiplied its own stake nearly 5-fold to 825,000 shares. Berkshire also cut Bank of America by 30 million shares and Ally Financial by 2 million, signaling a broad pullback from consumer credit exposure. Loeb's bull case rests on the Discover integration, where Global Payment Network volume already surged 156% year over year to $190 billion.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Capital One didn't make the cut. Grab the names FREE today. Two of the most closely tracked investors in America moved in opposite directions on the same consumer lender last quarter.
According to Q2 2026 13F filings, positions as of June 30, 2026, filed August 14, 2026, Berkshire Hathaway (NYSE:BRK.B) sold 4,150,000 shares of Capital One, leaving 3,000,000 shares valued at $601,860,000, a share delta of about negative 58%. In the same quarter, Dan Loeb's Third Point bought 685,000 shares to reach 825,000 shares, valued at $165,511,500, with a share delta of roughly 4.89. George Soros' Soros Fund Management also trimmed, selling 33,043 shares to 147,062 shares, valued at $29,503,578.
One note before we move further: Buffett retired as Berkshire's CEO at the end of 2025, but remains active as Chairman of the company. Greg Abel now makes day to day decisions for the conglomerate. Capital One (NYSE:COF) is a consumer credit machine.
Credit cards and auto lending drive the business, which means earnings are levered to the health of the American household. Q2 2026 revenue reached $15.85B, with Domestic Card revenue of $11.10B, up 30% year over year after the May 18, 2025 Discover acquisition and the April 7, 2026 Brex deal. Diluted EPS came in at $4.73.
Capital One was not an isolated trim. In the same filing, Berkshire also cut Bank of America (NYSE:BAC) by 30,230,150 shares to 483,394,015 shares and cut Ally Financial (NYSE:ALLY) by 2,000,000 shares to 27,000,000 shares. The filings show a broader lightening of consumer-credit exposure.
Extract — continue reading at the source.
