Berkshire Hathaway Cut Capital One Stake by 58% in Q2 — Billionaire Dan Loeb Is Doing the Exact Opposite
Key takeaways
- Berkshire cuts its biggest‑growth bank stake, while activist investors double down on the same stock.
- Berkshire sold 58% of its Capital One stake
- Capital One shares fell 12.61% YTD
- Capital One EPS $5.81 vs $4.77 consensus
What happened
Berkshire Hathaway sold 58% of its Capital One stake in Q2 2026, cutting its holding from about 7.15 million shares to roughly 3 million shares. The sale was the largest trim in the portfolio, even though Capital One had the highest Growth score (94th percentile) among Berkshire’s holdings. Dan Loeb’s Third Point, meanwhile, increased its Capital One position nearly sixfold in the same quarter.
Why it matters
The move signals a shift in Berkshire’s view on a high‑growth bank that has been under pressure from a 12.6% YTD decline in its stock price. It also highlights a divergence between Berkshire and activist investors, with Loeb betting on Capital One’s Discover acquisition to drive future earnings. The sale may affect…
Short-term and longer-term
Short-term. Berkshire’s sale removes a high‑growth, high‑volatility position from its portfolio, potentially easing short‑term risk.
Longer-term. For long‑term investors, Berkshire’s divestiture reflects a recalibration of its growth strategy, possibly reallocating capital to higher‑margin or more stable assets.