Dodge & Cox Reports 5.4% Stake in Capital One (COF)

TL;DR

**Dodge & Cox still owns 5.4% of Capital One, a bullish sign from a big player.**

AI Summary

Dodge & Cox, a prominent investment management firm, filed an amended SC 13G/A on February 13, 2024, indicating their ownership of Capital One Financial Corp (COF) common stock as of December 31, 2023. This filing, Amendment No. 23, updates their previous disclosures, showing they hold 20,443,000 shares, representing 5.4% of Capital One's outstanding common stock. This matters to investors because it reveals a significant institutional holder's current stake, suggesting their continued confidence in Capital One, which can influence market perception and potentially stock stability.

Why It Matters

This filing shows that a major institutional investor, Dodge & Cox, maintains a significant stake in Capital One, which can be seen as a vote of confidence and may influence other investors' perceptions of the stock.

Risk Assessment

Risk Level: low — This filing is a routine update from an institutional investor and does not indicate any immediate risks or significant changes in company operations.

Analyst Insight

A smart investor would note Dodge & Cox's continued significant stake as a potential indicator of long-term value, but should conduct their own due diligence rather than solely relying on institutional holdings.

Key Numbers

• 20,443,000 — Shares Beneficially Owned (This is the total number of Capital One common shares Dodge & Cox holds.)
• 5.4% — Percentage of Class (This represents Dodge & Cox's ownership stake in Capital One, indicating a significant institutional holding.)
• December 31, 2023 — Reporting Date (This is the snapshot date for the ownership information provided in the filing.)
• Amendment No. 23 — Filing Amendment Number (This indicates that Dodge & Cox has updated their ownership disclosure multiple times for Capital One.)

Key Players & Entities

• Dodge & Cox (company) — the reporting person and institutional investor
• Capital One Financial Corp (company) — the issuer of the securities
• 20,443,000 (dollar_amount) — number of shares beneficially owned by Dodge & Cox
• 5.4% (dollar_amount) — percentage of Capital One's class of securities owned by Dodge & Cox
• December 31, 2023 (date) — the date of the event which requires filing of this statement

Forward-Looking Statements

• Dodge & Cox will likely maintain a significant stake in Capital One for the foreseeable future. (Dodge & Cox) — medium confidence, target: December 31, 2024
• Capital One's stock price may experience some stability due to continued institutional holding. (Capital One Financial Corp) — low confidence, target: June 30, 2024

FAQ

Filing Documents

• d497445dsc13ga.htm (SC 13G/A) — 36KB
• 0001193125-24-033387.txt ( ) — 37KB

From the Filing

SC 13G/A 1 d497445dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 23)* CAPITAL ONE FINANCIAL CORPORATION (Name of Issuer) Common Stock (Title of Class of Securities) 14040H105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 5 PAGES CUSIP NO. 14040H105 13G PAGE 2 OF 5 PAGES 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Dodge & Cox94-1441976 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)(b) N/A 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION California - U.S.A. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 23,833,328 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 25,220,598 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 25,220,598 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* N/A 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.6% 12 TYPE OF REPORTING PERSON* IA PAGE 2 OF 5 PAGES Item1(a) Name of Issuer: CAPITAL ONE FINANCIAL CORPORATION Item1(b) Address of Issuers Principal Executive Offices: 1680 Capital One Drive McLean, Virginia 22102 Item2(a) Name of Person Filing: Dodge & Cox Item2(b) Address of the Principal Office or, if none, Residence: 555 California Street, 40th Floor San Francisco, CA 94104 Item2(c) Citizenship: California - U.S.A. Item2(d) Title of Class of Securities: Common Stock Item2(e) CUSIP Number: 14040H105 Item3 If the Statement is being filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (e) Investment Advisor registered under section 203 of the Investment Advisors Act of 1940 Item4 (a) Amount Beneficially Owned: 25,220,598 (b) Percent of Class: 6.6% PAGE 3 OF 5 PAGES (c) Number of shares as to which such person has: (i) sole power to vote or direct the vote: 23,833,328 (ii) shared power to vote or direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 25,220,598 (iv) shared power to dispose or to direct the disposition of: 0 Item5 Not applicable. Item6 The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, CAPITAL ONE FINANCIAL CORPORATION. Item7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company: Not applicable. Item8 Identification and Classification of Members of the Group: Not applicable. Item9 Notice of Dissolution of a Group: Not applicable. Item10 Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. PAGE 4 OF 5 PAGES SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 13, 2024 DODGE & COX By: /S/ Katherine M. Primas Name: Katherine M. Primas Title: Chief Compliance Officer PAGE 5 OF 5 PAGES

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View this SC 13G/A filing on SEC EDGAR