Warren Buffett’s 5 New Stock Picks Since 2022 Market Peak

3. Citigroup Inc. (NYSE:C)

Berkshire Hathaway’s Equity Stake in Q3 2023: $2.27 Billion
Stock Gain since Buffett Investment: -26%
Number of Hedge Fund Holders: 79

Citigroup Inc. (NYSE:C) is a company that offers financial products and services, including wholesale banking. Citigroup Inc. (NYSE:C) also provides fixed income and equity sale trading and foreign exchange.

Citigroup Inc. (NYSE:C) was one of Buffett’s new stock picks in 2022. The billionaire acquired stakes worth $2.9 billion, accounting for 0.81% of the portfolio in Q1 of 2022. Buffett has been buying and selling shares in Citigroup Inc. (NYSE:C) and taking advantage of the 4.62% dividend yield on offer. Berkshire Hathaway ended Q3 2023 with stakes worth $2.2 billion, accounting for 0.72% of the portfolio.

In its Q3 2023 investor letter, Silver Beech Capital discussed its views on Citigroup Inc. (NYSE:C): 

“Citigroup (“Citi”) is a large-capitalization global diversified financial services holding company that primarily serves multinational institutional and high net worth consumer clients. Citi is one of three large American banks to be designated in “bucket 3 or 4” of the “global systemically important bank” (“G-SIB”) framework by The Basel Committee on Banking Supervision. The other banks in this group are J.P. Morgan and Bank of America.…” (Click here to see the full text)

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