Denver Warren Buffett was surprisingly cautious during the pandemic, but now the 91-year-old star investor is actively involved in the stock market again. Citigroup shares are new to his $390 billion portfolio. Buffett’s Holding Berkshire Hathaway of Omaha, Nebraska, for example, bought a stake worth almost $3 billion at the end of the first quarter. This emerges from a mandatory notification to the US Securities and Exchange Commission (SEC). Citigroup shares had lost a quarter of their value this year. However, they rose by more than two percent in after-hours trading on Monday.
Buffett has been investing in the financial industry on and off for years. His entry is still considered a seal of quality. In addition, Berkshire built a position in financial firm Ally Financial, which is worth around $400 million.
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