Michael Burry’s Top 5 Stock Picks For 2024

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In this article, we discuss Michael Burry’s top 5 stock picks for 2024. If you want to see other top Michael Burry stock picks, head over to Michael Burry’s Top 15 Stock Picks For 2024.

5. Citigroup Inc. (NYSE:C)

Scion Asset Management’s Stake Value: $5.14 million

Number of Hedge Fund Holders: 87

Citigroup Inc. (NYSE:C) is a global financial services holding company that offers a range of financial products and services to individuals, businesses, governments, and institutions worldwide. The company operates through five segments – Services, Markets, Banking, U.S. Personal Banking, and Wealth. One of Michael Burry’s stock picks for the closing quarter of 2023 is Citigroup Inc. (NYSE:C). He invested in 100,000 shares, which are valued at $5.14 million.

On January 12, Citigroup Inc. (NYSE:C) declared a $0.53 per share quarterly dividend, in-line with previous. The dividend was paid on February 23.

According to Insider Monkey’s fourth quarter database, 87 hedge funds were bullish on Citigroup Inc. (NYSE:C), an increase from 79 funds in the preceding quarter. Warren Buffett’s Berkshire Hathaway is the leading position holder in the company, with 55.24 million shares valued at $2.84 billion.

Patient Capital Management stated the following regarding Citigroup Inc. (NYSE:C) in its fourth quarter 2023 investor letter:

“Citigroup Inc. (NYSE:C), run by Jane Fraser since 2021, is on a multi-year journey to reorganize the business and reach a return on tangible common equity of 11-12% by 2025-2026 (and higher further out). Citigroup is finally taking the hard actions necessary, cutting unprofitable departments, taking out middle management layers, and reducing overall headcount. We have high confidence Citi will hit its targets.”

Follow Citigroup Inc (NYSE:C)

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