Citigroup (C.US) Q4 13F Disclosure: NVIDIA (NVDA.US) is the largest holding, significantly reducing holdings in Bank of America (BAC.US)

Citic Securities Finance APP has learned that, according to the U.S. Securities and Exchange Commission (SEC) disclosures, Citigroup (C.US) has submitted its Q4 13F filing for the period ending December 31, 2025.

Based on the latest disclosures, Citigroup’s Q4 portfolio remains primarily composed of U.S. stocks and ETFs, supplemented by a certain scale of options and debt instruments for allocation adjustments. Notably, NVIDIA (NVDA.US) is its largest holding, accounting for 3.04% of the portfolio; the SPDR S&P 500 ETF (SPY.US) ranks second at 2.56%; and Microsoft (MSFT.US) is third at 2.53%. Additionally, iShares Russell 2000 ETF Put Options (IWM.US) and Tesla (TSLA.US) put options are among the top five holdings, representing 2.05% and 2.02% of the portfolio, respectively.

Regarding new positions, Citigroup added several debt and convertible securities in Q4. These include debt or preferred securities of companies such as XEnergy (EVRG.US), Snowflake (SNOW.US), Nutanix (NTNX.US), Align Technology (ALGN.US), Mara Holdings (MARA.US), IonQ Inc (IONQ.US), among others. The size of individual new positions generally ranges from approximately 5 million to 13 million shares, with a relatively limited overall portfolio proportion.

It is noteworthy that Citigroup also established a new position in energy company TotalEnergies (TTE.US), holding about 6.86 million shares, with a market value of approximately $448 million, accounting for about 0.20% of the portfolio.

Meanwhile, Citigroup completely liquidated some small-cap and low-liquidity stocks in Q4. These include stocks mainly in healthcare, consumer discretionary, financials, and industrials, such as MHUAF.US, Revelation Biosciences (REVB.US), Kewaunee Scientific (KEQU.US), Broadway Financial (BYFC.US), Southwest Capital (CSWC.US), Reading International-A (RDI.US), Rain Enhancement Technologies (RAIN.US), among others. Their holdings were reduced to zero during this quarter.

In terms of increased holdings, Citigroup significantly added to some ETFs and debt instruments in Q4. The largest increase was in the Consumer Staples ETF (XLP.US), with an addition of about 17.63 million shares, boosting its holding proportion from 0.18% last quarter to 0.78%.

Additionally, Citigroup substantially increased its holdings in multiple debt and preferred securities, including AKAM.US, JD.US, CMS.US, JetBlue Airways (JBLU.US), GPN.US, Southwest Airlines (LUV.US), Lantheus (LNTH.US), and TripAdvisor (TRIP.US). The increase in individual holdings generally ranges from 7 million to 12 million shares, with notable growth, though their overall proportion in the portfolio remains relatively limited.

In individual stocks, Stellantis (STLA.US) also saw some increase, with about 7.41 million more shares held, raising its share of the portfolio from 0.07% to 0.11%.

On the reduction side, Citigroup significantly cut several financial stocks, indices, and options assets in Q4. Notably, it reduced its holdings in Bank of America (BAC.US) by approximately 29.29 million shares, a decrease of 54.86%, lowering its portfolio share from 1.23% last quarter to 0.59%.

In terms of options, Citigroup also scaled back several hedging positions. For example, its holdings of iShares iBoxx High Yield Bond ETF Put Options (HYG.US) decreased by about 21.87 million shares, a 42.31% reduction; iShares Russell 2000 ETF Put Options (IWM.US) were cut by about 5.17 million shares, with the position decreasing from 2.59% to 2.05%. The decline in industrial sector ETF put options (XLI.US) was particularly sharp, with holdings dropping by over 90%.

Citigroup also reduced holdings in Grab Holdings (GRAB.US), SPDR S&P Regional Banking ETF (KRE.US), and NIO (NIO.US), with reductions mostly between 70% and 90%. Several smaller debt or preferred securities positions were further scaled down during this quarter.