Xin Lang Cai Jing·2025-11-14 09:36Core Viewpoint - Citigroup has significantly reduced its holdings in major AI-related technology stocks, reflecting concerns over the sustainability of the AI investment boom and the potential for a market correction in these high-valuation stocks [3][9]. Summary by Category Holdings Overview - As of September 30, 2025, Citigroup's total market value of holdings reached approximately $224 billion, up from $204 billion in the previous quarter, marking a 10% increase [1][2]. - The firm added 826 new stocks and increased holdings in 1,833 stocks, while reducing positions in 3,028 stocks and completely selling out of 399 stocks [1][2]. Major Stock Adjustments - Citigroup has notably reduced its positions in major tech giants such as Nvidia, Microsoft, Apple, and Amazon, aligning with the narrative of an "AI bubble" and the subsequent market correction [3][9]. - Despite the reductions in tech giants, Citigroup slightly increased its stake in Broadcom, indicating a positive outlook on its ASIC technology growth prospects [3][4]. Top Holdings - Nvidia remains Citigroup's largest holding with approximately 33.39 million shares valued at about $6.23 billion, although this represents a 28.22% decrease from the previous quarter [6]. - The second-largest holding is the Russell 2000 Index ETF put options, with around 23.99 million shares valued at approximately $5.81 billion, reflecting a 12.26% increase [4]. - Microsoft ranks third with about 9.56 million shares valued at approximately $4.95 billion, down 19.55% from the previous quarter [4]. Strategic Moves - Citigroup has increased its holdings in put options for the Nasdaq 100 Index ETF by 81%, indicating a preparation for potential declines in AI-related stocks [7][8]. - The top five purchases in the third quarter included high-yield corporate bond ETF put options and Nvidia put options, emphasizing a strategy to hedge against potential downturns in the AI sector [8]. Selling Trends - The top five sell-offs included Nvidia, Meta, Amazon, Microsoft, and Apple, further underscoring Citigroup's cautious stance on the AI investment landscape [9].