Core 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].

Core Viewpoint - Citigroup has significantly reduced its positions in major AI-related tech stocks, reflecting concerns over an "AI bubble" and the sustainability of the AI investment trend, while simultaneously increasing positions in certain ASIC leaders like Broadcom [1][2]. Holdings Summary - Citigroup's total holdings value reached approximately $224 billion in Q3, up 10% from the previous quarter, with 826 new stocks added and 3,028 stocks reduced [1]. - The top ten holdings accounted for 19.48% of Citigroup's total U.S. stock market value, indicating a high concentration in these positions [1]. Major Stock Adjustments - Significant reductions were made in holdings of Nvidia, Microsoft, Apple, and Amazon, with Nvidia being the largest holding but reduced by 28.22% to approximately 33.39 million shares valued at $6.2 billion [2][3]. - Citigroup increased its position in the Russell 2000 ETF put options, reflecting a bearish outlook on small-cap stocks [3]. Specific Stock Positions - The second-largest holding was in Russell 2000 ETF put options, with approximately 23.99 million shares valued at $5.8 billion, an increase of 12.26% [3]. - Microsoft was the third-largest holding, with about 9.56 million shares valued at $5 billion, down 19.55% from the previous quarter [3]. - Tesla put options ranked fourth, with about 10.43 million shares valued at $4.6 billion, showing a slight increase of 6.84% [3]. Additional Insights - Citigroup's strategy included a significant reduction in positions in Apple and Amazon by 33% and 30% respectively, while increasing its stake in Broadcom, which is seen as a competitor to Nvidia in the AI GPU market [4]. - The firm also increased its holdings in Nasdaq 100 ETF put options by 81%, indicating preparation for potential declines in AI-related stocks [4][5]. - The top five sell-offs included Nvidia, Meta, Amazon, Microsoft, and Apple, further emphasizing Citigroup's cautious stance on the AI investment trend [5].

Core Insights - Barclays Bank reported a total market value of $252 billion for its Q2 2025 holdings, down from $353 billion in the previous quarter, indicating a decrease of approximately 34.33% [1][2] - The bank added 255 new stocks, increased holdings in 2,747 stocks, reduced holdings in 1,176 stocks, and completely sold out of 1,047 stocks during the quarter [1][2] - The top ten holdings accounted for 37.06% of the total market value [1][2] Holdings Overview - The largest holding is NVIDIA (NVDA), with approximately 100.84 million shares valued at about $15.93 billion, representing 6.32% of the portfolio, an increase of 14.2% in shares held [3][4] - Microsoft (MSFT) is the second largest holding, with around 26.97 million shares valued at approximately $13.41 billion, accounting for 5.33% of the portfolio, a decrease of 2.31% in shares held [3][4] - Apple (AAPL) ranks third, holding about 45.53 million shares valued at approximately $9.34 billion, which is 3.71% of the portfolio, with an increase of 1.91% in shares held [3][4] - Amazon (AMZN) is fourth, with approximately 36.38 million shares valued at about $7.98 billion, making up 3.17% of the portfolio, a decrease of 9.67% in shares held [3][4] - Tesla (TSLA) is fifth, holding about 20.51 million shares valued at approximately $6.51 billion, representing 2.59% of the portfolio, with an increase of 10.63% in shares held [3][4] Trading Activity - The top five purchases by percentage change in the portfolio were NVIDIA, Microsoft, Broadcom (AVGO), Tesla, and Meta [5] - The top five sales included SPDR S&P 500 ETF put options, Invesco QQQ Trust put options, SPDR S&P 500 ETF call options, Russell 2000 ETF put options, and Invesco QQQ Trust call options [6]