Citigroup Q3 Holdings: Nvidia (NVDA.US) Remains Top Heavy Position, Expanded Both Index and Tech Stock Options

According to Zhitong Finance APP, as disclosed by the U.S. Securities and Exchange Commission (SEC), Citigroup (C.US) filed its Q3 13F holdings report as of September 30, 2026, on November 4, 2026. Data shows Citigroup’s total portfolio market value in the third quarter reached $308 billion, up from $303 billion in the previous quarter. During the third quarter, Citigroup added 778 new stocks to its portfolio, increased holdings in 2,098 stocks, reduced holdings in 2,782 stocks, and fully liquidated 473 stocks. Notably, Citigroup’s top ten holdings accounted for 21% of its total portfolio value.

Top 5 Holdings: Nvidia Takes the Lead, Five of Top 10 Are Options

AI chip giant Nvidia (NVDA.US) ranks first, holding about 53.42 million shares with a market value of approximately $12.201 billion, accounting for 3.96% of the portfolio. The shareholding decreased by 12.85% compared to the previous quarter, and the proportion dropped from 4.05% last quarter.

The put option of iShares Russell 2000 ETF (IWM.US, PUT) ranks second, with about 29.236 million shares and a holding value of approximately $8.124 billion, accounting for 2.64% of the portfolio, up 52.34% from last quarter.

Consumer electronics giant Apple (AAPL.US) ranks third, holding about 23.5596 million shares valued at around $7.846 billion, or 2.54% of the portfolio. Shares decreased by 6.85% from last quarter; however, its portfolio weight rose from 2.42% to 2.54%, reflecting the impact of share price and total portfolio value changes.

Software and cloud computing giant Microsoft (MSFT.US) is fourth, with about 14.9171 million shares valued at approximately $7.651 billion, accounting for 2.48% of the portfolio. Holdings declined by 21.70% compared to last quarter; nonetheless, the weight increased from 2.35% to 2.48%, also reflecting the combined effects of stock price and total portfolio market value shifts.

The put option of Nasdaq 100 ETF (QQQ.US, PUI) is fifth, with a reported value of about $7.146 billion, or 2.32% of the portfolio, up from 1.70% the previous quarter; reported quantity increased by 38.58% from last quarter.

Ranks six through ten among the largest holdings are: QQQ call options (about $5.149 billion, 1.67%), e-commerce and cloud computing giant Amazon (AMZN.US) (approximately $4.349 billion, 1.41%), Nvidia put options (about $4.168 billion, 1.35%), Alphabet (GOOGL.US) Class A shares (about $4.143 billion, 1.34%), and Apple put options at tenth (approximately $3.952 billion, 1.28%).

Industry Distribution: Portfolio Dominated by Information Technology Stocks, ETFs and Their Options Hold Several Positions

In terms of holding structure, Citigroup’s direct stock holdings are mainly information technology companies. Besides Nvidia, Apple, and Microsoft, major holdings in the top 20 include memory chipmaker Micron Technology (MU.US), semiconductor and infrastructure software firm Broadcom (AVGO.US), chip designer AMD (AMD.US), semiconductor equipment manufacturers Applied Materials (AMAT.US) and KLA (KLAC.US).

Internet platform companies include Amazon, Alphabet, and social media giant Meta Platforms (META.US). Electric vehicle manufacturer Tesla (TSLA.US) ranks 14th. The portfolio also contains significant holdings in broad-based and sector ETFs and their options; besides IWM and QQQ, there are S&P 500 ETF (VOO.US), SPDR S&P Biotech ETF (XBI.US), and iBoxx High Yield Bond ETF (HYG.US), among others. VanEck Semiconductor ETF (SMH.US), iShares Semiconductor ETF (SOXX.US), and SPDR Gold ETF (GLD.US) are also included.

Stocks from the semiconductor sector and semiconductor ETFs occupy several positions in the portfolio, making it the most concentrated direct holding industry direction.

Options Ledger: Put Options Account for 22.77% of the Portfolio, Index and Tech Stock Options See Bidirectional Expansion

Options are the most prominent structure in this quarter's reported portfolio. As of the quarter's end, Citigroup reported a total of 533 put options with a total reported value of about $70.177 billion, comprising 22.77% of the portfolio; there were 591 call options, with a combined reported value of around $29.016 billion, accounting for 9.41% of the portfolio.

Put options on indices and large-cap tech stocks make up the main part: IWM puts valued at about $8.124 billion, QQQ at $7.146 billion, Nvidia at $4.168 billion, Apple at $3.952 billion, Microsoft at $2.866 billion, Meta at $2.278 billion, Tesla at $2.188 billion, and iBoxx High Yield Bond ETF at $2.127 billion.

In terms of directional changes, both put and call options for several instruments increased sharply: Meta put and call option filings rose 107.53% and 245.82% respectively, financial sector ETF (XLF.US) put options increased 121.83%, 20-Year Treasury ETF (TLT.US) call options grew by about 388%, and Applied Materials put option filings increased to about $349 million.

Some option positions were significantly reduced: VanEck Semiconductor ETF put options decreased by 89.36%, Micron puts fell 50.67%, GLD calls by 91.04%, Apple and Microsoft call options dropped 74.31% and 54.51% respectively.

IWM and QQQ's common shares, puts, and calls all coexist in the portfolio, with both types of options seeing substantial quarter-over-quarter increases. Such structures may involve hedging or volatility trading intentions, but specific strategies cannot be determined from the 13F.

The 13F only discloses reportable holdings meeting filing requirements and does not list short stock or option positions; option value and quantity must be verified in accordance with SEC reporting rules for each period and cannot be directly interpreted as premiums or notional value without verification. The 13F also does not disclose strike prices, expiry dates, or intra-quarter trading activities. Therefore, analysis can only describe the observable holdings at the reporting date and cannot reconstruct full strategy structures or confirm institutional trading intentions based on these filings.

From the perspective of portfolio weighting changes, Citigroup’s top five purchases are all options: QQQ call options, IWM put options, QQQ put options, Meta put options, and IWM call options.

The top five reductions are: Micron Technology (MU.US), VanEck Semiconductor ETF put options, Micron puts, GLD call options, and Applied Materials (AMAT.US).