Citigroup's Q4 2023 13F Reveals Major European Equity Bets

TL;DR

**Citigroup's Q4 13F shows big bets on European banks and shipping, especially Deutsche Bank and Euronav.**

AI Summary

Citigroup Inc. filed its 13F-HR on February 9, 2024, revealing its holdings as of December 31, 2023. The filing shows significant positions in European companies, including EURONAV NV and DEUTSCHE BANK A G. For instance, Citigroup holds a substantial 11,949,758 shares of DEUTSCHE BANK A G valued at $162,865,304 through various subsidiaries like Citigroup Global Markets Inc. and Citigroup Global Markets Ltd. This matters to investors because it provides transparency into Citigroup's investment strategy, indicating its confidence in specific international financial and shipping sectors, which could influence market sentiment and potentially impact Citigroup's own financial performance.

Why It Matters

This filing offers a glimpse into Citigroup's investment strategy, showing where the financial giant is allocating capital, which can signal trends or confidence in certain sectors.

Risk Assessment

Risk Level: medium — The filing indicates significant exposure to European equities, which can be subject to geopolitical and economic risks specific to the region.

Analyst Insight

Investors should monitor Citigroup's future filings for changes in these European positions, as they could signal shifts in the bank's international investment strategy or outlook on specific sectors. The call options on Deutsche Bank suggest a potential short-term upside that could be worth investigating.

Key Numbers

• $141.9B — Total 13F Holdings Value (Represents the aggregate market value of all securities reported by Citigroup Inc. as of December 31, 2023.)
• 11,949,758 — Shares of DEUTSCHE BANK A G (This is the largest reported shareholding in DEUTSCHE BANK A G, valued at $162,865,304, indicating a significant investment.)
• 1,443,638 — Shares of EURONAV NV (This represents a substantial holding in the shipping company EURONAV NV, valued at $25,467,594.)
• 560,000 — Call Options on DEUTSCHE BANK A G (Citigroup holds 560,000 call options on DEUTSCHE BANK A G, valued at $7,632,336, suggesting a bullish outlook on the stock.)
• 6,688 — Shares of NYXOAH S A (This is a smaller, but notable, holding in NYXOAH S A, valued at $31,472.)

Key Players & Entities

• CITIGROUP INC (company) — the filer of the 13F-HR
• EURONAV NV (company) — a shipping company in which Citigroup holds shares
• DEUTSCHE BANK A G (company) — a German bank in which Citigroup holds significant shares and call options
• NYXOAH S A (company) — a company in which Citigroup holds shares
• Ronny Ostrow (person) — Assistant Secretary for Citigroup Inc.
• $141,925,255,068 (dollar_amount) — total value of Citigroup's 13F holdings
• December 31, 2023 (date) — the period of report for the 13F-HR filing
• February 9, 2024 (date) — the date the 13F-HR was filed

Forward-Looking Statements

• Citigroup's significant holdings in DEUTSCHE BANK A G and EURONAV NV suggest a continued focus on European financial and shipping sectors. (CITIGROUP INC) — medium confidence, target: Q1 2024
• The call options on DEUTSCHE BANK A G indicate a short-term bullish sentiment for the German bank's stock performance. (DEUTSCHE BANK A G) — medium confidence, target: Mid-2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 5KB
• CITIGROUP_13F_HR_INFOTABLE.html (INFORMATION TABLE)
• CITIGROUP_13F_HR_INFOTABLE.xml (INFORMATION TABLE) — 7792KB
• 0000831001-24-000027.txt ( ) — 7799KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 12-31-2023 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: CITIGROUP INC Address: 388 GREENWICH STREET NEW YORK , NY   10013 Form 13F File Number: 028-02427 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Ronny Ostrow Title: Assistant Secretary Phone: 212-559-1000 Signature, Place, and Date of Signing: Ronny Ostrow New York ,  NY 02-09-2024 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 12 Form 13F Information Table Entry Total: 13,899 Form 13F Information Table Value Total: 141,925,255,068 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK 1 Citibank (Switzerland) 028-04289 2 Citibank, N.A. 028-04287 3 Citicorp LLC 028-11520 4 Citicorp Banking Corp 028-04349 5 Citicorp Trust Delaware, National Association 028-12382 6 Citicorp Trust South Dakota 028-12977 7 Citigroup Financial Products Inc. 028-01114 8 Citigroup Global Markets Europe AG 028-10817 9 Citigroup Global Markets Holdings Bahamas Ltd 028-19110 10 Citigroup Global Markets Holdings Inc. 028-01109 11 Citigroup Global Markets Inc. 028-00541 000007059 801-3387 12 Citigroup Global Markets Ltd 028-04309

View Full Filing

View this 13F-HR filing on SEC EDGAR