Citizens Financial Reveals $23.7M Alphabet A, $17M Alphabet C Holdings

TL;DR

**Citizens Financial's 13F shows big bets on Alphabet and Adobe, signaling confidence in tech giants.**

AI Summary

Citizens Financial Group Inc./RI, through its subsidiaries Citizens Bank, National Association and Clarfeld Financial Advisors, LLC, filed its 13F-HR on February 2, 2024, detailing its equity holdings as of December 31, 2023. The filing reveals significant positions in tech giants like Alphabet Inc. (Class A shares valued at $23,786,661 and Class C shares at $17,010,956) and Adobe Systems Inc. ($10,105,082), alongside substantial investments in healthcare and consumer staples. This matters to investors as it provides transparency into the investment strategies of Citizens Financial Group's managed portfolios, indicating their confidence in specific sectors and large-cap companies.

Why It Matters

This filing offers a look into the investment decisions of Citizens Financial Group's managed funds, which can signal trends or confidence in certain companies and sectors. Understanding these holdings helps investors gauge the market sentiment of a major financial institution.

Risk Assessment

Risk Level: low — This filing is a backward-looking disclosure of holdings and does not indicate future performance or significant new risks.

Analyst Insight

Investors should note Citizens Financial Group's preference for large-cap tech and healthcare, which could indicate a belief in their stability and growth potential. This information can be used to cross-reference with one's own portfolio strategy, especially if considering investments in these sectors.

Key Numbers

• $23.79M — Alphabet Inc. Class A shares (Largest reported holding by value, indicating strong conviction in the tech giant.)
• $17.01M — Alphabet Inc. Class C shares (Second largest reported holding, further emphasizing a significant investment in Alphabet.)
• $10.11M — Adobe Systems Inc. shares (Another substantial tech holding, showing diversification within the technology sector.)
• 170,282 SH — Alphabet Inc. Class A shares (The number of Class A shares held, providing insight into the scale of the investment.)
• 120,705 SH — Alphabet Inc. Class C shares (The number of Class C shares held, complementing the Class A share count.)

Key Players & Entities

• CITIZENS FINANCIAL GROUP INC/RI (company) — the filer of the 13F-HR
• Citizens Bank, National Association (company) — a subsidiary managing assets
• Clarfeld Financial Advisors, LLC (company) — a subsidiary managing assets
• David P. Russell (person) — Senior Vice President who signed the filing
• Alphabet Inc. CAP STK CL A (company) — a significant holding
• Alphabet Inc. CAP STK CL C (company) — a significant holding
• Adobe Sys Inc COM (company) — a significant holding
• $23,786,661 (dollar_amount) — value of Alphabet Inc. Class A shares held
• $17,010,956 (dollar_amount) — value of Alphabet Inc. Class C shares held
• $10,105,082 (dollar_amount) — value of Adobe Systems Inc. shares held

Forward-Looking Statements

• Citizens Financial Group will likely maintain its significant positions in large-cap tech companies like Alphabet and Adobe in the near term. (Citizens Financial Group Inc./RI) — medium confidence, target: Q1 2024
• The investment strategy of Citizens Financial Group will continue to favor established companies with strong market positions. (Citizens Financial Group Inc./RI) — high confidence, target: Mid-2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 3KB
• information_table.html (INFORMATION TABLE)
• information_table.xml (INFORMATION TABLE) — 224KB
• 0000759944-24-000012.txt ( ) — 228KB

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: CITIZENS FINANCIAL GROUP INC/RI Address: 1 CITIZENS PLAZA PROVIDENCE , RI   02903 Form 13F File Number: 028-05954 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: David P. Russell Title: Senior Vice President Phone: 203-900-6844 Signature, Place, and Date of Signing: /s/ David P. Russell Stamford ,  CT 02-02-2024 [Signature] [City, State] [Date] Report Type (Check only one.):    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).) X 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).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK Citizens Bank, National Association 028-17246       Clarfeld Financial Advisors, LLC, 028-19418 000106743 801-40835   Form 13F Summary Page Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 564 Form 13F Information Table Value Total: 2,899,222,007 (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 Citizens Bank, National Association 028-17246 2 Clarfeld Financial Advisors, LLC 028-19418 000106743 801-40835

View Full Filing

View this 13F-HR filing on SEC EDGAR