SEC Filing Summary: Citizens Financial Group Inc (13F-HR)
Business Context and Reporting Period
Company: Citizens Financial Group Inc
Filing Type: Form 13F Information Table (Quarterly Statement of Beneficial Ownership)
Reporting Period: The filing lists a period date of March 31, 2026. Note: This date appears to be a future date relative to current market time; the data reflects the portfolio holdings as of the filing's stated period.
Context: This filing discloses the equity securities held by Citizens Financial Group Inc. It is a regulatory disclosure of investment positions, not a financial performance report of Citizens Financial Group's own banking operations.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities and Exchange Traded Funds (ETFs). Specific financial metrics for Citizens Financial Group (e.g., revenue, profit, cash flow) are not contained in this document. The following metrics relate to the portfolio holdings reported:
- Total Reported Value: The filing lists individual security values in dollars, but a consolidated total portfolio value is not explicitly summed in the text provided.
- Top Holdings by Value (Selected):
- NVIDIA Corp: ~$231M (DFND 2) + ~$56M (DFND 1) = ~$287M
- Apple Inc: ~$284M (DFND 2) + ~$69M (DFND 1) = ~$353M
- Microsoft Corp: ~$163M (DFND 2) + ~$55M (DFND 1) = ~$218M
- Amazon.com Inc: ~$109M (DFND 2) + ~$29M (DFND 1) = ~$138M
- Alphabet Inc (Class C): ~$57M (DFND 2) + ~$13M (DFND 1) = ~$70M
- Alphabet Inc (Class A): ~$157M (DFND 2) + ~$38M (DFND 1) = ~$195M
- ETF Exposure: Significant holdings in broad market ETFs including Vanguard S&P 500 ETF (~$402M), iShares Core S&P Mid-Cap ETF (~$131M), and iShares Core MSCI EAFE ETF (~$164M).
- Self-Holding: Citizens Financial Group Inc holds its own common stock (CUSIP 174610105) valued at approximately $15.2M (DFND 1) and $3.7M (DFND 2).
Material Changes
Comparison Data Unavailable: This filing is a snapshot of holdings as of the reporting period. The provided text does not contain the prior quarter's data (e.g., December 31, 2025) required to calculate material changes, net purchases, or sales. Therefore, no material changes can be summarized from this text alone.
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F filings are data tables and do not include management discussion, guidance, or outlook.
Risks and Contingencies: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy. The portfolio itself exposes the entity to market risk across technology, financials, healthcare, and consumer discretionary sectors, as well as currency risk via international ETFs (e.g., MSCI EAFE, MSCI Emerging Markets).
Investor Verification Checklist
- Verify Reporting Date: Confirm if "2026 Mar 31" is a data entry error or a specific forward-looking scenario, as this date is in the future relative to the current real-time.
- Portfolio Concentration: Assess the concentration risk in the Technology sector, which appears to be the largest allocation based on top holdings (NVIDIA, Apple, Microsoft, Alphabet).
- Self-Holding Intent: Investigate the purpose of the ~$19M holding in Citizens Financial Group's own stock (DFND 1 and DFND 2 categories).
- ETF Overlap: Review the overlap between direct stock holdings and broad market ETFs (e.g., Vanguard S&P 500) to understand true net exposure.
- Discretionary Authority: Note that most holdings are marked "DFND 1" (Sole Discretion) or "DFND 2" (Shared Discretion), indicating the management structure of these assets.