Citigroup Boosts Stake in Academy Sports and Outdoors

Financial firm increases holdings in sporting goods retailer by over 100%

Published on Mar. 2, 2026

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Citigroup Inc. has significantly increased its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO), boosting its holdings by 105.8% in the third quarter according to a recent SEC filing. The firm now owns 162,571 shares of the company's stock, worth approximately $8.13 million.

Why it matters

This investment by a major financial institution like Citigroup suggests growing confidence in Academy Sports and Outdoors' business model and future prospects. As a leading specialty retailer of sporting goods and outdoor gear, the company's performance is seen as a bellwether for consumer spending trends in those categories.

The details

Citigroup's increased stake in Academy Sports and Outdoors comes as the company has seen its share price rise steadily over the past year, up over 80% from its 52-week low. The investment firm now owns about 0.24% of the company's outstanding shares. Several other large investors have also been adding to their positions in Academy Sports and Outdoors in recent quarters.

  • Citigroup boosted its stake in the third quarter of 2026.

The players

Citigroup Inc.

A major American multinational investment bank and financial services corporation.

Academy Sports and Outdoors, Inc.

A leading specialty retailer of sporting goods and outdoor recreation products, operating over 260 stores across the United States.

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The takeaway

Citigroup's increased investment in Academy Sports and Outdoors reflects growing confidence in the retailer's ability to navigate the evolving consumer landscape for sporting goods and outdoor gear. As a major player in this sector, Academy's performance will likely be closely watched by investors and analysts alike.