<SEC-DOCUMENT>0001193125-25-263385.txt : 20251104
<SEC-HEADER>0001193125-25-263385.hdr.sgml : 20251104
<ACCEPTANCE-DATETIME>20251104060258
ACCESSION NUMBER:		0001193125-25-263385
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251030
FILED AS OF DATE:		20251104
DATE AS OF CHANGE:		20251104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CITIGROUP INC
		CENTRAL INDEX KEY:			0000831001
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40863
		FILM NUMBER:		251446221

	BUSINESS ADDRESS:	
		STREET 1:		388 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013
		BUSINESS PHONE:		2125591000

	MAIL ADDRESS:	
		STREET 1:		388 GREENWICH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10013

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS GROUP INC
		DATE OF NAME CHANGE:	19950519

	FORMER NAME:	
		FORMER CONFORMED NAME:	TRAVELERS INC
		DATE OF NAME CHANGE:	19940103

	FORMER NAME:	
		FORMER CONFORMED NAME:	PRIMERICA CORP /NEW/
		DATE OF NAME CHANGE:	19920703

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WOLFSPEED, INC.
		CENTRAL INDEX KEY:			0000895419
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				561572719
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0629

	BUSINESS ADDRESS:	
		STREET 1:		4600 SILICON DR
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
		BUSINESS PHONE:		9194075300

	MAIL ADDRESS:	
		STREET 1:		4600 SILICON DR
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703-8475

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREE, INC.
		DATE OF NAME CHANGE:	20190808

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREE INC
		DATE OF NAME CHANGE:	20000103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CREE RESEARCH INC /NC/
		DATE OF NAME CHANGE:	19940224
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-10-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000895419</issuerCik>
        <issuerName>WOLFSPEED, INC.</issuerName>
        <issuerTradingSymbol>WOLF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000831001</rptOwnerCik>
            <rptOwnerName>CITIGROUP INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>388 GREENWICH STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10013</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $0.00125 par value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2585625</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>2.5% Convertible Second Lien Senior Secured Notes due 2031</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.2323</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-09-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2031-06-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20928</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Short Put Option (obligation to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-10-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-01-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2175</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Equity Swap (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>33.26</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-10-10</value>
            </exerciseDate>
            <expirationDate>
                <value>2030-10-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>271492</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Equity Swap (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.18</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-10-13</value>
            </exerciseDate>
            <expirationDate>
                <value>2030-10-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>139152</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Equity Swap (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>30.85</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-10-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-06-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1025351</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Equity Swap (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>30.85</value>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2025-10-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-06-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.00125 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>134649</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Form 3 is being filed by Citigroup Inc. (&quot;Citigroup&quot; or the &quot;Reporting Person&quot;), which is the sole stockholder of Citigroup Global Markets Inc. (&quot;CGMI&quot;) and Citibank, N.A. (&quot;CBNA&quot;), with respect to the securities held by CGMI and CBNA.    The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any.</footnote>
        <footnote id="F2">CBNA entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of 271,492 shares of Common Stock, from an initial price per share of 33.26. The final valuation date (subject to early termination by the parties) is October 9, 2030.</footnote>
        <footnote id="F3">CBNA entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of 139,152 shares of Common Stock, from an initial price per share of 32.18. The final valuation date (subject to early termination by the parties) is October 11, 2030.</footnote>
        <footnote id="F4">CBNA entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of 1,025,351 shares of Common Stock, from an initial price per share of 30.85. The final valuation date (subject to early termination by the parties) is June 24, 2026.</footnote>
        <footnote id="F5">CBNA entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of 134,649 shares of Common Stock, from an initial price per share of 30.85. The final valuation date (subject to early termination by the parties) is June 24, 2026.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Citigroup Inc., By:/s/Ronny Ostrow, Assistant Secretary</signatureName>
        <signatureDate>2025-11-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
