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
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 09-30-2024
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: NatWest Group plc
Address: GOGARBURN
PO BOX 1000
EDINBURGH, SCOTLAND, X0  EH12 1HQ
Form 13F File Number: 028-05855

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: Jan Cargill
Title: Chief Governance Officer and Company Secretary
Phone: 0044 776 924 8894
Signature, Place, and Date of Signing:
Jan Cargill EdinburghX0 10-15-2024
[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: 1
Form 13F Information Table Entry Total: 63
Form 13F Information Table Value Total: 338,297,473
(thousands)
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. Form 13F File Number Name
4 028-04889 Coutts & Company

SEC FORM 13-F Information Table

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 INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALPHABET INC CAP STK CL A 02079K305 3,228,436 19,466 SH   DFND   19,466 0 0
ALPHABET INC CAP STK CL A 02079K305 12,265,105 73,953 SH   DFND 4 73,953 0 0
ALPHABET INC CAP STK CL C 02079K107 580,985 3,475 SH   DFND 4 3,475 0 0
AMAZON COM INC COM 023135106 1,742,931 9,354 SH   DFND   9,354 0 0
AMAZON COM INC COM 023135106 5,813,869 31,202 SH   DFND 4 31,202 0 0
AMERICAN EXPRESS CO COM 025816109 1,970,539 7,266 SH   DFND   7,266 0 0
AMERICAN EXPRESS CO COM 025816109 9,249,818 34,107 SH   DFND 4 34,107 0 0
APPLE INC COM 037833100 6,765,621 29,037 SH   DFND   29,037 0 0
APPLE INC COM 037833100 27,679,235 118,795 SH   DFND 4 118,795 0 0
BERKLEY W R CORP COM 084423102 987,726 17,411 SH   DFND   17,411 0 0
BERKLEY W R CORP COM 084423102 4,701,612 82,877 SH   DFND 4 82,877 0 0
BOOKING HOLDINGS INC COM 09857L108 1,457,394 346 SH   DFND   346 0 0
BOOKING HOLDINGS INC COM 09857L108 7,366,998 1,749 SH   DFND 4 1,749 0 0
BROADCOM INC COM 11135F101 742,268 4,303 SH   DFND   4,303 0 0
BROADCOM INC COM 11135F101 3,562,470 20,652 SH   DFND 4 20,652 0 0
CANADIAN NAT RES LTD COM 136385101 238,514 7,182 SH   DFND   7,182 0 0
CINTAS CORP COM 172908105 1,877,626 9,120 SH   DFND   9,120 0 0
CINTAS CORP COM 172908105 8,867,663 43,072 SH   DFND 4 43,072 0 0
CME GROUP INC COM 12572Q105 13,239,194 60,001 SH   DFND   60,001 0 0
COLGATE PALMOLIVE CO COM 194162103 2,814,393 27,111 SH   DFND   27,111 0 0
COLGATE PALMOLIVE CO COM 194162103 8,544,913 82,313 SH   DFND 4 82,313 0 0
COSTCO WHSL CORP NEW COM 22160K105 1,542,545 1,740 SH   DFND   1,740 0 0
COSTCO WHSL CORP NEW COM 22160K105 5,686,139 6,414 SH   DFND 4 6,414 0 0
EBAY INC. COM 278642103 3,187,590 48,957 SH   DFND   48,957 0 0
EBAY INC. COM 278642103 9,389,578 144,211 SH   DFND 4 144,211 0 0
ELI LILLY & CO COM 532457108 3,331,134 3,760 SH   DFND   3,760 0 0
ELI LILLY & CO COM 532457108 9,280,222 10,475 SH   DFND 4 10,475 0 0
ISHARES TR CORE S&P500 ETF 464287200 8,070,289 13,991 SH   DFND 4 13,991 0 0
JPMORGAN CHASE & CO. COM 46625H100 3,371,441 15,989 SH   DFND   15,989 0 0
JPMORGAN CHASE & CO. COM 46625H100 13,256,136 62,867 SH   DFND 4 62,867 0 0
KIMBERLY-CLARK CORP COM 494368103 2,722,670 19,136 SH   DFND   19,136 0 0
KIMBERLY-CLARK CORP COM 494368103 8,584,322 60,334 SH   DFND 4 60,334 0 0
KLA CORP COM NEW 482480100 2,646,159 3,417 SH   DFND   3,417 0 0
KLA CORP COM NEW 482480100 10,104,502 13,048 SH   DFND 4 13,048 0 0
LINDE PLC SHS G54950103 514,532 1,079 SH   DFND 4 1,079 0 0
LOGITECH INTL S A SHS H50430232 909,772 10,139 SH   DFND   10,139 0 0
LOGITECH INTL S A SHS H50430232 4,658,153 51,913 SH   DFND 4 51,913 0 0
MCDONALDS CORP COM 580135101 261,879 860 SH   DFND 4 860 0 0
META PLATFORMS INC CL A 30303M102 3,265,770 5,705 SH   DFND   5,705 0 0
META PLATFORMS INC CL A 30303M102 10,344,563 18,071 SH   DFND 4 18,071 0 0
MICROSOFT CORP COM 594918104 2,147,197 4,990 SH   DFND   4,990 0 0
MICROSOFT CORP COM 594918104 14,778,654 34,345 SH   DFND 4 34,345 0 0
NETFLIX INC COM 64110L106 3,154,833 4,448 SH   DFND   4,448 0 0
NETFLIX INC COM 64110L106 11,888,074 16,761 SH   DFND 4 16,761 0 0
NRG ENERGY INC COM NEW 629377508 2,061,775 22,632 SH   DFND   22,632 0 0
NRG ENERGY INC COM NEW 629377508 5,153,527 56,570 SH   DFND 4 56,570 0 0
NVIDIA CORPORATION COM 67066G104 4,549,507 37,463 SH   DFND   37,463 0 0
NVIDIA CORPORATION COM 67066G104 18,830,244 155,058 SH   DFND 4 155,058 0 0
PULTE GROUP INC COM 745867101 1,506,060 10,493 SH   DFND   10,493 0 0
PULTE GROUP INC COM 745867101 7,395,957 51,529 SH   DFND 4 51,529 0 0
QUALCOMM INC COM 747525103 916,229 5,388 SH   DFND   5,388 0 0
QUALCOMM INC COM 747525103 4,503,774 26,485 SH   DFND 4 26,485 0 0
ROSS STORES INC COM 778296103 1,084,124 7,203 SH   DFND   7,203 0 0
ROSS STORES INC COM 778296103 5,302,618 35,231 SH   DFND 4 35,231 0 0
TRANE TECHNOLOGIES PLC SHS G8994E103 2,708,282 6,967 SH   DFND   6,967 0 0
TRANE TECHNOLOGIES PLC SHS G8994E103 9,723,692 25,014 SH   DFND 4 25,014 0 0
TRANSDIGM GROUP INC COM 893641100 1,798,184 1,260 SH   DFND   1,260 0 0
TRANSDIGM GROUP INC COM 893641100 6,313,623 4,424 SH   DFND 4 4,424 0 0
UBS GROUP AG SHS H42097107 457,901 14,814 SH   DFND   14,814 0 0
UBS GROUP AG SHS H42097107 2,809,224 90,884 SH   DFND 4 90,884 0 0
WASTE MGMT INC DEL COM 94106L109 210,299 1,013 SH   DFND 4 1,013 0 0
WELLS FARGO CO NEW COM 949746101 1,065,062 18,854 SH   DFND   18,854 0 0
WELLS FARGO CO NEW COM 949746101 5,113,927 90,528 SH   DFND 4 90,528 0 0