Gabelli Funds Boosts Stake in First Citizens BancShares

Investment firm increases holdings in North Carolina-based bank by 19.1%

Published on Mar. 9, 2026

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Gabelli Funds LLC, an institutional investor, has increased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.1% in the third quarter, according to a recent 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 5,385 shares of the bank's stock, valued at $9.635 million as of the latest filing.

Why it matters

This move by Gabelli Funds reflects their confidence in the growth and performance of First Citizens BancShares, a prominent regional bank headquartered in Raleigh, North Carolina. The bank's stock has seen strong performance, with a one-year high of $2,232.21 and a current market capitalization of $22.6 billion.

The details

Gabelli Funds increased its position in First Citizens BancShares by adding 865 additional shares during the third quarter. The investment firm now holds a total of 5,385 shares of the bank's stock. First Citizens BancShares is a full-service commercial bank that offers a range of banking products and services to retail, commercial, and institutional clients across its footprint.

  • Gabelli Funds increased its stake in the third quarter of 2026.

The players

Gabelli Funds LLC

An institutional investor and asset management firm.

First Citizens BancShares, Inc.

A North Carolina-based full-service commercial bank with a market capitalization of $22.6 billion.

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The takeaway

The increased investment by Gabelli Funds in First Citizens BancShares suggests the firm sees continued growth potential in the regional bank, which has maintained a strong market position and financial performance in the Raleigh area and beyond.