Coatue Management Reduces Stake in First Citizens BancShares

The hedge fund lowered its position in the North Carolina-based bank by 4.1% in the third quarter.

Mar. 15, 2026 at 10:37am

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Coatue Management LLC, an institutional investor, lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.1% during the third quarter, according to a recent SEC filing. The hedge fund now owns 202,258 shares of the bank's stock, worth approximately $361.9 million, making it the 27th largest holding in Coatue's investment portfolio.

Why it matters

First Citizens BancShares is a major regional bank based in Raleigh, North Carolina, with a significant presence across the Southeast. Coatue Management's reduced stake in the company could signal a shift in the hedge fund's investment strategy or outlook on the banking sector.

The details

According to the filing, Coatue Management sold 8,749 shares of First Citizens BancShares during the third quarter, reducing its total position to 202,258 shares. The hedge fund now owns approximately 1.63% of the bank's outstanding shares. First Citizens BancShares is the 27th largest holding in Coatue's investment portfolio, comprising around 0.9% of the fund's total assets.

  • Coatue Management filed its 13F report for the third quarter of 2026 on March 15, 2026.

The players

Coatue Management LLC

An institutional investor and hedge fund that manages over $30 billion in assets.

First Citizens BancShares, Inc.

A full-service commercial bank headquartered in Raleigh, North Carolina, with a diversified financial services offering and a presence across the Southeast.

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The takeaway

Coatue Management's reduced stake in First Citizens BancShares could signal a broader shift in the hedge fund's investment strategy or outlook on the banking sector. However, the bank remains a significant holding in Coatue's portfolio, indicating the fund still sees value in the regional lender.