In its Q2 2026 investor letter, Broyhill Asset Management stated that First Citizens BancShares, Inc. (NASDAQ:FCNCA) was initiated in June and is a well-run company. The firm highlighted catalysts including the company's repurchase of almost 20% of its Class A shares since July 2024, and its rail leasing fleet of approximately 128,000 cars, which is valued by the market at bank multiples. Broyhill noted that management has proven highly competent and aligned with shareholders. First Citizens BancShares closed at $2,173.88 per share on September 14, 2026, with its shares up 17.10% over the past year, and has a market capitalization of $24.55 billion.