Billionaire investor Steve Cohen has significantly reallocated his capital to major U.S. banks, funneling about $205.5 million into shares of Wells Fargo, US Bancorp and several other regional financial institutions in the last quarter, according to recent 13F SEC filings.
The files reveal that Cohen’s firm, Point72 Asset Management, increased stakes in a basket of banks even as the portfolio’s exposure to one of Warren Buffett’s top holdings shrank.
Among the largest new or increased positions reported for the fourth quarter of 2025 were US Bancorp at approximately $61.4 million, Huntington Bancshares at $68.1 million, Bank of New York Mellon at $44.2 million, Cullen/Frost Bankers at $16.2 million and Wells Fargo at $15.6 million.
The size and variety of positions indicate diversified exposure to the banking industry rather than a concentrated push towards a single lender.
At the same time, Cohen’s portfolio reduced exposure to Bank of America, a holding historically linked to value investor Warren Buffett.
Cohen, owner of MLB’s New York Mets, is worth approximately $23 billion.
In 2013, SAC Capital Advisors, then Cohen’s firm, pleaded guilty to insider trading and agreed to pay $1.8 billion in fines — one of the largest criminal cases against a hedge fund.
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