What smart money is saying about Wells Fargo & Company
4 funds in our archive have pitched Wells Fargo & Company, most recently Artisan Value Income Strategy in December 2025.
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients. Its products and services comprise corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.
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Fund signal · last 12 months
12 lettersMore funds are buying than selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 14 fund letters reported a position in Wells Fargo & Company, with 6 buys (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 7 | 4 | 0 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q1 2026 | 3 | 2 | 1 | 0 |
| Q4 2025 | 1 | 0 | 0 | 2 |
| Q3 2025 | 1 | 0 | 0 | 1 |
| Q2 2025 | 1 | 0 | 0 | 0 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 14 positions · 8 moves
- September 2026
“Wells Fargo & Company (WFC) 3.584% due 5/22/2028 (A1/A-) held up well as yields rose, with its fix-to-float structure and May 2027 call date leaving it very little effective duration.”
Wells Fargo & Company - September 2026
“Wells Fargo & Company (WFC) 3.584% due 5/22/2028 (A1/A-) held up well as yields rose, with its fix-to-float structure and May 2027 call date leaving it very little effective duration.”
Wells Fargo & Company - September 2026
“Portfolio Changes We continued to refine the portfolio around a number of high-conviction positions whilst maintaining our focus on businesses benefiting from long-term structural growth trends. The most extensive repositioning occurred in healthcare where we initiated new positions in DexCom and Boston Scientific, and reinstated Intuitive Surgical after its T score improved. These trades add exposure to high-quality medical technology businesses after periods of share-price weakness. DexCom provides exposure to the long- term adoption of continuous glucose monitoring, while Intuitive Surgical is a global leader in robotic-assisted surgery and Boston Scientific earnings look to be at an inflection point. We funded this by fully exiting Novo Nordisk and EssilorLuxottica. The portfolio added several names in the financials sector, including Citigroup and Wells Fargo.”
Wells Fargo & Company - September 2026
“The portfolio added several names in the financials sector, including NU Holdings, Citigroup and Wells Fargo.”
Wells Fargo & Company - September 2026
“We also looked for short-dated high quality corporate bonds to support yield generation, and to also provide a source of diversification. Over the quarter, we added senior bonds from Macquarie Bank, subordinated bonds from Rabobank, and short-dated bonds from Amazon. We also effected two switches, in Barclays and Wells Fargo respectively, each adding attractive spread.”
Wells Fargo & Company - New positionLiontrust GF Global Alpha FundJuly 2026
“Portfolio changes The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo.”
Wells Fargo & Company - New positionLiontrust Global Alpha FundJuly 2026
“Portfolio changes The portfolio added three names in the financials sector: NU Holdings, Citigroup and Wells Fargo. Financials look set to benefit from the ‘stronger for longer’ theme”
Wells Fargo & Company - June 2026
Listed in Artisan Partners Value Equity Strategy’s reported holdings.
Wells Fargo & Company - New positionBA Beutel Goodman U.S. Value FundMarch 2026
“We added several new positions during the quarter: Union Pacific, Sysco, Wells Fargo, Beckton Dickinson and Marsh & McLennan.”
Wells Fargo & Company - March 2026
“We added to our existing positions in Euronext, Michelin, Carlsberg, NetApp, Elevance, Qualcomm and Wells Fargo.”
Wells Fargo & Company - March 2026
“We reduced some portfolio risk at the outbreak of the Iran war. Perhaps most notably we took money out of our positions in banks such as Wells Fargo.”
Wells Fargo & Company - HoldsDavis Financial FundDecember 2025
“Wells Fargo is the largest “traditional” bank in our portfolio.”
Wells Fargo & Company - September 2025
“Offsetting this headwind, JPMorgan & Chase (JPM) and Wells Fargo (WFC) outperformed due to an improving outlook for credit conditions as well as a trend toward deregulation which should benefit the largest banks.”
Wells Fargo & Company - June 2025
“Financial companies represent the largest sector weighting in DNYVF and reflect a theme we describe as “Misunderstood Durability.” Since the 2008–2009 Global Financial Crisis (GFC), investor sentiment has tended to view financial companies in general and banks in particular as fragile, volatile and prone to disaster. This perception is understandable but inaccurate with regards to the select banks we own, such as Capital One, Wells Fargo and U.S. Bancorp all of which grew their customer bases through both the GFC and the regional banking crisis of 2023.”
Wells Fargo & Company
Also mentioned · 4
These funds discuss Wells Fargo & Company as a competitor, benchmark or comparable, without disclosing a position in it.
- September 2026
“This apparent disconnect is less surprising than it first appears. According to Wells Fargo Research, the absolute level of the 10-year Treasury yield has historically been a poor standalone predictor of corporate spreads.”
Wells Fargo & Company - MentionedPM Capital Global Companies FundJune 2026
“The fund increased 1.4% for the month, led by strong gains in global banking, which were partially offset by transient headwinds in the precious metals sector. European banks led performance, with Barclays, Lloyds, and CaixaBank rallying 7-11%. The primary drivers were the continuation of a supportive interest rate environment and the emergence of sustained lending growth across Europe. Despite delivering superior profitability, maintaining pristine balance sheets and continuing to return excess capital to shareholders, European banks still trade on valuations of less than 10x earnings while generating double-digit earnings growth. Bank of America and Wells Fargo rallied 10% and 7% respectively, with the US banking sector benefitting from two structural catalysts.”
Wells Fargo & Company - MentionedMilitia CapitalDecember 2025
“Many large, credible seeming brokers - Credit Suisse, Nomura, Goldman Sachs, Morgan Stanley, Deutsche Bank, UBS and Wells Fargo - were doing business with Hwang.”
Wells Fargo & Company - December 2024
“Over the past 15 years, half of the competitors have left the industry. Bank of Ireland left the US retail portion of the business in 2007 (sold to Pinna, CXI’s current CEO) and left it completely when they sold the US based wholesale division in 2011 to Wells Fargo. HSBC left the industry in 2014 after it was fined for rigging the foreign currency markets with other banks by US and UK regulators along with other issues it was dealing with (compliance, large legal costs and other penalties for alleged French tax fraud). Travelex left in 2020 as they were dealing with a cyberattack just prior to COVID, followed by COVID which took them out. What’s left is currently 3 main players in the US banknote industry: CXI, Wells Fargo and Bank of America.”
Wells Fargo & Company
Fund coverage · 4 theses
- Artisan Value Income StrategyDecember 2025
Wells Fargo is a leading US bank with improving governance, rising ROTCE guidance after the asset cap lift, strong capital returns, a clean credit profile, and an attractive valuation.
Read the full thesis - Davis Financial FundDecember 2025
Wells Fargo & Company is a large traditional U.S. bank with improving growth after asset-cap removal, cost discipline, surplus-capital buybacks, and a reasonable valuation versus expected high-teens ROTCE.
Read the full thesis - Aristotle Value EquitySeptember 2025
With its asset cap lifted and turnaround efforts bearing fruit, Wells Fargo is positioned for renewed balance sheet growth, operational efficiency, and robust shareholder returns—making it a compelling value play with multiple catalysts for long-term appreciation.
Read the full thesis - Artisan Value Income StrategyDecember 2024
Wells Fargo is poised for long-term growth and improved profitability as it works to lift a $1.95 trillion asset cap imposed by the Federal Reserve while enhancing accountability and operational efficiency under CEO Charlie Scharf.
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