M&T Bank Corp
Long book
$30.53B
Q1 2026
Positions
1683
Top-10 weight
29%
concentration
Last quarter
+16.5%
SPY +16.5%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsM&T Bank Corp is a mechanically diversified allocator, running a $30.53B US long book across 1683 positions.
The portfolio is moderately concentrated (top 10 ≈ 29% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES CORE MSCI EAFE ETF, APPLE INC, ISHARES RUSSELL 1000 GROWTH, ISHARES RUSSELL 1000 ETF, ISHARES CORE S&P 500 ETF.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.2%
Q2 2024
+6.7%
Q3 2024
+0.0%
Q4 2024
-2.7%
Q1 2025
+8.7%
Q2 2025
+7.6%
Q3 2025
+2.8%
Q4 2025
-1.5%
Q1 2026
+16.5%
Sector allocation
Technology 35%
Financials 13%
Industrials 10%
Healthcare 10%
Consumer discretionary 9%
Energy 6%
Services media 4%
Consumer staples 4%
Long book by quarter
What does M&T Bank own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 4.7M | $1.19B | 3.9% | -1.7% |
| MSFT MICROSOFT CORP | Technology | 2.0M | $744.9M | 2.4% | -0.7% |
| NVDA NVIDIA CORP | Technology | 3.6M | $636.3M | 2.1% | +0.8% |
| GOOG ALPHABET INC-CL C | Technology | 2.0M | $575.2M | 1.9% | -1.0% |
| JPM JPMORGAN CHASE & CO | Financials | 1.8M | $521.9M | 1.7% | -1.3% |
| AVGO BROADCOM INC | Technology | 1.5M | $475.8M | 1.6% | -2.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.1M | $442.6M | 1.4% | +0.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.6M | $381.9M | 1.3% | -1.1% |
| XOM EXXON MOBIL CORP | Energy | 1.8M | $300.6M | 1.0% | -3.9% |
| GOOGL ALPHABET INC-CL A | Technology | 1.0M | $296.5M | 1.0% | +1.1% |
| MTB M & T BANK CORP | Financials | 1.1M | $237.2M | 0.8% | -23.0% |
| META META PLATFORMS INC-CLASS A | Technology | 410.3K | $234.8M | 0.8% | -0.2% |
| LLY ELI LILLY & CO | Healthcare | 245.3K | $225.6M | 0.7% | -2.2% |
| ABBV ABBVIE INC | Healthcare | 961.9K | $209.2M | 0.7% | -1.3% |
| CVX CHEVRON CORP | Energy | 984.5K | $203.7M | 0.7% | +2.0% |
| MA MASTERCARD INC - A | Services media | 397.4K | $198.6M | 0.7% | -0.2% |
| CSCO CISCO SYSTEMS INC | Technology | 2.5M | $197.8M | 0.6% | -1.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 197.7K | $197.0M | 0.6% | -0.6% |
| HD HOME DEPOT INC | Consumer discretionary | 570.9K | $187.8M | 0.6% | -1.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 1.2M | $178.3M | 0.6% | -0.9% |
| MRK MERCK & CO. INC. | Healthcare | 1.5M | $175.6M | 0.6% | -1.1% |
| PEP PEPSICO INC | Consumer staples | 1.0M | $162.6M | 0.5% | -1.6% |
| BAC BANK OF AMERICA CORP | Financials | 3.3M | $162.1M | 0.5% | -1.3% |
| CTVA CORTEVA INC | Consumer staples | 1.8M | $153.4M | 0.5% | -1.0% |
| BLK BLACKROCK INC | Financials | 146.0K | $140.4M | 0.5% | -2.1% |
| CAT CATERPILLAR INC | Industrials | 191.9K | $136.0M | 0.4% | -3.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 280.3K | $134.3M | 0.4% | -0.6% |
| ADI ANALOG DEVICES INC | Technology | 420.6K | $133.8M | 0.4% | -2.0% |
| COP CONOCOPHILLIPS | Energy | 990.1K | $130.7M | 0.4% | -1.9% |
| MS MORGAN STANLEY | Financials | 788.8K | $129.8M | 0.4% | -1.2% |
| TSLA TESLA INC | Industrials | 341.3K | $126.9M | 0.4% | -0.4% |
| ORCL ORACLE CORP | Technology | 860.0K | $126.5M | 0.4% | -2.5% |
| UNP UNION PACIFIC CORP | Industrials | 472.8K | $114.7M | 0.4% | -0.5% |
| LMT LOCKHEED MARTIN CORP | Industrials | 182.3K | $110.2M | 0.4% | -1.0% |
| QCOM QUALCOMM INC | Technology | 800.7K | $103.1M | 0.3% | -2.6% |
| AMAT APPLIED MATERIALS INC | Technology | 295.3K | $100.9M | 0.3% | -0.1% |
| RTX RTX CORP | Industrials | 520.8K | $100.5M | 0.3% | -0.8% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 604.8K | $100.0M | 0.3% | -0.9% |
| JCI JOHNSON CONTROLS INTERNATION | Industrials | 762.9K | $99.9M | 0.3% | -6.9% |
| MCD MCDONALD'S CORP | Consumer discretionary | 305.4K | $94.9M | 0.3% | -0.4% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 390.5K | $94.7M | 0.3% | -0.6% |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 325.6K | $94.6M | 0.3% | -1.1% |
| NEE NEXTERA ENERGY INC | Utilities | 994.1K | $92.3M | 0.3% | -0.6% |
| Q QNITY ELECTRONICS INC | Technology | 796.5K | $91.9M | 0.3% | -0.5% |
| KO COCA-COLA CO/THE | Consumer staples | 1.2M | $89.7M | 0.3% | -0.2% |
| ABT ABBOTT LABORATORIES | Healthcare | 865.4K | $88.8M | 0.3% | +0.9% |
| AEP AMERICAN ELECTRIC POWER | Utilities | 672.4K | $88.1M | 0.3% | -1.4% |
| PSX PHILLIPS 66 | Energy | 477.8K | $87.1M | 0.3% | -0.3% |
| VLO VALERO ENERGY CORP | Energy | 340.9K | $84.2M | 0.3% | +2.0% |
| V VISA INC-CLASS A SHARES | Services media | 277.0K | $83.7M | 0.3% | -3.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | Sep 4, 2026 | 13689 | $30.53B | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | May 12, 2026 | 11679 | $29.22B | SEC ↗ | |
| Q4 2025 | 13F-HR/ARESTATEMENT | Jan 30, 2026 | 13537 | $31.15B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 28, 2026 | 13537 | $31.15B | SEC ↗ | |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 11057 | $29.74B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 12763 | $29.10B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 12560 | $27.45B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 6, 2025 | 12588 | $29.84B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR/ARESTATEMENT | Nov 19, 2024 | 12380 | $30.41B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 15, 2024 | 12382 | $30.43B | SEC ↗ | |
| Q2 2024 | 13F-HR | Jul 31, 2024 | 13249 | $29.30B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 7, 2024 | 13141 | $28.74B | canonical | SEC ↗ |
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