M&T Bank Corp
Reported US equity positions for Q1 2026 — $29.2B across 11,542 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| IEFA iShares Core MSCI EAFE ETF | $1.2B | 4.1% | 13,195,103 |
| AAPL Apple Inc. | $1.2B | 4.0% | 4,632,711 |
| IWF iShares Russell 1000 Growth Fund | $1.1B | 3.8% | 2,624,582 |
| IWB iShares Russell 1000 ETF | $998.2M | 3.4% | 2,799,423 |
| IVV iShares Core S&P 500 ETF | $821.7M | 2.8% | 1,258,002 |
| IWD iShares Russell 1000 Value ETF | $757.5M | 2.6% | 3,545,083 |
| MSFT Microsoft Corporation | $730.7M | 2.5% | 1,973,948 |
| IEMG iShares Core MSCI Emerging Markets ETF | $648.0M | 2.2% | 9,289,811 |
| NVDA NVIDIA Corporation | $618.0M | 2.1% | 3,543,457 |
| GOOG Alphabet Inc. - Class C Capital Stock | $564.2M | 1.9% | 1,966,885 |
| QUAL iShares MSCI USA Quality Factor ETF | $547.8M | 1.9% | 2,855,781 |
| JPM JP Morgan Chase & Co. | $511.4M | 1.8% | 1,738,460 |
| IWM iShares Russell 2000 Index Fund | $508.4M | 1.7% | 2,050,047 |
| AVGO Broadcom Inc. | $463.9M | 1.6% | 1,498,928 |
| IVW iShares S&P 500 Growth ETF | $442.8M | 1.5% | 3,914,423 |
| AMZN Amazon.com, Inc. | $433.8M | 1.5% | 2,083,079 |
| JNJ Johnson & Johnson | $377.4M | 1.3% | 1,543,823 |
| VEA Vanguard FTSE Developed Markets ETF | $362.5M | 1.2% | 5,657,116 |
| SPY State Street SPDR S&P 500 ETF Trust | $307.7M | 1.1% | 473,070 |
| XOM ExxonMobil Holdings Corporation | $296.9M | 1.0% | 1,750,248 |
| BND Vanguard Total Bond Market ETF | $295.8M | 1.0% | 4,016,196 |
| GOOGL Alphabet Inc. | $292.3M | 1.0% | 1,016,567 |
| VOO Vanguard S&P 500 ETF | $285.1M | 1.0% | 477,144 |
| TSPA T. Rowe Price U.S. Equity Research ETF | $232.9M | 0.8% | 5,694,404 |
| META Meta Platforms, Inc. | $228.6M | 0.8% | 399,578 |
| LLY Eli Lilly and Company | $221.2M | 0.8% | 240,540 |
| ABBV AbbVie Inc. | $204.8M | 0.7% | 941,726 |
| CVX Chevron Corporation | $197.3M | 0.7% | 953,754 |
| MA Mastercard Incorporated | $195.1M | 0.7% | 390,438 |
| COST Costco Wholesale Corporation | $193.0M | 0.7% | 193,664 |
| CSCO Cisco Systems, Inc. | $192.9M | 0.7% | 2,485,799 |
| IWN iShares Russell 2000 Value ETF | $192.8M | 0.7% | 1,016,792 |
| HD The Home Depot, Inc. | $184.4M | 0.6% | 560,669 |
| PG The Procter & Gamble Company | $175.5M | 0.6% | 1,215,075 |
| MRK Merck & Company, Inc. Common Stock (new) | $174.8M | 0.6% | 1,453,030 |
| JMTG J P Morgan Exchange Traded F | $170.6M | 0.6% | 3,346,040 |
| IVE iShares S&P 500 Value ETF | $166.0M | 0.6% | 786,105 |
| PEP PepsiCo, Inc. | $160.0M | 0.5% | 1,030,582 |
| EFA iShares MSCI EAFE ETF | $155.6M | 0.5% | 1,601,703 |
| BAC Bank of America Corporation | $154.9M | 0.5% | 3,177,900 |
| CTVA Corteva, Inc. | $152.8M | 0.5% | 1,825,753 |
| BLK BlackRock, Inc. | $136.8M | 0.5% | 142,198 |
| VWO Vanguard FTSE Emerging Markets ETF | $134.1M | 0.5% | 2,480,565 |
| BRK.B Berkshire Hathaway Inc. | $133.8M | 0.5% | 279,146 |
| CAT Caterpillar, Inc. | $133.0M | 0.5% | 187,795 |
| ADI Analog Devices, Inc. | $131.2M | 0.4% | 412,354 |
| COP ConocoPhillips | $130.2M | 0.4% | 986,659 |
| VGSH Vanguard Short-Term Treasury ETF | $126.6M | 0.4% | 2,162,215 |
| MTB M&T Bank Corporation | $125.8M | 0.4% | 608,377 |
| ORCL Oracle Corporation | $124.8M | 0.4% | 848,632 |
| MS Morgan Stanley | $124.6M | 0.4% | 757,323 |
| TSLA Tesla, Inc. | $122.6M | 0.4% | 329,863 |
| REET iShares Global REIT ETF | $119.6M | 0.4% | 4,755,008 |
| UNP Union Pacific Corporation | $112.2M | 0.4% | 462,370 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $111.1M | 0.4% | 328,640 |
| IJR iShares Core S&P Small-Cap ETF | $110.2M | 0.4% | 886,442 |
| IWO iShares Russell 2000 Growth Fund | $109.4M | 0.4% | 348,576 |
| LMT Lockheed Martin Corporation | $107.5M | 0.4% | 177,910 |
| QCOM QUALCOMM Incorporated | $100.4M | 0.3% | 779,545 |
| AMAT Applied Materials, Inc. | $100.2M | 0.3% | 293,241 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| MSFT Microsoft Corporation | Add | $730.7M | $74.0M | +2,156% |
| JNJ Johnson & Johnson | Trim | $377.4M | $420.2M | -27% |
| XOM ExxonMobil Holdings Corporation | Add | $296.9M | $60.5M | +153% |
| VOO Vanguard S&P 500 ETF | Trim | $285.1M | $301.0M | -5% |
| LLY Eli Lilly and Company | Trim | $221.2M | $64.3M | -24% |
| VWO Vanguard FTSE Emerging Markets ETF | Trim | $134.1M | $135.3M | -1% |
| VGSH Vanguard Short-Term Treasury ETF | Trim | $126.6M | $199.5M | -37% |
| ORCL Oracle Corporation | Add | $124.8M | $54.9M | +175% |
| PM Philip Morris International Inc | Add | $97.3M | $93.5M | +14% |
| VGT Vanguard Information Tech ETF | Trim | $92.0M | $105.5M | -11% |
| NEE NextEra Energy, Inc. | Add | $90.6M | $70.4M | +311% |
| PSX Phillips 66 | Trim | $86.8M | $456.6M | -83% |
| AEP American Electric Power Company, Inc. | Trim | $84.4M | $242.8M | -18% |
| V Visa Inc. | Trim | $83.2M | $102.1M | -7% |
| VLO Valero Energy Corporation | Trim | $81.1M | $61.7M | -18% |
| DE Deere & Company | Trim | $80.1M | $155.6M | -92% |
| WMT Walmart Inc. | Trim | $77.6M | $74.8M | -5% |
| VTV Vanguard Morningstar Value ETF | Add | $77.1M | $59.9M | +24% |
| VB Vanguard Morningstar Small-Cap ETF | Trim | $76.8M | $82.0M | -12% |
| BAC Bank of America Corporation | Trim | $72.1M | $102.3M | -18% |
| VUG Vanguard Morningstar Growth ETF | Add | $60.9M | $55.5M | +21% |
| AMGN Amgen Inc. | Add | $58.1M | $54.6M | +12% |
| DOW Dow Inc. | Add | $50.7M | $66.4M | +319% |
| MET MetLife, Inc. | Add | $48.9M | $68.2M | +831% |
| VLUE iShares MSCI USA Value Factor ETF | Add | $44.6M | $85.5M | +22% |
| G5960L103 Medtronic PLC | Add | $42.2M | $62.4M | +28% |
| NSC Norfolk Southern Corporation | Trim | $40.2M | $81.9M | -82% |
| VTEB Vanguard Tax-Exempt Bond ETF | Trim | $39.7M | $61.3M | -6% |
| GEV GE Vernova Inc. | Trim | $38.2M | $46.9M | -41% |
| VNQ Vanguard Real Estate ETF | Trim | $32.0M | $51.3M | -29% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.