M&T BANK CORP

CIK 0000036270 · Q1 2026

13F Equity AUM

$29.2B

-6.2% QoQ

Positions

1,674

+5 QoQ

AUM Rank

#320

Top 3%

Skill Alpha (FF)

-1.2%/yr^ns

No Clear Edge

Rank #4,057 · Top 49%

vs S&P -4.7%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 18.2%Top 10: 29.5%Top 20: 44.1%

IEFA4.1%

AAPL4.0%

IWF3.8%

IWB3.4%

IVV2.8%

IWD2.6%

MSFT2.5%

IEMG2.2%

NVDA2.1%

GOOG1.9%

Others (1664)70.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services50.0%

Technology16.1%

Healthcare6.4%

Industrials5.7%

Communication Services4.8%

Consumer Cyclical4.5%

Energy3.8%

Consumer Defensive3.3%

Other5.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 1674Median: 0.00%Avg: 0.06%

0–0.5%

1633(41.5%)

0.5–1%

19(12.4%)

1–3%

18(30.7%)

3–5%

4(15.4%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 1,671Unique: 3vs 20 funds

22.9%Moderate

1,674

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

31.7%

BANK OF AMERICA CORP /DE/

34.5%

32.9%

37.9%

47.3%

36.5%

VANGUARD CAPITAL MANAGEMENT LLC

35.8%

GEODE CAPITAL MANAGEMENT, LLC

34.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

39.8%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New101Increased469Decreased1016Exited97

New Positions

AZN0.1%

+124K

AMCOR PLC0.0%

+71K

QIAGEN NV0.0%

+49K

TEVA0.0%

+98K

BNY MELLON ETF TRUST…0.0%

+62K

BNY MELLON ETF TRUST…0.0%

+78K

WMG0.0%

+9K

LIVN0.0%

+5K

HNGE0.0%

+15K

RARE0.0%

+11K

Increased

T0.1%

+608K(+65%)

LYG0.0%

+390K(+458%)

DOC0.1%

+244K(+18%)

BND1.0%

+179K(+5%)

PFE0.3%

+121K(+5%)

IWF3.8%

+99K(+4%)

VTV0.3%

+85K(+28%)

DOW0.2%

+62K(+5%)

FMC0.0%

+55K(+79%)

SHY0.1%

+55K(+15%)

Decreased

VGSH0.4%

-1,227,661(-36%)

JMTG0.6%

-889,752(-21%)

MTB0.4%

-881,972(-59%)

IEFA4.1%

-493,486(-4%)

FLXR0.1%

-487,281(-36%)

IEMG2.2%

-449,512(-5%)

JPLD0.1%

-385,535(-37%)

EAGG0.1%

-360,378(-43%)

QUAL1.9%

-259,037(-8%)

IWD2.6%

-239,962(-6%)

Exited

AZN

-213,762

AMCCD

-286,437

CYBR

-3,904

QIAGEN NV

-48,152

-18,052

-1,921

-9,952

-22,760

-21,500

-6,922

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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