{
 "company": "M&T Bank",
 "ticker": "MTB",
 "page": "https://www.moatshark.com/s/mtb",
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holders": [
  {
   "manager": "Smead Capital Management",
   "moatshark_slug": "smead-capital-management",
   "period": "2026-09-30",
   "portfolio_pct": 1.27,
   "value_usd": 59666869,
   "change": "REDUCE",
   "share_change_pct": -1.2,
   "quarters_held": 12
  },
  {
   "manager": "Matrix Asset Advisors",
   "moatshark_slug": "matrix-asset-advisors",
   "period": "2026-09-30",
   "portfolio_pct": 1.14,
   "value_usd": 13872914,
   "change": "REDUCE",
   "share_change_pct": -19.1,
   "quarters_held": 26
  },
  {
   "manager": "Davis Selected Advisers",
   "moatshark_slug": "davis-selected-advisers",
   "period": "2026-06-30",
   "portfolio_pct": 0.06,
   "value_usd": 13821717,
   "change": "REDUCE",
   "share_change_pct": -3.7,
   "quarters_held": 25
  },
  {
   "manager": "Giverny Capital",
   "moatshark_slug": "giverny-capital",
   "period": "2026-06-30",
   "portfolio_pct": 0,
   "value_usd": 0,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 20
  }
 ]
}