Vanguard reports 4.85% stake in M&T Bank

Vanguard Portfolio Management LLC, together with specified affiliates, reports beneficial ownership of M&T Bank Corp common stock on an amended Schedule 13G. The group reports beneficial ownership of 7,102,697 shares, representing 4.85% of the class.

Rhea-AI Filing Summary

Vanguard Portfolio Management LLC, together with specified affiliates, reports beneficial ownership of M&T Bank Corp common stock on an amended Schedule 13G. The group reports beneficial ownership of 7,102,697 shares, representing 4.85% of the class.

Vanguard Portfolio Management has sole voting power over 22,160 shares and sole dispositive power over 7,102,697 shares, with no shared voting or dispositive power. The holdings include securities held by Vanguard funds and certain client accounts where Vanguard-affiliated entities exercise voting and/or dispositive power, and expressly exclude other disaggregated Vanguard affiliates.

Key Figures

Shares beneficially owned: 7,102,697 shares Percent of class owned: 4.85% Sole voting power: 22,160 shares +2 more

5 metrics

Shares beneficially owned 7,102,697 shares M&T Bank Corp common stock reported by Vanguard Portfolio Management

Percent of class owned 4.85% Portion of M&T Bank Corp common stock class beneficially owned

Sole voting power 22,160 shares Shares of M&T Bank Corp over which Vanguard has sole voting power

Sole dispositive power 7,102,697 shares Shares of M&T Bank Corp over which Vanguard has sole dispositive power

Form date 07/31/2026 Date signed by Authorized Signatory for the Schedule 13G/A

Key Terms

beneficially owned, dispositive power, sole voting power, Schedule 13G, +1 more

5 terms

beneficially owned financial

"this reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

dispositive power financial

"exercises dispositive power, in addition to securities held by clients"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

sole voting power financial

"Sole Voting Power 22,160.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Schedule 13G regulatory

"In accordance with SEC Release No. 34-39538 ... ownership of securities is disaggregated"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

percent of class financial

"Percent of class: 4.85 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many M&T Bank (MTB) shares does Vanguard Portfolio Management report owning?

Vanguard Portfolio Management reports beneficial ownership of 7,102,697 shares of M&T Bank Corp common stock, as disclosed in the amended Schedule 13G filing, representing a sizable institutional position in the company.

What percentage of M&T Bank (MTB) is owned by Vanguard Portfolio Management?

Vanguard Portfolio Management reports holding 4.85% of the class of M&T Bank Corp common stock. This percentage reflects the total beneficial ownership attributed to Vanguard Portfolio Management and specified affiliates in the Schedule 13G/A.

What voting power does Vanguard Portfolio Management have over M&T Bank (MTB) shares?

Vanguard Portfolio Management reports sole voting power over 22,160 shares of M&T Bank Corp and no shared voting power. Voting authority over the remaining beneficially owned shares is not reported as shared in this filing.

What dispositive power does Vanguard Portfolio Management report for its M&T Bank (MTB) holdings?

Vanguard Portfolio Management has sole dispositive power over 7,102,697 shares of M&T Bank Corp common stock and no shared dispositive power, meaning it can direct the disposition of those shares on its own authority.

Which Vanguard entities are included in this M&T Bank (MTB) ownership report?

The filing covers securities beneficially owned by Vanguard Portfolio Management LLC and affiliates including Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC, plus Vanguard funds and managed accounts where these entities have dispositive and/or voting power.

Does any single other person hold more than 5% of M&T Bank (MTB) through Vanguard’s reported holdings?

No. The filing states that no one other person's interest in the securities reported is more than 5%, even though Vanguard Portfolio Management and related accounts collectively hold 4.85% of the class.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/31/2026 - 11:22 AM Accepted by SEC EDGAR 07/31/2026 - 11:21 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

M&T Bank Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

55261F104

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 55261F104

1

Names of Reporting Persons

Vanguard Portfolio Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 22,160.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,102,697.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,102,697.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.85 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: M&T Bank Corp
(b)	Address of issuer's principal executive offices: 1 M And T Plz, Buffalo, NY, 14203
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 55261F104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7102697
(b)	Percent of class: 4.85 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 22160
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7102697
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vanguard Portfolio Management

Signature:	My Trieu-Gatt
Name/Title:	Authorized Signatory, Head of Global Fund Administration
Date:	07/31/2026