Vanguard Group Inc. and BlackRock Inc. are the top investors in US banks with assets ranging from less than $10 billion to more than $250 billion.
Vanguard's bank holdings were valued at an estimated $127.98 billion and BlackRock's at $110.32 billion as of March 29, according to S&P Global Market Intelligence analysis. Vanguard and BlackRock hold stakes in 336 and 334 banks, respectively, out of 338 covered in the analysis.
Top investors in banks with assets over $250B
Vanguard and BlackRock both held stakes in the seven banks with assets of more than $250 billion.
State Street Global Advisors Inc. took the third spot, holding 4.20% stakes in the seven banks at the end of 2022, valued at $41.26 billion.
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Of the top 20 investors in these banks, Berkshire Hathaway Inc. and Dodge & Cox were the only investors not to hold stakes in all seven.
Warren Buffett's Berkshire Hathaway held a 3.21% stake in only three banks, valued at $31.48 billion, and Dodge & Cox had a 0.64% stake in six banks valued at $6.33 billion.
Investors in banks with assets between $50B and $250B
Among the top 20 investors in banks with assets between $50 billion and $250 billion, three — Capital Research & Mgmt Co., Boston Partners Global Investors Inc. and Frank Holding Jr. — did not hold stakes in all 20 banks in the category.
Frank Holding Jr. had the fewest positions in this category. The First Citizens BancShares Inc.'s CEO and chairman held a 0.78% stake in the company, valued at $1.40 billion.
Capital Research held a 2.44% stake in 11 banks, valued at $4.40 billion as of March 29, making it the fourth-largest investor in banks in this category. Boston Partners held a 0.98% stake in 18 banks valued at $1.76 billion.
Once again, Vanguard, BlackRock and State Street were the top three investors in this category.
Top investors at banks with assets between $10B and $50B
Vanguard, BlackRock and State Street were also the top three investors in banks with assets between $10 billion and $50 billion, with all three money managers owning a stake in all 73 banks in the category.
Despite holding a stake in one bank each, George Kaiser and Columbia Bank MHC were among the top 20 investors in the category.
With a 1.80% stake valued at $3.24 billion in one of the banks, Kaiser, chairman of BOK Financial Corp., was one of the top five investors in banks with assets between $10 billion and $50 billion. Columbia Bank MHC held a 0.76% stake in one bank valued at $1.38 billion.
Largest investors in small banks
Vanguard held the most positions in banks with assets less than $10 billion. The money manager held a 5.6% stake in 236 of the 238 banks in the category. The stakes were valued at a combined $4.92 billion.
Teebank Family Ltd. Partnership held the fewest positions among the top 20 investors. The asset manager owned a 0.42% stake in Republic Bancorp Inc. valued at $365 million.
