Institutional Capital’s M&T Bank MTB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	$172M	Sell	1,099,031 -827,977	-43%	-$130M	2.55%	23
2016 Q3	$224M	Buy	1,927,008 +457,310	+31%	+$53.1M	3.08%	14
2016 Q2	$174M	Buy	+1,469,698	New	+$174M	2.13%	25