Giverny Capital Asset Management, LLC published its Q2 2025 investor letter, noting market volatility. S&P 500 ended June up 6.20%, with the portfolio gaining 5.41% in the first half. The portfolio returned 9.11% in Q2, lagging behind the S&P 500’s 10.94% return. Review the fund’s top 5 holdings for 2025 picks.

In the Q2 2025 letter, Giverny Capital highlighted M&T Bank Corporation (NYSE:MTB). MTB is a bank holding company with -7.85% one-month return and 15.95% 52-week share gain. On August 5, 2025, MTB stock closed at $188.04 per share with a market cap of $29.385 billion. The investment firm exited its position due to growth concerns.

M&T Bank Corporation (NYSE:MTB) is not among the 30 most popular stocks among hedge funds. While 52 hedge funds held MTB in Q1, down from 46 in the previous quarter, the firm sees potential in AI stocks with greater upside and lower risk. Consider undervalued AI stocks for investment opportunities.

Read more at Yahoo Finance: Here’s Why Giverny Capital Asset Management Sold Its Stake in M&T Bank Corporation (MTB)