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3 bank executives among biggest investors in US banks; Vanguard top overall

The holdings of three bank executives in their respective companies put them among the biggest investors in publicly traded US banks, according to S&P Global Market Intelligence data.

Overall, investment manager Vanguard Group Inc. remained the top investor, particularly in bigger banks with more than $50 billion in assets.

BlackRock Inc. was second overall, but topped investors in the categories of smaller banks, or those with assets at $50 billion or less.

Based on the companies' latest regulatory filings, Vanguard's investments in a total of 331 US banks reached $129.14 billion in market value, while BlackRock had $110.25 billion invested in 329 banks.

State Street Global Advisors Inc. was the third-biggest investor in the sector, with total investments worth $58.53 billion in 304 banks.

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Biggest investors in banks with more than $250B in assets

Vanguard had the highest stake in the country's biggest banks, holding 8.83% of all seven lenders with over $250 billion in assets. The Malvern, Pa.-based asset manager's total investment in this category was valued at $89.21 billion.

BlackRock had $68.52 billion, holding 6.78% overall of the seven biggest banks.

Berkshire Hathaway Inc. invested in only two of the biggest banks but was the fourth-biggest investor in the category, next to State Street.

Massachusetts Financial Services Co. and Dodge & Cox each had investments in only six of the seven biggest banks and landed among the top 20 investors in the category.

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Largest investors in banks with assets between $50B and $250B

Vanguard was the largest investor in banks with assets between $50 billion and $250 billion, holding a total of $20.11 billion, or an 11.13% stake, in the 21 banks in this category.

BlackRock was second, holding $17.40 billion, or a 9.63% stake, in the 21 banks.

State Street was again third, also investing in all of the 21 banks in the category.

First Citizens BancShares Inc. Chairman and CEO Frank Holding Jr. was the only individual among the top 20 investors in the category, with investments in only one bank. Holding's 10.65% stake worth $1.89 billion in First Citizens BancShares made him the 12th-biggest investor in this category.

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Top investors in banks with assets between $10B and $50B

BlackRock was the top investor in banks with assets between $10 billion and $50 billion, with total investments of $18.74 billion, or collectively an 11.74% stake, in all 76 banks in the category.

Vanguard came in second with total holdings of $15.84 billion, or a 9.92% stake overall, in all the banks in the category.

State Street was in third place.

BOK Financial Corp. Chairman George Kaiser was the only individual among the top 20 investors in this category. Kaiser's $3.10 billion worth of investment, or 57.04% stake, in BOK Financial made him the fifth-biggest investor in banks in this category.

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Top investors in smallest banks

BlackRock outdid Vanguard as the top investor in the smallest banks with total investments valued at $5.56 billion, or a 7.66% stake overall, in 223 of 227 banks in this category.

Vanguard ended up second, even though it had investments in all but two banks with assets under $10 billion.

HBT Financial Inc. Executive Chairman Fred Drake was the only individual investor among the top 20 in this category, landing at No. 20. Drake had a 54.05% stake in HBT Financial, the parent company of Heartland Bank and Trust Co., with the investment valued at about $313.0 million.

Teebank Family Ltd. Partnership, the 17th-biggest investor in the smallest public US banks, also had an investment in just one of the 227 banks in the category. The firm has a $380 million, or a 45.16% stake, in Louisville, Ky.-based Republic Bancorp Inc.

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Lion's share

Traditional investment managers had the lion's share of investments in US public banks, holding a total of $826.26 billion.

Financial investors had the second-biggest stake, with total investments valued at $72.67 billion.

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