2026-Q1 Bank of New York Mellon Corp 13F Filing: MSFT -$7.21B leads BNY Mellon's 13F cuts

Bank of New York Mellon Corp's latest 13F filing provides a detailed snapshot of its U.S.-listed equity portfolio as of March 31, 2026. This walkthrough will teach you how to read the filing's key signals, using real data from the report.

1. What a 13F filing actually discloses An institutional investment manager with $100 million or more in equities must file Form 13F within 45 days of each quarter's end. It lists all long equity positions, including the number of shares, market value, and the portfolio weight. This BNY Mellon filing covers 4,175 holdings, with a heavy concentration in Information Technology (0.2923 of the portfolio). The HHI concentration index fell to 0.0097 from 0.0116 in the prior quarter, indicating slightly more diversification, while the turnover ratio rose to 0.1865 from 0.1358, reflecting increased trading activity.

2. How to spot a genuinely new position vs. an existing one The 'action' field is your guide. A 'new_buy' means the position did not exist last quarter. In this filing, BNY Mellon started four new holdings: BMOP ($1.71B, 0.31%% of portfolio), BKMI ($1.60B, 0.29%%), AZN ($1.32B, 0.24%%), and BKMS ($422.0M, 0.08%%). These represent fresh capital allocations rather than additions to existing positions.

3. How to read a trim vs. a full exit A 'trim' means the manager reduced share count but still holds the stock; a 'sold_out' would mean a complete exit (none here). Among trims, some—like XOM—show a value increase despite the sale because the stock price surged. XOM's dollar value rose +$1.91B, even though BNY Mellon trimmed shares, as price gains outpaced the reduction. Conversely, a stock like ORCL was added (action 'add'), yet its dollar value declined -$558.4M because the stock price fell more than the extra shares were worth. Always check the action alongside the value change to avoid misinterpreting price-driven moves as buy or sell signals.

4. What an unchanged holding tells you If the action is 'unchanged', any change in dollar value or weight is caused purely by the stock's price movement during the quarter, not by the manager. While this filing's top changes all reflect active decisions (trim, add, new_buy), the overall holding count edged up from 4,159 to 4,175, indicating net new positions after accounting for any full exits.

5. What the overall pattern of moves reveals about portfolio strategy The dominant theme this quarter is reduction in mega-cap technology. BNY Mellon trimmed positions in MSFT (value decreased -$7.21B), AAPL (decreased -$3.22B), NVDA (decreased -$2.63B), and others. At the same time, it added to names like TXN (increased +$1.06B), FITB (increased +$699.9M), SLB (increased +$662.5M), and VZ (increased +$629.5M). The sector weights confirm this rotation: Information Technology dropped from 0.3147 to 0.2923, while Financials moved from 0.1387 to 0.1302 and Energy increased from 0.0390 to 0.0565. The fund also deployed capital into four new positions. The higher turnover ratio confirms active rebalancing away from growth tech toward more value-oriented sectors.

This Quarter at a Glance