If you think midsize law firms, regional firms, and boutiques are fighting over the scraps of corporate America’s most valuable matters, you’re the opposite of right.

That’s according to a new report from Wolters Kluwer’s LegalView Insights. After analyzing $150 billion in law firm invoices from the company’s e-billing tools, spanning 2015 to 2020, director of legal operations and industry insights Nathan Cemenska found that nearly 28% of “megamatters”—those matters that generate more than $1 million in legal spend—went to small and midsize law firms.