The food of 159 young‐of‐the‐year American smelt (Osmerus mordax) and 256 I‐group and older fish from Saginaw Bay was examined. Thirty‐one stomachs from the first group and 35 from the second were empty. Collections were made by bottom trawl and gill nets at seven localities in depths of 2 to 26 fathoms on 11 dates from July 21 to November 1, 1956. The O‐group smelt contained mostly crustaceans which were present in all stomachs that contained food. Copepods were taken more frequently than cladocerans. Other food items were Rotatoria, small unidentified eggs, and algal remains. Crustaceans, insects, and fish made up nearly all of the food of the I‐group and older smelt. Mean percentage frequency of occurrence and percentage of total volume were: crustaceans, 71 and 36 percent; insects, 31 and 44 percent; fish, 8 and 20 percent. Most important crustaceans were cladocerans and Mysis, the predominant insect was Hexagenia, and all fish were young Notropis or smelt. Saginaw Bay smelt compete for food with young of all associated species and with the adults of some. They did not eat commercially exploited fish other than smelt.