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First Manhattan Portfolio holdings
AUM
$39.2B
Turnover
13.59%
1-Year Est. Return
21.04%
First Manhattan is an investment management firm founded in 1964 by David Gottesman, and it works mainly for high net worth individuals. Most of the assets it manages are in stocks, which its portfolio managers pick with a cautious, value-oriented approach. The firm also advises private funds focused on the banking industry and on companies that earn most of their revenue in China, along with two ETFs.
This Fund
S&P 500
This Quarter Est. Return
-6.47%
1 Year Est. Return
+21.04%
3 Year Est. Return
+83.94%
5 Year Est. Return
+115.5%
10 Year Est. Return
+416.22%
AUM
$15.6B
AUM Growth
-$1.38B
(-8.1%)
Cap. Flow
-$102M
Cap. Flow % of AUM
Cap. Flow %
-0.65%
Top 10 Holdings %
Top 10 Hldgs %
41.87%
Holding
1,564
New
58
Increased
166
Reduced
387
Closed
64
Avg Time Held
1.8
years
Top 10 Avg Time Held
1.6
years
Top 20 Avg Time Held
1.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PayPal
PYPL
|
+$88.9M |
| 2 |
RTX Corp
RTX
|
+$68.5M |
| 3 |
Philip Morris
PM
|
+$54.3M |
| 4 |
AGN
Allergan plc
AGN
|
+$42.2M |
| 5 |
AT&T
T
|
+$37.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class A
BRK.A
|
+$136M |
| 2 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$61.7M |
| 3 |
Oracle
ORCL
|
+$46.7M |
| 4 |
eBay
EBAY
|
+$43.4M |
| 5 |
VIAB
Viacom Inc. Class B
VIAB
|
+$27.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 36.05% |
| 2 | Healthcare | 13.23% |
| 3 | Industrials | 9.47% |
| 4 | Miscellaneous | 9.05% |
| 5 | Technology | 7.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.22T
| $2.95B | 18.96% |
15,110
-662
| -4% | -$136M |
2013 Q2
9 quarters
|
|
2
Brookfield
BN
$92.4B
| $555M | 3.56% |
50,225,528
+508,719
| +1% | +$5.93M |
2013 Q2
9 quarters
|
|
3
Microsoft
MSFT
$3.94T
| $388M | 2.5% |
8,777,489
+214,026
| +2% | +$9.6M |
2013 Q2
9 quarters
|
|
4
CVS Health
CVS
$107B
| $351M | 2.25% |
3,632,997
-71,836
| -2% | -$7.55M |
2013 Q2
9 quarters
|
|
5
Berkshire Hathaway Class B
BRK.B
$1.22T
| $340M | 2.19% |
2,608,219
+34,408
| +1% | +$4.71M |
2013 Q2
9 quarters
|
|
6
Wells Fargo
WFC
$252B
| $310M | 1.99% |
6,036,593
+87,231
| +1% | +$4.8M |
2013 Q2
9 quarters
|
|
7
American International
AIG
$40.3B
| $292M | 1.87% |
5,132,822
+167,572
| +3% | +$10.2M |
2013 Q2
9 quarters
|
|
8
H&R Block
HRB
$6.45B
| $278M | 1.79% |
7,676,714
+257,146
| +3% | +$8.71M |
2013 Q2
9 quarters
|
|
9
AB InBev
BUD
$165B
| $269M | 1.73% |
2,531,216
-33,212
| -1% | -$3.86M |
2013 Q2
9 quarters
|
|
10
Johnson & Johnson
JNJ
$665B
| $267M | 1.71% |
2,854,936
+31,032
| +1% | +$3M |
2013 Q2
9 quarters
|
|
|
11
RTX Corp
RTX
$256B
| $246M | 1.58% |
4,389,462
+1,111,975
| +34% | +$68.5M |
2013 Q2
9 quarters
|
|
12
Zimmer Biomet
ZBH
$20B
| $238M | 1.53% |
2,606,387
+211,847
| +9% | +$21.2M |
2013 Q2
9 quarters
|
|
13
Apple
AAPL
$4.98T
| $232M | 1.49% |
8,422,712
+1,010,088
| +14% | +$29.6M |
2013 Q2
9 quarters
|
|
14
Aramark
ARMK
$13.9B
| $207M | 1.33% |
9,678,060
+291,328
| +3% | +$6.65M |
2014 Q2
5 quarters
|
|
15
Danaher
DHR
$162B
| $204M | 1.31% |
3,570,587
+240,694
| +7% | +$14.2M |
2013 Q2
9 quarters
|
|
16
Honeywell
HON
$69.7B
| $201M | 1.3% |
2,367,714
+41,308
| +2% | +$3.76M |
2013 Q2
9 quarters
|
|
|
17
Oracle
ORCL
$362B
| $188M | 1.21% |
5,202,028
-1,213,735
| -19% | -$46.7M |
2013 Q2
9 quarters
|
|
18
Perrigo
PRGO
$2.2B
| $173M | 1.11% |
1,102,536
+92,330
| +9% | +$16.9M |
2014 Q1
6 quarters
|
|
|
DISCK
19
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $168M | 1.08% |
6,902,910
-38,004
| -0.5% | -$1.05M |
2013 Q2
9 quarters
|
|
20
Gilead Sciences
GILD
$207B
| $151M | 0.97% |
1,533,542
-19,203
| -1% | -$2.13M |
2013 Q2
9 quarters
|
|
|
21
Philip Morris
PM
$308B
| $141M | 0.9% |
1,772,967
+660,275
| +59% | +$54.3M |
2013 Q2
9 quarters
|
|
22
ConocoPhillips
COP
$161B
| $136M | 0.88% |
2,841,184
-164,712
| -5% | -$8.38M |
2013 Q2
9 quarters
|
|
23
IBM
IBM
$232B
| $125M | 0.81% |
905,073
-8,959
| -1% | -$1.32M |
2013 Q2
9 quarters
|
|
24
Comcast
CMCSA
$86.6B
| $125M | 0.8% |
4,396,938
-25,250
| -0.6% | -$750K |
2013 Q2
9 quarters
|
|
25
Accenture
ACN
$154B
| $121M | 0.78% |
1,231,461
-6,632
| -0.5% | -$658K |
2013 Q2
9 quarters
|
|
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First Manhattan's Q3 2015 Portfolio in Review
As of Q3 2015, First Manhattan held 1,564 positions worth $15.6B, down 8.1% from $16.9B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
First Manhattan's Q3 2015 filing shows 58 new, 166 increased, 387 reduced and 64 closed positions. Its largest new stake was PayPal: 2,481,174 shares worth $77M. The largest sale was Berkshire Hathaway Class A, an estimated $136M.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 36% a quarter earlier, followed by Healthcare and Industrials.
- First Manhattan's largest Q3 2015 buy was PayPal: 2,481,174 shares worth $77M.
- First Manhattan added most to RTX Corp in Q3 2015, an estimated $68.5M increase.
- First Manhattan's biggest Q3 2015 reduction was Berkshire Hathaway Class A, cutting an estimated $136M.
- First Manhattan fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $61.7M.
- First Manhattan's ten largest holdings make up 42% of its $15.6B portfolio in Q3 2015.
- First Manhattan opened 58 new positions and closed 64 in Q3 2015.
- First Manhattan's portfolio value fell 8.1% quarter-over-quarter to $15.6B.
Based on First Manhattan's 13F filing for Q3 2015, filed 26 Oct 2015.