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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
+9.64%
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
$27.3B
AUM Growth
+$1.22B
(+4.7%)
Cap. Flow
-$932M
Cap. Flow % of AUM
Cap. Flow %
-3.41%
Top 10 Holdings %
Top 10 Hldgs %
60.57%
Holding
1,588
New
70
Increased
176
Reduced
495
Closed
161
Avg Time Held
5.5
years
Top 10 Avg Time Held
6.1
years
Top 20 Avg Time Held
4.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Thermo Fisher Scientific
TMO
|
+$128M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$67.4M |
| 3 |
XPLR Infrastructure LP
XIFR
|
+$63.8M |
| 4 |
UnitedHealth
UNH
|
+$57.4M |
| 5 |
Danaher
DHR
|
+$24.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class A
BRK.A
|
+$760M |
| 2 |
Amazon
AMZN
|
+$68.5M |
| 3 |
AbbVie
ABBV
|
+$54.2M |
| 4 |
People Inc
PPLI
|
+$36.8M |
| 5 |
PNC Financial Services
PNC
|
+$29.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.09% |
| 2 | Technology | 18.28% |
| 3 | Healthcare | 10.34% |
| 4 | Consumer Discretionary | 7.89% |
| 5 | Communication Services | 5.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class A
BRK.A
$1.26T
| $8.76B | 32.09% |
16,926
-1,526
| -8% | -$760M |
2013 Q2
40 quarters
|
|
2
Microsoft
MSFT
$3.89T
| $1.68B | 6.15% |
4,936,390
-31,221
| -0.6% | -$9.8M |
2013 Q2
40 quarters
|
|
3
Apple
AAPL
$5.18T
| $1.56B | 5.71% |
8,059,125
-117,549
| -1% | -$20.5M |
2013 Q2
40 quarters
|
|
|
4
UnitedHealth
UNH
$365B
| $824M | 3.02% |
1,723,306
+117,417
| +7% | +$57.4M |
2013 Q2
40 quarters
|
|
5
Berkshire Hathaway Class B
BRK.B
$1.26T
| $714M | 2.62% |
2,094,013
-25,384
| -1% | -$8.28M |
2013 Q2
40 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$3.6T
| $674M | 2.47% |
5,571,495
-2,878
| -0.1% | -$333K |
2013 Q2
40 quarters
|
|
7
AutoZone
AZO
$52.5B
| $625M | 2.29% |
250,786
+2,451
| +1% | +$6.25M |
2013 Q2
40 quarters
|
|
8
Brookfield
BN
$91.5B
| $596M | 2.18% |
26,668,266
+28,183
| +0.1% | +$597K |
2013 Q2
40 quarters
|
|
9
Oracle
ORCL
$391B
| $584M | 2.14% |
4,936,478
-51,541
| -1% | -$5.33M |
2013 Q2
40 quarters
|
|
|
10
Danaher
DHR
$164B
| $522M | 1.91% |
2,454,686
+116,932
| +5% | +$24.8M |
2013 Q2
40 quarters
|
|
|
11
Thermo Fisher Scientific
TMO
$259B
| $500M | 1.83% |
961,705
+236,861
| +33% | +$128M |
2013 Q2
40 quarters
|
|
12
KKR & Co
KKR
$87.5B
| $484M | 1.77% |
8,729,853
+322,299
| +4% | +$16.9M |
2019 Q1
17 quarters
|
|
13
Honeywell
HON
$70.6B
| $298M | 1.09% |
1,534,868
+33,218
| +2% | +$6.17M |
2013 Q2
40 quarters
|
|
14
Lowe's Companies
LOW
$128B
| $280M | 1.03% |
1,248,583
+25,090
| +2% | +$5.22M |
2013 Q2
40 quarters
|
|
15
Visa
V
$794B
| $277M | 1.01% |
1,165,375
+76,099
| +7% | +$17.4M |
2013 Q2
40 quarters
|
|
16
S&P Global
SPGI
$137B
| $275M | 1.01% |
689,764
-1,497
| -0.2% | -$547K |
2016 Q2
28 quarters
|
|
17
Linde
LIN
$242B
| $243M | 0.89% |
646,735
-615
| -0.1% | -$225K |
2018 Q4
18 quarters
|
|
18
Accenture
ACN
$148B
| $238M | 0.87% |
769,850
+10,875
| +1% | +$3.16M |
2013 Q2
40 quarters
|
|
19
O'Reilly Automotive
ORLY
$73.9B
| $212M | 0.78% |
3,389,820
-29,430
| -0.9% | -$1.8M |
2013 Q2
40 quarters
|
|
20
Alphabet (Google) Class A
GOOGL
$3.64T
| $206M | 0.75% |
1,723,610
-4,122
| -0.2% | -$474K |
2015 Q4
30 quarters
|
|
21
Johnson & Johnson
JNJ
$688B
| $203M | 0.74% |
1,228,559
-156,895
| -11% | -$25.3M |
2013 Q2
40 quarters
|
|
22
Comcast
CMCSA
$89.3B
| $194M | 0.71% |
4,674,286
-77,417
| -2% | -$3.07M |
2013 Q2
40 quarters
|
|
|
23
Amazon
AMZN
$2.88T
| $191M | 0.7% |
1,464,824
-599,654
| -29% | -$68.5M |
2013 Q2
40 quarters
|
|
24
Texas Pacific Land
TPL
$20.1B
| $188M | 0.69% |
1,287,252
-9,225
| -0.7% | -$1.48M |
2013 Q2
40 quarters
|
|
25
Intercontinental Exchange
ICE
$100B
| $188M | 0.69% |
1,658,495
-36,814
| -2% | -$3.99M |
2014 Q1
37 quarters
|
|
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VARA
First Manhattan's Q2 2023 Portfolio in Review
As of Q2 2023, First Manhattan held 1,588 positions worth $27.3B, up 4.7% from $26.1B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
First Manhattan withdrew a net $932M in Q2 2023, closing 161 positions and reducing 495 holdings. Its most notable exit was Enanta Pharmaceuticals, an estimated $10.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 44% of assets, down from 45% a quarter earlier, followed by Technology and Healthcare.
Against the trend, First Manhattan opened a new position in Mersana Therapeutics worth $1.87M.
- First Manhattan's largest Q2 2023 buy was Mersana Therapeutics: 22,784 shares worth $1.87M.
- First Manhattan added most to Thermo Fisher Scientific in Q2 2023, an estimated $128M increase.
- First Manhattan's biggest Q2 2023 reduction was Berkshire Hathaway Class A, cutting an estimated $760M.
- First Manhattan fully exited Enanta Pharmaceuticals in Q2 2023, selling an estimated $10.7M.
- First Manhattan's ten largest holdings make up 61% of its $27.3B portfolio in Q2 2023.
- First Manhattan opened 70 new positions and closed 161 in Q2 2023.
- First Manhattan's portfolio value rose 4.7% quarter-over-quarter to $27.3B.
Based on First Manhattan's 13F filing for Q2 2023, filed 14 Aug 2023.