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First Manhattan

SEC-registered adviser since 1977New York, NYCRD 325281

$38.1B
AUM
6,294
Clients
See fees
Fee
51
Advisory staff

From Form ADV filed 13 August 2026 · data retrieved 15 October 2026SEC record

First Manhattan is an investment adviser headquartered in New York, New York, and registered with the SEC since 1977. Its clients include high-net-worth individuals, charitable organizations, and pension and profit-sharing plans. High-net-worth individuals account for 87% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, and pension consulting. Fee arrangements include a percentage of assets under management and performance-based fees. FMC Group Holdings LP owns 75% or more of First Manhattan, and Zachary Wydra is its CEO.

Clients

First Manhattan serves 6,294 clients, 3,828 of them high-net-worth individuals. The average client has about $6.1 million with the firm, and high-net-worth clients hold 87% of its $38.1 billion in assets.

Regulatory assets by client type
  • High-net-worth individuals3,828 clients87%
  • Pooled investment vehicles9 clients2%
  • Pension and profit-sharing plans95 clients4%
  • Charitable organizations108 clients4%
  • OtherIndividuals, Investment companies2%
Show client breakdown
Individuals (other than HNW)
Clients
2,252
Regulatory AUM
$629,993,864
Share
1.7%
Avg. per client
$280K
High-net-worth individuals
Clients
3,828
Regulatory AUM
$33,283,079,512
Share
87.4%
Avg. per client
$8.69M
Investment companies
Clients
2
Regulatory AUM
$172,805,171
Share
0.5%
Avg. per client
$86.4M
Pooled investment vehicles
Clients
9
Regulatory AUM
$919,226,349
Share
2.4%
Avg. per client
$102.1M
Pension and profit-sharing plans
Clients
95
Regulatory AUM
$1,510,159,023
Share
4.0%
Avg. per client
$15.9M
Charitable organizations
Clients
108
Regulatory AUM
$1,570,837,622
Share
4.1%
Avg. per client
$14.5M

Total

Clients
6,294
Regulatory AUM
$38,086,101,541
Share
100%
Avg. per client
$6.05M

What it does

First Manhattan provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and pension consulting. It is paid through a percentage of assets and performance-based fees.

First Manhattan provided financial planning to 251–500 clients last fiscal year and advises 9 private funds.

93.6% of assets ($35.66B across 6,104 accounts) are managed with discretion; $2.42B across 190 accounts are not. $36.99B sits in a wrap fee program the firm both sponsors and manages. 4% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

The filed percentages total 101%. The values below are shown as filed.

Exchange-traded equity securities
84%
U.S. government/agency bonds
4%
U.S. state and local bonds
3%
Investment grade corporate bonds
2%
Securities issued by registered investment companies or business development companies
4%
Cash and cash equivalents
4%

Custodians

First Manhattan’s client accounts are held mainly at Pershing, with 87% of managed assets. First Manhattan has custody of $45.66B for 6,077 clients.

Managed account assets by custodian
  • PershingPershing LLC · Jersey City, NJ · $33.27B87%
  • All other custodians$4.81B13%

Ownership and leadership

FMC Group Holdings LP owns 75% or more of First Manhattan, and Zachary Wydra is its CEO.

Who owns the firm
First Manhattan Co. LLC· the adviser

  • FMC Group Holdings LP

    Control person · since January 2023

    Owns 75% or more of First Manhattan Co. LLC

  • Zachary Wydra

    Control person · since January 2023

    Owns 5% to 10% of First Manhattan Co. LLC

Leadership

  • Zachary Wydra
    Chief Executive Officer
  • Jeremy Covino
    Chief Compliance Officer
  • Andrew Aspen
    Chief Legal Officer
  • Alvaro Pinto
    FINOP/Prinicipal Operations Officer
  • Joseph Sammarco
    Head of Operations; Head of Business Supervision

Staff

  • 147 employees
  • 51 in advisory functions
  • 56 state-registered reps
  • 94 broker-dealer reps

Reported holdings

First Manhattan’s reported 13F holdings total $39.24B across 742 positions, and the ten largest make up 52.6% of it.

$39.24B
Reported 13F value
742
Positions
52.6%
In the 10 largest
+8.8%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Berkshire Hathaway Inc. Del · CL A26.3%
  2. Microsoft Corp.4.1%
  3. ASML Hldg NV · N Y Registry Shs3.6%
  4. Apple Inc.3.6%
  5. Alphabet Inc. · Cap Stk CL C3.5%
  6. Brookfield Corp. · CL A Ltd VT SH2.5%
  7. Applied Matls Inc.2.3%
  8. Berkshire Hathaway Inc. Del · CL B New2.3%
  9. KKR & CO Inc.2.2%
  10. Autozone Inc.2.1%

Together, the ten largest are 52.6% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $39.24B is not its $38.09B in regulatory assets and does not represent any individual client's portfolio.

Fees

First Manhattan is paid through a percentage of assets under management and performance-based fees.

First Manhattan’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, First Manhattan has 4 offices, with 5 listed addresses across 5 states.

Listed office addresses by state

New York · 1 listed address

  • 399 Park Avenue, New YorkHQ

Registration details

Legal name
First Manhattan Co. LLC
Headquarters
399 Park Avenue, New York, NY 10022
Phone
212-756-3300
Website
www.firstmanhattan.com
SEC file
801-12411
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does First Manhattan have?

First Manhattan has 6,294 clients and manages $38.1 billion for them, as of August 2026. They include 3,828 high-net-worth individuals, 2,252 other individuals and 108 charitable organizations.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 August 2026

What services does First Manhattan offer?

First Manhattan provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and pension consulting.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does First Manhattan use?

First Manhattan’s separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $33,272,707,388. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 August 2026

How many financial advisors does First Manhattan have?

First Manhattan has 56 investment adviser representatives registered with state securities authorities, out of 147 employees, and 51 perform investment advisory functions. 94 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does First Manhattan invest in?

At the end of its last fiscal year, First Manhattan’s separately managed accounts held 84% exchange-traded equities, 4% U.S. government and agency bonds, 4% registered funds (mutual funds, ETFs, BDCs), 4% cash and equivalents, 3% state and local bonds and 2% investment grade corporate bonds. It advises 9 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns First Manhattan?

First Manhattan is owned through a holding company by Robert Gottesman. Its direct owners are Zachary Wydra (5% to 10%) and FMC Group Holdings LP (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 13 August 2026

How does First Manhattan get paid?

First Manhattan is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 13 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 325281.
  3. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with First Manhattan Co. LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.