FIRST MANHATTAN CO

FIRST MANHATTAN CO is an institution based in New York, NY led by Zachary A Wydra, managing $37.6B across 706 long positions as of Q3 2025 with 44% Financial Services concentration, 58% concentrated in top 10 holdings, and 29% allocation to BRK.A.

CEOZachary A Wydra

Portfolio Value: $37.6B
Positions: 706
Top Holding: BRK.A at 29.37%
Last Reported: Q3 2025

Address399 Park Avenue, New York, NY, 10022, United States

Top Holdings

Largest long holdings in FIRST MANHATTAN CO's portfolio (58.1% of total portfolio)

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Holding	Sector	Market Value	Weight	Ownership	Owned Since
1 Berkshire Hathaway BRK.A	Insurance - Diversified Financial Services	$11.1B	29.37%	1.02% 14.7K shares	Q4 2019 Held for 5y 11m
2 Microsoft MSFT	Software - Infrastructure Technology	$2.3B	6.01%	0.06% 4.4M shares	≤ Q2 2013 Held for 12y 5m+
3 Apple AAPL	Consumer Electronics Technology	$1.3B	3.56%	0.04% 5.3M shares	≤ Q2 2013 Held for 12y 5m+
4 Oracle ORCL	Software - Infrastructure Technology	$1.1B	3.05%	0.14% 4.1M shares	≤ Q2 2013 Held for 12y 5m+
5 KKR & Co. KKR	Asset Management Financial Services	$1.1B	2.94%	0.96% 8.5M shares	Q1 2019 Held for 6y 8m
6 Brookfield BN	Asset Management Financial Services	$1.1B	2.94%	1.08% 16.1M shares	Q4 2022 Held for 2y 11m
7 AutoZone AZO	Specialty Retail Consumer Cyclical	$1.1B	2.90%	1.53% 254.5K shares	≤ Q2 2013 Held for 12y 5m+
8 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.0B	2.77%	0.04% 4.3M shares	Q2 2014 Held for 11y 5m
9 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$940.3M	2.50%	0.09% 1.9M shares	Q4 2019 Held for 5y 11m
10 ASML ASML ASML	Unknown Unknown	$772.1M	2.05%	— 797.6K shares	Q4 2022 Held for 2y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in FIRST MANHATTAN CO's latest filing

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Market Value

$37.6B

Prior: $35.2B

Q/Q Change

+7.08%

+$2.5B

Net Flows % of MV

+0.795%

Turnover Ratio

3.77%

New Purchases

13 stocks

$29.6M

Added To

207 stocks

+$1.5B

Sold Out Of

30 stocks

$242.6M

Reduced Holdings

286 stocks

-$1.0B

Increased Positions

Position	Shares Δ	Change
1 WBI WaterBridge Infrastructure LLC WBI	New	0 → 800.0K +$20.2M
2 Ralliant Corporation RAL	New	0 → 52.1K +$2.3M
3 Option Care Health, Inc. OPCH	New	0 → 63.9K +$1.8M
4 CoastalSouth Bancshares COSO	New	0 → 77.6K +$1.7M
5 GCI Liberty, Inc. Series C GCI Group Common Stock GLIBK	New	0 → 19.0K +$708.8K

Decreased Positions

Position	Shares Δ	Change
1 Ansys ANSS	Sold	639.3K → 0 −$224.6M
2 Ramaco Resources METC	Sold	264.4K → 0 −$3.5M
3 Ramaco Resources, Inc. METCB	Sold	251.7K → 0 −$2.1M
4 Evolus EOLS	Sold	150.0K → 0 −$1.4M
5 SNY Sanofi SNY	Sold	22.7K → 0 −$1.1M

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Analytics

Portfolio insights and performance metrics for FIRST MANHATTAN CO

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Sector Allocation

Financial Services

44.20%

Technology

22.10%

Consumer Cyclical

8.30%

Healthcare

5.20%

Communication Services

4.80%

Industrials

3.10%

ETF

2.30%

Consumer Defensive

1.80%

Energy

1.40%

Basic Materials

1.40%

Utilities

1.10%

Real Estate

0.40%

Market Cap Distribution

Mega Cap (> $200B)

61.79%

Large Cap ($10B - $200B)

29.00%

Mid Cap ($2B - $10B)

2.33%

Small Cap ($300M - $2B)

1.26%

Micro Cap ($50M - $300M)

0.14%

Nano Cap (< $50M)

0.67%

N/A (ETF or Unknown)

4.82%

Portfolio Concentration

Top 10 Holdings %

58.09%

Top 20 Holdings %

70.78%

Top 50 Holdings %

87.7%

Top 100 Holdings %

94.49%