First Manhattan (FM) is a

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-hi ...

firm founded in 1964 by a group of

financial industry Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

executives led by David "Sandy" Gottesman. FM remains independently owned and operated, with operating subsidiaries that include an SEC‑registered investment adviser and a broker‑dealer registered with FINRA. , FM is led by Zac Wydra, CEO and portfolio manager, and Alvaro Spinola, CFO/ COO. FM is based in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

History

Sandy Gottesman founded First Manhattan in 1964. He died on September 28, 2022, at the age of 96. Robert Gottesman, Sandy Gottesman's son, joined First Manhattan in 1987. MRJ Capital, a US$168 million AUM registered investment adviser founded by Matt Greenberg, joined First Manhattan in March 2022. In April 2025, Grand‑Jean Capital Management, a registered investment adviser with more than US$500 million in assets under management, joined First Manhattan. Steven Grand‑Jean founded Grand‑Jean Capital Management in 1990 after a 20‑year career in investment banking. The firm has launched two

exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or comm ...

s (ETFs) under its First Manhattan Excelsior ETFs banner, with First Manhattan Partner and Head of Research Himayani Puri as the portfolio manager. FM Focus Equity ETF (ticker: FMCX) was launched in April 2022, and FM Compounders Equity ETF (ticker: FMCE) was launched in November 2024.

Description

First Manhattan provides investment advisory and wealth planning services to high‑net‑worth individuals, as well as to partnerships, trusts, retirement accounts, and institutional clients. The firm manages investments on a fully discretionary basis for accounts ranging from under US$1 million to over US$100 million. The firm currently manages in excess of US$34 billion, utilizing a research‑driven, long‑term, value‑oriented investment approach. The firm's clients are significant owners of

Berkshire Hathaway Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of c ...

stock, and the firm has established a reputation for utilizing investing strategies similar to that espoused by

Warren Buffett Warren Edward Buffett ( ; born August 30, 1930) is an American investor and philanthropist who currently serves as the chairman and CEO of the conglomerate holding company Berkshire Hathaway. As a result of his investment success, Buffett is ...

. The firm's founder, Sandy Gottesman, was an early investor in Berkshire Hathaway and maintained a long‑standing friendship with Buffett. During the

2025 Annual Meeting, Buffett paid tribute to Gottesman, saying: “The Berkshire experience is pretty dramatic. To operate with Sandy Gottesman from 1963 until he died a couple years ago … you really can’t miss. You’ll learn all the time but you’ll learn not only how to be successful in business, you’ll learn how to be successful in life.” First Manhattan’s investment approach is to establish long‑term positions in portfolio companies, most often relying on fundamental analysis and targeting value in the public equity and fixed‑income markets of the United States. FM is based in

People

Robert Gottesman was the firm's executive chairman and a portfolio manager. the firm's Management Team, led by CEO Zac Wydra and CFO/COO Alvaro Spinola, is responsible for the management and day‑to‑day operations of the firm.

References

External links

* {{authority control, state=expanded Financial services companies established in 1964 Financial services companies based in New York City Investment management companies of the United States American companies established in 1964 1964 establishments in New York (state) Gottesman family