FIRST MANHATTAN CO Profile
First Manhattan Co. is a private investment management company that was founded in 1964 by David Gottesman and a group of financial industry executives. The company is headquartered out of New York and as an additional office in Palm Beaches Garden. The company conducts its research in house and utilizes a fundamental analysis with a bottom up stock picking approach to make its investment decisions. First Manhattan invests in the public equity and fixed income markets within the United States with an emphasis in health care and banking companies. It offers a variety of services including management for client focused equity, fixed income portfolios, and mutual funds. The company primarily provides for high net worth individuals, which alone makes up almost two thirds of its entire client base, and also caters to charities, investment companies, pooled investment vehicles, corporations, individuals, and pension and profit sharing plans, among others, in order of decreasing clientele. First Manhattan Co. currently has 129 employees with 78 of them being financial professionals registered in the U.S. Approximately one third of the company is owned by Robert Gottesman, the founder’s son who acts as the current CEO, who holds the largest individual ownership in the company, with other ownerships including David Gottesman, the original founder, First Manhattan LLC, Bernard Charles Groveman, Charles Michael Rosenthal, among other lesser ownerships split amongst executives, in order of decreasing ownership. First Manhattan Co. currently has approximately $21.5 billion in total assets under management held in over 6,700 accounts with almost all of these accounts being discretionary accounts. While its total number of accounts has not increased greatly from just under 6,000 five years ago, the company’s total assets under management has almost doubled the $11.6 billion amount in 2010. First Manhattan Co. currently offers two mutual funds: the FMC Select Fund and FMC Strategic Value Fund.