First Manhattan Co. LLC.
Reported US equity positions for Q1 2026 — $36.1B across 753 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| BRK.A Berkshire Hathaway Inc. | $10.0B | 27.8% | 13,969 |
| MSFT Microsoft Corporation | $1.6B | 4.5% | 4,371,164 |
| AAPL Apple Inc. | $1.3B | 3.5% | 5,016,495 |
| GOOG Alphabet Inc. - Class C Capital Stock | $1.2B | 3.2% | 4,051,938 |
| N07059210 Asml Hldg Nv | $996.4M | 2.8% | 754,352 |
| BN Brookfield Corporation Class A Limited Voting Shares | $940.0M | 2.6% | 23,265,685 |
| AZO AutoZone, Inc. | $884.4M | 2.5% | 261,815 |
| KKR KKR & Co. Inc. | $869.0M | 2.4% | 9,394,167 |
| BRK.B Berkshire Hathaway Inc. | $864.3M | 2.4% | 1,803,600 |
| AMZN Amazon.com, Inc. | $677.9M | 1.9% | 3,255,105 |
| AVGO Broadcom Inc. | $675.7M | 1.9% | 2,183,157 |
| ORCL Oracle Corporation | $579.6M | 1.6% | 3,940,029 |
| AMAT Applied Materials, Inc. | $514.5M | 1.4% | 1,505,425 |
| TPL Texas Pacific Land Corporation | $504.3M | 1.4% | 1,062,769 |
| CRM Salesforce, Inc. | $493.8M | 1.4% | 2,645,328 |
| LB Landbridge Company LLC | $487.3M | 1.4% | 7,057,228 |
| V Visa Inc. | $468.1M | 1.3% | 1,548,816 |
| HONGBP Honeywell Intl INC | $447.7M | 1.2% | 1,980,789 |
| SPGI S&P Global Inc. | $445.2M | 1.2% | 1,046,651 |
| DHR Danaher Corporation | $444.2M | 1.2% | 2,338,542 |
| NVDA NVIDIA Corporation | $443.5M | 1.2% | 2,542,978 |
| GOOGL Alphabet Inc. | $436.1M | 1.2% | 1,516,693 |
| TMO Thermo Fisher Scientific Inc | $377.4M | 1.0% | 767,160 |
| G54950103 Linde PLC | $353.3M | 1.0% | 712,599 |
| SNPS Synopsys, Inc. | $336.4M | 0.9% | 848,592 |
| LOW Lowe's Companies, Inc. | $330.7M | 0.9% | 1,399,429 |
| BSX Boston Scientific Corporation | $308.2M | 0.9% | 4,911,217 |
| PM Philip Morris International Inc | $295.7M | 0.8% | 1,775,569 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $278.1M | 0.8% | 1,027,677 |
| VOO Vanguard S&P 500 ETF | $252.6M | 0.7% | 422,673 |
| INTC Intel Corporation | $251.1M | 0.7% | 5,691,060 |
| GEV GE Vernova Inc. | $238.7M | 0.7% | 273,360 |
| H2927K103 Amrize LTD | $220.6M | 0.6% | 3,937,879 |
| KNSL Kinsale Capital Group, Inc. | $210.5M | 0.6% | 616,031 |
| ORLY O'Reilly Automotive, Inc. | $209.4M | 0.6% | 2,268,003 |
| TTWO Take-Two Interactive Software, Inc. | $199.7M | 0.6% | 1,011,265 |
| ALLY Ally Financial Inc. | $179.8M | 0.5% | 4,584,076 |
| MAR Marriott International | $175.8M | 0.5% | 537,617 |
| JNJ Johnson & Johnson | $173.5M | 0.5% | 709,890 |
| BKNG Booking Holdings Inc. | $173.3M | 0.5% | 41,171 |
| MCD McDonald's Corporation | $167.9M | 0.5% | 540,296 |
| ICE Intercontinental Exchange Inc. | $160.4M | 0.4% | 1,019,703 |
| UNP Union Pacific Corporation | $159.0M | 0.4% | 655,256 |
| CSL Carlisle Companies Incorporated | $148.2M | 0.4% | 444,266 |
| AXP American Express Company | $139.0M | 0.4% | 459,690 |
| VRT Vertiv Holdings, LLC Class A | $138.3M | 0.4% | 552,093 |
| ABBV AbbVie Inc. | $131.5M | 0.4% | 604,832 |
| BALL Ball Corporation | $119.5M | 0.3% | 2,020,895 |
| MTCH Match Group, Inc. | $113.2M | 0.3% | 3,686,291 |
| META Meta Platforms, Inc. | $108.4M | 0.3% | 189,550 |
| BL BlackLine, Inc. | $99.0M | 0.3% | 2,676,987 |
| COF Capital One Financial Corporation | $98.0M | 0.3% | 537,365 |
| CPRT Copart, Inc. | $97.8M | 0.3% | 2,946,130 |
| FMCX Northern Lts Fd Tr IV | $96.8M | 0.3% | 3,016,551 |
| SCI Service Corporation International | $96.0M | 0.3% | 1,162,964 |
| G1151C101 Accenture PLC Ireland | $95.4M | 0.3% | 481,189 |
| AIZ Assurant, Inc. | $89.0M | 0.2% | 408,589 |
| JPM JP Morgan Chase & Co. | $86.3M | 0.2% | 293,272 |
| RSP Invesco S&P 500 Equal Weight ETF | $78.2M | 0.2% | 407,463 |
| ABG Asbury Automotive Group Inc | $76.3M | 0.2% | 242,803 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| AAPL Apple Inc. | Trim | $1.3B | $1.4B | -3% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $1.2B | $1.3B | -3% |
| N07059210 Asml Hldg Nv | Trim | $996.4M | $847.6M | -5% |
| BN Brookfield Corporation Class A Limited Voting Shares | Trim | $940.0M | $1.1B | -2% |
| KKR KKR & Co. Inc. | Add | $869.0M | $1.1B | +9% |
| BRK.B Berkshire Hathaway Inc. | Trim | $864.3M | $932.2M | -3% |
| AMZN Amazon.com, Inc. | Add | $677.9M | $492.4M | +53% |
| AVGO Broadcom Inc. | Trim | $675.7M | $765.3M | -1% |
| ORCL Oracle Corporation | Trim | $579.6M | $776.2M | -1% |
| AMAT Applied Materials, Inc. | Trim | $514.5M | $484.5M | -20% |
| TPL Texas Pacific Land Corporation | Add | $504.3M | $291.1M | +5% |
| LB Landbridge Company LLC | Add | $487.3M | $338.7M | +3% |
| V Visa Inc. | Add | $468.1M | $455.7M | +19% |
| HONGBP Honeywell Intl INC | Add | $447.7M | $372.6M | +4% |
| SPGI S&P Global Inc. | Add | $445.2M | $331.8M | +65% |
| DHR Danaher Corporation | Add | $444.2M | $529.4M | +1% |
| NVDA NVIDIA Corporation | Add | $443.5M | $379.1M | +25% |
| GOOGL Alphabet Inc. | Trim | $436.1M | $501.6M | -5% |
| G54950103 Linde PLC | Trim | $353.3M | $307.6M | -1% |
| SNPS Synopsys, Inc. | Add | $336.4M | $368.5M | +8% |
| LOW Lowe's Companies, Inc. | Trim | $330.7M | $361.3M | -7% |
| BSX Boston Scientific Corporation | Add | $308.2M | $179.4M | +161% |
| PM Philip Morris International Inc | Trim | $295.7M | $293.3M | -2% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Trim | $278.1M | $446.8M | -24% |
| INTC Intel Corporation | Add | $251.1M | $108.6M | +93% |
| GEV GE Vernova Inc. | Trim | $238.7M | $180.5M | -1% |
| H2927K103 Amrize LTD | Trim | $220.6M | $218.3M | -2% |
| TTWO Take-Two Interactive Software, Inc. | Trim | $199.7M | $431.4M | -40% |
| ALLY Ally Financial Inc. | Trim | $179.8M | $212.5M | -2% |
| JNJ Johnson & Johnson | Add | $173.5M | $142.1M | +3% |
| MCD McDonald's Corporation | Trim | $167.9M | $172.6M | -4% |
| ICE Intercontinental Exchange Inc. | Trim | $160.4M | $182.1M | -9% |
| UNP Union Pacific Corporation | Trim | $159.0M | $166.3M | -9% |
| CSL Carlisle Companies Incorporated | Add | $148.2M | $140.3M | +1% |
| AXP American Express Company | Trim | $139.0M | $177.5M | -4% |
| VRT Vertiv Holdings, LLC Class A | Trim | $138.3M | $109.9M | -19% |
| MTCH Match Group, Inc. | Add | $113.2M | $114.9M | +4% |
| META Meta Platforms, Inc. | Trim | $108.4M | $128.0M | -2% |
| BL BlackLine, Inc. | Add | $99.0M | $134.3M | +10% |
| COF Capital One Financial Corporation | Add | $98.0M | $127.8M | +2% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.