Adam H. Schwartz
Adam Schwartz is a Senior Managing Director of First Manhattan. He joined the firm in 2001 to work with Bob Gottesman, First Manhattan’s Executive Chairman. Together, Adam and Bob manage assets for individuals, families, partnerships, and family and charitable trusts.
Adam is committed to understanding each client’s investment needs and goals and working collaboratively to meet them.
Portfolio Construction and Management
Adam is a value-oriented, long-term investor who is focused on preserving, sustaining, and growing his clients’ capital. Adam tends to invest in companies that are led by seasoned management teams that have a proven track record of generating attractive returns. He is also drawn to companies that are undervalued but operate in an industry with a high barrier to entry. Before making an investment, Adam thoroughly and meticulously evaluates each company’s fundamental business, looking primarily, though not exclusively, at its cash flow, rates of return, profit margins, competition, and above all, potential for growth. Not unlike many of his colleagues, Adam is also personally invested in the same companies he purchases for his clients.
Adam works collaboratively with fellow Portfolio Managers and the firm’s in-house research team. A core part of Adam’s research process also involves conducting management interviews with company leadership and industry experts.
In addition to his work as a Portfolio Manager, Adam played a lead role in establishing the FM First Hong Kong Funds—First Manhattan’s China-focused investment vehicles. He travels to China regularly and works closely with his China-based Fund partners on company research, portfolio management, and due diligence.
When making investment decisions, Adam:
- Looks for high-quality franchises with superior management teams that have generated proven returns
- Prefers businesses with enduring competitive advantages—specifically, those with a high barrier to entry and those with strong and sustainable cash flows
- Prioritizes meeting with multiple levels of a company’s management team before deciding whether to make an investment