Chris Niemczewski

Chris Niemczewski is the Managing Principal and founder of Marshfield Associates, a Washington, DC-based investment management firm established in 1989. He leads the firm's research team and plays a central role in overseeing Marshfield’s investment strategy and portfolio management. His approach is deeply influenced by the Graham and Dodd value investing philosophy, emphasizing differentiated, patient, and empirically grounded stock selection.

At Marshfield Associates, Niemczewski’s focus is on value-oriented equity investing, managing concentrated portfolios of high-conviction holdings in large-cap U.S. equities. The firm’s 13F filings indicate a particular emphasis on sectors such as consumer discretionary (with significant holdings in AutoZone, Ross Stores, and O’Reilly Automotive), industrials (Cummins), and financial services (Visa). Niemczewski is known for his collaborative investment process, which aims to avoid consensus-driven, market-mimicking allocations.

Niemczewski holds an MBA from Columbia University and a BA from Swarthmore College. He has contributed to the field through his long-term commitment to rational, disciplined investing and by serving as Chair of Swarthmore’s Investment Committee (2009–2017), guiding the college’s endowment. He is also active in community philanthropy through his board membership at Martha’s Table in Washington, DC.