Manning & Napier is an investment management company operating managed accounts, mutual funds and collective investment trust funds. As of Nov. 30, 2013, the firm has $50.4 billion in assets under management. Manning & Napier has a team approach to investing, is price conscious about stock selection, and focuses on positive absolute returns by avoiding over-valued areas.
Of the company’s 333 long portfolio positions, 25 were new selections in the fourth quarter, according to data out today. The portfolio is fair valued at $22.13 billion.
Below are Manning & Napier’s top new fourth-quarter buys.
5) HCA Holdings Inc. (NYSE:HCA)
Manning & Napier purchased 40,712 shares of HCA Holdings Inc. in the fourth quarter. The new holding reflects 0.18% of the portfolio.
HCA Holding Inc. is the nation’s largest healthcare services provider. HCA Holdings Inc. has a market cap of $22.11 billion; its shares were traded at around $49.38 with a P/E ratio of 16 and P/S ratio of 0.7. HCA Holdings Inc. had an annual average earnings growth of 7.7% over the past 10 years.
4) Qihoo 360 Technology Co. Ltd. (NYSE:QIHU)
The firm purchased 1,088,560 shares of Qihoo 360 in the fourth quarter when the price averaged $84. The holding represents 0.4% of the portfolio.
Qihoo 360 Technology Co. Ltd. provides high-quality internet and mobile security products in China. Qihoo 360 Technology Co. Ltd. has a market cap of $11.29 billion; its shares were traded at around $91.97 with a P/E ratio of 122.80 and P/S ratio of 21.20.
3) DaVita HealthCare Partners Inc. (NYSE:DVA)
The firm bought 1,518,586 shares of DaVita HealthCare Partners in the fourth quarter when the price averaged $59. The holding represents 0.43% of the portfolio.
DaVita HealthCare Partners Inc. was incorporated as a Delaware corporation in 1994. DaVita HealthCare Partners Inc has a market cap of $13.6 billion; its shares were traded at around $63.96 with a P/E ratio of 23.70 and P/S ratio of 1.20. DaVita HealthCare Partners Inc. had an annual average earnings growth of 18.10% over the past 10 years. GuruFocus rated DaVita Healthcare Partners Inc. the business predictability rank of 3.5-star.
2) Realogy Holdings Corp. (NYSE:RLGY)
Manning & Napier bought 3,953,840 shares of Realogy Holdings Corp. in the fourth quarter whe the price averaged $45. The holding represents 0.88% of the portfolio.
Realogy Holdings Corp. is a global real estate brokerage franchising company that also engages in relocation and title services. Realogy Holdings Corp. has a market cap of $6.72 billion; its shares were traded at around $46.00 with and P/S ratio of 1.30.
1) Ambev SA (NYSE:ABEV)
Manning & Napier’s larges new buy was of 55,415,500 shares of Ambev SA in the fourth quarter when the price averaged $7.
Companhia de Bebidas das Americas Ambev is the successor of Companhia Cervejaria Brahma ("Brahma") and Companhia Antarctica Paulista Industria Brasileira de Bebidas e Conexos ("Antarctica"), two of the oldest brewers in Brazil. Ambev Sa has a market cap of $101.81 billion; its shares were traded at around $6.50 with a P/E ratio of 31 and P/S ratio of 8. The dividend yield of Ambev Sa stocks is 0.60%. Ambev SA had an annual average earnings growth of 21.50% over the past 10 years. GuruFocus rated Ambev SA the business predictability rank of 4-star.