Manning & Napier Advisors Inc. was founded in April 1970 by Bill Manning and Bill Napier. It manages a portfolio composed of 325 stocks, several of which have been bought for the last two quarters.
ICICI Bank Ltd. (IBN)
During the fourth quarter of 2015, the fund raised its stake by 39.92% and in the first quarter increased its holdings by 4.04%. The fund currently holds 0.02% of the outstanding shares in the company, a banking company engaged in providing banking and financial services including retail banking, corporate banking and treasury operations.
The company reported 4.5% increase in stand-alone profit after tax from the same quarter of a year before. Net interest income increased by 13.3% year on year and net interest margin improved from 3.46% in the third quarter of 2015 to 3.53% in the third quarter of 2016.
The largest shareholder among the gurus is Ken Fisher (Trades, Portfolio) with 0.43% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 0.21%, Sarah Ketterer (Trades, Portfolio) with 0.21%, Howard Marks (Trades, Portfolio) with 0.14%, Jeremy Grantham (Trades, Portfolio) with 0.13%, Prem Watsa (Trades, Portfolio) with 0.05%, George Soros (Trades, Portfolio) with 0.05%, Louis Moore Bacon (Trades, Portfolio) with 0.04% and Chris Davis (Trades, Portfolio) with 0.02%.
Royal Dutch Shell PLC. (RDS.B)
During fourth quarter 2015, the fund increased its stake by 10.38% and increased it by 1.70% in the first quarter. The company explores for and extracts crude oil, natural gas and natural gas liquids. It also liquefies and transports gas.
During the last quarter it completed the acquisition of BG Group PLCĂ‚ (BG) and basic CCS earnings per share excluding identified items decreased by 63% versus the first quarter of 2015.
Ketterer is the company's largest shareholder among the gurus with 0.01% of outstanding shares.
CVS Health Corp. (CVS)
During the fourth quarter of 2015, the fund increased its stake by 0.47% and then increased its stake 0.92% in the first quarter. The fund currently holds 0.01% of the outstanding shares in the company, an integrated pharmacy health care provider that has three segments: Pharmacy Services, Retail Pharmacy and Corporate.
During the last quarter net revenues increased 18.9% and operating profit increased 2.0% from the first quarter of a year before.
The largest shareholder among the gurus is Pioneer Investments (Trades, Portfolio) with 0.5% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.33%, Grantham with 0.22%, Mario Gabelli (Trades, Portfolio) with 0.11%, RS Investment Management (Trades, Portfolio) with 0.07%, NWQ Managers (Trades, Portfolio) with 0.07% and Charles de Vaulx (Trades, Portfolio) with 0.07%.
Agree Realty Corp. (ADC)
During the fourth quarter of 2015, the fund increased its stake by 17.91% and raised its stake 9.63% in the first quarter. The fund currently holds 1.31% of outstanding shares in the company, a fully integrated, self-administered and self-managed REIT. It is focused on the ownership, development, acquisition and management of retail properties net leased to national tenants.
First quarter adjusted funds from operations ("AFFO") per share increased 7.9% and rental revenue increased 28.2%.
Mairs and Power (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.77% of outstanding shares followed by Simons with 0.48% and Paul Tudor Jones (Trades, Portfolio) with 0.03%.
AstraZeneca PLCĂ‚ (AZN)
During the fourth quarter of 2015, the fund raised its stake by 0.90% and raised it again by 6.07% in the first quarter. The fund currently holds 0.02% of outstanding shares of the stock, a biopharmaceutical company. It is engaged in the discovery and development of new products, which are then manufactured, marketed and sold.
During the first quarter, driven by a significant increase in Externalization Revenue, total revenue grew by 5% and operating profit grew by 17% from the same quarter of a year before.
The largest shareholder among the gurus is Dodge & Cox with 1.03% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.52%, Simons with 0.22%, Grantham with 0.22%, Manning & Napier Advisors with 0.02% and NWQ Managers (Trades, Portfolio) with 0.02%.
JPMorgan Chase & Co. (JPM)
During fourth quarter of 2015, the fund increased its stake by 3.91% and raised it by 2.28% in the first quarter. The fund currently holds 0.01% of outstanding shares in the company, a financial services firm and a banking institution. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management.
Net income grew 12% from the same quarter of a year before, and revenue had a 4% increase, driven by net interest income on loan and deposit growth and auto lease revenue, partially offset by the impact of Card co-brand renegotiations.
Barrow, Hanley, Mewhinney & Strauss is the company's largest shareholder among the gurus, with 0.85% of outstanding shares followed by Dodge & Cox with 0.72%, PRIMECAP Management (Trades, Portfolio) with 0.56%, Davis with 0.48% and Fisher with 0.38%.
Prologis Inc. (PLD)
During the fourth quarter of 2015, the fund raised its stake by 14.88% and boosted the stake by 42.23% in the first quarter. The fund currently holds 0.07% of outstanding shares in the owner, operator and developer of industrial real estate, focused on hub and gateway distribution markets in the Americas, Europe and Asia.
The largest shareholder among the gurus is Simons with 0.26% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.04% and Fisher with 0.04%.
Wells Fargo & Co. (WFC)
During the fourth quarter of 2015, the fund increased its stake by 1.02% and increased the stake by 1.63% in the first quarter. The fund currently holds 0.01% of outstanding shares in the diversified financial services company. It provides retail, corporate and commercial banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions.
During the first quarter net income was $5.5 billion, compared with $5.8 billion in first quarter 2015 and diluted earnings per share (EPS) was 99 cents, compared with $1.04.
Warren Buffett (Trades, Portfolio) is the company's largest shareholder among the gurus with 9.45% of outstanding shares followed by Dodge & Cox with 1.34%, Barrow, Hanley, Mewhinney & Strauss with 0.76%, Davis with 0.47%, Fisher with 0.38% and PRIMECAP Management (Trades, Portfolio) with 0.36%.
Kansas City Southern. (KSU)
During the fourth quarter of 2015, the fund raised its stake by 11.40% and hiked the stake by 32.88% in the first quarter. The fund currently holds 0.22% of outstanding shares in the operator of domestic and international rail operations in North America focused on the growing north/south freight corridor connecting key commercial and industrial markets in the central U.S. with industrial cities in Mexico.
Revenue during the first quarter had a decrease of 7% and operating income increased 5%. Operating ratio of 66.6% compared with 70.5% in the first quarter of 2015.
The largest shareholder among the gurus is Frank Sands (Trades, Portfolio) with 2.84% of outstanding shares followed by Lee Ainslie (Trades, Portfolio) with 2.13%, Fisher with 0.64%, Andreas Halvorsen (Trades, Portfolio) with 0.27%, Steven Cohen (Trades, Portfolio) with 0.07%, Jones with 0.06% and Ray Dalio (Trades, Portfolio) with 0.03%.
Stericycle Inc. (SRCL)
During the fourth quarter of 2015, the fund increased its stake by 28.22% and boosted its stake by 0.05% in the first quarter. The fund currently holds 0.2% of outstanding shares in the company that is engaged in providing regulated and compliance solutions to health care and commercial businesses. This includes the collection and processing of specialized waste for disposal, and a variety of training, and consulting.
GAAP earnings per diluted share decreased 11.1% from the first quarter of 2015, and gross profit grew 31.2%.
David Rolfe (Trades, Portfolio) is the company's largest shareholder among the gurus with 3.18% of outstanding shares followed by Jana Partners (Trades, Portfolio) with 2.86%, Columbia Wanger (Trades, Portfolio) with 0.73%, Meridian Funds (Trades, Portfolio) with 0.58% and RS Investment Management (Trades, Portfolio) with 0.11%.
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