Grisanti Brown & Partners’ Top Bets Show ‘Bullishness’ on Finance Sector

#2 Morgan Stanley (NYSE:MS)

– Shares Owned by Grisanti Brown & Partners (as of March 31): 566,400

– Value of Holding (as of March 31): $14.17 Million

Moving onto another financial company that the fund was upbeat about, as it pushed up its Morgan Stanley holding by 50% during the first quarter. Athough Morgan Stanley (NYSE:MS)’s stock price is down by more than 17% on a year-to-date basis, it rose by more than 11% in the last month. Morgan Stanley (NYSE:MS) posted first quarter earnings of $0.55 per share on revenue of $7.79 billion, beating EPS estimates by $0.10, but missing revenue expectations by $80 million. Global uncertainties weighed on investor activity during the quarter adversely affecting revenues from Fixed Income & Commodities sales and trading and underwriting. This was offset by strength in the equity sales and trading and M&A advisory. Pzena Investment Management, led by Richard S. Pzena, upped its Morgan Stanley (NYSE:MS) position by 34% in the first quarter to 12.65 million shares.

#1 Time Warner Inc (NYSE:TWX)

– Shares Owned by Grisanti Brown & Partners (as of March 31): 195,500

– Value of Holding (as of March 31): $14.18 Million

Lastly, a small hike of 1% was registered in Grisanti Brown & Partners’ Time Warner holding. The stock price of the $58 billion media and entertainment company is up by nearly 15% this year. Time Warner Inc (NYSE:TWX)’s first quarter revenues of $7.3 billion were in-line with the expectations while earnings of $1.49 per share were $0.19 ahead of forecasts. Revenues from HBO saw a 7% surge during the trimester while Turner Broadcasting also showed significant strength on the heels of airing of the annual NCAA Men’s Basketball Tournament, for which it has secured the broadcast rights through 2032. Winton Capital Management, however, had another trajectory for Time Warner Inc (NYSE:TWX) in mind as it slashed its holding by 53% to about 260,000 shares during the March quarter.

Disclosure: None