A method for manufacturing a magnetic read sensor and a magnetic read sensor are provided. In one embodiment of the invention, the method includes providing a seed layer disposed over a substrate of the magnetic read sensor, providing a free layer disposed over a seed layer and providing a spacer layer disposed over the free layer. The method further includes providing a pinned layer disposed over the spacer layer. In one embodiment, the pinned layer includes cobalt and iron, wherein the concentration of iron in the pinned layer is between 33 and 37 atomic percent (at. %). The method further includes providing a pinning layer disposed over the pinned layer, wherein the pinning layer is in contact with the pinned layer.