A magnetic head including a CPP GMR read sensor that includes a reference layer, a free magnetic layer and a spacer layer that is disposed between them, where the free magnetic layer and the reference magnetic layer are each comprised of Co.sub.2MnX where X is a material selected from the group consisting of Ge, Si, Al, Ga and Sn, and where the spacer layer is comprised of a material selected from the group consisting of Ni.sub.3Sn, Ni.sub.3Sb, Ni.sub.2LiGe, Ni.sub.2LiSi, Ni.sub.2CuSn, Ni.sub.2CuSb, Cu.sub.2NiSn, Cu.sub.2NiSb, Cu.sub.2LiGe and Ag.sub.2LiSn.Further embodiments include a dual spin valve sensor where the free magnetic layers and the reference layers are each comprised of Heusler alloys.A further illustrative embodiment includes a laminated magnetic layer structure where the magnetic layers are each comprised of a ferromagnetic Heusler alloy, and where the spacer layers are comprised of a nonmagnetic Heusler alloy.