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Cintas Corporation (CTAS): First Eagle Investment Management Cuts Passive Stake

First Eagle Investment Management, managed by Jean-Marie Eveillard, has reduced its passive stake in Cintas Corporation (NASDAQ:CTAS). According to a newly-amended filing with the U.S. Securities and Exchange Commission, First Eagle holds 9.58 million shares of Cintas Corporation (NASDAQ:CTAS). The stake represents a decrease from 17.25 million shares the fund held previously. The new stake is equivalent to 8.19% of the company’s common stock.

Cintas Corporation (NASDAQ:CTAS)

First Eagle Investment Management invests with a long-term, global perspective. First Eagle has around $66 billion of assets under management. Jean-Marie Eveillard is currently serving as the senior investment adviser to First Eagle Funds. Born in France, Eveillard entered the world of finance in 1962 with an analyst job at Societe Generale. He then relocated to the U.S. in 1968 and worked for SoGen International Fund, which became First Eagle Global in 2000. Eveillard in 2009 moved to a senior advisor role for First Eagle Funds.

As of the end of the third quarter of 2014, First Eagle Investment Management holds equity portfolio valued at just over $40 billion. The fund focuses on technology, services, financials, and basic materials stocks. For the third quarter, three largest holdings of the hedge fund are represented by Microsoft Corporation (NASDAQ:MSFT), Intel Corporation (NASDAQ:INTC), and Oracle Corporation (NYSE:ORCL). First Eagle upped its stake in Microsoft Corporation (NASDAQ:MSFT) by 2% to 36.29 million shares in the quarter. The fund disclosed ownership of 40.33 million Intel Corporation (NASDAQ:INTC) shares, representing a 3% increase over the quarter. First Eagle Investment Management also boosted its position in Oracle Corporation (NYSE:ORCL) by 3% in the quarter, holding 33.94 million shares of the company.

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