#4. Weyerhaeuser Co (NYSE:WY)
– Number of shares held by First Eagle as of March 31: 36.10 Million
– Value of First Eagle’s holding as of March 31: $1.12 Billion
The New York-based asset management firm has significantly increased its exposure to Weyerhaeuser Co (NYSE:WY), as it boosted the stake in the company by a whopping 20.84 million shares during the first quarter to 36.10 million. First Eagle might have decided to boost its stake in the timberlands-focused REIT following the sharp drop in its share price since early January through mid-February. Weyerhaeuser shares are up 43% from their 52-week low of $22.06 reached in February and are 5% in the green year-to-date. In early May, Weyerhaeuser inked a deal to sell its Cellulose Fiber pulp mills to International Paper for $2.2 billion in cash. The deal involves five pulp mills and two modified fiber mills that produce pulp used to make various products such as diapers and tissues. The $2.2 billion deal, which is subject to regulatory approval, is anticipated to close during the final quarter of this year. Charles Paquelet’s Skylands Capital acquired a new stake of 74,340 shares of Weyerhaeuser Co (NYSE:WY) during the March quarter.
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#3. Microsoft Corporation (NASDAQ:MSFT)
– Number of shares held by First Eagle as of March 31: 23.62 Million
– Value of First Eagle’s holding as of March 31: $1.30 Billion
First Eagle Investment Management trimmed its position in Microsoft Corporation (NASDAQ:MSFT) by a massive 6.40 million shares during the January-to-March quarter to 23.62 million shares. Microsoft, once the largest equity position in First Eagle’s equity portfolio, was the third-largest equity holding in the firm’s portfolio at the end of March with a value of $1.30 billion. The $94 billion-asset manager initiated a position in the software maker during the second quarter of 2006, which makes us believe that First Eagle is taking some profits off the table given the ten-year return (excluding dividends) of 116%. Earlier this month, the giant software company announced the acquisition of an Italian start-up, called Solair, as part of its strategy to expand the reach and credibility of its Microsoft Azure computing platform. The five-year-old company specializes in delivering Internet of Things services that connect devices in workplace settings to customers in various industries. For instance, the company’s services enabled an Italian manufacturer to remotely monitor espresso machines, which helped the user boost revenue and reduce costs. Ken Fisher’s Fisher Asset Management reported ownership of 18.22 million shares of Microsoft Corporation (NASDAQ:MSFT) through the latest round of 13Fs.
