Vista Outdoor Inc (VSTO), Curis, Inc. (CRIS): First Eagle Investment Management’s Latest Bullish Plays

During the fourth quarter of 2014 First Eagle initiated stakes in 38 companies, but two positions stand out in terms of value. The fund reported a new $370.28 million stake in Anthem Inc (NYSE:ANTM), which contains 2.95 million shares. Anthem Inc (NYSE:ANTM) is a large-cap health benefits company, whose stock gained 60% in the last year as the company reported annual growth in both revenue and profit. Larry Robbins‘ Glenview Capital is another shareholder of Anthem Inc (NYSE:ANTM), owning 3.59 million shares as of the end of 2014.

During the October-December period, First Eagle also purchased 1.03 million shares of PPG Industries, Inc. (NYSE:PPG), with an aggregate value of $237.70 million. PPG Industries, Inc. (NYSE:PPG) is a $31 billion manufacturer and distributor of coatings, specialty materials and glass products. The stock of the specialty chemicals company gained almost 16% in the last year, beating the industry average by around 2.0 percentage points. As the stock gained ground, the number of investors holding shares of PPG Industries, Inc. (NYSE:PPG) went up to 39 from 35, and the amount of capital held by the funds that we track surged to $2.39 billion, from $1.62 billion. Ken Griffin‘s Citadel Investment Group raised its stake by 520% during the fourth quarter to 1.43 million shares.

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