David Blood and Al Gore’s Generation Investment Management boosted its stake in Henry Schein,Inc (HSIC) to 5.11% in mid June. Generation Investment had 4,454,610 shares of HSIC in its portfolio at the end of March. The fund currently holds 4.7 Million shares of the company. The stock closed at $73.29 on Monday, July 11th.
Generation Investment Management is the largest shareholder in HSIC with a $345 Million position. There are other hedge funds in HSIC as well. Ricky Sandler’s Eminence Capital and Robert Joseph Caruso’s Select Equity Group have large positions in Henry Schein. Clint Carlson’s Carlson Capital started a brand new position in HSIC during the first quarter.
Generation Investment Management (GIM) was co-founded in 2004 by David Blood and Al Gore. The fund is a long-only equity fund with a long-term focus. GIM targets liberals and left-leaning investors who are more sensitive about environment, ethics, labor unions, etc. That’s why they invest in only those companies that are socially and environmentally responsible, and have good corporate governance policies. Generation Global Equity Fund has $6 Billion in assets under management in early 2011 and is said to return more than 50% during the 12 months ending in March 2010. David Blood was formerly the chief executive of Goldman Sachs Asset Management. Former Vice President Al Gore works one day a week for the fund.
According to Google Finance; “Henry Schein, Inc. is a distributor of healthcare products and services primarily to office-based healthcare practitioners. It serves 700,000 customers worldwide, including dental practitioners and laboratories, physician practices and animal health clinics, as well as government and other institutions. It conducts business in two segments: healthcare distribution and technology. These segments offer different products and services to the same customer base. The healthcare distribution segment aggregates dental, medical, animal health and international operating segments. The technology group provides software, technology and other value-added services to healthcare practitioners, primarily in the United States, Canada, the United Kingdom, Australia and New Zealand. On December 31, 2009, it acquired a majority interest in Butler Animal Health Holding Company, LLC. In April 2011, it acquired Alpha Scientific, Inc. In May 2011, it acquired Sogim Grimouille.”