Top 5 ESG Stocks Al Gore’s $25 Billion Hedge Fund Is Buying

3. Baxter International Inc. (NYSE: BAX)

The health care equipment developer Baxter International Inc. (NYSE: BAX) is one of the most favorite stocks of Al Gore. The sustainable investing hedge fund has raised its stake in Baxter by 11% to 11.8 million shares, accounting for 5.06% of the overall portfolio.

The number of hedge fund positions in Baxter International stood around 51 at the end of September, down from the all-time high of 59.  Some hedge funds including Oakmark Funds believe BAX shares are overvalued. Here’s what Oakmark Funds stated:  

“We first bought Baxter in the fourth quarter of 2016 with the belief that new CEO Joe Almeida could increase the company’s margins substantially. Since then, margins have increased from 11% to over 18%, and the share price has doubled. With this strong performance, the stock no longer sells at a meaningful discount to our estimate of intrinsic value, so we sold our holdings.