Mackenzie Tatananni

The investment firm co-founded and chaired by former vice president Al Gore recently slashed its holdings in Amazon.com stock, while exiting one major credit-card network and more than doubling down on another.

Generation Investment Management sold 3.3 million Amazon shares in the second quarter. As of June 30, the firm held 1.7 million shares of the e-commerce and cloud firm, according to a form filed with the Securities and Exchange Commission.

So far in the third quarter, Amazon stock has climbed 5.3%, edging out a 3.9% gain for the S&P 500.

Shares tumbled 8.3% on Aug. 1 after the company posted second-quarter earnings. Investors fretted that momentum in its Amazon Web Services cloud-computing segment was under pressure, and the company issued a soft outlook for operating income in the third quarter. In the past week, Amazon, which owns the Whole Foods Market supermarket chain, announced an expansion of same-day grocery delivery.

Generation also exited Mastercard in the second quarter, selling all 635,999 shares it had owned at the end of March. Meanwhile, the firm increased its investment in Visa by more than 63% to end the second quarter with 1.4 million shares.

Filings with the Securities and Exchange Commission show Generation has been steadily reducing its Mastercard holdings for years. The firm initiated a position in Visa in the quarter ended in September 2024 with the purchase of 829,255 shares.

Investors seem to be considering the role of card payments in the age of cryptocurrency and digital tokens. While both companies posted solid earnings last month, Mastercard shares have recently outperformed those of its larger peer. Since June 30, Mastercard stock has gained 3.5% versus a 3% decline for Visa shares.

Generation declined to comment on the firm's investment changes. As of June 30, it managed assets of $31.3 billion.

Another second-quarter change for Generation was an exit from an investment in Fortune Brands Innovation with the sale of 1.6 million shares. Fortune Brands is the maker of home and security products ranging from Master Lock padlocks to Moen faucets.

Fortune Brands reported strong quarterly results on July 31 and said it would be able to offset tariff-related costs. The previous quarter, Fortune Brands declined to provide detailed full-year guidance for 2025, citing "uncertainty around consumer demand and volumes."

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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August 17, 2025 02:00 ET (06:00 GMT)

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