Generation IM Q1 2026: Al Gore's Fund Doubles Amazon

Generation Investment Management, the sustainability-focused firm co-founded by Al Gore and David Blood, reported an $11.16B U.S. equity book for the quarter ended March 31, 2026 (Form 13F-HR, accession 0001752724-26-000018, filed 2026-05-14). Generation pairs a long-term, quality-growth approach with an explicit sustainability lens, and its concentrated book reflects that: 29 positions led by Microsoft (MSFT) at 14.83% and life-sciences company Danaher (DHR) at 12.36%.

The quarter's standout move was a 109% increase in Amazon (AMZN), more than doubling the position to 10.08% of the book. Generation also added 44% to West Pharmaceutical (WST) and 25% to Visa (V), while trimming Alphabet's GOOGL shares by 28%.

Behind those moves, Generation's reported value has fallen steadily — from above $19B in late 2024 to $11.16B — a multi-quarter decline consistent with outflows even as the manager actively reshapes the book.

A concentrated sustainable-quality book

After Microsoft, Danaher, and Amazon come e-commerce platform MercadoLibre (MELI) at 7.09%, Alphabet at 5.24%, West Pharmaceutical at 5.04%, Workday (WDAY) at 4.87%, and Trimble (TRMB) at 4.55%.

The composition is recognizably quality-growth filtered through a sustainability lens: enterprise software (Microsoft, Workday), life-sciences and healthcare tools (Danaher, West Pharmaceutical), positioning-and-precision technology (Trimble), and digital platforms (Amazon, MercadoLibre). With 29 names and the top five near 50% of the book, Generation runs a focused, long-horizon portfolio rather than a diversified index-like one.

Doubling down on Amazon

The 109% increase in Amazon is the clearest signal of the quarter — a high-conviction add that nearly doubled the position. Combined with the West Pharmaceutical and Visa increases and the Alphabet trim, the moves show Generation actively concentrating capital into its strongest convictions even as overall assets shrink.

The steady, multi-quarter decline in reported value points to outflows rather than a change in philosophy — the holdings remain quality-growth names held with conviction. For 13F readers, the Amazon add is the standout move worth noting.

What it means for 13F readers

Generation offers a window into sustainability-oriented quality-growth investing — concentrated, long-horizon, and tilted toward enterprise software, life sciences, and digital platforms. The aggressive Amazon add is the quarter's signal, and the steady asset decline is a reminder that a falling 13F value can reflect flows rather than a loss of conviction. Track the firm's quarter-over-quarter holdings on the Generation Investment Management filer page.

FAQ

What is Generation Investment Management?

Generation is a sustainability-focused investment firm co-founded by Al Gore and David Blood, applying a long-term quality-growth approach with an explicit sustainability lens. It reported an $11.16B U.S. equity 13F book for the quarter ended March 31, 2026.

What are Generation's largest holdings?

Its five largest positions are Microsoft (14.83%), Danaher (12.36%), Amazon (10.08%), MercadoLibre (7.09%), and Alphabet (5.24%) — a concentrated quality-growth book.

What was Generation's biggest move in Q1 2026?

Generation increased Amazon by 109%, more than doubling the position to 10.08% of the book, alongside a 44% add to West Pharmaceutical and 25% to Visa, while trimming Alphabet by 28%.

Why has Generation's 13F value declined?

The reported value fell from above $19B in late 2024 to $11.16B over several quarters, a steady decline consistent with outflows rather than a change in strategy. The holdings remain quality-growth names.