Mastercard Incorporated
GB ˙ BATS-CHIXE ˙ US57636Q1040
SecurityGB:M4ID / Mastercard Incorporated
InstitutionVulcan Value Partners, LLC
Latest Disclosed Ownership383,179 shares
Latest Disclosed Value $ 191,459,219
Vulcan Value Partners, LLC reports 14.70% decrease in ownership of M4ID / Mastercard Incorporated

On May 11, 2026 - Vulcan Value Partners, LLC filed a 13F-HR form disclosing ownership of 383,179 shares of Mastercard Incorporated (GB:M4ID) valued at $191,459,219 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 449,194 shares of Mastercard Incorporated. This represents a change in shares of -14.70% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-11 2026-03-31 13F MASTERCARD Equity 57636Q104 383,179 -66,015 -14.70 191,459 74,688.67 5.0754
2026-02-09 2025-12-31 13F MASTERCARD Equity 57636Q104 449,194 -17,028 -3.65 256 -99.90 4.7092
2025-11-10 2025-09-30 13F MASTERCARD Equity 57636Q104 466,222 28,331 6.47 265,233 4.50 4.8079
2025-08-13 2025-06-30 13F MASTERCARD Equity 57636Q104 437,891 -136,454 -23.76 253,802 -19.38 4.4741
2025-05-08 2025-03-31 13F MASTERCARD Equity 57636Q104 574,345 -80,800 -12.33 314,816 -8.73 5.9125
2025-02-14 2024-12-31 13F MASTERCARD Equity 57636Q104 655,145 11,466 1.78 344,912 8.51 5.7688
2024-11-13 2024-09-30 13F MASTERCARD Equity 57636Q104 643,679 -45,319 -6.58 317,849 104,800.33 5.3206
2024-08-14 2024-06-30 13F MASTERCARD Equity 57636Q104 688,998 -14,199 -2.02 304 -10.36 4.6399
2024-05-15 2024-03-31 13F MASTERCARD Equity 57636Q104 703,197 -40,444 -5.44 339 6.62 4.9172
2024-02-13 2023-12-31 13F MASTERCARD Equity 57636Q104 743,641 -70,679 -8.68 317 -1.55 4.6529
2023-11-14 2023-09-30 13F MASTERCARD Equity 57636Q104 814,320 -218,500 -21.16 322 -20.69 4.9101
2023-08-14 2023-06-30 13F MASTERCARD Equity 57636Q104 1,032,820 -58,729 -5.38 406 2.53 5.1020
2023-05-15 2023-03-31 13F MASTERCARD Equity 57636Q104 1,091,549 -310,519 -22.15 397 -18.69 5.0210
2023-02-14 2022-12-31 13F MASTERCARD Equity 57636Q104 1,402,068 -283,871 -16.84 487 -99.90 6.5497
2022-11-14 2022-09-30 13F Mastercard Equity 57636Q104 1,685,939 -780,710 -31.65 479,380 -38.40 5.6084
2022-08-15 2022-06-30 13F MASTERCARD Equity 57636Q104 2,466,649 -758,870 -23.53 778,178 -32.49 7.6106
2022-05-16 2022-03-31 13F Mastercard Equity 57636Q104 3,225,519 -752,674 -18.92 1,152,736 -19.36 7.0741
2022-03-04 2021-12-31 13F/A-1 MASTERCARD Equity 57636Q104 3,978,193 119,194 3.09 1,429,444 6.54 7.3078
2022-02-14 2021-12-31 13F MASTERCARD Equity 57636Q104 3,978,193 119,194 1,429,444 7.3093
2021-11-15 2021-09-30 13F MASTERCARD Equity 57636Q104 3,858,999 235,046 6.49 1,341,697 1.41 7.2101
2021-08-16 2021-06-30 13F MASTERCARD Equity 57636Q104 3,623,953 -53,231 -1.45 1,323,069 1.05 7.1742
2021-05-17 2021-03-31 13F MASTERCARD Equity 57636Q104 3,677,184 391,455 11.91 1,309,261 11.63 7.7317
2021-02-16 2020-12-31 13F MASTERCARD Equity 57636Q104 3,285,729 390,154 13.47 1,172,808 19.77 7.5836
2020-11-16 2020-09-30 13F MASTERCARD Equity 57636Q104 2,895,575 -59,964 -2.03 979,196 12.04 7.6152
2020-08-14 2020-06-30 13F MASTERCARD Equity 57636Q104 2,955,539 1,056,225 55.61 873,953 90.49 6.8768
2020-05-15 2020-03-31 13F MASTERCARD Common Stock 57636Q104 1,899,314 -299,298 -13.61 458,798 -30.11 4.7551
2020-02-14 2019-12-31 13F Mastercard Common Stock 57636Q104 2,198,612 441,202 25.11 656,484 37.55 5.0378
2019-11-14 2019-09-30 13F MASTERCARD Common Stock 57636Q104 1,757,410 162,619 10.20 477,260 13.13 4.0386
2019-08-14 2019-06-30 13F MASTERCARD Common Stock 57636Q104 1,594,791 -1,683,390 -51.35 421,870 -45.34 3.7507
2019-05-16 2019-03-31 13F/A-1 Mastercard Common Stock 57636Q104 3,278,181 -393,792 -10.72 771,848 11.42 6.6536
2019-05-14 2019-03-31 13F MASTERCARD Common Stock 57636Q104 3,278,181 -393,792 771,848
2019-02-14 2018-12-31 13F MASTERCARD Common Stock 57636Q104 3,671,973 1,005,477 37.71 692,718 16.70 6.3865
2018-11-14 2018-09-30 13F MASTERCARD Common Stock 57636Q104 2,666,496 -186,878 -6.55 593,589 5.86 4.3324
2018-08-14 2018-06-30 13F MASTERCARD Common Stock 57636Q104 2,853,374 -324,037 -10.20 560,745 0.75 4.3376
2018-05-15 2018-03-31 13F MASTERCARD Common Stocks 57636Q104 3,177,411 -301,201 -8.66 556,555 5.70 4.4828
2018-02-14 2017-12-31 13F MASTERCARD Common Stocks 57636Q104 3,478,612 -400,017 -10.31 526,523 -3.86 4.3124
2017-11-14 2017-09-30 13F MASTERCARD Common Stocks 57636Q104 3,878,629 -190,265 -4.68 547,662 10.83 4.6903
2017-08-14 2017-06-30 13F MASTERCARD Common Stocks 57636Q104 4,068,894 203,261 5.26 494,167 13.66 4.4045
2017-05-15 2017-03-31 13F MASTERCARD Common Stocks 57636Q104 3,865,633 41,950 1.10 434,767 10.12 3.7539
2017-02-14 2016-12-31 13F MASTERCARD Common Stocks 57636Q104 3,823,683 -94,704 -2.42 394,796 -1.00 3.5168
2016-11-14 2016-09-30 13F MASTERCARD Common Stocks 57636Q104 3,918,387 -115,345 -2.86 398,774 12.26 3.6627
2016-08-15 2016-06-30 13F MASTERCARD Common Stocks 57636Q104 4,033,732 -5,603 -0.14 355,210 -6.94 3.4935
2016-05-18 2016-03-31 13F MASTERCARD Common Stocks 57636Q104 4,039,335 -42,305 -1.04 381,717 -3.94 3.4303
2016-02-16 2015-12-31 13F MASTERCARD Common Stocks 57636Q104 4,081,640 11,705 0.29 397,389 8.34 3.6946
2015-11-16 2015-09-30 13F MASTERCARD Common Stocks 57636Q104 4,069,935 370,894 10.03 366,782 6.07 3.5543
2015-08-14 2015-06-30 13F MASTERCARD Common Stocks 57636Q104 3,699,041 267,335 7.79 345,786 16.64 3.2753
2015-05-15 2015-03-31 13F MASTERCARD COM 57636Q104 3,431,706 -632,480 -15.56 296,465 -15.34 2.9525
2015-02-17 2014-12-31 13F MASTERCARD COM 57636Q104 4,064,186 310,725 8.28 350,171 26.30 3.9681
2014-11-07 2014-09-30 13F MASTERCARD Common 57636Q104 3,753,461 883,566 30.79 277,256 31.49 3.9472
2014-08-13 2014-06-30 13F MASTERCARD COM 57636Q104 2,869,895 542,087 23.29 210,851 21.26 3.1195
2014-05-13 2014-03-31 13F MASTERCARD COM 57636Q104 2,327,808 2,137,349 1,122.21 173,887 9.28 3.0755
2014-02-12 2013-12-31 13F MASTERCARD COM 57636Q104 190,459 31,840 20.07 159,121 49.11 3.3377
2013-11-12 2013-09-30 13F MASTERCARD COM 57636Q104 158,619 33,897 27.18 106,716 48.93 3.2579
2013-08-14 2013-06-30 13F MASTERCARD Common Stocks 57636Q104 124,722 124,722 71,653 3.1420
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.