Meritage Portfolio Management reports 2.05% decrease in ownership of 1MA / Mastercard Incorporated

Mastercard Incorporated

IT ˙ BIT ˙ US57636Q1040

420,60 € ↑4,20 (1,01%)

2026-06-05
DEL PRIS

Security	IT:1MA / Mastercard Incorporated
Institution	Meritage Portfolio Management
Latest Disclosed Ownership	27,037 shares
Latest Disclosed Value	$ 15,434,883

On January 27, 2026 - Meritage Portfolio Management filed a 13F-HR form disclosing ownership of 27,037 shares of Mastercard Incorporated (IT:1MA) valued at $13,258,945 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 28, 2025 disclosing 27,602 shares of Mastercard Incorporated. This represents a change in shares of -2.05% during the quarter. The current value of the position is $11,371,762 USD.

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	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-01-27	2025-12-31	13F	MASTERCARD	COMMON	57636Q104	27,037	-565	-2.05	15,435	-1.69	1.0244
2025-10-28	2025-09-30	13F	MASTERCARD	COMMON	57636Q104	27,602	-6,950	-20.11	15,700	-19.14	1.0456
2025-07-25	2025-06-30	13F	MASTERCARD	COMMON	57636Q104	34,552	-2,404	-6.51	19,416	-4.15	1.2290
2025-04-28	2025-03-31	13F	MASTERCARD	COMMON	57636Q104	36,956	-824	-2.18	20,256	1.82	1.3432
2025-01-27	2024-12-31	13F	MASTERCARD	COMMON	57636Q104	37,780	-947	-2.45	19,894	104,600.00	1.2345
2024-11-04	2024-09-30	13F	MASTERCARD	COMMON	57636Q104	38,727	-347	-0.89	19	11.76	1.1714
2024-08-09	2024-06-30	13F	MASTERCARD	COMMON	57636Q104	39,074	-573	-1.45	17	-10.53	1.0882
2024-04-29	2024-03-31	13F	MASTERCARD	COMMON	57636Q104	39,647	-1,304	-3.18	19	11.76	1.2155
2024-02-02	2023-12-31	13F	MASTERCARD	COMMON	57636Q104	40,951	3,172	8.40	17	21.43	1.1516
2023-10-30	2023-09-30	13F	MASTERCARD	COMMON	57636Q104	37,779	-8	-0.02	15	0.00	1.1045
2023-07-31	2023-06-30	13F	MASTERCARD	COMMON	57636Q104	37,787	-1,725	-4.37	15	0.00	1.0521
2023-04-25	2023-03-31	13F	MASTERCARD	COMMON	57636Q104	39,512	14,152	55.80	14	75.00	1.0749
2023-02-01	2022-12-31	13F	MASTERCARD	COMMON	57636Q104	25,360	-2,028	-7.40	9	-99.90	0.6900
2022-10-25	2022-09-30	13F	MASTERCARD	COMMON	57636Q104	27,388	-133	-0.48	7,788	-10.30	0.6451
2022-07-25	2022-06-30	13F	MASTERCARD	COMMON	57636Q104	27,521	20,733	305.44	8,682	257.87	0.6736
2022-04-25	2022-03-31	13F	MASTERCARD	COMMON	57636Q104	6,788	0	0.00	2,426	-0.53	0.1502
2022-01-28	2021-12-31	13F	MASTERCARD	COMMON	57636Q104	6,788	-776	-10.26	2,439	-7.26	0.1383
2021-10-26	2021-09-30	13F	MASTERCARD	COMMON	57636Q104	7,564	0	0.00	2,630	-4.78	0.1578
2021-07-26	2021-06-30	13F	MASTERCARD	COMMON	57636Q104	7,564	-31	-0.41	2,762	2.14	0.1665
2021-04-27	2021-03-31	13F	MASTERCARD	COMMON	57636Q104	7,595	-42,732	-84.91	2,704	-84.95	0.1802
2021-02-03	2020-12-31	13F	MASTERCARD	COMMON	57636Q104	50,327	208	0.42	17,964	5.99	1.3196
2020-10-26	2020-09-30	13F	MASTERCARD	COMMON	57636Q104	50,119	70	0.14	16,949	14.52	1.5150
2020-07-27	2020-06-30	13F	MASTERCARD	COMMON	57636Q104	50,049	1,604	3.31	14,800	26.47	1.4226
2020-04-27	2020-03-31	13F	MASTERCARD	COMMON	57636Q104	48,445	-43,790	-47.48	11,702	-57.51	1.5886
2020-01-27	2019-12-31	13F	MASTERCARD	COMMON	57636Q104	92,235	-1,087	-1.16	27,540	8.67	2.4221
2019-10-25	2019-09-30	13F	MASTERCARD	COMMON	57636Q104	93,322	3,662	4.08	25,343	6.85	2.4047
2019-07-30	2019-06-30	13F	MASTERCARD	COMMON	57636Q104	89,660	1,453	1.65	23,718	14.20	2.4153
2019-04-25	2019-03-31	13F	MASTERCARD	COMMON	57636Q104	88,207	-1,954	-2.17	20,768	22.10	2.1046
2019-01-25	2018-12-31	13F	MASTERCARD	COMMON	57636Q104	90,161	-70,313	-43.82	17,009	-52.39	1.9407
2018-10-30	2018-09-30	13F	MASTERCARD	COMMON	57636Q104	160,474	-1,567	-0.97	35,723	12.18	3.2723
2018-07-25	2018-06-30	13F	MASTERCARD	COMMON	57636Q104	162,041	-1,187	-0.73	31,844	11.38	3.1005
2018-04-26	2018-03-31	13F	MASTERCARD	COMMON	57636Q104	163,228	3,943	2.48	28,591	18.59	2.7608
2018-01-29	2017-12-31	13F	MASTERCARD	COMMON	57636Q104	159,285	-2,690	-1.66	24,110	5.42	2.3097
2017-10-16	2017-09-30	13F	MASTERCARD	COMMON	57636Q104	161,975	31,880	24.51	22,871	44.75	2.2431
2017-07-25	2017-06-30	13F	MASTERCARD	COMMON	57636Q104	130,095	-1,883	-1.43	15,800	6.44	1.6246
2017-04-25	2017-03-31	13F	MASTERCARD	COMMON	57636Q104	131,978	36,404	38.09	14,844	50.43	1.5569
2017-01-24	2016-12-31	13F	MASTERCARD	COMMON	57636Q104	95,574	-320	-0.33	9,868	1.11	1.0775
2016-11-08	2016-09-30	13F	MASTERCARD	COMMON	57636Q104	95,894	-762	-0.79	9,760	14.66	1.0708
2016-07-20	2016-06-30	13F	MASTERCARD	COMMON	57636Q104	96,656	-1,710	-1.74	8,512	-8.42	0.9568
2016-04-21	2016-03-31	13F	MASTERCARD	COMMON	57636Q104	98,366	-1,008	-1.01	9,295	-3.93	1.0512
2016-02-03	2015-12-31	13F	MASTERCARD	COMMON	57636Q104	99,374	1,035	1.05	9,675	9.17	1.0886
2015-10-21	2015-09-30	13F	MASTERCARD	COMMON	57636Q104	98,339	2,081	2.16	8,862	-1.51	1.0274
2015-07-22	2015-06-30	13F	MASTERCARD	COMMON	57636Q104	96,258	790	0.83	8,998	9.09	0.9440
2015-04-28	2015-03-31	13F	MASTERCARD	COMMON	57636Q104	95,468	95,468	0.00	8,248		0.8281
2015-01-29	2014-12-31	13F	MASTERCARD	COMMON	57636Q104	0	-95,345	-100.00	0	-100.00
2014-10-28	2014-09-30	13F	MASTERCARD	COMMON	57636Q104	95,345	-2,810	-2.86	7,048	-2.26	0.8026
2014-07-28	2014-06-30	13F	MASTERCARD	COMMON	57636Q104	98,155	1,550	1.60	7,211	-0.07	0.7852
2014-04-29	2014-03-31	13F	MASTERCARD	COMMON	57636Q104	96,605	87,072	913.37	7,216	-9.39	0.8654
2014-01-31	2013-12-31	13F	MASTERCARD	COMMON	57636Q104	9,533	-427	-4.29	7,964	18.85	0.9860
2013-10-31	2013-09-30	13F	MASTERCARD	COMMON	57636Q104	9,960	317	3.29	6,701	20.96	0.8679
2013-07-31	2013-06-30	13F	MASTERCARD	COMMON	57636Q104	9,643	9,643		5,540		0.7939

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.