Mastercard Incorporated
MX ˙ BMV ˙ US57636Q1040
SecurityMX:MA / Mastercard Incorporated
InstitutionFortem Financial Group, Llc
Latest Disclosed Ownership1,353 shares
Latest Disclosed Value $ 676,040
Fortem Financial Group, Llc reports 5.58% decrease in ownership of MA / Mastercard Incorporated

On April 16, 2026 - Fortem Financial Group, Llc filed a 13F-HR form disclosing ownership of 1,353 shares of Mastercard Incorporated (MX:MA) valued at $676,040 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 1,433 shares of Mastercard Incorporated. This represents a change in shares of -5.58% 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)
2026-04-16 2026-03-31 13F MASTERCARD CL A 57636Q104 1,353 -80 -5.58 676 -17.36 0.1696
2026-02-04 2025-12-31 13F MASTERCARD CL A 57636Q104 1,433 263 22.48 818 23.01 0.2187
2025-11-04 2025-09-30 13F MASTERCARD CL A 57636Q104 1,170 -314 -21.16 666 -20.17 0.1911
2025-08-12 2025-06-30 13F MASTERCARD CL A 57636Q104 1,484 -7 -0.47 834 1.96 0.2689
2025-05-01 2025-03-31 13F MASTERCARD CL A 57636Q104 1,491 -5 -0.33 817 3.81 0.3179
2025-01-06 2024-12-31 13F MASTERCARD CL A 57636Q104 1,496 14 0.94 788 7.66 0.3052
2024-11-18 2024-09-30 13F/A-1 MASTERCARD CL A 57636Q104 1,482 88 6.31 732 19.06 0.2976
2024-11-13 2024-09-30 13F MASTERCARD CL A 57636Q104 1,482 88 732 0.2976
2024-08-02 2024-06-30 13F MASTERCARD CL A 57636Q104 1,394 0 0.00 615 -8.49 0.2644
2024-05-01 2024-03-31 13F MASTERCARD CL A 57636Q104 1,394 0 0.00 671 12.96 0.2947
2024-02-13 2023-12-31 13F/A-1 MASTERCARD CL A 57636Q104 1,394 125 9.85 595 18.33 0.2958
2024-01-25 2023-12-31 13F MASTERCARD CL A 57636Q104 1,394 125 595 0.2958
2023-10-10 2023-09-30 13F MASTERCARD CL A 57636Q104 1,269 -15 -1.17 502 -0.40 0.2946
2023-07-18 2023-06-30 13F MASTERCARD CL A 57636Q104 1,284 13 1.02 505 9.33 0.2993
2023-04-21 2023-03-31 13F MASTERCARD CL A 57636Q104 1,271 -103 -7.50 462 -3.35 0.3008
2023-01-17 2022-12-31 13F MASTERCARD CL A 57636Q104 1,374 0 0.00 478 21.99 0.2801
2022-11-01 2022-09-30 13F MASTERCARD CL A 57636Q104 1,374 -338 -19.74 391 -27.59 0.2706
2022-07-25 2022-06-30 13F MASTERCARD CL A 57636Q104 1,712 -7,715 -81.84 540 -83.97 0.3529
2022-04-27 2022-03-31 13F MASTERCARD CL A 57636Q104 9,427 1,499 18.91 3,369 18.25 1.4746
2022-01-20 2021-12-31 13F MASTERCARD CL A 57636Q104 7,928 -133 -1.65 2,849 1.64 1.2992
2021-10-15 2021-09-30 13F MASTERCARD CL A 57636Q104 8,061 -88 -1.08 2,803 -5.78 1.4204
2021-07-14 2021-06-30 13F MASTERCARD CL A 57636Q104 8,149 554 7.29 2,975 10.02 1.5078
2021-04-20 2021-03-31 13F MASTERCARD CL A 57636Q104 7,595 -105 -1.36 2,704 -1.60 1.5657
2021-01-29 2020-12-31 13F MASTERCARD CL A 57636Q104 7,700 -62 -0.80 2,748 4.69 1.6461
2020-10-15 2020-09-30 13F MASTERCARD CL A 57636Q104 7,762 286 3.83 2,625 18.72 1.8997
2020-07-14 2020-06-30 13F MASTERCARD CL A 57636Q104 7,476 956 14.66 2,211 40.38 1.7076
2020-04-23 2020-03-31 13F MASTERCARD CL A 57636Q104 6,520 -1,975 -23.25 1,575 -37.92 1.4351
2020-02-11 2019-12-31 13F MASTERCARD CL A 57636Q104 8,495 -1,096 -11.43 2,537 -2.61 1.8816
2019-11-12 2019-09-30 13F MASTERCARD CL A 57636Q104 9,591 -1,438 -13.04 2,605 -10.73 2.2213
2019-08-09 2019-06-30 13F MASTERCARD CL A 57636Q104 11,029 -265 -2.35 2,918 9.74 2.9333
2019-05-13 2019-03-31 13F MASTERCARD CL A 57636Q104 11,294 -90 -0.79 2,659 23.79 2.7607
2019-02-14 2018-12-31 13F MASTERCARD CL A 57636Q104 11,384 11,384 2,148 2.5885
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.