Mastercard Incorporated
US ˙ NYSE ˙ US57636Q1040

SecurityMA / Mastercard Incorporated
InstitutionBell Asset Management Ltd
Latest Disclosed Ownership12,077 shares
Latest Disclosed Value $ 6,041,882
Bell Asset Management Ltd reports 6.62% increase in ownership of MA / Mastercard Incorporated

On April 29, 2026 - Bell Asset Management Ltd filed a 13F-HR form disclosing ownership of 12,077 shares of Mastercard Incorporated (US:MA) valued at $6,034,394 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 11,327 shares of Mastercard Incorporated. This represents a change in shares of 6.62% during the quarter. The current value of the position is $5,930,773 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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-04-29 2026-03-31 13F MASTERCARD CL A 57636Q104 12,077 750 6.62 6,042 -7.06 1.7781
2026-02-17 2025-12-31 13F MASTERCARD CL A 57636Q104 11,327 1,637 16.89 6,501 17.95 1.7375
2025-11-13 2025-09-30 13F MASTERCARD CL A 57636Q104 9,690 -3,033 -23.84 5,512 -22.91 1.5065
2025-08-13 2025-06-30 13F MASTERCARD CL A 57636Q104 12,723 -5,851 -31.50 7,150 -29.77 1.5764
2025-05-14 2025-03-31 13F MASTERCARD CL A 57636Q104 18,574 -347 -1.83 10,181 2.18 1.8731
2025-02-13 2024-12-31 13F MASTERCARD CL A 57636Q104 18,921 -4,974 -20.82 9,963 -15.56 1.8144
2024-11-13 2024-09-30 13F MASTERCARD CL A 57636Q104 23,895 -15,511 -39.36 11,799 -32.13 2.1616
2024-08-13 2024-06-30 13F MASTERCARD CL A 57636Q104 39,406 16,643 73.11 17,384 58.60 2.4384
2024-05-14 2024-03-31 13F MASTERCARD CL A 57636Q104 22,763 -130 -0.57 10,962 12.26 1.6067
2024-02-13 2023-12-31 13F MASTERCARD CL A 57636Q104 22,893 -95 -0.41 9,764 7.28 1.4891
2023-11-13 2023-09-30 13F MASTERCARD CL A 57636Q104 22,988 1,979 9.42 9,101 10.15 1.4978
2023-08-11 2023-06-30 13F MASTERCARD CL A 57636Q104 21,009 2,134 11.31 8,263 20.45 1.4136
2023-05-12 2023-03-31 13F MASTERCARD CL A 57636Q104 18,875 -12,431 -39.71 6,859 -36.99 1.2538
2023-02-13 2022-12-31 13F MASTERCARD CL A 57636Q104 31,306 -9,849 -23.93 10,886 -6.97 2.0382
2022-11-10 2022-09-30 13F MASTERCARD CL A 57636Q104 41,155 2,019 5.16 11,702 -5.22 2.3731
2022-08-12 2022-06-30 13F MASTERCARD CL A 57636Q104 39,136 716 1.86 12,347 -10.08 2.4358
2022-05-13 2022-03-31 13F MASTERCARD CL A 57636Q104 38,420 -170 -0.44 13,731 -0.97 2.3632
2022-02-11 2021-12-31 13F MASTERCARD CL A 57636Q104 38,590 5,475 16.53 13,866 20.44 2.2355
2021-11-12 2021-09-30 13F MASTERCARD CL A 57636Q104 33,115 17,443 111.30 11,513 101.21 1.9634
2021-08-13 2021-06-30 13F MASTERCARD CL A 57636Q104 15,672 -84 -0.53 5,722 2.00 1.1194
2021-05-14 2021-03-31 13F MASTERCARD CL A 57636Q104 15,756 -1,035 -6.16 5,610 -6.39 1.2045
2021-02-12 2020-12-31 13F MASTERCARD CL A 57636Q104 16,791 843 5.29 5,993 11.13 1.3114
2020-11-13 2020-09-30 13F MASTERCARD CL A 57636Q104 15,948 -1,561 -8.92 5,393 4.17 1.3417
2020-08-13 2020-06-30 13F MASTERCARD CL A 57636Q104 17,509 0 0.00 5,177 22.42 1.4040
2020-05-14 2020-03-31 13F MASTERCARD CL A 57636Q104 17,509 -603 -3.33 4,229 -21.80 1.3180
2020-02-13 2019-12-31 13F MASTERCARD CL A 57636Q104 18,112 -14,911 -45.15 5,408 -39.70 1.3911
2019-11-13 2019-09-30 13F MASTERCARD CL A 57636Q104 33,023 -3,937 -10.65 8,968 -8.27 1.3772
2019-08-13 2019-06-30 13F MASTERCARD CL A 57636Q104 36,960 -4,069 -9.92 9,777 1.21 1.5851
2019-04-11 2019-03-31 13F MASTERCARD CL A 57636Q104 41,029 6,803 19.88 9,660 49.61 1.6602
2019-01-22 2018-12-31 13F MASTERCARD CL A 57636Q104 34,226 678 2.02 6,457 -13.54 1.3565
2018-10-29 2018-09-30 13F MASTERCARD CL A 57636Q104 33,548 1,625 5.09 7,468 18.77 1.5528
2018-08-13 2018-06-30 13F MASTERCARD CL A 57636Q104 31,923 286 0.90 6,288 -12.96 1.5172
2018-04-30 2018-03-31 13F MASTERCARD CL A 57636Q104 31,637 -5,886 -15.69 7,224 27.21 1.4466
2018-02-14 2017-12-31 13F MASTERCARD CL A 57636Q104 37,523 37,523 5,679 1.3574
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.