Mastercard Incorporated
US ˙ NYSE ˙ US57636Q1040

SecurityMA / Mastercard Incorporated
InstitutionShell Asset Management Co
Latest Disclosed Ownership15,332 shares
Latest Disclosed Value $ 8,721
Shell Asset Management Co reports 74.38% decrease in ownership of MA / Mastercard Incorporated

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 15,332 shares of Mastercard Incorporated (US:MA) valued at $8,720,995 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 59,835 shares of Mastercard Incorporated. This represents a change in shares of -74.38% during the quarter. The current value of the position is $7,229,805 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)
2025-11-07 2025-09-30 13F MASTERCARD CL A 57636Q104 15,332 -44,503 -74.38 9 -75.76 0.8759
2025-07-23 2025-06-30 13F MASTERCARD CL A 57636Q104 59,835 10,159 20.45 34 22.22 1.1611
2025-05-14 2025-03-31 13F MASTERCARD CL A 57636Q104 49,676 -1,871 -3.63 27 0.00 1.2927
2025-02-14 2024-12-31 13F MASTERCARD CL A 57636Q104 51,547 -372 -0.72 27 8.00 1.1858
2024-11-07 2024-09-30 13F MASTERCARD CL A 57636Q104 51,919 634 1.24 26 13.64 1.1285
2024-07-25 2024-03-31 13F MASTERCARD CL A 57636Q104 51,285 -4,348 -7.82 23 -4.35 1.0302
2024-02-14 2023-12-31 13F MASTERCARD CL A 57636Q104 55,633 -17,843 -24.28 24 -20.69 1.0959
2023-11-08 2023-09-30 13F MASTERCARD CL A 57636Q104 73,476 -3,253 -4.24 29 -3.33 1.2020
2023-07-28 2023-06-30 13F MASTERCARD CL A 57636Q104 76,729 -7,006 -8.37 30 0.00 1.1903
2023-05-15 2023-03-31 13F MASTERCARD CL A 57636Q104 83,735 291 0.35 30 3.45 1.2628
2023-02-07 2022-12-31 13F MASTERCARD CL A 57636Q104 83,444 -10,733 -11.40 29 -99.89 1.2709
2022-11-14 2022-09-30 13F MASTERCARD CL A 57636Q104 94,177 -9,514 -9.18 26,778 -18.14 1.0436
2022-08-09 2022-06-30 13F MASTERCARD CL A 57636Q104 103,691 -4,958 -4.56 32,712 -15.75 0.9677
2022-05-04 2022-03-31 13F MASTERCARD CL A 57636Q104 108,649 -1,382 -1.26 38,829 -1.79 0.9165
2022-02-09 2021-12-31 13F MASTERCARD CL A 57636Q104 110,031 11,696 11.89 39,536 15.64 0.8112
2021-11-04 2021-09-30 13F MASTERCARD CL A 57636Q104 98,335 -3,857 -3.77 34,189 -8.36 0.7676
2021-08-12 2021-06-30 13F MASTERCARD CL A 57636Q104 102,192 -3,634 -3.43 37,309 -0.98 0.7233
2021-05-10 2021-03-31 13F MASTERCARD CL A 57636Q104 105,826 11,516 12.21 37,679 11.93 0.7539
2021-02-16 2020-12-31 13F MASTERCARD CL A 57636Q104 94,310 16,195 20.73 33,663 27.43 0.6951
2020-11-13 2020-09-30 13F MASTERCARD CL A 57636Q104 78,115 2,085 2.74 26,416 17.50 0.6141
2020-08-10 2020-06-30 13F MASTERCARD CL A 57636Q104 76,030 -38,457 -33.59 22,482 -18.71 0.5612
2020-05-11 2020-03-31 13F MASTERCARD CL A 57636Q104 114,487 -6,720 -5.54 27,655 -23.59 0.7705
2020-02-13 2019-12-31 13F MASTERCARD CL A 57636Q104 121,207 271 0.22 36,191 10.19 0.7797
2019-11-12 2019-09-30 13F MASTERCARD CL A 57636Q104 120,936 -7,421 -5.78 32,843 -3.27 0.7500
2019-08-12 2019-06-30 13F MASTERCARD CL A 57636Q104 128,357 -22,464 -14.89 33,954 -4.38 0.7513
2019-05-09 2019-03-31 13F MASTERCARD CL A 57636Q104 150,821 610 0.41 35,511 25.32 0.7830
2019-02-13 2018-12-31 13F MASTERCARD CL A 57636Q104 150,211 -30,743 -16.99 28,337 -29.65 0.7063
2018-11-13 2018-09-30 13F MASTERCARD CL A 57636Q104 180,954 -8,258 -4.36 40,282 8.33 0.7950
2018-08-10 2018-06-30 13F MASTERCARD CL A 57636Q104 189,212 -29,079 -13.32 37,184 -2.75 0.7623
2018-05-14 2018-03-31 13F MASTERCARD CL A 57636Q104 218,291 -3,613 -1.63 38,236 13.84 0.7613
2018-02-09 2017-12-31 13F MASTERCARD CL A 57636Q104 221,904 -12,981 -5.53 33,587 1.27 0.6667
2017-10-20 2017-09-30 13F/A-1 MASTERCARD CL A 57636Q104 234,885 -22,731 -8.82 33,166 6.01 0.7375
2017-10-18 2017-09-30 13F MASTERCARD CL A 57636Q104 245,310 -12,306 18,133
2017-07-26 2017-06-30 13F MASTERCARD CL A 57636Q104 257,616 13,892 5.70 31,287 14.14 0.7764
2017-04-26 2017-03-31 13F MASTERCARD CL A 57636Q104 243,724 36,937 17.86 27,412 28.39 0.6997
2017-01-10 2016-12-31 13F MASTERCARD CL A 57636Q104 206,787 -35,386 -14.61 21,351 -13.37 0.5773
2016-10-28 2016-09-30 13F MASTERCARD CL A 57636Q104 242,173 -47,037 -16.26 24,646 -3.23 0.5899
2016-07-25 2016-06-30 13F MASTERCARD CL A 57636Q104 289,210 38,180 15.21 25,468 7.36 0.5908
2016-05-11 2016-03-31 13F MASTERCARD CL A 57636Q104 251,030 30,351 13.75 23,722 10.41 0.5680
2016-02-05 2015-12-31 13F MASTERCARD CL A 57636Q104 220,679 -24,631 -10.04 21,485 18.49 0.5073
2015-10-13 2015-09-30 13F MASTERCARD CL A 57636Q104 245,310 13,679 5.91 18,133 -16.26 0.2874
2015-07-30 2015-06-30 13F MASTERCARD CL A 57636Q104 231,631 6,338 2.81 21,653 11.25 0.4333
2015-05-07 2015-03-31 13F MASTERCARD CL A 57636Q104 225,293 225,293 0.00 19,463 0.3389
2015-02-04 2014-12-31 13F MASTERCARD CL A 57636Q104 0 -245,310 -100.00 0 -100.00
2014-10-24 2014-09-30 13F MASTERCARD CL A 57636Q104 245,310 -7,743 -3.06 18,133 -2.47 0.2815
2014-08-08 2014-06-30 13F MASTERCARD CL A 57636Q104 253,053 -25,139 -9.04 18,592 -10.53 0.2865
2014-05-07 2014-03-31 13F MASTERCARD CL A 57636Q104 278,192 250,294 897.18 20,781 -10.84 0.3453
2014-02-03 2013-12-31 13F/A-1 MASTERCARD CL A 57636Q104 27,898 -7,942 -22.16 23,308 -3.33 0.3966
2014-01-27 2013-12-31 13F MASTERCARD CL A 57636Q104 27,898 23,308
2013-10-28 2013-09-30 13F MASTERCARD CL A 57636Q104 35,840 -1,135 -3.07 24,112 13.51 0.4430
2013-08-01 2013-06-30 13F MASTERCARD CL A 57636Q104 36,975 36,975 21,242 0.4044
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.