Mastercard Incorporated
CL ˙ SNSE ˙ US57636Q1040
SecurityCL:MA / Mastercard Incorporated
InstitutionGiverny Capital Inc.
ManagerFrancois Rochon
Latest Disclosed Ownership28,066 shares
Latest Disclosed Value $ 14,023,458
Giverny Capital Inc. reports 2.41% decrease in ownership of MA / Mastercard Incorporated

On May 15, 2026 - Giverny Capital Inc. filed a 13F-HR form disclosing ownership of 28,066 shares of Mastercard Incorporated (CL:MA) valued at $14,023,458 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 28,759 shares of Mastercard Incorporated. This represents a change in shares of -2.41% 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)
2026-05-15 2026-03-31 13F MASTERCARD CL A 57636Q104 28,066 -693 -2.41 14,023 -14.58 0.5134
2026-02-13 2025-12-31 13F MASTERCARD CL A 57636Q104 28,759 1,035 3.73 16,418 4.11 0.5477
2025-11-17 2025-09-30 13F/A-2 MASTERCARD CL A 57636Q104 27,724 -117 -0.42 15,770 0.80 0.5344
2025-11-14 2025-09-30 13F/A-1 MASTERCARD CL A 57636Q104 27,724 -117 15,770 0.5029
2025-11-14 2025-09-30 13F MASTERCARD CL A 57636Q104 27,724 -117 15,770 0.4835
2025-08-13 2025-06-30 13F MASTERCARD CL A 57636Q104 27,841 798 2.95 15,645 5.55 0.5366
2025-08-12 2025-03-31 13F/A-1 MASTERCARD CL A 57636Q104 27,043 768 2.92 14,823 7.13 0.5464
2025-05-13 2025-03-31 13F MASTERCARD CL A 57636Q104 27,043 768 14,823 0.5464
2025-08-12 2024-12-31 13F/A-1 MASTERCARD CL A 57636Q104 26,275 729 2.85 13,836 9.68 0.5057
2025-02-13 2024-12-31 13F MASTERCARD CL A 57636Q104 26,275 729 13,836 0.5057
2024-11-13 2024-09-30 13F MASTERCARD CL A 57636Q104 25,546 2,022 8.60 12,615 21.56 0.4796
2024-08-14 2024-06-30 13F MASTERCARD CL A 57636Q104 23,524 703 3.08 10,378 -5.57 0.4385
2024-05-13 2024-03-31 13F MASTERCARD CL A 57636Q104 22,821 1,431 6.69 10,990 20.45 0.4469
2024-02-09 2023-12-31 13F MASTERCARD CL A 57636Q104 21,390 630 3.03 9,123 11.00 0.4288
2024-01-25 2023-09-30 13F/A-1 MASTERCARDINCORPORATED CLA 57636Q104 20,760 1,452 7.52 8,219 8.24 0.4461
2023-11-13 2023-09-30 13F MASTERCARD CL A 57636Q104 20,760 1,452 8,219 0.4464
2023-08-07 2023-06-30 13F MASTERCARD CL A 57636Q104 19,308 472 2.51 7,594 10.93 0.3995
2023-05-12 2023-03-31 13F MASTERCARD CL A 57636Q104 18,836 1,442 8.29 6,845 13.18 0.4123
2023-05-17 2022-12-31 13F/A-1 MASTERCARD CL A 57636Q104 17,394 1,887 12.17 6,048 37.17 0.3739
2023-02-10 2022-12-31 13F MASTERCARD CL A 57636Q104 17,394 1,887 6 0.3739
2022-11-14 2022-09-30 13F MASTERCARD CL A 57636Q104 15,507 497 3.31 4,409 -6.88 0.2986
2022-08-12 2022-06-30 13F MASTERCARD CL A 57636Q104 15,010 55 0.37 4,735 -11.41 0.3120
2022-05-12 2022-03-31 13F MASTERCARD CL A 57636Q104 14,955 408 2.80 5,345 2.26 0.3017
2022-02-11 2021-12-31 13F MASTERCARD CL A 57636Q104 14,547 1,348 10.21 5,227 13.90 0.2788
2021-11-15 2021-09-30 13F/A-1 MASTERCARD CL A 57636Q104 13,199 4,049 44.25 4,589 37.35 0.2736
2021-11-12 2021-09-30 13F MASTERCARD CL A 57636Q104 13,199 4,049 4,589 0.2708
2021-08-13 2021-06-30 13F MASTERCARD INC CL-A CL A 57636Q104 9,150 -839 -8.40 3,341 -6.07 0.2032
2021-05-17 2021-03-31 13F MASTERCARD INC CL-A CL A 57636Q104 9,989 344 3.57 3,557 3.31 0.2379
2021-02-16 2020-12-31 13F MASTERCARD INC CL-A CL A 57636Q104 9,645 1,379 16.68 3,443 23.18 0.2641
2020-11-13 2020-09-30 13F MASTERCARD INC CL-A CL A 57636Q104 8,266 115 1.41 2,795 15.98 0.2563
2020-08-07 2020-06-30 13F MASTERCARD INC CL-A CL A 57636Q104 8,151 6,210 319.94 2,410 413.86 0.2396
2020-05-15 2020-03-31 13F MASTERCARD INC CL-A CL A 57636Q104 1,941 0 0.00 469 -19.14 0.0597
2020-02-07 2019-12-31 13F MASTERCARD INC CL-A CL A 57636Q104 1,941 -98 -4.81 580 4.69 0.0525
2019-11-14 2019-09-30 13F MASTERCARD INC CL-A CL A 57636Q104 2,039 0 0.00 554 2.78 0.0552
2019-08-13 2019-06-30 13F MASTERCARD INC CL-A CL A 57636Q104 2,039 0 0.00 539 12.29 0.0544
2019-05-14 2019-03-31 13F MASTERCARD INC CL-A CL A 57636Q104 2,039 -35 -1.69 480 22.76 0.0551
2019-02-13 2018-12-31 13F MASTERCARD INC CL-A CL A 57636Q104 2,074 0 0.00 391 -15.37 0.0515
2018-11-13 2018-09-30 13F MASTERCARD INC CL-A CL A 57636Q104 2,074 -1,075 -34.14 462 -25.36 0.0523
2018-08-13 2018-06-30 13F/A-1 MASTERCARD INC CL-A CL A 57636Q104 3,149 -55 -1.72 619 10.34 0.0805
2018-08-13 2018-06-30 13F MASTERCARD INC CL-A CL A 57636Q104 4,794 1,590 942
2018-05-11 2018-03-31 13F MASTERCARD INC CL-A CL A 57636Q104 3,204 0 0.00 561 15.67 0.0751
2018-02-13 2017-12-31 13F MASTERCARD INC CL-A CL A 57636Q104 3,204 0 0.00 485 7.30 0.0665
2017-11-13 2017-09-30 13F MASTERCARD CL A 57636Q104 3,204 1,700 113.03 452 146.99 0.0660
2017-08-04 2017-06-30 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 183 8.28 0.0296
2017-05-11 2017-03-31 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 169 9.03 0.0281
2017-02-10 2016-12-31 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 155 1.31 0.0262
2016-11-08 2016-09-30 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 153 15.91 0.0285
2016-08-11 2016-06-30 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 132 -7.04 0.0256
2016-05-11 2016-03-31 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 142 -2.74 0.0279
2016-02-11 2015-12-31 13F MASTERCARD CL A 57636Q104 1,504 0 0.00 146 7.35 0.0291
2015-11-12 2015-09-30 13F MASTERCARD INC CL-A CL A 57636Q104 1,504 0 0.00 136 -3.55 0.0274
2015-08-12 2015-06-30 13F MASTERCARD CL A 57636Q104 1,504 -2,676 -64.02 141 -60.94 0.0282
2015-05-12 2015-03-31 13F MASTERCARD CL A 57636Q104 4,180 4,180 361 0.0790
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.