Mastercard Incorporated
US ˙ NYSE ˙ US57636Q1040

SecurityMA / Mastercard Incorporated
InstitutionCumberland Partners Ltd
Latest Disclosed Ownership47,433 shares
Latest Disclosed Value $ 23,700,372
Cumberland Partners Ltd reports 15.90% decrease in ownership of MA / Mastercard Incorporated

On May 14, 2026 - Cumberland Partners Ltd filed a 13F-HR form disclosing ownership of 47,433 shares of Mastercard Incorporated (US:MA) valued at $23,700,373 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 56,400 shares of Mastercard Incorporated. This represents a change in shares of -15.90% during the quarter. The current value of the position is $22,852,745 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)
2026-05-14 2026-03-31 13F MASTERCARD CL A 57636Q104 47,433 -8,967 -15.90 23,700 -26.39 1.4552
2026-02-06 2025-12-31 13F MASTERCARD CL A 57636Q104 56,400 -3,749 -6.23 32,198 -5.89 1.9720
2025-11-07 2025-09-30 13F MASTERCARD CL A 57636Q104 60,149 -727 -1.19 34,213 0.01 2.2360
2025-08-12 2025-06-30 13F MASTERCARD CL A 57636Q104 60,876 338 0.56 34,209 3.09 2.3724
2025-05-09 2025-03-31 13F MASTERCARD CL A 57636Q104 60,538 -1,890 -3.03 33,182 0.94 2.5592
2025-02-03 2024-12-31 13F MASTERCARD CL A 57636Q104 62,428 879 1.43 32,873 8.16 2.2925
2024-11-05 2024-09-30 13F MASTERCARD CL A 57636Q104 61,549 555 0.91 30,393 12.95 2.1099
2024-08-13 2024-06-30 13F MASTERCARD CL A 57636Q104 60,994 1,313 2.20 26,908 -6.37 1.9568
2024-05-09 2024-03-31 13F MASTERCARD CL A 57636Q104 59,681 37,131 164.66 28,741 200.69 2.0863
2024-02-01 2023-12-31 13F MASTERCARD CL A 57636Q104 22,550 -2,495 -9.96 9,559 -3.60 0.8748
2023-11-08 2023-09-30 13F MASTERCARD CL A 57636Q104 25,045 1,075 4.48 9,916 5.18 0.9537
2023-08-09 2023-06-30 13F MASTERCARD CL A 57636Q104 23,970 4,615 23.84 9,427 34.04 0.8649
2023-05-08 2023-03-31 13F MASTERCARD CL A 57636Q104 19,355 5,445 39.14 7,034 45.43 0.6903
2023-02-06 2022-12-31 13F MASTERCARD CL A 57636Q104 13,910 2,375 20.59 4,837 47.44 0.5097
2022-11-14 2022-09-30 13F Mastercard Inc Cl-A CL A 57636Q104 11,535 -125 -1.07 3,280 -10.85 0.3483
2022-08-10 2022-06-30 13F Mastercard Inc Cl-A CL A 57636Q104 11,660 2,820 31.90 3,679 16.46 0.3511
2022-05-10 2022-03-31 13F MASTERCARD CL A 57636Q104 8,840 -2,739 -23.65 3,159 -24.08 0.2389
2022-02-10 2021-12-31 13F MASTERCARD CL A 57636Q104 11,579 -40,905 -77.94 4,161 -77.20 0.2925
2021-11-10 2021-09-30 13F Mastercard Inc Cl-A CL A 57636Q104 52,484 3,974 8.19 18,248 3.03 1.4947
2021-08-09 2021-06-30 13F Mastercard Inc Cl-A CL A 57636Q104 48,510 534 1.11 17,711 3.68 1.3892
2021-05-11 2021-03-31 13F Mastercard Inc Cl-A CL A 57636Q104 47,976 3,585 8.08 17,082 7.81 1.4069
2021-02-11 2020-12-31 13F Mastercard Inc Cl-A CL A 57636Q104 44,391 -1,602 -3.48 15,845 2.20 1.4202
2020-11-03 2020-09-30 13F Mastercard Inc Cl-A CL A 57636Q104 45,993 9,414 25.74 15,504 43.33 1.6212
2020-08-04 2020-06-30 13F Mastercard Inc Cl-A CL A 57636Q104 36,579 19,413 113.09 10,817 160.78 1.1224
2020-05-13 2020-03-31 13F Mastercard Inc Cl-A CL A 57636Q104 17,166 9,873 135.38 4,148 90.45 0.4989
2020-02-07 2019-12-31 13F Mastercard Inc Cl-A CL A 57636Q104 7,293 -3,250 -30.83 2,178 -23.95 0.1933
2019-11-13 2019-09-30 13F Mastercard Inc Cl-A CL A 57636Q104 10,543 1,343 14.60 2,864 17.67 0.2753
2019-08-08 2019-06-30 13F Mastercard Inc Cl-A CL A 57636Q104 9,200 -350 -3.66 2,434 8.23 0.2338
2019-05-15 2019-03-31 13F Mastercard Inc Cl-A CL A 57636Q104 9,550 -1,575 -14.16 2,249 7.15 0.2262
2019-02-12 2018-12-31 13F Mastercard Inc Cl-A COM 57636Q104 11,125 1,900 20.60 2,099 2.19 0.2371
2018-11-15 2018-09-30 13F Mastercard Inc Cl-A CL A 57636Q104 9,225 -2,750 -22.96 2,054 -12.71 0.1961
2018-08-09 2018-06-30 13F Mastercard Inc Cl-A CL A 57636Q104 11,975 11,975 2,353 0.2368
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.