Mastercard Incorporated
US ˙ NYSE ˙ US57636Q1040

SecurityMA / Mastercard Incorporated
InstitutionLeuthold Group, Llc
Latest Disclosed Ownership12,330 shares
Latest Disclosed Value $ 6,160,808
Leuthold Group, Llc reports 21.06% decrease in ownership of MA / Mastercard Incorporated

On May 6, 2026 - Leuthold Group, Llc filed a 13F-HR form disclosing ownership of 12,330 shares of Mastercard Incorporated (US:MA) valued at $6,160,808 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 5, 2026 disclosing 15,619 shares of Mastercard Incorporated. This represents a change in shares of -21.06% during the quarter. The current value of the position is $5,940,101 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)
2026-05-06 2026-03-31 13F Mastercard Inc. Cl A COM 57636Q104 12,330 -3,289 -21.06 6,161 -30.91 0.6563
2026-02-05 2025-12-31 13F Mastercard Inc. Cl A COM 57636Q104 15,619 -11 -0.07 8,917 0.29 0.9629
2025-11-06 2025-09-30 13F Mastercard Inc. Cl A COM 57636Q104 15,630 528 3.50 8,890 4.76 0.9727
2025-08-13 2025-06-30 13F Mastercard Inc. Cl A COM 57636Q104 15,102 -244 -1.59 8,486 0.89 1.0139
2025-05-13 2025-03-31 13F Mastercard Inc. Cl A COM 57636Q104 15,346 -1,126 -6.84 8,411 -3.02 1.0922
2025-02-03 2024-12-31 13F Mastercard Inc. Cl A COM 57636Q104 16,472 -563 -3.30 8,674 3.11 1.0417
2024-10-24 2024-09-30 13F Mastercard COM 57636Q104 17,035 -1,205 -6.61 8,412 4.54 0.9350
2024-08-12 2024-06-30 13F Mastercard CL A 57636Q104 18,240 -164 -0.89 8,047 -9.21 0.9300
2024-05-06 2024-03-31 13F Mastercard CL A 57636Q104 18,404 -35 -0.19 8,863 12.69 0.9980
2024-02-06 2023-12-31 13F Mastercard CL A 57636Q104 18,439 -11 -0.06 7,864 7.67 0.9840
2023-11-07 2023-09-30 13F Mastercard CL A 57636Q104 18,450 -340 -1.81 7,305 -1.16 1.0245
2023-08-08 2023-06-30 13F Mastercard Inc. Cl A COM 57636Q104 18,790 -685 -3.52 7,390 4.42 0.9575
2023-04-18 2023-03-31 13F Mastercard Inc. Cl A COM 57636Q104 19,475 -398 -2.00 7,077 2.42 0.9347
2023-02-07 2022-12-31 13F/A-1 Mastercard Inc. Cl A COM 57636Q104 19,873 -465 -2.29 6,910 19.49 0.9313
2023-01-31 2022-12-31 13F Mastercard Inc. Cl A COM 57636Q104 19,873 -465 7 0.9312
2022-10-31 2022-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 20,338 -407 -1.96 5,783 -11.64 0.8715
2022-08-01 2022-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 20,745 -618 -2.89 6,545 -14.28 0.9293
2022-05-04 2022-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 21,363 -83 -0.39 7,635 -0.92 0.9778
2022-02-03 2021-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 21,446 -528 -2.40 7,706 0.86 0.9027
2021-11-15 2021-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 21,974 59 0.27 7,640 -4.51 0.9374
2021-08-13 2021-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 21,915 -381 -1.71 8,001 0.79 0.9823
2021-05-17 2021-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 22,296 -2,042 -8.39 7,938 -8.62 1.0010
2021-02-16 2020-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 24,338 -13,403 -35.51 8,687 -31.94 1.1452
2020-11-16 2020-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 37,741 -746 -1.94 12,763 12.14 1.7497
2020-08-14 2020-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 38,487 -945 -2.40 11,381 19.49 1.6947
2020-05-15 2020-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 39,432 -2,542 -6.06 9,525 -24.00 1.7163
2020-02-14 2019-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 41,974 -1,634 -3.75 12,533 5.83 1.6320
2019-11-14 2019-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 43,608 -2,348 -5.11 11,843 -2.58 1.5513
2019-08-14 2019-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 45,956 -3,011 -6.15 12,157 5.45 1.5677
2019-05-15 2019-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 48,967 -1,680 -3.32 11,529 20.66 1.5509
2019-02-14 2018-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 50,647 -6,080 -10.72 9,555 -24.33 1.3693
2018-11-14 2018-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 56,727 -1,495 -2.57 12,628 10.37 1.3759
2018-08-14 2018-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 58,222 -645 -1.10 11,442 10.97 1.2590
2018-05-15 2018-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 58,867 -10,008 -14.53 10,311 -1.09 1.1733
2018-02-14 2017-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 68,875 -1,464 -2.08 10,425 4.96 1.0412
2017-11-14 2017-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 70,339 -1,584 -2.20 9,932 13.70 1.0030
2017-08-14 2017-06-30 13F Mastercard Inc. Cl A CL A 57636Q104 71,923 -2,506 -3.37 8,735 4.35 0.9359
2017-05-15 2017-03-31 13F Mastercard Inc. Cl A CL A 57636Q104 74,429 -1,656 -2.18 8,371 6.56 0.9019
2017-02-14 2016-12-31 13F Mastercard Inc. Cl A CL A 57636Q104 76,085 -7,027 -8.45 7,856 -7.12 0.8788
2016-11-14 2016-09-30 13F Mastercard Inc. Cl A CL A 57636Q104 83,112 -2,703 -3.15 8,458 11.92 0.8888
2016-08-15 2016-06-30 13F MasterCard Inc. Cl A CL A 57636Q104 85,815 7,927 10.18 7,557 2.68 0.7997
2016-05-16 2016-03-31 13F MasterCard Inc. Cl A CL A 57636Q104 77,888 1,554 2.04 7,360 -0.97 0.8025
2016-02-12 2015-12-31 13F MasterCard CL A 57636Q104 76,334 3,727 5.13 7,432 13.59 0.7799
2015-11-16 2015-09-30 13F MasterCard Inc. Cl A CL A 57636Q104 72,607 -9,980 -12.08 6,543 -15.25 0.6911
2015-08-14 2015-06-30 13F MasterCard CL A 57636Q104 82,587 3,573 4.52 7,720 13.10 0.7221
2015-05-15 2015-03-31 13F MasterCard CL A 57636Q104 79,014 313 0.40 6,826 0.66 0.6339
2015-02-17 2014-12-31 13F MasterCard CL A 57636Q104 78,701 -17,016 -17.78 6,781 -4.16 0.6662
2014-11-14 2014-09-30 13F MasterCard CL A 57636Q104 95,717 -6,903 -6.73 7,075 -6.15 0.6382
2014-08-13 2014-06-30 13F MasterCard CL A 57636Q104 102,620 -521 -0.51 7,539 -2.15 0.6399
2014-05-15 2014-03-31 13F MasterCard CL A 57636Q104 103,141 87,464 557.91 7,705 -41.17 0.6841
2014-02-14 2013-12-31 13F MasterCard CL A 57636Q104 15,677 -191 -1.20 13,098 22.69 1.1727
2013-11-14 2013-09-30 13F MasterCard CL A 57636Q104 15,868 1,467 10.19 10,676 29.05 0.9874
2013-08-14 2013-06-30 13F MasterCard CL A 57636Q104 14,401 14,401 8,273 0.7663
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.