Mastercard Incorporated
US ˙ NYSE ˙ US57636Q1040

SecurityMA / Mastercard Incorporated
InstitutionSummit Trail Advisors, Llc
Latest Disclosed Ownership24,586 shares
Latest Disclosed Value $ 12,284,526
Summit Trail Advisors, Llc reports 0.74% increase in ownership of MA / Mastercard Incorporated

On May 12, 2026 - Summit Trail Advisors, Llc filed a 13F-HR form disclosing ownership of 24,586 shares of Mastercard Incorporated (US:MA) valued at $12,284,641 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 24,406 shares of Mastercard Incorporated. This represents a change in shares of 0.74% during the quarter. The current value of the position is $11,593,528 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)
2026-05-12 2026-03-31 13F MASTERCARD CL A 57636Q104 24,586 180 0.74 12,285 -11.83 0.1760
2026-02-17 2025-12-31 13F MASTERCARD CL A 57636Q104 24,406 -3,067 -11.16 13,933 -10.85 0.2409
2025-11-14 2025-09-30 13F MASTERCARD CL A 57636Q104 27,473 2,279 9.05 15,627 10.38 0.2158
2025-08-14 2025-06-30 13F MASTERCARD CL A 57636Q104 25,194 4,002 18.88 14,158 21.89 0.2430
2025-04-28 2025-03-31 13F MASTERCARD CL A 57636Q104 21,192 2,991 16.43 11,616 21.19 0.3832
2025-01-29 2024-12-31 13F MASTERCARD CL A 57636Q104 18,201 1,863 11.40 9,584 18.81 0.3537
2024-11-12 2024-09-30 13F MASTERCARD CL A 57636Q104 16,338 1,389 9.29 8,068 22.34 0.2000
2024-08-13 2024-06-30 13F Mastercard Inc CL A Com CL A 57636Q104 14,949 1,549 11.56 6,595 2.20 0.1733
2024-04-23 2024-03-31 13F MASTERCARD CL A 57636Q104 13,400 1,429 11.94 6,453 26.39 0.1715
2024-02-06 2023-12-31 13F MASTERCARD CL A 57636Q104 11,971 -395 -3.19 5,106 4.29 0.1689
2023-10-30 2023-09-30 13F MASTERCARD CL A 57636Q104 12,366 896 7.81 4,896 8.51 0.1801
2023-07-25 2023-06-30 13F MASTERCARD CL A 57636Q104 11,470 2,967 34.89 4,511 45.99 0.1702
2023-05-04 2023-03-31 13F MASTERCARD CL A 57636Q104 8,503 3,998 88.75 3,090 97.32 0.1245
2023-02-07 2022-12-31 13F Mastercard Inc CL A Com COM 57636Q104 4,505 -2,324 -34.03 1,567 -19.36 0.0696
2022-11-10 2022-09-30 13F Mastercard Inc CL A Com Stock 57636Q104 6,829 -2,383 -25.87 1,942 -33.17 0.1050
2022-08-09 2022-06-30 13F Mastercard Inc CL A Com COM 57636Q104 9,212 2,559 38.46 2,906 22.20 0.1797
2022-05-16 2022-03-31 13F Mastercard Inc CL A Com EQUITY 57636Q104 6,653 410 6.57 2,378 6.02 0.1923
2022-02-11 2021-12-31 13F Mastercard Inc CL A Com Equity 57636Q104 6,243 3,128 100.42 2,243 107.11 0.1446
2021-11-16 2021-09-30 13F Mastercard Inc CL A Com CL A 57636Q104 3,115 503 19.26 1,083 13.52 0.0813
2021-08-16 2021-06-30 13F Mastercard Inc CL A Com Equity 57636Q104 2,612 243 10.26 954 13.17 0.0836
2021-05-17 2021-03-31 13F MASTERCARD Equity 57636Q104 2,369 -51 -2.11 843 -2.43 0.0909
2021-02-16 2020-12-31 13F MASTERCARD Equity 57636Q104 2,420 -2,907 -54.57 864 -50.60 0.1089
2020-11-16 2020-09-30 13F/A-1 Mastercard Inc CL A Com Equity 57636Q104 5,327 2,950 124.11 1,749 148.79 0.3382
2020-08-13 2020-06-30 13F Mastercard Inc CL A Com Equity 57636Q104 2,377 -243 -9.27 703 11.06 0.1311
2020-05-15 2020-03-31 13F Mastercard Inc CL A Com Equity 57636Q104 2,620 1,910 269.01 633 198.58 0.1703
2020-02-13 2019-12-31 13F Newmont MNG Corp Com Equity 57636Q104 710 710 212 0.1229
2019-02-13 2018-12-31 13F MASTERCARD INCORPORATED CL A EQUITY 57636Q104 0 -8,286 -100.00 0 -100.00
2018-11-14 2018-09-30 13F MASTERCARD INCORPORATED CL A EQUITY 57636Q104 8,286 1,041 14.37 1,845 29.56 0.4071
2018-08-10 2018-06-30 13F Mastercard Inc CL A Com EQUITY 57636Q104 7,245 3,730 106.12 1,424 119.08 0.4979
2018-05-22 2018-03-31 13F/A-1 MASTERCARD INCORPORATED CL A EQUITY 57636Q104 3,515 147 4.36 650 16.70 0.1103
2018-05-21 2018-03-31 13F MASTERCARD INCORPORATED CL A EQUITY 57636Q104 650,381 647,013 650
2018-02-14 2017-12-31 13F MASTERCARD INCORPORATED CL A EQUITY 57636Q104 3,368 3,368 557 0.0703
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.