Here’s Why Ave Maria Invested in Mastercard Incorporated (MA) Shares

Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -14.19% compared to -15.66% for MSCI All Country World Index. Poor performance of large global markets affected the fund’s performance. You can check the top 5 holdings of the fund to know its best picks in 2022.

Ave Maria discussed stocks like Mastercard Incorporated (NYSE:MA) in the second quarter investor letter. Headquartered in Purchase, New York, Mastercard Incorporated (NYSE:MA) is global technology and payments company. On August 24, 2022, Mastercard Incorporated (NYSE:MA) stock closed at $339.71 per share. One-month return of Mastercard Incorporated (NYSE:MA) was -3.61% and its shares lost 3.73% of their value over the last 52 weeks. Mastercard Incorporated (NYSE:MA) has a market capitalization of $328.288 billion.

Here is what Ave Maria specifically said about Mastercard Incorporated (NYSE:MA):

“Mastercard Incorporated (NYSE:MA) is a global technology company in the payments industry. Mastercard benefits from the secular migration away from cash to electronic payments and from the recovery in travel.”

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Mastercard Incorporated (NYSE:MA) is in 8th position on the list of 30 Most Popular Stocks Among Hedge Funds. Mastercard Incorporated (NYSE:MA) was held by 137 hedge fund portfolios at the end of the second quarter compared to 136 in the previous quarter.

We discussed Mastercard Incorporated (NYSE:MA) in another article and shared Mayar Capital’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.