Here’s Why You Should Consider Investing in Mastercard (MA)

Baron Funds, an investment management firm, released its “Baron FinTech Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. During the quarter concluding on September 30, 2023, Baron FinTech Fund® (Institutional Shares) experienced a 1.30% increase, contrasting with a 6.77% loss for the FactSet Global FinTech Index (the Benchmark). Since its inception on December 31, 2019, the Fund has achieved an annualized growth of 6.50%, surpassing the Benchmark, which declined by 2.22%. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.

In its Q3 2023 investor letter, Baron FinTech Fund mentioned Mastercard Incorporated (NYSE:MA) and explained its insights for the company. Mastercard Incorporated (NYSE:MA) is a Harrison, New York-based credit card company with a $369.8 billion market capitalization. Mastercard Incorporated (NYSE:MA) delivered a 13.42% return since the beginning of the year, while its 12-month returns are up by 16.21%. The stock closed at $394.38 per share on November 9, 2023.

Here is what Baron FinTech Fund has to say about Mastercard Incorporated (NYSE:MA) in its Q3 2023 investor letter:

“Performance in Payments was bolstered by gains from Mastercard Incorporated. Shares of global payment network Mastercard were up modestly after reporting a continuation of double-digit earnings growth and resilient payment volumes.”

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Our calculations show that Mastercard Incorporated (NYSE:MA) ranks 9th on our list of the 30 Most Popular Stocks Among Hedge Funds. Mastercard Incorporated (NYSE:MA) was in 139 hedge fund portfolios at the end of the second quarter of 2023, compared to 138 funds in the previous quarter. Mastercard Incorporated (NYSE:MA) delivered a -1.05% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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