L1 Capital International, an investment management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned -10.1% net of fees in the second quarter compared to the benchmark return of -8.5%. Current macroeconomic issues and geopolitical situations affected the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
L1 Capital International discussed stocks like Mastercard Incorporated (NYSE:MA) in the second quarter investor letter. Mastercard Incorporated (NYSE:MA) is a financial technology company headquartered in Purchase, New York. On September 6, 2022, Mastercard Incorporated (NYSE:MA) stock closed at $324.08 per share. Mastercard Incorporated (NYSE:MA) had a return of -8.29% for the past month and its shares lost 7.68% of their value in the last 52 weeks. Mastercard Incorporated (NYSE:MA) has a market capitalization of $313.183 billion.
Here is what L1 Capital International specifically said about Mastercard Incorporated (NYSE:MA) in its Q2 2022 investor letter:
“Growth in electronic payments, the continued shift away from cash and cheques, and the provision of additional services such as fraud identification and prevention continue to power Mastercard Incorporated (NYSE:MA)’s growth (Figure 14). In person cross-border transactions are recovering alongside normalisation of travel.
Mastercard and Visa (we have invested in both) continue to dominate the electronic payments industry outside of China, utilising their own multi-faceted networks as well as Government and third-party payments infrastructure to facilitate transactions. Another perfect example of a ‘Noah’s Ark’ industry structure.
Regulation, technological disruption and disintermediation, and geopolitical constraints are perennial issues for consideration, but Mastercard (and Visa) management have repeatedly demonstrated their ability to manage these issues…” (Click here to read the full text)
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Mastercard Incorporated (NYSE:MA) is in 8th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 137 hedge fund portfolios held Mastercard Incorporated (NYSE:MA) at the end of the second quarter which was 136 in the previous quarter.
We discussed Mastercard Incorporated (NYSE:MA) in another article and shared Ave Maria’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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