Several Reasons For the Outperformance of Mastercard Incorporated (MA) in Q4

Baron Funds, an investment management company, released its “Baron FinTech Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 4.98% (Institutional Shares) compared to a 7.56% gain for the S&P 500 benchmark index and a 3.91% return for the FactSet Global FinTech Index. Favorable stock selection in Information Services, Payments, and Capital Markets contributed to the gains of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron FinTech Fund highlighted stocks like Mastercard Incorporated (NYSE:MA) in the fourth quarter investor letter. Headquartered in Purchase, New York, Mastercard Incorporated (NYSE:MA) is a payment technology company. On February 17, 2023, Mastercard Incorporated (NYSE:MA) stock closed at $361.13 per share. One-month return of Mastercard Incorporated (NYSE:MA) was -4.03% and its shares lost 2.38% of their value over the last 52 weeks. Mastercard Incorporated (NYSE:MA) has a market capitalization of $344.245 billion.

Baron FinTech Fund made the following comment about Mastercard Incorporated (NYSE:MA) in its Q4 2022 investor letter:

“Shares of global payment network Mastercard Incorporated (NYSE:MA) increased after reporting strong quarterly results, with 15% revenue growth and 13% EPS growth despite significant headwinds from currency movements and the suspension of operations in Russia. Payment volume grew 21% in local currency (excluding Russia) as consumer spending remained resilient and the international travel recovery continued as border restrictions were lifted. We continue to own the stock due to Mastercard’s long runway for growth and significant competitive advantages.”

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Mastercard Incorporated (NYSE:MA) is in 7th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 146 hedge fund portfolios held Mastercard Incorporated (NYSE:MA) at the end of the third quarter, which was 137 in the previous quarter.

We discussed Mastercard Incorporated (NYSE:MA) in another article and shared RiverPark Large Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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