Tom Russo’s Top 5 Holdings

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 138

Gardner Russo & Quinn’s Stake Value: $899,384,499

Mastercard Incorporated (NYSE:MA) is a financial technology company that provides transaction processing and other payment-related products and services. In the first quarter of 2023, Tom Russo had 2.4 million shares of Mastercard Incorporated (NYSE:MA) worth $899.3 million, representing 9.33% of the total 13F holdings. On June 26, the company declared a quarterly dividend of $0.57 per share, in line with previous. The dividend is payable on August 9, to shareholders of record on July 7. 

According to Insider Monkey’s first quarter database, 138 hedge funds were bullish on Mastercard Incorporated (NYSE:MA), compared to 139 funds in the prior quarter. Charles Akre’s Akre Capital Management is the largest stakeholder of the company, with 5.8 million shares worth $2.13 billion. 

LVS Advisory made the following comment about Mastercard Incorporated (NYSE:MA) in its second quarter 2023 investor letter:

“We have owned Mastercard Incorporated (NYSE:MA) on and off since inception. We re-initiated the position in summer 2022 during the broader market sell-off. The stock traded off to an attractive valuation and we believed the tailwinds from a reopening of international travel still had legs. This was a small portfolio position and the stock has appreciated in the year we have owned it. The stock’s valuation is once again rich and the tailwinds from international travel and consumer spending appear to be tapering. We sold the position because we believe other opportunities within our existing portfolio will generate superior returns.”