Here’s Why LVS Advisory Exited Mastercard Incorporated (MA)

LVS Advisory, a New York City-based full-service investment firm, recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 2.5% (net of all fees and expenses) for the six months ended 2023 compared to a 5.1% gain for its benchmark High-Yield Bond Index. On the other hand, its Growth Portfolio gained 10.7% year to date compared to 16.9% for its benchmark, S&P 500 Total Return Index. For more information on the fund’s top picks in 2023, please check its top five holdings.

LVS Advisory highlighted stocks like Mastercard Incorporated (NYSE:MA) in the second quarter 2023 investor letter. Headquartered in Purchase, New York, Mastercard Incorporated (NYSE:MA) is a payment technology company. On July 18, 2023, Mastercard Incorporated (NYSE:MA) stock closed at $398.16 per share. One-month return of Mastercard Incorporated (NYSE:MA) was 5.85%, and its shares gained 16.67% of their value over the last 52 weeks. Mastercard Incorporated (NYSE:MA) has a market capitalization of $377.308 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.”

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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, 138 hedge fund portfolios held Mastercard Incorporated (NYSE:MA) at the end of the first quarter which was 139 in the previous quarter.

We discussed Mastercard Incorporated (NYSE:MA) in another article and shared the list of Warren Buffett’s longest held stocks. In addition, please check out our hedge fund investor letters Q2 2023 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.