Qualivian Investment Partners, an investment partnership focused on long-only public equities, released its Q3 2024 investor letter. A copy of the same can be downloaded here. The fund outperformed the iShares MSCI USA Quality Factor ETF (QUAL) by 38.6% and 33.2% on a gross and net basis since its inception through June 30, 2024. It also exceeded the S&P 500 by 14.8% and 9.4%, respectively, on a gross and net basis. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Qualivian Investment Partners highlighted stocks like Mastercard Incorporated (NYSE:MA), in the third quarter 2024 investor letter. Mastercard Incorporated (NYSE:MA) is a payment technology company. The one-month return of Mastercard Incorporated (NYSE:MA) was 1.41%, and its shares gained 24.64% of their value over the last 52 weeks. On December 13, 2024, Mastercard Incorporated (NYSE:MA) stock closed at $529.00 per share with a market capitalization of $485.53 billion.
Qualivian Investment Partners stated the following regarding Mastercard Incorporated (NYSE:MA) in its Q3 2024 investor letter:
“Mastercard Incorporated (NYSE:MA): Q2 2024 revenues and EPS beat consensus expectations, growing 11% (+13% on a constant currency, CC, basis) and 24% (+27% on a CC basis) respectively. Overall payments volume increased 9%, with highly profitable cross-border volumes growing 17%.
Management qualified their expectations for a solid FY2024 anchored around continued stable consumer spending, while noting there is uncertainty regarding the overall macroeconomic backdrop heading into the back half of 2024 and 2025. In the event of a weakening consumer, management noted they would adjust investment priorities as well as the company’s cost structure as appropriate if trends softened further.
We continue to expect that over the longer term, MA will continue to drive and benefit from the digitization of payments globally.”
A close-up of a credit card being swiped on a payment terminal, reflecting the company’s payments technology.
Mastercard Incorporated (NYSE:MA) is in 10th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 131 hedge fund portfolios held Mastercard Incorporated (NYSE:MA) at the end of the third quarter which was 142 in the previous quarter. Mastercard Incorporated’s (NYSE:MA) net revenue increased by 14% in the third quarter, indicating continued growth in its payment network and value-added services and solutions. While we acknowledge the potential of Mastercard Incorporated (NYSE:MA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Mastercard Incorporated (NYSE:MA) and shared the list of stocks most held by hedge funds. In addition, please check out our hedge fund investor letters Q3 2024 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.
