Current position

Terry Smith’s Mastercard (MA) position

Reported position history, portfolio importance and verified filing changes from public SEC disclosures.

Fundsmith LLPVerified through Q2 2026
Relationship snapshot

At a glance

The full verified relationship, including prior ownership episodes and exits where supported.

First reportedQ1 2023Earliest verified positive filing snapshot
Latest statusCurrent positionBased on the latest supported relationship state
Peak shares1.25MHighest verified quarter-end share count
Quarters reported11Verified quarters with shares above zero
What happened?

Fundsmith LLP first reported Mastercard in Q1 2023. After an earlier exit, the position later appeared again in a verified filing. The reported position was increased and reduced across later filings. Fundsmith LLP currently reports 1.25M shares. The latest verified filing showed: New position.

Verified SEC history

Position over time

See the same verified relationship through reported shares, portfolio weight or reported value.

Metric

Gaps indicate periods that cannot be safely connected or where a verified corporate action changes the raw share scale. Stock price, when available, is market context and not a transaction price.

Key filing events

What changed

Latest filing plus the most meaningful reported changes. Unchanged quarters are collapsed by default.

Q2 2026
New position+1.25M shares · 1.25M shares reported
Filing context

Quarter-end price $513.60 · Estimated holding basis $513.60

Q3 2025
Sold the entire position−27.66K shares · No shares reported at quarter-end
Q2 2025
Sold 44.1% of the position−21.79K shares · 27.66K shares remained
Filing context

Quarter-end price $561.94 · Estimated holding basis $376.82

Q1 2025
Sold 22.8% of the position−14.58K shares · 49.45K shares remained
Filing context

Quarter-end price $548.12 · Estimated holding basis $376.82

Q4 2024
Sold 1.5% of the position−957 shares · 64.03K shares remained
Filing context

Quarter-end price $526.57 · Estimated holding basis $376.82

Q3 2024
Bought 1.1% more+710 shares · 64.99K shares reported after the change
Filing context

Quarter-end price $493.80 · Estimated holding basis $376.82

Portfolio importance

How important is Mastercard in Fundsmith LLP’s reported portfolio?

Relative importance is measured only within the verified primary non-option reported portfolio for each quarter.

Current portfolio weight4.7%Q2 2026
Current rank#6of 41 reported positions
Peak portfolio weight4.7%Q2 2026
Best historical rank#6Q2 2026
At peak importanceQ2 2026
MA
4.7%
Largest holding
7.0%
Cross-investor discovery

Who else owns Mastercard?

Also reported by 8 other tracked investors in their latest verified filings.

Chuck AkreAkre Capital Management
MA20.0% of reported portfolio
Dev KantesariaValley Forge Capital Management
MA17.6% of reported portfolio
Guy SpierAquamarine Capital
MA14.3% of reported portfolio
Explore Mastercard across all tracked investors →
SEC evidence & methodology

SEC filing evidence

Market context and filing-derived values are kept separate from actual transaction prices, which 13F filings do not disclose.

Latest verified stock price$565.242026-09-18

Market context only; not an investor transaction price.

Latest filing quarter-end price$513.60Q2 2026

Derived from validated reported value and shares where supported.

Estimated holding basis$513.60Historical reference — not actual purchase price

Calculated from supported filing history.

Latest verified investor filingQ2 2026 · filed 2026-08-14
Open SEC filing ↗

View Mastercard stock page →

This tracker follows Fundsmith LLP’s reported positions. Form 13F reports quarter-end positions and is filed later; it does not disclose exact trade dates or execution prices.