In This Article:
Alluvium Asset Management, an asset management company, released its “Conventum – Alluvium Global Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, The Fund was up 1.3% in EUR terms and 5.4% in AUD terms but down 5.9% in USD terms. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Conventum – Alluvium Global Fund emphasized stocks such as Mastercard Incorporated (NYSE:MA). Mastercard Incorporated (NYSE:MA) is a payment technology company that offers transaction processing and other payment-related products and services. The one-month return of Mastercard Incorporated (NYSE:MA) was -2.30%, and its shares gained 17.17% of their value over the last 52 weeks. On March 6, 2025, Mastercard Incorporated (NYSE:MA) stock closed at $549.82 per share with a market capitalization of $501.275 billion.
Conventum – Alluvium Global Fund stated the following regarding Mastercard Incorporated (NYSE:MA) in its Q4 2024 investor letter:
"Last quarter we wrote about the credit card companies and the Fund’s latest investment, Visa (up 15.2%). With its strong share price performance, that position had grown to be greater than 5%. As we had discussed here, we consider there to be negligible differences in investment merits when compared to Mastercard Incorporated (NYSE:MA) (up 6.8%). Whilst Visa appears a little cheaper on traditional price metrics, our view is that Mastercard has marginally higher growth prospects. Irrespective, both are deserving positions in the portfolio, and given their similarities, and the 5/10/40 rule, in order for us to maintain maximum portfolio flexibility it made sense to sell a little Visa and buy a little Mastercard, and their combined position is 6.2%."
A woman using a payment terminal at the checkout of a store showing payment products and solutions.
Mastercard Incorporated (NYSE:MA) is listed at the 11th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 151 hedge fund portfolios held Mastercard Incorporated (NYSE:MA) at the end of the fourth quarter which was 131 in the previous quarter. Mastercard Incorporated’s (NYSE:MA) fourth quarter saw a 16% increase in net revenues and a 19% increase in adjusted net income compared to the previous year on a non-GAAP currency-neutral basis. 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.