V
LONGINSIDER SELLCONGRESS BUYCONGRESS SELLVISA INC
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NeutralVisa delivered strong earnings beats in Q2 and Q3 2026 with revenue growth of 14–17% YoY and raised full-year guidance, while value-added services surged 33–34% and payments volume exceeded $4 trillion for the first time. However, the company faces material headwinds: a 7% workforce reduction ($563M severance charge), 19% GAAP operating expense growth outpacing revenue, 18% client incentive increases pressuring margins, ongoing DOJ antitrust litigation with fact discovery closing October 2026, and bipartisan legislative risk from the Credit Card Competition Act.
Red flags
- •Operating expenses rose 19% in Q3 vs. 14% revenue growth — margin compression risk
- •Client incentives increased 18% as ~20% of payments volume faces renewal negotiations
- •DOJ antitrust lawsuit ongoing; fact discovery closes October 16, 2026 with potential 2027 trial
- •Credit Card Competition Act reintroduced January 2026 — bipartisan legislative threat to core business model
- •7% workforce reduction (2,600 jobs) and $563M severance charge — execution risk on AI/stablecoin pivots
- •Stock sell-off 1–2% immediately post-earnings despite beat — elevated valuation and margin concerns overpower upside
Funds Buying (8)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| TCI Fund Management | Chris Hohn | 30.5M | +30.5M | $9.2B | 20.4% | — | NEW |
| Viking Global | Andreas Halvorsen | 6.3M | +2.3M | $1.9B | 5.3% | +59% | Existing |
| ValueAct Holdings | Mason Morfit | 2.3M | +598K | $700M | 12.3% | +35% | Existing |
| Maverick Capital | Lee Ainslie | 807K | +30K | $244M | 2.8% | +4% | Existing |
| Point72 | Steve Cohen | 759K | +759K | $229M | 0.4% | — | NEW |
| Coatue Management | Philippe Laffont | 719K | +719K | $217M | 0.7% | — | NEW |
| Baupost Group | Seth Klarman | 701K | +701K | $212M | 4.1% | — | NEW |
| Lone Pine Capital | Steve Mandel | 93K | +78K | $28M | 0.2% | +510% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where V ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #1 of this fund's book
- 1VISA INC$700M
- 2AMAZON COM INC$601M
- 3SALESFORCE INC$559M
- 4BLACKROCK INC$525M
position #1 of this fund's book
- 1VISA INC$1,913M
- 2TAIWAN SEMICONDUCTOR MANUFAC$1,509M
- 3SCHWAB CHARLES CORP$1,378M
- 4DISNEY WALT CO$1,282M
position #2 of this fund's book
- 1GE AEROSPACE$13,482M
- 2VISA INC$9,209M
- 3MOODYS CORP$6,253M
- 4S&P GLOBAL INC$5,970M
- 5CANADIAN PACIFIC KANSAS CITY$3,660M
position #10 of this fund's book
- 7FERGUSON ENTERPRISES INC$336M
- 8WILLIS TOWERS WATSON PLC LTD$260M
- 9AON PLC$248M
- 10VISA INC$212M
- 11TELEFLEX INCORPORATED$191M
- 12EAGLE MATLS INC$169M
- 13GENUINE PARTS CO$158M
position #13 of this fund's book
- 10ARGAN INC$253M
- 11ALPHABET INC$250M
- 12BIO-TECHNE CORP$248M
- 13VISA INC$244M
- 14NATERA INC$234M
- 15CAPITAL ONE FINL CORP$228M
- 16LINDE PLC$211M
position #26 of this fund's book
- 23SYNOPSYS INC$302M
- 24FIRST CTZNS BANCSHARES INC D$263M
- 25VERTIV HOLDINGS CO$246M
- 26VISA INC$217M
- 27CARVANA CO$214M
- 28CHIME FINL INC$189M
- 29MASTEC INC$188M
position #32 of this fund's book
- 29SPOTIFY TECHNOLOGY S A$33M
- 30MASTERCARD INCORPORATED$29M
- 31AMPHENOL CORP$28M
- 32VISA INC$28M
- 33HILTON WORLDWIDE HLDGS INC$27M
- 34KKR & CO INC$17M
- 35BOOKING HOLDINGS INC$10M
position #39 of this fund's book
- 36MORGAN STANLEY$238M
- 37ROSS STORES INC$238M
- 38BOSTON SCIENTIFIC CORP$231M
- 39VISA INC$229M
- 40OKTA INC$218M
Values are quarter-end position sizes. Shown only for funds where V ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 6 | 8.15 | +4.7% |
| Q1 2026 | LONG | 8 | 11.74 | +1.3% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| MAHON TULLIER KELLY | VICE CHAIR, CHF PPL & CORP AFF | SELL | 37K | $365.05 | $13.61M | 2026-07-30 | ↗ |
| MAHON TULLIER KELLY | VICE CHAIR, CHF PPL & CORP AFF | SELL | 20K | $364.81 | $7.29M | 2026-07-30 | ↗ |
| ROTTENBERG JULIE B | GENERAL COUNSEL | SELL | 2K | $360.00 | $0.73M | 2026-07-02 | ↗ |
| MCINERNEY RYAN | Chief Executive Officer | SELL | 9K | $343.88 | $3.04M | 2026-07-01 | ↗ |
| MCINERNEY RYAN | Chief Executive Officer | SELL | 2K | $344.55 | $0.56M | 2026-07-01 | ↗ |
| MCINERNEY RYAN | Chief Executive Officer | SELL | 21K | $340.25 | $7.13M | 2026-06-29 | ↗ |
| Suh Chris | CHIEF FINANCIAL OFFICER | SELL | 11K | $324.81 | $3.46M | 2026-05-12 | ↗ |
| MCINERNEY RYAN | Chief Executive Officer | SELL | 31K | $340.14 | $10.70M | 2026-04-29 | ↗ |
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Alan Armstrong | senate | — | BUY | $15,001 - $50,000 | 2026-03-27 | 2026-07-21 | ↗ |
| Thomas H Tuberville | senate | — | SELL | $1,001 - $15,000 | 2024-05-03 | 2026-08-05 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.