Auxier Focus Fund on Mastercard
Thesis
Auxier sees Mastercard as a durable payment-network business positioned at the center of an increasingly digital economy. The company plays a critical role across a broad range of industries while requiring relatively little capital to operate. This structure supports strong margins and attractive returns on capital. Mastercard therefore fits the fund's preference for businesses with large moats, recurring economic relevance and capital-light models.
“Mastercard and Visa play a vital role across nearly every industry in an increasingly digital world.”