Visa Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 4,397 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Visa has a multi-class share structure. Class A common stock (CUSIP 92826C839) is the only class listed on the NYSE and carries full voting rights on all matters. Class B-1, B-2 and B-3 common stock are held by legacy Visa U.S.A. member banks (transfer-restricted, not publicly traded) and Class C common stock is held mainly by former Visa Europe member banks (also transfer-restricted). Class B and C shareholders have no general voting rights, only contingent votes in specified circumstances (a merger or consolidation, a decision to exit the core payments business, or certain charter amendments), in which case they vote on an as-converted basis. Source: FY2025 10-K, Note 11-Stockholders' Equity and Item 5.
• Class B and C shares convert to Class A at ratios that adjust over time as Visa recovers covered litigation losses through the U.S. and Europe retrospective responsibility plans. As of 30 Jun 2026: Class B-1 = 1.5445x, Class B-2 = 1.5014x, Class B-3 = 1.4953x, Class C = 4.0000x. On an as-converted-to-Class-A basis, total shares were approximately 1,880 million at 30 Jun 2026, versus 1,930 million at 30 Sep 2025, a larger decline than the raw share count implies because it also reflects ongoing Class A buybacks. Source: 10-Q for the quarter ended 30 Jun 2026, Note 11.
• In May 2026, Visa completed a Class B-1/B-2 exchange offer: it accepted 3,000,000 Class B-1 shares and 120,000,000 Class B-2 shares tendered by holders and retired them, issuing 61,000,000 new Class B-3 shares and 23,000,000 new Class C shares in exchange. This is why Class B-3 exists as a separate, newer series with its own conversion-rate sensitivity (4x the litigation-recovery impact of Class B-1/B-2 per share). Source: 10-Q for the quarter ended 30 Jun 2026, Note 11 and MD&A.
• company.shares_outstanding (1,784,428,534) is the sum of the five raw share-class counts on the 10-Q cover page as of 21 Jul 2026 (Class A 1,704,112,694; B-1 2,180,148; B-2 486,669; B-3 60,589,871; C 17,059,152), not an as-converted or fully diluted figure.
• The register mixes two vintages by design: individual insider holdings and the officer/director aggregate are proxy figures as of 1 Dec 2025 (all measured in Class A common stock only, since Class B/C are not individually attributable to named insiders in the proxy). None of the directors or named executive officers individually held more than 1% of Class A common stock outstanding as of that date, per the proxy's own disclosure, so pct_of_company is left null for the individual rows rather than guessed.
• The Vanguard Capital Management LLC register row (Schedule 13G, event date 31 Mar 2026, 7.35% of Class A) is the same institutional family already summed in the separate 13F-derived register at data/registers/V.json (which shows a combined Vanguard total of 162,042,915 shares across nine related CIKs as of 31 Mar 2026). It is included here only because it is the one Vanguard entity with a filed percent-of-class figure the 13F file does not carry; do not add its shares to the 13F Vanguard total.
• The BlackRock, State Street, Geode, FMR (Fidelity), Capital Group, Morgan Stanley, T. Rowe Price, TCI Fund Management, Bank of America, JPMorgan Chase and Temasek rows are all reused from the 13F-derived register at data/registers/V.json (period ended 31 Mar 2026), per the coordinator's direction that file is a legitimate source. Each row cites that holder's own Form 13F-HR information table on EDGAR rather than the aggregator file itself. These are institutional 13F rows, not proxy rows: they are never marked rolls_up_into the officer/director aggregate, since 13F filers are not directors or executive officers of Visa.
• Every 13F position reported on Visa is Class A common stock only (CUSIP 92826C839); Class B-1, B-2, B-3 and C are not exchange-traded and are not 13F-reportable, so none of the institutional rows carry any exposure to those classes. pct_of_company for the 13F rows is shares divided by this file's company.shares_outstanding (1,784,428,534 across all classes), the same denominator used for the Berkshire-style cross-checks in this project's other register files; because the denominator includes non-Class-A shares while the numerator is Class-A-only, these percentages read slightly lower than a percent-of-Class-A-only figure would (e.g. BlackRock is 7.63% of total company shares here versus roughly 7.99% of Class A alone).
• Bank of America Corp and JPMorgan Chase & Co are flagged holder_type strategic rather than active or index: both were among Visa U.S.A.'s original member banks and, separately from the Class A position shown here (which is an asset-management/trading book holding reported on Form 13F), their banking-group affiliates are understood to hold some of the transfer-restricted Class B common stock issued to legacy member banks. No filing found breaks out which entity within either banking group holds Class B shares or how many, so only the sourced Class A 13F figure is shown; the Class B linkage is noted, not sized.
• TCI Fund Management Ltd (The Children's Investment Fund Management, a London-based concentrated activist manager) is flagged holder_type active rather than index because, unlike Vanguard, BlackRock, State Street, Geode or Fidelity, its Visa position is a concentrated, actively chosen stake rather than index-tracking client assets; it is large enough (1.7% of the company, 9th largest 13F filer on Visa) to be strategically relevant.
• Temasek Holdings (Private) Ltd, Singapore's state investment company, is included at holder_type sovereign even though its stake (0.37% of the company) falls outside the top 8 to 12 by size, per the brief's instruction to include strategic or sovereign holders at any size.
• No individual, family or non-bank strategic holder controls a large block of Visa. Ownership of the transfer-restricted Class B and C stock is dispersed across many thousands of Visa U.S.A. and former Visa Europe member banks and is not disclosed per-holder in any filing found, so it cannot be listed as named register rows.
• Visa's 10-K/10-Q equity investments (marketable equity securities carrying value $142 million at FY2025 year end; non-marketable, mostly private-company equity securities carrying value $1,078 million as of 30 Jun 2026) are disclosed only in aggregate, with no individual investee company named or sized in the filings reviewed. Featurespace, Pismo, Currencycloud, Tink, YellowPepper and Earthport are wholly owned acquisitions (operating subsidiaries), not equity stakes, and are excluded from holdings per the brief.