Baron Financials ETF noted in its Q2 2026 investor letter that global payments network company Visa (V) contributed to the fund's performance during the quarter, with strong financial results helping its stock price recover from the previous quarter's weakness. Visa's revenue grew 17% and earnings per share (EPS) increased 20% for the quarter, both exceeding market expectations. Payment transaction volumes remained resilient despite military conflicts in the Middle East. Management raised its full-year guidance, now expecting low double-digit revenue growth and mid-double-digit EPS growth. Regulatory concerns that previously weighed on the stock, such as the proposed 10% cap on credit card interest rates and unfavorable payment routing legislation, have stalled in the legislative process and subsequently receded. Baron Financials ETF stated that it will continue to hold Visa, favoring its long-term growth prospects and significant competitive advantages.