Valley Forge Capital Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Dev Kantesaria's Valley Forge Capital Management reported 9 stock positions worth $4.5 billion. Its top holding was Fair Isaac (FICO) at 34.4% of the portfolio, followed by S&P Global (SPGI, 19.3%) and Mastercard Class A (MA, 17.2%). Compared with Q3 2024, it opened 2 new positions, sold out of 1, added to 2 and reduced 2. The biggest buy was a new position in Equifax (EFX) and the biggest sale an exit from Aspen Technology (AZPN).
- Most Recent 13F
- Q2 2026
- Notable People
- Dev Kantesaria
- Location
- MIAMI, FL
- CIK
- 0001697868
- Portfolio Value
- $4.5B (Q4 2024)
- SEC Filing
- 0001697868-25-000001 ↗ filed Feb 14, 2025
Holdings Value
Holdings 9 stocks · $4.5B
| FICO Fair Isaac Corp. | 34.39% | 784,122 | $1.6B | Reduce -3.0% |
| SPGI S&P Global Inc. | 19.25% | 1,755,098 | $874.1M | Add +2.9% |
| MA Mastercard Inc. Class A | 17.22% | 1,484,772 | $781.8M | No change |
| MCO Moody's Corp. | 13.70% | 1,314,144 | $622.1M | Add +2.0% |
| V Visa Inc. Class A | 6.35% | 912,017 | $288.2M | No change |
| INTU Intuit Inc. | 5.57% | 402,281 | $252.8M | Reduce -9.6% |
| ASML ASML Holding NV-NY Reg SHS | 1.92% | 125,627 | $87.1M | No change |
| EFX Equifax Inc. | 0.81% | 144,000 | $36.7M | New |
| MSCI MSCI Inc. | 0.79% | 59,700 | $35.8M | New |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $3.1B | FICO, SPGI, MCO, MA, ASML |
| Q1 2026 | 7 | $3.4B | FICO, SPGI, MA, MCO, ASML |
| Q4 2025 | 9 | $4.4B | FICO, SPGI, MA, MCO, V |
| Q3 2025 | 9 | $4.2B | FICO, SPGI, MA, MCO, V |
| Q2 2025 | 9 | $4.5B | FICO, SPGI, MA, MCO, V |
| Q1 2025 | 9 | $4.4B | FICO, SPGI, MA, MCO, V |
| Q4 2024 | 9 | $4.5B | FICO, SPGI, MA, MCO, V |
| Q3 2024 | 8 | $4.5B | FICO, SPGI, MA, MCO, INTU |
| Q2 2024 | 8 | $3.9B | FICO, SPGI, MA, MCO, INTU |
| Q1 2024 | 8 | $3.7B | FICO, MA, SPGI, MCO, INTU |