Valley Forge Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 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 31.0% of the portfolio, followed by S&P Global (SPGI, 20.4%) and Mastercard Class A (MA, 18.4%). Compared with Q1 2025, it reduced 1. The biggest sale was Intuit (INTU, shares −11%).
- Most Recent 13F
- Q2 2026
- Notable People
- Dev Kantesaria
- Location
- MIAMI, FL
- CIK
- 0001697868
- Portfolio Value
- $4.5B (Q2 2025)
- SEC Filing
- 0001697868-25-000005 ↗ filed Aug 14, 2025
Holdings Value
Holdings 9 stocks · $4.5B
| FICO Fair Isaac Corp. | 31.03% | 768,422 | $1.4B | No change |
| SPGI S&P Global Inc. | 20.44% | 1,755,098 | $925.4M | No change |
| MA Mastercard Inc. Class A | 18.43% | 1,484,772 | $834.4M | No change |
| MCO Moody's Corp. | 14.56% | 1,314,144 | $659.2M | No change |
| V Visa Inc. Class A | 7.15% | 912,017 | $323.8M | No change |
| INTU Intuit Inc. | 4.58% | 263,312 | $207.4M | Reduce -11.4% |
| ASML ASML Holding NV-NY Reg SHS | 2.22% | 125,627 | $100.7M | No change |
| EFX Equifax Inc. | 0.82% | 144,000 | $37.3M | No change |
| MSCI MSCI Inc. | 0.76% | 59,700 | $34.4M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| INTU Intuit Inc. | Reduce -11.4% | 4.58% | +0.42 |
Portfolio Buys Q1 2025 → Q2 2025
| None this quarter. | |||
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 |