Valley Forge Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Dev Kantesaria's Valley Forge Capital Management reported 9 stock positions worth $4.2 billion. Its top holding was Fair Isaac (FICO) at 27.7% of the portfolio, followed by S&P Global (SPGI, 20.5%) and Mastercard Class A (MA, 20.3%). Compared with Q2 2025, it reduced 1. The biggest sale was Intuit (INTU, shares −1%).
- Most Recent 13F
- Q2 2026
- Notable People
- Dev Kantesaria
- Location
- MIAMI, FL
- CIK
- 0001697868
- Portfolio Value
- $4.2B (Q3 2025)
- SEC Filing
- 0001697868-25-000006 ↗ filed Nov 14, 2025
Holdings Value
Holdings 9 stocks · $4.2B
| FICO Fair Isaac Corp. | 27.66% | 768,422 | $1.1B | No change |
| SPGI S&P Global Inc. | 20.55% | 1,755,098 | $854.2M | No change |
| MA Mastercard Inc. Class A | 20.32% | 1,484,772 | $844.6M | No change |
| MCO Moody's Corp. | 15.06% | 1,314,144 | $626.2M | No change |
| V Visa Inc. Class A | 7.49% | 912,017 | $311.3M | No change |
| INTU Intuit Inc. | 4.29% | 261,097 | $178.3M | Reduce -0.8% |
| ASML ASML Holding NV-NY Reg SHS | 2.93% | 125,627 | $121.6M | No change |
| EFX Equifax Inc. | 0.89% | 144,000 | $36.9M | No change |
| MSCI MSCI Inc. | 0.81% | 59,700 | $33.9M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| INTU Intuit Inc. | Reduce -0.8% | 4.29% | −0.29 |
Portfolio Buys Q2 2025 → Q3 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 |