Valley Forge Capital Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Dev Kantesaria's Valley Forge Capital Management reported 9 stock positions worth $4.4 billion. Its top holding was Fair Isaac (FICO) at 29.5% of the portfolio, followed by S&P Global (SPGI, 20.8%) and Mastercard Class A (MA, 19.2%). Compared with Q3 2025, it added to 8 and reduced 1. The biggest buy was Fair Isaac (FICO, shares +0%) and the biggest sale Intuit (INTU, shares −15%).
- Most Recent 13F
- Q2 2026
- Notable People
- Dev Kantesaria
- Location
- MIAMI, FL
- CIK
- 0001697868
- Portfolio Value
- $4.4B (Q4 2025)
- SEC Filing
- 0001697868-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 9 stocks · $4.4B
| FICO Fair Isaac Corp. | 29.49% | 769,424 | $1.3B | Add +0.1% |
| SPGI S&P Global Inc. | 20.83% | 1,758,179 | $918.8M | Add +0.2% |
| MA Mastercard Inc. Class A | 19.25% | 1,487,409 | $849.1M | Add +0.2% |
| MCO Moody's Corp. | 15.25% | 1,317,292 | $672.9M | Add +0.2% |
| V Visa Inc. Class A | 7.29% | 916,410 | $321.4M | Add +0.5% |
| INTU Intuit Inc. | 3.32% | 221,236 | $146.6M | Reduce -15.3% |
| ASML ASML Holding NV-NY Reg SHS | 3.06% | 126,242 | $135.1M | Add +0.5% |
| MSCI MSCI Inc. | 0.79% | 60,770 | $34.9M | Add +1.8% |
| EFX Equifax Inc. | 0.72% | 146,352 | $31.8M | Add +1.6% |
Portfolio Sells Q3 2025 → Q4 2025
| INTU Intuit Inc. | Reduce -15.3% | 3.32% | −0.97 |
Portfolio Buys Q3 2025 → Q4 2025
| FICO Fair Isaac Corp. | Add +0.1% | 29.49% | +1.82 |
| SPGI S&P Global Inc. | Add +0.2% | 20.83% | +0.28 |
| MCO Moody's Corp. | Add +0.2% | 15.25% | +0.19 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.5% | 3.06% | +0.14 |
| MSCI MSCI Inc. | Add +1.8% | 0.79% | −0.02 |
| EFX Equifax Inc. | Add +1.6% | 0.72% | −0.17 |
| V Visa Inc. Class A | Add +0.5% | 7.29% | −0.20 |
| MA Mastercard Inc. Class A | Add +0.2% | 19.25% | −1.07 |
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 |