Valley Forge Capital Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Dev Kantesaria's Valley Forge Capital Management reported 7 stock positions worth $3.4 billion. Its top holding was Fair Isaac (FICO) at 24.3% of the portfolio, followed by S&P Global (SPGI, 22.2%) and Mastercard Class A (MA, 22.0%). Compared with Q4 2025, it sold out of 2, added to 2 and reduced 5. The biggest buy was ASML Holding NV-NY Reg SHS (ASML, shares +36%) and the biggest sale Fair Isaac (FICO, shares −0%).

Most Recent 13F
Q2 2026
Notable People
Dev Kantesaria
Location
MIAMI, FL
CIK
0001697868
Portfolio Value
$3.4B (Q1 2026)
SEC Filing
0001697868-26-000003 ↗ filed May 15, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $3.7B Q1 2024 Q2 2024: $3.9B Q2 2024 Q3 2024: $4.5B Q3 2024 Q4 2024: $4.5B Q4 2024 Q1 2025: $4.4B Q1 2025 Q2 2025: $4.5B Q2 2025 Q3 2025: $4.2B Q3 2025 Q4 2025: $4.4B Q4 2025 Q1 2026: $3.4B $3.4B Q1 2026 Q2 2026: $3.1B Q2 2026

Holdings 7 stocks · $3.4B
FICO Fair Isaac Corp. 24.33% 769,342 $821.3M Reduce -0.0%
SPGI S&P Global Inc. 22.15% 1,758,074 $747.8M Reduce -0.0%
MA Mastercard Inc. Class A 22.02% 1,487,496 $743.2M Add +0.0%
MCO Moody's Corp. 17.02% 1,317,188 $574.6M Reduce -0.0%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 6.69% 171,083 $226.0M Add +35.5%
V Visa Inc. Class A 5.36% 598,753 $181.0M Reduce -34.7%
INTU Intuit Inc. 2.42% 189,072 $81.8M Reduce -14.5%

Portfolio Sells Q4 2025 → Q1 2026
FICO Fair Isaac Corp. Reduce -0.0% 24.33% −5.16
V Visa Inc. Class A Reduce -34.7% 5.36% −1.92
INTU Intuit Inc. Reduce -14.5% 2.42% −0.90
MSCI MSCI Inc. Sold out 0.00% −0.79
EFX Equifax Inc. Sold out 0.00% −0.72
SPGI S&P Global Inc. Reduce -0.0% 22.15% +1.32
MCO Moody's Corp. Reduce -0.0% 17.02% +1.77

Portfolio Buys Q4 2025 → Q1 2026
ASML ASML Holding NV-NY Reg SHS Add +35.5% 6.69% +3.63
MA Mastercard Inc. Class A Add +0.0% 22.02% +2.77

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 7$3.1BFICO, SPGI, MCO, MA, ASML
Q1 2026 7$3.4BFICO, SPGI, MA, MCO, ASML
Q4 2025 9$4.4BFICO, SPGI, MA, MCO, V
Q3 2025 9$4.2BFICO, SPGI, MA, MCO, V
Q2 2025 9$4.5BFICO, SPGI, MA, MCO, V
Q1 2025 9$4.4BFICO, SPGI, MA, MCO, V
Q4 2024 9$4.5BFICO, SPGI, MA, MCO, V
Q3 2024 8$4.5BFICO, SPGI, MA, MCO, INTU
Q2 2024 8$3.9BFICO, SPGI, MA, MCO, INTU
Q1 2024 8$3.7BFICO, MA, SPGI, MCO, INTU