Institutional Manager · CIK 0001697868

Valley Forge Capital Management, LP

MIAMI, FL · File #028-17727

Latest AUM

$4.41B

Positions

Top-10 Concentration

100.0%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	INTUIT	INTU	-39,861	-$26.4M	-$5.3M
ADD	FAIR ISAAC CORP	FICO	+1,002	+$1.7M	+$149.1M
ADD	S&P GLOBAL INC	SPGI	+3,081	+$1.6M	+$63.0M
ADD	MOODYS CORP	MCO	+3,148	+$1.6M	+$45.2M
ADD	VISA INC	V	+4,393	+$1.5M	+$8.5M
ADD	MASTERCARD INCORPORATED	MA	+2,637	+$1.5M	+$3.1M
ADD	ASML HOLDING N V	ASMLF	+615	+$657,964	+$12.8M
ADD	MSCI INC	MSCI	+1,070	+$613,891	+$377,304
ADD	EQUIFAX INC	EFX	+2,352	+$510,337	-$5.7M

Sector Allocation

Financials

63.4%$2.80B

Technology

32.8%$1.45B

Industrials

0.7%$31.8M

Filing History

Feb 17, 202613F HOLDINGS REPORTQ/E Dec 20259 pos · $4.41B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 20259 pos · $4.16B
Aug 14, 202513F HOLDINGS REPORTQ/E Jun 20259 pos · $4.53B
May 15, 202513F HOLDINGS REPORTQ/E Mar 20259 pos · $4.39B
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 20249 pos · $4.54B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20248 pos · $4.50B
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 20248 pos · $3.87B
May 15, 202413F HOLDINGS REPORTQ/E Mar 20248 pos · $3.67B
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20238 pos · $2.93B

Top 9 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	FAIR ISAAC CORP	FICO	769,424	$1.30B	29.49%
2	S&P GLOBAL INC	SPGI	1,758,179	$918.8M	20.83%
3	MASTERCARD INCORPORATED	MA	1,487,409	$849.1M	19.25%
4	MOODYS CORP	MCO	1,317,292	$672.9M	15.25%
5	VISA INC	V	916,410	$321.4M	7.29%
6	INTUIT	INTU	221,236	$146.6M	3.32%
7	ASML HOLDING N V	ASMLF	126,242	$135.1M	3.06%
8	MSCI INC	MSCI	60,770	$34.9M	0.79%
9	EQUIFAX INC	EFX	146,352	$31.8M	0.72%