Valley Forge Capital Management, LP 13F Filing History & Holdings

CIK: 0001697868

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$3.4B

Reporting period: 2026-03-31 · Number of holdings: 7

Valley Forge Capital Management, LP disclosed 7 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.4B and a quarterly turnover rate of 31.3%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "V"

Personality snowflake

Concentration: 77.47
Portfolio Stability: 31.27
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 14
Sizing Uniformity: 93.56

Valley Forge Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.194 — mathematically equivalent to about 5 equally-sized positions, close to its 7 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.64), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 11.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.

Recent moves

Trim FICO
-0.0%　-$479.5M
Add ASML
+35.5%　$90.9M
Add MA
+0.0%　-$105.9M
Trim V
-34.7%　-$140.4M
Add MCO
-0.0%　-$98.3M
Add SPGI
-0.0%　-$171.0M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	FICO	Fair Isaac CORP	Stock-Tech	24.33%	-5.16%	-0.01%
2	SPGI	S&p Global INC	Stock-Financials	22.15%	+1.32%	-0.01%
3	MA	Mastercard INC - A	Stock-Financials	22.02%	+2.77%	+0.01%
4	MCO	Moody's CORP	Stock-Financials	17.02%	+1.77%	-0.01%
5	ASML	ASML Holding N.V.	Stock-Tech	6.69%	+3.63%	+35.52%
6	V	Visa Inc-class A Shares	Stock-Financials	5.36%	-1.93%	-34.66%
7	INTU	Intuit INC	Stock-Tech	2.42%	-0.90%	-14.54%

Portfolio Performance

Performance for Q3 2026

+9.6%

Performance Last 4 Quarters

-3.7%

Based on 76% of reported portfolio value with available pricing

Stdev: +16.1%
Beta: +0.76
Alpha: -1.5%
Max Drawdown: -15.2%
Annualized Perf: +11.8%
Batting Avg vs S&P: +41.7%
Sortino: +1.43
Stutzer: +0.23
Treynor: +0.16
Sterling: +0.59
Calmar: +0.78
Information Ratio: -0.46
Tracking Error: +13.1%
Stdev Down: +8.7%
Winning Months %: +61.1%
Losing Months %: +38.9%
Best 12 Months: +35.4%
Worst 12 Months: -10.9%
Efficiency Ratio: +0.3
Sharpe: +0.77
Stdev Sectors: +16.6%
Skewness: +0.48
Kurtosis: +0.75
Upside Potential: +3.21

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	7	$3.4B	31	1FICO 2SPGI 3MA Top holdings2026-03-31 1.FICO 2.SPGI 3.MA 4.MCO 5.ASML 6.V 7.INTU
2025-12-31	9	$4.4B	8	1FICO 2SPGI 3MA Top holdings2025-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.MSCI 9.EFX
2025-09-30	9	$4.2B	9	1FICO 2SPGI 3MA Top holdings2025-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2025-06-30	9	$4.5B	0	1FICO 2SPGI 3MA Top holdings2025-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2025-03-31	9	$4.4B	100	1FICO 2SPGI 3MA Top holdings2025-03-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2024-12-31	9	$4.5B	0	1FICO 2SPGI 3MA Top holdings2024-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2024-09-30	8	$4.5B	0	1FICO 2SPGI 3MA Top holdings2024-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.ASML 8.AZPN1USD
2024-06-30	8	$3.9B	0	1FICO 2SPGI 3MA Top holdings2024-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.ASML 8.AZPN1USD
2024-03-31	8	$3.7B	0	1FICO 2MA 3SPGI Top holdings2024-03-31 1.FICO 2.MA 3.SPGI 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-12-31	8	$3.5B	0	1FICO 2SPGI 3MA Top holdings2023-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-09-30	8	$2.9B	0	1FICO 2SPGI 3MA Top holdings2023-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-06-30	8	$3.0B	0	1FICO 2SPGI 3MA Top holdings2023-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.AZPN1USD 8.ASML
2023-03-31	9	$2.6B	0	1FICO 2MA 3SPGI Top holdings2023-03-31 1.FICO 2.MA 3.SPGI 4.MCO 5.V 6.INTU 7.ADBE 8.ADSK 9.AZPN1USD
2022-12-31	10	$2.5B	0	1FICO 2MA 3SPGI Top holdings2022-12-31 1.FICO 2.MA 3.SPGI 4.MCO 5.V 6.AMZN 7.ADBE 8.INTU 9.ADSK 10.AZPN1USD
2022-09-30	10	$2.1B	0	1MA 2FICO 3SPGI Top holdings2022-09-30 1.MA 2.FICO 3.SPGI 4.MCO 5.AMZN 6.V 7.INTU 8.ADBE 9.ADSK 10.AZPN1USD
2022-06-30	10	$2.2B	0	1MA 2SPGI 3FICO Top holdings2022-06-30 1.MA 2.SPGI 3.FICO 4.MCO 5.V 6.AMZN 7.ADBE 8.INTU 9.ADSK 10.AZPN1USD
2022-03-31	10	$2.6B	0	1MA 2SPGI 3FICO Top holdings2022-03-31 1.MA 2.SPGI 3.FICO 4.MCO 5.AMZN 6.V 7.ADBE 8.INTU 9.AZPNUSD 10.ADSK
2021-12-31	9	$2.6B	0	1SPGI 2MA 3MCO Top holdings2021-12-31 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.ADBE 8.INTU 9.ADSK
2021-09-30	9	$2.5B	0	1SPGI 2MA 3MCO Top holdings2021-09-30 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.INTU 8.ADBE 9.ADSK
2021-06-30	9	$2.6B	24	1SPGI 2MA 3MCO Top holdings2021-06-30 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.ADBE 8.INTU 9.ADSK
2021-03-31	10	$2.1B	65	1MA 2SPGI 3MCO Top holdings2021-03-31 1.MA 2.SPGI 3.MCO 4.FICO 5.V 6.ADBE 7.INTU 8.ADSK 9.AZPNUSD 10.AMZN
2020-12-31	10	$1.1B	19	1MA 2SPGI 3FICO Top holdings2020-12-31 1.MA 2.SPGI 3.FICO 4.MCO 5.V 6.INTU 7.ADSK 8.ADBE 9.AZPNUSD 10.AMZN
2020-09-30	10	$921.6M	12	1SPGI 2MCO 3MA Top holdings2020-09-30 1.SPGI 2.MCO 3.MA 4.FICO 5.V 6.INTU 7.ADBE 8.ADSK 9.AZPNUSD 10.AMZN
2020-06-30	10	$822.7M	54	1SPGI 2MCO 3FICO Top holdings2020-06-30 1.SPGI 2.MCO 3.FICO 4.MA 5.V 6.INTU 7.ADSK 8.ADBE 9.AZPNUSD 10.AMZN
2020-03-31	9	$472.2M	16	1SPGI 2FICO 3MCO Top holdings2020-03-31 1.SPGI 2.FICO 3.MCO 4.V 5.MA 6.INTU 7.ADSK 8.AZPNUSD 9.AMZN
2019-12-31	9	$514.5M	14	1FICO 2SPGI 3MCO Top holdings2019-12-31 1.FICO 2.SPGI 3.MCO 4.V 5.MA 6.INTU 7.ADSK 8.AZPNUSD 9.AMZN
2019-09-30	9	$448.1M	8	1SPGI 2FICO 3MCO Top holdings2019-09-30 1.SPGI 2.FICO 3.MCO 4.V 5.INTU 6.MA 7.ADSK 8.AZPNUSD 9.AMZN
2019-06-30	9	$421.8M	11	1FICO 2SPGI 3MCO Top holdings2019-06-30 1.FICO 2.SPGI 3.MCO 4.V 5.INTU 6.ADSK 7.MA 8.AZPNUSD 9.AMZN
2019-03-31	9	$377.8M	52	1FICO 2SPGI 3MCO Top holdings2019-03-31 1.FICO 2.SPGI 3.MCO 4.V 5.INTU 6.ADSK 7.MA 8.AZPNUSD 9.AMZN
2018-12-31	10	$264.3M	16	1SPGI 2FICO 3MCO Top holdings2018-12-31 1.SPGI 2.FICO 3.MCO 4.MNST 5.INTU 6.ADSK 7.V 8.MA 9.AZPNUSD 10.AMZN
2018-09-30	11	$300.5M	16	1FICO 2SPGI 3MCO Top holdings2018-09-30 1.FICO 2.SPGI 3.MCO 4.MNST 5.INTU 6.V 7.ADSK 8.MA 9.META 10.AZPNUSD
2018-06-30	10	$257.2M	46	1FICO 2SPGI 3MCO Top holdings2018-06-30 1.FICO 2.SPGI 3.MCO 4.MNST 5.INTU 6.V 7.MA 8.META 9.AZPNUSD 10.AMZN
2018-03-31	9	$213.6M	12	1SPGI 2MCO 3MNST Top holdings2018-03-31 1.SPGI 2.MCO 3.MNST 4.EFX 5.INTU 6.V 7.MA 8.META 9.AZPNUSD
2017-12-31	8	$189.4M	18	1MCO 2SPGI 3MNST Top holdings2017-12-31 1.MCO 2.SPGI 3.MNST 4.EFX 5.V 6.INTU 7.MA 8.AZPNUSD
2017-09-30	8	$157.8M	21	1MCO 2SPGI 3MNST Top holdings2017-09-30 1.MCO 2.SPGI 3.MNST 4.EFX 5.V 6.INTU 7.MA 8.AZPNUSD
2017-06-30	8	$140.6M	9	1MCO 2SPGI 3MNST Top holdings2017-06-30 1.MCO 2.SPGI 3.MNST 4.INTU 5.V 6.NKE 7.MA 8.AZPNUSD
2017-03-31	8	$128.5M	16	1MCO 2SPGI 3MNST Top holdings2017-03-31 1.MCO 2.SPGI 3.MNST 4.V 5.NKE 6.INTU 7.MA 8.AZPNUSD
2016-12-31	8	$109.6M	0	1MCO 2SPGI 3MNST Top holdings2016-12-31 1.MCO 2.SPGI 3.MNST 4.INTU 5.V 6.NKE 7.MA 8.AZPNUSD

Holding changes this quarter

Valley Forge Capital Management, LP's most significant position changes for 2026-03-31: Sold out: Msci INC (MSCI); Sold out: Equifax INC (EFX); Trim: Fair Isaac CORP (FICO) — shares -0.01%; Add: ASML Holding N.V. (ASML) — shares +35.52%; Add: Mastercard INC - A (MA) — shares +0.01%.

Position changes disclosed by Valley Forge Capital Management, LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ASML	ASML Holding N.V.	+3.6%	+35.52%	Add
2	MA	Mastercard INC - A	+2.8%	+0.01%	Add
3	MCO	Moody's CORP	+1.8%	-0.01%	Trim
4	SPGI	S&p Global INC	+1.3%	-0.01%	Trim
5	INTU	Intuit INC	-0.9%	-14.54%	Trim
6	V	Visa Inc-class A Shares	-1.9%	-34.66%	Trim
7	FICO	Fair Isaac CORP	-5.2%	-0.01%	Trim
8	MSCI	Msci INC	—	EXIT	Sold out
9	EFX	Equifax INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-17	13F-HR	View on EDGAR
2020-12-31	2021-02-16	13F-HR	View on EDGAR
2020-09-30	2020-11-16	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-14	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-14	13F-HR	View on EDGAR
2017-06-30	2017-08-14	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR

FAQ

What is Valley Forge Capital Management, LP and what type of investor is it?

Valley Forge Capital Management, LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $3.4B, spread across 7 disclosed positions.

What are Valley Forge Capital Management, LP's largest equity positions?

Based on the latest 13F filing, Valley Forge Capital Management, LP's top holdings by market value are: 1. Fair Isaac CORP (FICO) — $821.3M (24.3%) 2. S&p Global INC (SPGI) — $747.8M (22.1%) 3. Mastercard INC - A (MA) — $743.2M (22.0%) 4. Moody's CORP (MCO) — $574.6M (17.0%) 5. ASML Holding N.V. (ASML) — $226.0M (6.7%)

What changes did Valley Forge Capital Management, LP make in its most recent portfolio filing?

In the latest reported quarter, Valley Forge Capital Management, LP made 9 notable position adjustments: 0 new positions were initiated, 2 existing holdings were added to, 5 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Msci INC (MSCI); Sold out: Equifax INC (EFX); Trim: Fair Isaac CORP (FICO) — shares -0.01%; Add: ASML Holding N.V. (ASML) — shares +35.52%; Add: Mastercard INC - A (MA) — shares +0.01%

What sectors does Valley Forge Capital Management, LP focus on?

Valley Forge Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 66.5% • Information Technology: 33.5%

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Valley Forge Capital Management, LP 13F Filing History & Holdings

CIK: 0001697868

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$3.4B

Reporting period: 2026-03-31 · Number of holdings: 7

Valley Forge Capital Management, LP disclosed 7 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.4B and a quarterly turnover rate of 31.3%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "V"

Personality snowflake

Concentration: 77.47
Portfolio Stability: 31.27
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 14
Sizing Uniformity: 93.56

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.64), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

Recent moves

Trim FICO
-0.0%　-$479.5M
Add ASML
+35.5%　$90.9M
Add MA
+0.0%　-$105.9M
Trim V
-34.7%　-$140.4M
Add MCO
-0.0%　-$98.3M
Add SPGI
-0.0%　-$171.0M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	FICO	Fair Isaac CORP	Stock-Tech	24.33%	-5.16%	-0.01%
2	SPGI	S&p Global INC	Stock-Financials	22.15%	+1.32%	-0.01%
3	MA	Mastercard INC - A	Stock-Financials	22.02%	+2.77%	+0.01%
4	MCO	Moody's CORP	Stock-Financials	17.02%	+1.77%	-0.01%
5	ASML	ASML Holding N.V.	Stock-Tech	6.69%	+3.63%	+35.52%
6	V	Visa Inc-class A Shares	Stock-Financials	5.36%	-1.93%	-34.66%
7	INTU	Intuit INC	Stock-Tech	2.42%	-0.90%	-14.54%

Portfolio Performance

Performance for Q3 2026

+9.6%

Performance Last 4 Quarters

-3.7%

Based on 76% of reported portfolio value with available pricing

Stdev: +16.1%
Beta: +0.76
Alpha: -1.5%
Max Drawdown: -15.2%
Annualized Perf: +11.8%
Batting Avg vs S&P: +41.7%
Sortino: +1.43
Stutzer: +0.23
Treynor: +0.16
Sterling: +0.59
Calmar: +0.78
Information Ratio: -0.46
Tracking Error: +13.1%
Stdev Down: +8.7%
Winning Months %: +61.1%
Losing Months %: +38.9%
Best 12 Months: +35.4%
Worst 12 Months: -10.9%
Efficiency Ratio: +0.3
Sharpe: +0.77
Stdev Sectors: +16.6%
Skewness: +0.48
Kurtosis: +0.75
Upside Potential: +3.21

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	7	$3.4B	31	1FICO 2SPGI 3MA Top holdings2026-03-31 1.FICO 2.SPGI 3.MA 4.MCO 5.ASML 6.V 7.INTU
2025-12-31	9	$4.4B	8	1FICO 2SPGI 3MA Top holdings2025-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.MSCI 9.EFX
2025-09-30	9	$4.2B	9	1FICO 2SPGI 3MA Top holdings2025-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2025-06-30	9	$4.5B	0	1FICO 2SPGI 3MA Top holdings2025-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2025-03-31	9	$4.4B	100	1FICO 2SPGI 3MA Top holdings2025-03-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2024-12-31	9	$4.5B	0	1FICO 2SPGI 3MA Top holdings2024-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.ASML 8.EFX 9.MSCI
2024-09-30	8	$4.5B	0	1FICO 2SPGI 3MA Top holdings2024-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.ASML 8.AZPN1USD
2024-06-30	8	$3.9B	0	1FICO 2SPGI 3MA Top holdings2024-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.ASML 8.AZPN1USD
2024-03-31	8	$3.7B	0	1FICO 2MA 3SPGI Top holdings2024-03-31 1.FICO 2.MA 3.SPGI 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-12-31	8	$3.5B	0	1FICO 2SPGI 3MA Top holdings2023-12-31 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-09-30	8	$2.9B	0	1FICO 2SPGI 3MA Top holdings2023-09-30 1.FICO 2.SPGI 3.MA 4.MCO 5.INTU 6.V 7.AZPN1USD 8.ASML
2023-06-30	8	$3.0B	0	1FICO 2SPGI 3MA Top holdings2023-06-30 1.FICO 2.SPGI 3.MA 4.MCO 5.V 6.INTU 7.AZPN1USD 8.ASML
2023-03-31	9	$2.6B	0	1FICO 2MA 3SPGI Top holdings2023-03-31 1.FICO 2.MA 3.SPGI 4.MCO 5.V 6.INTU 7.ADBE 8.ADSK 9.AZPN1USD
2022-12-31	10	$2.5B	0	1FICO 2MA 3SPGI Top holdings2022-12-31 1.FICO 2.MA 3.SPGI 4.MCO 5.V 6.AMZN 7.ADBE 8.INTU 9.ADSK 10.AZPN1USD
2022-09-30	10	$2.1B	0	1MA 2FICO 3SPGI Top holdings2022-09-30 1.MA 2.FICO 3.SPGI 4.MCO 5.AMZN 6.V 7.INTU 8.ADBE 9.ADSK 10.AZPN1USD
2022-06-30	10	$2.2B	0	1MA 2SPGI 3FICO Top holdings2022-06-30 1.MA 2.SPGI 3.FICO 4.MCO 5.V 6.AMZN 7.ADBE 8.INTU 9.ADSK 10.AZPN1USD
2022-03-31	10	$2.6B	0	1MA 2SPGI 3FICO Top holdings2022-03-31 1.MA 2.SPGI 3.FICO 4.MCO 5.AMZN 6.V 7.ADBE 8.INTU 9.AZPNUSD 10.ADSK
2021-12-31	9	$2.6B	0	1SPGI 2MA 3MCO Top holdings2021-12-31 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.ADBE 8.INTU 9.ADSK
2021-09-30	9	$2.5B	0	1SPGI 2MA 3MCO Top holdings2021-09-30 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.INTU 8.ADBE 9.ADSK
2021-06-30	9	$2.6B	24	1SPGI 2MA 3MCO Top holdings2021-06-30 1.SPGI 2.MA 3.MCO 4.FICO 5.AMZN 6.V 7.ADBE 8.INTU 9.ADSK
2021-03-31	10	$2.1B	65	1MA 2SPGI 3MCO Top holdings2021-03-31 1.MA 2.SPGI 3.MCO 4.FICO 5.V 6.ADBE 7.INTU 8.ADSK 9.AZPNUSD 10.AMZN
2020-12-31	10	$1.1B	19	1MA 2SPGI 3FICO Top holdings2020-12-31 1.MA 2.SPGI 3.FICO 4.MCO 5.V 6.INTU 7.ADSK 8.ADBE 9.AZPNUSD 10.AMZN
2020-09-30	10	$921.6M	12	1SPGI 2MCO 3MA Top holdings2020-09-30 1.SPGI 2.MCO 3.MA 4.FICO 5.V 6.INTU 7.ADBE 8.ADSK 9.AZPNUSD 10.AMZN
2020-06-30	10	$822.7M	54	1SPGI 2MCO 3FICO Top holdings2020-06-30 1.SPGI 2.MCO 3.FICO 4.MA 5.V 6.INTU 7.ADSK 8.ADBE 9.AZPNUSD 10.AMZN
2020-03-31	9	$472.2M	16	1SPGI 2FICO 3MCO Top holdings2020-03-31 1.SPGI 2.FICO 3.MCO 4.V 5.MA 6.INTU 7.ADSK 8.AZPNUSD 9.AMZN
2019-12-31	9	$514.5M	14	1FICO 2SPGI 3MCO Top holdings2019-12-31 1.FICO 2.SPGI 3.MCO 4.V 5.MA 6.INTU 7.ADSK 8.AZPNUSD 9.AMZN
2019-09-30	9	$448.1M	8	1SPGI 2FICO 3MCO Top holdings2019-09-30 1.SPGI 2.FICO 3.MCO 4.V 5.INTU 6.MA 7.ADSK 8.AZPNUSD 9.AMZN
2019-06-30	9	$421.8M	11	1FICO 2SPGI 3MCO Top holdings2019-06-30 1.FICO 2.SPGI 3.MCO 4.V 5.INTU 6.ADSK 7.MA 8.AZPNUSD 9.AMZN
2019-03-31	9	$377.8M	52	1FICO 2SPGI 3MCO Top holdings2019-03-31 1.FICO 2.SPGI 3.MCO 4.V 5.INTU 6.ADSK 7.MA 8.AZPNUSD 9.AMZN
2018-12-31	10	$264.3M	16	1SPGI 2FICO 3MCO Top holdings2018-12-31 1.SPGI 2.FICO 3.MCO 4.MNST 5.INTU 6.ADSK 7.V 8.MA 9.AZPNUSD 10.AMZN
2018-09-30	11	$300.5M	16	1FICO 2SPGI 3MCO Top holdings2018-09-30 1.FICO 2.SPGI 3.MCO 4.MNST 5.INTU 6.V 7.ADSK 8.MA 9.META 10.AZPNUSD
2018-06-30	10	$257.2M	46	1FICO 2SPGI 3MCO Top holdings2018-06-30 1.FICO 2.SPGI 3.MCO 4.MNST 5.INTU 6.V 7.MA 8.META 9.AZPNUSD 10.AMZN
2018-03-31	9	$213.6M	12	1SPGI 2MCO 3MNST Top holdings2018-03-31 1.SPGI 2.MCO 3.MNST 4.EFX 5.INTU 6.V 7.MA 8.META 9.AZPNUSD
2017-12-31	8	$189.4M	18	1MCO 2SPGI 3MNST Top holdings2017-12-31 1.MCO 2.SPGI 3.MNST 4.EFX 5.V 6.INTU 7.MA 8.AZPNUSD
2017-09-30	8	$157.8M	21	1MCO 2SPGI 3MNST Top holdings2017-09-30 1.MCO 2.SPGI 3.MNST 4.EFX 5.V 6.INTU 7.MA 8.AZPNUSD
2017-06-30	8	$140.6M	9	1MCO 2SPGI 3MNST Top holdings2017-06-30 1.MCO 2.SPGI 3.MNST 4.INTU 5.V 6.NKE 7.MA 8.AZPNUSD
2017-03-31	8	$128.5M	16	1MCO 2SPGI 3MNST Top holdings2017-03-31 1.MCO 2.SPGI 3.MNST 4.V 5.NKE 6.INTU 7.MA 8.AZPNUSD
2016-12-31	8	$109.6M	0	1MCO 2SPGI 3MNST Top holdings2016-12-31 1.MCO 2.SPGI 3.MNST 4.INTU 5.V 6.NKE 7.MA 8.AZPNUSD

Holding changes this quarter

Position changes disclosed by Valley Forge Capital Management, LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ASML	ASML Holding N.V.	+3.6%	+35.52%	Add
2	MA	Mastercard INC - A	+2.8%	+0.01%	Add
3	MCO	Moody's CORP	+1.8%	-0.01%	Trim
4	SPGI	S&p Global INC	+1.3%	-0.01%	Trim
5	INTU	Intuit INC	-0.9%	-14.54%	Trim
6	V	Visa Inc-class A Shares	-1.9%	-34.66%	Trim
7	FICO	Fair Isaac CORP	-5.2%	-0.01%	Trim
8	MSCI	Msci INC	—	EXIT	Sold out
9	EFX	Equifax INC	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-15	13F-HR	View on EDGAR
2025-12-31	2026-02-17	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-15	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-16	13F-HR	View on EDGAR
2021-03-31	2021-05-17	13F-HR	View on EDGAR
2020-12-31	2021-02-16	13F-HR	View on EDGAR
2020-09-30	2020-11-16	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-14	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-14	13F-HR	View on EDGAR
2017-06-30	2017-08-14	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-13	13F-HR	View on EDGAR

FAQ

What is Valley Forge Capital Management, LP and what type of investor is it?

What are Valley Forge Capital Management, LP's largest equity positions?

What changes did Valley Forge Capital Management, LP make in its most recent portfolio filing?

What sectors does Valley Forge Capital Management, LP focus on?

Valley Forge Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 66.5% • Information Technology: 33.5%