13F filing recap · Q3 2020

What did Valley Forge Capital Management buy in Q3 2020?

Reported stock-position changes between this filing and the previous one.

Stock value

$921.60M

Positions

Estimated turnover

4.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

SPGIS&P Global Inc.$228.62Mreported value+86.5K shares+15.8%MCOMoody’s Corporation$170.59Mreported value+19.0K shares+3.3%MAMastercard Inc$150.37Mreported value+3.5K shares+0.8%