13F filing recap · Q4 2024

What did Valley Forge Capital Management buy in Q4 2024?

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

Stock value

$4.54B

Positions

Estimated turnover

5.7%

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.

Quarter in review

Valley Forge Capital Management opened new positions in Equifax and MSCI, while exiting Aspen Technology entirely. The firm slightly trimmed Fair Isaac and Intuit, and modestly added to S&P Global and Moody’s.

New positions

EFXEquifax Inc$36.70Mreported value+144.0K shares MSCIMsci Inc.$35.82Mreported value+59.7K shares

Increased positions

SPGIS&P Global Inc.$874.09Mreported value+49.2K shares+2.9%MCOMoody’s Corporation$622.08Mreported value+25.7K shares+2.0%

Reduced positions

FICOFair Isaac Corp$1.56Breported value-24.7K shares-3.1%INTUIntuit Inc.$252.83Mreported value-42.6K shares-9.6%

Exited positions

AZPNAspen Technology Inc$70.57Mprior reported value-295.5K shares-100.0%