13F filing recap · Q1 2026

What did Valley Forge Capital Management buy in Q1 2026?

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

Stock value

$3.38B

Positions

Estimated turnover

6.1%

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 exited Equifax and Msci entirely. It also trimmed Fair Isaac, S&P Global, Moody’s, Visa, and Intuit, while adding to Mastercard. The firm substantially increased its Asml Holding position.

Increased positions

MAMastercard Inc$743.24Mreported value+87 shares+0.0%ASMLAsml Holding N.v.$225.97Mreported value+44.8K shares+35.5%

Reduced positions

FICOFair Isaac Corp$821.30Mreported value-82 shares-0.0%SPGIS&P Global Inc.$747.78Mreported value-105 shares-0.0%MCOMoody’s Corporation$574.62Mreported value-104 shares-0.0%VVisa Inc.$180.97Mreported value-317.7K shares

Exited positions

MSCIMsci Inc.$34.87Mprior reported value-60.8K shares-100.0%EFXEquifax Inc$31.76Mprior reported value-146.4K shares-100.0%