Valley Forge Capital Management, LP

Added to Mastercard Incorporated, sold out of Msci. Portfolio down 23% to $3.4B.

$3.4B portfolio7 holdingstop 10 = 100%filed 2026-05-15

1FICOFair Isaac Corp24.33%
$821.3M - 769K shares-82
2SPGIS&P Global Inc22.15%
$747.8M - 1.8M shares-105
3MAMastercard Incorporated22.02%
$743.2M - 1.5M shares+87
4MCOMoodys Corp17.02%
$574.6M - 1.3M shares-104
5Asml Holding N V6.69%
$226.0M - 171K shares+45K
6VVisa Inc5.36%
$181.0M - 599K shares-318K
7INTUIntuit2.42%
$81.8M - 189K shares-32K

#	Stock
1	FICOFair Isaac Corp	24.33%	$821.3M	769K	-82
2	SPGIS&P Global Inc	22.15%	$747.8M	1.8M	-105
3	MAMastercard Incorporated	22.02%	$743.2M	1.5M	+87
4	MCOMoodys Corp	17.02%	$574.6M	1.3M	-104
5	Asml Holding N V	6.69%	$226.0M	171K	+45K
6	VVisa Inc	5.36%	$181.0M	599K	-318K
7	INTUIntuit	2.42%	$81.8M	189K	-32K

What a 13F does not show

Filed up to 45 days after the quarter ends, so this is Q1 2026, not today. US-listed shares and some options only. No short bets, cash, bonds, or foreign listings.