D
Dev Kantesaria
Valley Forge Capital Management, LP · Holdings as of Dec 31, 2024, filed by Feb 15, 2025 · US long stock positions only
A few dominant franchises
Reported value
$5B
9 positions shown
Copycat since 2016
4.41x
16% per year
vs SPY
ahead
SPY 3.57x same window
Top position
FICO
34% of book
Copying these filings vs SPY $1 at every deadline since 2016
Dev Kantesaria 4.41x
SPY 3.57x
Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance.
The book tile = share of the filed book · tap a tile for the ticker · Dec 2024
Symbol Value % of book vs prior quarter
FICO $1.6B
34%
trimmed
SPGI $874M
19%
added
MA $782M
17%
unchanged
MCO $622M
14%
unchanged
V $288M
6%
unchanged
INTU $253M
6%
trimmed
unlisted $87M
2%
unchanged
EFX $37M
1%
new
MSCI $36M
1%
new
Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.