Valley Forge Capital

Q2 2020 13F · by Dev Kantesaria, founder

As of: Jun 30, 2020
Filed: Aug 14, 2020
US stock: $823M · prev $472M
Positions: 10 · prev 9
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves7 since the prior filing

+10.1 pp in · 0.0 pp out

New 1 +3.78 pp
Added 6 +6.33 pp
Trimmed 0 0.00 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year

Low
Moderate
High

Top 5 positions85% of US stock

SPGI S&P Global Inc. added−0.80 pp added−0.8021.9%
MCO Moody's Corporation added−1.13 pp added−1.1319.0%
FICO Fair Isaac Corporation held held17.3%
MA Mastercard Incorporated added+6.87 pp added+6.8715.9%
V VISA Inc. held held11.3%

Positions10 in this filing · 0 exited


SPGIS&P Global Inc.	21.93%	547,505	$180M	added+25%	−0.80 pp	15 q
MCOMoody's Corporation	19.02%	569,529	$156M	added+27%	−1.13 pp	15 q
FICOFair Isaac Corporation	17.29%	340,278	$142M	held	—	9 q
MAMastercard Incorporated	15.86%	441,150	$130M	added×2.5	+6.87 pp	15 q
VVISA Inc.	11.34%	482,922	$93M	held	—	15 q
INTUIntuit Inc	4.17%	115,741	$34M	added+22%	−0.44 pp	15 q
ADSKAutodesk Inc	4.00%	137,624	$33M	added+27%	+0.43 pp	8 q
ADBEAdobe Inc.	3.78%	71,500	$31M	new	+3.78 pp	new
AZPNAspen Technology Inc	2.28%	181,266	$19M	added×4.1	+1.40 pp	15 q
AMZNAmazon.Com Inc	0.34%	1,000	$3M	held	—	9 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001697868-20-000005
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet