Great investors · Dev Kantesaria · Q1 2025
What Dev Kantesaria bought and sold in Q1 2025
Valley Forge Capital 13F portfolio as of Mar 31, 2025: 9 positions worth $4.4 bn. Largest: FICO, SPGI, MA, MCO. Filed with the SEC on May 15, 2025.
The 13F is filed by Valley Forge Capital, not by Dev Kantesaria personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q1 2025
No purchase of 0.5 points of the portfolio or more this quarter.
Sells in Q1 2025
- ReducedIntuitINTU−1.4 pp
- ReducedFair IsaacFICO−0.6 pp
2 companies with material moves, out of 2 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Valley Forge Capital's Q1 2025 13F lists 9 lines of US-listed securities worth $4.4 bn; the largest is FICO at 32.3% of the portfolio. It was accepted by the SEC on May 15, 2025 at 4:06 PM ET.
Against the previous quarter, it opened no new positions, closed none, added to none and trimmed 2 (INTU and FICO). 7 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Fair Isaac FICO | 768,422 | $1.4 bn | 32.3% | −2% |
| 2 | S&P Global SPGI | 1.8 M | $892M | 20.3% | no change |
| 3 | Mastercard MA | 1.5 M | $814M | 18.5% | no change |
| 4 | Moody's MCO | 1.3 M | $612M | 13.9% | no change |
| 5 | Visa V | 912,017 | $320M | 7.28% | no change |
| 6 | Intuit INTU | 297,360 | $183M | 4.16% | −26% |
| 7 | ASML Holding ASML | 125,627 | $83.2M | 1.90% | no change |
| 8 | Equifax EFX | 144,000 | $35.1M | 0.80% | no change |
| 9 | MSCI MSCI | 59,700 | $33.8M | 0.77% | no change |
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Valley Forge Capital's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.