Historical Stock Holdings

Valley Forge Capital Management

PeriodPortfolio ValueTop 20 holdings history (left to right)
2023   Q4$3.52 B FICO
Fair Isaac Corp.
29.89% of portfolio
 		SPGI
S&P Global Inc.
20.73% of portfolio
 		MA
Mastercard Inc.
18.00% of portfolio
 		MCO
Moody's Corp.
13.52% of portfolio
 		INTU
Intuit Inc.
7.90% of portfolio
 		V
Visa Inc.
6.75% of portfolio
 		AZPN
Aspen Technology Inc.
1.85% of portfolio
 		ASML
ASML Holding NV
1.35% of portfolio
2023   Q3$2.93 B FICO
Fair Isaac Corp.
27.94% of portfolio
 		SPGI
S&P Global Inc.
20.64% of portfolio
 		MA
Mastercard Inc.
20.11% of portfolio
 		MCO
Moody's Corp.
13.14% of portfolio
 		INTU
Intuit Inc.
7.75% of portfolio
 		V
Visa Inc.
7.10% of portfolio
 		AZPN
Aspen Technology Inc.
2.06% of portfolio
 		ASML
ASML Holding NV
1.26% of portfolio
2023   Q2$2.95 B FICO
Fair Isaac Corp.
25.87% of portfolio
 		SPGI
S&P Global Inc.
22.50% of portfolio
 		MA
Mastercard Inc.
19.85% of portfolio
 		MCO
Moody's Corp.
14.36% of portfolio
 		V
Visa Inc.
7.29% of portfolio
 		INTU
Intuit Inc.
6.91% of portfolio
 		AZPN
Aspen Technology Inc.
1.68% of portfolio
 		ASML
ASML Holding NV
1.55% of portfolio
2023   Q1$2.64 B FICO
Fair Isaac Corp.
25.09% of portfolio
 		MA
Mastercard Inc.
20.49% of portfolio
 		SPGI
S&P Global Inc.
18.18% of portfolio
 		MCO
Moody's Corp.
14.12% of portfolio
 		V
Visa Inc.
7.73% of portfolio
 		INTU
Intuit Inc.
7.51% of portfolio
 		ADBE
Adobe Inc.
3.59% of portfolio
 		ADSK
Autodesk Inc.
1.77% of portfolio
 		AZPN
Aspen Technology Inc.
1.52% of portfolio
2022   Q4$2.46 B FICO
Fair Isaac Corp.
23.41% of portfolio
 		MA
Mastercard Inc.
21.96% of portfolio
 		SPGI
S&P Global Inc.
18.94% of portfolio
 		MCO
Moody's Corp.
13.78% of portfolio
 		V
Visa Inc.
8.48% of portfolio
 		AMZN
Amazon.com Inc.
3.77% of portfolio
 		ADBE
Adobe Inc.
3.37% of portfolio
 		INTU
Intuit Inc.
3.13% of portfolio
 		ADSK
Autodesk Inc.
1.70% of portfolio
 		AZPN
Aspen Technology Inc.
1.46% of portfolio
2022   Q3$2.11 B MA
Mastercard Inc.
21.24% of portfolio
 		FICO
Fair Isaac Corp.
18.83% of portfolio
 		SPGI
S&P Global Inc.
18.77% of portfolio
 		MCO
Moody's Corp.
13.37% of portfolio
 		AMZN
Amazon.com Inc.
8.76% of portfolio
 		V
Visa Inc.
8.21% of portfolio
 		INTU
Intuit Inc.
3.64% of portfolio
 		ADBE
Adobe Inc.
3.22% of portfolio
 		ADSK
Autodesk Inc.
1.99% of portfolio
 		AZPN
Aspen Technology Inc.
1.98% of portfolio
2022   Q2$2.24 B MA
Mastercard Inc.
22.21% of portfolio
 		SPGI
S&P Global Inc.
19.52% of portfolio
 		FICO
Fair Isaac Corp.
17.26% of portfolio
 		MCO
Moody's Corp.
14.10% of portfolio
 		V
Visa Inc.
8.57% of portfolio
 		AMZN
Amazon.com Inc.
7.76% of portfolio
 		ADBE
Adobe Inc.
4.03% of portfolio
 		INTU
Intuit Inc.
3.38% of portfolio
 		ADSK
Autodesk Inc.
1.72% of portfolio
 		AZPN
Aspen Technology Inc.
1.44% of portfolio
2022   Q1$2.63 B MA
Mastercard Inc.
20.96% of portfolio
 		SPGI
S&P Global Inc.
18.56% of portfolio
 		FICO
Fair Isaac Corp.
15.95% of portfolio
 		MCO
Moody's Corp.
13.87% of portfolio
 		AMZN
Amazon.com Inc.
10.13% of portfolio
 		V
Visa Inc.
8.21% of portfolio
 		ADBE
Adobe Inc.
4.27% of portfolio
 		INTU
Intuit Inc.
3.59% of portfolio
 		AZPN
Aspen Technology Inc.
2.63% of portfolio
 		ADSK
Autodesk Inc.
1.83% of portfolio
2021   Q4$2.64 B SPGI
S&P Global Inc.
19.86% of portfolio
 		MA
Mastercard Inc.
19.58% of portfolio
 		MCO
Moody's Corp.
15.18% of portfolio
 		FICO
Fair Isaac Corp.
14.67% of portfolio
 		AMZN
Amazon.com Inc.
10.30% of portfolio
 		V
Visa Inc.
7.65% of portfolio
 		ADBE
Adobe Inc.
5.28% of portfolio
 		INTU
Intuit Inc.
4.77% of portfolio
 		ADSK
Autodesk Inc.
2.70% of portfolio
2021   Q3$2.52 B SPGI
S&P Global Inc.
21.55% of portfolio
 		MA
Mastercard Inc.
19.08% of portfolio
 		MCO
Moody's Corp.
16.31% of portfolio
 		FICO
Fair Isaac Corp.
11.46% of portfolio
 		AMZN
Amazon.com Inc.
10.56% of portfolio
 		V
Visa Inc.
8.98% of portfolio
 		INTU
Intuit Inc.
4.61% of portfolio
 		ADBE
Adobe Inc.
4.58% of portfolio
 		ADSK
Autodesk Inc.
2.87% of portfolio
2021   Q2$2.57 B SPGI
S&P Global Inc.
20.29% of portfolio
 		MA
Mastercard Inc.
19.19% of portfolio
 		MCO
Moody's Corp.
16.26% of portfolio
 		FICO
Fair Isaac Corp.
13.11% of portfolio
 		AMZN
Amazon.com Inc.
10.52% of portfolio
 		V
Visa Inc.
9.22% of portfolio
 		ADBE
Adobe Inc.
4.42% of portfolio
 		INTU
Intuit Inc.
4.10% of portfolio
 		ADSK
Autodesk Inc.
2.88% of portfolio
2021   Q1$2.11 B MA
Mastercard Inc.
22.61% of portfolio
 		SPGI
S&P Global Inc.
21.24% of portfolio
 		MCO
Moody's Corp.
16.32% of portfolio
 		FICO
Fair Isaac Corp.
15.31% of portfolio
 		V
Visa Inc.
10.17% of portfolio
 		ADBE
Adobe Inc.
4.21% of portfolio
 		INTU
Intuit Inc.
3.90% of portfolio
 		ADSK
Autodesk Inc.
3.32% of portfolio
 		AZPN
Aspen Technology Inc.
2.64% of portfolio
 		AMZN
Amazon.com Inc.
0.27% of portfolio
2020   Q4$1.08 B MA
Mastercard Inc.
22.43% of portfolio
 		SPGI
S&P Global Inc.
19.71% of portfolio
 		FICO
Fair Isaac Corp.
16.44% of portfolio
 		MCO
Moody's Corp.
16.00% of portfolio
 		V
Visa Inc.
10.93% of portfolio
 		INTU
Intuit Inc.
4.08% of portfolio
 		ADSK
Autodesk Inc.
3.90% of portfolio
 		ADBE
Adobe Inc.
3.74% of portfolio
 		AZPN
Aspen Technology Inc.
2.45% of portfolio
 		AMZN
Amazon.com Inc.
0.30% of portfolio
2020   Q3$922 M SPGI
S&P Global Inc.
24.81% of portfolio
 		MCO
Moody's Corp.
18.51% of portfolio
 		MA
Mastercard Inc.
16.32% of portfolio
 		FICO
Fair Isaac Corp.
15.71% of portfolio
 		V
Visa Inc.
10.48% of portfolio
 		INTU
Intuit Inc.
4.10% of portfolio
 		ADBE
Adobe Inc.
3.80% of portfolio
 		ADSK
Autodesk Inc.
3.45% of portfolio
 		AZPN
Aspen Technology Inc.
2.49% of portfolio
 		AMZN
Amazon.com Inc.
0.34% of portfolio
2020   Q2$823 M SPGI
S&P Global Inc.
21.93% of portfolio
 		MCO
Moody's Corp.
19.02% of portfolio
 		FICO
Fair Isaac Corp.
17.29% of portfolio
 		MA
Mastercard Inc.
15.86% of portfolio
 		V
Visa Inc.
11.34% of portfolio
 		INTU
Intuit Inc.
4.17% of portfolio
 		ADSK
Autodesk Inc.
4.00% of portfolio
 		ADBE
Adobe Inc.
3.78% of portfolio
 		AZPN
Aspen Technology Inc.
2.28% of portfolio
 		AMZN
Amazon.com Inc.
0.34% of portfolio
2020   Q1$472 M SPGI
S&P Global Inc.
22.73% of portfolio
 		FICO
Fair Isaac Corp.
22.17% of portfolio
 		MCO
Moody's Corp.
20.15% of portfolio
 		V
Visa Inc.
16.48% of portfolio
 		MA
Mastercard Inc.
8.99% of portfolio
 		INTU
Intuit Inc.
4.61% of portfolio
 		ADSK
Autodesk Inc.
3.57% of portfolio
 		AZPN
Aspen Technology Inc.
0.88% of portfolio
 		AMZN
Amazon.com Inc.
0.41% of portfolio
2019   Q4$515 M FICO
Fair Isaac Corp.
24.26% of portfolio
 		SPGI
S&P Global Inc.
22.36% of portfolio
 		MCO
Moody's Corp.
20.76% of portfolio
 		V
Visa Inc.
17.64% of portfolio
 		MA
Mastercard Inc.
4.92% of portfolio
 		INTU
Intuit Inc.
4.82% of portfolio
 		ADSK
Autodesk Inc.
3.85% of portfolio
 		AZPN
Aspen Technology Inc.
1.03% of portfolio
 		AMZN
Amazon.com Inc.
0.36% of portfolio
2019   Q3$448 M SPGI
S&P Global Inc.
23.04% of portfolio
 		FICO
Fair Isaac Corp.
22.56% of portfolio
 		MCO
Moody's Corp.
20.43% of portfolio
 		V
Visa Inc.
18.54% of portfolio
 		INTU
Intuit Inc.
5.62% of portfolio
 		MA
Mastercard Inc.
4.66% of portfolio
 		ADSK
Autodesk Inc.
3.56% of portfolio
 		AZPN
Aspen Technology Inc.
1.20% of portfolio
 		AMZN
Amazon.com Inc.
0.39% of portfolio
2019   Q2$422 M FICO
Fair Isaac Corp.
24.80% of portfolio
 		SPGI
S&P Global Inc.
22.76% of portfolio
 		MCO
Moody's Corp.
19.49% of portfolio
 		V
Visa Inc.
19.29% of portfolio
 		INTU
Intuit Inc.
5.86% of portfolio
 		ADSK
Autodesk Inc.
4.17% of portfolio
 		MA
Mastercard Inc.
2.24% of portfolio
 		AZPN
Aspen Technology Inc.
0.93% of portfolio
 		AMZN
Amazon.com Inc.
0.45% of portfolio
2019   Q1$378 M FICO
Fair Isaac Corp.
23.95% of portfolio
 		SPGI
S&P Global Inc.
22.70% of portfolio
 		MCO
Moody's Corp.
20.17% of portfolio
 		V
Visa Inc.
18.60% of portfolio
 		INTU
Intuit Inc.
6.55% of portfolio
 		ADSK
Autodesk Inc.
4.46% of portfolio
 		MA
Mastercard Inc.
2.23% of portfolio
 		AZPN
Aspen Technology Inc.
0.87% of portfolio
 		AMZN
Amazon.com Inc.
0.47% of portfolio