Valley Forge Capital Management, LP — MASTERCARD INCORPORATED MA: Quarterly 13F Position History
Valley Forge Capital Management, LP has reported MASTERCARD INCORPORATED (MA) on 38 13F-HR filings in Pactolio's tracked window, first appearing in Q4 2016. As of Q1 2026, the position is sized at 1,487,496 shares ($743.2M market value, 22.02% of the equity book). Quarter-over-quarter share count change: + 87 (+0.0%) .
- 1,487,496Shares Held (Latest Filing)
- $743.2MReported Market Value (Latest Filing)
- 22.02%Portfolio Weight (% of 13F Equity Book)
- +87Quarter-over-Quarter Share Change
- -$105.9MQuarter-over-Quarter Value Change
- 1,574,417Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 38 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 1,487,496 | +87 | +0.0% | $743.2M | 22.02% | $499.66 |
| Q4 2025 | 1,487,409 | +2,637 | +0.2% | $849.1M | 19.25% | $570.88 |
| Q3 2025 | 1,484,772 | 0 | — | $844.6M | 20.32% | $568.81 |
| Q2 2025 | 1,484,772 | 0 | — | $834.4M | 18.43% | $561.94 |
| Q1 2025 | 1,484,772 | 0 | — | $813.8M | 18.54% | $548.12 |
| Q4 2024 | 1,484,772 | 0 | — | $781.8M | 17.22% | $526.57 |
| Q3 2024 | 1,484,772 | 0 | — | $733.2M | 16.29% | $493.80 |
| Q2 2024 | 1,484,772 | 0 | — | $655.0M | 16.94% | $441.16 |
| Q1 2024 | 1,484,772 | 0 | — | $715.0M | 19.50% | $481.57 |
| Q4 2023 | 1,484,772 | 4,330 | -0.3% | $633.3M | 18.00% | $426.51 |
| Q3 2023 | 1,489,102 | 0 | — | $589.6M | 20.11% | $395.91 |
| Q2 2023 | 1,489,102 | 0 | — | $585.7M | 19.85% | $393.30 |
| Q1 2023 | 1,489,102 | 66,565 | -4.3% | $541.2M | 20.49% | $363.41 |
| Q4 2022 | 1,555,667 | 18,750 | -1.2% | $541.0M | 21.96% | $347.73 |
| Q3 2022 | 1,574,417 | 0 | — | $447.7M | 21.24% | $284.34 |
| Q2 2022 | 1,574,417 | +32,560 | +2.1% | $496.7M | 22.21% | $315.48 |
| Q1 2022 | 1,541,857 | +101,159 | +7.0% | $551.0M | 20.96% | $357.38 |
| Q4 2021 | 1,440,698 | +59,575 | +4.3% | $517.7M | 19.58% | $359.32 |
| Q3 2021 | 1,381,123 | +28,309 | +2.1% | $480.2M | 19.08% | $347.68 |
| Q2 2021 | 1,352,814 | +10,656 | +0.8% | $493.9M | 19.19% | $365.09 |
| Q1 2021 | 1,342,158 | +665,544 | +98.4% | $477.9M | 22.61% | $356.05 |
| Q4 2020 | 676,614 | +231,964 | +52.2% | $241.5M | 22.43% | $356.94 |
| Q3 2020 | 444,650 | +3,500 | +0.8% | $150.4M | 16.32% | $338.17 |
| Q2 2020 | 441,150 | +265,500 | +151.2% | $130.4M | 15.86% | $295.70 |
| Q1 2020 | 175,650 | +90,800 | +107.0% | $42.4M | 8.99% | $241.56 |
| Q4 2019 | 84,850 | +8,000 | +10.4% | $25.3M | 4.92% | $298.59 |
| Q3 2019 | 76,850 | +41,100 | +115.0% | $20.9M | 4.66% | $271.57 |
| Q2 2019 | 35,750 | 0 | — | $9.5M | 2.24% | $264.53 |
| Q1 2019 | 35,750 | 0 | — | $8.4M | 2.23% | $235.44 |
| Q4 2018 | 35,750 | +1,000 | +2.9% | $6.7M | 2.55% | $188.64 |
| Q3 2018 | 34,750 | 0 | — | $7.7M | 2.57% | $222.62 |
| Q2 2018 | 34,750 | 0 | — | $6.8M | 2.65% | $196.52 |
| Q1 2018 | 34,750 | 0 | — | $6.1M | 2.85% | $175.17 |
| Q4 2017 | 34,750 | 0 | — | $5.3M | 2.78% | $151.37 |
| Q3 2017 | 34,750 | 0 | — | $4.9M | 3.11% | $141.21 |
| Q2 2017 | 34,750 | 0 | — | $4.2M | 3.00% | $121.44 |
| Q1 2017 | 34,750 | 0 | — | $3.9M | 3.04% | $112.46 |
| Q4 2016 | 34,750 | — | — | $3.6M | 3.27% | $103.25 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Valley Forge Capital Management, LP first disclose a MA position in 13F-HR filings?
Valley Forge Capital Management, LP first reported MASTERCARD INCORPORATED (MA) on its 13F-HR filing for the period ending 2016-12-31 (Q4 2016). The position has appeared on 38 reported quarters within Pactolio's tracked window.
What was Valley Forge Capital Management, LP's most recent quarter-over-quarter share-count change in MA?
Between Q4 2025 and Q1 2026, Valley Forge Capital Management, LP added 87 shares of MA (+0.0%), bringing the total reported position to 1,487,496 shares at a market value of $743.2M.
Does the implied price-per-share represent Valley Forge Capital Management, LP's cost basis in MA?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.