Valley Forge Capital Management, LP
Valley Forge Capital Management, LP is a United States-based registered investment adviser and asset management firm with headquarters in Miami, Florida. The firm primarily manages assets for institutional investors and high net worth individuals. Incorporated in Delaware, the firm has been operating for over five years and is led by Devang Kantesaria. Valley Forge Capital is known for its concentrated and long-term equity investment approach.
Investment Strategy
Valley Forge Capital Management employs a highly concentrated investment strategy focused on long-term ownership of a select number of high-quality businesses. The firm seeks to identify companies with durable competitive advantages, strong management teams, and favorable capital allocation. Its approach involves rigorous fundamental research and holding investments for extended periods, allowing the benefits of compounding to accrue. The strategy is value-oriented but with an emphasis on quality, attempting to invest only when a company’s intrinsic value significantly exceeds its market price.
Latest 13F Filing Activity
Valley Forge Capital Management, LP filed their most recent 13F report on Jun 30, 2025 disclosing 9 equity positions with a total 13F market value of $5B. The fund increased holdings in Moodys Corp., S&P Global Inc., Intuit among other positions. Valley Forge Capital Management, LP reduced exposure to Fair Isaac Corp., Msci Inc., Equifax Inc. among others.
Top Holdings
Equity Positions (9)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
F FICO | FAIR ISAAC CORP | 31.03% | $1.40B | 768,422 | $364.37 | $1827.96 | -$12.4M |
S SPGI | S&P GLOBAL INC | 20.44% | $925.4M | 1,755,098 | $321.73 | $527.29 | +$33.7M |
M MA | MASTERCARD INCORPORATED | 18.43% | $834.4M | 1,484,772 | $330.46 | $561.94 | +$20.5M |
M MCO | MOODYS CORP | 14.56% | $659.2M | 1,314,144 | $252.10 | $501.59 | +$47.2M |
V V | VISA INC | 7.15% | $323.8M | 912,017 | $183.19 | $355.05 | +$4.2M |
Industry Allocation
Investment Team (2)
| Name | Role | Location | |
|---|---|---|---|
D Dev Kantesaria | Managing Partner | Miami, FL , United States | |
B Benjamin Silverman | Principal | Miami, FL , United States |