Valley Forge Capital Management, LP

1. Portfolio Overview

Valley Forge Capital Management’s 13F filing for the period ending September 30, 2025, reveals a highly concentrated portfolio that has undergone a dramatic reduction in size. The total portfolio value contracted by 52.2%, decreasing from $4.53 billion in the previous quarter to $2.17 billion. This shrinkage is not attributable to broad market sell-offs, but rather to specific capital allocation decisions, as the manager exited four significant positions. The fund curr...