Dev Kantesaria - Valley Forge Capital Management Investment Strategy & Portfolio Analysis

According to the SEC 13F filed on Aug 14, 2026, Dev Kantesaria's Valley Forge Capital Management portfolio reflects a highly concentrated, high-conviction, thematic approach across 7 reported 13F positions as of quarter-end Jun 30, 2026. Portfolio returns are primarily driven by a small set of high-conviction positions such as Fair Isaac, S&P Global, and Moody's, with the top five holdings accounting for approximately 93% of total exposure and Fair Isaac alone contributing ~26%. Economic outcomes are highly concentrated in a narrow set of financials and technology names. Exposure to high-growth and technology-oriented segments is elevated relative to peers, with performance instead anchored in durable, cash-generating businesses across financials and unknown. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Highly Concentrated, Economically Concentrated.