Dev Kantesaria - Valley Forge Capital Management Investment Strategy (Jun 30, 2025)


As of Jun 30, 2025, the Valley Forge Capital Management portfolio managed by Dev Kantesaria demonstrates a sophisticated investment approach with 13 positions and an average holding period of 780 quarters. The strategy focuses on Consumer Cyclical, Financial Services, Industrials, Technology sectors with a typical position size of 11.7% of the portfolio.


The portfolio's risk management approach includes a maximum position size of 11.7% and sector diversification of 4%, exemplified by the case study of FAIR ISAAC CORP (FICO). This strategic framework provides insights into Dev Kantesaria's investment philosophy, risk management practices, and long-term value creation approach.

Investment Strategy Metrics

Key metrics revealing investment style, risk management, and performance characteristics

MetricValueCategoryDescription
Holding Period2.1 yearsStyleAverage duration positions are maintained
Position Count13StyleNumber of active positions in portfolio
Position Size11.7%RiskTypical allocation per position
Win Rate72.8%PerformancePercentage of profitable positions
Average Return8.9%PerformanceMean return across positions
Sharpe Ratio0.42PerformanceReturn per unit of risk taken

Investment Case Study: FAIR ISAAC CORP (FICO)

6/30/2018 - 11/10/2025

Performance Metrics

Total Return: 214.00%

Holding Period: 2690 days

Max Position Size: $1,571,905,371.00

Position Weight: 23.30%

Key Events

6/30/2018: ENTRY(319,078.00 shares) @ $0.19
9/30/2018: INCREASE(14,000.00 shares) @ $0.23
3/31/2020: INCREASE(7,200.00 shares) @ $0.31
12/31/2020: INCREASE(6,000.00 shares) @ $0.51
3/31/2021: INCREASE(319,723.00 shares) @ $0.49
6/30/2021: INCREASE(5,508.00 shares) @ $0.50
9/30/2021: INCREASE(53,202.00 shares) @ $0.40
12/31/2021: INCREASE(169,771.00 shares) @ $0.43
3/31/2022: INCREASE(4,648.00 shares) @ $0.47
6/30/2022: INCREASE(63,918.00 shares) @ $0.40
3/31/2023: DECREASE(-20,000.00 shares) @ $702.69
12/31/2023: DECREASE(-39,461.00 shares) @ $1,164.01
3/31/2024: DECREASE(-22,839.00 shares) @ $1,249.61
6/30/2024: DECREASE(-3,000.00 shares) @ $1,488.66
9/30/2024: DECREASE(-68,955.00 shares) @ $1,943.52
12/31/2024: DECREASE(-24,671.00 shares) @ $1,990.93
3/31/2025: DECREASE(-15,700.00 shares) @ $1,844.16

Investment Thesis

Entry Context: Initial position established based on fundamental analysis

Sector Conditions: Favorable market conditions in the sector

Risk Factors:
  • Market volatility
  • Sector-specific risks

Key Learnings

  • Position sizing is critical for portfolio management
  • Important to monitor sector exposure

Sector Allocations