CIK: 0000894135
Total reported value
$644.6M
Reporting period: 2015-12-31 · Number of holdings: 101
VALLEY FORGE ASSET MANAGEMENT, LLC disclosed 101 holdings in its latest 13F filing for the period ending 2015-12-31, with total reported value of $644.6M and a quarterly turnover rate of 30.6%.
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Valley Forge Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 54 equally-sized positions, well below its 101 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.94), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 54% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add PG
+449.4% $9.3M
Trim DUK
-92.9% -$8.7M
Trim DIS
-96.6% -$7.6M
Add SLB
+127.8% $7.1M
Trim KEY
-43.2% -$5.7M
Trim 268648102
-53.9% -$5.5M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AEP | American Electric Power Company, Inc. | Stock-Utilities | 3.54% | +0.48% | -4.79% | |
| 2 | INTC | Intel CORP | Stock-Tech | 3.15% | +0.19% | -5.45% | |
| 3 | PFE | Pfizer INC | Stock-Healthcare | 3.02% | — | -1.98% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 2.95% | +0.45% | -4.66% | |
| 5 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.83% | +0.11% | -3.97% | |
| 6 | BAC | Bank Of America CORP | Stock-Financials | 2.61% | +0.09% | -2.52% | |
| 7 | ✓ | Verizon Communications Inc. | Stock-Other | 2.56% | +0.24% | +5.37% | |
| 8 | MRK | Merck & Co. INC. | Stock-Healthcare | 2.40% | +0.20% | +3.65% | |
| 9 | PAYX | Paychex INC | Stock-Tech | 2.33% | +0.32% | +6.03% | |
| 10 | FITB | Fifth Third Bancorp | Stock-Financials | 2.29% | — | -3.28% | |
| 11 | CSCO | Cisco Systems INC | Stock-Tech | 2.22% | — | -1.04% | |
| 12 | WFC | Wells Fargo & Co | Stock-Financials | 2.22% | +0.14% | +2.01% | |
| 13 | ✓ | Exxon Mobil Corporation | Stock-Other | 2.18% | +0.14% | +3.58% | |
| 14 | T | At&t INC | Stock-Comm Services | 2.14% | +0.11% | +1.15% | |
| 15 | ORCL | Oracle CORP | Stock-Tech | 2.03% | -0.25% | -10.39% | |
| 16 | WM | Waste Management INC | Stock-Industrials | 1.96% | — | -4.92% | |
| 17 | SLB | Slb LTD | Stock-Energy | 1.95% | +1.09% | +127.82% | |
| 18 | UPS | United Parcel Service-cl B | Stock-Industrials | 1.88% | -0.27% | -8.94% | |
| 19 | WMT | Walmart INC | Stock-Consumer Staples | 1.85% | — | +11.64% | |
| 20 | PEP | Pepsico INC | Stock-Consumer Staples | 1.78% | +0.28% | +14.24% | |
| 21 | VOD | Vodafone Group Plc-sp Adr | Stock-Comm Services | 1.77% | +0.22% | +14.31% | |
| 22 | ABT | Abbott Laboratories | Stock-Healthcare | 1.76% | — | -4.94% | |
| 23 | BA | Boeing Co/the | Stock-Industrials | 1.74% | — | -5.54% | |
| 24 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.73% | +1.44% | +449.41% | |
| 25 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 1.71% | +0.15% | -4.60% | |
| 26 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.69% | +0.26% | -4.23% | |
| 27 | TRI | Thomson Reuters Corporation | Stock-Industrials | 1.67% | -0.20% | -3.94% | |
| 28 | AAPL | Apple INC | Stock-Tech | 1.64% | -0.22% | -6.40% | |
| 29 | ✓ | Macy's, Inc. | Stock-Other | 1.62% | +1.62% | NEW | |
| 30 | MS | Morgan Stanley | Stock-Financials | 1.61% | -0.42% | -20.13% | |
| 31 | SYY | Sysco CORP | Stock-Consumer Staples | 1.54% | +0.15% | +7.29% | |
| 32 | CME | Cme Group INC | Stock-Financials | 1.53% | — | -1.23% | |
| 33 | CSX | Csx CORP | Stock-Industrials | 1.52% | -0.47% | -19.78% | |
| 34 | NLYEUR | Annaly Capital Management In | Stock-Other | 1.48% | -0.51% | -20.91% | |
| 35 | PYPL | Paypal Holdings INC | Stock-Financials | 1.38% | +0.15% | -2.44% | |
| 36 | FAST | Fastenal Co | Stock-Industrials | 1.38% | +0.19% | +5.99% | |
| 37 | ✓ | Costco Wholesale Corporation | Stock-Other | 1.37% | — | -6.81% | |
| 38 | INFY | Infosys Ltd-sp Adr | Stock-Tech | 1.32% | +1.32% | NEW | |
| 39 | TGT | Target CORP | Stock-Consumer Disc | 1.26% | -0.77% | -31.88% | |
| 40 | ABBV | Abbvie INC | Stock-Healthcare | 1.23% | +1.23% | NEW | |
| 41 | KEY | Keycorp | Stock-Financials | 1.19% | -0.91% | -43.24% | |
| 42 | TRV | Travelers Cos Inc/the | Stock-Financials | 1.19% | — | -6.26% | |
| 43 | F | Ford Motor Co | Stock-Consumer Disc | 1.18% | — | -7.41% | |
| 44 | CLB | Core Laboratories Inc. | Stock-Other | 1.17% | — | +1.50% | |
| 45 | ETN | Eaton Corporation plc | Stock-Industrials | 1.17% | — | +4.20% | |
| 46 | YUM | Yum! Brands INC | Stock-Consumer Disc | 1.11% | +1.11% | NEW | |
| 47 | VFC | Vf CORP | Stock-Consumer Disc | 1.07% | -0.84% | -37.29% | |
| 48 | BBBYEUR | 20230930-dk-butterfly-1 INC | Stock-Other | 1.06% | +0.16% | +41.42% | |
| 49 | ACWI | iShares MSCI ACWI ETF | ETF-Other | 1.04% | — | -4.78% | |
| 50 | IBM | Intl Business Machines CORP | Stock-Tech | 0.98% | +0.98% | NEW |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2015-12-31 | 101 | $644.6M | 31 | |
| 2015-09-30 | 98 | $634.8M | 49 | |
| 2015-06-30 | 104 | $747.0M | 29 | |
| 2015-03-31 | 98 | $809.6M | 26 | |
| 2014-12-31 | 99 | $843.8M | 35 | |
| 2014-09-30 | 99 | $819.6M | 43 | |
| 2014-06-30 | 90 | $934.5M | 31 | |
| 2014-03-31 | 87 | $926.6M | 45 | |
| 2013-12-31 | 88 | $1.0B | 56 | |
| 2013-09-30 | 84 | $1.5B | 19 | |
| 2013-06-30 | 96 | $1.5B | 0 |
Valley Forge Asset Management, LLC's most significant position changes for 2015-12-31: New buy: Macy's, Inc.; Sold out: Comcast Corp-class A (CMCSA); New buy: Infosys Ltd-sp Adr (INFY); New buy: Abbvie INC (ABBV); New buy: Yum! Brands INC (YUM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PG | Procter & Gamble Co/the | +1.4% | +449.41% | Add |
| 2 | SLB | Slb LTD | +1.1% | +127.82% | Add |
| 3 | AEP | American Electric Power Company, Inc. | +0.5% | -4.79% | Trim |
| 4 | MSFT | Microsoft CORP | +0.5% | -4.66% | Trim |
| 5 | EEM | Ishares Msci Emerging Market | +0.4% | +518.60% | Add |
| 6 | PAYX | Paychex INC | +0.3% | +6.03% | Add |
| 7 | PEP | Pepsico INC | +0.3% | +14.24% | Add |
| 8 | GOOG | Alphabet Inc-cl C | +0.3% | -4.23% | Trim |
| 9 | ✓ | Verizon Communications Inc. | +0.2% | +5.37% | Add |
| 10 | VOD | Vodafone Group Plc-sp Adr | +0.2% | +14.31% | Add |
| 11 | MRK | Merck & Co. INC. | +0.2% | +3.65% | Add |
| 12 | INTC | Intel CORP | +0.2% | -5.45% | Trim |
| 13 | FAST | Fastenal Co | +0.2% | +5.99% | Add |
| 14 | BBBYEUR | 20230930-dk-butterfly-1 INC | +0.2% | +41.42% | Add |
| 15 | DVY | Ishares Select Dividend ETF | +0.2% | +32.87% | Add |
| 16 | SYY | Sysco CORP | +0.2% | +7.29% | Add |
| 17 | KMB | Kimberly-clark CORP | +0.2% | -4.60% | Trim |
| 18 | PYPL | Paypal Holdings INC | +0.2% | -2.44% | Trim |
| 19 | ✓ | Exxon Mobil Corporation | +0.1% | +3.58% | Add |
| 20 | WFC | Wells Fargo & Co | +0.1% | +2.01% | Add |
| 21 | JNJ | Johnson & Johnson | +0.1% | -3.97% | Trim |
| 22 | T | At&t INC | +0.1% | +1.15% | Add |
| 23 | BAC | Bank Of America CORP | +0.1% | -2.52% | Trim |
| 24 | TRI | Thomson Reuters Corporation | -0.2% | -3.94% | Trim |
| 25 | AAPL | Apple INC | -0.2% | -6.40% | Trim |
| 26 | ORCL | Oracle CORP | -0.3% | -10.39% | Trim |
| 27 | UPS | United Parcel Service-cl B | -0.3% | -8.94% | Trim |
| 28 | MS | Morgan Stanley | -0.4% | -20.13% | Trim |
| 29 | VWO | Vanguard Ftse Emerging Marke | -0.5% | -32.57% | Trim |
| 30 | CSX | Csx CORP | -0.5% | -19.78% | Trim |
| 31 | NLYEUR | Annaly Capital Management In | -0.5% | -20.91% | Trim |
| 32 | IP | International Paper Co | -0.7% | -48.20% | Trim |
| 33 | TGT | Target CORP | -0.8% | -31.88% | Trim |
| 34 | VFC | Vf CORP | -0.8% | -37.29% | Trim |
| 35 | ✓ | -0.9% | -53.95% | Trim | |
| 36 | KEY | Keycorp | -0.9% | -43.24% | Trim |
| 37 | DIS | Walt Disney Co/the | -1.2% | -96.63% | Trim |
| 38 | DUK | Du Pont E I De Nemour&Co | -1.4% | -92.86% | Trim |
| 39 | ✓ | Macy's, Inc. | — | NEW | New buy |
| 40 | CMCSA | Comcast Corp-class A | — | EXIT | Sold out |
| 41 | INFY | Infosys Ltd-sp Adr | — | NEW | New buy |
| 42 | ABBV | Abbvie INC | — | NEW | New buy |
| 43 | YUM | Yum! Brands INC | — | NEW | New buy |
| 44 | DKS | Dick's Sporting Goods INC | — | EXIT | Sold out |
| 45 | IBM | Intl Business Machines CORP | — | NEW | New buy |
| 46 | LNC | Lincoln National CORP | — | EXIT | Sold out |
| 47 | ✓ | St Jude Med INC | — | EXIT | Sold out |
| 48 | ✓ | ConocoPhillips | — | EXIT | Sold out |
| 49 | NYCBEUR | New York Community Bancorp | — | NEW | New buy |
| 50 | DOW | Dow Chem Co | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-07 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-10 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-07 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-09 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-07 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-12 | 13F-HR | View on EDGAR |
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