Funds (13F)
Valley Forge Capital Management, LP
Backtest from 17 Feb 2017 to 2 Nov 2026 · weekly · hypothetical
- Return a year
- +18.2% S&P 500 +14.6%
- Last 12 months
- −11.4% S&P 500 +12.1%
- Sharpe ratio
- 0.70 S&P 500 0.72
- Biggest drop
- −35.5% S&P 500 −31.8%
About
Copies Valley Forge Capital Management, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.
Key statistics
| Measure | Strategy | S&P 500 |
|---|---|---|
| Return a year (compound) | +18.2% | +14.6% |
| Total return | +407% | +275% |
| Last 12 months | −11.4% | +12.1% |
| Last 3 months | −1.9% | — |
| Last month | +12.5% | — |
| This year so far | −17.3% | — |
| Volatility a year | 24.2% | 17.2% |
| Sharpe ratio | 0.70 | 0.72 |
| Biggest drop | −35.5% | −31.8% |
| Beta to the S&P 500 | 1.12 | 1.00 |
| Alpha a year (t-statistic) | +3.0% (0.65) | — |
| Share of weeks up | 57% | — |
Insights
| Period | Return a year | S&P 500 | Sharpe | S&P 500 | Biggest drop | Beta | Alpha (t) |
|---|---|---|---|---|---|---|---|
| Whole backtest17 Feb 2017 to 2 Nov 2026 | +18.2% | +14.6% | 0.70 | 0.72 | −35.5% | 1.12 | +3.0% (0.65) |
| 2018 onwards5 Jan 2018 to 2 Nov 2026 | +15.9% | +13.9% | 0.60 | 0.66 | −35.5% | 1.12 | +1.8% (0.35) |
| Last three years3 Nov 2023 to 2 Nov 2026 | +12.3% | +21.8% | 0.42 | 1.16 | −27.3% | 0.96 | −5.5% (−0.48) |
| Last year7 Nov 2025 to 2 Nov 2026 | −13.3% | +14.2% | −0.52 | 0.84 | −26.5% | 0.65 | −20.8% (−0.78) |