In a quarterly disclosure filed on August 14, 2026, Valley Forge Capital Management reported a 13.31% reduction in its S&P Global position, a significant trim to one of its most concentrated holdings. The filing, which reflects trades made during the second quarter ending June 30, 2026, showed the firm sold an estimated $95.31 million worth of shares, reducing its stake from 1.76 million to 1.52 million. Despite the sale, S&P Global remains a core holding for the fund, with a portfolio weight of 19.92% valued at $620.68 million.
This portfolio adjustment occurred during a quarter where S&P Global reported mixed financial results. On July 28, 2026, the company announced second-quarter revenue that topped estimates, but its earnings per share missed expectations, leading to a reduction in its full-year guidance. As 13F filings are delayed, this trade took place before the public earnings announcement. Valley Forge, known for its highly concentrated, long-term investment strategy in what it considers dominant businesses, has not publicly commented on its motive for the sale.