Valley Forge Asset Management

Valley Forge Asset Management as of Sept. 30, 2011

Portfolio Holdings for Valley Forge Asset Management

Valley Forge Asset Management holds 82 positions in its portfolio as reported in the September 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Newmont Mining Corporation (NEM) 4.8 $70M 1.1M 62.95
Goldcorp 4.1 $60M 1.3M 45.64
Johnson & Johnson (JNJ) 3.8 $55M 866k 63.69
Abbott Laboratories (ABT) 3.7 $54M 1.0M 51.14
At&t (T) 3.6 $52M 1.8M 28.52
Verizon Communications (VZ) 3.4 $49M 1.3M 36.80
Pfizer (PFE) 3.3 $48M 2.7M 17.68
Bristol Myers Squibb (BMY) 3.3 $48M 1.5M 31.38
Barrick Gold Corp (GOLD) 3.1 $45M 969k 46.65
Procter & Gamble Company (PG) 3.1 $45M 710k 63.18
Pepsi (PEP) 2.9 $42M 677k 61.90
Merck & Co (MRK) 2.9 $42M 1.3M 32.70
Archer Daniels Midland Company (ADM) 2.6 $38M 1.5M 24.81
Waste Management (WM) 2.6 $38M 1.2M 32.56
Central Fd Cda Ltd cl a 2.5 $36M 1.8M 20.69
Wal-Mart Stores (WMT) 2.4 $35M 671k 51.90
Intel Corporation (INTC) 2.4 $34M 1.6M 21.33
Coca-Cola Company (KO) 2.3 $33M 491k 67.56
Exelon Corporation (EXC) 2.3 $33M 776k 42.61
Microsoft Corporation (MSFT) 2.3 $33M 1.3M 24.89
Transcanada Corp 2.1 $30M 751k 40.49
Travelers Companies (TRV) 2.0 $29M 586k 48.73
Kraft Foods 1.9 $28M 835k 33.58
Colgate-Palmolive Company (CL) 1.9 $28M 314k 88.68
Vodafone 1.9 $27M 1.1M 25.65
Exxon Mobil Corporation (XOM) 1.8 $26M 355k 72.63
Agnico (AEM) 1.8 $25M 427k 59.52
Sanofi-Aventis SA (SNY) 1.7 $25M 754k 32.80
Paychex (PAYX) 1.6 $24M 909k 26.37
Automatic Data Processing (ADP) 1.6 $23M 491k 47.15
Deere & Company (DE) 1.6 $23M 357k 64.57
General Electric Company 1.4 $20M 1.3M 15.22
China Mobile 1.4 $20M 409k 48.71
Eli Lilly & Co. (LLY) 1.4 $20M 538k 36.97
Nippon Telegraph & Telephone (NTTYY) 1.4 $20M 832k 23.95
Cisco Systems (CSCO) 1.4 $20M 1.3M 15.49
Kimberly-Clark Corporation (KMB) 1.4 $20M 278k 71.01
United Parcel Service (UPS) 1.3 $19M 300k 63.15
Walt Disney Company (DIS) 1.3 $19M 618k 30.16
E.I. du Pont de Nemours & Company 1.2 $17M 426k 39.97
JPMorgan Chase & Co. (JPM) 1.1 $17M 556k 30.12
3M Company (MMM) 1.1 $17M 231k 71.79
Cameco Corporation (CCJ) 1.0 $14M 775k 18.32
McCormick & Company, Incorporated (MKC) 0.6 $8.2M 177k 46.16
iShares MSCI Japan Index 0.5 $7.3M 776k 9.46
SPDR Gold Trust (GLD) 0.4 $5.3M 34k 158.07
Market Vectors Gold Miners ETF 0.3 $4.1M 74k 55.19
Philip Morris International (PM) 0.2 $3.3M 53k 62.37
Spdr S&p 500 Etf (SPY) 0.2 $2.9M 26k 113.14
iShares Gold Trust 0.2 $2.3M 143k 15.83
Royal Gold (RGLD) 0.1 $1.6M 26k 64.04
iShares S&P US Pref Stock Idx Fnd (PFF) 0.1 $1.6M 44k 35.61
Royal Dutch Shell 0.1 $1.4M 22k 62.05
iShares Dow Jones Select Dividend (DVY) 0.1 $1.5M 30k 48.22
Rydex S&P Equal Weight ETF 0.1 $1.3M 31k 41.41
Berkshire Hathaway (BRK.B) 0.1 $990k 14k 71.02
Altria (MO) 0.1 $855k 32k 26.80
Vanguard Dividend Appreciation ETF (VIG) 0.1 $898k 18k 48.76
Japan Smaller Capitalizaion Fund (JOF) 0.1 $787k 106k 7.45
Emerson Electric (EMR) 0.0 $566k 14k 41.34
Royal Dutch Shell 0.0 $609k 9.9k 61.56
Kinder Morgan Energy Partners 0.0 $652k 9.5k 68.40
McDonald's Corporation (MCD) 0.0 $374k 4.3k 87.81
Apple (AAPL) 0.0 $500k 1.3k 381.10
Templeton Emerging Markets (EMF) 0.0 $381k 23k 16.79
Dominion Resources (D) 0.0 $344k 6.8k 50.80
Novartis (NVS) 0.0 $290k 5.2k 55.77
Clorox Company (CLX) 0.0 $297k 4.5k 66.32
SBA Communications Corporation 0.0 $289k 8.4k 34.45
Market Vectors Junior Gold Miners ETF 0.0 $278k 9.9k 28.15
SPDR S&P MidCap 400 ETF (MDY) 0.0 $262k 1.8k 142.01
American Wtr Wks 0.0 $250k 8.3k 30.12
Petroleum & Resources Corporation 0.0 $259k 12k 22.60
Google 0.0 $206k 400.00 515.00
First Niagara Financial 0.0 $114k 13k 9.12
Magellan Midstream Partners 0.0 $215k 3.6k 60.42
Piedmont Office Realty Trust (PDM) 0.0 $175k 11k 16.21
Japan Equity Fund 0.0 $195k 37k 5.27
Sprott Physical Gold Trust (PHYS) 0.0 $168k 12k 14.00
Legend International Holdings (LGDI) 0.0 $4.0k 10k 0.40
Americ Int Gr Frac Warrant 0.0 $0 95k 0.00
Advanta Corp. 0.0 $0 10k 0.00