Dark Forest Capital Management’s Hawaiian Electric Industries HE Stock Holding History

Dark Forest Capital Management’s Portfolio HE Stock Details HE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-214,310	Closed	-$2.37M	–	1133
2025 Q3	$2.37M	Buy	214,310 +167,637	+359%	+$1.91M	0.09%	405
2025 Q2	$496K	Sell	46,673 -11,906	-20%	-$124K	0.02%	933
2025 Q1	$641K	Buy	+58,579	New	+$592K	0.03%	849
2024 Q3	–	Sell	-114,967	Closed	-$1.04M	–	1043
2024 Q2	$1.04M	Sell	114,967 -1,191	-1%	-$12.4K	0.19%	99
2024 Q1	$1.31M	Buy	116,158 +78,656	+210%	+$1,000K	0.22%	85
2023 Q4	$532K	Buy	37,502 +11,104	+42%	+$144K	0.08%	219
2023 Q3	$325K	Buy	+26,398	New	+$642K	0.03%	878
2023 Q2	–	Sell	-3,843	Closed	-$148K	–	1188
2023 Q1	$148K	Buy	+3,843	New	+$156K	0.04%	525
2022 Q4	–	Sell	-26	Closed	-$1K	–	1290
2022 Q3	$1K	Buy	+26	New	+$1.05K	﹤0.01%	1050
2022 Q2	–	Sell	-290	Closed	-$12K	–	1081
2022 Q1	$12K	Buy	+290	New	+$12.1K	﹤0.01%	970
2021 Q3	–	Sell	-1,088	Closed	-$46K	–	1379
2021 Q2	$46K	Buy	+1,088	New	+$47.1K	0.02%	459

Other funds holding HE

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

HKAM

Horizon Kinetics Asset Management New York $9.23B AUM 27.52% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

T. Rowe Price Investment Management Baltimore, Maryland $145B AUM 22.78% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

Charles Schwab San Francisco, California $654B AUM 26.35% 1-Year Est. Return

QCM

Quantinno Capital Management New York $59.9B AUM 28.07% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

Dark Forest Capital Management's HE Position: Q4 2025 in Review

Dark Forest Capital Management sold out of Hawaiian Electric Industries (HE) in Q4 2025, closing a stake of 214,310 shares — an estimated $2.37M sold.

Dark Forest Capital Management first reported a position in HE in Q2 2021 and held it in 11 quarters. The position peaked at $2.37M in Q3 2025. 321 funds tracked by Wall St. Rank hold HE as of Q4 2025.

Dark Forest Capital Management reported no remaining Hawaiian Electric Industries position as of Q4 2025 after selling out during the quarter.
Dark Forest Capital Management sold 214,310 Hawaiian Electric Industries shares in Q4 2025, an estimated $2.37M.
Dark Forest Capital Management first reported a position in Hawaiian Electric Industries in Q2 2021 and held it in 11 quarters.
Dark Forest Capital Management's Hawaiian Electric Industries position peaked at $2.37M in Q3 2025.
321 funds tracked by Wall St. Rank held Hawaiian Electric Industries as of Q4 2025.

Based on Dark Forest Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.