Dark Forest Capital Management’s Houlihan Lokey HLI Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-19,258	Closed	-$3.95M	–	1136
2025 Q3	$3.95M	Sell	19,258 -4,787	-20%	-$939K	0.15%	196
2025 Q2	$4.33M	Buy	24,045 +7,659	+47%	+$1.29M	0.17%	145
2025 Q1	$2.65M	Buy	16,386 +14,511	+774%	+$2.49M	0.12%	281
2024 Q4	$326K	Buy	+1,875	New	+$330K	0.05%	625
2023 Q4	–	Sell	-5,032	Closed	-$539K	–	750
2023 Q3	$539K	Sell	5,032 -3,184	-39%	-$328K	0.05%	678
2023 Q2	$808K	Buy	+8,216	New	+$743K	0.08%	392
2022 Q2	–	Sell	-96	Closed	-$8K	–	1084
2022 Q1	$8K	Sell	96 -207	-68%	-$21.3K	﹤0.01%	1032
2021 Q4	$31K	Buy	303 +21	+7%	+$2.24K	0.01%	547
2021 Q3	$26K	Buy	+282	New	+$24.7K	0.01%	737

Other funds holding HLI

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

BlackRock New York $5.7T AUM 30.48% 1-Year Est. Return

Kayne Anderson Rudnick Investment Management

Kayne Anderson Rudnick Investment Management Los Angeles, California $34B AUM 6.31% 1-Year Est. Return

EARNEST Partners

EARNEST Partners Atlanta, Georgia $24.3B AUM 34.41% 1-Year Est. Return

Royal Bank of Canada

Royal Bank of Canada Toronto, Ontario, Canada $528B AUM 27.57% 1-Year Est. Return

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

Geode Capital Management

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

Wellington Management Group

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

Bank of Montreal

Bank of Montreal Toronto, Ontario, Canada $245B AUM 31.4% 1-Year Est. Return

Fidelity Investments

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return