Dark Forest Capital Management’s MDU Resources MDU Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-143,951	Closed	-$2.4M	–	1360
2025 Q2	$2.4M	Sell	143,951 -37,036	-20%	-$623K	0.1%	373
2025 Q1	$3.06M	Buy	+180,987	New	+$3.12M	0.14%	208
2023 Q4	–	Sell	-97,638	Closed	-$1.06M	–	853
2023 Q3	$1.06M	Buy	+97,638	New	+$1.12M	0.08%	386
2023 Q2	–	Sell	-43,141	Closed	-$500K	–	1247
2023 Q1	$500K	Buy	43,141 +41,100	+2,014%	+$478K	0.12%	173
2022 Q4	$23.5K	Buy	+2,041	New	+$22.9K	0.01%	539
2022 Q1	–	Sell	-968	Closed	-$11K	–	1573
2021 Q4	$11K	Buy	+968	New	+$10.9K	﹤0.01%	891
2021 Q3	–	Sell	-17,828	Closed	-$212K	–	1432
2021 Q2	$212K	Buy	+17,828	New	+$223K	0.09%	166

Other funds holding MDU

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

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Barrow, Hanley, Mewhinney & Strauss Dallas, Texas $30.5B AUM 29.95% 1-Year Est. Return

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

RRAM

River Road Asset Management Louisville, Kentucky $8.99B AUM 12.83% 1-Year Est. Return

Corvex Management New York $2.52B AUM 25.53% 1-Year Est. Return

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

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

Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return

Dark Forest Capital Management's MDU Position: Q3 2025 in Review

Dark Forest Capital Management sold out of MDU Resources (MDU) in Q3 2025, closing a stake of 143,951 shares — an estimated $2.4M sold.

Dark Forest Capital Management first reported a position in MDU in Q2 2021 and held it in 7 quarters. The position peaked at $3.06M in Q1 2025. 405 funds tracked by Wall St. Rank hold MDU as of Q3 2025.

Dark Forest Capital Management reported no remaining MDU Resources position as of Q3 2025 after selling out during the quarter.
Dark Forest Capital Management sold 143,951 MDU Resources shares in Q3 2025, an estimated $2.4M.
Dark Forest Capital Management first reported a position in MDU Resources in Q2 2021 and held it in 7 quarters.
Dark Forest Capital Management's MDU Resources position peaked at $3.06M in Q1 2025.
405 funds tracked by Wall St. Rank held MDU Resources as of Q3 2025.

Based on Dark Forest Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.