Dark Forest Capital Management’s Shake Shack SHAK Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-20,007	Closed	-$1.87M	–	1308
2025 Q3	$1.87M	Buy	+20,007	New	+$2.3M	0.07%	488
2025 Q2	–	Sell	-8,537	Closed	-$753K	–	1485
2025 Q1	$753K	Buy	+8,537	New	+$926K	0.03%	804
2023 Q4	–	Sell	-6,633	Closed	-$385K	–	998
2023 Q3	$385K	Sell	6,633 -10,914	-62%	-$776K	0.03%	809
2023 Q2	$1.36M	Buy	17,547 +14,838	+548%	+$953K	0.14%	172
2023 Q1	$150K	Buy	+2,709	New	+$149K	0.04%	512
2022 Q4	–	Sell	-8	Closed	–	–	1447
2022 Q3	$0	Buy	+8	New	+$384	﹤0.01%	1408
2022 Q1	–	Sell	-63	Closed	-$5K	–	1713
2021 Q4	$5K	Sell	63 -582	-90%	-$44.3K	﹤0.01%	1182
2021 Q3	$51K	Buy	645 +557	+633%	+$50.7K	0.02%	562
2021 Q2	$9K	Buy	+88	New	+$8.88K	﹤0.01%	646