Dark Forest Capital Management’s Varonis Systems VRNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-34,837	Closed	-$2M	–	1378
2025 Q3	$2M	Buy	34,837 +19,925	+134%	+$1.11M	0.08%	465
2025 Q2	$757K	Sell	14,912 -25,887	-63%	-$1.18M	0.03%	829
2025 Q1	$1.65M	Buy	40,799 +25,057	+159%	+$1.08M	0.08%	455
2024 Q4	$699K	Buy	+15,742	New	+$819K	0.1%	286
2024 Q2	–	Sell	-6,313	Closed	-$298K	–	913
2024 Q1	$298K	Buy	+6,313	New	+$301K	0.05%	469
2023 Q3	–	Sell	-28,165	Closed	-$751K	–	1331
2023 Q2	$751K	Buy	28,165 +27,174	+2,742%	+$678K	0.08%	436
2023 Q1	$25.8K	Buy	+991	New	+$25.8K	0.01%	943
2022 Q4	–	Sell	-7,046	Closed	-$187K	–	1510
2022 Q3	$187K	Buy	+7,046	New	+$201K	0.03%	395
2022 Q1	–	Sell	-644	Closed	-$31K	–	1795
2021 Q4	$31K	Buy	+644	New	+$36.7K	0.01%	548