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DFCM
Dark Forest Capital Management Portfolio holdings
AUM
$1.13B
1-Year Est. Return
18.74%
This Fund
S&P 500
This Quarter
Est. Return
+5.34%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$407M
AUM Growth
-$182M
(-31%)
Cap. Flow
-$198M
Cap. Flow
% of AUM
-48.62%
Top 10 Holdings %
Top 10 Hldgs %
20.41%
Holding
1,725
New
514
Increased
247
Reduced
247
Closed
619
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NSTC
Northern Star Investment Corp. III
NSTC
|
+$5.99M |
| 2 |
Toro Company
TTC
|
+$5.07M |
| 3 |
Aecom
ACM
|
+$4.77M |
| 4 |
NSTD
Northern Star Investment Corp. IV
NSTD
|
+$4.6M |
| 5 |
MDH
MDH Acquisition Corp.
MDH
|
+$4.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ENPC
Executive Network Partnering Corporation
ENPC
|
+$23.9M |
| 2 |
ASZ
Austerlitz Acquisition Corporation II
ASZ
|
+$11.2M |
| 3 |
iShares TIPS Bond ETF
TIP
|
+$8.14M |
| 4 |
SNRH
Senior Connect Acquisition Corp. I Class A Common Stock
SNRH
|
+$7.68M |
| 5 |
AUS
Austerlitz Acquisition Corporation I
AUS
|
+$6.96M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 58.86% |
| 2 | Healthcare | 8.81% |
| 3 | Industrials | 8.57% |
| 4 | Technology | 5.6% |
| 5 | Energy | 5.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
GrafTech
EAF
$212M
| $261K | 0.06% |
5,482
-12,135
| -69% | -$589K |
|
227
Mastercard
MA
$493B
| $258K | 0.06% |
+743
| New | +$245K |
|
228
Tecnoglass Holdings Inc.
TGLS
$1.96B
| $254K | 0.06% |
8,262
-7,116
| -46% | -$184K |
|
229
First Advantage
FA
$4.12B
| $254K | 0.06% |
19,540
-39,846
| -67% | -$520K |
|
230
Popular Inc
BPOP
$11.1B
| $254K | 0.06% |
3,828
-2,618
| -41% | -$182K |
|
|
CMCA
231
DELISTED
Capitalworks Emerging Markets Acquisition Corp Class A Ordinary Shares
CMCA
| $252K | 0.06% |
24,419
| – | – |
|
|
MRC
232
DELISTED
MRC Global
MRC
| $252K | 0.06% |
+21,766
| New | +$230K |
|
233
Titan Machinery
TITN
$445M
| $252K | 0.06% |
+6,344
| New | +$225K |
|
234
TriNet
TNET
$3.14B
| $252K | 0.06% |
3,715
-1,760
| -32% | -$121K |
|
235
Janus International
JBI
$757M
| $252K | 0.06% |
26,441
-60,311
| -70% | -$582K |
|
|
CCAI
236
DELISTED
Cascadia Acquisition Corp. Class A Common Stock
CCAI
| $249K | 0.06% |
24,814
+24,252
| +4,315% | +$241K |
|
237
First American
FAF
$7.58B
| $242K | 0.06% |
4,625
+4,274
| +1,218% | +$217K |
|
238
Advanced Drainage Systems
WMS
$10.9B
| $241K | 0.06% |
+2,938
| New | +$298K |
|
239
Visa
V
$677B
| $234K | 0.06% |
+1,125
| New | +$227K |
|
240
Energy Recovery
ERII
$443M
| $233K | 0.06% |
+11,364
| New | +$249K |
|
|
RWT
241
Redwood Trust
RWT
$594M
| $229K | 0.06% |
+33,925
| New | +$237K |
|
242
Encompass Health
EHC
$12.4B
| $226K | 0.06% |
3,771
+3,001
| +390% | +$163K |
|
243
US Bancorp
USB
$99.6B
| $225K | 0.06% |
5,160
+3,913
| +314% | +$167K |
|
244
HCA Healthcare
HCA
$89.5B
| $223K | 0.05% |
+930
| New | +$208K |
|
245
Vertiv
VRT
$105B
| $221K | 0.05% |
16,173
-59,678
| -79% | -$796K |
|
|
BLNG
246
DELISTED
Belong Acquisition Corp. Class A Common Stock
BLNG
| $221K | 0.05% |
22,337
+8,464
| +61% | +$84.4K |
|
247
Albertsons Companies
ACI
$5.83B
| $219K | 0.05% |
+10,561
| New | +$232K |
|
248
Volato Group
SOAR
$7.23M
| $218K | 0.05% |
856
| – | – |
|
|
LDTC
249
DELISTED
LeddarTech
LDTC
| $216K | 0.05% |
43,334
| – | – |
|
250
WillScot Mobile Mini Holdings
WSC
$4.41B
| $213K | 0.05% |
4,721
-511
| -10% | -$22.9K |
|
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Dark Forest Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, Dark Forest Capital Management held 1,725 positions worth $407M, down 31% from $589M the previous quarter. Its ten largest holdings account for 20% of the portfolio.
Dark Forest Capital Management withdrew a net $198M in Q4 2022, closing 619 positions and reducing 247 holdings. Its most notable exit was Executive Network Partnering Corporation, an estimated $23.9M position sold in full.
By sector, the portfolio is most concentrated in Financials at 59% of assets, up from 55% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Dark Forest Capital Management opened a new position in Toro Company worth $5.42M.
- Dark Forest Capital Management's largest Q4 2022 buy was Toro Company: 47,868 shares worth $5.42M.
- Dark Forest Capital Management added most to Northern Star Investment Corp. III in Q4 2022, an estimated $5.99M increase.
- Dark Forest Capital Management's biggest Q4 2022 reduction was iShares TIPS Bond ETF, cutting an estimated $8.14M.
- Dark Forest Capital Management fully exited Executive Network Partnering Corporation in Q4 2022, selling an estimated $23.9M.
- Dark Forest Capital Management's ten largest holdings make up 20% of its $407M portfolio in Q4 2022.
- Dark Forest Capital Management opened 514 new positions and closed 619 in Q4 2022.
- Dark Forest Capital Management's portfolio value fell 31% quarter-over-quarter to $407M.
Based on Dark Forest Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.