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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
-5.08%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$1.52B
Cap. Flow
+$1.68B
Cap. Flow %
76.49%
Top 10 Hldgs %
7.16%
Holding
1,491
New
604
Increased
497
Reduced
92
Closed
295

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$27.3M
2
CRH icon
CRH
CRH
+$12.6M
3
MSFT icon
Microsoft
MSFT
+$12.2M
4
AMCR icon
Amcor
AMCR
+$12.2M
5
LIVN icon
LivaNova
LIVN
+$11.2M

Top Sells

Rank Stock Value
1
TTD icon
Trade Desk
TTD
+$9.58M
2
APP icon
Applovin
APP
+$6.9M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$5M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$4.89M
5
GWRE icon
Guidewire Software
GWRE
+$4.75M

Sector Composition

Rank Sector Weight
1 Financials 16.4%
2 Industrials 14.7%
3 Technology 12.79%
4 Consumer Discretionary 11.74%
5 Healthcare 9.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SBAC icon
226
SBA Communications
SBAC
$19.5B
$2.94M 0.13%
+13,365
New +$2.8M
HXL icon
227
Hexcel
HXL
$7.82B
$2.93M 0.13%
53,559
+34,312
+178% +$2.14M
CPK icon
228
Chesapeake Utilities
CPK
$3.21B
$2.93M 0.13%
22,831
+18,298
+404% +$2.27M
COLM icon
229
Columbia Sportswear
COLM
$2.94B
$2.91M 0.13%
38,423
+33,920
+753% +$2.83M
ACM icon
230
Aecom
ACM
$9.75B
$2.91M 0.13%
+31,358
New +$3.18M
TXRH icon
231
Texas Roadhouse
TXRH
$13.7B
$2.9M 0.13%
17,422
+10,791
+163% +$1.91M
SYBT icon
232
Stock Yards Bancorp
SYBT
$2.6B
$2.9M 0.13%
41,973
+34,660
+474% +$2.49M
WMG icon
233
Warner Music
WMG
$13.8B
$2.89M 0.13%
+92,140
New +$2.99M
NI icon
234
NiSource
NI
$20.4B
$2.89M 0.13%
+72,051
New +$2.78M
TRV icon
235
Travelers Companies
TRV
$80.2B
$2.89M 0.13%
+10,917
New +$2.72M
BAC icon
236
Bank of America
BAC
$442B
$2.89M 0.13%
69,180
+37,571
+119% +$1.67M
SFNC icon
237
Simmons First National
SFNC
$3.39B
$2.89M 0.13%
+140,580
New +$3.05M
BECN
238
DELISTED
Beacon Roofing Supply, Inc.
BECN
$2.88M 0.13%
23,253
+11,347
+95% +$1.32M
WTM icon
239
White Mountains Insurance
WTM
$5.13B
$2.87M 0.13%
1,491
+772
+107% +$1.45M
WK icon
240
Workiva
WK
$3.54B
$2.87M 0.13%
+37,785
New +$3.57M
LRCX icon
241
Lam Research
LRCX
$390B
$2.86M 0.13%
39,358
+26,880
+215% +$2.12M
MLKN icon
242
MillerKnoll
MLKN
$1.67B
$2.85M 0.13%
149,041
+139,245
+1,421% +$2.96M
GEV icon
243
GE Vernova
GEV
$264B
$2.84M 0.13%
+9,317
New +$3.25M
ABNB icon
244
Airbnb
ABNB
$107B
$2.84M 0.13%
23,803
+16,218
+214% +$2.17M
HYG icon
245
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$2.84M 0.13%
36,041
-63,031
-64% -$5M
ARMK icon
246
Aramark
ARMK
$14.7B
$2.84M 0.13%
+82,242
New +$3.03M
STR
247
DELISTED
Sitio Royalties
STR
$2.84M 0.13%
+142,733
New +$2.89M
SAIA icon
248
Saia
SAIA
$9.72B
$2.82M 0.13%
+8,083
New +$3.52M
MTG icon
249
MGIC Investment
MTG
$6.25B
$2.82M 0.13%
113,788
+105,086
+1,208% +$2.55M
SFBS
250
ServisFirst Bancshares
SFBS
$4.86B
$2.8M 0.13%
+33,899
New +$2.94M
8 9
10
11 12

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Dark Forest Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Dark Forest Capital Management held 1,491 positions worth $2.2B, up 225% from $678M the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.

Dark Forest Capital Management deployed $1.68B of net new capital in Q1 2025, opening 604 new positions and adding to 497 existing holdings. Its largest new stake was Palo Alto Networks: 55,911 shares worth $9.54M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Applovin, an estimated $6.9M trimmed.

  • Dark Forest Capital Management's largest Q1 2025 buy was Palo Alto Networks: 55,911 shares worth $9.54M.
  • Dark Forest Capital Management added most to Cheniere Energy in Q1 2025, an estimated $27.3M increase.
  • Dark Forest Capital Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $6.9M.
  • Dark Forest Capital Management fully exited Trade Desk in Q1 2025, selling an estimated $9.58M.
  • Dark Forest Capital Management's ten largest holdings make up 7.2% of its $2.2B portfolio in Q1 2025.
  • Dark Forest Capital Management opened 604 new positions and closed 295 in Q1 2025.
  • Dark Forest Capital Management's portfolio value rose 225% quarter-over-quarter to $2.2B.

Based on Dark Forest Capital Management's 13F filing for Q1 2025, filed 15 May 2025.