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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
+8.95%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$2.51B
AUM Growth
+$308M
Cap. Flow
+$165M
Cap. Flow %
6.6%
Top 10 Hldgs %
6.12%
Holding
1,581
New
385
Increased
403
Reduced
352
Closed
439

Top Buys

Rank Stock Value
1
SPG icon
Simon Property Group
SPG
+$15M
2
GGG icon
Graco
GGG
+$10.2M
3
TIP icon
iShares TIPS Bond ETF
TIP
+$10M
4
KHC icon
Kraft Heinz
KHC
+$9.33M
5
PSX icon
Phillips 66
PSX
+$8.74M

Top Sells

Rank Stock Value
1
CRH icon
CRH
CRH
+$23.8M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$23.6M
3
LNG icon
Cheniere Energy
LNG
+$13.2M
4
AMCR icon
Amcor
AMCR
+$9.83M
5
LIVN icon
LivaNova
LIVN
+$9.42M

Sector Composition

Rank Sector Weight
1 Financials 17.68%
2 Technology 15.03%
3 Industrials 14.39%
4 Consumer Discretionary 11.22%
5 Healthcare 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANET icon
226
Arista Networks
ANET
$242B
$3.38M 0.13%
32,989
-38,029
-54% -$3.29M
LRCX icon
227
Lam Research
LRCX
$383B
$3.37M 0.13%
34,634
-4,724
-12% -$375K
FLS icon
228
Flowserve
FLS
$10B
$3.37M 0.13%
64,350
+51,889
+416% +$2.44M
NYT icon
229
New York Times
NYT
$10.5B
$3.37M 0.13%
60,159
-3,560
-6% -$189K
KMPR icon
230
Kemper
KMPR
$1.76B
$3.36M 0.13%
52,030
-19,756
-28% -$1.22M
FCPT icon
231
Four Corners Property Trust
FCPT
$2.75B
$3.35M 0.13%
124,601
+114,844
+1,177% +$3.16M
ARMK icon
232
Aramark
ARMK
$14.8B
$3.35M 0.13%
79,956
-2,286
-3% -$84.9K
AMH icon
233
American Homes 4 Rent
AMH
$12.4B
$3.34M 0.13%
+92,671
New +$3.43M
TKO icon
234
TKO Group
TKO
$13.7B
$3.33M 0.13%
18,275
-5,019
-22% -$806K
CDE icon
235
Coeur Mining
CDE
$16.1B
$3.32M 0.13%
374,441
-437,688
-54% -$3.19M
BUSE icon
236
First Busey Corp
BUSE
$2.59B
$3.3M 0.13%
+144,262
New +$3.12M
RVMD icon
237
Revolution Medicines
RVMD
$42.1B
$3.3M 0.13%
+89,617
New +$3.44M
RRC icon
238
Range Resources
RRC
$9.01B
$3.3M 0.13%
81,022
+29,049
+56% +$1.09M
WAFD icon
239
WaFd
WAFD
$2.77B
$3.26M 0.13%
111,447
+93,404
+518% +$2.64M
WH icon
240
Wyndham Hotels & Resorts
WH
$5.58B
$3.26M 0.13%
+40,088
New +$3.36M
NXPI icon
241
NXP Semiconductors
NXPI
$58.4B
$3.26M 0.13%
14,900
+5,801
+64% +$1.13M
KMB icon
242
Kimberly-Clark
KMB
$36.1B
$3.25M 0.13%
25,231
-5,355
-18% -$726K
CACC icon
243
Credit Acceptance
CACC
$6.03B
$3.25M 0.13%
6,382
+2,346
+58% +$1.15M
SLGN icon
244
Silgan Holdings
SLGN
$4.39B
$3.25M 0.13%
+59,960
New +$3.17M
SLG icon
245
SL Green Realty
SLG
$3.86B
$3.23M 0.13%
52,214
+34,784
+200% +$1.99M
UNH icon
246
UnitedHealth
UNH
$367B
$3.23M 0.13%
10,338
+8,413
+437% +$3.22M
DY icon
247
Dycom Industries
DY
$12B
$3.22M 0.13%
+13,182
New +$2.59M
BMY icon
248
Bristol-Myers Squibb
BMY
$131B
$3.2M 0.13%
69,132
+59,260
+600% +$2.91M
D icon
249
Dominion Energy
D
$58.8B
$3.19M 0.13%
56,484
-48,267
-46% -$2.64M
XYL icon
250
Xylem
XYL
$28.2B
$3.19M 0.13%
+24,636
New +$2.98M
8 9
10
11 12

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Dark Forest Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Dark Forest Capital Management held 1,581 positions worth $2.51B, up 14% from $2.2B the previous quarter. Its ten largest holdings account for 6.1% of the portfolio.

Dark Forest Capital Management deployed $165M of net new capital in Q2 2025, opening 385 new positions and adding to 403 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $13.2M trimmed.

  • Dark Forest Capital Management's largest Q2 2025 buy was iShares TIPS Bond ETF: 91,743 shares worth $10.1M.
  • Dark Forest Capital Management added most to Simon Property Group in Q2 2025, an estimated $15M increase.
  • Dark Forest Capital Management's biggest Q2 2025 reduction was Cheniere Energy, cutting an estimated $13.2M.
  • Dark Forest Capital Management fully exited CRH in Q2 2025, selling an estimated $23.8M.
  • Dark Forest Capital Management's ten largest holdings make up 6.1% of its $2.51B portfolio in Q2 2025.
  • Dark Forest Capital Management opened 385 new positions and closed 439 in Q2 2025.
  • Dark Forest Capital Management's portfolio value rose 14% quarter-over-quarter to $2.51B.

Based on Dark Forest Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.