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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
+10.07%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$666M
AUM Growth
-$632M
Cap. Flow
-$687M
Cap. Flow %
-103.08%
Top 10 Hldgs %
40.61%
Holding
1,194
New
130
Increased
97
Reduced
186
Closed
768

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$93.3M
2
P
Everpure Inc
P
+$18.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$15.9M
4
WDAY icon
Workday
WDAY
+$15.8M
5
APP icon
Applovin
APP
+$15.5M

Top Sells

Rank Stock Value
1
LULU icon
lululemon athletica
LULU
+$17.1M
2
KSS icon
Kohl's
KSS
+$11.8M
3
VMBS icon
Vanguard Mortgage-Backed Securities ETF
VMBS
+$11.6M
4
VCSH icon
Vanguard Short-Term Corporate Bond ETF
VCSH
+$8.19M
5
CNGL
Canna-Global Acquisition Corp. Class A Common Stock
CNGL
+$5.88M

Sector Composition

Rank Sector Weight
1 Communication Services 26.63%
2 Technology 15.32%
3 Financials 8.5%
4 Industrials 8.5%
5 Consumer Discretionary 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EFSC icon
251
Enterprise Financial Services Corp
EFSC
$2.39B
$450K 0.07%
+10,084
New +$394K
CAH icon
252
Cardinal Health
CAH
$55.4B
$445K 0.07%
4,412
-14,597
-77% -$1.45M
NNI icon
253
Nelnet
NNI
$4.7B
$443K 0.07%
5,023
-610
-11% -$52.8K
VTEB icon
254
Vanguard Tax-Exempt Bond Index Fund
VTEB
$45.3B
$442K 0.07%
8,667
– –
MIDD icon
255
Middleby
MIDD
$6.08B
$441K 0.07%
2,997
-4,572
-60% -$581K
OTIS icon
256
Otis Worldwide
OTIS
$28.2B
$440K 0.07%
4,914
-3,789
-44% -$315K
OCFC icon
257
OceanFirst Financial
OCFC
$1.91B
$439K 0.07%
+25,294
New +$369K
HTLF
258
DELISTED
Heartland Financial USA, Inc.
HTLF
$435K 0.07%
11,554
-7,700
-40% -$243K
NDSN icon
259
Nordson
NDSN
$17.3B
$432K 0.06%
1,636
-7,568
-82% -$1.75M
WTM icon
260
White Mountains Insurance
WTM
$5.13B
$427K 0.06%
+284
New +$422K
VTWO icon
261
Vanguard Russell 2000 ETF
VTWO
$17.9B
$424K 0.06%
5,233
-32,203
-86% -$2.33M
AMAT icon
262
Applied Materials
AMAT
$428B
$424K 0.06%
2,617
-14,249
-84% -$2.09M
SYBT icon
263
Stock Yards Bancorp
SYBT
$2.6B
$424K 0.06%
8,225
-3,857
-32% -$172K
HY icon
264
Hyster-Yale Materials Handling
HY
$665M
$423K 0.06%
+6,803
New +$324K
WSBC icon
265
WesBanco
WSBC
$4B
$423K 0.06%
13,475
+4,913
+57% +$132K
LAUR icon
266
Laureate Education
LAUR
$5.28B
$420K 0.06%
+30,630
New +$420K
BNL icon
267
Broadstone Net Lease
BNL
$4.02B
$418K 0.06%
24,285
-137,595
-85% -$2.12M
CCS icon
268
Century Communities
CCS
$2.03B
$418K 0.06%
4,582
-20,557
-82% -$1.47M
OBK icon
269
Origin Bancorp
OBK
$1.66B
$414K 0.06%
+11,635
New +$369K
JBTM
270
JBT Marel
JBTM
$6.39B
$413K 0.06%
4,153
+2,063
+99% +$214K
AVGO icon
271
Broadcom
AVGO
$2.04T
$413K 0.06%
3,700
-13,830
-79% -$1.31M
VRNT
272
DELISTED
Verint Systems
VRNT
$412K 0.06%
+15,243
New +$354K
PRAA icon
273
PRA Group
PRAA
$755M
$411K 0.06%
15,693
-50,041
-76% -$936K
XLI icon
274
State Street Industrial Select Sector SPDR ETF
XLI
$33.7B
$411K 0.06%
+3,603
New +$378K
FRME icon
275
First Merchants
FRME
$2.67B
$409K 0.06%
+11,042
New +$342K
9 10
11
12 13

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Dark Forest Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Dark Forest Capital Management held 1,194 positions worth $666M, down 49% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Dark Forest Capital Management withdrew a net $687M in Q4 2023, closing 768 positions and reducing 186 holdings. Its most notable exit was lululemon athletica, an estimated $17.1M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 27% of assets, up from 6.2% a quarter earlier, followed by Technology and Financials.

Against the trend, Dark Forest Capital Management opened a new position in Everpure Inc worth $18.4M.

  • Dark Forest Capital Management's largest Q4 2023 buy was Everpure Inc: 514,899 shares worth $18.4M.
  • Dark Forest Capital Management added most to Alphabet (Google) Class A in Q4 2023, an estimated $93.3M increase.
  • Dark Forest Capital Management's biggest Q4 2023 reduction was Kohl's, cutting an estimated $11.8M.
  • Dark Forest Capital Management fully exited lululemon athletica in Q4 2023, selling an estimated $17.1M.
  • Dark Forest Capital Management's ten largest holdings make up 41% of its $666M portfolio in Q4 2023.
  • Dark Forest Capital Management opened 130 new positions and closed 768 in Q4 2023.
  • Dark Forest Capital Management's portfolio value fell 49% quarter-over-quarter to $666M.

Based on Dark Forest Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.