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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
+2.5%
1 Year Est. Return
+18.74%
3 Year Est. Return
+51.22%
5 Year Est. Return
+55.27%
10 Year Est. Return
–
AUM
$678M
AUM Growth
-$104M
Cap. Flow
-$99.9M
Cap. Flow %
-14.72%
Top 10 Hldgs %
12.34%
Holding
1,351
New
414
Increased
244
Reduced
226
Closed
464

Top Buys

Rank Stock Value
1
CPRI icon
Capri Holdings
CPRI
+$7.2M
2
APP icon
Applovin
APP
+$6.91M
3
GWRE icon
Guidewire Software
GWRE
+$5.27M
4
COIN icon
Coinbase
COIN
+$4.5M
5
CC icon
Chemours
CC
+$4.1M

Top Sells

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22.5M
2
APO icon
Apollo Global Management
APO
+$15.4M
3
WDAY icon
Workday
WDAY
+$15.4M
4
FOUR icon
Shift4
FOUR
+$7.95M
5
AAPL icon
Apple
AAPL
+$6.93M

Sector Composition

Rank Sector Weight
1 Financials 14.4%
2 Industrials 14.26%
3 Consumer Discretionary 10.93%
4 Technology 10.77%
5 Healthcare 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CAVA icon
276
CAVA Group
CAVA
$7.27B
$721K 0.11%
6,390
-15,247
-70% -$2.03M
SUM
277
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$717K 0.11%
14,169
-5,127
-27% -$240K
SITE icon
278
SiteOne Landscape Supply
SITE
$4.53B
$717K 0.11%
+5,438
New +$785K
SAFT icon
279
Safety Insurance
SAFT
$1.52B
$712K 0.1%
+8,635
New +$716K
WDFC icon
280
WD-40
WDFC
$3.15B
$711K 0.1%
2,928
+544
+23% +$145K
CXT icon
281
Crane NXT
CXT
$3.07B
$707K 0.1%
+12,146
New +$697K
IESC icon
282
IES Holdings
IESC
$15.2B
$705K 0.1%
3,506
-4,187
-54% -$1.01M
GD icon
283
General Dynamics
GD
$106B
$703K 0.1%
2,668
+688
+35% +$198K
PAYX icon
284
Paychex
PAYX
$42.7B
$701K 0.1%
5,000
+908
+22% +$129K
ATKR icon
285
Atkore
ATKR
$3.16B
$699K 0.1%
8,382
-13,277
-61% -$1.17M
VRNS icon
286
Varonis Systems
VRNS
$5B
$699K 0.1%
+15,742
New +$819K
WGO icon
287
Winnebago Industries
WGO
$909M
$699K 0.1%
+14,623
New +$829K
DLB icon
288
Dolby
DLB
$5.79B
$698K 0.1%
+8,938
New +$681K
CMS icon
289
CMS Energy
CMS
$22.3B
$698K 0.1%
10,472
-2,831
-21% -$195K
AWK icon
290
American Water Works
AWK
$26.9B
$697K 0.1%
5,601
+3,529
+170% +$476K
NEE icon
291
NextEra Energy
NEE
$177B
$697K 0.1%
9,724
+2,802
+40% +$218K
PMT
292
PennyMac Mortgage Investment
PMT
$842M
$696K 0.1%
+55,253
New +$748K
EBC icon
293
Eastern Bankshares
EBC
$5.23B
$694K 0.1%
40,256
-95,190
-70% -$1.66M
NTST
294
NETSTREIT Corp
NTST
$2.1B
$693K 0.1%
+48,949
New +$762K
AMRC icon
295
Ameresco
AMRC
$1.36B
$693K 0.1%
29,495
+19,898
+207% +$575K
APD icon
296
Air Products & Chemicals
APD
$67.6B
$692K 0.1%
2,386
+121
+5% +$38K
RGLD icon
297
Royal Gold
RGLD
$19.5B
$688K 0.1%
+5,221
New +$754K
ILMN icon
298
Illumina
ILMN
$28.4B
$688K 0.1%
+5,151
New +$734K
HD icon
299
Home Depot
HD
$355B
$685K 0.1%
1,761
-1,510
-46% -$617K
FRSH icon
300
Freshworks
FRSH
$3.27B
$684K 0.1%
42,310
-73,118
-63% -$1.04M
10 11
12
13 14

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Dark Forest Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Dark Forest Capital Management held 1,351 positions worth $678M, down 13% from $783M the previous quarter. Its ten largest holdings account for 12% of the portfolio.

Dark Forest Capital Management withdrew a net $99.9M in Q4 2024, closing 464 positions and reducing 226 holdings. Its most notable exit was State Street Utilities Select Sector SPDR ETF, an estimated $22.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, up from 13% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Dark Forest Capital Management opened a new position in Capri Holdings worth $5.57M.

  • Dark Forest Capital Management's largest Q4 2024 buy was Capri Holdings: 264,666 shares worth $5.57M.
  • Dark Forest Capital Management added most to Dover in Q4 2024, an estimated $2.97M increase.
  • Dark Forest Capital Management's biggest Q4 2024 reduction was Apollo Global Management, cutting an estimated $15.4M.
  • Dark Forest Capital Management fully exited State Street Utilities Select Sector SPDR ETF in Q4 2024, selling an estimated $22.5M.
  • Dark Forest Capital Management's ten largest holdings make up 12% of its $678M portfolio in Q4 2024.
  • Dark Forest Capital Management opened 414 new positions and closed 464 in Q4 2024.
  • Dark Forest Capital Management's portfolio value fell 13% quarter-over-quarter to $678M.

Based on Dark Forest Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.