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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
CPRI icon
276
Capri Holdings
CPRI
$1.74B
$2.67M 0.12%
135,081
-129,585
-49% -$2.87M
GBCI icon
277
Glacier Bancorp
GBCI
$6.35B
$2.66M 0.12%
+60,226
New +$2.9M
NOC icon
278
Northrop Grumman
NOC
$81.2B
$2.66M 0.12%
5,199
+3,022
+139% +$1.44M
BDC icon
279
Belden
BDC
$5.19B
$2.66M 0.12%
26,500
+23,065
+671% +$2.56M
MNKD icon
280
MannKind Corp
MNKD
$1.32B
$2.65M 0.12%
526,543
+491,568
+1,405% +$2.75M
HLI icon
281
Houlihan Lokey
HLI
$9.02B
$2.65M 0.12%
16,386
+14,511
+774% +$2.49M
BTSG icon
282
BrightSpring Health Services
BTSG
$12.4B
$2.64M 0.12%
+146,092
New +$2.87M
FUL icon
283
H.B. Fuller
FUL
$3.28B
$2.64M 0.12%
46,985
+38,850
+478% +$2.29M
ST icon
284
Sensata Technologies
ST
$6.79B
$2.63M 0.12%
108,394
+77,093
+246% +$2.14M
ALKT icon
285
Alkami Technology
ALKT
$2.11B
$2.61M 0.12%
99,485
+90,343
+988% +$2.84M
SM icon
286
SM Energy
SM
$6.87B
$2.61M 0.12%
87,104
+77,176
+777% +$2.77M
LBRDK icon
287
Liberty Broadband Class C
LBRDK
$5.15B
$2.6M 0.12%
30,521
-24,710
-45% -$1.99M
JOE icon
288
St. Joe Company
JOE
$3.83B
$2.6M 0.12%
+55,286
New +$2.59M
NOVT icon
289
Novanta
NOVT
$6.29B
$2.58M 0.12%
+20,206
New +$2.9M
HRMY icon
290
Harmony Biosciences
HRMY
$2.24B
$2.57M 0.12%
77,576
+62,001
+398% +$2.22M
UHAL.B icon
291
U-Haul Holding Co Series N
UHAL.B
$12.8B
$2.57M 0.12%
43,409
+37,586
+645% +$2.35M
CUBI icon
292
Customers Bancorp
CUBI
$2.77B
$2.56M 0.12%
+51,063
New +$2.68M
AUB icon
293
Atlantic Union Bankshares
AUB
$5.97B
$2.55M 0.12%
81,991
+50,263
+158% +$1.79M
WOR icon
294
Worthington Enterprises
WOR
$2.86B
$2.55M 0.12%
50,871
+17,793
+54% +$750K
XRAY icon
295
Dentsply Sirona
XRAY
$2.43B
$2.53M 0.11%
+169,330
New +$3M
TSLA icon
296
Tesla
TSLA
$1.3T
$2.53M 0.11%
+9,750
New +$3.25M
NVR icon
297
NVR
NVR
$17B
$2.5M 0.11%
345
+278
+415% +$2.11M
STWD icon
298
Starwood Property Trust
STWD
$6.09B
$2.5M 0.11%
+126,283
New +$2.48M
EBC icon
299
Eastern Bankshares
EBC
$5.23B
$2.49M 0.11%
152,090
+111,834
+278% +$1.95M
VCYT icon
300
Veracyte
VCYT
$3.8B
$2.48M 0.11%
83,524
+62,187
+291% +$2.37M
10 11
12
13 14

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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.