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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
GL icon
301
Globe Life
GL
$14.3B
$681K 0.1%
6,107
-166
-3% -$17.9K
MBIN icon
302
Merchants Bancorp
MBIN
$2.49B
$675K 0.1%
18,516
+13,926
+303% +$563K
UNFI icon
303
United Natural Foods
UNFI
$2.85B
$675K 0.1%
24,720
+14,299
+137% +$329K
EHC icon
304
Encompass Health
EHC
$12.4B
$675K 0.1%
7,305
+1,009
+16% +$99.1K
VRSN icon
305
VeriSign
VRSN
$26.6B
$671K 0.1%
3,241
+1,172
+57% +$221K
NXRT
306
NexPoint Residential Trust
NXRT
$652M
$670K 0.1%
+16,057
New +$710K
CRUS icon
307
Cirrus Logic
CRUS
$6.26B
$670K 0.1%
+6,732
New +$740K
GTES icon
308
Gates Industrial Corporation Ltd.
GTES
$7.15B
$670K 0.1%
+32,562
New +$657K
IR icon
309
Ingersoll Rand
IR
$33.7B
$670K 0.1%
7,404
+1,183
+19% +$118K
VVX icon
310
V2X
VVX
$2.65B
$669K 0.1%
+13,977
New +$829K
NVDA icon
311
NVIDIA
NVDA
$5.42T
$668K 0.1%
4,975
-1,566
-24% -$216K
VRTX icon
312
Vertex Pharmaceuticals
VRTX
$126B
$667K 0.1%
1,657
+585
+55% +$271K
HUN icon
313
Huntsman Corp
HUN
$1.77B
$663K 0.1%
36,760
-50,712
-58% -$1.06M
NU icon
314
Nu Holdings
NU
$66.9B
$662K 0.1%
63,937
+41,951
+191% +$558K
GHC icon
315
Graham Holdings Company
GHC
$5.02B
$660K 0.1%
757
+395
+109% +$346K
MSCI icon
316
MSCI
MSCI
$40.9B
$658K 0.1%
1,096
-666
-38% -$400K
TOWN icon
317
Towne Bank
TOWN
$3.42B
$655K 0.1%
+19,232
New +$669K
EFC
318
Ellington Financial
EFC
$1.71B
$655K 0.1%
+54,040
New +$668K
CWEN icon
319
Clearway Energy Class C
CWEN
$6.7B
$655K 0.1%
+25,178
New +$696K
CMC icon
320
Commercial Metals
CMC
$8.31B
$654K 0.1%
13,194
-34,601
-72% -$1.95M
ELAN icon
321
Elanco Animal Health
ELAN
$11.1B
$654K 0.1%
+53,994
New +$707K
SYF icon
322
Synchrony
SYF
$25.6B
$651K 0.1%
10,021
+5,074
+103% +$311K
OGN icon
323
Organon & Co
OGN
$3.57B
$649K 0.1%
+43,531
New +$709K
SFL icon
324
SFL Corp
SFL
$1.61B
$649K 0.1%
+63,533
New +$679K
SKY icon
325
Champion Homes
SKY
$5.14B
$648K 0.1%
7,353
-19,463
-73% -$1.88M
11 12
13
14 15

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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.