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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
UAL icon
301
United Airlines
UAL
$41.9B
$2.79M 0.11%
35,074
+1,076
+3% +$79.3K
AMCR icon
302
Amcor
AMCR
$21.8B
$2.79M 0.11%
60,779
-213,042
-78% -$9.83M
APLE icon
303
Apple Hospitality REIT
APLE
$3.77B
$2.79M 0.11%
+239,180
New +$2.81M
RMBS icon
304
Rambus
RMBS
$10.6B
$2.78M 0.11%
43,444
+38,947
+866% +$2.09M
VRTS icon
305
Virtus Investment Partners
VRTS
$1.09B
$2.78M 0.11%
+15,326
New +$2.55M
SBCF icon
306
Seacoast Banking Corp of Florida
SBCF
$3.34B
$2.77M 0.11%
+100,158
New +$2.48M
MFA
307
MFA Financial
MFA
$919M
$2.76M 0.11%
291,984
+220,584
+309% +$2.08M
DIS icon
308
Walt Disney
DIS
$182B
$2.75M 0.11%
22,206
-37,200
-63% -$3.87M
AEO icon
309
American Eagle Outfitters
AEO
$2.97B
$2.75M 0.11%
+285,629
New +$3.07M
URI icon
310
United Rentals
URI
$72.4B
$2.75M 0.11%
3,644
+2,832
+349% +$1.89M
BCO icon
311
Brink's
BCO
$4.65B
$2.72M 0.11%
+30,473
New +$2.65M
JAZZ icon
312
Jazz Pharmaceuticals
JAZZ
$16.7B
$2.7M 0.11%
+25,473
New +$2.77M
SOFI icon
313
SoFi Technologies
SOFI
$23.4B
$2.7M 0.11%
148,435
-53,018
-26% -$699K
HRMY icon
314
Harmony Biosciences
HRMY
$2.26B
$2.7M 0.11%
85,348
+7,772
+10% +$250K
ALG icon
315
Alamo Group
ALG
$2.02B
$2.69M 0.11%
12,297
+10,410
+552% +$1.99M
XEL icon
316
Xcel Energy
XEL
$48.1B
$2.68M 0.11%
+39,418
New +$2.73M
EXE
317
Expand Energy Corp
EXE
$21.3B
$2.68M 0.11%
22,940
+15,876
+225% +$1.77M
NVT icon
318
nVent Electric
NVT
$26.4B
$2.68M 0.11%
36,536
+25,535
+232% +$1.57M
WMT icon
319
Walmart Inc
WMT
$892B
$2.67M 0.11%
+27,257
New +$2.6M
PD icon
320
PagerDuty
PD
$856M
$2.66M 0.11%
+174,167
New +$2.71M
ADBE icon
321
Adobe
ADBE
$103B
$2.65M 0.11%
6,838
+6,163
+913% +$2.37M
AGM icon
322
Federal Agricultural Mortgage
AGM
$2.57B
$2.64M 0.11%
13,605
+6,916
+103% +$1.27M
CCOI icon
323
Cogent Communications
CCOI
$546M
$2.64M 0.11%
+54,788
New +$2.78M
DV icon
324
DoubleVerify
DV
$1.8B
$2.64M 0.11%
176,328
+92,578
+111% +$1.27M
WOR icon
325
Worthington Enterprises
WOR
$2.83B
$2.64M 0.11%
41,444
-9,427
-19% -$522K
11 12
13
14 15

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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.